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Nov 23, 2024
by Sujit Kumar
Bitcoin Nears $100K as MicroStrategy Ups Its BTC Investments
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Bitcoin (BTC), the largest cryptocurrency by market capitalization, is on the verge of reaching the much-anticipated $100,000 mark. During Saturday's trading session, Bitcoin hit intraday highs of $99,044, following Friday's peak of $99,543. Despite coming within $140 of the milestone, BTC has yet to breach this psychological barrier.
Michael Saylor, co-founder and chairman of MicroStrategy, took to Twitter, saying, "The price of BTC is still less than $0.1 million," emphasizing that the $100,000 milestone is tantalizingly close. Bitcoin’s recent surge has been fueled by growing investor confidence, bolstered by the introduction of options on U.S. exchange-traded funds (ETFs).
MicroStrategy Doubles Down on Bitcoin
While Bitcoin edges toward six figures, MicroStrategy continues to dominate headlines with its aggressive Bitcoin acquisition strategy. The company recently completed a $3 billion convertible note offering, upsizing from the initial $1.75 billion due to strong demand. These notes carry a 0% coupon and a 55% conversion premium, with an implied strike price of $672
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.