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.

The post "The Future of Money: Insights from Coinbase Latest Report" first appeared on 36crypto.com News.
"Crypto is the future of money," Coinbase emphasizes in its latest report, “The State of Crypto”. It notes that during the first quarter of 2024, Fortune 100 companies announced a record number of blockchain and Web3 initiatives. However, the biggest obstacle for them was the lack of reliable specialists and the necessary skills. In addition to this, the declining share of American crypto developers further aggravates the situation. Currently, only one out of four developers is from the United States, which is 14% less than in the last five years. But despite this, interest in blockchain technology remains high.
Crypto Helps to Update the Financial System
#Coinbase draws attention to a significant reduction in the number of crypto developers in the United States. Executives of Fortune 500 companies are concerned about the lack of reliable specialists, seeing this as a bigger obstacle to the introduction of cryptocurrencies than regulatory issues.
At the same time, small businesses are interested in finding cryptocurrency-savvy candidates for future positions in technical, financial, and legal departments. About 68% of respondents believe that blockchain and cryptocurrencies can solve financial problems such as processing time and transaction fees.
“The market infrastructure on which we have been issuing, trading, and wrapping assets into portfolios is 50 years old... What we are starting to see with blockchain technologies is that there are ways to improve that tremendously. There are ways to cut processing times, get more real-time information, and enable 24/7/365 trading because we live in a global world where our businesses operate around the clock.” said Sandy Kaull, Franklin Templeton’s head of digital assets.
Volodymyr Nosov, CEO of WhiteBIT, shares similar views, noting: "Despite the volatility, Bitcoin is gold for the new generation. Young investors won't invest in gold, they believe in the digital age [...] Blockchain is the future that needs to be understood."
Coinbase notes that recent years have been a period of experimentation with on-chain, but technology and financial companies have found the best formula between product and market. In the first quarter, these two sectors accounted for 8 out of 10 on-chain initiatives, which shows an upward trend compared to 2023, when they accounted for almost 6 out of 10. 
In addition, interest in using on-chain technology for customer transactions extends not only to financial companies, but also to the retail, healthcare, and consumer goods industries. These include:
Exploring crypto as a form of payment for remote or global regionImplementing play-to-earn mechanics to enhance the video game experienceLetting healthcare patients and customers use digital wallets to pay for products and serviceAccepting healthcare donations in cryptoBlockchain- and NFT-based restaurant loyalty programs
Rising Interest in Using Stablecoins
After that, Coinbase analyzes how #Stablecoins are gradually beginning to play an increasingly important role in the global economy. In the first quarter of 2024, the daily volume of stablecoin transactions broke records and reached $150 billion. 
Stablecoins mitigate the volatility of popular cryptocurrencies such as Bitcoin, making them more suitable for daily transactions. They are widely used for cross-border payments and trading in other cryptocurrencies.
More than 50% of the surveyed companies noted that the introduction of stablecoins could open up new business opportunities. The relative stability of the stablecoins makes them attractive for companies seeking to avoid the fluctuations typical of other cryptocurrencies. Another reason for the attractiveness of stablecoins is low transaction fees and faster processing times.
Pegah Soltani, Head of Payment Products at Ripple, similarly spoke about cross-border payments worldwide. She explained that payment standards vary greatly from country to country. For example, using SWIFT or TIPS in Europe and FedNow in the US requires different protocols, limiting data quality and detail.
As a result, these systems operate as closed networks that interact inefficiently with each other, requiring significant manual intervention and ultimately leading to an unsatisfactory payment experience.
According to Coinbase, the efficiency and cost-effectiveness of cryptocurrency transactions are compelling arguments in favor of their implementation. In addition, 76% of small businesses express interest in cryptocurrency's potential benefits, indicating a broad willingness to explore these technologies.
Compass Coffee, mentioned by Coinbase in its report, is already actively implementing payments in stablecoins. With many customers switching from cash to cards, the company said it was tired of paying high transaction fees, funds that could be reinvested in the business. That is why it started offering stablecoins as an alternative payment method.
“Accepting crypto payments could be transformational for our business. 
 We hope to help transform retail experiences by accepting USDC” said Michael Haft, Compass Coffee Founder and CEO
Summary
Coinbase's State of Crypto report emphasizes the importance of cryptocurrencies as the future of money. The first quarter of 2024 showed a significant increase in blockchain and Web3 initiatives among Fortune 100 companies, despite the lack of qualified specialists and the decline in the share of American crypto developers. However, despite these challenges, interest in blockchain technology remains high.

#Microstrategy #CertiKvsKraken #BinanceTournament

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.

