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MicroStrategy To Raise Another 500 Million Via Debt Offering To Snap Up More Bitcoin

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MicroStrategy To Raise Another $500 Million Via Debt Offering To Snap Up More Bitcoin

By Brenda Ngari – March 14, 2024

MicroStrategy, now touting itself as a Bitcoin Development Company, is not slowing down even after acquiring more Bitcoin than every spot BTC exchange-traded fund (ETF) in the United States. The Michael Saylor-led company is launching another private offering of convertible notes to snatch up more BTC.

$500 Million Debt Sale For More Bitcoin

Prominent technology firm MicroStrategy is planning to sell an additional $500 million of its debt to expand its Bitcoin stockpile.

The company announced its latest fundraiser on Wednesday, which will again come in the form of a private senior convertible notes offering, due on March 15, 2031, in order to buy more BTC.

Just days ago, MicroStrategy completed an $800 debt raise, which had been increased from an initially planned $600 million, with the proceeds of the sale plus excess cash used to purchase 12,000 more BTC for nearly $822 million.

After that purchase, the firm’s cache stands at 205,000 Bitcoins (worth over $15 billion) — making it the largest corporate holder of the preeminent cryptocurrency. Saylor’s massive Bitcoin bet has borne fruits, with nearly $8 billion in unrealized profit on its investment.

MicroStrategy is now just 5,000 Bitcoins, shy of owning 1% of the top crypto’s maximum supply. Assuming Bitcoin continues hovering above $70K, the firm could purchase roughly 6,900 BTC with the proceeds of the latest debt offering.

If six-figure Bitcoin forecasts come true and the flagship crypto reaches $100,000 by mid-2025, MicroStrategy’s unrealized profit on its holdings will exceed $13.4 billion, or a 197% return on investment in the space of five years.

Saylor recently said investors should treat Bitcoin less like a currency and more like a “billion-dollar property in cyberspace” that has the potential to preserve capital for hundreds of years.

Notably, MicroStrategy is not the only crypto firm seeking to borrow money for its business after a parabolic Bitcoin bull run. Coinbase, America’s largest crypto exchange, on March 12 announced it would sell $1 billion worth of senior notes, maturing in April 2030, to qualified institutional investors. The proceeds will be used to repay existing debt and general corporate purposes.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

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Gold Price News: Gold Pulls Back From All-Time Highs

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Gold Price News: Gold Pulls Back From All-Time Highs
 

Frank Watson

Gold News

Market Analysi

Gold prices pulled back slightly on Tuesday from their recent all-time highs after figures showed US inflation at higher-than-expected levels in February, prompting questions over any interest rate cuts.

Prices eased as low as $2,153 an ounce during the day Tuesday, compared with around $2,182 an ounce in late deals on Monday.


 

KAU price $/g – from Kinesis Exchange

US core inflation figures, which strip out volatile items such as energy and food, were released Tuesday. The figures came in at 0.4% in February compared with January, higher than the market’s expected 0.3%. And on a year-on-year basis, February came in at 3.8%, slightly above market expectations of 3.7%.

Higher than expected inflation suggests greater pressure on the US Fed to maintain higher interest rates for longer, weighing on non-yield-bearing assets like gold.

The US dollar also increased against other major currencies on Tuesday, weighing on dollar-denominated gold prices, while US 10-year Treasury yields also rebounded, adding further to the selling pressure on gold.

The pullback in prices follows all-time highs for gold, which briefly hit $2,195 an ounce on Friday as the markets bet on rate cuts materialising as soon as June, with additional support coming from recent central bank buying and safe-haven flows amid current heightened geopolitical tensions.

Elsewhere, the markets will be looking ahead to Thursday for the release of US producer prices for February as well as monthly retail sales, providing a further update on the state of the US economy.

Time to Buy Gold and Silver

Tim Moseley

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Wen 300 SOL Price? On-Chain Data Shows Solana On The Cusp Of Hitting A New All-Time High This Month

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Wen $300 SOL Price? On-Chain Data Shows Solana On The Cusp Of Hitting A New All-Time High This Month

By Olivia Brooke – March 13, 2024

Solana is one of the leading altcoins experiencing a major upward correction. Expectations for Solana have mostly been bullish as the year kicked off positively for the asset. More recently, market data has outlined the near-term potential for SOL.

