Bitcoin Volatility Keeps Dropping, And Michael Saylor Has the Data
Michael Saylor says big finance hasn’t made Bitcoin wilder. Swings are narrowing as the asset base and market structure deepen.
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Michael Saylor says big finance hasn’t made Bitcoin wilder. Swings are narrowing as the asset base and market structure deepen.
With crypto markets crashing, crypto companies finished Monday lower overall, but miners were uneven, with a couple of outliers firming into the bell.
Strategy’s Michael Saylor defended his firm’s aggressive Bitcoin acquisition tactics, calling the cryptocurrency “digital capital” and a “50-year” asset during a CNBC interview.
Strategy filed a $4.2 billion share sale to further expand its Bitcoin treasury following record Q2 profits. The firm now holds 594,325 BTC worth $64.4 billion.
Michael Saylor’s Strategy has acquired an additional 4,980 BTC for $531 million, marking its 12th consecutive week of Bitcoin purchases.
Bitcoin (BTC) shot up beyond $87,000 after Strategy (previously MicroStrategy) purchased a massive 6,911 BTC for $584.1 million.
Michael Saylor is pushing the SEC task force to establish a regulatory framework for crypto, including the creation of a strategic reserve.
The company’s total Bitcoin stash now stands at 499,096 BTC, acquired at an average price of $66,357 per coin, bringing its total valuation to around $33.1 billion.
Strategy (formerly MicroStrategy) has priced a $2 billion offering of convertible senior notes, with an option for buyers to purchase an additional $300 million, as part of its aggressive Bitcoin acquisition strategy.
Investment bank KBW initiates coverage of Strategy with an outperform rating, highlighting the company’s potential as a leveraged Bitcoin investment vehicle.
MicroStrategy unveils new identity as Strategy, emphasizing its position as world’s largest Bitcoin treasury while reporting Q4 Bitcoin yield of 74.3%.
MicroStrategy halts its weekly Bitcoin purchases temporarily while preparing to close a $563.4M preferred stock offering, maintaining its long-term crypto strategy.
With a total Bitcoin holdings of 471,107 BTCs, which is worth more than $49 billion, MicroStrategy controls around 2.24% of BTC’s total supply.
Bitcoin bull Michael Saylor is now recognized as “The Bitcoin Alchemist” by Forbes Magazine.
V2G technology firm Nuvve announces Board approval to invest in Bitcoin and accept it as payment, following MicroStrategy’s lead among Nasdaq-listed companies.