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MicroStrategy Acquires More Bitcoin Amid Revenue Decline and Net Loss
Business intelligence company MicroStrategy continues to increase its bitcoin stash, with a recent purchase of 122 BTC for nearly $8 million. In 2024 alone, the NASDAQ-listed giant has bought over 25,000 BTC.
The company, which continues to remain the world’s largest corporate holder of Bitcoin, also reported a net loss and a decline in revenue in the first quarter of 2024.
In April, @MicroStrategy acquired an additional 122 BTC for $7.8 million and now holds 214,400 BTC. Please join us at 5pm ET as we discuss our Q1 2024 financial results and answer questions about the outlook for #BusinessIntelligence and #Bitcoin. $MSTR https://t.co/h40yyrgEb0
— Michael Saylor (@saylor) April 29, 2024
MicroStrategy, in its Q1 2024 financial results, revealed that its Bitcoin holdings have grown to 214,400 following the acquisition of 122 BTC in April for $7.8 million, with the firm taking advantage of the dip.
While the purchase is small compared to its previous BTC acquisitions, MicroStrategy maintains its dedication to continue adding to its Bitcoin pot, even despite the crypto’s recent price decline.
Bitcoin hit a new price record of over $73,000 in 2024 in March but has since declined more than 13%, currently trading at $63,400, according to Coingecko.
MicroStrategy also revealed it had bought a total of 25,250 BTC – with most of the proceeds from two successful convertible debt offerings – since the end of Q4 2023 for $1.65 billion, or at an average cost of $65,232 per coin.
The firm’s current Bitcoin pot of 214,400, meanwhile, is valued at approximately $13.6 billion and was purchased for $7.5 billion as of April 26, 2024, at an average price of $35,164, as stated in the report.
While MicroStrategy continues to increase its BTC holdings, the business intelligence company’s Q1 2024 results recorded a 5.5% decrease in revenue at $115.2 million compared to the same period in 2023.
Also, the report noted a net loss of $53.1 million in Q1 2024, or $3.01 per share, as against a net income of $461.2 million in the same quarter in 2023. The net loss came after a digital asset impairment loss of $191.6 million in the first quarter of 2024.
The post MicroStrategy Acquires More Bitcoin Amid Revenue Decline and Net Loss appeared first on CryptoPotato.
The company, which continues to remain the world’s largest corporate holder of Bitcoin, also reported a net loss and a decline in revenue in the first quarter of 2024.
In April, @MicroStrategy acquired an additional 122 BTC for $7.8 million and now holds 214,400 BTC. Please join us at 5pm ET as we discuss our Q1 2024 financial results and answer questions about the outlook for #BusinessIntelligence and #Bitcoin. $MSTR https://t.co/h40yyrgEb0
— Michael Saylor (@saylor) April 29, 2024
MicroStrategy, in its Q1 2024 financial results, revealed that its Bitcoin holdings have grown to 214,400 following the acquisition of 122 BTC in April for $7.8 million, with the firm taking advantage of the dip.
While the purchase is small compared to its previous BTC acquisitions, MicroStrategy maintains its dedication to continue adding to its Bitcoin pot, even despite the crypto’s recent price decline.
Bitcoin hit a new price record of over $73,000 in 2024 in March but has since declined more than 13%, currently trading at $63,400, according to Coingecko.
MicroStrategy also revealed it had bought a total of 25,250 BTC – with most of the proceeds from two successful convertible debt offerings – since the end of Q4 2023 for $1.65 billion, or at an average cost of $65,232 per coin.
The firm’s current Bitcoin pot of 214,400, meanwhile, is valued at approximately $13.6 billion and was purchased for $7.5 billion as of April 26, 2024, at an average price of $35,164, as stated in the report.
While MicroStrategy continues to increase its BTC holdings, the business intelligence company’s Q1 2024 results recorded a 5.5% decrease in revenue at $115.2 million compared to the same period in 2023.