Data from on-chain analytics firm Santiment has depicted a continuous upsurge in SOL's value. With market cap, trading volume, and monthly gains tapping new levels, SOL is on the verge of hitting a new yearly price high.

The bullish rally is poised to be fueled by positive sentiments from market players. Although FOMO has historically tampered with asset prices, this might not be the case for SOL. Collective doubt might help sustain a long-term rally and potentially send SOL to $300.

Solana SPL meme coins might be behind SOL's recent price upswing

The price prediction comes after reports from Bloomberg revealed that Pantera Capital's asset manager is gearing up to buy a whopping $250 million worth of SOL tokens from the FTX estate. It bears mentioning that Pantera Capital currently holds an estimated 10% of the $5.9 billion SOL tokens under the possession of the FTX estate.

As such, the price of SOL might not be swayed by the asset managers' move in the long term. However, other fundamental factors might affect SOL's performance in the future.

Meanwhile, SOL has increased by more than 23% in the last 7 days, bringing monthly gains to 42.82% at report time. SOL, the fifth largest cryptocurrency by market cap, is amongst the best-performing altcoins in the top category.

Factors influencing SOL's price upswing are mostly fundamental. Several celebrity-focused Solana SPL meme coins gained traction on March 6th, with impressive trading volume and performance.

While the Solana community members are still sceptical about these meme coins, some of these assets have functional use cases in the Solana ecosystem. Jupiter (JUP) is amongst the list of these meme coins with associated applications. The meme coin has soared by nearly 30% within the last three days.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Olivia Brooke and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Get secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

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El Salvador’s Bitcoin Investment Has Netted 85 Million In Profits Thanks To BTC Price Record Highs

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El Salvador’s Bitcoin Investment Has Netted $85 Million In Profits Thanks To BTC Price Record Highs

By Brenda Ngari – March 12, 2024

Salvadoran President Nayib Bukele’s decision to purchase Bitcoin (BTC), the world’s oldest and largest cryptocurrency, has certainly paid off. BTC’s latest rally to new all-time highs has thrust the Central American nation’s BTC portfolio into the black by $85 million, data indicates.

BTC Profits Hit $85 Million

Bitcoin was first adopted as legal tender in El Salvador in 2021, and since then, the country’s stockpile has gone from crypto winter rags to record riches. Since President Nayib Bukele announced that his government would start buying 1 BTC per day, it has accumulated roughly 2,861 BTC — according to the NayibTracker website — acquired at an average cost of $42,600. At Bitcoin’s new all-time high of $72,710 on March 11, this was worth over $207 million. He spent over $122 million on the cryptocurrency, meaning he’s up over $85 million.

El Salvador’s embrace of the benchmark cryptocurrency has proved contentious both at home and abroad, with the passing of the historic “Bitcoin Law” welcomed by protests, while everyone from university professors to the World Bank and U.S. lawmakers slagging off Bukele’s “careless gamble.”

However, the pro-Bitcoin president, who in February was reelected in a landslide presidential election victory — has been unfazed by the criticism, forging ahead with the tiny Latin American nation’s plans for a Bitcoin City — a tax-free city powered by a volcano and financed by BTC-backed bonds.

Bukele indicated in a March 12 post that El Salvador is accruing even more BTC in the form of revenue from other avenues. This entails revenue from the “freedom visa” passport program, which converts Bitcoin to United States dollars for local businesses, BTC mining, and revenue from government services.

El Salvador announced the visa program in December, offering foreigners a passport and residency if they invest $1 million in Bitcoin or Tether’s USDT. Months before that, in October, the nation launched its first local BTC mining pool in collaboration with Volcano Energy and Luxor Technology.

Venture capitalist Tim Draper recently suggested that El Salvador will be able to fully pay off its IMF debt if Bitcoin hits $100,000 and thereafter become financially independent.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

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Gold Price News: Gold Closes in on 2200 an Ounce Level

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Gold Price News: Gold Closes in on $2,200 an Ounce Level

Gold prices extended their recent gains on Friday to cap a particularly bullish week in which prices notched up fresh all-time highs.

Prices rallied as high as $2,195 an ounce on Friday, although prices eased back to trade at around $2,180 an ounce later in the day. That compares with around $2,160 an ounce in late deals on Thursday.

Gold hits all-time high – KAU price $/g – from Kinesis Exchange

US unemployment figures released Friday came in at 3.9%, well above market expectations of 3.7%, and this contributed towards expectations that the US Fed will need to cut interest rates in the coming months – a supportive element for precious metals prices.

