MicroStrategy recently finalized a $3 billion convertible notes offering, reinforcing its commitment to expanding its Bitcoin holdings.
The announcement coincides with Bitcoin reaching a new all-time high of $99,314. The funds will primarily be used to acquire more Bitcoin, adding to the company’s existing reserves of 331,200 BTC, valued at over $4.6 billion.
Analysts speculate this massive cash injection could propel Bitcoin’s price to $135,000 by the end of the year, driven by Saylor’s aggressive purchasing strategy.
MicroStrategy’s stock (MSTR) has seen volatile movement, initially dropping 16% after a 106% rally in November.
ETFs tied to MicroStrategy have also driven trading volumes, with leveraged ETFs seeing billions in activity, surpassing trading volumes of major tech stocks like Apple.
Meanwhile, institutional interest in Bitcoin continues to grow. BlackRock’s Bitcoin ETF (IBIT) recorded $5 billion in trading volume, its second-highest day ever, contributing to total inflows into spot Bitcoin ETFs exceeding $1 billion.
Bitcoin giant Strategy has added another 4,980 BTC to its reserves in a purchase worth approximately $531.9 million, according to Executive Chairman Michael Saylor.
According to renowned market veteran Peter Brandt, trading isn’t the path to prosperity for the vast majority of people.
Charles Edwards, founder and CEO of Capriole Investments, has offered a fresh perspective on Bitcoin’s stalled price movement near the $100,000 mark, despite growing institutional enthusiasm.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.