Also, the report noted a net loss of $53.1 million in Q1 2024, or $3.01 per share, as against a net income of $461.2 million in the same quarter in 2023. The net loss came after a digital asset impairment loss of $191.6 million in the first quarter of 2024.
The post MicroStrategy Acquires More Bitcoin Amid Revenue Decline and Net Loss appeared first on CryptoPotato.
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LIVEBitcoin Farmer 2018
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1. 🚀Hong Kong spot Bitcoin and Ethereum ETF trading officially live.
2. 🚀Hong Kong OSL said Ethereum is not a security.
@Bitcoin Farmer 2018 #ETF
2. 🚀Hong Kong OSL said Ethereum is not a security.
@Bitcoin Farmer 2018 #ETF
See original
🚀🚀🚀🚀🚀🚀 retik
LIVECoinpedia
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Retik Finance (RETIK) to Hit $1 in 2024: Analysts Cite Early Utility Launch As Key Catalyst to Pr...
The post Retik Finance (RETIK) to Hit $1 in 2024: Analysts Cite Early Utility Launch as Key Catalyst To Projected 1000% Price Surge appeared first on Coinpedia Fintech News
Retik Finance (RETIK) has emerged as a promising player in the cryptocurrency market, capturing the attention of analysts and investors alike with its innovative approach to decentralized finance (DeFi). Analysts have recently projected a significant price surge for RETIK, with predictions suggesting a remarkable increase to $1 by the year 2024. This surge is attributed to various factors, notably the early launch of utility features such as virtual DeFi debit cards, which have set Retik Finance apart in the competitive crypto landscape. In this article, we will delve into the reasons behind RETIK’s projected price surge and explore the implications of its early utility launch.
Overview of Retik Finance and its Virtual DeFi Debit Card Launch
Retik Finance, a decentralized finance platform built on blockchain technology, aims to revolutionize global transactions through its innovative suite of DeFi products. The platform offers a range of features, including virtual DeFi debit cards, smart crypto payment gateways, AI-powered peer-to-peer (P2P) lending, and a multi-chain non-custodial highly secured DeFi wallet. With a focus on security, transparency, and user accessibility, Retik Finance has garnered attention for its potential to reshape the traditional financial landscape. One of the key catalysts driving RETIK’s projected price surge is its early utility launch. Unlike many other cryptocurrencies that focus solely on speculative trading, Retik Finance has taken proactive steps to introduce utility features ahead of schedule. The launch of virtual DeFi debit cards, in particular, has been hailed as a game-changer for the platform. These cards offer users privacy, convenience, and global accessibility, allowing for seamless transactions both online and offline. By providing tangible utility to its users, Retik Finance has positioned itself as a frontrunner in the DeFi space and garnered significant attention from investors seeking real-world applications of blockchain technology.
Retik Finance (RETIK) to Hit $1 in 2024
Analysts have closely monitored RETIK’s performance and market dynamics, leading to optimistic projections for its future price trajectory. With the early utility launch serving as a catalyst, analysts believe that RETIK has the potential to experience a 1000% price surge, reaching $1 by 2024. This projection is supported by factors such as growing investor interest, increasing adoption of DeFi solutions, and the platform’s commitment to innovation and security. As DeFi continues to gain traction in the broader financial landscape, RETIK stands poised to capitalize on this trend and emerge as a top performer in the cryptocurrency market. For investors considering RETIK as a potential investment opportunity, the projected price surge presents an attractive proposition. By acquiring RETIK tokens at current market prices, investors could stand to realize substantial returns if the projected surge materializes. However, it is essential for investors to conduct thorough research and due diligence before making investment decisions. Furthermore, Retik Finance (RETIK) has positioned itself as a standout player in the cryptocurrency market, driven by its innovative approach to decentralized finance and early utility launch.
