BREAKING NEWS: MicroStrategy acquires additional 11,931 Bitcoins, What does this mean for the Crypto Market?

writeandearn in #hive-173575 • 5 months ago

BREAKING NEWS: MicroStrategy acquires additional 11,931 Bitcoins

Microstrategy has reported its acquisition of additional 11,931 Bitcoins. This was reported in an X post today June 20 after it completed the $800 Million Offering of 2.25% Convertible Senior Notes due in 2032.

MicroStrategy has acquired an additional 11,931 BTC for ~$786.0M using proceeds from convertible notes & excess cash for ~$65,883 per #bitcoin. As of 6/20/24, $MSTR hodls 226,331 $BTC acquired for ~$8.33B at average price of $36,798 per bitcoin. - [Tweet]9https://x.com/saylor/status/1803763490928119950)

Now, Microstrategy holds a total of 226,331 $BTC acquired with apporximately $8.33B at average price of $36,798 per bitcoin. At today's pricing, Microstrategy's Bitcoin vault is worth $14.8B. Already on a profit of about $6B.

MicroStrategy is one of the world’s largest public holders of Bitcoin. With this new acquisition and the volume of Bitcoin in its vault, do you think it could have any impact in the crypto market and ecosystem at large?

Let's hear your thoughts in the comments section of this post.

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5 months ago in #hive-173575 by writeandearn

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etorobong 5 months ago

This move could boost market sentiment

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johnuko 5 months ago

wow! That's a huge holding. I think they'll be part of those that will control the market fluctuations

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writeandearn 5 months ago

That is a lot indeed.

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nancydominic 5 months ago

Wow. This means that this institution believes in crypto and particularly, Bitcoin with a long term plan.

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writeandearn 5 months ago

Yeah, there are many instructional interests in crypto and it can only get better.

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peckypeace 5 months ago

MicroStrategy is one of the world’s largest public holders of Bitcoin. With this new acquisition and the volume of Bitcoin in its vault, do you think it could have any impact in the crypto market and ecosystem at large?

Yeah, it could have impact on the Bitcoin price due to the high demand created by such transactions and could spur growth within the ecosystem.

Overall, Bitcoin is a double edged sword. Meaning, it can appreciate and depreciate. We need to wise here.

Thank you for sharing.

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imaima 5 months ago

Their large holdings can contribute to market stability, as they may buy or sell BTC to maintain their target allocation, influencing prices.

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peckypeace 5 months ago

Question

How long will MicroStrategy last as one of the corporations supporting the development of Bitcoin and other cryptocurrencies?

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