$BTC Here are the latest developments in the Bitcoin (BTC) market:

Bitcoin (BTC)

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MicroStrategy's Aggressive Bitcoin Acquisition Strategy

MicroStrategy, now rebranded as Strategy, continues its aggressive Bitcoin acquisition strategy under Michael Saylor's leadership. The company holds nearly 500,000 bitcoins, acquired at an average price of $66,000. Recently, Strategy announced a $21 billion offering of convertible perpetual preferred stock, yielding over 9%, intending to purchase more Bitcoin. This approach relies on financial engineering, issuing equity to fund Bitcoin purchases, creating a self-reinforcing cycle that keeps Strategy's stock at a premium to its net asset value. However, the company's legacy business does not generate cash, requiring ongoing financial maneuvers that may dilute existing shareholders. Additionally, Michael Saylor's history of making bold public statements promoting Bitcoin may have regulatory implications. Despite significant share price growth since the pivot to Bitcoin, the company's investment returns lag behind Bitcoin's performance.

FT.COM

Establishment of the U.S. Strategic Bitcoin Reserve

President Donald Trump has issued an executive order to establish a Strategic Bitcoin Reserve and a United States Digital Asset Stockpile. The reserve will be capitalized with all BTC held by the Department of the Treasury obtained through criminal or civil asset forfeiture proceedings. The Secretary of the Treasury is tasked with administering and maintaining control of these custodial accounts. This move aims to position the U.S. as a leader in the digital asset space and ensure strategic management of government-held Bitcoin.

WHITEHOUSE.GOV

Bitcoin's Market Position and Technical Outlook