Analysts’ projections suggest that RETIK could experience a significant price surge, reaching $1 by 2024. This surge is attributed to factors such as the platform’s proactive adoption of utility features, growing investor interest, and broader trends in the DeFi space. While investing in RETIK carries inherent risks associated with the cryptocurrency market, the potential for substantial returns makes it an enticing opportunity for investors seeking exposure to innovative blockchain projects with real-world utility. By providing a comprehensive overview of RETIK’s potential and the factors driving its projected price surge, investors can make informed decisions about their investment strategies in the cryptocurrency market.
About Retik Finance
Retik Finance (RETIK) is a cutting-edge decentralized finance (DeFi) project revolutionizing global transactions with its innovative suite of financial solutions. Introducing futuristic DeFi Debit Cards, a Smart Crypto Payment Gateway, AI-powered Peer-to-Peer (P2P) lending, and a Multi-Chain Non-Custodial Highly Secured DeFi Wallet.
Visit the links below for more information about Retik Finance (RETIK):
Website: https://retik.com
Whitepaper: https://retik.com/retik-whitepaper.pdf
Twitter: www.twitter.com/retikfinance
Telegram: www.t.me/retikfinance
Retik Finance (RETIK) has emerged as a promising player in the cryptocurrency market, capturing the attention of analysts and investors alike with its innovative approach to decentralized finance (DeFi). Analysts have recently projected a significant price surge for RETIK, with predictions suggesting a remarkable increase to $1 by the year 2024. This surge is attributed to various factors, notably the early launch of utility features such as virtual DeFi debit cards, which have set Retik Finance apart in the competitive crypto landscape. In this article, we will delve into the reasons behind RETIK’s projected price surge and explore the implications of its early utility launch.
Overview of Retik Finance and its Virtual DeFi Debit Card Launch
Retik Finance, a decentralized finance platform built on blockchain technology, aims to revolutionize global transactions through its innovative suite of DeFi products. The platform offers a range of features, including virtual DeFi debit cards, smart crypto payment gateways, AI-powered peer-to-peer (P2P) lending, and a multi-chain non-custodial highly secured DeFi wallet. With a focus on security, transparency, and user accessibility, Retik Finance has garnered attention for its potential to reshape the traditional financial landscape. One of the key catalysts driving RETIK’s projected price surge is its early utility launch. Unlike many other cryptocurrencies that focus solely on speculative trading, Retik Finance has taken proactive steps to introduce utility features ahead of schedule. The launch of virtual DeFi debit cards, in particular, has been hailed as a game-changer for the platform. These cards offer users privacy, convenience, and global accessibility, allowing for seamless transactions both online and offline. By providing tangible utility to its users, Retik Finance has positioned itself as a frontrunner in the DeFi space and garnered significant attention from investors seeking real-world applications of blockchain technology.
Retik Finance (RETIK) to Hit $1 in 2024
Analysts have closely monitored RETIK’s performance and market dynamics, leading to optimistic projections for its future price trajectory. With the early utility launch serving as a catalyst, analysts believe that RETIK has the potential to experience a 1000% price surge, reaching $1 by 2024. This projection is supported by factors such as growing investor interest, increasing adoption of DeFi solutions, and the platform’s commitment to innovation and security. As DeFi continues to gain traction in the broader financial landscape, RETIK stands poised to capitalize on this trend and emerge as a top performer in the cryptocurrency market. For investors considering RETIK as a potential investment opportunity, the projected price surge presents an attractive proposition. By acquiring RETIK tokens at current market prices, investors could stand to realize substantial returns if the projected surge materializes. However, it is essential for investors to conduct thorough research and due diligence before making investment decisions. Furthermore, Retik Finance (RETIK) has positioned itself as a standout player in the cryptocurrency market, driven by its innovative approach to decentralized finance and early utility launch.
