After Bitcoin’s price spiked above $90,000 last week, MicroStrategy registered $26 billion in the cryptocurrency. The amount is more than the cash held by large corporations like IBM and Nike.
Last week, the price of Bitcoin, the largest cryptocurrency in the world, rose by 11% to $100,000. bringing the total worth of MicroStrategy’s Bitcoin, one of the largest Bitcoin holding corporations, to $26 billion.
In his X post on November 17, Michael Saylor, the executive chairman of MicroStrategy, said that the value of their Bitcoin surpasses the cash holdings of International Business Machine (IBM) Corp. and Nike Inc.
MicroStrategy’s $26 Billion #Bitcoin Cache Is Larger Than IBM, Nike Cash Holdingshttps://t.co/E5Q3bgDUsA
— Michael Saylor⚡️ (@saylor) November 16, 2024
By contrast, ExxonMobil’s treasury is equivalent to MicroStrategy’s Bitcoin. Additionally, their Bitcoin reserve worth is just slightly less than the treasuries of Intel and General Motors, which are around $29 billion and $32 billion, respectively.
The business became the first in the world to own Bitcoin when it purchased it in 2020. Later, several businesses, including Tesla and MetaPlanet, followed this deal.
After purchasing many Bitcoins over the previous four years, they currently own 279,420. Since acquiring Bitcoin for the first time, MicroStrategy’s stock has increased 2.100%, from $15 to $340.
MicroStrategy aims to acquire more Bitcoin
Within the next three years, MicroStrategy intends to purchase $42 billion worth of Bitcoin. They would get $10 billion in 2025, $14 billion in 2026, and 18 billion in 2026, respectively, under the 21/21 Plan.
In order to raise more money, the corporation would look into a number of financial possibilities, such as $21 billion from fixed-income securities and $21 billion from equity. Instead of being used for business development, this money will only be used to buy more Bitcoin.
In the next three years, MicroStrategy is expected to own almost 580.000 Bitcoins, or 3% of the total supply, if the investment materializes.
MicroStrategy purchased 7.420 Bitcoin for $458 million in October 2024. The business purchases over 27,200 Bitcoins for $2 billion the next month.
The market value of Bitcoin, the biggest cryptocurrency in the world, has increased by over $43 billion during the last day.
Poland presidential candidate Slawomir Mentzen calls for Bitcoin reserve in election pitch
Slawomir Mentzen, a Polish presidential contender hoping to emulate Donald Trump, suggests establishing a strategic Bitcoin reserve for Poland.
As part of his election campaign, Slawomir Mentzen, the candidate for president of Poland, has advocated for a strategic Bitcoin reserve. Global leaders have jumped on the bandwagon after Donald Trump’s victory in the US presidential election. As the price of bitcoin surges to almost $93,000, investor Mentzen anticipates a similar paradigm change in the Polish elections.
Slamowir Mentzen proposes strategic Bitcoin reserve for Poland
Slawomir Mentzen, the KORWiN party’s presidential candidate from Poland, called for Poland to establish its own strategic Bitcoin reserve in a post on the X platform on November 19. It’s interesting to note that Mentzen suggested supporting the establishment of this reserve with national banks and crypto-friendly policies. He wrote:
“If I become the President of Poland, our country will become a cryptocurrency haven, with very friendly regulations, low taxes, and a supportive approach from banks and regulators. BTC to the Moon!”
Poland is expected to have elections in May 2025, thus an early campaign for Bitcoin might change how the elections unfold in the upcoming months. Slawomir Mentzen can have a big impact with this Bitcoin drive, while being the candidate of a little party.
According to a number of market analysts, the Bitcoin Game Theory will soon be implemented across nation-states, quickly causing a domino effect. Prominent Bitcoin figures in the US, such as Cynthia Lummis and Michael Saylor, have begun talking to President-elect Donald Trump about the value of holding a Bitcoin reserve and how it might help cut the US national debt by an astounding $16 trillion.