This followed US Fed Chair Jerome Powell’s comments on Wednesday and Thursday highlighting that US interest rates have likely peaked and that cuts are on the horizon, albeit that the central bank will need to see greater evidence that inflation levels are moving toward the targeted 2% before adjusting rates.

US non-farm payrolls figures released Friday showed a larger than expected increase in jobs in February. This would normally be expected to put downward pressure on gold prices as a safe-haven asset. However, the gold market shrugged off the latest figures, as bullish momentum continued as the markets bet on a more dovish monetary policy emerging from the US Fed before the summer.

In addition, the US dollar continued to slide against other major currencies through the week, providing a lift for dollar-denominated gold.

Looking ahead, Monday is looking light on significant data releases and the markets will be looking ahead to Tuesday’s US monthly inflation figures for further insight into the future path for monetary policy.

Time to Buy Gold and Silver

Tim Moseley

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Global Cryptocurrency Market Valuation Nears 3 Trillion

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Global Cryptocurrency Market Valuation Nears $3 Trillion

By Brenda Ngari – March 11, 2024

The cryptocurrency market is recovering, now reflected in its overall market capitalization. As Bitcoin and other altcoins soar in price, the collective growth has been reflected in the market’s total value, which has now surpassed $2.7 trillion.

The year has unravelled bullishly for crypto assets as demand for Bitcoin grows with the adoption of Spot Bitcoin ETFs. In addition, alternative digital assets are also experiencing a bullish rally as price value and trading volume soared to unprecedented levels.

Over the past weeks, the leading cryptocurrencies have also recorded notable increases in market capitalization. As a result, the global crypto market cap has reclaimed levels that were last seen two years ago.

The bullish performance strengthened sentiments among market players who were convinced that the market had fully recovered. It also fuels speculation that 2024 might kickstart a long-term rally for the overall crypto market.

Increased ETF demand amongst factors boosting market cap value

At report time, the global cryptocurrency market is worth $2.72 trillion, a 3.88% increase from its 24-hour high. The newly attained milestone also marks a 140.22% increase in market value over the past year. The global market cap value measures the market value of all cryptocurrencies, and with Bitcoin being the most valued asset, its $1.4 trillion market cap currently represents a Bitcoin dominance of 50.45%.

The increase in ETF demand is fueling the upsurge in collective market cap. Historically, increased demand for ETFs has driven asset market cap value to new levels, and the current market run is no exception.

However, market volatility could affect market value in the long term. Historically, bear trends have triggered a downward trend and resulted in a decline in collective market cap.

At report time, both altcoins and Bitcoin are securing significant gains while clearing off losses from the previous year.

As the week kicks off, Bitcoin is trading at $72,214 while the broader altcoin market makes a recovery. Leading altcoins Ether BNB and SOL are recording an increase in daily gains. Sentiments amongst key players are still largely positive, with some analysts hinting at an extended rally into the coming week.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Get secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

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Bitcoin Breaks Past 71000 For First Time Ever Overtaking Silver’s Market Cap

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Bitcoin Breaks Past $71,000 For First Time Ever, Overtaking Silver’s Market Cap

By Brenda Ngari – March 11, 2024

Bitcoin has registered a significant milestone, eclipsing the market capitalization of silver as it topped $71,000 for the first time ever.

The world’s largest and oldest crypto has been on a steady uptrend since the landmark approval of the spot BTC exchange-traded funds (ETFs) in the US. BTC jumped past the $70,000 threshold for the first time in history on March 8. The Bitcoin price hit a high above $70K then, followed by a swift correction to the mid-$68,000 zone. Days later, BTC has burst above $71K, logging a fresh all-time high.

Bitcoin Breaches $71,000

Bitcoin was trading for $71,733 at press time, a 2.9% jump over the last 24 hours. According to CoinGecko data, the alpha crypto has gained roughly 10.4% over the past week and 53.1% during the last month.

Following the new record high, Bitcoin has become the eighth-largest asset in the world after its market capitalization surpassed the $1.383 trillion market cap of silver, the second-biggest precious metal in the world.

Bitcoin boasts a market value of $1.409 trillion, trailing behind Microsoft, Apple, Nvidia, Saudi Aramco, Amazon, and Google parent company Alphabet. Gold has long held the top spot with its $14.685 trillion market cap.

