Michael Saylor's Strategy adds $18 million in Bitcoin to its treasury, bringing its total holdings to 628,946 BTC.
Crypto platform Bullish upsizes its IPO to $990 million, indicating strong market confidence and investor interest.
ALT5 Sigma secures $1.5 billion in funding to support World Liberty Financial's treasury strategy, highlighting growing interest in non-Bitcoin digital assets.
Today, several significant developments took place in the cryptocurrency market as institutional players made bold moves. Notable changes include Michael Saylor's approach, Bullish's IPO, and ALT5 Sigma's ambitious fundraising plan. These events highlight the growing institutional interest and the evolving strategies within the industry. Let’s take a look at the latest Crypto news today.
Michael Saylor’s Strategy, known as the world’s largest public holder of Bitcoin, has recently marked the fifth anniversary of its Bitcoin treasury strategy. To celebrate this milestone, the company added $18 million in Bitcoin, acquiring 155 BTC at an average price of $116,401 per coin. This acquisition raises Strategy’s total Bitcoin holdings to 628,946 BTC, purchased at an average cost of $73,288 per coin.
The most recent acquisition was made as the price of Bitcoin approached record levels, with the company buying it at the beginning of the week at $114,000 and rising to around $122,000. Since its first Bitcoin purchase in August 2020, Strategy has seen the value of Bitcoin skyrocket by 960%, reinforcing its success.
With market fluctuations, the company intends to commit to its Bitcoin accumulation strategy, with Saylor stating that further purchases will generate long-term profitability.
In addition to major development, Bullish, a crypto platform backed by tech billionaire Peter Thiel, recently revised its initial public offering (IPO) goals, increasing the offering size to 30 million shares from the previously planned 20.3 million. The company also raised the price range for shares, now targeting $32 to $33 per share. At this new price, Bullish targets to raise up to $990 million.
This upsizing signifies an essential change in Bullish's fundraising mode. Initially, the company was optimistic that it would gain approximately $629 million, but the new numbers indicate the high confidence of the markets and the growth of investor interest. The company has also planned another 30-day option where the underwriters will be able to purchase up to 4.5 million more shares. This targeting of an improved IPO is an indicator of a strong push to establish its position further in the competitive crypto market.
Meanwhile, crypto firm ALT5 Sigma, which specializes in supporting World Liberty Financial (WLFI) tokens, is planning a direct stock offering of $1.5 billion. This action will finance WLFI's corporate treasury, which indicates increased interest in non-bitcoin firm treasuries. The corporation intends to sell 200 million shares, half of which will be sold as a registered direct sale and the other half as a private placement.
The trend of developing corporate treasuries based on the altcoin is gaining momentum. The rise of digital assets other than Bitcoin is also evidenced by the efforts of ALT5 Sigma, with Ethereum and Solana also having attracted the interest of institutional investors. The move to hold altcoins is part of a broader trend in the crypto industry, in which companies are diversifying their treasury strategies to take advantage of potential growth in other blockchain ecosystems.
Also Read: Bitcoin News Today: Analysts Predict $150K by Year-End with Strong Institutional Interest