Analysts’ projections suggest that RETIK could experience a significant price surge, reaching $1 by 2024. This surge is attributed to factors such as the platform’s proactive adoption of utility features, growing investor interest, and broader trends in the DeFi space. While investing in RETIK carries inherent risks associated with the cryptocurrency market, the potential for substantial returns makes it an enticing opportunity for investors seeking exposure to innovative blockchain projects with real-world utility. By providing a comprehensive overview of RETIK’s potential and the factors driving its projected price surge, investors can make informed decisions about their investment strategies in the cryptocurrency market.
About Retik Finance
Retik Finance (RETIK) is a cutting-edge decentralized finance (DeFi) project revolutionizing global transactions with its innovative suite of financial solutions. Introducing futuristic DeFi Debit Cards, a Smart Crypto Payment Gateway, AI-powered Peer-to-Peer (P2P) lending, and a Multi-Chain Non-Custodial Highly Secured DeFi Wallet.
Visit the links below for more information about Retik Finance (RETIK):
Website: https://retik.com
Whitepaper: https://retik.com/retik-whitepaper.pdf
Twitter: www.twitter.com/retikfinance
Telegram: www.t.me/retikfinance
LIVECoinDesk
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Avalanche's AVAX Underperforms Ahead of $365M Token Unlock
Avalanche's native token AVAX underperformed the crypto market over the past week ahead of its token unlocking event, CoinDesk data shows.
Some $365 million worth of locked-up tokens will be released Thursday from vesting and will be added to circulation, according to Token.Unlocks data.
The native cryptocurrency of the Avalanche {{AVAX}} network underperformed most digital assets as the token undergoes a $365 million unlocking event this week that will increase the token's supply.
AVAX dipped more than 3% over the past week, while most cryptocurrencies – 148 of the 173 constituents of the broad-market CoinDesk Market Index (CMI) – gained in price. The CoinDesk20 Index (CD20), which tracks the performance of the largest and most liquid crypto assets, advanced 6% during the same period. At press time, AVAX changed hands at $38, some 23% lower than its December high.
The underperformance happened as some 9.5 million of previously locked-up AVAX tokens, worth $365 million, will be released on Thursday, increasing the asset's circulating supply by roughly 2.6%, according to data from Token.Unlocks.
Some 4.5 million tokens will be transferred to team members, 2.25 million to strategic partners, 1.67 million to the ecosystem development foundation, while 1.13 million are earmarked for airdrop.
Approximately 58% of all of AVAX's tokens have been unlocked, on-chain data shows.
Token unlocks translate to an increase in the asset's supply, releasing previously locked-up coins from a vesting period, including to early investors.
Large unlocking events usually lead to price declines within two weeks due to the supply increase outpacing investor demand for the asset, a report by crypto analytics firm The Tie found last year.
Some $365 million worth of locked-up tokens will be released Thursday from vesting and will be added to circulation, according to Token.Unlocks data.
The native cryptocurrency of the Avalanche {{AVAX}} network underperformed most digital assets as the token undergoes a $365 million unlocking event this week that will increase the token's supply.
AVAX dipped more than 3% over the past week, while most cryptocurrencies – 148 of the 173 constituents of the broad-market CoinDesk Market Index (CMI) – gained in price. The CoinDesk20 Index (CD20), which tracks the performance of the largest and most liquid crypto assets, advanced 6% during the same period. At press time, AVAX changed hands at $38, some 23% lower than its December high.
The underperformance happened as some 9.5 million of previously locked-up AVAX tokens, worth $365 million, will be released on Thursday, increasing the asset's circulating supply by roughly 2.6%, according to data from Token.Unlocks.
Some 4.5 million tokens will be transferred to team members, 2.25 million to strategic partners, 1.67 million to the ecosystem development foundation, while 1.13 million are earmarked for airdrop.
Approximately 58% of all of AVAX's tokens have been unlocked, on-chain data shows.
Token unlocks translate to an increase in the asset's supply, releasing previously locked-up coins from a vesting period, including to early investors.
Large unlocking events usually lead to price declines within two weeks due to the supply increase outpacing investor demand for the asset, a report by crypto analytics firm The Tie found last year.
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