MicroStrategy acquires 55,000 Bitcoin for $5.4 billion, boosting its holdings to 386,700 BTC amid bullish institutional sentiment.
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The insurance giant made the investment across four different sub-organizations, according to Bloomberg Terminal data shared by pseudonymous analyst Petruschki.
The $3 billion offering of 0% convertible senior notes is part of MicroStrategy’s plans to raise $42 billion over the next three years — primarily to buy more Bitcoin.
MicroStrategy stock has soared 94% in 2024, fueled by Bitcoin’s rally above $97,000, with $15 billion in unrealized gains.
Hoth Therapeutics allocates $1 million to Bitcoin, reflecting rising business adoption amid increasing attention on BTC’s inflation-resistant value.
MicroStrategy upsizes its note sale to $2.6 billion to fund Bitcoin purchases, boosting confidence in BTC’s price reaching the $100,000 milestone.
Rumble shares soared after the bell as its CEO Chris Pavlovski said he’s considering adding Bitcoin to the video streaming firm’s balance sheet.
MicroStrategy’s Michael Saylor says he’ll get three minutes to pitch Microsoft on why it should buy Bitcoin, claiming it would make it a more stable and less risky stock.
Data hints that new all-time highs are on the way, even if Bitcoin struggles to gain above $92,000.
MicroStrategy has acquired an additional 51,780 BTC worth $4.6 billion, boosting its total holdings to 331,200 Bitcoin as BTC prices hit record highs above $92,400.