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- Microsoft Rejects Bitcoin!
Welcome back to the Daily Coinsauce Newsletter! Let’s dive into today’s updates—there’s a lot to unpack!
💧Top headlines from the last 24 hours:
• Microsoft said 'NO' to buying Bitcoin.
• Mara acquires another $1.1 billion worth of Bitcoin
📕Educational :
• Leverage in Bitcoin is easing.
Lets dive in.
📅 Today
Microsoft Rejects Bitcoin!
Microsoft shareholders reject the proposal for a strategic Bitcoin reserve.
The company has rejected the proposal to evaluate the potential benefits of adding Bitcoin to its corporate balance sheet, despite meetings and lobbying from Bitcoin advocate Michael Saylor,
Michael Saylor’s presentation emphasized that Bitcoin’s market value may grow from $2 trillion to more than $200 trillion over the next 21 years, claiming that Bitcoin had outperformed Microsoft shares by a ratio of 10.
Microstrategy’s co-founder reportedly offered to drop the suggestion if Microsoft CEO Satya Nadella agreed to a private meeting, but the business declined.
Mara On The Bitcoin Standard!
BTC Mining Firm Marathon Digital (MARA) disclosed in a recent SEC filing that it had acquired 11,774 BTC for a total of $1.1 billion.
They utilized proceeds from their zero-coupon convertible notes offerings to fund the purchase.
The acquisition was made at an average cost of $96,000 per BTC. MARA has reported a quarter-to-date (QTD) BTC yield of 12.3% and a year-to-date (YTD) yield of 47.6%.
With this latest purchase, the company’s total Bitcoin holdings have reached 40,435 BTC, valued at approximately $3.9 billion based on the current market price
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🌎 Other News
📕 Educational
Leverage in Bitcoin market is easing.
BTC-USDT futures open interest is down 7% from its peak, while exchange-held USDT balances have surged 32% in a month.
If the deposited $USDT is for futures trading, more USDT collateral reduces cascade liquidation risk.
The recent dip in altcoins also reset funding rates, which is bullish for the market as leveraged players are wiped off.
As we’ve mentioned many times before, such flash crashes can be great buying opportunities in spot, with a 3-5 month holding period.
Credits : Ki Young Ju
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That concludes our update for today!
We appreciate you joining us for the latest news. We aim to provide the best-in-class insights and highlights that keep you well-informed and ready.
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Disclaimer: None of the content shared in the newsletter is financial advice. Always do your own research and analysis before investing.
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