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Bloomberg Quint

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Image Credit: Bloomberg Quint

Bitcoin Gains On MicroStrategy’s Plans To Issue More Shares

  • Bitcoin rose on Thursday after MicroStrategy announced plans to issue more shares, allowing it to buy more tokens.
  • MicroStrategy Inc. is seeking permission to increase the number of authorized shares, providing more firepower to accumulate Bitcoin.
  • Bitcoin has risen 135% this year, outperforming traditional investments like stocks and gold.
  • Traders caution that markets could become volatile due to large expiries of open interest in Bitcoin and Ether derivatives.

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