As a seasoned analyst with over two decades of experience in the financial markets, I’ve seen my fair share of trends come and go. The recent surge in interest around Bitcoin has certainly piqued my curiosity. With MicroStrategy’s massive Bitcoin holdings and its impressive stock performance this year, it seems that some corporations are indeed warming up to the idea of cryptocurrencies.
Presently, Kalshi users are viewing an estimated 70% likelihood that Magnificent 7 might acquire Bitcoin prior to December 31, 2025.
According to U.Today’s report, MicroStrategy, a data analytics firm, recently made another substantial Bitcoin purchase. Currently, its Bitcoin holdings amount to approximately $41 billion, representing around 2.1% of the total Bitcoin supply in circulation. This year, the company’s shares have experienced a remarkable increase of almost 500%.
This year, MicroStrategy surpassed some of the prestigious ‘Magnificent 7’ companies, such as Amazon (AMZN), in terms of trading activity.
To date, Bitcoin’s corporation hasn’t seen substantial growth, even after MicroStrategy’s triumphant tale.
Following Tesla’s significant $1.5 billion Bitcoin investment in 2021, some anticipated that numerous other prominent non-crypto companies might also invest. Yet, the majority did not take a similar path.
According to an report by U.Today, the large majority of financial chiefs, as per a survey by CNBC, do not regard Bitcoin as a means of storing value. Instead, they primarily consider it as a medium for investment speculation.
This month, a proposal for Microsoft shareholders to evaluate the possibility of investing in Bitcoin was strongly disapproved, as only about 1% of them supported it by casting their votes.
It has been suggested by some Amazon shareholders that up to 5% of the company’s resources could be allocated for investment in Bitcoin. Nevertheless, it seems quite improbable that this suggestion will be accepted in the immediate term.
Regardless of Michael Saylor, CEO of MicroStrategy, not anticipating a swift corporate embrace of Bitcoin, he has stated his belief that the dominant cryptocurrency will find its way into ongoing discussions.
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2024-12-23 23:35