Lưu trữ cho từ khóa: MicroStrategy

Bitcoin

Japanese firm Metaplanet secures $6.8m loan to bolster Bitcoin holdings

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Japanese investment firm Metaplanet has secured a 1 billion yen loan, the entire amount of which will be used to buy Bitcoin (BTC).

Details Metaplanet shared in an Aug. 8 post on X show that the lender is MMXX Ventures, which itself holds shares in Metaplanet. The loan term will run for six months starting Aug. 8 and will attract an interest rate of 0.1% per annum.

The Tokyo Exchange-listed company is expected to repay the collateral-free loan in one lump sum after the loan period elapses.

Were Metaplanet to buy Bitcoin (BTC) right now, the loan amount, which amounts to $6.8 million at current exchange rates, could get it about 119 BTC, with one BTC currently priced at $57,170.

Metaplanet’s announcement comes only days after the investment company said it intended to raise $70 million through a stock rights offerings, with more than 80% of that amount earmarked for buying Bitcoin.

The loan and stock rights offerings are part of Metaplanet’s plan to grow its crypto holding, which is reportedly at 246 BTC, worth just north of $14 million. The company is looking to hedge its long-term growth by leveraging Bitcoin’s potential long-term appreciation, with some analysts predicting the cryptocurrency’s price could go as high as $1 million in the next decade.

This move is quite similar to what MicroStrategy has been doing in the last few years. The U.S. company currently holds more than 79,000 BTC, which is valued at about $4.5 billion. MicroStrategy CEO Michael Saylor, on Aug. 7, revealed that he personally owns Bitcoin worth more than $1 billion, meaning he could hold as much as 20,000 BTC in his trove.

Meanwhile, the price of Bitcoin has gone up slightly in the last 24 hours. At the time of writing, it showed a 0.7% improvement from the previous day, and had registered a 24 hour trading volume of $43.5 billion, making it the second-most traded digital asset after Tether (USDT).

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Bitcoin

Michael Saylor reveals $1b in personal Bitcoin holdings

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Michael Saylor, the executive chairman of MicroStrategy, has revealed his personal Bitcoin holdings amount to $1 billion.

Saylor, a prominent Bitcoin (BTC) advocate, has been a vocal proponent of Bitcoin’s potential, predicting future value increases and advocating for it as a great option for long-term capital management.

MicroStrategy, under Saylor’s leadership, has also amassed a substantial Bitcoin reserve, holding approximately 226,500 BTC as of Aug. 1. 

“I think we see great signs of Bitcoin adoption around the world,” said Saylor at a Bitcoin Park fireside chat. 

At its current price of $56,000, a billion dollars worth of Bitcoin would be equivalent to approximately 17,857 BTC.

MicroStrategy’s aggressive Bitcoin adoption

The company’s aggressive Bitcoin acquisition strategy has been part of its broader investment strategy, with Saylor stating that Bitcoin represents a hedge against inflation and a superior store of value compared to traditional assets.

MicroStrategy recently announced plans to raise $2 billion through the sale of its class A shares to invest further in Bitcoin and manage debt. The company, already the largest public Bitcoin holder, filed with the SEC on Aug. 1 to pursue the strategy. 

The Virginia-based firm aims to capitalize on Bitcoin’s strong performance, although the timeline for their most recent share sale remains unspecified. Proceeds will be used for general corporate purposes, primarily acquiring more Bitcoin.

Saylor has long stated that MicroStrategy will continue to buy and hold Bitcoin for years without any aggressive plans to sell. 

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Bitcoin

MicroStrategy seeks raising $2b to buy more Bitcoin

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MicroStrategy is seeking to raise $2 billion by selling its class A shares to buy more Bitcoin as well as repay debt.

MicroStrategy, the world’s largest public Bitcoin (BTC) holder, filed a regulatory filing on Aug. 1, seeking to raise billions worth of capital to double down on its crypto strategy as Bitcoin shows no signs of slowing down.

