MARA purchases 6,474 Bitcoin with convertible notes offering
According to Bitcoin-only financial services firm River, 62 publicly traded companies use a Bitcoin treasury strategy as of November 2024.
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According to Bitcoin-only financial services firm River, 62 publicly traded companies use a Bitcoin treasury strategy as of November 2024.
On the yearly chart, Bitcoin rose 146% while MicroStrategy gained over 599% as more retail investment increased MicroStrategy’s volatility compared to BTC.
MicroStrategy acquires 55,000 Bitcoin for $5.4 billion, boosting its holdings to 386,700 BTC amid bullish institutional sentiment.
The insurance giant made the investment across four different sub-organizations, according to Bloomberg Terminal data shared by pseudonymous analyst Petruschki.
MicroStrategy stock has soared 94% in 2024, fueled by Bitcoin’s rally above $97,000, with $15 billion in unrealized gains.
Analysts expect MSTR stock to pump to as high as $450 as Bitcoin’s price continues to rise.
MicroStrategy upsizes its note sale to $2.6 billion to fund Bitcoin purchases, boosting confidence in BTC’s price reaching the $100,000 milestone.
Bitcoin appears to react to news that MicroStrategy went on a giant BTC buying spree last week.
Following its latest purchase, MicroStrategy now holds 331,200 Bitcoin bought for $16.5 billion, or $49,874 per BTC.
“Let’s be clear on one thing: Gary Gensler is evil,” Tyler Winklevoss said in a detailed thread about the SEC chair amid resignation rumors.
