updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.
My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.
I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.
When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.
Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.
My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.
Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.
One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.
I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.
I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.
I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.
In a surprising turn of events, Bitcoin critic and $10 trillion asset manager Vanguard has become the largest Strategy shareholder, holding the most MSTR shares. The asset manager had previously described BTC as an immature asset class, but is now the largest backer of Michael Saylor’s Bitcoin treasury company. Vanguard Now Holds The Most MSTR
The post Bitcoin Critic Vanguard Becomes Strategy’s (MSTR) Largest Shareholder appeared first on CoinGape.
]]>A Meta shareholder has submitted a proposal urging the company to assess the potential benefits of incorporating Bitcoin into its treasury. The proposal highlights Bitcoin’s historical growth and its potential as an inflation-resistant asset compared to traditional cash and bonds.
As per the proposal, by the end of the year 2024, that is, by December 30, the price of Bitcoin had increased by 124% in a year which was even better than the average performance of bonds.
In the last five years, the price of Bitcoin has risen by 1,265%, while bonds have been a distant second with an average return difference of 1,245%. Amid this announcement, Bitcoin price has seen a recovery with the price swaying between an intra-day high and low of $95,770 and $92,250, respectively.
The submission also points out that cash and cash equivalents (which account for $72 billion out of $256 billion of Meta’s total assets as of September 30, 2024) are vulnerable to depreciation owing to inflation. It posits that integrating a part of these cash reserves with Bitcoin may be a way of preserving shareholder value even with the known volatility of Bitcoin.
The proposal emphasizes the transition of Bitcoin from an investment or a payment method to a treasury asset for companies and institutions. MicroStrategy, a business that acquired Bitcoin early on, claimed that its equity rose by 17,000% through using BTC in its balance sheeting strategy. Likewise, Square (now Block) was 2.5 times better than the Nasdaq index and 12 times better than Meta’s performance.
Moreover, BlackRock, the second biggest Meta’s institutional investor, has introduced a Bitcoin ETF that turned into the most popular ETF in history. BlackRock has also come out in public stating that 2% of investment in Bitcoin is a good approach towards investing for the future.
The Meta shareholder’s proposal is that an allocation of this kind for Meta’s treasury could demonstrate progressive financial stewardship and be consistent with other leading companies.
According to the proposal, Meta’s leadership and its stakeholders have displayed interest in Bitcoin and its ecosystem. Meta’s founder, Mark Zuckerberg, and its board member Marc Andreessen who is also a member of Coinbase’s board has previously supported blockchain and cryptocurrencies.
The shareholder argues that Meta shareholders should receive treasury management strategies that are similar to the sophisticated financial management strategies that most probably, some of Meta’s directors and executives have used.
The submission also mentions several companies and governments considering Bitcoin or already implementing it in the treasuries. For example, a bill was recently submitted to the New Hampshire legislature, which provides for the ability of the state treasury to hold Bitcoin as a reserve asset together with precious metals such as gold and silver.
In the same way, public firms such as Heritage Distilling Holding Company and Genius Group Ltd have also embraced Bitcoin where Genius Group Ltd for instance purchased $5 million worth of bitcoins as part of its Bitcoin-first strategy.
The proposal calls on Meta’s board to perform an assessment to find out if it would be in the best interest of shareholders to include Bitcoin in Meta’s reserve. Thus, it postulates that as a fiduciary duty, the board should consider investments that can yield a return higher than cash and bonds, even if these investments are associated with higher risks.
Meta has always been known as a technology leader and a pioneer of new approaches to business. The Meta shareholder argues that this will strengthen this reputation by making Meta as one fo the first corporations to embrace Bitcoin. The request is more of a proposition but does not require a particular action, which focuses on the need to evaluate the possibility of using Bitcoin as a strategic asset.