The bullish BTC rally comes on the back of a very successful week for spot ETFs. As per data from BitMEX Research, these products witnessed more than $2.2 billion in inflows last week. As of last Friday, BlackRock’s IBIT spot ETF had amassed approximately $13.6 billion in assets under management.

Since their debut, the ETFs have absorbed 4.06% of the current Bitcoin supply, as observed by Dune. At this rate, ETFs are projected to suck up 8.65% of the BTC supply annually.

Another factor boosting the price of Bitcoin is the approaching halving event, in which the amount of BTC given as a reward to Bitcoin miners for processing new blocks on the network will be slashed in half. This April halving will see the reward lowered to 2.125 BTC from 6.25 BTC, subsequently reducing the amount of Bitcoin issued every day by circa 900 BTC, worth roughly $73 million.

Meanwhile, other major cryptos, including ether (ETH), have also seen substantial gains, with the second-largest jumping above the $4,000 milestone. Ether has some bullish news of its own as a catalyst this week. In just two days, the Dencun upgrade will go live. Dencun is expected to dramatically enhance network scalability and reduce transaction fees for Layer 2 blockchains.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

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Here Are The Most Bullish Bitcoin Predictions For 2024

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Here Are The Most Bullish Bitcoin Predictions For 2024

By Olivia Brooke – March 10, 2024

The most valued cryptocurrency by market capitalization has maintained its position above $60,000 for over ten days. With a continued increase in price value, market participants are making bold long-term and short-term predictions for the asset. The bullish sentiments are mostly backed by a handful of fundamental factors that key players expect to drive prices to new highs.

Making a bullish price forecast, on-chain analyst Willy Woo is convinced that Bitcoin can go above $100,000 within the next 22 months. As such, Woo expects Bitcoin to maintain stability above its current levels for the rest of 2024.

He cites BlackRock and Fidelity as factors that could propel this price upswing.

As he explained in a post shared with X, formerly Twitter,

“BTC price will go past $125k minimum before the end of 2025 just from Blackrock and Fidelity clients if they rotate 3% exposure to Bitcoin. These are their most optimistic portfolio allocation recommendations: Blackrock ($9.1T): 84.9% and Fidelity ($4.2T): 3%.”

Responding in affirmation to comments from an X user, who insisted that the prediction was rather conservative, the on-chain analyst noted that the prediction was modest as it is only $13.3 trillion of the $500 trillion global wealth.

Peter Brandt increases his Bitcoin price prediction to $200,000

Bernstein analysts recently made another bold price prediction led by Gautam Chhugani. The analysts observed that Bitcoin is on an 18-month path to $150,000. They credited the price upsurge to the unprecedented institutional adoption.

Peter Brandt, the CEO of global trading firm Factor LLC, has recently emerged as one of the most bullish crypto proponents.

The veteran crypto trader made an even more bullish prediction after Bitcoin surpassed $57,000, following the approval of 11 Bitcoin Spot ETFs. Brandt raised his initial price prediction by $80,000.

"With the thrust above the upper boundary of the 15-month channel, the target for the current bull market cycle scheduled to end in Aug/Sep 2025 is being raised from $120,000 to $200,000 … A close below last week’s low will nullify this interpretation.” Peter Brandt wrote.

As demand for ETFs intensifies, market players firmly hold on to their bullish take. The upcoming halving scheduled for April is another factor that could boost price value.

Bitcoin was trading for $69,385 at this time while the market continued in an upward direction. Analysts are calling $80,000 a near-term price point for Bitcoin.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Olivia Brooke and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

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Gold Price Forecast – March 2024

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Gold Price Forecast – March 2024

Key Takeaways

The gold price is still trading above $2,000 an ounce despite a challenging scenario.

The demand for gold from jewellery, the industrial sector and central banks remains strong.

The price of gold could find a new positive impulse above $2,070, while a decline below $1,980 would denote weakness.

Gold Forecast for March

Despite a challenging environment, gold is still trading above the $2,000 an ounce mark. What are the main market drivers for gold to monitor in March, and what could we expect from the price of gold in the next few weeks?

Let us explore the scenario, starting with a brief macroeconomic analysis.

