MicroStrategy Buys Another $2.1 Billion Worth of Bitcoin

Marcus_Web3
12-10

$Microsoft(MSFT)$ shareholders are about to vote on adding Bitcoin $Grayscale Bitcoin Mini Trust(BTC)$ to their treasury. Can we expect a new corporate FOMO wave?

Based on the recent news, here are the companies that have recently purchased Bitcoin:

  1. MicroStrategy $MicroStrategy(MSTR)$ : MicroStrategy has been actively buying Bitcoin, with the latest purchase of 21,550 bitcoins for approximately $2.1 billion, bringing its total holdings to 423,650 BTC, worth nearly $41.5 billion at current prices .

  2. Riot Platforms $Riot Platforms(RIOT)$ : Bitcoin miner Riot Platforms announced a $500 million convertible note offering to buy more Bitcoin .

  3. Block, Inc. (formerly Square) $Block(SQ)$ : By June 2024, Block held 8,027 BTC, worth around $573 million .

  4. Galaxy Digital Holdings: This crypto-focused merchant bank holds 8,100 BTC, with a dollar value of its holdings in June 2024 being just shy of $578 million .

  5. CleanSpark $CleanSpark, Inc.(CLSK)$ : A U.S. Bitcoin mining firm that holds 6,154 BTC .

  6. Semler Scientific: A healthcare technology company that recently acquired 303 Bitcoin worth $29.3 million, increasing its total Bitcoin holdings to 1,873 BTC .

These companies' recent purchases indicate a growing institutional interest in $Bitcoin(BTC.USD.CC)$ , especially with the approval of Bitcoin ETFs by the SEC and the increasing acceptance of Bitcoin as a reserve asset.

Below are companies consider to buy and hold $Bitcoin(BTC.USD.CC)$

  1. Marathon Holdings $MARA Holdings(MARA)$ and Semler Scientific (SMLR) $Semler Scientific, Inc.(SMLR)$ : These companies have also announced their intention to acquire more Bitcoin .

  2. Microsoft $Microsoft(MSFT)$ shareholders will cast their votes on whether the company should publicly assess adding Bitcoin to its balance sheet on Dec. 10.


BTC Retraces to $96000: Buy the Dip or Exit Now?
Bitcoin dropped to a low of $96,789, over $10,000 below Tuesday's all-time high, marking a 4% decline. Since the US election on November 5, Bitcoin's price has risen by more than 45%. Zann Kwan, CIO of Revo Digital Family Office, predicts that Bitcoin may retreat to just above the $90,000 level in the short term. ------------ What's your target price for Bitcoin in 2024? Is it good time to buy the dip or exit from Bitcoin?
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