Hassan Maishera
TL:DR
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Bitcoin hits $102k after adding more than 2% to its value.
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MicroStrategy purchases over 1,000 bitcoins and seeks to raise $2b via a preferred stock offering.
Bitcoin Trades Above $102k as Market Rallies Higher
The cryptocurrency market has been bullish since the start of the year as traders anticipate higher prices once Trump takes office. Bitcoin, the leading cryptocurrency by market cap, is up 2.5% in the last 24 hours.
The rally allowed BTC to hit the $102k mark on Monday before slightly retracing to now trade at $101,739 per coin. It also comes as MicroStrategy added bitcoins to its holdings for the 9th consecutive week.
MicroStrategy has acquired 1,070 BTC for ~$101 million at ~$94,004 per bitcoin and has achieved BTC Yield of 48.0% in Q4 2024 and 74.3% in FY 2024. As of 01/05/2025, we hodl 447,470 $BTC acquired for ~$27.97 billion at ~$62,503 per bitcoin. $MSTR https://t.co/CkLrLSkB5M
— Michael Saylor⚡️ (@saylor) January 6, 2025
MicroStrategy holds more bitcoin than any other publicly traded company. Michael Saylor announced that in the week ending Jan. 5, MicroStrategy purchased a further 1,020 BTC for $101 million, bringing its total Bitcoin holdings to 447,470 BTC.
Furthermore, the company announced that it intends to raise up to $2 billion via a preferred stock offering. This offering differs from MicroStrategy’s 21/21 plan of $21 billion in equity and $21 billion in fixed income.
Last week, MicroStrategy bought 2,138 BTC for $209 million at $97,837 per bitcoin. The company now holds 447,470 bitcoins, making it the publicly traded company with the largest bitcoin holdings.