Gold and macroeconomic scenarios

In February, the US Dollar remained strong, while bond yields extended the rebound that started in the first weeks of the year. The latest inflation data released in the United States was hotter than expected (3.1% vs forecasts of 2.9%), indicating a prolonged journey towards the Federal Reserve’s 2% target. This situation has reduced the pressure on the Fed to cut rates from the current record level of 5.50%. Investors are now fairly convinced that any reduction in borrowing costs won’t commence until at least the May meeting, possibly even June.

This persistent hawkish stance has not dampened enthusiasm for equities, while Bitcoin has returned above $50,000.

In this context, gold found itself in a less favourable position, with alternative assets temporarily diverting investor interest away from precious metals. Despite this, gold exhibited little volatility. The only significant decline was triggered by the release of the US inflation at higher-than-expected levels – but gold demonstrated resilience, quickly recovering to surpass the $2,000 mark.

Gold Market Drivers

The timing of the next moves from central banks remains the key market driver for gold. Any news of sooner-than-expected rate cuts could lift up bullion prices, while further hawkish rhetoric could be a bearish catalyst for gold. Also, the geopolitical situation needs to be monitored carefully, with the demand of gold as a safe haven investment that could increase in case of escalation of tensions in the Middle East. As we will analyze later, the physical demand of gold remains strong, supporting the market.

Gold Technical Analysis

In the first six weeks of 2024, bullion oscillated in a tiny lateral trading range between $2,000 and $2,060. The dip following the US inflation data was quickly absorbed, confirming the solidity of the market.

From a technical perspective, a clear surpass of the resistance levels of $2,070-2,080 could pave the way for further gains, with the next target on the record high around $2,130. Should bearish impulses take hold, the first support levels are placed at $1,980, aligning with February’s low, and $1,930, at the bottom reached in November 2023. For now, the low of last October at $1,810 seems a distant threshold.

Gold demand

In a recent report, the World Gold Council highlighted that “2023 was marked by surprising resilience in jewellery and technology demand”, adding that it “considers it likely that last year’s levels will be repeated in 2024”.

Moreover, “central bank buying maintained a breakneck pace, with annual net purchases of 1,037 tonnes, almost match[ing] the 2022 record”. The robust demand from the jewellery and technology sectors and central bank acquisitions have compensated for the outflows experienced in the ETF sector. This trend will likely continue in March and the next few months, with central banks remaining active buyers while the demand from passive funds remains weak.

Carlo is an external market analyst for Kinesis Money. With a credential background in Economic Finance and International Exchange (MA), Carlo’s critical analysis of gold and silver markets’ performance is frequently quoted by leading publications such as Forbes, Reuters, CNBC, and Nasdaq.

Time to Buy Gold and Silver

Tim Moseley

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Cardano May Have Just Ignited Game-On Face For 10 ADA Price’ In This Super Cycle

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Cardano May Have Just Ignited Game-On Face For ‘$10 ADA Price’ In This Super Cycle

By Brian Njuguna – March 9, 2024

As positive crowd sentiment engulfs the crypto market after Bitcoin breached the all-time high (ATH) price of $69,000, Cardano (ADA) seeks to ride on this wave by mimicking its last bull run.

Taking on X, formerly Twitter, leading market analyst Ali Martinez pointed out that if this historical pattern saw the light of day, ADA could surge to the $10 price level.

Martinez noted, “Cardano seems to be mirroring its previous bullish cycle. If this pattern continues, we could witness a brief correction before ADA goes parabolic toward $10.”


Source: Ali Martinez

Cardano hit $3 during the last cycle after surging by more than 3,200%. Therefore, if ADA follows in these footsteps, Martinez believes the $10 price threshold will be in the offing as the eighth-largest cryptocurrency will have soared by more than 2,000%.

Since Cardano has broken out of a cup & handle formation that came to light in June 2022, ADA is likely to smash the $3 price level this cycle.

Cardano Experiences Heightened Network Activity

Based on CoinGecko data, Cardano has already recorded a 47.5% monthly surge, and increased network activity has played an instrumental role in this uptrend.

Specifically, ADA has been depicting strong network engagement and increased investor interest thanks to rising transaction volume and active daily addresses.

Cardano was hovering around the $0.7 level at press time, according to CoinGecko.

Top crypto analyst Dan Garmbadello recently echoed Martinez’s sentiments that Cardano was eyeing a parabolic movement since it had broken out of a major structure.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Original article posted on the Zycrypto.com site, by Brian Njuguna.

Article re-posted on Markethive by Jeffrey Sloe

** Get secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

The Artist that came out of the Winter