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MicroStrategy has significantly increased its Bitcoin holdings to 423,650 BTC after purchasing an additional 21,550 BTC for $2.1 billion, reinforcing its status as the leading institutional holder in 2024. CEO Michael Saylor continues to advocate for Bitcoin as a long-term investment, amidst a bullish market driven by institutional adoption. As Bitcoin's price reached $100,000 earlier this year, other major players like BlackRock have also expanded their holdings, reflecting a growing belief in Bitcoin's potential for further price growth.
Since Donald Trump became president-elect, nearly $10 billion has flowed into US spot Bitcoin ETFs, reflecting optimism for a pro-crypto regulatory environment. His appointments, including a digital asset advocate for the SEC, signal a shift towards supportive policies, while Bitcoin recently surpassed $100,000 for the first time. Companies like MicroStrategy have seen significant stock increases, benefiting from the positive market atmosphere and substantial investments in Bitcoin.
Bitcoin experienced a significant drop from $100K to $94,300 before recovering to around $97,000, despite MicroStrategy's major BTC purchase. Ripple's XRP fell below $2 but remains bullish with predictions of a market cap rise to $270 billion, while Shiba Inu plunged 25% despite reaching 2 million wallets and a surge in its burn rate. Over $1.4 billion was liquidated across the market due to the correction affecting multiple cryptocurrencies.
MicroStrategy has made headlines by acquiring $2.1 billion in Bitcoin, marking its fifth consecutive week of significant purchases. The firm now holds over 400,000 Bitcoin, valued at more than $41 billion, surpassing Nvidia's cash reserves. However, analysts warn that this aggressive strategy poses liquidity and credit risks, especially if Bitcoin's market value declines, potentially jeopardizing the company's financial stability.
Michael Saylor, executive chairman of MicroStrategy, has controversially urged the US government to sell its gold reserves and invest in Bitcoin to enhance economic dominance. He argues that Bitcoin is a superior store of value compared to gold, which he deems antiquated and logistically challenging. Saylor believes this strategy could elevate the nation's assets significantly while undermining adversaries that hold gold.
MicroStrategy has expanded its Bitcoin holdings by purchasing 21,550 BTC for approximately $2.1 billion, bringing its total to 423,650 BTC. This acquisition, funded through share sales, occurred as Bitcoin surpassed $100,000 for the first time. CEO Michael Saylor remains bullish on Bitcoin, advocating for its adoption over gold.
Spot Bitcoin and Ethereum ETFs have seen record inflows, with $3.85 billion entering digital asset funds last week, driven by institutional demand. BlackRock's iShares ETFs accounted for $3.2 billion, pushing total crypto assets under management to $56.7 billion. Meanwhile, long-term Bitcoin holders sold 827,783 BTC in 30 days, contributing to Bitcoin's struggle to maintain momentum above $100,000. The U.S. has emerged as the leading market for digital asset investment, with speculation that smaller crypto ETFs may soon be approved following Donald Trump's return to the presidency.
Bitcoin's volatility decreased in Q3, with the Bitcoin Volatility Index peaking at 2.44% in November, down from 3.25% in August. Coinbase's stock has nearly doubled this year, reaching $310.52, driven by increased trading volumes and a favorable regulatory outlook under the new administration. Analysts predict further growth, with price targets for Coinbase shares rising to $420, fueled by expectations of record trading volumes in December.
Bitcoin has surged past $100K, with analysts predicting potential growth to $150K-$250K amid extreme greed and rising active addresses. Key indicators like the weekly Golden Cross signal a bullish trend, though overbought conditions suggest a possible pullback or consolidation ahead. As institutional interest grows and regulatory clarity emerges, Bitcoin's role as a major financial asset could solidify by 2025.
Dow Jones futures, along with S&P 500 and Nasdaq 100 futures, dipped ahead of Tuesday's market open, influenced by Oracle's over 6% drop after missing earnings estimates. AppLovin fell nearly 15% after not being added to the S&P 500, while Cava and MicroStrategy also saw significant declines. Key inflation reports are anticipated this week, alongside earnings from Adobe and Costco.
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