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GAM Investments has urged SBI Holdings to implement an XRP buyback program to unlock shareholder value, citing a significant gap between the company's market value and its crypto assets, particularly its indirect holdings in Ripple, valued at over JPY 1.6 trillion. The proposal includes increasing transparency through daily XRP valuations and regular updates on net asset value. By adopting this strategy, similar to MicroStrategy's Bitcoin accumulation, GAM believes SBI could enhance its market capitalization, which currently stands at JPY 1.2 trillion.
Bitcoin surged past $106K, targeting new all-time highs as MicroStrategy's recent $1.5 billion BTC purchase boosted market sentiment. Analysts noted strong spot demand and potential liquidity shifts, with expectations that altcoins may gain traction once BTC surpasses $120K. Meanwhile, Kraken whales indicate a consolidation range around $150K, suggesting possible momentum slowdown.
MicroStrategy has increased its Bitcoin holdings to over $46 billion after purchasing 15,350 BTC for approximately $1.5 billion, bringing its total to 439,000 BTC. The company, now the largest corporate holder of Bitcoin, will join the Nasdaq 100 on December 23, signaling greater mainstream acceptance of cryptocurrency. With Bitcoin's price reaching an all-time high of $106,387, MicroStrategy's stock has surged over 600% in the past year, reflecting its strategic pivot from software to Bitcoin investment.
MicroStrategy has completed its sixth consecutive week of Bitcoin purchases, acquiring an additional 15,350 BTC for $1.5 billion. This acquisition has positively impacted the company, with its shares rising 4% following its inclusion in the Nasdaq 100.
US stocks rose on Monday as investors prepared for the Federal Reserve's final policy decision of the year, with the S&P 500 up 0.3% and the Nasdaq Composite gaining 0.5%. Bitcoin reached a record high above $106,000 amid optimism for a crypto-friendly administration, while MicroStrategy's stock surged over 4%. Market focus is on the Fed's interest-rate decision expected on Wednesday, with a 97% probability of a 25 basis point cut, as well as updates on inflation and retail sales. Meanwhile, Super Micro Computer Inc. shares plummeted 14% after being removed from the Nasdaq 100.
MicroStrategy has expanded its Bitcoin holdings by acquiring 15,000 BTC for $1.5 billion, raising its total to 438,650 BTC valued at approximately $45.6 billion. The company has invested $27.1 billion in Bitcoin at an average price of $61,725 per BTC, with recent purchases funded through a share sale program and convertible notes. This announcement coincides with MicroStrategy's inclusion in the Nasdaq-100 index, effective December 23, and follows significant fluctuations in Bitcoin's value, which recently stabilized around $104,000.
US stocks rose on Monday, with the S&P 500 gaining 0.4% and the Nasdaq Composite nearing record highs, driven by strong performances from Alphabet and Tesla. Bitcoin surged to an all-time high above $107,000 as investors anticipate the Federal Reserve's interest rate decision later this week, with a 97% probability of a 25 basis point cut. Meanwhile, Super Micro Computer's shares fell over 6% as it prepares to exit the Nasdaq 100.
MicroStrategy will be included in the NASDAQ-100 index this week, potentially boosting its share price due to an estimated $2.5 billion in buying pressure from ETFs and asset managers. The company, which has transformed into a leveraged Bitcoin fund, aims for future inclusion in the S&P 500, contingent on upcoming accounting rule changes that could recognize Bitcoin profits.
The Financial Accounting Standards Board (FASB) has adopted Fair Value Accounting for Bitcoin, effective for fiscal years starting after December 15, 2024. This new rule mandates that companies report Bitcoin at current market prices, enhancing transparency and potentially encouraging its use as a treasury reserve asset.Large corporations like MicroStrategy and Tesla will benefit from simplified financial reporting, allowing them to recognize both gains and losses from Bitcoin holdings. This regulatory change is seen as a catalyst for increased institutional confidence in Bitcoin, with potential implications for its market value.
Bitcoin has surged to a record high of $106,533, with large wallet holders increasing by 9.9% since October 10, reflecting growing confidence among institutional investors. The total cryptocurrency market cap has reached $3.8 trillion, with Bitcoin gaining 65% in Q4. Speculation around a U.S. Bitcoin reserve and comments from global leaders highlight Bitcoin's rising significance, despite concerns over market stability.
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