Tag - MicroStrategy

MicroStrategy will continue to hodl Bitcoin

Crypto News

MicroStrategy, Bitcoin

MicroStrategy CEO Michael Saylor said that the analytics software provider anticipated market volatility when choosing its bitcoin investment strategy. He assured that the company is ready to store the cryptocurrency further.

MicroStrategy initially allocated its assets in such a way as to continue to hodl in “unfavorable conditions” in the market. The company holds 129,218 BTC.  Amid the collapse in the price of the first cryptocurrency, MicroStrategy’s  loss from bitcoin holdings exceeded $1 billion. Saylor has consistently stressed that the company will continue to follow its strategy of buying and holding bitcoin. He is convinced that this policy will provide the software vendor with a “bright future” for years to come.

The head of MicroStrategy previously said that the price of bitcoin would have to fall below $3562 for the company to lack the digital assets to secure loans.

 

Coinbase, MicroStrategy Fell With Bitcoin

Crypto News

Bitcoin plunge

June 13 trading session on stock exchanges in the U.S. opened with a significant drop in shares of cryptocurrency-oriented companies. Over the past 24 hours, bitcoin has lost 13.3%, according to CoinGecko. The price of digital gold dipped below $24,000, with the asset trading near $23,740 as of this writing. At the open, shares of analytics software provider MicroStrategy were down 25.24%, Coinbase down 13.5%, and Silvergate Capital down 14%. According to Bitcoin Treasuries, MicroStrategy’s 129,218 BTC is now worth just over $3 billion. Earlier, the head of the company Michael Saylor reiterated his commitment to the first cryptocurrency.

Marathon Digital shares were down 12.33%;
Riot Blockchain, down 10.46%;
Core Scientific, down 12.45%;
Bitfarms, down 9.43%;
Bit Digital, up 8.8%;
Argo Blockchain, up 16.64%;
Hut 8 Mining and Hive Blockchain lost 10% and 9.6%, respectively.

Futures on the Nasdaq 100 fell 2.54% and the S&P 500 fell 2.5%.

MicroStrategy bought 262 BTC worth about $15 million

Crypto News

MicroStrategy bought 262 BTC worth about $15 million. The digital asset held by the analytics software provider reached 91,326 BTC.

The average purchase price was $57,146 per coin, including fees and other expenses.

The company’s total investment in digital gold was more than $2.2 billion. At the time of writing, the value of assets exceeded $5.1 billion (according to CoinGecko).

In August 2020, MicroStrategy was the first public company to convert a portion of its $250 million equity into a leading cryptocurrency.

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