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Saylor sees Bitcoin’s potential to soar even higher, especially once regulators approve financial firms’ Bitcoin spot ETF products. MicroStrategy Inc (NASDAQ: MSTR), the software firm led by Executive Chairman Michael Saylor, has seen its shares surge by an astounding 246% in 2023. Saylor attributes this success to Bitcoin (BTC), which has not only
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Saylor had begun purchasing bitcoin for MicroStrategy’s balance sheet in August 2020, fueling its stock rally alongside bitcoin in 2020 and 2021. Taking a wider view, Saylor this week pointed out that MicroStrategy’s share price is up 254% since he first began making bitcoin purchases, well ahead of the Nasdaq’s
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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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“We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and working capital, and, subject to market conditions,” already issued bonds, according to MicroStrategy’s Tuesday filing. Source
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Cboe has been working with a number of providers to finally get an application for a spot bitcoin ETF approved by the U.S. Securities and Exchange Commission (SEC), including Fidelity, WisdomTree and ARK Invest. Meanwhile, BlackRock (BLK) is doing the same with Nasdaq. 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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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
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Bitcoin’s recent hike has brought MicroStrategy’s Bitcoin bet closer to profitability again. Under Michael Saylor, the IT firm spent over $4 billion to acquire more than 138,900 BTC over three years. The Bitcoins were purchased for an average price of $29,817, just $1500 more than its current price. The company’s share price has
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