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MicroStrategy, which insists on Bitcoin investments and has taken significant risks by adding Bitcoin to its corporate portfolio, has surpassed Coinbase in market capitalization. The company’s founder, Michael Saylor, has seen his strategy pay off as Bitcoin prices rise. Currently holding approximately 250,000 BTC, MicroStrategy has reached a market value of $49.7 billion, surpassing Coinbase’s market value of $47.9 billion.
Coinbase’s Decline Played a Role
Coinbase’s stock has experienced its largest drop in the last two years, losing over 15% of its value. MicroStrategy’s rise in the market is fueled not only by the increase in Bitcoin prices but also by Coinbase’s decline in value. The drop in Coinbase’s stock value is attributed to regulatory uncertainties in the U.S. and general volatility in the cryptocurrency market.
MicroStrategy’s $42 Billion Investment Plan
MicroStrategy has announced a new fundraising plan to continue its Bitcoin purchases. The company aims to raise a total of $42 billion through a $21 billion capital increase and the sale of $21 billion in fixed-income securities. This move demonstrates the company’s ongoing confidence in Bitcoin and its desire to continue acquiring Bitcoin without hesitation.
With this investment, MicroStrategy is referencing Bitcoin’s limited supply of 21 million coins. The company’s boldness in BTC investments has also led corporate firms hesitant to invest directly in Bitcoin to indirectly turn to MSTR shares. Through this strategy, MicroStrategy is becoming a safe haven for companies looking to invest indirectly in Bitcoin.
What Could Happen in the Coming Years?
Michael Saylor and his team foresee that as Bitcoin prices appreciate, the company’s stock will also rise in the long term. With increasing Bitcoin prices, MicroStrategy’s market value could continue to grow steadily. The rising interest in cryptocurrencies in the corporate world may allow firms like MicroStrategy to maintain a strong position in the industry
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