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.
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.
The total value of all cryptocurrencies in circulation currently stands at $3.5 trillion, which is near a record high. Bitcoin ( BTC 1.17%) accounts for more than half of that value, thanks to its market capitalization of almost $2 trillion.
MicroStrategy Buys $1.1 Billion of Bitcoin
Shares of MicroStrategy Inc. (MSTR) fell nearly 1% in pre-market trading on Tuesday after Bitcoin (BTC) prices tumbled from highs of $109,114.88 to as low as $100,103.96 on Monday. President Donald Trump was expected to mention Bitcoin during his inauguration speech on Monday.
MicroStrategy continues its Bitcoin acquisition strategy with a new $1.1 billion purchase of 11,000 BTC, as announced by Michael Saylor.
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.
That all changed in 2020, when MicroStrategy's co-founder and then-CEO Michael Saylor directed it to buy 21,454 Bitcoin s (CRYPTO: BTC) for $250 million. It then accumulated more Bitcoin each year, and it held 450,000 Bitcoins as of Jan. 13.
The MicroStrategy CEO is buying as much of the cryptocurrency as he can. Some big-name investors are going along for the ride.
These are some of the top MSTR stock ETFs that give investors exposure to Michael Saylor's company. These funds also have other crypto firms.
As trader, the rise of corporations with largest Bitcoin holder is a trend worth monitoring as it reshapes boundaries of traditional & digital finance
MicroStrategy (MSTR) stock has been on an incredible upward trajectory, delivering jaw-dropping returns for its investors. In 2024, the stock soared an astounding 358.54%, vastly outpacing the S&P 500 Index’s ($SPX) 23.