Why Bitcoin, Ethereum, and Dogecoin Jumped Today
Bitcoin (CRYPTO: BTC) is climbing again on Monday after MicroStrategy continued its massive buying spree. This time, the company announced another 1,070 Bitcoin acquired over the past week and said it will be raising another $2 billion to buy even more.
Investors have been pouring back into higher-risk assets like cryptocurrencies and growth stocks to start trading in 2025 and that continued today. As of 4 p.m. ET, over the past 24 hours, Bitcoin is up 4%, Ethereum (CRYPTO: ETH) has climbed a more modest 1.1%, and Dogecoin (CRYPTO: DOGE) is up 1.4%.
MicroStrategy has been implementing what it refers to as a Bitcoin yield strategy, which involves issuing stock and debt in order to buy Bitcoin. If the value of MicroStrategy’s stock is in excess of the value of Bitcoin held on the balance sheet the company can issue stock to buy Bitcoin, increasing the amount of Bitcoin held per share. This is what it calls “yield.”
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