Key Points
- MicroStrategy’s announcement comes following Michael Saylor’s meeting with Eric Trump.
- Yesterday, BTC neared $99,000, as BTC ETFs recorded significant inflows led by Fidelity’s FBTC.
Yesterday, Bitcoin recorded a significant price surge, nearing $99,000 fueled by new inflows in BTC ETFs and optimistic announcements. January 3rd marked BTC’s 16th anniversary as well, leading to celebrations in the industry.
MicroStrategy Announced Plans to Buy More BTC
On Bitcoin’s birthday, MicroStrategy revealed a bullish announcement: the company plans to raise more money to buy BTC. It announced a capital raise of up to $2 billion of preferred stock in a press release dated January 3.
The announcement is related to the company’s previously announced 21/21 Plan, a capital to raise $21 billion of equity and $21 billion of fixed-income instruments including debt, convertible notes, and preferred stock over the next three years.
The official notes reveal that the perpetual preferred stock may include features such as:
- Convertibility to the class A common stock
- Payment of cash dividends
- Provisions allowing for the redemption of shares
The announcement states that the purpose of this offering is to allow MicroStrategy to continue to strengthen its balance sheet and acquire more Bitcoin.
MicroStrategy notes
Michael Saylor’s Meeting With Eric Trump
This important announcement from MicroStrategy came after Michael Saylor met with Donald Trump’s son, Eric Trump at Mar-a-Lago. Trump’s son marked the event via X, sharing a photo he captioned with the following words: “Two friends, one passion: Bitcoin”.
Michael Saylor and Eric Trump
Saylor also shared the photo via his X account , noting that “Bitcoin is on the menu at Mar-a-Lago.”
These bullish events and announcements came on Bitcoin’s 16th anniversary which marked the Bitcoin Genesis Day – on January 3rd, 2009, Satoshi Nakamoto mined the first Bitcoin Block, making history and offering the world an alternative to oppression.
Yesterday, BTC recorded a price surge, nearing $99,000, fueled by optimism and renewed inflows in BTC ETFs.
Bitcoin ETFs Recorded Over $908 Million in Inflows
Folowing a significant streak of outflows, Bitcoin ETFs recorded a notable inflow day on January 3rd.
The crypto products saw more than $908 million in inflows yesterday, led by Fidelity’s BTC ETF, FBTC, at almost $357 million.
SoSoValue dataBlackRock’s IBIT was next with over $222 million in inflows, following the crypto product’s biggest outflow day on January 2nd at over $332 million. This was IBIT’s most significant outflow day since its inception, as data from SoSoValue shows.
IBIT – SoSoValue dataAs of Januanry 3rd, the total net assets locked in BTC ETFs surpassed $111,4 billion and the cumulative total net flow was near $36 billion.
It is expected that the crypto products will record significant inflows this year, amidst rising institutional interest in Bitcoin and crypto.
BTC Trades Above $97,000
Regarding BTC’s price today, at the moment of writing this article, BTC is trading above $97,000, up by over 3% in the last 24 hours.
BTC price in USD todayBTC’s price continues to hold above $97,000 following yesterday’s price surge from $96,000 levels close to $99,000.
BTC remains surrounded by optimism two weeks ahead of the upcoming Trump administration set to debut on January 20 in the US.
