RIOT - Bitcoin Ethereum Dogecoin Rise As Saylor's MicroStrategy Bags $37M Worth BTC: On-Chain Analyst Says Strong 'Holder Sentiment' Prevails After $1.22B Worth of ETH Exit Crypto Exchanges | Benzinga
Major cryptocurrencies surged on Tuesday evening following an announcement from MicroStrategy Inc (NASDAQ:MSTR), the largest publicly traded holder of Bitcoin.
What Happened: The company revealed that it had acquired an additional 850 BTC in January, boosting its total holdings to 190,000 BTC, with an estimated worth of $8.1 billion.
In the business software firm’s Q4 2023 Feb. 6 earnings call, the chief financial officer, Andrew Kang, revealed that the company procured 56,650 BTC throughout 2023 at an average price of $33,580.
According to MicroStrategy’s executive chairman, Michael Saylor, the company’s performance in 2023 can be attributed to investors recognizing the broader theme of a “digital transformation” of assets.
Saylor emphasized, “2024 is the year of the birth of Bitcoin as an institutional-grade asset class, in fact, it's the first new asset class of the modern era.”
Top Gainer (24 Hour)
Cryptocurrency Gains +/- Price (Recorded 9:30 p.m. EDT)
Dymension (CRYPTO: DYM) +26.48% $5.05
Ethereum Name Service (CRYPTO: ENS) +16.10% $23.13
Ronin (CRYPTO: RON) +9.53% $2.76
The global cryptocurrency market cap now stands at $1.66 trillion, showing a 1.24% increase in the past 24 hours.
Stocks made gains on Tuesday as Wall Street evaluated the latest corporate earnings and the ...