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Category: Microstrategy

Coinbase Is Set To Increase Corporate Bonds Amid Rising Demand

In a recent development, Coinbase issued a junk bond, and the market seemed to be hungry for the instrument. Currently, the US crypto exchange is recording more demands for these bonds every day. With these demands, the crypto exchange’s sales have grown from $1.5B to $2B. Bonds are fixed investments that yield interest monthly. But when we talk of junk bonds, investors make higher returns but face higher risks as well. Companies usually issue junk bonds to raise capital very fast for a major project. Corporate Bond Orders Keep Rising The orders have continued to troop in for the Coinbase junk bond. One of our sources reveals that the orders amounting to $7 billion are competing for 7 and ten-year bonds, with interests of 3.375% & 3.625% each. From our sources, we also learned that some claims have risen that the interest rates were lower than what Coinbase offered in the first quotes. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course This increasing demand proves that the exchange didn’t know the extent to which the public regarded its creditworthiness. If they offered higher rates in the quotes, it meant that Coinbase was unsure that many people would invest in the bonds.  So, the high demand showed them their worth, and the company reduced the rates. Moreover, an analyst with Bloomberg stated that this high demand shows that debt investors have endorsed the exchange positively. But these bonds rank a bit lower than investment-grade bonds, according to Bloomberg bond indexes showing that debts offerings like what Coinbase issued get an average of 2.86% yield. Coinbase And The Junk Bond Journey The US-based crypto exchange announced this junk-bond issue on September 13. According to that announcement, the company aims to use the capital for its products developments. Also, they aim to acquire other technologies, companies, and products that they might find in the time to come. Coinbase is the second crypto company to offer this debt instrument. Before now, MicroStrategy issued Notes worth $500M to invest in Bitcoin following the June market crash. So, the crypto community has seen the likes of junk-bond offerings before now. This might be the reason for the surging demand plus the popularity of Coinbase in the industry. On its opening day, the bond traded at $342 while the company’s COIN Stock sold for $243. But the COIN has managed to gain 20% since the end of June. What surprised the community more is that the exchange is facing a lot of threats from the SEC, yet the investors pushed money into the bond. Related Reading | Since China’s Mining Ban, Bitcoin Hashrate Has Recovered by 68% And Counting The Securities and Exchange Commission threatens the crypto exchange with possible legal action if it launches a USDC lending product. Before this threat, Coinbase planned to launch the USD Coin. But it seems that the company is keeping the plans at bay for the time being. Currently the USD Coin is trading sideways | Source: USDCUSDT on TradingView.com Featured image from Business Insider, chart from TradingView.com
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MicroStrategy Deepens Its Crypto Bet With Another $240 Million Spent On Bitcoin

