Altcoins Surge as Bitcoin Milestones Mark a Historic Week
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Altcoin market surges, led by U.S.-related coins and meme tokens. TOTAL3 index reaches new heights, surpassing March 2024 peak. Investors advised to hold positions. Altcoins Surge as Bitcoin Milestones Mark a Historic Week: Illustration Last week’s Highlights Big News (November 11 – November 17) The Bitcoin Accumulation Bill has crossed a critical milestone, achieving official recognition. Now, it stands on the precipice of history, awaiting its turn for voting in the U.S. legislature. The legislation has the potential to cement Bitcoin’s place at the heart of the global financial system, signalling a seismic shift in the adoption of digital assets. When it comes to Bitcoin, MicroStrategy plays in a league of its own. Latest Acquisition: 27,200 BTC worth $2.03 billion at an average price of $74,463 per Bitcoin. Total Holdings: A jaw-dropping 279,420 BTC, valued at approximately $11.9 billion. Average Cost Basis: A masterstroke at $42,692 per Bitcoin. MicroStrategy has acquired 27,200 BTC for ~$2.03 billion at ~$74,463 per #bitcoin and has achieved BTC Yield of 7.3% QTD and 26.4% YTD. As of 11/10/2024, we hodl 279,420 $BTC acquired for ~$11.9 billion at ~$42,692 per bitcoin. $MSTR https://t.co/uCt8nNUVqd — Michael Saylor⚡️ (@saylor) November 11, 2024 Michael Saylor’s relentless accumulation reaffirms his vision: Bitcoin is the ultimate long-term asset. His action isn’t just a bet; it’s a strategy to dominate the digital financial era. Bitcoin has officially dethroned silver, cementing its position as the 8th largest asset by market capitalization. This milestone doesn’t just affirm Bitcoin’s dominance; it’s a warning shot to traditional markets. The courtroom drama of the decade has begun. FTX has been suing Binance and its former CEO, Changpeng Zhao, for $1.8 billion, alleging their actions hastened FTX’s collapse. At the heart of the lawsuit: The Buyback: FTX repurchased Binance’s shares in 2021 for $1.76 billion, paid in…
Filed under: News - @ November 18, 2024 4:28 am