Concurrently, John Deaton, a pro crypto lawyer has pointed out that Microsoft shareholders recently rejected the idea of investing in Bitcoin after a similar motion was made. Deaton further explained that Meta shareholders might find themselves in a similar situation but pointed out that companies that are waiting for future legislation that supports Bitcoin adoption such as the State Bitcoin Reserve (SBR) provisions in the Lummis Bill might view BTC as an acquisition of strategic importance.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Business intelligence firm Microstrategy (MSTR) has been leading by example on how can a company change its fortunes by betting big on Bitcoin. On Wednesday, February 28, the Microstrategy (MSTR) share price registered 10% gains for the second consecutive day closing at $962.95. In the aftermarket hours, the MSTR stock has surged by an additional 2.85% moving closer to $1000.
The massive back-to-back rallies in the MicroStrategy share price comes amid a strong rally in the Bitcoin price which surged all the way to $64,000 on Wednesday. On the weekly chart, the Bitcoin price is up by 20% as of now.
On the other hand, Microstrategy stock continues to outperform Bitcoin by gaining 40% in the last five trading sessions. As of Wednesday’s closing, the MSTR share price is up by a staggering 273% outperforming Bitcoin’s 168% gains.
It is clear that through its Bitcoin bet, MicroStrategy has managed to create a massive value unlocking for its shareholders. In a note issued on Tuesday, analysts at TD Cowen expressed their anticipation that Bitcoin transactions would ultimately benefit shareholders over time. They noted:
“MicroStrategy represents a new kind of firm that generates dollar-based cash flow from enterprise software and cloud services but then converts its excess cash flow – on an effectively leveraged basis – into Bitcoin. What started as a defensive strategy to protect the value of its reserve assets has become an opportunistic strategy intended to accelerate the creation of shareholder value.”
Earlier this week, just before the 20% Bitcoin price rally triggered, MicroStrategy purchased an additional 3,000 Bitcoin worth $155 million. With the recent BTC price rally to $64,000, MicroStrategy’s unrealized profits for its Bitcoin holdings have crossed past $5.7 billion.
Michael Saylor, MicroStrategy’s executive chairman and largest investor, holds a 12% stake in the company. Additionally, he revealed in 2020 that he personally owns 17,732 Bitcoins. When combining these holdings, Saylor’s wealth has increased by approximately $700 million since Sunday.
According to a recent SEC filing on February 26, 2024, Michael Saylor, the Executive Chairman and 10% Owner of MicroStrategy Inc (NASDAQ:MSTR), sold 5,000 shares of the company.
The shares were sold at a price of $765.67 per share, totaling $3,828,350 for the transaction. This sale contributes to Saylor’s total sales over the past year, amounting to 165,000 shares, with no recorded purchases in the same period.
Looking at the insider transaction history of MicroStrategy Inc., there is a consistent pattern of selling, with 62 insider sells and no insider buys over the past year.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Temasek adopted a cautious approach and slowed down its investment pace, with a net investment of $3 billion in the 12 months ending March 31.
Temasek Holdings Ltd, Singapore’s state investment business noted for its strong investment portfolio and stable financial performance, has reported a 5.07% decrease in its one-year total shareholder return in Singapore Dollars for the fiscal year ending March 31. According to reports, the company’s net portfolio value also experienced a dip, totaling S$382 billion ($284.77 billion) compared to S$403 billion in the previous year. This marks the first annual shareholder negative return for Temasek since 2020.
This downturn comes as no surprise, considering the challenging macroeconomic and geopolitical environment that has impacted global markets. Lim Boon Heng, Chairman of Temasek recently highlighted the challenging nature of the global market conditions in 2022.
Last year, global stock markets grappled with the challenge of sticky inflation, despite central banks implementing multiple rate hikes. Intensifying geopolitical tensions, such as those between the US and China, as well as the Russia-Ukraine conflict, added to market volatility and uncertainty.
Notably, the S&P 500 (INDEXSP: .INX) and MSCI Asia ex-Japan benchmarks both plummeted by around 20%. This slump reflects investor concerns about the impact of rising prices on corporate profitability and economic growth. Against this backdrop, Temasek’s decline in annual shareholder return appears relatively favorable, showcasing its ability to manage risks and mitigate losses.
The Singapore state investment arm maintains a diversified portfolio consisting of both public and private market investments. As of March 31, unlisted assets accounted for 53% of its portfolio, generating higher returns compared to listed assets.
