In the month of May, back in the year of our Lord 2013, a man named Davinci Jeremie, with the fervor of a preacher, implored the good folks to “just buy $1 worth of Bitcoin.” At that time, the digital gold was a mere $100. Those who had the foresight—or perhaps the luck—to heed his words found themselves riding the wild wave of Bitcoin’s ascent, as it soared past the $100,000 mark, leaving many a jaw dropped and wallet fattened. 💰
Now, as the sun rises on a new era, corporations are waking up to the sweet scent of Bitcoin. Michael Saylor’s Strategy, once known as MicroStrategy, has seen its stock price balloon by over 2,200% since it first dipped its toes into the Bitcoin pool. But fear not, dear reader, for one need not hoard 478,000 BTC to taste the fruits of this digital labor. 🍏
Take, for instance, the Hong Kong investment firm HK Asia Holdings, which saw its stock price leap by a staggering 93% after purchasing just one Bitcoin. Not too shabby for a little investment, eh? That’s like finding a dollar in your old coat pocket, only to discover it’s a hundred-dollar bill! 💵
This week’s Crypto Biz newsletter dives into the bustling Bitcoin economy, shining a light on HK Asia’s bold purchase, the ever-expanding realm of Bitcoin mining, and the growing interest from institutions in Strategy. Buckle up, folks! 🚀
HK Asia’s Bitcoin Gambit
On a fateful day, February 13, the good people at HK Asia Holdings decided to acquire one Bitcoin for the princely sum of about $96,150. Just three days later, they revealed their treasure, and lo and behold, their share price shot up by nearly 93%. Talk about a return on investment that would make even the most seasoned gambler blush! 🎲
The stock reached a dizzying peak of 5.50 Hong Kong dollars, or 71 US cents, the highest it had been in four-and-a-half years. The board, in their infinite wisdom, saw the “increasing popularity of cryptocurrencies in the commercial world” and decided to take the plunge. They claimed this purchase was “symbolic in scale,” as if they were planting a flag on the moon. 🌕
HK Asia is not alone in this venture; they join a motley crew of companies across Asia, including the construction firm Ming Shing and Japan’s Metaplanet, who have also taken the Bitcoin plunge. Metaplanet’s shares have skyrocketed by over 3,900% since they made their first Bitcoin purchase. It’s a wild world out there! 🌍
Bitcoin Mining Industry Created 31,000 US Jobs
But wait, there’s more! Bitcoin miners are not just raking in profits; they’re also creating jobs—over 31,000 of them, to be precise. According to a report by the Perryman Group, published by The Digital Chamber and Texas Blockchain Council, the Bitcoin mining industry is a veritable job factory. 🏭
Most of these jobs are clustered in 12 states, with Texas leading the charge, accounting for more than a third of the total. Georgia, North Dakota, and New York are also seeing a noticeable uptick in mining-related hires. It’s like a gold rush, but with computers instead of pickaxes! ⛏️
The report also found that Bitcoin mining activities generated a whopping $4.1 billion in annual GDP, supporting local energy grids like a trusty old mule. These trends are looking good for the Trump administration’s newfound affection for Bitcoin mining. 🐴
12 US States Have Indirect Exposure to Bitcoin
In a twist of fate, twelve US states have reported holding shares of Strategy (MSTR), Michael Saylor’s business intelligence firm turned Bitcoin bank. Retirement funds and treasuries in California, Florida, Wisconsin, and North Carolina are holding the heaviest MSTR bags, according to Bitcoin analyst Julian Fahrer. 👜
For instance, the California State Teachers Retirement System holds 264,713 MSTR shares worth around $76 million. Florida’s State Board of Administration has snagged 160,470 shares worth about $46 million. It’s a veritable treasure trove!
Read More
- EUR JPY PREDICTION
- DF PREDICTION. DF cryptocurrency
- ASTR PREDICTION. ASTR cryptocurrency
- TRB PREDICTION. TRB cryptocurrency
- Doctor Strange’s Shocking Return in Marvel’s Avengers: Doomsday Revealed!
- COW PREDICTION. COW cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- YFI PREDICTION. YFI cryptocurrency
- POL PREDICTION. POL cryptocurrency
- South of Midnight PC Requirements Revealed
2025-02-22 00:44