According to Odaily, MicroStrategy has made an additional purchase of 11,931 Bitcoins, valued at approximately $786 million. As of June 20, 2024, MicroStrategy's Bitcoin holdings have reached a total of 226,331 Bitcoins. The average price per Bitcoin in their possession is $36,798, bringing the total value of their Bitcoin holdings to approximately $8.33 billion. This move is part of MicroStrategy's ongoing investment in the digital currency, demonstrating their confidence in Bitcoin as a valuable asset.

MicroStrategy’s X account fell victim to a hack on Monday, resulting in a phishing message being posted for its followers, blockchain sleuth ZachXBT reported. This phishing attempt has already resulted in the theft of $440,000 worth of crypto.
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Once again, the crypto community is on high alert following the compromise of the official X account (previously known as Twitter) of business intelligence firm MicroStrategy by hackers.

Phishing Attack Targeting MicroStrategy Users
The attack occurred on Monday morning and revolved around the dissemination of malicious links promoting a fake airdrop of a non-existent “MSTR” token purportedly based on the Ethereum blockchain.
Unsuspecting users who clicked on these links were redirected to a fraudulent webpage cleverly designed to mimic MicroStrategy’s legitimate platform.
Upon arrival at the fake webpage, users were prompted to connect their crypto wallets. By doing so, they unknowingly granted the attackers the necessary permissions to access and drain their cryptocurrency holdings.
MicroStrategy: Target of Repeat Cyber Attacks
This recent breach isn’t the first time MicroStrategy has been targeted by malicious actors seeking to exploit its established reputation and loyal following. In 2022, the company’s CEO, Michael Saylor, fell victim to impersonation on social media, where he was used to promote a fake cryptocurrency giveaway.

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According to findings by blockchain sleuth ZachXBT and anti-scam platform Scam Sniffer, the losses resulting from this elaborate scam have already surpassed $440,000. Shockingly, one individual alone lost a staggering $420,000 worth of various altcoins.
there was a second best after all(hacked acc if not obvious lol) pic.twitter.com/cdLqbqiiCO— Spreek (@spreekaway) February 26, 2024

This latest incident underscores a concerning trend where hackers leverage compromised accounts of trusted individuals and companies within the crypto space. By manipulating user trust, they succeed in stealing digital assets, highlighting the need for heightened vigilance and security measures within the community.
someone lost $424,786 worth of $wBAI, $wPOKT, and $CHEX to phishing scams about 5 minutes ago. pic.twitter.com/GEJvHEXuM7— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) February 26, 2024

Phishing Attacks on Rise in Crypto Industry
The recent hack on MicroStrategy is part of a wider problem affecting the crypto world. Back in January 2023, the official accounts of the US Securities and Exchange Commission (SEC) and CoinGecko, a popular crypto data site, were also hacked. This led to fake news spreading and attempts to trick people into scams.
Also Read:   South Korea Considers Crypto Tax Delay Amid Election Campaign

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Similarly, in the same year, hackers targeted Ethereum co-founder Vitalik Buterin’s account. They used it to share a fake link from ConsenSys, a major blockchain company, tricking many followers into sending over $700,000.
These events show how vulnerable social media platforms are to these types of attacks. They remind us all to be extra careful when we see online offers, especially those promising free tokens or rewards.
Experts say it’s crucial to double-check any information before clicking on links or sharing wallet details, especially if it’s from someone or somewhere you trust.
MicroStrategy’s Silence on Recent Hack Raises Concerns
MicroStrategy hasn’t said anything official about the recent hack on its X account. This silence has left users and the wider crypto community without any updates on what’s happening.
People have different ideas about why MicroStrategy hasn’t spoken up yet. Some might think it shows the company wasn’t careful enough and didn’t handle the security breach well. Others might think MicroStrategy is having a hard time dealing with the problem and figuring out how to fix it, so they’re taking longer to give updates.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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#Microstrategy  #Bitcoin  #Altcoin  #Cryptocurrency  #CryptoNews

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According to Michael Saylor, Embracing Bitcoin Strategy Is the Key for Small Firms to Compete with the Magnificent Seven.

Bitcoin has made a remarkable comeback, notching up a 70% increase in value since the start of 2023, reaching the $35,000 mark. Meanwhile, MicroStrategy, the largest corporate Bitcoin holder globally, has begun reaping substantial profits from its Bitcoin holdings, which were acquired at an average cost of less than $30,000.
Michael Saylor’s Strategy for Bitcoin
In a recent interview with Fox Business, Michael Saylor advocated that companies aiming to compete with the influential “Magnificent Seven” should veer away from traditional corporate strategies and embrace the Bitcoin playbook to safeguard their capital.
The “Magnificent Seven” comprises major companies responsible for the majority of the S&P 500’s impressive year-to-date gain of nearly 13%. These prominent firms include Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), Nvidia (NVDA), Meta Platforms (META), and Tesla (TSLA). Among these, only Tesla holds Bitcoin on its balance sheet, and the recent quarterly filings confirm that the company has maintained its Bitcoin holdings without any changes.
In the backdrop of the 2023 Bitcoin price rally, MicroStrategy’s stock (MSTR) has also experienced a remarkable year-to-date surge of 213%, surpassing the performance of all the Magnificent Seven companies. In fact, MSTR has delivered returns that are 3-4 times higher than those of the seven prominent firms.
Saylor contends that most companies are grappling with the challenges of inflation, high-interest rates, and technology-driven deflation. Thus, he suggests that by embracing a Bitcoin strategy similar to that of MicroStrategy, companies can enhance their ability to reward shareholders effectively.
According to Michael Saylor, Bitcoin offers an innovative avenue for companies to safeguard their capital and increase shareholder value. This entails leveraging their balance sheets to integrate Bitcoin (BTC), providing an alternative to the costly cycle of acquisitions, stock buybacks, dividends, and debt.
MicroStrategy Expands Its Bitcoin Holdings
MicroStrategy has been actively acquiring and incorporating Bitcoins into its balance sheet for the past three years. In a recent announcement, the company revealed its most recent acquisition of 155 BTC, valued at $5.3 million.
Michael Saylor, while discussing Bitcoin’s dominance, underscored its exceptional performance by highlighting the cumulative returns it has delivered. Saylor recently shared a total returns chart for various asset classes, revealing Bitcoin’s remarkable 1,120,785% return from 2011 to 2023. This translates to an annualized return of 147.5%, a truly outstanding figure.
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#CryptoMarket #Bitcoin #CryptoNews #Saylor #Microstrategy

The recent increase in the price of Bitcoin has done wonders to reestablish the community's faith in the leading cryptocurrency. But, one shareholder in particular, Michael Saylor's Microstrategy, welcomed the raise. When Saylor made the decision to buy #BTC as an inflation hedge in August 2020, the IT company went all-in.

Under the leadership of Michael Saylor, a Bitcoin maximalist, #Microstrategy has bought 132,500 BTC with a staggering $4.03 billion book value. The acquisitions cost, on average, $30,397. The Bitcoins were bought through a number of loan agreements and bond issues.

The recent 44% gain in Bitcoin's price over the last week has reportedly taken Microstrategy's BTC bet closer to its breakeven price of $30,137, according to a recent tweet by DB Newswire. Michael Saylor's Bitcoin holdings are currently worth more than $3.7 billion. The current P&L of the Bitcoin acquisition is $285 million at -7.15%.

The price of Microstrategy's stock has increased as a result of the #bitcoin price surge. From the start of BTC's climb on March 10, the stock has increased by more than 13%. The stock, which is presently trading at $267, frequently tracks the ups and downs of the leading cryptocurrency.