In the regulatory filing with the U.S. Securities and Exchange Commission, the Virginia-headquartered company said that it plans to raise $2 billion by selling its class A shares. While the exact timeline for selling these shares was not disclosed, the filing reads that the proceeds will be used for “general corporate purposes, including the acquisition of Bitcoin.”

“We intend to use the net proceeds from the sale of any class A common stock offered under this prospectus for general corporate purposes, including the acquisition of bitcoin, unless otherwise indicated in the applicable prospectus supplement.”

MicroStrategy

The company also did not specify how much of the proceeds will be used for Bitcoin purchases, saying it has not determined the amount of net proceeds “to be used specifically for any particular purpose.”

MicroStrategy wants to buy even more Bitcoin

The filing coincides with the release of MicroStrategy’s Q2 financial results. The company reported acquiring 12,222 BTC during the quarter, spending over $805 million at an average price of $65,880 per BTC. The company’s latest acquisition brings its total Bitcoin holdings to 226,500 BTC, acquired at a cumulative cost of $8.3 billion as of July 31. Additionally, MicroStrategy unveiled a “BTC Yield,” a new KPI targeting annual returns of 4-8% over the next three years.

Despite MicroStrategy’s encouraging plans regarding its Bitcoin policy, the company’s software business underperformed in Q2, posting $111.4 million in revenue, below analysts’ expectations of $119.3 million, per Bloomberg. The company’s net loss was around $102 million, while its net income was at $22.2 million. Following the financial report, MicroStrategy shares (MSTR) plunged by over 6.3% to $1,511, data from Google Finance shows.

MicroStrategy has consistently used share sales to fund its Bitcoin purchases. In late 2023, the company sold $750 million worth of shares with the intention of buying more Bitcoin. Subsequent reports confirmed multi-million dollar acquisitions of the cryptocurrency, reinforcing its commitment to its Bitcoin-centric strategy.

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Phân tích

MicroStrategy stock rises as Bitcoin price pierces the falling wedge

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MicroStrategy stock price was higher by 3% Monday morning as Bitcoin retested the crucial resistance at $70,000.

Bitcoin stocks are rising

Bitcoin-related stocks rallied in the pre-market session as Bitcoin (BTC) continued its rebound. MicroStrategy (MSTR) soared to $1,828, its highest point since March 28.

Importantly, the stock has continued to outperform Bitcoin and spot ETFs like IBIT, FBTC, and ARKB, rising by over 177% this year while Bitcoin is up by 57%. Other companies like Riot Platforms, Marathon Digital, and Core Scientific also rose by over 5% in the pre-market session. Coinbase, the biggest crypto exchange in the US, also rose by 4% ahead of its upcoming earnings.

MicroStrategy’s stock benefits when Bitcoin rallies as it is the largest holder in the world with 226,331 coins. The company added more coins this month, using part of the $700 million it raised in June. 

In a statement at the Bitcoin Conference in Tennessee, Michael Saylor, the company’s Chairman, said that the coin would rise to $13 million, while VanEck predicted that the coin would rise to $2.9 million by 2050.

Bitcoin has more upside now that its futures open interest has jumped to a record high and after the price soared above the upper side of the falling broadening wedge chart pattern. This wedge is one of the most bullish patterns. The breakout happened after the coin moved to the third phase of the three drives pattern.

MicroStrategy earnings ahead

The next important MSTR stock news will be the upcoming earnings on August 1. The average estimate is that its revenue rose to $121 million in the second quarter from $115 million in Q1. It will also be higher than the $120 million it made in the same quarter in 2023. 

Unlike other companies, MicroStrategy’s earnings don’t have a major impact on the stock because of its vast Bitcoin holdings. Its stock dropped by less than 5% when it published its first-quarter results and barely moved after its Q4 2023 earnings.

A key concern among investors is that it has become highly overvalued, with a market cap of over $31 billion against Bitcoin holdings worth $15.8 billion. Its core solution has not been doing well, with annual revenue falling from $499.3 million in 2022 to $496 million in 2023.

