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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Experience to Earn: Everdome's Metaverse Frontier

    Experience to Earn: Everdome’s Metaverse Frontier

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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  • NFT
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    PENGU token loses 20% in August amid Pudgy Party game launch

    Base claims top 3 spot in 30-day NFT volume: DappRadar

    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

    Blue chip NFTs sink double digits as ETH retreats from record highs

    What’s Behind the Double-Digit Declines?

    What’s Behind the Double-Digit Declines?

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

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    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

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    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

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    Climb the SCOR Invitational Leaderboard and Earn Bigger $SCOR Airdrops

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    What Is Impermanent Loss? How It Works, and How to Avoid It

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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    PENGU token loses 20% in August amid Pudgy Party game launch

    Base claims top 3 spot in 30-day NFT volume: DappRadar

    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

    Blue chip NFTs sink double digits as ETH retreats from record highs

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    What’s Behind the Double-Digit Declines?

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

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    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

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    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

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    Climb the SCOR Invitational Leaderboard and Earn Bigger $SCOR Airdrops

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    Pudgy Penguins Game ‘Pudgy Party’ Launches on iOS and Android

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    Pudgy Penguins and Mythical Games Launch Pudgy Party Game

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    KuCoin Pay Joins Forces with 2Game Digital to Drive Web3 in Gaming

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    GaFin Joins Cyber Crash to Advance Web3 Gaming

    Buzzy Ethereum Game Football.fun Has Soccer Fans Scoring Crypto Gains

    Buzzy Ethereum Game Football.fun Has Soccer Fans Scoring Crypto Gains

    Stability World AI Adds Games to Transform the Future of Web3 Gaming

    Stability World AI Adds Games to Transform the Future of Web3 Gaming

    Play Solana to ship handheld gaming device in October

    Play Solana to ship handheld gaming device in October

    The Rise of Indian Online Casinos: Affiliates, Crypto, and Seamless Gaming?

    The Rise of Indian Online Casinos: Affiliates, Crypto, and Seamless Gaming?

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

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    Polyhedra Network launches Proof Cloud in open beta

    Polyhedra Network launches Proof Cloud in open beta

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    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

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    SoonVerse Partners with Arris to Enhance User Experience

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    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

    I asked ChatGPT to predict Ethereum’s prospects as billionaire holders accumulate

    UAE emirate launches new free zone for digital assets, Web3 and AI

    UAE emirate launches new free zone for digital assets, Web3 and AI

  • Guides
    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is Volatility in Crypto? Why It Happens and How to Stay Safe

    What Is Volatility in Crypto? Why It Happens and How to Stay Safe

    What is Cloud Mining? A Beginner’s Guide

    What Is Cloud Mining in Crypto? Everything You Need to Know to Start

    What Are Bitcoin Runes and RunesDEX? – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    What Are Bitcoin Runes and RunesDEX? – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    6 Under-$1 Utility Tokens with Real-World Use to Watch in the 2025 Bull Run

    6 Under-$1 Utility Tokens with Real-World Use to Watch in the 2025 Bull Run

    What is Crypto FOMO? How to Avoid Emotional Investing Mistakes

    What is Crypto FOMO? How to Avoid Emotional Investing Mistakes

    What Is Crypto Arbitrage and How to Use It in Trading?

    What Is Crypto Arbitrage and How to Use It in Trading?

    What’s the Difference & Which Is Better to Trade?

    What’s the Difference & Which Is Better to Trade?

  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

    Here’s What Could Trigger the Next Dogecoin (DOGE) Bull Run, According to Crypto Strategist

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

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    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Altcoins

MicroStrategy Increases Bitcoin Bet With $822M Purchase, Adds 12,000 BTC To Treasury

March 11, 2024
in Altcoins
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MicroStrategy Increases Bitcoin Bet With $822M Purchase, Adds 12,000 BTC To Treasury
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As Bitcoin (BTC) continues its unprecedented uptrend, surging to a new all-time high (ATH) of $72,300, software company MicroStrategy remains steadfast in its vision. It is reaping substantial rewards from its strategic investment in the largest cryptocurrency in the market. 

MicroStrategy, led by renowned Bitcoin supporter and former CEO Michael Saylor, recently made a major acquisition, further solidifying its position in the digital asset market.

MicroStrategy Bitcoin Investment Pays Off

According to a filing with the US Securities and Exchange Commission (SEC), MicroStrategy acquired approximately 12,000 BTC between February 26, 2024, and March 10, 2024, for approximately $821.7 million in cash. The average purchase price per Bitcoin was $68,400. 

Additionally, MicroStrategy recently completed an offering of convertible senior notes due 2030, raising $800 million in funds. With this latest acquisition, MicroStrategy’s Bitcoin holdings now stand at a staggering 205,000 BTC, acquired for $6.9 billion.

Microstrategy
Microstrategy’s MSTR stock uptrend on the daily chart. Source: MSTR on TradingView.com

MicroStrategy’s stock trades at $1,557, representing a remarkable 9% gain within 24 hours. The company’s shares have demonstrated a sustained and continuous upward trajectory since February 26, coinciding with Bitcoin’s $50,000 consolidation phase breakthrough. 

Over two weeks, Bitcoin surged to its present trading price, establishing a notable correlation between the leading cryptocurrency and MicroStrategy. This correlation has further solidified the company’s strategy and contributed to its stock’s performance.

