Biggest US Banks Place Quiet Big Bets On Bitcoin’s Largest Corporate Holder MSTR

MSTR Offers Bitcoin Exposure 

It’s possible that U.S. banking and financial giants are aping in on MSTR stock since the company holds Bitcoin, and thus, offers exposure to crypto’s leading coin by market cap. Indeed, Michael Saylor’s MicroStrategy is the largest corporate holder of Bitcoin at press time with over 140,000 BTC worth more than $3 billion at today’s prices. 

Apart from leading the crypto industry as the top coin by market cap, Bitcoin sits on a short list of digital assets not considered an unregistered security by the SEC. 

Analysis and predictions from several stakeholders, including the $700 billion-strong Standard Chartered agree that BTC will leap in value by 2024. This possibly makes BTC an alluring investment for America’s biggest institutions with MSTR offering a regulated way for these banks to hold Bitcoin.

Bitcoin traded around $25,000 on Thursday after falling in price amid a broader crypto market downturn that followed the SEC’s enforcement actions against Binance and Coinbase.

Source: Read Full Article