Another catalyst for MSTR shares will be its stock split scheduled for August 8. The 10-1 stock split will bring its stock around $175, making it more accessible to retail traders. In most cases, shares rise ahead of a stock split.

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Công nghệ

Brevan Howard’s new fund to target firms with crypto on balance sheets: report

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Brevan Howard’s crypto hedge fund has launched a new unit that will help companies generate more returns on their crypto treasuries.

Brevan Howard Asset Management’s crypto-focused branch, Brevan Howard Digital, has unveiled a new unit aimed at enhancing returns for companies holding crypto as a reserve asset.

According to a Financial News report, the new unit called BH Digital Solutions will be led by Chris Rayner-Cook, former head of trading and financing at Coinbase. The unit’s initial focus will be on blockchain and crypto mining companies, helping them generate increased returns from their holdings.

The launch comes as BH Digital, Brevan Howard’s crypto hedge fund which manages $2.3 billion, reported a 20% increase in assets under management in the first half of 2024. As crypto.news reported, since its launch in late 2021, BH Digital has seen its assets swell to $2.3 billion, with a more than 50% gain since its trading debut in March 2022.

Gautam Sharma, CEO of Brevan Howard Digital, emphasized that the new unit represents a “natural extension” of the firm’s offerings, highlighting the growing “opportunities” in the crypto space for institutional investors.

As the financial landscape remains uncertain, an increasing number of companies are incorporating crypto into their balance sheets. Data from BitcoinTreasuries.com reveals that over 90 companies globally hold Bitcoin (BTC), with MicroStrategy leading the pack with more than 226,330 BTC, valued at over $15.7 billion at current prices.

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Bitcoin

Bitcoin Nashville starts today: what to expect

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Bitcoin Nashville is about to kick off, with industry attention centered on former President Donald Trump’s keynote address on Bitcoin and the whole crypto industry.

Hours left before the Bitcoin Conference in Nashville, Tennessee, kicks off, bringing together key industry figures from the crypto world and and high-profile politicians for a comprehensive look at the market.

The most attention is focused on former President Donald Trump, who is expected to deliver a “historic message,” event organizer and BTC Inc. chief of staff Brandon Green told media. Despite the hype, the market appears unfazed, with Polymarket bettors skeptical that Trump will announce anything substantial.

What is clear is that the event will be a financial success for Trump as Bitcoin Magazine chief executive David Bailey reportedly committed to raising $15 million for the Republican presidential nominee during the conference.

Pro-crypto Republican Sen. Cynthia Lummis of Wyoming is also expected to make significant announcements, potentially revealing that she’s been working on new legislation requiring the Federal Reserve to hold Bitcoin (BTC) as a strategic reserve asset. Other speakers include independent presidential candidate Robert F. Kennedy Jr., ARK founder Cathie Wood, and former MicroStrategy chief executive Michael Saylor, though the details of their speeches remain unclear.

As crypto.news reported earlier, the conference will also feature controversial figures, such as British comedian Russell Brand, who has faced multiple accusations of sexual assault and inappropriate behaviour from several women. He’s faced an investigation from police and has been questioned by detectives. More on that in our deep dive here.

Prior to yesterday, there was also speculation that Vice President and presumptive Democratic nominee Kamala Harris might attend the conference as well, but she reportedly declined following discussions with organizers. Trump is expected to be speaking at 2 p.m. CT (19:00 UTC) for 30 minutes on Jul. 27, the final day of the conference.

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Bitcoin

MicroStrategy buys 12k new BTC

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MicroStrategy shows no signs of slowing down with another 6 million purchase of Bitcoins.

MicroStrategy expanded its Bitcoin holdings with the purchase of 11,931 BTC for 6 million in cash “using proceeds from convertible notes,” the firm’s founder Michael Saylor confirmed in a Thursday morning X post.

