Their biggest backers include an unlikely group of insurance companies, mutual funds and other usually conservative bond investors. The software company turned itself into a bitcoin whale and now owns some $48 billion of the cryptocurrency.
If you want exposure to Bitcoin without having to spend more than $100,000 for one coin, there are other ways to invest. You can buy fractions of a Bitcoin on crypto exchanges or brokerage platforms, invest in a Bitcoin ETF or look to crypto-related stocks and ETFs.
MicroStrategy stock was down in Tuesday morning trading after President Donald Trump’s inaugural address didn’t touch on his plans for Bitcoin. Despite promises of a “golden age” for cryptocurrency on the campaign trail and talk of a strategic Bitcoin reserve,
MicroStrategy bought another 11,000 Bitcoin for $1.1 billion ahead of Trump's inauguration. Total holdings are now at 461,000 BTC.
Michael Saylor’s Bitcoin strategy has attracted plenty of fanfare. Basically, MicroStrategy (NASDAAQ:MSTR) borrows money to buy more Bitcoin. The publicly-traded corporation currently owns about 2% of the world’s total Bitcoin supply,
Shareholders of MicroStrategy (MSTR) gave the company the go-ahead to boost its number of authorized class A common shares by 30-fold to finance purchases of bitcoin.
On the other hand, Coinbase is less affected by Bitcoin price fluctuations. As long as trading volumes remain high, whether through sell or buy transaction, it will continue make money from the trading fees. This article first appeared on GuruFocus.
With Bitcoin ETFs outperforming gold, this asset stands out as an important piece in diversified portfolios. Read my analysis of BTC-USD.
MicroStrategy shares closed down Wednesday, due to a decline in Bitcoin's price, which dropped 1.73% to $104,313.65.
"It's anyone's guess as to what will happen next, but it feels like it's going to be wild," the Greenlight Capital founder David Einhorn said.
As trader, the rise of corporations with largest Bitcoin holder is a trend worth monitoring as it reshapes boundaries of traditional & digital finance