The board of Acurx Pharmaceuticals approved Wednesday the purchase of up to $1 million in bitcoin to hold as a treasury reserve asset. Shares of the the company were last lower by more than 6% after spiking about 8% in premarket trading."As demand for bitcoin grows, and so does its acceptance as a major and primary asset class, we believe that bitcoin will serve as a strong treasury reserve asset for cash not needed over the next 12 to 18 months" CEO David P. Luci said in a statement."Its limited supply and ...

Key TakeawaysMicroStrategy shares could remain in focus on Tuesday after soaring 13% to a new record high following news the software analytics company had purchased an additional $4.6 billion of bitcoin. Gains in the stock have accelerated since breaking out above a rectangle formation, with share turnover registering its highest level last week since going public in 1998.A bars pattern, which takes the stock’s trend higher from October 2023 to March this year and repositions it from the rectangle formatio ...

Even if you're bullish on Bitcoin, there may not be a compelling reason to invest in MicroStrategy today.To say MicroStrategy (MSTR -0.22%) is a big crypto bull would be a huge understatement. The company has invested heavily in Bitcoin (BTC -2.52%) and has continued to add to its position in recent quarters. MicroStrategy is the largest corporate holder of the digital asset today. But that doesn't mean it is content with the status quo.MicroStrategy recently said it would add even more crypto to its portfo ...

Michael Saylor is a perennial crypto bull.Bitcoin (BTC 3.44%), the world's largest cryptocurrency, has been on a great run this year and has roughly doubled -- well ahead of the bull market and hitting new all-time highs. The token has benefited from the creation of spot Bitcoin exchange-traded funds (ETFs), lower interest rates, and a growing view that the token could be a hedge against inflation.However, Bitcoin may just be getting started, according to MicroStrategy Executive Chaiman and billionaire inve ...

Though many technology and cryptocurrency stocks have achieved massive success in 2024, with MicroStrategy (NASDAQ: MSTR) being a prime example as it is up 420.42% year-to-date (YTD), few have matched the feat accomplished by one nano-cap Bitcoin (BTC) miner.BTC Digital Ltd. (NASDAQ: BTCT) entered an incredible surge during the November 12 session and rallied 316.67% within a single session from its previous closing price of $2.52 to $10.50. At one point on Tuesday, the rally appeared even more remarkable a ...

MIAMI, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Defiance ETFs, a leading provider of thematic and leverage-focused exchange-traded funds, is thrilled to announce that its MSTX ETF (Daily Target 2X Long MSTR ETF) has surpassed $1 Billion in assets under management (AUM). This milestone underscores the strong investor demand and confidence in the product’s innovative approach to offering amplified exposure to MicroStrategy Inc. (MSTR), a company known for its substantial Bitcoin holdings and cutting-edge data analyt ...

MicroStrategy Inc. (NASDAQ: MSTR) has been riding the crypto wave, with its stock price surging alongside Bitcoin’s (BTC) recent all-time highs. Following the acquisition of an additional 27,200 BTC between October 31 and November 10 at an average price of $74,463 per coin, MicroStrategy now holds a substantial 279,420 BTC, valued at approximately $23 billion according to Bitcoin Treasuries.With Bitcoin currently trading around $87,000, this holding has positioned MicroStrategy as the top corporate Bitcoin ...

Analyst’s Disclosure: I/we have a beneficial long position in the shares of MSTR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any i ...

MicroStrategy just announced a bold new plan to buy $42 billion worth of Bitcoin during the next three years.Michael Saylor, founder and executive chairman of MicroStrategy (MSTR 25.73%), is arguably one of the biggest Bitcoin (BTC 6.80%) bulls on the planet. Ever since his company started aggressively buying Bitcoin in August 2020, he has predicted that the price of Bitcoin has nowhere to go but up. He now thinks that Bitcoin could hit a price of $13 million by 2045.At the end of October, he delivered more ...

Michael Saylor: The Bitcoin EvangelistMichael Saylor is the Executive Chairman of MicroStrategy ((MSTR) and has gained recognition within the Bitcoin community for the company’s first-of-its-kind and bold investment in Bitcoin. Saylor has advocated for Bitcoin as “digital gold” and a better alternative to the shiny metal. Presently, it’s challenging to find a more prominent proponent of Bitcoin than Saylor. Since he got MSTR on the “Bitcoin Standard” MSTR has generated billions in profits and made him the i ...