Donald Trump

Bitcoin

MSTR

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">November was remarkable for the cryptocurrency market, with <a href="https://tokenist.com/investing/how-to-invest-in-bitcoin/" rel="dofollow" class="deco-link">Bitcoin (BTC)</a> making big headlines. The total crypto market cap surged by 45%, marking an unprecedented monthly return. <br><br>However, amidst these gains, notable developments affected Bitcoin’s legal and market landscape. El Salvador announced changes to its Bitcoin Law in anticipation of a new IMF deal, and MicroStrategy continued its aggressive Bitcoin acquisition strategy. Meanwhile, Bitcoin reached significant price milestones but faced volatility, as demonstrated by a recent 15% flash crash.</p> 
<h3 id="mstr-buys-an-additional-21-550-bitcoin-for-2-1-billion">MSTR Buys an Additional 21,550 Bitcoin for $2.1 Billion</h3> 
<p>Bitcoin’s market performance has been a rollercoaster, highlighted by key price movements and significant trading volumes. Bitcoin achieved a historic milestone at the start of December, breaking the $100,000 mark for the first time. Despite this achievement, the cryptocurrency experienced a sharp decline, dropping to a low of $97,414.63. <br><br>This fluctuation underscores the <a href="https://tokenist.com/investing/implied-volatility/" rel="dofollow" class="deco-link">ongoing volatility</a> that characterizes the crypto market. Bitcoin’s market cap currently stands at approximately $1.94 trillion, with a trading volume exceeding $56 billion, reflecting the intense activity in the market.</p> 
<p>MicroStrategy’s (NASDAQ: MSTR) decision to purchase an additional 21,550 Bitcoin for $2.1 billion further intensified market dynamics. This acquisition brought the company’s total holdings to 423,650 tokens, valued at <a href="https://www.barrons.com/articles/microstrategy-buys-bitcoin-holdings-49b697e3" target="_blank" aria-label="nearly $42 billion (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">nearly $42 billion</a>. Such moves by institutional investors continue to influence Bitcoin’s market trajectory, with analysts predicting potential price targets of $110,000 by January. <br><br>However, traders remain cautious, as evidenced by the recent flash crash that reset key price metrics and introduced new resistance levels.</p> 
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<h3 id="meanwhile-in-the-cryptoverse">Meanwhile, in the Cryptoverse…</h3> 
<p>On the legal front, El Salvador’s decision to amend its Bitcoin Law is pivotal as the nation negotiates a $1.3 billion loan agreement with the IMF. The proposed changes will ease the mandate on merchants to accept Bitcoin, reflecting a shift in policy influenced by international financial negotiations. </p> 
<p>In another significant news item, JPMorgan described November as a “monumental” month for the crypto market, citing the 45% increase in total market capitalization. This surge is attributed to heightened retail and institutional interest, particularly as Bitcoin and other major cryptocurrencies reached new all-time highs. </p> 
<p>The anticipated return of a <a href="https://tokenist.com/btc-report-bitcoin-nears-99k-trump-announces-ai-and-crypto-czar/" rel="dofollow" class="deco-link">pro-crypto administration under Donald Trump</a> has sparked discussions about potential policy shifts that could impact the future of digital assets. Additionally, Amazon shareholders (NASDAQ: AMZN) are advocating for a <a href="https://finance.yahoo.com/news/amazon-shareholders-push-minimum-5-051554469.html" class="deco-link" target="_blank" rel="nofollow">5% Bitcoin allocation</a> in the company’s treasury to hedge against inflation, signaling a growing acceptance of cryptocurrencies in mainstream finance.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/btc-report-mstr-ups-holdings-to-423650-bitcoins-with-2-1b-purchase/">BTC Report: MSTR Ups Holdings to 423,650 Bitcoins with $2.1B Purchase</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

BTC Report: MSTR Ups Holdings to 423,650 Bitcoins with $2.1B Purchase

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