All articles tagged with #cryptocurrency investment
Metaplanet, a Tokyo-based company, has increased its Bitcoin holdings to 10,000 BTC, surpassing Coinbase to become the ninth-largest publicly traded Bitcoin holder, with recent purchases funded by a $210 million bond issuance and demonstrating strong Bitcoin yield performance.
Metaplanet's shares surged over 12% after announcing a plan to raise $5.4 billion to acquire up to 210,000 Bitcoin by 2027, potentially making it the second-largest public holder of Bitcoin, with its stock rising significantly following the news.
El Salvador's President Nayib Bukele celebrated as Bitcoin's value surpassed $100,000, significantly boosting the country's investment to over $600 million. Despite initial resistance and protests against making Bitcoin legal tender in 2021, Bukele argued that the cryptocurrency would benefit the unbanked and reduce remittance costs. However, many Salvadorans quickly cashed out the $30 Bitcoin incentive provided by the government.
MicroStrategy has purchased an additional 15,400 Bitcoin for $1.5 billion, bringing its total holdings to 402,100 BTC, valued at approximately $39 billion. The company, led by Michael Saylor, has been aggressively acquiring Bitcoin since 2020, positioning itself as a major player in the cryptocurrency market. This strategy has significantly boosted MicroStrategy's stock price, which has outperformed many S&P 500 companies. The firm plans to raise $42 billion to continue its Bitcoin acquisitions.
Bitcoin is nearing the $100,000 mark, a milestone predicted by the author, who now forecasts a reversal in the market cycle after reaching a potential high of $120,000. The article discusses the psychological impact of round numbers in trading and the influence of events like the halvening on Bitcoin's price. The author advises caution as the market approaches a potential peak, suggesting that the final phase of the cycle may lead to a significant crash. Investors are encouraged to plan their exit strategies to avoid losses during the anticipated downturn.
MicroStrategy, led by Executive Chairman Michael Saylor, has significantly increased its Bitcoin holdings with a recent purchase of 51,780 BTC, valued at $4.6 billion. This acquisition brings the company's total Bitcoin holdings to 331,200 BTC, worth over $30 billion. MicroStrategy has been strategically investing in Bitcoin since 2020 to maximize shareholder value, becoming the largest corporate holder of the cryptocurrency. The company's Bitcoin purchases have often influenced market prices, with the latest buy coinciding with Bitcoin reaching new all-time highs.
MicroStrategy, led by billionaire Michael Saylor, has significantly increased its Bitcoin holdings, now owning 279,420 Bitcoins valued at $24.5 billion. Despite Bitcoin's price surge, Saylor remains bullish, predicting it could reach $100,000 by 2024 and $13 million in 21 years. MicroStrategy's pivot to Bitcoin has overshadowed its struggling software business, leading to increased debt and share issuance to fund further Bitcoin purchases. This strategy is risky, hinging on Bitcoin's future performance against the U.S. dollar.
MicroStrategy, led by Michael Saylor, plans to invest $42 billion in Bitcoin over the next three years, aiming to double its current holdings and potentially trigger a significant Bitcoin rally. This aggressive strategy, part of the "21/21 Plan," involves raising funds through new share offerings and convertible debt. While the plan could position MicroStrategy as a leading "Bitcoin Treasury Company," it also carries risks if Bitcoin prices do not rise as expected. The move reflects broader trends, with other companies and even governments considering similar investments in Bitcoin.
Bernstein recommends buying bitcoin miners Riot Platforms and CleanSpark ahead of the halving, predicting a bullish trajectory for bitcoin after the event and maintaining a forecast of $150,000 by 2025. The broker believes that the market will reward these companies for their superior execution and leadership in self-mining hashrate, despite concerns over profitability following the halving. Bernstein expects bitcoin's bullish trajectory to resume once mining hashrates adjust to lower rewards and ETF inflows pick up, with the rollout of spot bitcoin ETFs by wirehouses and registered investment advisors continuing to provide structural demand for bitcoin.
BlackRock CEO Larry Fink expresses surprise at the explosive growth of spot bitcoin exchange-traded funds, with the firm's iShares Bitcoin Trust ETF pulling in $10 billion in the first few weeks and now nipping at the heels of Grayscale’s Bitcoin Trust. The SEC's approval of spot bitcoin ETFs in January has made it easier for both institutional and Main Street investors to invest in bitcoin, driving gains for the cryptocurrency and rivaling interest in gold. However, some remain skeptical about the value of a bitcoin ETF compared to physically backed assets like gold.
Bitcoin spot ETFs accumulated $15.4 million on Monday, ending a five-day outflow streak, with Fidelity's FBTC leading the inflows. Nearly a dozen spot ETFs debuted in the U.S. on Jan. 11, allowing investors to take exposure to the leading cryptocurrency while bypassing the hassles of owning and storing the digital asset. Analysts anticipate stronger quarter-end flows, potentially lifting the cryptocurrency's price to new highs, but stress the need for spot ETF inflows and issuance of dollar-pegged stablecoin tether (USDT) for bitcoin to chart another aggressive move higher.
Data suggests that retail investors are driving the demand for spot bitcoin ETFs, with the average trade size of BlackRock's iShares Bitcoin Fund (IBIT) indicating nonprofessional investors. Billions of dollars have flowed into these ETFs since their launch in January, with most of the money coming from retail investors rather than big institutions. ETFs make it easier for individual investors to allocate money into bitcoin without holding the actual asset themselves, and BlackRock's IBIT has attracted over $14 billion in assets in just two months. Despite the outstanding performance of these products, Grayscale's GBTC has seen an outflow since converting into an ETF in January.
Bitcoin ETFs are experiencing a surge in investment, surpassing the daily production of newly mined Bitcoins, with a record $1.05 billion influx on March 11th. Analysts predict potential inflows of up to $220 billion over the next three years, potentially quadrupling Bitcoin's price to $280,000. Institutional interest, exemplified by BlackRock's record-breaking inflows, and the conclusion of GBTC share sales by Genesis Holdings, are driving this momentum. However, regulatory hurdles, particularly from the SEC, pose uncertainties for issuers like BlackRock, despite their bullish outlook and plans for expansion into emerging markets.
Despite Bitcoin reaching all-time highs, MicroStrategy continues to add to its bitcoin stash, prompting Canaccord to raise its price target on the stock to $1,810. The company's strategy of purchasing bitcoin when its stock trades at a relative premium to its holdings has been accretive, leading to a strong track record of driving shareholder value. With no direct competitors emerging, MicroStrategy now holds around 205,000 bitcoin, making it the largest corporate holder of the cryptocurrency.
Crypto investment funds saw a record $2.7 billion in weekly inflows, bringing the year-to-date total to $10.3 billion, with bitcoin accounting for a significant portion of the inflows. The surge in inflows is driven by U.S.-based spot ETFs adding thousands of coins per day and a major rally in prices, leading to bitcoin hitting a fresh lifetime high of over $72,000. Solana also saw notable inflows of $24 million last week.