MicroStrategy, led by Saylor, has been actively acquiring Bitcoin, with a recent purchase of 14,000 more bitcoin. This move has driven up the price of Bitcoin and MicroStrategy's shares. The company has used bond offerings and issuing more MSTR shares to fund these purchases. Meanwhile, Cathie Wood's ARK Invest has shifted its holdings to the ProShares Bitcoin Strategy ETF from Grayscale's GBTC, in anticipation of Bitcoin ETF approval.
ARK Invest and 21Shares Updated Bitcoin ETF Application in Compliance with SEC’s Request https://t.co/gLHzIvZS9n
.@CathieDWood explains the decision ARK Invest has made to pivot away from GBTC, and toward the ProShares Bitcoin Strategy ETF (BITO). https://t.co/A7nTyOrAOi
Cathie Wood’s ARK invests in ProShares Bitcoin Strategy ETF after exiting GBTC: CNBC Crypto World https://t.co/sW4KZNgMP2
Cathie Wood goes big into ProShares Bitcoin, dumps Grayscale https://t.co/xHlM1mBj5q via @business
Cathie Wood’s ARK Revamps Crypto-Related Holdings Ahead of Bitcoin ETF Approval Decision https://t.co/IgR54rxGMX
$BITO (-1.6% pre) Cathie Wood Goes Big Into ProShares Bitcoin, Dumps Grayscale $GBTC - BBG https://t.co/aPgLBHjRVX
Bitcoin Rises as the Countdown to ETF Approval Is On https://t.co/CE1GFMamYU
One of Cathie Wood’s exchange-traded funds executes a massive shake-up in its Bitcoin-related holdings as the cryptocurrency rounds out a blockbuster year https://t.co/C9wTcHn1S0
Saylor initially started Bond offerings to buy BTC when interest rates were ~0% - He's since taken a play from Abracadabra MiM by issuing more MSTR shares to buy BTC which then drives the price of BTC up which also drives the price of MSTR up which allows him to sell more shares.
MicroStrategy Expands Bitcoin Portfolio as Bitcoin ETF Approval Expectations Rise https://t.co/OIqRS9Od7W
Stars are aligned for bitcoin in 2024: A supply cut and potential ETF demand could lead to record highs https://t.co/7FTLKoRzKl
NEWS: Saylor’s Christmas shopping continues with MicroStrategy loading up on 14,000 more bitcoin https://t.co/QUExpR3my6
Microstrategy up pre-market on announcement of Bitcoin purchase, because the purchase drove Bitcoin up enough to mark previous purchases higher This is important because equity/debt investors are now forced into Saylor’s vision Scale invariance is now pre-ordained