MicroStrategy’s strategic investment in Bitcoin has yielded remarkable results. The company now boasts a profit of $7.7 billion on its Bitcoin holdings, which translates to a remarkable return of 112% so far as Bitcoin breaks new all-time highs.

ETF Expert Astounded By Bitcoin ETF Success

The rapid rise of Bitcoin Exchange-Traded Funds (ETFs) has surpassed even the most optimistic projections. Bloomberg ETF expert Eric Balchunas highlighted the growth of these funds in a recent post on social media site X (formerly Twitter). The expert noted that assets under management (AUM) surpassed $55 billion, and trading volume reached an impressive $110 billion. 

See also  Bitcoin Falls Under $35,000 But 88% Of Supply Remains Unmoved
Microstrategy
All ten Bitcoin spot ETFs’ assets under management surpass $55 billion. Source: Eric Balchunas on X

Balchunas acknowledged that achieving such numbers in just two months was nothing short of “absurd,” far exceeding what would normally be considered successful even at the end of a full year.

In addition, in a surprising turn of events for the ETF expert, Blackrock’s IBIT ETF and Fidelity’s FBTC have emerged as the leaders among all ETFs in terms of year-to-date (YTD) flows through the middle of March. This unexpected feat positions these Bitcoin ETF offerings as major players in the ETF market, attracting the attention and interest of investors seeking exposure to the digital asset.

Microstrategy
The 1-D chart shows that BTC’s price is trending upward. Source: BTCUSD on TradingView.com

Currently, BTC continues its uptrend, aiming to solidify and consolidate above the $70,000 threshold, which would put the cryptocurrency in a good position to reach the $100,000 mark in the rest of the year. 

Featured image from Shutterstock, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

READ ALSO

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Toncoin heats up: What does $398M in trading volume indicate?

As Bitcoin (BTC) continues its unprecedented uptrend, surging to a new all-time high (ATH) of $72,300, software company MicroStrategy remains steadfast in its vision. It is reaping substantial rewards from its strategic investment in the largest cryptocurrency in the market. 

See also  Putin Acknowledges Russia as a Bitcoin Mining Leader; 54,000 BTC Mined in 2023

MicroStrategy, led by renowned Bitcoin supporter and former CEO Michael Saylor, recently made a major acquisition, further solidifying its position in the digital asset market.

MicroStrategy Bitcoin Investment Pays Off

According to a filing with the US Securities and Exchange Commission (SEC), MicroStrategy acquired approximately 12,000 BTC between February 26, 2024, and March 10, 2024, for approximately $821.7 million in cash. The average purchase price per Bitcoin was $68,400. 

Additionally, MicroStrategy recently completed an offering of convertible senior notes due 2030, raising $800 million in funds. With this latest acquisition, MicroStrategy’s Bitcoin holdings now stand at a staggering 205,000 BTC, acquired for $6.9 billion.

Microstrategy
Microstrategy’s MSTR stock uptrend on the daily chart. Source: MSTR on TradingView.com

MicroStrategy’s stock trades at $1,557, representing a remarkable 9% gain within 24 hours. The company’s shares have demonstrated a sustained and continuous upward trajectory since February 26, coinciding with Bitcoin’s $50,000 consolidation phase breakthrough. 

Over two weeks, Bitcoin surged to its present trading price, establishing a notable correlation between the leading cryptocurrency and MicroStrategy. This correlation has further solidified the company’s strategy and contributed to its stock’s performance.

MicroStrategy’s strategic investment in Bitcoin has yielded remarkable results. The company now boasts a profit of $7.7 billion on its Bitcoin holdings, which translates to a remarkable return of 112% so far as Bitcoin breaks new all-time highs.

ETF Expert Astounded By Bitcoin ETF Success

The rapid rise of Bitcoin Exchange-Traded Funds (ETFs) has surpassed even the most optimistic projections. Bloomberg ETF expert Eric Balchunas highlighted the growth of these funds in a recent post on social media site X (formerly Twitter). The expert noted that assets under management (AUM) surpassed $55 billion, and trading volume reached an impressive $110 billion. 

See also  CoinEx: More than just trading – A mutual relationship between crypto traders and exchange
Microstrategy
All ten Bitcoin spot ETFs’ assets under management surpass $55 billion. Source: Eric Balchunas on X

Balchunas acknowledged that achieving such numbers in just two months was nothing short of “absurd,” far exceeding what would normally be considered successful even at the end of a full year.

In addition, in a surprising turn of events for the ETF expert, Blackrock’s IBIT ETF and Fidelity’s FBTC have emerged as the leaders among all ETFs in terms of year-to-date (YTD) flows through the middle of March. This unexpected feat positions these Bitcoin ETF offerings as major players in the ETF market, attracting the attention and interest of investors seeking exposure to the digital asset.

Microstrategy
The 1-D chart shows that BTC’s price is trending upward. Source: BTCUSD on TradingView.com

Currently, BTC continues its uptrend, aiming to solidify and consolidate above the $70,000 threshold, which would put the cryptocurrency in a good position to reach the $100,000 mark in the rest of the year. 

Featured image from Shutterstock, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Tags: 822MAddsBetBitcoinBTCIncreasesMicroStrategyPurchaseTreasury

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