MicroStrategy has stuck to its bitcoin strategy through thick and thin. At this point, every dip seems to be a buying opportunity for the firm, which has completely thrown its weight behind bitcoin. Its CEO Michael Saylor is a maximalist that believes the future is bitcoin. MicroStrategy has been upping its bitcoin investment through the year, garnering a stash of over 100K bitcoins. Even now, the firm continues to straighten its position in the digital asset. CEO Michael Saylor announced that the firm had bought another 5,050 bitcoins, bringing the total assets held by the company to approximately 114,042 bitcoins. The 5,050 bitcoins were bought for around $242 million, with an average price of $48,099 per BTC. This brings the total amount of the digital asset held by the firm to $3.6 billion. All are gotten at an average price of $27,713 per coin. MicroStrategy has purchased an additional 5,050 bitcoins for ~$242.9 million in cash at an average price of ~$48,099 per #bitcoin. As of 9/12/21 we #hodl ~114,042 bitcoins acquired for ~$3.16 billion at an average price of ~$27,713 per bitcoin. $MSTRhttps://t.co/2ESbTy6ad7 — Michael Saylor⚡️ (@michael_saylor) September 13, 2021 Related Reading | Cathie Wood Reiterates $500K Bitcoin Call, Reveals Ethereum Rebalancing MicroStrategy has refused to sell off its crypto holdings at any point. Crashes seem to not phase the firm as they invest even more into the asset with every price dip. This latest acquisition goes to show their commitment to the long-term growth of bitcoin. Saylor also has both personal and institutional interest in the asset and is one of the most vocal corporate supporters of the digital currency. MicroStrategy Making All The Right Moves MicroStrategy has now seemingly abandoned traditional assets in favor of investing in bitcoin. A report from Bitcoinist shows where the firm would be profit-wise had it opted to invest in one of the most well-known traditional investments, gold, instead of investing in bitcoin. Since bitcoin has consistently outperformed gold by at least 200% year over year for the past couple of years, MicroStrategy’s investment would have way less in the way of return. Or as the report shows, the firm would be recording losses at this point. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course Comparisons between the digital asset and gold from March to June 2020, the time period when the firm first invested in bitcoin, shows what the current value of the investment would be. MicroStrategy had put about $2 billion into its bitcoin investment, which presently has appreciated over 376% in the span of a year. On the other hand, had the firm put this $2 billion into a traditional asset like gold, it would have lost 80% of its total value. This is because gold has given negative returns on investment in the past year. Thus any investment in the asset would result in a loss. The success of MicroStrategy’s bitcoin investment has also bolstered the company’s standing profit-wise. Not only is its investment outperforming gold, but the company itself has also outperformed gold in the market. BTC price above $46,000 | Source: BTCUSD on TradingView.com MicroStrategy’s shares have appreciated 428% in the year following the launch of its bitcoin fund. Outperforming both the NASDAQ and the S&P500 combined. MicroStrategy is currently the leading corporate investor in bitcoin. Featured image from CoinQuora, chart from TradingView.com
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Breaking: MicroStrategy Buys Additional 5K Bitcoin ($BTC) Worth $243 Million

Microstrategy has continued its Bitcoin buying streak in September as the company bought an additional 5,050 BTC worth $242.9 million at $48,099 per $BTC. The latest purchase takes MicroStrategy’s total Bitcoin investment to over $3 billion. This would also mark the Fortune 500 companies’ biggest one-time cash purchase. The company now holds a total of

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Bitcoin Attains its 700,000th Block: Milestones, Criticisms and Future Prospects

The Bitcoin Blockchain has produced its 700,000th block, after more than 12 years in existence.  Happy 700000th block, #bitcoin! https://t.co/24mpVKXK8e — Pieter Wuille (@pwuille) September 11, 2021 According to data from Blockchain.com, the historic block height was recorded by an unknown miner, atop about 1,276 transactions within the block. The milestone is a function of

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Why MicroStrategy Executives Are Selling Their Stocks? Here’s the Bitcoin (BTC) Connection

MicroStrategy, the Fortune 500 company that started the trend of public companies holding Bitcoin (BTC) on their balance sheet recently filed their monthly report with the SEC. The latest filing has got the crypto community abuzz as it revealed some of the top executives in the company have unloaded their stocks. The monthly filing revealed

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Bitcoin (BTC) Market Crash: Wild Theory Suggests Michael Saylor and MicroStrategy Behind it

Bitcoin’s (BTC) price crashed by over 20% within an hour to register the biggest market sell-off since May. The price of the top cryptocurrency fell to a new monthly low of $43,685 even though BTC was targeting $53K earlier in the day. BTC has recovered nearly $3K from yesterday’s fall and currently trading at $46,657.

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Tomorrow, The Community Will Buy $30 In BTC To Support El Salvador’s Bitcoin Law