Based on the present valuation-to-cost ratio of #bitcoin , it is observed that just two out of the five leading publicly listed Bitcoin holding firms are experiencing a favourable financial standing.
In September, #Microstrategy shown a persistent inclination towards acquiring Bitcoin (BTC), even in the face of declining stock prices.
On October 11, there was a significant decline in the value of BTC treasury in comparison to October 9.
During the month of October, there was a marginal decrease observed in the Bitcoin holdings of publicly traded firms, sometimes referred to as Bitcoin 'treasuries'. Out of the five major Bitcoin holders that are publicly listed, only Marathon and Coinbase are now in a favourable financial situation, as indicated by their value-to-cost ratio (NgU) in the table provided. MicroStrategy is consistently increasing its acquisition of Bitcoin (BTC), resulting in the company's Bitcoin holdings being estimated at over $4.5 billion.

MicroStrategy is at the forefront of the accumulation of Bitcoin.
There was an increase in the Bitcoin treasury holdings of publicly traded firms in the United States, with the amount rising from 1.60 million BTC on August 30 to 1.70 million BTC on August 31. According to the statistics provided by Bitcoin Treasuries, the quantity of BTC assets held by publicly listed businesses had an initial surge to 1.71 million units till October 9, followed by a subsequent sharp decline to 1.68 million units.
MicroStrategy, Inc. emerges as the leading entity in terms of BTC holdings, with a substantial market value of $4.6 billion. Approximately 97.5% of the total value is derived from Bitcoin. The organisation possesses a Bitcoin balance of 158,245 BTC, which is presently estimated to be worth over $4.5 billion.

In 2023, MicroStrategy has persisted in accumulating Bitcoin, with the present Bitcoin value-to-cost ratio standing at 0.97. This ratio suggests that the value of the company's Bitcoin holdings is somewhat lower than the price at which these assets were acquired. By September 24, the business had accumulated a total of 5,445 BTC. This acquisition followed the procurement of 467 BTC in July and 12,333 BTC in June.
According to statistics from Yahoo Finance, MicroStrategy had robust performance in the month of July, as its stock price exceeded the threshold of $460. Subsequently, the price has decreased to $330 as at the present moment. In August of the previous year, Michael Saylor resigned from his position as the chief executive officer of the firm due to the company's increasing financial deficits.
Marathon Digital Holdings, a company with a market capitalization of $1.6 billion, possesses a total of 11,466 bitcoins, which are now worth at around $327 million. The current ratio of Bitcoin holdings to cost for the corporation is at 1.73, indicating a lucrative position. According to the data provided by Bitcoin Treasuries, Marathon engaged in the sale of 766 BTC during the month of March in the current year, without undertaking any additional acquisitions.
Tesla, Inc., with a market cap of $770 billion, maintains a Bitcoin balance of 9,720 BTC, currently valued at $277 million. Despite having a relatively low current value-to-cost ratio of 0.82, Tesla is a prominent entity among the largest listed holdings. Despite Tesla's Q3 2023 financial report indicating a lowering of its operating profit margin to 7.6%, this development has occurred.
Coinbase Global, Inc., a company with a market capitalization of $17.5 billion, possesses a significant amount of Bitcoin, namely 9,480 BTC, which is now worth at over $270 million. Coinbase demonstrates a significantly high value-to-cost ratio of 2.31, positioning it favourably among the leading firms in the market. The Nasdaq-listed exchange has a history of annual accumulation sprees in December 2020, 2021 and 2022 and hasn’t sold its holdings based on data by Bitcoin Treasuries.
Hut 8 Mining Corp, a company headquartered in Canada, possesses a market capitalization of $397 million. Within its holdings, Hut 8 Mining Corp now possesses 8,388 BTC, which is estimated to have a value of around $239 million.
Publicly listed technology businesses have a notable degree of confidence in the viability and potential of Bitcoin.
The treasury worth of these firms had a decline from 1.71 million BTC to 1.68 million BTC during the dates of October 9 and 11. The stability persisted until October 18th. The presence of institutional buying is evident in the month-to-date flows reported by CoinShares. According to the data, the monthly total value of Bitcoin transactions is $56.6 million.
Upon further examination of stocks associated with Bitcoin, it becomes evident that a significant proportion of firms in the technology sector, namely 74%, own exposure to Bitcoin.

Despite the considerable price volatility of Bitcoin subsequent to the collapse of FTX, several publicly listed firms, particularly those operating within the technology sector, persist in expressing their trust and belief in the potential of Bitcoin. According to the data provided by CoinGecko, the public-company-Bitcoin-dominance ratio is at 1.23%. These public companies collectively possess over 239,494 BTC, which is estimated to be worth at roughly $6.8 billion.