Summary:
3,000 BTC deposited to Coinbase valued at $206 million.
Bitcoin's price increased by 3.68% recently, now around $68,865.
MicroStrategy stock outperformed Bitcoin with a 101% annualized performance.
U.Today - The popular blockchain tracker Whale Alert has identified a significant cryptocurrency transaction involving the U.S.-based exchange Coinbase. This major transfer comes as the price of Bitcoin, the world’s leading cryptocurrency, has seen a notable increase.
3,000 BTC Deposited to Coinbase
A staggering 3,000 BTC, valued at $205,920,028, has been deposited into Coinbase. This transaction occurred roughly two hours ago. Additionally, Whale Alert reported another transfer of 1,501 BTC (worth $103,243,667) from one anonymous wallet to another.
Since October 25, Bitcoin's price has risen by 3.68%, moving from around $66,500 to $68,865. Over the past day, the cryptocurrency has increased by nearly 2%.
Earlier, Bitcoin experienced a decline of 2.57% following negative news from the Middle East and reports of investigations involving a major player in the market. However, Coinbase’s CEO Paolo Ardoino has dismissed these claims as fake news.
MicroStrategy Outperforms Bitcoin Annually
In a recent tweet, Michael Saylor, the founder of MicroStrategy, shared insights indicating that his company's stock has outperformed Bitcoin over the past four years. MicroStrategy began acquiring BTC in August 2020 with its free cash reserves, adopting a robust Bitcoin strategy. According to Saylor, Bitcoin has surged by 51% annually, outperforming major indices like the S&P 500 (+14%), real estate (+10%), gold (+7%), and bonds (-5%).
Compared to Bitcoin, MicroStrategy (MSTR) has shown an impressive 101% in annualized performance. The company continues to purchase Bitcoin regularly, raising nearly $1 billion from investors to bolster its holdings. This positions MicroStrategy as an unofficial ETF, attracting investors looking to gain exposure to Bitcoin’s potential growth.
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