The company also confirmed in a regulatory filing that it acquired the nearly 12,000 BTC between April 27 and June 19 at an average price of approximately ,883 per BTC. With the latest purchase, MicroStrategy, together with its subsidiaries, now hold 226,331 BTC valued at around billion.

The purchase follows less than a week after MicroStrategy announced an 0 million offering in convertible senior notes at a rate of 2.25% per annum, aimed at further Bitcoin acquisitions. Despite the massive purchase, MicroStrategy appears to be second only to BlackRock, which currently holds over 305,000 BTC in its spot Bitcoin exchange-traded fund.

Following the announcement, MicroStrategy’s share price (MSTR) increased by 2.3% in pre-market trading, reaching ,503, according to Nasdaq data. As of press time, Bitcoin is trading at approximately ,944, as per CoinMarketCap data.

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Bitcoin

MicroStrategy upsizes convertible offering to $700m to buy Bitcoin

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MicroStrategy has revealed the pricing of its convertible senior notes offering of 0 million.

The announcement comes a day after the company outlined an initial 0 million offering, with this latest press release noting an upsize to 0 million aggregate principal amount of notes. MicroStrategy expects the offering to close on June 17, 2024.

“The notes will be unsecured, senior obligations of MicroStrategy, and will bear interest at a rate of 2.25% per annum, payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2024,” the company wrote.

Notes mature on June 15, 2032, unless there’s an early repurchase, redemption or conversion.

MicroStrategy reveals pricing for its convertible notes offering

According to the firm’s statement published on June 14, the notes’ conversion rate is set at 0.4894 shares of MicroStrategy’s class A common stock per ,000 principal amount of notes.

This will be equivalent to approximately ,043.32 per share and represent a 35% premium over the U.S. composite volume-weighted average price (VWAP) of the company’s stock on Thursday, June 13, 2024. That price stood at ,513.46.

In its update, MicroStrategy said the 0 million raise offers qualified institutional buyers the option for an additional 0 million. The initial offer on June 13 highlighted an additional million of the aggregate principal amount.

On Thursday, MicroStrategy announced it was redeeming 0 million of convertible notes due in 2025, with all conversion requests settled in shares. The redemption date is July 15, 2024. 

0m to buy Bitcoin

The company anticipates a total raise of 7.8 million, or up to 6.0 million should initial buyers fully exercise the option to acquire additional notes.

As noted on Thursday, MicroStrategy plans to use proceeds of the notes offering to purchase additional Bitcoin (BTC). Currently, the company holds 214,400 BTC, the largest by a corporate entity outside of the massive trove that supports BlackRock’s spot ETF.

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Bitcoin

MicroStrategy to buy more Bitcoin after raising $500m

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MicroStrategy is looking to offer 0 million worth of convertible senior notes, with proceeds used to purchase additional Bitcoin (BTC), the company announced on Thursday. Notes mature in 2032.

On Thursday, MicroStrategy revealed plans to offer qualified institutional buyers the opportunity to purchase unsecured convertible senior notes that will be due in 2032.

Stating that the private offering would be subject to market conditions and other factors, the company said these notes will bear interest payable semi-annually and in arrears every June 15 and December 15.

This will run until maturity on June 15, 2032, unless the notes are repurchased, redeemed or converted as per the offering’s terms.

MicroStrategy, could, subject to conditions, redeem for cash, all or some of the notes.

“Holders of the notes will have the right to require MicroStrategy to repurchase for cash all or any portion of their notes on June 15, 2029,” the US-based firm noted.

MicroStrategy will use proceeds to buy more Bitcoin

According to today’s announcement, notes are convertible into cash, shares of the company’s class A common stock, or a combination of the two.

The reference price in the calculation of the initial conversion will be the composite volume weighted average of MicroStrategy’s stock from 9:30 am through 4:00 pm EDT on the date of the pricing.

If the sale happens, MicroStrategy will use the net proceeds to buy more Bitcoin to add to the 214,400 BTC the company held as of April 30, 2024.

The company will also use these funds for other corporate purposes.

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