Marking the unlisted portfolio to market would result in an estimated value uplift of S$18 billion. Additionally, Temasek has delivered robust long-term returns, with three-year, ten-year, and twenty-year total shareholder returns of 8%, 6%, and 9% respectively.
Furthermore, Temasek disclosed a reversal of gains in its global direct investments in industries such as technology, healthcare, and payments, owing mostly to value derating in the higher interest rate environment.
Consequently, Temasek adopted a cautious approach and slowed down its investment pace, with a net investment of $3 billion in the 12 months ending March 31. Temasek made strategic investments in payment platform Stripe and IT security provider Kaseya, facilitating the acquisition of Datto, a provider of security and cloud-based software solutions.
Additionally, Temasek has bolstered its investment in Mastronardi Produce Ltd., a Canadian company that specializes in the cultivation and distribution of fresh produce grown in greenhouses. This move reflects Temasek’s confidence in the growth potential of the agriculture and food sector, driven by increasing demand for high-quality, sustainable produce.
Furthermore, Temasek has set a limitation on early-stage investments, limiting them to 6% of its portfolio. This metric demonstrates the company’s sensible risk management approach and recognition of the higher risks associated with early-stage enterprises.
In November, Temasek wrote down its $275 million investment in the bankrupt crypto exchange, FTX. Subsequently, the company implemented compensation cuts for the team responsible for recommending the investment and the senior management team.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Automotive corporation Stellantis targets global BEV sales of 5 million by 2030 following its commendable full-year results.
Stellantis recently posted its full-year 2022 earnings results, which showed a 26% rise in net profit to a record 16.8 billion euros, or $17.9 billion. The multinational automotive manufacturing corporation also experienced a 41% annual jump in electric vehicles and global battery sales.
Following its commendable full-year outing, Stellantis announced a massive 4.2 billion euros ($4.47 billion) dividend payout to shareholders. This payout scheme is still subject to shareholder approval and represents 1.34 euros per share. Furthermore, the company’s board approved a share buyback of 1.5 billion euros, executable by the end of 2023.
Stellantis’ shares increased by 1.6% during the early trading session in Europe.
According to the company, net revenue surged 18% to 179.6 billion euros due to a combination of favorable parameters. These factors include a favorable vehicle mix, strong net pricing, and positive FX translation effects. Stellantis chief executive Carlos Tavares also explained that the results reflected the company’s Europe electrification strategy effectiveness. This strategy saw the sale of 288,000 battery and electric vehicles (BEV) in 2022. In addition, Stellantis currently has 23 BEVs up for sale, which is expected to double by the end of 2024. The Amsterdam-based automotive manufacturer is targeting global BEV sales of 5 million by 2030.
Commenting on Stellantis’ progress and 2030 renewable energy automotive agenda, Tavares explained:
“We now have the technology, the products, the raw materials, and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024. My deep appreciation to each and every employee and our partners for their contributions to a more sustainable future.”
Formed by a merger of Italian-American conglomerate Fiat Chrysler Automobiles (FCA) and the French PSA Group, Stellantis is a leading automobile manufacturer. Considered one of the largest carmakers in the world, the company is behind several popular individual auto brands. These brands include Peugeot, Jeep, Dodge, Fiat, Chrysler, and Alfa Romeo.
Stellantis full-year 2022 figures also underscores the company’s position as the world’s fifth-largest automaker in global vehicle sales last year. The company ranked behind Toyota, Volkswagen, Hyundai, and General Motors.
Last September, Stellantis announced a partnership with Uber (NYSE: UBER) to make a play for France’s electric vehicle market. At the time, the announcement revealed that car rental service provider Free2Move would also be part of that deal.
Under the partnership, Free2Move would facilitate Uber’s agenda to convert 50% of its French vehicle fleet to electric vehicles. Furthermore, Stellantis’ overlapping EV scope also stood to benefit from that development. The company, which sought to produce and sell more electric and hybrid cars, also aimed to keep its profit margins high. Commenting on Stellantis’ capacity to attain all sales targets at the time, Tavares said:
“We are proud to be a legacy automaker. Being a legacy automaker shows our ability to design and produce safe products at scale.”
Nonetheless, Stellantis still faces substantial challenges in transforming its traditional combustion engines to zero-emission.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
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