MSTR - Bitcoin Ethereum Dogecoin Surge Crypto Market Cap Hits $2.5T While MicroStrategy Loads Up On BTC: Analyst Predicts A 'Full-Blown Parabolic' Movement Could Send King Crypto Towards $170K | Benzinga
Major cryptocurrencies rallied on Monday evening propelled by Bitcoin’s continued ascent in the ranks of top assets by market cap. Bitcoin surpassed silver to claim the title of the world’s eighth most valuable property.
What Happened: Bitcoin surged to an all-time high, soaring past $72,000 on Monday. As a result, Bitcoin’s valuation skyrocketed to $1.42 trillion, surpassing that of silver, which stands at $1.387 trillion, as reported by CompaniesMarketCap.
Last week saw substantial growth in digital asset investment funds, with a remarkable $2.7 billion in inflows, propelling the year-to-date total to $10.3 billion, as reported by CoinShares.
The record annual inflow of $10.3 billion in 2021 appears poised to be surpassed next week, marking this achievement less than three months into 2024.
MicroStrategy on Monday increased its BTC holdings by 12,000, with the majority of the purchase being supported by the $782 million obtained from its most recent convertible debt offering. The software company, led by Bitcoin advocate Michael Saylor, now possesses a total of 205,000 BTC, valued at approximately $14.7 billion. The newest bitcoin acquisition, at an average price of approximately $68,477 per coin, amounted to a total of $821.7 million, utilizing the proceeds from the debt raise along with surplus cash.
MicroStrategy, last week, announced that it was looking to raise $600 million for the purchase of more bitcoin through the sale of convertible senior notes at an interest rate of 0.625% per annum. The company subsequently increased the target to $700 million.
Top Gainer (24 Hour)
The global cryptocurrency market cap now stands at $2.5 trillion, showing a 2.10% increase in the past 24 hours.
On Monday, ...