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Michael Saylor's Strategy owns 3% of Bitcoin in circulation after latest purchase
Michael Saylor's Strategy owns 3% of Bitcoin in circulation after latest purchase

Economic Times

time15 hours ago

  • Business
  • Economic Times

Michael Saylor's Strategy owns 3% of Bitcoin in circulation after latest purchase

Michael Saylor's Strategy now owns more than 3% of all the Bitcoin ever minted following the crypto treasury company's latest purchase of the original cryptocurrency. ADVERTISEMENT The former MicroStrategy Inc. acquired 6,220 Bitcoin for $739.8 million during the seven days ended July 20, according to a filing Monday with the US Securities and Exchange Commission. This raised the Tysons Corner, Virginia-based firm's holdings to 607,770 Bitcoin — which is about 3.05% of the roughly 19.9 million token issued. The stack is worth about $72 billion. Strategy has been using a combination of common and preferred shares, as well as debt, to fund Bitcoin purchases since it began accumulating the cryptocurrency in late 2020 as a hedge against inflation. Dozens of companies have begun to emulate the practice. Strategy is the world's leading corporate owner of Bitcoin. BlackRock's iShares Bitcoin Trust ETF (IBIT) holds about $86 billion in assets. While some other tokens' unlimited supply has concerned investors, Bitcoin's store of value proposition has been buoyed by the 21 million limit on the number of tokens to be mined. Instructions in the network's original code have further helped to promote the scarcity value of the token — like quadrennial halving events that automatically slash the amount of token rewards miners earn. The last Bitcoin is expected to be issued in the year 2140. Strategy said separately Monday that it planned to offer 5 million of variable-rate Series A perpetual Stretch preferred stock to help finance additional Bitcoin purchases. It is the fourth series of preferred shares by the company. The common shares of Strategy has surged more than 3,500% since Saylor - a founder and executive chairman of the company - began buying Bitcoin. The cryptocurrency has risen about 1,100% during the same period, while S&P 500 has increased around 120%. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)

Michael Saylor's Strategy owns 3% of Bitcoin in circulation after latest purchase
Michael Saylor's Strategy owns 3% of Bitcoin in circulation after latest purchase

Time of India

time15 hours ago

  • Business
  • Time of India

Michael Saylor's Strategy owns 3% of Bitcoin in circulation after latest purchase

Michael Saylor's Strategy now owns more than 3% of all the Bitcoin ever minted following the crypto treasury company 's latest purchase of the original cryptocurrency . The former MicroStrategy Inc. acquired 6,220 Bitcoin for $739.8 million during the seven days ended July 20, according to a filing Monday with the US Securities and Exchange Commission. This raised the Tysons Corner, Virginia-based firm's holdings to 607,770 Bitcoin — which is about 3.05% of the roughly 19.9 million token issued. The stack is worth about $72 billion. Explore courses from Top Institutes in Please select course: Select a Course Category healthcare Product Management Finance CXO Operations Management MCA Others Healthcare MBA others Management Technology Cybersecurity Data Science Digital Marketing Data Science Project Management Artificial Intelligence Public Policy Design Thinking Data Analytics Leadership PGDM Degree Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details Strategy has been using a combination of common and preferred shares, as well as debt, to fund Bitcoin purchases since it began accumulating the cryptocurrency in late 2020 as a hedge against inflation. Dozens of companies have begun to emulate the practice. Strategy is the world's leading corporate owner of Bitcoin. BlackRock's iShares Bitcoin Trust ETF (IBIT) holds about $86 billion in assets. Crypto Tracker TOP COIN SETS NFT & Metaverse Tracker 15.58% Buy DeFi Tracker 11.00% Buy Crypto Blue Chip - 5 7.78% Buy AI Tracker 6.81% Buy Web3 Tracker 3.48% Buy TOP COINS (₹) BNB 68,682 ( 3.52% ) Buy Bitcoin 10,319,321 ( 1.58% ) Buy Tether 86 ( 0.11% ) Buy XRP 304 ( -0.87% ) Buy Ethereum 322,583 ( -1.33% ) Buy While some other tokens' unlimited supply has concerned investors, Bitcoin's store of value proposition has been buoyed by the 21 million limit on the number of tokens to be mined. Instructions in the network's original code have further helped to promote the scarcity value of the token — like quadrennial halving events that automatically slash the amount of token rewards miners earn. The last Bitcoin is expected to be issued in the year 2140. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Strategy said separately Monday that it planned to offer 5 million of variable-rate Series A perpetual Stretch preferred stock to help finance additional Bitcoin purchases. It is the fourth series of preferred shares by the company. Live Events The common shares of Strategy has surged more than 3,500% since Saylor - a founder and executive chairman of the company - began buying Bitcoin. The cryptocurrency has risen about 1,100% during the same period, while S&P 500 has increased around 120%.

