Bitcoin Smashes ATH as Corporate Treasuries Pile In—Wall Street Plays Catch-Up
Another day, another record—BTC just punched through its all-time high again while Fortune 500 balance sheets scramble to onboard the orange pill. Guess those ’risk asset’ memos aged like milk.
Corporate buying spree defies ’institutional caution’ narrative
Turns out holding 0% yielding cash hurts more than FOMO. Who knew? MicroStrategy’s not-so-micro $10B stash looks smarter by the minute as CFOs quietly rewrite treasury policies between Zoom calls.
The real surprise? How many suits still pretend they ’don’t understand the use case’ while funneling pension funds into GBTC. Stay skeptical, boomers—the blockchain won’t notice.
$110,853 set a new all-time high of 111,970 USD on Bitcoin Pizza Day. This event coincided with the 15th anniversary of Laszlo Hanyecz buying two pizzas for 10,000 Bitcoin in 2010. When valued today, those two pizzas equate to approximately 1.1 billion USD.
ContentsInstitutional Investments and MicroStrategy’s PlansVolatility in Metaplanet Stock PricesBitcoin Pizza Day and BTC’s Journey
Institutional Investments and MicroStrategy’s Plans
With Bitcoin reaching its historical peak, institutional investors continued their BTC acquisitions unabated. MicroStrategy, despite the high market prices, added 7,390 more Bitcoins to its portfolio. The company paid approximately 765 million USD for this purchase. MicroStrategy currently holds 576,230 Bitcoins and stands out as the largest institutional investor in this field.
Additionally, MicroStrategy announced the initiation of a 2.1 billion USD stock sale program. According to the company’s statement, the proceeds will be used for corporate purposes, specifically bitcoin purchases. The sales will occur through block trades and negotiated transactions over time, depending on market conditions.
Michael Saylor: “If you’re not buying Bitcoin at its all-time high, you’re leaving money on the table.”
Volatility in Metaplanet Stock Prices
Japan-based Metaplanet, corresponding to MicroStrategy from Asia, had a remarkable market movement throughout the week. Metaplanet’s shares skyrocketed by 100% in one day. However, they later lost some value. Weekly graphs showed a 26% increase in the company’s shares, reaching 835 Japanese Yen compared to the start of the week.
The sudden surge was attributed to Metaplanet being the most short-sold stock on Japanese exchanges, causing volatile price fluctuations due to low trading volumes. Experts describe this as a “short squeeze.”
Simon Gerovich: “Apparently, Metaplanet is the most shorted stock in Japan. Do they really think investing against Bitcoin is a winning strategy?”
Bitcoin Pizza Day and BTC’s Journey
The 15th year of Bitcoin Pizza Day holds symbolic importance for the cryptocurrency world. The famous transaction on May 22, 2010, is now seen as one of Bitcoin’s economic history milestones. After spending 10,000 Bitcoins on two pizzas, BTC’s price has significantly increased over the years.
Compared to today’s value, the transactions made by early Bitcoin users have appreciated remarkably. In this light, “Bitcoin Pizza Day” is both a celebration of past journeys and a demonstration of the digital assets’ current standing.
The current levels reached by Bitcoin and the aggressive acquisition behavior of major companies serve as a crucial indicator of institutional adaptation to the crypto market. Companies like MicroStrategy and Metaplanet’s interest in Bitcoin shapes investor behavior and heightens market volatility. The rapid price fluctuations observed, especially recently, highlight the impact of institutional investments on markets. Today’s developments indicate that Bitcoin’s place in the financial world is increasingly solidifying.
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