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MicroStrategy Buys 21,454 BTC, Makes Bitcoin Treasury Reserve Asset

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As a result of the announcement by MicroStrategy about purchasing BTC, the company’s shares jumped 9.12% yesterday.

MicroStrategy Incorporated (NASDAQ: MSTR), the largest independent publicly-traded business intelligence company, yesterday announced that it purchased 21,454 BTC worth $250 million, inclusive of fees and expenses.

The company said that the decision to make Bitcoin its primary treasury reserve asset was in accordance with its long term investment strategy.

“Our investment in Bitcoin is part of our new capital allocation strategy, which seeks to maximize long-term value for our shareholders,” said Michael J. Saylor, CEO, MicroStrategy Incorporated. “This investment reflects our belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”

Bigger Picture of MicroStrategy BTC Investment

As a result of the news, its shares jumped 9.12% yesterday to close the day trading at $134.89. Its shares were initially impacted by the onset of the coronavirus pandemic that largely disrupted the normal supply and demand chain.

However, in the past three months, the company has seen its share value rise. Perhaps due to investors seeking their advice on the general trend of the market.

The company happens to have access to the market inside information, hence promptly acting beforehand. With crypto adoption, fear and greed at their peak, it is an indication a possible bull rally is awaiting that will be fueled by institutional investors, regulators and also retail investors.

“MicroStrategy spent months deliberating to determine our capital allocation strategy. Our decision to invest in Bitcoin at this time was driven in part by a confluence of macro factors affecting the economic and business landscape that we believe is creating long-term risks for our corporate treasury program ― risks that should be addressed proactively,” Saylor added.

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TWTR Stock Spikes 3.9% as Twitter Reveals Plans to Double Revenue by 2023

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To double its annual revenue by 2023 as planned, Twitter would need an increase from 43.7 billion recorded in 2020 to at least $7.5 billion. 

Twitter Inc (NYSE: TWTR) saw a 3.7% gain in its stock after the social media network announced plans to double revenue by the end of 2023. Also in the same year, Twitter hopes to have 315 million monetizable daily active users (mDAUs). In the fourth quarter of 2020, Twitter said that it had 192 million mDAUs.

Twitter announced its long-term plans for revenue and daily active users in a filing with the US Securities and Exchange Commission (SEC) on the 25th of February. According to CNBC, it is the first time Twitter would be settling out long-term goals regarding its revenue and daily users.

Twitter Plans to Double Revenue

To double its annual revenue by 2023 as planned, Twitter would need an increase from 43.7 billion recorded in 2020 to at least $7.5 billion.

In addition, Twitter has plans to double its development velocity by 2023. This means “doubling the number of features shipped per employee that directly drive either mDAU or revenue.”

Furthermore, Twitter added that it aims for a long-term margin target of mid-teens GAAP operating margin, or 40-45% adjusted EBITDA margin.

At the time of writing, Twitter stock is at after-hours trading of $73.93, a 0.88% decline over its previous close of $74.59. Data by MarketWatch revealed that TWTR has been surging over the past months. Over the last year, TWTR has increased by 125.96%. The company has also grown more than 37% since the beginning of January. In addition, the social media giant has surged 60.65% in the last three months and nearly 45% over the past month. In the last five days, Twitter has jumped 3.22%. Twitter currently boasts of a market value of $57.4 billion.

Jack Dorsey Says 2020 Was an “Extraordinary Year” for Twitter

After Twitter reported a better-than-anticipated earnings result for 2020 Q4, the company spiked 13%. Confirming CEO Jack Dorsey’s remark that 2020 was an “extraordinary year” for Twitter, the company recorded $1.29 billion in revenue against $1.18 billion earlier predicted by analysts.

Despite the global economic meltdown that affected several companies as a result of the pandemic, Twitter grew in 2020. In the year, the social media giant jumped about 82%. Twitter also saw an increase in the number of daily active users.