Telix subpoenaed by US regulator over cancer therapy
Telix subpoenaed by US regulator over cancer therapy

AU Financial Review

timea day ago

  • Business
  • AU Financial Review

Telix subpoenaed by US regulator over cancer therapy

Cancer diagnostic giant Telix Pharmaceuticals says the US Securities and Exchange Commission had issued it with a subpoena seeking information about disclosure related to the development of the company's prostate cancer therapies. Melbourne-based Telix said on Tuesday it had notified the Australian Securities and Investments Commission about the subpoena, which it called a 'fact-finding request'.

Michael Saylor's Strategy owns 3% of Bitcoin in circulation after latest purchase
Michael Saylor's Strategy owns 3% of Bitcoin in circulation after latest purchase

Business Times

time2 days ago

  • Business
  • Business Times

Michael Saylor's Strategy owns 3% of Bitcoin in circulation after latest purchase

[NEW YORK] Michael Saylor's Strategy now owns more than 3 per cent of all the Bitcoin ever minted following the crypto treasury company's latest purchase of the original cryptocurrency. The former MicroStrategy acquired 6,220 Bitcoin for US$739.8 million during the seven days ended Jul 20, according to a filing on Monday (Jul 21) with the US Securities and Exchange Commission. This raised the Tysons Corner, Virginia-based firm's holdings to 607,770 Bitcoin, which is about 3.05 per cent of the roughly 19.9 million token issued. The stack is worth about US$72 billion. Strategy has been using a combination of common and preferred shares, as well as debt, to fund Bitcoin purchases since it began accumulating the cryptocurrency in late 2020 as a hedge against inflation. Dozens of companies have begun to emulate the practice. Strategy is the world's leading corporate owner of Bitcoin. BlackRock's iShares Bitcoin Trust ETF (IBIT) holds about US$86 billion in assets. While some other tokens' unlimited supply has concerned investors, Bitcoin's store of value proposition has been buoyed by the 21 million limit on the number of tokens to be mined. Instructions in the network's original code have further helped to promote the scarcity value of the token, such as quadrennial halving events that automatically slash the amount of token rewards miners earn. The last Bitcoin is expected to be issued in the year 2140. Strategy said separately on Monday that it planned to offer five million of variable rate Series A perpetual Stretch preferred stock to help finance additional Bitcoin purchases. It is the fourth series of preferred shares by the company. The common shares of Strategy has surged more than 3,500 per cent since Saylor, a founder and executive chairman of the company, began buying Bitcoin. The cryptocurrency has risen about 1,100 per cent during the same period, while S&P 500 has increased around 120 per cent. BLOOMBERG

Figma, Backers Seek $1.03 Billion in IPO After Failed Adobe Deal
Figma, Backers Seek $1.03 Billion in IPO After Failed Adobe Deal

Bloomberg

time2 days ago

  • Business
  • Bloomberg

Figma, Backers Seek $1.03 Billion in IPO After Failed Adobe Deal

Figma Inc. and some of its investors are seeking to raise as much as $1.03 billion in a US initial public offering, as the app design and collaboration software company readies what could be one of the biggest listings of the year. A listing for San Francisco-based Figma could give it a market value of up to $13.6 billion, based on a Monday filing with the US Securities and Exchange Commission. That's below the $20 billion valuation it would have fetched in a planned sale to Adobe Inc. that fell apart in 2023.

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