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Asian shares showed mixed results following a record-setting day for the Nasdaq, with Tokyo's Nikkei 225 gaining 0.2% while Chinese markets declined. Investors await the Federal Reserve's interest rate decision, with expectations of a third consecutive cut to support the job market. Bitcoin reached a new high, boosting MicroStrategy shares, while oil prices fell slightly.
The S&P 500 and Nasdaq Composite reached new highs, while the Dow faced its eighth consecutive loss as investors await the Federal Open Market Committee's interest rate decision. Despite a positive trend in new highs, breadth data indicates underlying market weakness, with more decliners than advancers. Nvidia's stock correction continues, raising concerns about future sales, yet analysts remain optimistic about tech stocks' growth driven by the AI Revolution.
The Nasdaq Composite reached a record high, climbing 1.2% as major tech stocks like Tesla, Google, Amazon, and Apple hit fresh peaks. Meanwhile, the S&P 500 rose nearly 0.4%, while the Dow Jones fell 0.2%. Investors are focused on the Federal Reserve's upcoming interest rate decision amid rising inflation concerns.
MicroStrategy's stock surged nearly 5% following its announcement of acquiring an additional 15,350 bitcoins for $1.5 billion, bringing its total holdings to approximately 440,000 bitcoins. The company will also join the Nasdaq 100 on December 23, replacing three other firms. Despite skepticism from some analysts regarding its strategy, MicroStrategy's shares have skyrocketed over 580% this year.
MicroStrategy has purchased an additional 15,350 Bitcoin for approximately $1.5 billion, raising its total holdings to 439,000 BTC valued at $45.6 billion. The latest acquisition, made at an average price of $100,386 per BTC, follows a significant rally in the company's stock, which is set to join the Nasdaq-100 Index on December 23. Founder Michael Saylor expressed confidence in continuing to buy Bitcoin, even at prices exceeding $100,000.
MicroStrategy has acquired 15,350 BTC for approximately $1.5 billion, marking its sixth consecutive week of purchases, and increasing its total holdings to 439,000 BTC valued at $45 billion. This acquisition, funded by selling 3.8 million shares, comes ahead of the company's inclusion in the Nasdaq-100 index, which is expected to enhance its financial flexibility for future Bitcoin investments. With a year-to-date yield of 72.4%, MicroStrategy aims to reach its goal of accumulating $42 billion in Bitcoin.
U.S. stock futures are up as investors anticipate the Federal Reserve's interest rate decision this week. Bitcoin has pulled back after reaching over $160,000, while Palantir, MicroStrategy, and Axon Enterprise will join the Nasdaq 100. Broadcom's stock rises following its $1 trillion market cap, whereas Super Micro Computer's shares plummet amid its removal from the Nasdaq 100 and efforts to raise capital.
Bitcoin's price surged to a record high of around $106,535 on December 16, driven by bullish sentiment following Donald Trump's election and MicroStrategy's Nasdaq 100 inclusion. Analysts project potential targets of $120,000 and even $155,500 based on technical patterns and Fibonacci levels, with long-term forecasts suggesting it could reach $800,000 by the end of 2025 due to its capped supply and favorable policies.
The Financial Accounting Standards Board (FASB) has introduced a new fair value accounting standard for Bitcoin, effective after December 15, 2024, allowing companies to update Bitcoin values on their balance sheets to reflect current market prices. This change aims to provide a clearer financial picture by recognizing both gains and losses, potentially encouraging more corporations to adopt Bitcoin as a treasury reserve asset. Major holders like MicroStrategy and Tesla stand to benefit from simplified reporting, which could enhance the perception of their digital asset strategies and drive further corporate adoption.
US stock futures rose as investors prepared for the Federal Reserve's final policy decision of the year, with the S&P 500 and Dow nudging up 0.1% and Nasdaq 100 futures increasing by 0.3%. Bitcoin reached a record high above $105,000 amid optimism for a crypto-friendly administration. Meanwhile, Super Micro Computer's shares plummeted 14% after being removed from the Nasdaq 100 due to accounting issues.
MicroStrategy Incorporated
Companies
| Symbol | MSTR |
| Name | MicroStrategy Incorporated |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Software & Services |
| Industry | Software |
| Market | NASDAQ Global Select |
| Country | United States |
| State | VA |
| City | Tysons Corner |
| Zipcode | 22182 |
| Website | http://www.microstrategy.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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