In the year 2024, several publicly listed and private companies have launched their crypto-buying strategy and special favoritism for Bitcoin buying has been seen.
According to data from TradingView, the stock of the Blockchain Group saw staggering growth after it announced its intent to begin its Bitcoin accumulation in November.
In a most recent development, the company has acquired another 580 Bitcoins to its portfolio, and now it holds 620 BTC valued at $54133423.
The company has opted for BTC yield and BTC gain as primary indicators and on the other hand, its yield since the year is 709.8%.
Why are experts linking Bitcoin prices with Trump’s victory?
With the historic victory of Donald Trump in the presidential elections, the price of Bitcoin saw a staggering growth helping it to cross the mark of $100k and further acquiring the all-time high of $109k.
Experts say that the spike in the price of BTC after his victory came as, in almost all his rallies, Trump portrayed him as a pro-crypto leader who might open new paths for digital currencies.
It is speculated that in the near future, Bitcoin is expected to reach above $109k as its adoption at several levels has grown usage prices and market are some major factors that could drive the price to new heights.
It has also been reported that the stock of GameStop fell in the recent session after it announced to raise $1.3 billion to buy Bitcoin, the funds will be raised by offering senior convertible notes.
The decline in the prices was seen after it grew more than 12% in the trading sessions day after yesterday. At the beginning of this year, it was reported that GameStop had got an offer from a traditional company to leverage its funds to bet in cryptocurrencies, especially Bitcoin.
There are several companies similar to The Blockchain Company that began their Bitcoin buying when it was 48% less than the current trading prices; major holders include Strategy ( earlier MicroStrategy), which holds the highest Bitcoin, followed by Marathon Digital, Riot Platforms, and a few others.
It is crucial to note that Metaplanet, an investment firm based in Japan, has boosted its pace of buying Bitcoin and currently holds over 3,200 BTC, and the aim is to boost it to 10k by 2025 end and 21,000 BTC by 2026.
The aim to hold 1% of the Bitcoin total supply of Bitcoin by 2026 of Metaplanet is largely appreciated, and the appreciation has been seen in the trading prices of the company’s stock.
When writing, Metaplanet stock was trading at 4,795 JPY, up 371.95% in the year-to-date time frame, and the prices are up by 34.13%. The market capitalization of the company is 212.17 billion, and the average trading volume of the stock is 5.40 million.
