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A rebound in the price of bitcoin has sharply narrowed losses for MicroStrategy's (MSTR) holdings of the cryptocurrency. When Michael Saylor stepped down almost exactly a year ago as CEO of MicroStrategy to become its executive chairman with a sole focus on investing in bitcoin, his digital-asset strategy was looking
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Since adopting its bitcoin strategy, which is to convert all of its earnings from its core software intelligence business into bitcoin, the company has generated a 254% return, outperforming the cryptocurrency, which has risen 145% since then, according to a research report from TD Cowen. Source
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MicroStrategy co-founder and former CEO Michael Saylor has stated that potential Spot Bitcoin ETF approvals will not influence the company’s “Bitcoin Strategy.” MicroStrategy
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Following the recent exploit of Curve Finance pools, there have been genuine concerns about the stability of the decentralized exchange and the
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TD Cowen analyst Lance Vitanza, who initiated coverage on the Michael Saylor-led firm last Wednesday with an outperform rating, praised the company for its “hybrid corporate strategy.” MicroStrategy is known for converting all of its earnings from its core software intelligence business into bitcoin. This approach represents a “paradigm shift,”
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MicroStrategy holds around 152,000 bitcoin, with a total cost basis of about $4.5 billion, and an average price of roughly $29,600, the note said. The market value of MicroStrategy’s cryptocurrency assets form about 0.78% of the total bitcoin in supply and account for around 20% of daily average BTC trading
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“In terms of leverage, we don’t want this to turn into a full blown leverage casino. So for Bitcoin, the max leverage we are offering is 20x, and then for ETH and BNB, just 10x,” said Moro. “But of course, if we only traded bitcoin, ETH and BNB, then, frankly,
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Summary: MicroStrategy added to its massive Bitcoin coffers with a $347 million purchase.The company bought an additional 12,333 BTC at an average price of $28,136 per coin, Founder and Chairman Michael Saylor shared.MicroStrategy now owns 152,333 Bitcoins worth approximately $4.6 billion, further solidifying the company as the largest corporate holder
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The firm bought over 12K bitcoin for $347 million in the last two months. Source
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Saylor's MicroStrategy began buying bitcoin in 2020 while calling the cryptocurrency a million times better store of value than gold. The company now holds approximately 140,000 bitcoin worth about $4 billion. In March 2023, Saylor lost a bid to dismiss claims that he failed to pay personal income taxes, interest
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