Crypto Strategy Purchases 15,355 Bitcoins as Max Keiser Advocates for Corporations to "Saylorize" for Survival in US Market
Morning Crypto News Flash: Get the Scoop on Bitcoin's Battle between Titans, Strategy and 21 Capital
Fuel up and dive into the day's crypto race! Analysts are gabbing about Bitcoin as Strategy (previously MicroStrategy) and Jack Mallers' investment firm, 21 Capital, square off. With their Bitcoin strategies under scrutiny, what's the real victory in the world of Bitcoin?
Strategy's Bitcoin Buying Spree Galore
Strategy unveiled it snapped up an additional 15,355 BTC, worth a whopping $1.42 billion at an average price of $92,737 the last week.
Now, the company's digital stash reaches 553,555 BTC, valued at approximately $52.7 billion. The average purchase price came to $68,459, and their unrealized gain skyrockets to $14.8 billion.
According to Phoenix's report, Strategy continues to leverage its status as a major crypto player, drawing curiosity from investors and analysts. As an independent, publicly-traded business intelligence company and a Nasdaq 100 stock, Strategy firmly stands as Bitcoin's largest Treasury Company.
On the other hand, as Strategy ramps up the Bitcoin buys, 21 Capital is stirring a 'viral effect,' encouraging companies to stockpile Bitcoin.
The Rise of 21 Capital: Bitcoin's Next Big Thing?
A recent US Crypto News article highlighted the birth of 21 Capital, a Bitcoin investment firm. Established following hefty investments from Cantor Fitzgerald, SoftBank, Tether, and Bitfinex, 21 Capital holds $3 billion in capital.
While initially seen as a potential challenger to Strategy, questions have been raised about the feasibility of increasing Bitcoin per share, a metric in which investors typically show interest.
The tension rises as BitStrategy, a Strategy shareholder, calls out 21 Capital's business model.
Tensions Flare in the Bitcoin Treasury World
In a revealing post on X (Twitter), BitStrategy acknowledged the escalating rivalry in the Bitcoin treasury arena. However, it emphasizes Strategy's lead in the game.
"They're directly competing with us, and they seek to exploit a perceived vulnerability in our structure, boasting their strengths relatively to ours, aiming to win investments," BitStrategy countered in a recent post.
Beyond Bitcoin Yield, Strategy has initiated other key performance indicators, such as BTC Gain and BTC $ Gain, to fortify their position in the competitive landscape.
- Bitcoin Gain multiplies the BTC Yield by Strategy's aggregate balance, providing insight into the organization's total Bitcoin wealth.
- Bitcoin $ Gain further showcases the BTC Gain in U.S. dollar terms, ensuring increased clarity for investors.
This proactive move suggests Strategy's dedication to hold onto its position as a leading Bitcoin-holding corporation amid its rising contenders.
"You can simulate a convincing BTC Yield. You cannot replicate a convincing BTC Gain," BitStrategy added.
Analyst KenjiKoshu argues that, while Strategy may display remarkable Bitcoin gains, smaller firms like 21 Capital might surpass them on a per-share basis.
The perspective aligns with 21 Capital's argument that Strategy's size makes it difficult to boost Bitcoin per share.
However, BitStrategy clarified that the purpose of BTC Gain and BTC $ Gain is to highlight the significance of viewing the company's performance holistically rather than on a per-share basis.
Without an agreed-upon standard valuation methodology for Bitcoin companies, every metric carries a certain level of arbitrariness.
In light of this ambiguity, BeInCrypto reached out to Bitcoin pioneer Max Keiser, who was instrumental in aiding El Salvador's Bitcoin adoption.
"For corporations to remain relevant, they must emulate Strategy's process or face extinction," Keiser informed BeInCrypto.
According to Keiser, the world is transitioning towards a Bitcoin Standard, and all existing fiat money, even with stablecoins acting as propellers, faces an inevitable doom.
Chart of the Day
Daily Dose of Alpha
- Bitcoin inches towards $95,700, boosted by excessive enthusiasm and extreme optimism in social media sentiment.
- Investors increasingly view digital assets as safe havens as Bitcoin acts as a cushion against the U.S. dollar's turbulence, as crypto inflows surge to $3.4 billion.
- Proposed Ethereum changes could inflate its TPS to 2,000, hinting at an exponentially expanding trajectory.
- Bitwise CEO claims institutional investors are the prime drivers behind Bitcoin's rally, not FOMO. This revelation helps explain the sudden drop in Bitcoin search volume on Google Trends.
- ProShares' XRP futures ETF approval sparks optimism, with predictions that a spot ETF might follow, potentially luring $100 billion to XRP.
- Three upcoming crypto airdrops will offer investors an early pass to projects with incredible potential, fueled by substantial financial backing.
- New XRP address creation reached a two-week high at 3,677, reflecting a fresh wave of market capitalization and growing investor confidence.
- Founders of World Liberty Financial and Changpeng Zhao met in Abu Dhabi to discuss standardizing the crypto industry and promoting global adoption efforts.
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- In the crypto world, Strategy, previously MicroStrategy, acquired an additional 15,355 Bitcoin worth $1.42 billion, increasing their digital stash to 553,555 Bitcoin worth approximately $52.7 billion.
- The average purchase price of Strategy's Bitcoin is $68,459, with an unrealized gain of $14.8 billion.
- As Strategy steps up its Bitcoin buying, 21 Capital, a new Bitcoin investment firm, is encouraging companies to stockpile Bitcoin, potentially challenging Strategy.
- 21 Capital, with investments from Cantor Fitzgerald, SoftBank, Tether, and Bitfinex, holds $3 billion in capital.
- Questions have been raised about the feasibility of increasing Bitcoin per share for 21 Capital, a metric in which investors typically show interest.
- BitStrategy, a Strategy shareholder, has called out 21 Capital's business model and emphasized Strategy's lead in the Bitcoin treasury game.
- Strategy has introduced new key performance indicators, such as BTC Gain and BTC $ Gain, to fortify their position in the competitive landscape.
- Bitcoin pioneer Max Keiser believes corporations must emulate Strategy's process or face extinction, as the world is transitioning towards a Bitcoin Standard.
- Crypto inflows surge to $3.4 billion, as investors view digital assets as safe havens amid US dollar turbulence.
- Three upcoming crypto airdrops offer investors an early pass to projects with significant potential, fueled by substantial financial backing.
