MicroStrategy's BTC Investment Prospects
MicroStrategy submitted an SEC preliminary notice for a shareholder vote.
After falling to $92,000 yesterday, BTC price rose before Christmas.
Bitcoin stays hopeful before Christmas despite recent market declines.
MicroStrategy's Christmas gift to the crypto industry are its plans to issue 10 billion more shares, meaning around $3.3 trillion for upcoming BTC investments
In addition to the January 20 Trump administration, MicroStrategy's recent decision has good implications for BTC.
Today, December 24, MicroStrategy filed an SEC preliminary notice for a shareholder vote.
Increasing common stock authorization from 330 million to 10.33 billion
Increased permitted preferred shares from 5 million to 1.005 billion
If MicroStrategy issues 10 billion additional shares, Bitcoin might see a lot of money.
MSTR shares trade over $332, making 10 billion shares worth over $3.3 trillion. Over 35 million BTC at current rates.
Michael Saylor said via X that MicroStrategy purchased 5,262 additional BTC for $561 million on December 23, bringing its total to 444,262.
MicroStrategy has been purchasing BTC since 2020 and plans to acquire more, according to its newest filing, which might enhance BTC prices.
Recently, MicroStrategy became the first BTC-focused business to join the Nasdaq 100 Index, another important crypto industry milestone in 2024.
After falling to $92,000 on December 23, BTC rose today.
BTC Recovers after December 23 Drop
BTC is trading over $94,000 after falling to $92,500 on December 23.
Liquidations, BTC ETF withdrawals, and Biden administration global concerns caused BTC's recent price dips.
SoSoValue data shows that US BTC ETFs saw three days of outflows totaling over $1 billion on December 19, after a 13-day string of inflows since November 27.
Bitcoin ETFs in 2024 were a major step toward institutional acceptance, as the crypto products outpaced gold and reached $20 billion in total flows far quicker.
#MicroStrategyInNasdaq100 #BTCNextMove #MarketRebound $BTC $ETH $XRP
