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Michael Saylor hinted that MicroStrategy has made its first Bitcoin purchase with an average price exceeding $100,000, following a series of acquisitions over recent weeks. The firm, which holds 423,650 Bitcoin valued at over $43.6 billion, has seen its stock soar 496.4% year-to-date, earning a spot in the Nasdaq-100. Saylor remains committed to buying Bitcoin, expressing confidence in future purchases even at $1 million.
MicroStrategy (MSTR) will become the first bitcoin-focused company listed on the Nasdaq-100, significantly increasing the index's bitcoin exposure with its $42 billion in holdings. This inclusion could attract billions in passive investments, although analysts warn that a potential reclassification as a financial firm may jeopardize its long-term membership. The move may also prompt changes in other major indices, further integrating bitcoin into mainstream financial markets.
Michael Saylor, founder of MicroStrategy, has predicted that MARA Holdings will be the next Bitcoin firm to join the Nasdaq 100, following MicroStrategy's inclusion. MARA's CEO, Fred Thiel, confirmed the company's efforts to achieve this milestone, having invested over $600 million in Bitcoin recently. As of December 13, MARA's market cap stood at $7.32 billion, while MicroStrategy's was $94.77 billion.
Bitcoin's price surged 2.65% to approximately $102,645, driven by MicroStrategy's inclusion in the Nasdaq 100 Index and a record inflow into US-based spot Bitcoin ETFs, which rose from $30.43 billion to $35.60 billion in two weeks. MicroStrategy's significant Bitcoin acquisitions and growing institutional interest, alongside proposals for a US strategic Bitcoin reserve, are fueling market optimism. However, Bitcoin is also testing a rising wedge pattern, indicating potential volatility ahead.
MicroStrategy, led by Michael Saylor, will be added to the Nasdaq-100 Index on December 23, joining Palantir Technologies and Axon Enterprise. This inclusion positions MicroStrategy among the 100 largest stocks by market capitalization, enhancing its visibility in the investment community, particularly for those seeking Bitcoin exposure. The move has sparked excitement in the crypto industry, with analysts predicting significant implications for institutional investment in Bitcoin.
MicroStrategy has officially joined the Nasdaq 100, marking a significant milestone as the first Bitcoin company in the index. Following the announcement, its stock rose 0.57% in after-hours trading, reflecting growing institutional recognition of the cryptocurrency sector. The company, founded by Michael Saylor, has aggressively invested in Bitcoin, currently holding over 423,650 BTC valued at approximately $42.8 billion, solidifying its position as the largest corporate Bitcoin holder globally.
MicroStrategy, a major player in Bitcoin investments, will join the Nasdaq 100 index on December 23, potentially boosting demand for its stock, which has surged over sixfold this year. The company's market cap stands at approximately $90 billion, despite generating less than $500 million in revenue over the past year. With 423,650 bitcoins in its possession, MicroStrategy continues to leverage its position in the crypto market, aiming for future inclusion in the S&P 500.
BlueSky, an alternative to X created by Jack Dorsey, has surpassed 25 million users as some abandon X amid controversies surrounding Elon Musk's ownership. While BlueSky aims for a decentralized discourse reminiscent of early web days, it faces challenges like misinformation and scams, similar to those encountered by X. The platform's growth has coincided with a notable exodus from X, with millions of users reportedly leaving since Musk's acquisition.
Hester Peirce, a Commissioner at the U.S. Securities and Exchange Commission, has outlined a vision for the agency's crypto regulatory strategy under President-elect Donald Trump. In the cryptocurrency market, Bitcoin is currently battling to maintain the $100K level after a volatile week, with significant purchases from MicroStrategy and endorsements from BlackRock potentially influencing institutional interest. As the year-end approaches, factors such as expected Fed rate cuts and a pro-Bitcoin political landscape may contribute to a potential Christmas rally.
Riot Platforms has acquired approximately $510 million in Bitcoin, raising its total holdings to nearly $1.7 billion. This move aligns with activist investor Starboard Value's significant stake in the company, which has suggested repurposing mining capacity for AI services. Analysts at JPMorgan have also increased price targets for Bitcoin miners, recognizing the value of their BTC holdings and assets.
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