Their biggest backers include an unlikely group of insurance companies, mutual funds and other usually conservative bond investors.The software company turned itself into a bitcoin whale and now owns some $48 billion of the cryptocurrency.
MicroStrategy Incorporated (NASDAQ:MSTR), a provider of enterprise analytics and mobility software with a market capitalization of $94 billion, announced significant corporate developments following a Special Meeting of Stockholders held on Monday.
On the other hand, Coinbase is less affected by Bitcoin price fluctuations. As long as trading volumes remain high, whether through sell or buy transaction, it will continue make money from the trading fees. This article first appeared on GuruFocus.
MicroStrategy Buys $1.1 Billion of Bitcoin
The total value of all cryptocurrencies in circulation currently stands at $3.5 trillion, which is near a record high. Bitcoin ( BTC 1.17%) accounts for more than half of that value, thanks to its market capitalization of almost $2 trillion.
If you want exposure to Bitcoin without having to spend more than $100,000 for one coin, there are other ways to invest. You can buy fractions of a Bitcoin on crypto exchanges or brokerage platforms, invest in a Bitcoin ETF or look to crypto-related stocks and ETFs.
MicroStrategy continues its Bitcoin acquisition strategy with a new $1.1 billion purchase of 11,000 BTC, as announced by Michael Saylor.
On Jan. 21, MicroStrategy ( MSTR, Financial) will vote to boost its authorized Class A common share count from 330 million to 10.3 billion. The move is to raise $2 billion of funds from its preferred stock offering in order to secure money for its Bitcoin (BTC) acquisition strategy.
Michael Saylor’s Bitcoin strategy has attracted plenty of fanfare. Basically, MicroStrategy (NASDAAQ:MSTR) borrows money to buy more Bitcoin. The publicly-traded corporation currently owns about 2% of the world’s total Bitcoin supply,
MicroStrategy Inc. is considering perpetual preferred stock to fund its Bitcoin strategy, aiming to offer 1.5x returns and volatility. Trump admin may support crypto industry and repeal SEC rule.
The MicroStrategy CEO is buying as much of the cryptocurrency as he can. Some big-name investors are going along for the ride.
As trader, the rise of corporations with largest Bitcoin holder is a trend worth monitoring as it reshapes boundaries of traditional & digital finance