Owning $15 billion in Bitcoin, a software company's shares increased 122%

Bitcoin price sublimated before Halving

The largest cryptocurrency by market capitalization hit a high of $72,668 in the past 24 hours after experiencing a lull last week. According to data from CoinGecko, the BTC price is currently only 3% lower than its all-time high of $73,737 reached in March.

CoinMarketCap data shows that Bitcoin trading volume over the past 24 hours was more than $38.1 billion. The capitalization of the world's largest digital currency currently reaches 1,407 billion USD.

Many other cryptocurrencies also increased sharply in price following the rise of Bitcoin. For example, compared to the previous 24 hours, the cryptocurrency with the second largest market capitalization, Ethereum, increased by 10.16% to 3,710 USD, with a capitalization of 445 billion USD.

The capitalization value of the cryptocurrency market also increased compared to the previous 24 hours, reaching 2,680 billion USD.

Bitcoin's recent ascent has been driven by crypto loyalists, who are predicting even more gains this spring following an event known as 'Halving'.

When it was created in 2009 by the pseudonymous software programmer Satoshi Nakamoto, Bitcoin was programmed with a fixed supply schedule and a halving of miners' rewards every four years.

After the next cut, also known as halving, the daily new coin supply will be 450 instead of 900. That could push Bitcoin prices higher.

A series of benefiting companies

As Bitcoin rises in price, so do the stocks of public companies with exposure to the cryptocurrency industry. Among them, Coinbase and MicroStrategy are among the stocks with the strongest price increases today.

MicroStrategy was founded 35 years ago and has remained active in the software industry for most of its time. The company started buying Bitcoin in mid-2020, betting the cryptocurrency would help it survive in a time of fierce competition.

MicroStrategy has a unique business model based on buying and holding Bitcoin. The report says the company plans to continue adding to its Bitcoin coffers using proceeds from capital markets transactions and excess cash generated by its enterprise software business. create.

Benchmark estimates that the company will hold 298,246 BTC by the end of 2025, up from the 214,246 BTC it owned as of March 19.

MicroStrategy stock increased more than 300% last year and continues to increase more than 122% since the beginning of the year.

The company's co-founder and president, Michael Saylor, has argued that the stock gives investors safe exposure to BTC. The company currently holds $15 billion in BTC.

America's largest cryptocurrency exchange, Coinbase (headquartered in San Francisco), has also seen its stock price increase by more than 63% since the beginning of the year.

Meanwhile, electric car giant Tesla is one of the largest public companies holding Bitcoin with more than 9,000 BTC (equivalent to 700 million USD). Tesla stock price has also increased more than 5% and is currently trading at 173.39 USD/share.

Samuel Daniel

Update 09 April 2024