Bitcoin News

BlackRock and MicroStrategy in Neck and Neck Race As Firms’ Bitcoin Holdings Soar to Over $29,170,000,000 in BTC

Most Dogecoin Holders Are in Profit While Majority of Shiba Inu Owners Remain Underwater: IntoTheBlock

MicroStrategy continues to gobble up Bitcoin (BTC) as the top crypto asset soars to new all-time highs.

The business intelligence firm recently used proceeds from convertible notes and excess cash to buy an additional 12,000 BTC for $821.7 million (at an average price of approximately $68,477 per Bitcoin), according to Michael Saylor, the company’s co-founder and executive chairman.

MicroStrategy now owns 205,000 Bitcoin, which it acquired at an average price of $33,706 per BTC. That trove is now worth more than $14.8 billion, a more than 114% increase from the $6.91 billion the company spent on the BTC.

Saylor’s firm is not the only entity stacking Bitcoin: BlackRock’s newly approved spot Bitcoin exchange-traded fund, the iShares Bitcoin Trust (IBIT), has accumulated a total of 197,943.2 BTC worth more than $14.37 billion, according to BitMEX Research.

A recently amended prospectus filed with the U.S. Securities and Exchange Commission (SEC) indicates BlackRock wants to include spot market BTC ETF exposure in a proposed in-house investment fund.

Bitcoin is trading at $72,123 at time of writing. The top-ranked crypto asset by market cap is up nearly 5% in the past 24 hours and more than 63% since the start of 2024. BTC also set a new all-time high of $72,710.68 at one point on Monday afternoon, according to CoinGecko.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Click Here to Read the Full Original Article at Bitcoin News – The Daily Hodl…