The day is here. In a few hours, El Salvador’s Bitcoin Law goes into effect. We will have the first real-world example of a whole nation using the hardest money ever created as legal tender. And, how is the Bitcoin community celebrating? Stack sats, obviously. The order is for everyone to buy $30 worth of BTC to commemorate this glorious occasion. Will you participate? Related Reading | The 411 On “Adopting Bitcoin,” A Lightning Network Conference in El Salvador The intention is not to move the dial or pump the price. The amount is small enough to guarantee that, even if the event goes viral. Which it seems like it’s doing. The movement started humbly, with a Reddit post in the /r/Bitcoin community that asked a simple question. So… We all buying $30 worth of Bitcoin on Tuesday? At the time of writing, the idea has 8.9K upvotes and 2.2K commentaries.  Among the comments, some went all-in. “I will buy $3000 tuesday to cover 99 others who arent able to pay.” Others explained away, “Its to show solidarity with our Bitcoin compatriots in El Salvador as they fully adopt Bitcoin as their currency.” And other rightfully criticized, “Sure. Lets just coordinate a 100 mil pump of BTC. Correct me if I’m wrong but this sounds greasy.” And, sure enough, the idea to back El Salvador’s Bitcoin Law spread to other social networks. Bitcoin Twitter Will Support El Salvador’s Bitcoin Law The plebs work fast. As soon as the idea transcended Reddit and got to Bitcoin Twitter, the memes appeared. This piece of art mixes the classic comedy “Trading Places” with El Salvador’s Bitcoin Law, with gold bug Peter Schiff and Bitcoin hater Nouriel Roubini to achieve hilarious effects: On the 7th of September #Bitcoin becomes legal tender in #ElSalvador. Plebs and memers unite!! Like, retweet and buy #BTC on the 7th.#[email protected]#LeyBitcoin#[email protected]@MemeFactoryTM#Memetards pic.twitter.com/u3rWWGbItr — Sir William of Orange Pills (@OrangePillWilly) September 5, 2021 Even MicroStrategy’s CEO and notorious Bitcoin enthusiast joined the party. Michael Saylor did his part to support El Salvador’s Bitcoin Law and spread the word to the sizable audience that follows him. This worries me more than anything. We are at major retracement levels for the price and Michael saylor is getting retail to buy. If the bear market starts this week I wouldn’t be surprised. — Golde 🔜 EDCLV2021? (@all41and14alll) September 6, 2021 Of course, this raised suspicion. “Everyone needs to be aware that this could possibly be leading the sheep to their death.  Very nerve wracking these narratives are coming out before we hit the HUGE retracement levels,” said one commenter. “A hole. Letting retail buy exactly on the 70.2% retracement to dump on them huh,” said another. “If the bear market starts this week I wouldn’t be surprised,” predicted a third one.  Are they on to something or are they missing something? Michael Saylor strongly stated that MicroStrategy is not looking to sell any of their BTC any time soon, but, people have lied before. Do you know what doesn’t lie, though? Bitcoin. If Michael Saylor and company sell on El Salvador’s Bitcoin Law’s day, people will know. The same thing will happen if they buy. BTC price chart for 06/09/2021 on Oanda | Source: BTC/USD on TradingView.com The International Community Will Also Buy $30 Worth Of BTC Here, we can see a Korean bitcoiner translating the order to support El Salvador’s Bitcoin Law and the community from that side of the world responding below.  [6월24일 엘살바도르는 국민 1인당 30$어치 비트코인을 지급하기로 했습니다.] 이것을 기념하기위하여 300만명의 브라질 커뮤니티에서 다같이 30$를 구매하자고 시작한 이벤트입니다. 이것은 엘살바도르의 지원을 의미합니다. #bitcoin#ElSalvador https://t.co/2I9zZkWPRA pic.twitter.com/QD1ntWevRd — ATOMIC⚡️ BITCOIN (@atomicBTC) September 6, 2021 It’s curious that the translated tweet, one of the first ones in that social network, talks about a Brazilian Bitcoin Community and that they’re doing it “remembering that Sep 7th is Brazil’s independence Day.” As far as we can tell, they link to the same /r/Bitcoin post we identified as the origin and almost all of the posts there are in English.  Related Reading | Michael Saylor Brings The Thunder To Venezuelan Bitcoin-Only Podcast It’s also curious that the Satoshi Nakamoney character keeps adding up to the story as it progresses, and ends up declaring.“To be clear: massive #bitcoin buy will happen at 3pm of El Salvador time zone.” Can you think of anything else in the world bringing people together as much as #Bitcoin is right now?Anything even at any time in your life? Have you ever felt such benevolence to strangers from different nations, religions and other affiliations as you do toward bitcoiners? — Tomerrrr Strolight – Slayer of Lies (@TomerStrolight) September 6, 2021 Will this collective action pump the price as El Salvador’s Bitcoin Law goes into effect? Maybe the plebs can’t do it by themselves, but what about doing it with Michael Saylor’s help? Another fascinating activity to monitor tomorrow. Legal Tender day is here. Featured Image: Bitcoin Day Flyer | Charts by TradingView/a>
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Are Bitcoin Whales Dumping? On-Chain Data Reveals Addresses with Over 100 Coins Are on the Decline

