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KULR Technology Group has launched its Bitcoin treasury with a $21 million purchase of 217.18 BTC at an average price of $96,556.53 per coin. Inspired by MicroStrategy's approach, KULR plans to allocate up to 90% of its surplus cash into Bitcoin, with positive shareholder support for this strategy. Other companies, including Matador Technologies and Quantum BioPharma, have also recently added Bitcoin to their balance sheets as part of long-term capital preservation strategies.
In 2024, the crypto landscape faced significant challenges, including the banning of unauthorized platforms like Pump.fun in the UK and the rise of scams, such as pig butchering, costing victims over $75 billion. Prominent figures like Sahil Arora drew criticism for celebrity-endorsed memecoins, while the Biden administration's "Operation Choke Point 2.0" allegedly isolated crypto from banking services. Despite these hurdles, advocates like President-elect Donald Trump and El Salvador's Nayib Bukele pushed for crypto adoption, setting the stage for a potentially more favorable environment in 2025.
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.
Chinese selfie app developer Meitu invested in 31,000 ETH and 940 BTC in spring 2021, while Japan's Metaplanet holds 1,142 BTC as of December 19. Despite bullish sentiment among traders, Bitcoin's recent decline raises concerns about a potential "Santa Claus" rally, with key support at $89,376 and resistance at $100,000. Institutional interest is waning, impacting Bitcoin's performance, while altcoins show signs of recovery, indicating a possible post-Christmas rally.
MicroStrategy has called a Special Meeting of Shareholders to discuss proposals aimed at advancing its Bitcoin-focused 21/21 Plan and enhancing capital-raising efforts. Key agenda items include increasing authorized Class A shares from 330 million to 10.33 billion, raising preferred shares from 5 million to 1.005 billion, and amending the 2023 Equity Incentive Plan to align new directors' compensation with the company's long-term Bitcoin strategy.Recently, founder Michael Saylor announced the acquisition of 5,262 BTC, bringing MicroStrategy's total holdings to 444,262 BTC, purchased at an average cost of $62,257 per Bitcoin, with the latest acquisition made at a record price of $106,662 per coin.
Michael Saylor has introduced a 'Digital Assets Framework' aimed at fostering crypto growth in the U.S. It emphasizes the need for a clear taxonomy of digital assets, defines the rights of owners and companies, and proposes practical compliance measures to enhance innovation.Saylor argues that a strategic digital assets policy, including a Bitcoin reserve, could strengthen the dollar, reduce national debt, and position the U.S. as a leader in the global digital economy, unlocking trillions in value creation.
In 2024, the crypto industry saw significant developments, with Pudgy Penguins achieving remarkable growth and expanding into mainstream retail. Leaders like Gracy Chen of Bitget and Brian Armstrong of Coinbase actively shaped regulations and market strategies, while initiatives like SheFi aimed to enhance female representation in Web3. Edward Snowden emphasized the importance of privacy rights amid rising AI and crypto adoption, urging independent voting in the upcoming U.S. presidential elections.
MicroStrategy has proposed a significant increase in authorized shares from 330 million to 10.33 billion as part of its $42 billion 21/21 Plan, aiming to raise $21 billion in equity and $21 billion through fixed-income instruments. This move is designed to enhance its role as a Bitcoin Treasury Company and address governance challenges related to digital assets. Shareholders are urged to consider the implications of potential dilution and the alignment of the company's Bitcoin-centric strategy with their interests.
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.
Michael J. Saylor
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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