Amid the growing adoption of Bitcoin among public companies, Twitter CEO Ned Segal recently revealed that the company is considering adding BTC to its balance sheet. In an interview with CNBC’s Squawk Box on the 10th of February, Segal said that Twitter has done a lot of “upfront thinking” regarding the matter and would continue to deliberate on it.

In October 2020, Twitter’s sister company Square Inc (NYSE: SQ) said it had invested $50 million in Bitcoin.

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Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.



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SEC Investigates Tesla’s CEO Elon Musk over Tweets Promoting DOGE

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Shortly after Klarna CEO Sebastian Siemiatkowski expressed his concern over tweets promoting Bitcoin, reports revealed that the SEC is investigating Musk over DOGE tweets.

The price of DOGE has declined in reaction to the news that the US Securities and Exchange Commission (SEC) is currently investigating Tesla’s (NASDAQ: TSLA) CEO Elon Musk over Dogecoin tweets.

Recently, Elon Musk has been advocating for cryptocurrencies through his Twitter Inc (NYSE: TWTR) posts. Last month, the CEO of the electric vehicle company revealed his interest in the leading crypto asset, adding the Bitcoin hashtag to his Twitter bio. Musk’s action sparked several comments in the crypto community, fueling an increase in the price of BTC.

SEC vs Musk Promoting DOGE

Shortly after including the Bitcoin hashtag on his Twitter bio, Musk posted several tweets, along with images, promoting DOGE. While the CEO’s continuous tweets on DOGE appear as jokes, the posts have been influencing the price of the digital asset. The price of Dogecoin has continually increased in reaction to Musk’s several posts. Over the past month, DOGE has surged more than 500%.

The cryptocurrency, which started as a meme, now has a more than $6.6 billion market value. At the time of writing, DOGE is down 8.55% to $0.05113.

Following a series of tweets that fueled the price of DOGE, the SEC is now investigating Musk over potential security violations regarding the cryptocurrency. On the 25th of February, financial newswire First Squawk announced in a tweet.

Back in 2018, the SEC filed a lawsuit against Musk regarding a comment he made on Twitter, saying that he was considering a decision to take Tesla private. In the tweet, the CEO said:

“Am considering taking Tesla private at $420. Funding secured.”

The SEC reacted to Musk’s claim that the funding was secured. Eventually, the case was settled, with Tesla and Musk paying $20 million fines each.

Klarna CEO Calls For Regulations On Tweets Promoting Bitcoin

Recently, the CEO of European fintech giant Klarna, Sebastian Siemiatkowski, expressed his worry over tweets promoting Bitcoin. The CEO’s comment came about 24 hours before news on Musk’s investigation with the SEC.

In an interview with CNBC on the 24th of February, Siemiatkowski said he is “deeply worried” that such tweets could mislead retail traders. Speaking further in an interview with CNBC on the 24th of February, Klarna CEO called on regulators to caution such tweets to prevent people from potential losses.

As stated in a CNBC report, Siemiatkowski explained:

“It’s great that we can introduce new financial products and so forth. But they need to follow the standard regulations that we put in place and somebody needs to police that to make sure those are being met because otherwise what we will have is a lot of consumers losing a lot of money. And that’s just unfortunately what’s happening.”

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Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.





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Focus on DeFi ‘fairness’ benefits Holochain, Orion Protocol and Dodo

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Bitcoin’s (BTC) strong bull run and the immense popularity of the decentralized finance space have attracted several new investors to cryptocurrencies. A report from Crypto.com shows a massive increase in crypto users as the figure rose from 66 million in May 2020 to 106 million by January this year. 

Crypto market data daily view. Source: Coin360

Contrary to the popular notion that new crypto users are mostly speculating on the price, data from Unchained Capital shows that investors who bought in the past three to five years are still holding and are not yet tempted to book profits.

Unlike the 2017 bull market where many low-cap altcoins rallied, the current bull trend has rewarded projects with strong fundamentals. Let’s have a look at three such tokens and also analyze their charts.