Bitcoin rises after MicroStrategy announces plan to sell more shares

CryptopolitanDec 26, 2024 7:24 AM

View all comments（0）



On Thursday, Bitcoin rose as MicroStrategy announced it plans to sell more of its shares to amass new funds and spend more on digital currency.

According to a recent Bloomberg report, the world’s largest cryptocurrency was up 0.32% to $98,747 at 11:30 in Singapore, with an initial intraday peak of $99,876.70.

Like Dogecoin, Ether and other popular coins such as Solana saw an increase of 0.2 percent after a dive on Wednesday.

Anticipation of MicroStrategy’s next round of Bitcoin purchases is increasing the price

The company’s move may further fuel crypto sentiment if it indicates the firm’s continuing push to accumulate Bitcoin. Trading director Sean McNulty at Arbelos Markets said this newfound optimism is largely a product of the anticipation of the company’s next round of Bitcoin purchases.

“The market is being forward-looking about MicroStrategy’s Bitcoin buys, and that’s been the single biggest reason for the market to go up. Watching MicroStrategy news is becoming a big part of my day,” he said.

Bitcoin rises after MicroStrategy announces plan to sell more shares

Source: Bloomberg

December 23rd filing with the U.S. Securities and Exchange Commission revealed that MicroStrategy seeks to increase the number of authorized shares of Class A common stock and preferred stock.

Once the company gets approval, it will be granted the freedom to issue more shares, allowing it to raise funds and use them to strengthen its already very large Bitcoin holdings.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Nvidia Stock Price Forecast: Jensen Huang Personally Responds to Market Doubts, Can Nvidia Stock Price Still Rise in the Second Half of 2026?

TradingKey - As of July 16 Eastern Time, Nvidia (NVDA) shares closed at $207.4, down 2.4% for the day. Although Nvidia’s stock price has undergone a correction since June, it stabilized and rebounded in July, posting a cumulative monthly gain of 3.65%. This indicates that the market continues to support Nvidia's long-term AI growth logic.

Electric Vehicle Market Enters Trillion-Dollar Era, Is Tesla or Rivian More Worthy of Long-Term Investment?

TradingKey - The global new energy vehicle industry is still in a phase of rapid expansion. However, for investors, industry growth does not mean all electric vehicle companies will emerge as winners. Between these two representative EV companies, Tesla (TSLA) and Rivian (RIVN), which stock is better suited for long-term holding?

ASML Stock Price Forecast: What Is the 2026 Stock Price Trend? How High Will It Rise by 2030?

Driven by the AI wave and robust demand for HBM capacity expansion, ASML saw its share price surge in the first half of 2026, prompting Wall Street investment banks to collectively raise their price targets. While high valuations may lead to short-term fluctuations between $1,700 and $2,000, the stock is highly likely to stabilize above the $2,000 mark by year-end. In the long term, bolstered by its absolute monopoly in equipment, the share price is projected to surpass $3,000 by 2030.

AMD Stock Down 17% From Peak — Can July 22 Advancing AI Save It?

TradingKey - AMD ended the week at $486, down 17% from its June high. The trendline broke. RSI hit 29. But KeyBanc raised to $725, BofA to $620, and July 22 Advancing AI brings Zen 6 Venice and the MI455X roadmap. Here is the setup for the week ahead.

SpaceX IPO Makes History, But Breaks Below Offer Price a Month Later, What Should Investors Watch in the Coming Months?

TradingKey - On June 12, 2026, Eastern Time, SpaceX (SPCX) listed on the Nasdaq at $135 per share with a base fundraising size of approximately $75 billion, setting a new global IPO record.

Featured Tools