MicroStrategy, a leading business intelligence and cloud computing company, has announced that it has acquired 16,130 more Bitcoin in the fourth quarter of 2023, worth about $593.3 million at the time of purchase. This brings the company’s total Bitcoin holdings to 181,000, which it claims to be the largest corporate Bitcoin treasury in the world.
The company’s CEO, Michael Saylor, has been a vocal advocate of Bitcoin as a store of value and a hedge against inflation. He has repeatedly stated that he believes Bitcoin is superior to gold and other traditional assets, and that he intends to hold it for the long term. He has also encouraged other companies and institutions to follow his example and adopt Bitcoin as part of their balance sheet strategy.
MicroStrategy’s latest purchase comes amid a bullish market sentiment for Bitcoin, which has surged to new all-time highs in November 2023, reaching over $40,000 per coin. The cryptocurrency has also gained more mainstream recognition and adoption, with several countries, banks, and corporations embracing it as a legal tender, a payment option, or an investment vehicle.
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MicroStrategy’s move is likely to boost the confidence and demand for Bitcoin among other investors and potential adopters, as it demonstrates the company’s commitment and conviction in the future of the digital asset. It also shows that MicroStrategy is not deterred by the volatility and regulatory uncertainty that still surround Bitcoin, and that it is willing to take advantage of the dips and accumulate more coins at lower prices.
The company’s stock price (MSTR) has also benefited from its Bitcoin strategy, as it has outperformed the S&P 500 index by over 300% since it started buying Bitcoin in August 2020. The company has also issued several convertible bonds and senior notes to raise funds for its Bitcoin purchases, indicating that it has a strong cash flow and credit rating.
MicroStrategy’s bold and visionary approach to Bitcoin has earned it the respect and admiration of many in the crypto community, as well as the attention and scrutiny of regulators and critics. The company has faced some legal challenges and investigations from the Securities and Exchange Commission (SEC) and other authorities over its Bitcoin disclosures and accounting practices, but it has maintained its compliance and transparency throughout.
MicroStrategy’s example may inspire more companies and institutions to follow suit and allocate some of their capital to Bitcoin, as they seek to preserve their wealth and enhance their returns in an uncertain and inflationary economic environment. MicroStrategy has proven that Bitcoin is not only a viable but a profitable and strategic asset class for the modern era.
NP-Hard Ventures has secured €12M funding and Tritemius Fund I
NP-Hard Ventures, a venture capital firm focused on investing in deep tech startups, has closed its first fund at €12 million, exceeding its initial target of €10 million. This is a remarkable achievement for our team, who have been working hard to identify and support the most innovative and impactful companies in the fields of artificial intelligence, quantum computing, biotechnology, and more.
Our fund was launched in 2021 with the vision of backing entrepreneurs who are solving some of the most challenging and important problems in the world, using cutting-edge technologies that are often considered NP-hard. NP-hard problems are those that cannot be solved efficiently by any known algorithm, and require a combination of creativity, expertise, and perseverance. We believe that these problems represent huge opportunities for creating value and positive change for society.
We are grateful to our limited partners, who have shown their trust and confidence in our strategy and portfolio. Our investors include leading institutions, family offices, and angel investors from Europe and beyond. With their support, we have been able to invest in 15 startups so far, across various stages and sectors. Some of our portfolio companies include:
Qubitica: A quantum computing platform that enables developers to build and deploy quantum applications in the cloud.
Biofy: A biotechnology company that uses synthetic biology and machine learning to engineer novel enzymes for industrial applications.
Zephyr: A software company that leverages artificial intelligence and natural language processing to automate legal document analysis and contract management.
Tritemius Fund I: A New Seed Fund for Internet 3.0 and Blockchain Startups
Tritemius Fund I, a €50M seed fund will focus on investing in early-stage startups that are building the next generation of internet and blockchain technology.
Internet 3.0 is the vision of a decentralized, open and user-centric web, where users have more control over their data, identity and digital assets. Blockchain technology is one of the key enablers of this vision, as it provides a secure, transparent and trustless infrastructure for peer-to-peer transactions and interactions.
At Tritemius, we believe that internet 3.0 and blockchain technology have the potential to transform various industries and sectors, such as finance, media, gaming, social networking, e-commerce, health care and more. We also believe that Europe is a fertile ground for innovation and talent in this space, and we want to support the best entrepreneurs who are creating impactful solutions for the future of the web.
Our fund will invest in pre-seed and seed-stage startups that are developing innovative products and platforms based on internet 3.0 and blockchain technology. We are looking for teams that have a clear vision, a strong technical expertise, a product-market fit and a scalable business model. We are also looking for startups that share our values of openness, collaboration and social impact.
As investors, we aim to be more than just capital providers. We want to be partners and mentors for our portfolio companies and help them grow and succeed in their journey. We will leverage our network of experts, advisors and industry partners to provide our startups with access to relevant resources, insights and opportunities. We will also foster a community of like-minded founders who can learn from each other and collaborate on common challenges and goals, the company wrote.
If you are a founder or a team working on internet 3.0 or blockchain technology, and you are looking for seed funding and support, we would love to hear from you. Please visit our website to learn more about our fund and our investment criteria, and to submit your application. We look forward to connecting with you soon.