The number of Bitcoin (BTC) whales might be on the decline as revealed by on-chain data provided by Glassnode analytics. In an unusual reality, the number of addresses holding at least 100 units of Bitcoin, which in today’s valuation will be worth approximately $5 million, has hit a 1 year low of 15,958.  The digital

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MicroSrategy CEO Michael Saylor Says Bitcoin Is A Safe Haven

Bitcoin is the leading investment for MacroStrategy, a division of software company, MicroStrategy. Michael Saylor, who heads up this firm, has always been a BTC maximalist. Saylor has both a personal and institutional stake in the digital asset. MacroStrategy has continued to up its investment in the digital asset since it first started investing. So has its CEO, Michael Saylor. Saylor has never been shy about expressing his support for BTC. The CEO regularly talks about the asset on his Twitter page. Usually encouraging people to consider investing in the digital asset. Now, Saylor has taken to his Twitter account once again to show support for the digital asset. Related Reading | ARK Invest CEO: Bitcoin In “Capitulation Phase,” Still Set For $500k Talking about what is the best store of wealth presently, Saylor had previously put out a poll to his followers on the platform. The options in the poll ranged from well-known modes of investments, alongside BTC. The poll came out in the overwhelming majority for the pioneer cryptocurrency. The safest place to store your wealth over the long term: — Michael Saylor⚡️ (@michael_saylor) August 18, 2021 Following the completion of the poll, Saylor posted a reply to the poll. According to Saylor, bitcoin still remains the safest bet to invest in. The CEO called inflation a safe be. Then said that bitcoin was a safe haven. #Inflation is a safe bet. #Bitcoin is a safe haven. https://t.co/yvzLqwYfYI — Michael Saylor⚡️ (@michael_saylor) August 26, 2021 Related Reading | Why Breaking $49K Is Important For Bitcoin To See Another All-Time High This mostly points to BTC being proposed countless times by investors in the market. The year over year of returns on BTC has far exceeded the growing inflation rate of the U.S. dollar. Hence being a comfortable hedge against inflation. While simultaneously returning profits for the investors. BTC has far outperformed both the S&P, NASDAQ, and gold in its short time being live. U.S. Senator Cynthia Lummis had earlier in the year proposed bitcoin as a way to fight against growing inflation by backing up the U.S. dollar with BTC. MacroStrategy’s Bitcoin Investment At the time of this writing, Saylor’s firm MacroStrategy owns over 100,000 BTC. Amounting to over $5 billion in value. The cost basis for these coins is $2.9 billion. This shows that MacroStrategy has seen 1.8x returns on their initial investments in BTC, according to this report from Bitcoin Treasuries. Another not well-known fact about MicroStrategy is the fact that its board of directors is paid in bitcoin. CEO Michael Saylor believes that bitcoin will be the most disruptive technology of our lifetime. Thus, has made his firm revolve around the digital asset. BTC price recovers from dip | Source: BTCUSD on TradingView.com BTC is currently trading above $48K at $48,238. This is after a dip that had dragged the price of the asset back down to the $46K range. Currently, bitcoin looks to be in an upward trend that will see the asset test $50K before the weekend runs out. Chart from TradingView.com
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Breaking: Microstrategy Buys Additional 3,907 Bitcoin at $177 Million in Cash

Microstrategy revealed an additional purchase of 3,907 Bitcoin acquired at $177 million in cash. The Fortune 500 company acquired their latest lot of BTC at an average price of $45,294 apiece. MicroStrategy now holds a total of 108,992 Bitcoins bought at $26,769 apiece. MicroStrategy has purchased an additional 3,907 bitcoins for ~$177 million in cash

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