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The US government is not expected to purchase Bitcoin in 2025, according to Galaxy Research, which indicates it will focus on managing its existing 183,850 BTC supply. Discussions on a Bitcoin reserve policy are anticipated, with potential legislation allowing the government to acquire 1 million BTC over five years. Meanwhile, competition among nations for Bitcoin adoption may intensify, particularly among those with significant sovereign wealth funds.
MicroStrategy is convening a special shareholder meeting to seek approval for expanding its equity-issuance plan, aiming to purchase an additional $42 billion in Bitcoin over the next three years. The company plans to increase authorized shares of Class A common stock from 330 million to 10.33 billion and preferred stock from 5 million to over 1 billion. As of December 22, MicroStrategy holds approximately 444,262 BTC, valued at around $43.53 billion, and has seen its stock rise over 422% this year, largely due to its Bitcoin strategy.
U.S. stock markets will operate on Christmas Eve, December 24, with early closures: the New York Stock Exchange and Nasdaq will close at 1 p.m. EST, while over-the-counter trading ends at 2 p.m. The bond market will also close at 2 p.m. and all markets will remain closed on Christmas Day. International exchanges will have varying hours, with some closing early for the holiday.
Despite a recent Federal Reserve rate cut, Bitcoin's price fell sharply, dropping up to 15%, while NASDAQ tech stocks also declined by 3%. Historically, both markets experience a Santa Claus rally, with stocks gaining an average of 1.3% and crypto often seeing more pronounced increases during the holiday season. Analysts suggest that while both asset classes may continue to rise, the volatility in cryptocurrencies can lead to greater losses compared to tech stocks.
MicroStrategy is set to hold a special shareholder meeting to approve proposals aimed at enhancing its Bitcoin strategy, including increasing its authorized shares from 330 million to 10.33 billion. The company currently owns 439,000 Bitcoins, valued at approximately $42 billion, and aims to sustain its aggressive acquisition pace despite recent stock declines. Executives remain committed to the Bitcoin-centric approach, anticipating future growth and a more favorable legal environment in the U.S.
MicroStrategy shareholders will vote in 2025 on proposals to increase authorized common stock to 10.3 billion shares and amend the equity incentive plan, supporting the company's Bitcoin strategy. The meeting will also address procedural changes for board directors and the company's ambitious goal to raise $42 billion for future Bitcoin acquisitions. Since its announcement, MicroStrategy has acquired approximately 192,042 BTC, achieving 42% of its investment target in under two months.
U.S. stock markets will close early at 1 p.m. ET on Christmas Eve, December 24, 2024, and remain closed on Christmas Day, December 25. The bond market will also close early at 2 p.m. ET on December 24 and will not reopen until December 26. The next market closure will be on January 1, 2025, for New Year's Day.
U.S. stock markets will close early at 1 p.m. ET on Christmas Eve, December 24, 2024, and remain closed on Christmas Day. The bond market will close at 2 p.m. ET on December 24 and also be closed on December 25. Trading will resume on December 26, with the next market closure on January 1, 2025, for New Year's Day.
MicroStrategy's shares fell 6% to $342 after the company announced a $561 million Bitcoin purchase, bringing its total holdings to 444,262 BTC valued at $42 billion. The firm, now part of the Nasdaq-100, has acquired 192,000 BTC since November 11, despite Bitcoin's recent price drop to $93,700. Analysts suggest that the stock's inclusion in the index could lead to significant trading volume increases, potentially impacting its price positively.
MicroStrategy acquired 5,262 Bitcoin for $561 million between December 16-22, marking its seventh consecutive week of purchases ahead of joining the Nasdaq-100 index. The company funded this acquisition by selling 1,317,841 shares, generating approximately $561 million in net proceeds. With total holdings of around 444 BTC valued at $42.7 billion, MicroStrategy now represents over 2% of Bitcoin's total supply, and its stock surged 476% year-to-date, contributing to its inclusion in the Nasdaq-100.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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