It is evident that nation-state leaders now view Bitcoin as an essential reserve asset, much like gold. Additionally, Senator Cynthia Lummis suggested that state-federal banks sell a portion of the gold and use the money raised to purchase Bitcoin.
Polish presidential candidate is a Bitcoin investor
Polish presidential candidate Slamowir Mentzen disclosed in 2013 that he had put all of his money into Bitcoins ten years prior, amid the strategic Bitcoin Reserve promoting stories.
“In 2013, I bought cryptocurrencies with all the funds I had. I went all-in and did very well, but that was 2013,” he stated in an interview on Filip Kowiarski’s YouTube channel. Additionally, he responded to charges of pressuring people to purchase Bitcoin or offering any kind of like guidance. He stated in his interview:
“I have been holding Bitcoins for years, I have been holding cryptocurrencies. I bought them back in 2013, at the beginning of this year I sold a little bit (…), but I hold the vast majority. Some people accuse me of trying to sell cryptocurrencies and saying: buy them. I am absolutely not trying to sell cryptocurrencies to anyone, I have not bought any cryptocurrencies for years, it is a very risky investment”.
BTC price to rally over $100K?
The price of Bitcoin (BTC) is $90,547 at the time of writing, and its market value is $1.791 billion. Although a number of market observers believe that Bitcoin will reach $100,000 before the end of the year, bulls appear to be waiting it out. Bitcoin rose more than 32% in a month.
According to well-known cryptocurrency expert Rekt Capital, the top for Bitcoin has not yet been reached and three to four weeks of rallying are still ahead until a top is called based on past patterns.
In the 2013, it took 6 weeks of upside into Price Discovery before #BTC experienced any sort of deeper pullback
In the 2017 cycle, BTC rallied 8 weeks into Price Discovery before a deeper pullback
In the 2020/2021 cycle, $BTC rallied 4 weeks into Price Discovery before a deeper…
— Rekt Capital (@rektcapital) November 17, 2024
Shiba Inu burn rate soars 6200%, SHIB price to $1 possible?
Today’s more than 6200% increase in the Shiba Inu burn rate sparked investor excitement and suggested that the price of SHIB would rise to $1.
A strong 6200% increase in the Shiba Inu (SHIB) burn rate on Monday sparked excitement among investors worldwide. Investors are examining how the development could affect the meme token’s price as it faces with a severe shock to its market supply. Concurrently, the price of SHIB had a remarkable intraday jump, which fueled more market confidence over future action amidst a surge in burn rate.
Shiba Inu burn rate surges 6200% sparking bullish market sentiments
The Shiba Inu burn rate increased by 6223% in the last day, according to the most recent statistics provided by the tracker Shibburn on November 18. 290,321 coins were destroyed in a single day, according to the statistics. The aforementioned spike was caused by this enormous token burn, which attracted significant attention to the cryptocurrency in a bull market, particularly since investors’ interest has switched to the leading meme currencies.
The aforementioned burn surge further contributed to the coin’s overall supply, which at the time of publishing was estimated to be 589.26 trillion tokens. It’s also important to note that throughout the previous week, 135 million SHIB were removed from the meme token’s supply. Overall, market attitude toward the coin’s price became optimistic, reflecting the rule of supply and demand, since the supply took a severe hit.
Is SHIB price to $1 possible?
As of this writing, the price of Shiba Inu (SHIB) has increased by 4% intraday and is currently trading at $0.00002511. The 24-hour high and low of the meme coin were $0.00002563 and $0.00002403, respectively. Interestingly, the increasing mobility corresponds with the aforementioned increase in Shiba Inu burn rate.
Coinglass data showed that SHIB futures OI increased by 6% to $93 million at the same time. This statistic highlights increased investor interest in the asset, setting the stage for future gains.
Additionally, according to a recent Shiba Inu price study, the currency shows promise for future growth, even though a $1 price objective is still quite optimistic. In the midst of a bull market following the US elections, market observers are still keeping an eye on the token for more price action changes.
