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On Monday, Bitcoin treasury company MicroStrategy announced that it had spent roughly $561 million to acquire additional Bitcoin as it remains uber-bullish on the world’s largest and oldest cryptocurrency. This marks its seventh consecutive week of Bitcoin purchases . The purchase comes as MicroStrategy officially begins trading as a member of the Nasdaq-100 equity index. MicroStrategy Buys More Bitcoin At An Average Price Of $106K According to a Monday announcement , MicroStrategy purchased 5,262 Bitcoin between December 16 and December 22 and now holds 444,262 BTC in total, valued at over $41 billion as of press time. MicroStrategy bought its latest Bitcoin at an average price of $106,662 per coin — the highest cost the firm has ever paid per BTC. The latest purchase contributes to the firm’s outstanding Bitcoin yield of 47.4% quarter-to-date and 73.7% year-to-date, raising the average cost to $62,257 per Bitcoin. MicroStrategy has acquired 5,262 BTC for ~$561 million at ~$106,662 per bitcoin and has achieved BTC Yield of 47.4% QTD and 73.7% YTD. As of 12/22/2024, we hodl 444,262 $BTC acquired for ~$27.7 billion at ~$62,257 per bitcoin. $MSTR https://t.co/asDGerBV7q — Michael Saylor (@saylor) December 23, 2024 According to a Monday SEC filing, the Tysons, Virginia-based company financed its Bitcoin purchase by selling shares of its stock. Last week, MicroStrategy sold 1.3 million shares, generating roughly $561 million in net proceeds. While MicroStrategy has been snapping up the apex crypto since 2020, Monday’s announcement came at a historic time for the Michael Saylor-founded company. MicroStrategy was added to the Nasdaq-100 index earlier this month. MicroStrategy’s shares officially started trading as part of the index on December 23. The listing is bullish for the crypto industry as it indicates more mainstream acceptance of the fast-growing sector. Back in October, MicroStrategy announced plans to raise $42 billion in capital to support further Bitcoin purchases as part of its treasury reserve strategy. As of December 22, the firm revealed it had about $7 billion worth of shares still available for sale as part of its planned $21 billion equity offering and $21 billion in fixed-income securities. Bitcoin Price Action MicroStrategy’s latest BTC purchase aligns with Michael Saylor’s pledge earlier this month to continue scooping up BTC even at peak prices. “I’m sure that I will be buying Bitcoin at $1 million a coin — probably $1 billion dollars a day of Bitcoin at $1 million a coin,” Saylor posited. However, the price of BTC has plummeted by around 13.7% over the last six days since hitting a new record high mark above $108,000. The correction came after Federal Reserve Chair Jerome Powell said the central bank would reduce interest rates at a slower pace in 2025. Powell also clarified that the Fed was “not allowed to own Bitcoin” and “not looking for a law change.” The top crypto was changing hands for $93,458 as of publication time, representing a 2.3% drop on the day.
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Daddy Pepe (DADDPEPE) Solana Memecoin Will Rally 11,000% Ahead of Exchange Listing, As SHIB, WIF and DOGE Underperform
Daddy Pepe could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Daddy Pepe (DADDPEPE), a new Solana memecoin that was launched today, is set to explode over 11,000% in price in the coming days. This is because DADDPEPE is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Daddy Pepe can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Daddy Pepe could become the next viral memecoin. Daddy Pepe launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Daddy Pepe on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Daddy Pepe by entering its contract address – 9UFnMabUe7wecdEEzAYPoQPZiuTJ1hTFpNz6qtsiB3FA – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DADDPEPE. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price. ZyCrypto
RWA platform Allo secures $100m Bitcoin-backed credit facility
Allo, a real-world assets tokenization platform, has secured $100 million in debt financing to bolster its Bitcoin-backed lending business. On Dec. 23, the Allo team announced the platform had successfully secured the Bitcoin (BTC)-backed credit facility in a financing round… ZyCrypto
