With a total of 158,245 BTC acquired at an average price of $29,582 per Bitcoin, MicroStrategy’s holdings now value approximately $4.68 billion as of September 24, 2023.
Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched in January 2009.
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Clayton expressed a clear stance on Bitcoin, saying, “It is clear that Bitcoin is not a security…approval is inevitable.”
Cryptocurrency investment has garnered immense attention, with advocates praising its disruptive potential and critics highlighting its volatility and regulatory challenges.
The competition among these high-profile companies underscores the increasing demand for a regulated Bitcoin ETF. Investors eagerly await the SEC’s decision on these applications, as the approval of a Bitcoin ETF could open doors for wider adoption and investment in the cryptocurrency market.
Shivam Thakral emphasized that achieving a balance between safeguarding investor protection and facilitating market access is of paramount importance. For this, he advocated close collaboration between regulators and industry participants, fostering a dynamic approach in continuously updating regulatory frameworks to keep pace with the ever-evolving crypto market.
Dhruvil Shah expressed that the approval of a Bitcoin ETF could bring about a transformative shift in the cryptocurrency market. It would pave the way for a fresh wave of institutional investment, potentially propelling Bitcoin into the mainstream of finance.
The US government holds 205,514 Bitcoin trove worth $5.6B, more than Michael Saylor’s Microstrategy. How it might impact the crypto market and should traders be concerned about this crypto cache? CoinScouts Co-Founder Kevin Explores.
The SEC’s decision to review BlackRock’s spot Bitcoin ETF application signals a shifting regulatory landscape, one that appears to be increasingly embracing the potential of cryptocurrencies and their integration into traditional financial markets.
While we are not currently in a bull market, there is a sense of anticipation and longing for another one. When will it come, you may ask? Optimists expect a new bull run by the end of 2024, following the four-year halving pattern.