According to Finbold, MicroStrategy (NASDAQ: MSTR) has recently expanded its Bitcoin (BTC) holdings by purchasing an additional 27,200 BTC for approximately $2.03 billion, bringing its total to 279,420 BTC. This move aligns with the company's strategy to transform into a Bitcoin bank, offering various financial products. However, independent analyst Gert van Lagen has raised concerns about the sustainability of this approach, particularly in the event of a recession. Lagen suggests that an economic downturn could force MicroStrategy to sell its Bitcoin holdings, potentially impacting both the company and the broader cryptocurrency market. He warns that holding such a large amount of Bitcoin is unsustainable for a company of MicroStrategy's size and could lead to liquidation if economic conditions worsen.
- 0 replies
- 0 recasts
- 0 reactions
According to PANews, the Federal Reserve announced a 25 basis point interest rate cut this week, lowering the federal funds rate target range to 4.5%-4.75%. All 12 voting members of the Federal Open Market Committee (FOMC) supported the rate cut. The policy statement omitted previous references to progress on inflation and increased confidence in achieving targets, instead highlighting the dual risks of employment and inflation.
- 0 replies
- 0 recasts
- 0 reactions
According to Odaily, the cryptocurrency Solana (SOL) has experienced a significant price increase, surpassing the 205 USDT mark. As of the latest update, SOL is trading at 204.65 USDT, marking a 24-hour increase of 9.41%.
- 0 replies
- 0 recasts
- 0 reactions