MicroStrategy now owns 2% of all BTC ever mined!

You won't believe how much it cost them.

Author

Daniel Akpobare
December 10, 2024

GM Explorer,

MicroStrategy is at it again—snapping up Bitcoin like it’s the final hours of a crypto Black Friday sale.

Their unstoppable obsession just cost them a jaw-dropping $2.1 billion in a single week!

Here’s what we got for you today:

  • 🤑 MicroStrategy Now Owns 2% of All BTC Ever Mined!

  • 🔎 Market Insight

  • 🧱 Around the Block: Crypto.com acquires UAE-based brokerage to boost financial product expansion.

🤑 MicroStrategy Now Owns 2% of All BTC Ever Mined!

MicroStrategy just can’t stop buying Bitcoin!

For the fifth week in a row, the company splurged $2.1 billion to scoop up 21,550 BTC, bringing its total haul to a jaw-dropping 423,650 coins.

The most mind blowing part is that this latest purchase amounts to over 2% of all the Bitcoin that will ever exist—yep, they’re literally hoarding pieces of digital history.

How’d they fund this epic buy? By selling $2.13 billion worth of shares.

Oh, and in case you didn’t know, this is all part of MicroStrategy’s ambitious $42 billion plan to scoop up Bitcoin through share sales and convertible notes.

And they weren’t exactly bargain hunting either—the latest batch came at an average price of $98,783 per coin.

But with Bitcoin recently blasting past $100,000 (thanks to Trump’s re-election and hopes of a pro-crypto White House), they probably figured it was now or never.

Still, Wall Street wasn’t entirely impressed.

Despite the big Bitcoin buy, MicroStrategy’s stock took a 4% dip as Bitcoin slipped below $98K, proving yet again that volatility loves this market more than Elon loves tweeting.

Meanwhile, MicroStrategy isn’t alone in its crypto obsession.

Riot Platforms just announced a $500 million convertible bond plan to boost its BTC stash, while Marathon Holdings and Semler Scientific are also itching to join the party.

So, if you’re wondering where all the Bitcoin went—well, now you know.

The big takeaway? Corporate America has officially decided Bitcoin isn’t just a cryptocurrency—it’s a flex.

Plus, if this buying frenzy keeps up, there might not be much left for anyone except the OG hodlers and the mega-rich investors.

But will these massive bets pay off? Grab your popcorn and let’s see how this crypto drama unfolds.

To learn more, click here!

🔎 Market Insight

Yesterday, the crypto market experienced one of the most significant liquidations in history. Over $1.5 billion in long positions were liquidated in less than 24 hours—levels we haven't seen since 2021.

Liquidation chart from coinglass

With that level of leverage cleared from the market, altcoins have returned to key levels, flipping them into support.

OTHERS Weekly Chart

Bitcoin is equally making its way back up. But is the downtrend truly over?

Historically, Bitcoin often experiences a significant drawdown during weeks 6, 7, and 8 after we enter the parabolic phase of the bull market.

We are currently in week 6, and if history is any guide, the next two weeks might be shaky. However, those periods have always presented excellent opportunities to add to your holdings—in hindsight, of course.

Watch this video to understand what happens during week 6, 7 & 8 of every bull market after entering the parabolic phase.

Our recommendation? 

Buy the dip!

We also suggest maintaining more cash reserves in case the market dips further.

🧱 Around The Block

That's all we've got for you today.

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Catch you soon.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.

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