Blockchain Bites: MicroStrategy’s Macro Strategy for Bitcoin Treasuries
Bitcoin is being hoovered up faster than it's mined, as Guggenheim predicts increased institutional inflows and Ruffer takes profits.
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The Nasdaq-listed company recently announced it added another 5,050 Bitcoin to its coffers for about $242.9 million. The value of MicroStrategy’s massive Bitcoin (BTC) holdings has surpassed what most S&P 500 companies hold in their cash treasuries.The Nasdaq-listed enterprise software firm purchased an additional 5,050 Bitcoin for about $242.9 million, raising the value of its 114,042 BTC holdings to nearly $5.3 billion. That comes out to be higher than what 80% of non-financial S&P 500 companies hold in their cash coffers, as per data compiled by Bloomberg.Cash spending up among....
MicroStrategy’s approach has got the Association of Corporate Treasurers and IKEA thinking.
MicroStrategy’s Michael Saylor is known for his unorthodox and bold investing style, which often attracts criticism. His Bitcoin focused strategy and buying the top digital asset at near-highs have their fair share of critics. But recent developments tell us that Bitcoin’s bullish sentiment has been right after all, well, at least for today. Related Reading: […]
MicroStrategy’s Bitcoin holdings are now in profit again. MicroStrategy is well known to be one of the largest Bitcoin buyers in recent years. The company is such a believer in Bitcoin that it sold some of its stocks to increase its Bitcoin holdings. This would seem extreme to some investors, but as suggested by recent […]
This special edition of Blockchain Bites covers everything you need to know from invest: ethereum economy and the news from elsewhere in the cryptoverse.