• MicroStrategy, Mara, and Riot stocks saw a surge in price as BTC hit $107K.
• BTC’s demand from new investors exceeds the March demand at the $70K level by 4%.

MicroStrategy aggressively acquired 15,350 Bitcoins [BTC] at an average price of $100.3K, raising their total holdings to 439,000 BTC. These were purchased for $27.1 billion at an average of $61,725 each.

This strategic accumulation is reflected in their reported BTC yields of 46.4% for the quarter and 72.4% year-to-date.

CEO Michael Saylor’s comments on X (formerly Twitter) emphasized a long-term view on digital assets by comparing Bitcoin investment to historical valuations of Manhattan.

His advocacy for a Digital Assets Framework and a Bitcoin Strategic Reserve, alongside MicroStrategy’s inclusion in the Nasdaq 100, highlighted their pivotal role in shaping the financial space.

The MSTR approach could suggest future trends in corporate asset allocation and the broader integration of digital assets in financial strategies.

Other crypto stocks were up

MARA Holdings’ stock climbed 11% in response to Bitcoin’s ascent to a new all-time high of around $107K.

This upswing in MARA’s stock price paralleled gains across crypto-linked equities, highlighting the market’s increasing interdependence with crypto performance.

MARA utilized proceeds from its zero-coupon convertible notes offerings to buy 11,774 BTC. The $1.1 billion acquisition at $96K per BTC yielded a return of 12.3% for the quarter and 47.6% year-to-date.

MARA’s Bitcoin holdings now stand at 40,435 BTC, valued at $3.9 billion. The corresponding price action has its stock poised to hit $45.

Additionally, Riot Blockchain capitalized on its increased funding from an upsized $594 million convertible bond issue, purchasing 667 BTC at an average of $101,135 each.

This strategic move exp

Go to Source to See Full Article
Author: Lennox Gitonga

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details