Saylor Sells MSTR To Buy More BTC

$MSTR, under Michael Saylorโ€™s leadership, has made another bold move, purchasing 5,445 $BTC at an average price of $27,053 after selling its own stock. ๐ŸŒ

The company invested $147.3 million between Aug. 1 and Sept. 24, selling 403,362 class A common stocks to fund its Bitcoin purchases. The company now holds 158,245 BTC, investing approximately $4.68 billion over three years.

MSTR dropped -25% from Aug. 1 to Sept. 24, but is higher +1.35% since the news dropped today.ย ๐Ÿš€

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So. Damn. Close.

Unless you’ve been sleeping off some horrible life decisions from last night, $BTC is insanely close to reaching its prior all-time high. ๐Ÿš€

It’s probable that by the time you read this, new all-time highs might already be in.ย 

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Bitcoin Allocations Matched With Gold?

Will Bitcoin ever match the gold in investors’ portfolios? ๐Ÿ…

JP Morgan ($JPM) thinks that for Bitcoin to rub shoulders and match the allocation of gold in investor portfolios, its market cap would need to skyrocket to $3.3 trillion.

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Crypto News In Three Sentences – March 1, 2024

๐Ÿ‘€ Bitcoin ETFs Fly High Without Vanguard: The SEC’s nod to Bitcoin ETFs brings a seismic shift, yet giants like Vanguard ($VOO) stay on the bench, watching millions flow into these new funds. Despite Vanguard CEO Tim Buckley bowing out amid whispers of regret of not joining everyone else at the BTC ETF party, considering most of Vanguard AUM grew under Buckley, the no BTC ETF probably isn’t why. Probably. Maybe. From DailyCoin

๐Ÿฆ Wells Fargo and BoA Embrace Crypto Craze:ย Speaking of Bitcoin ETF acceptance, Wells Fargo ($WFC) and Bank of America ($BAC) take the crypto plunge, offering Bitcoin ETFs to their daring clients. They join a financial frenzy alongside Schwab and Robinhood, contrasting Vanguard’s skeptical stance. Hey, maybe Wells Fargo will open crypto accounts for people who never asked them to? More from Cryptopolitan

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February Was Amazing

Historically, $BTC usually closes in the green in February. 2024’s Feb close brings the score to eleven bullish closes vs. three bearish closes since 2011. ๐Ÿ‘

However, despite the high number of bullish closes for February, its average performance is very ‘meh.’ But not this year.

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