Michael Saylor, co-founder of Strategy and founder of Bitcoin (BTC(purchase) on Sunday. Total holdings of the company have now reached $71 billion.
The Treasury Company’s most recent purchase The purchase of 4,225 BTC was made on 14 July for $472.50 million. This brought its total BTC holdings up to 601,550 BTC worth $71.4 billion.
According to the company, its Bitcoin investments have generated unrealized gains of over $28.5 billion. SaylorTracker.
The Bitcoin Treasury Companies led by StrategyContinue to be a leader in the main drivers of Bitcoin demand Crypto exchanges and institutional investors are among the other players in this market.
Related: Lawsuits piling up against Strategy could take years, go nowhere, lawyer says
Strategy’s market capitalization surges with the $4 trillion crypto market cap
Stock (or shares) of a company surged by about 21.52% In the past month, Strategy has been valued at over $118 Billion.
The stock market rally of Strategy coincided with a surge in crypto markets, which saw the total market capitalization increase. crossing the $4 trillion mark Bitcoins in July hitting a new all-time high.
The BTC Treasury Company will be launching its treasury services in December 2024. entered the Nasdaq 100 stock market index Strategy’s shares grew in demand from institutions.
Certains institutional investors are interested in Bitcoin, but they cannot directly hold Bitcoin within their funds. They purchase corporate debt or hold Bitcoin Treasury companies as an alternative to holding BTC.
“There are trillions of dollars of managed capital, and some of that has strict mandates associated with it,” macroeconomist Lyn Alden wrote.
“There are stock funds where the portfolio manager can only buy stocks. He or she cannot buy bonds, ETFs, or commodities,” Alden explained the restrictions that asset managers face.
Vanguard is one of the most prominent institutional investment companies that has opposed Bitcoin for years. holds 20 million shares of StrategyAbout 8% of all outstanding company stock.
Bitcoin is integrated into the traditional financial system through existing investment vehicles.
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Source: cointelegraph.com
