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- MicroStrategy’s $2B Bitcoin Acquisition Signals Continued Growth Amid BTC Surge
MicroStrategy’s $2B Bitcoin Acquisition Signals Continued Growth Amid BTC Surge
News on the Blockchain
November 12, 2024
@newsontheblockchain, 12/11/2024
Confidence in Knowledge. Providing daily news to make sure you're up to date!
🌍 Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 2.4M+
Exchanges: 763
Market Cap: $3.02T (+9.54% 24h)
24h Volume: $331.5B (+40.91% 24h)
Bitcoin Dominance: 58.3%
Ethereum Dominance: 13.7%
ETH Gas Price: 31.81 Gwei
Fear & Greed Index: 88 (Extreme Greed)
🪙 Top 5 Cryptocurrencies by Market Cap:
Name | Price | 24h Change | Market Cap | 24h Volume |
|---|---|---|---|---|
Bitcoin (BTC) | $88,420.05 | +8.52% | $1.75T | $146.45B |
Ethereum (ETH) | $3,407.47 | +7.87% | $410.34B | $63.73B |
Tether (USDT) | $1.00 | +0.01% | $124.12B | $264.29B |
BNB (BNB) | $649.36 | +4.49% | $93.57B | $3.80B |
Solana (SOL) | $220.21 | +4.54% | $103.92B | $11.17B |
💹 Market Highlights:
Total DeFi Volume: $16.08B (4.85% of total market volume)
Stablecoins Volume: $302.18B (91.16% of total market volume)
Coin with highest % change: EGO (+249.76%)
🔥Heat Map:
📈 Preview On Today’s News:
- MicroStrategy’s $2B Bitcoin Acquisition Signals Continued Growth Amid BTC Surge
- Bernstein Urges Bitcoin Investment Amid Trump-Driven Bull Market Surge
- Peter Schiff Critiques Trump's Bitcoin Reserve Proposal and Economic Risks
Keep reading for more!
Today’s Important News:
1)
MicroStrategy’s $2B Bitcoin Acquisition Signals Continued Growth Amid BTC Surge
MicroStrategy, led by CEO Michael Saylor, has purchased an additional 27,200 Bitcoin, worth $2.03 billion, continuing its aggressive investment strategy in the cryptocurrency. This acquisition comes after Bitcoin’s unprecedented surge to an $82,000 all-time high, marking the third record-breaking price event in 2024. With this purchase, MicroStrategy’s Bitcoin holdings now exceed $20 billion, yielding a 104% return on investment. The company’s strategy, which has included 42 separate Bitcoin buys at an average cost of $39,292, positions it to benefit further as Bitcoin is speculated to potentially surpass $100,000 by 2025.
MicroStrategy has purchased 27,200 Bitcoin, worth $2.03 billion, increasing its total holdings to over $20 billion.
This acquisition follows Bitcoin's record surge to $82,000 and reflects the company's strategy of buying Bitcoin at an average cost of $39,292.
2)
Bernstein Urges Bitcoin Investment Amid Trump-Driven Bull Market Surge
Bernstein, a $725 billion asset manager, is encouraging investors to buy Bitcoin as the cryptocurrency experiences a surge driven by Donald Trump’s 2024 presidential election win. Bitcoin reached an all-time high of over $82,000, and experts predict the current surge could just be the beginning, with Bitcoin potentially reaching $100,000 before Trump’s inauguration. Bernstein has advised hesitant investors to “invert their mental models” and seize the opportunity, asserting that now is the time to invest in Bitcoin and other crypto assets.
Bernstein urges investors to buy Bitcoin, driven by the surge following Trump’s 2024 election win.
Experts predict Bitcoin could hit $100,000 before Trump’s inauguration, with institutional interest continuing to grow.
3)
Peter Schiff Critiques Trump's Bitcoin Reserve Proposal and Economic Risks
Economist Peter Schiff has expressed skepticism about former President Donald Trump’s plan to establish a Bitcoin reserve if he is re-elected, warning that it could lead to significant economic risks. Schiff argues that purchasing a large amount of Bitcoin could cause price inflation, benefiting early adopters but destabilizing the economy. He further warns that if Bitcoin’s price increases dramatically, the government may deplete its reserves by selling Bitcoin and could be forced to print more dollars to stabilize the situation, which would worsen economic issues. Schiff remains an advocate for gold as a more reliable store of value.
Peter Schiff warns that Trump's Bitcoin reserve proposal could lead to unsustainable price inflation and government reserve depletion.
Schiff cautions that the government's need to print more dollars for stabilization could exacerbate existing economic problems.
