MicroStrategy has raised its bitcoin holdings to more than 1% of all the cryptocurrency that will ever be issued.
Browsing: MicroStrategy
The results of MicroStrategy’s dodgy experiment with bitcoin have been scary – all the more so because of CEO Michael Saylor’s wilful blindness to the consequences.
A MicroStrategy unit received a $205-million loan collateralised by its bitcoin holdings that it plans to use to purchase more of the largest cryptocurrency.
Cryptocurrencies had a blockbuster year in 2021 by almost any measure.
It’s time for bitcoin’s corporate champions to account for a brutal selloff in the cryptocurrency.
Bitcoin hit a two-week peak just shy of $40 000 on Monday, after another weekend reacting to tweets from Tesla boss Elon Musk.
It’s certainly not at the same scale as a Tesla or a MicroStrategy, but some privately held South African firms have started converting a portion of their cash holdings into cryptocurrencies like bitcoin.
Promoted | It’s no secret that cryptocurrencies are difficult to understand. Yet demand for cryptos is increasing at an accelerated rate after Tesla recently bought $1.5-billion worth of bitcoin.
Bitcoin is closing in on a market value of $1-trillion, a surge that’s helping cryptocurrency returns far outstrip the performance of more traditional assets like stocks and gold.
Bitcoin jumped again on Wednesday to set another all-time high after breaching $50 000 for the first time a day earlier.