2024 Bitcoin Treasury Race: MicroStrategy, Brazil, and Asia Lead
MicroStrategy Acquires Additional $1.5 Billion in Bitcoin, Boosting Total Holdings to 400,000 BTC
MicroStrategy announced acquiring 15,400 BTC for $1.5 billion at an average price of $95,976 per Bitcoin, raising its total holdings to 402,100 BTC, worth approximately $39 billion. Since August 2020, the company has invested $23.4 billion in Bitcoin at an average acquisition price of $58,263 per BTC. This strategy, led by Executive Chairman Michael Saylor, has significantly boosted MicroStrategy's stock, from under $15 to $389 per share, outperforming most S&P 500 firms. Saylor advocates Bitcoin as a superior store of value and has positioned MicroStrategy as a Bitcoin-centric development company.
Brazil Proposes National Bitcoin Reserve
Brazilian Congressman Eros Biondini proposed establishing a national bitcoin reserve, aiming for up to 5% of Brazil’s national reserves, mirroring similar U.S. efforts. Meanwhile, on November 29, 2024, the Brazilian central bank proposed banning stablecoin transfers to self-custodial wallets to tighten foreign exchange oversight as the Brazilian real hit record lows, losing 23% against the U.S. dollar in 2024. This ban targets virtual asset service providers, mandating detailed transaction reporting, and aligns with Brazil’s $90 billion crypto inflows, where stablecoins make up 59.8% of crypto transactions, indicating significant reliance on dollar-pegged assets.
Metaplanet Launches Bitcoin Shareholder Program, Offering 30 Million Yen in BTC
Metaplanet, in partnership with SBI VC Trade, has launched a Bitcoin shareholder benefit program offering 30 million yen in Bitcoin to 2,350 shareholders through a lottery system. Fifty shareholders will receive 100,000 yen worth of Bitcoin each. The initiative aims to enhance Bitcoin adoption in Japan by providing the cryptocurrency for free. Throughout 2024, Metaplanet has significantly increased its Bitcoin holdings, amassing a total of 1,142 BTC valued at approximately $110 million, positioning the firm as one of Asia's largest corporate Bitcoin holders.
Sora Ventures Launches $150 Million Fund to Promote Bitcoin Treasury Strategies in Asia
Sora Ventures announced a $150 million fund to replicate MicroStrategy's Bitcoin-centric treasury model in Asia, targeting listed firms in Japan, Hong Kong, and other regions. The fund aims to enhance corporate value via Bitcoin reserves, with success exemplified by Tokyo-listed Metaplanet, whose stock soared over 1,000% in 2024 following adoption. Sora Ventures is expanding to Thailand and Hong Kong, investing in Bitcoin ecosystem projects and promoting educational initiatives to drive Bitcoin adoption. These efforts highlight Sora Ventures’ focus on institutional adoption and broad-based ecosystem development across Asia.
MARA Holdings Announces $700M Note Issuance to Expand Bitcoin Holdings
MARA Holdings announced a $700 million zero-coupon convertible senior notes offering to buy bitcoin and repurchase some existing notes, with an additional $105 million option available for institutional investors. The notes, due 2031, will not accrue interest and can be converted into cash, stock, or both. MARA plans to allocate $50 million to repurchase current convertible notes, with the remainder for bitcoin purchases and corporate purposes. By November, MARA mined 8,563 BTC, acquired 12,965 BTC year-to-date, and held 34,959 BTC valued at $3.3 billion, with a 46.1 EH/s hash rate and a 37.2% BTC yield per share.
This article has been refined and enhanced by ChatGPT.
