Bitcoin Makes Record High of USD 1,09,200 before Trump Oath taking Ceremony

At the time of writing this report, the price of Bitcoin on the international crypto exchange Binance was trading at more than $ 1,08,130, up by about 3.60 percent. The second largest cryptocurrency Ether had a profit of more than five percent. The price of Ether was at more than $3,390. Other cryptocurrencies that rose included XRP and BNB. However, there was a decline in the prices of many cryptocurrencies. In the last one day, the market capitalization of crypto had declined by more than two percent to about $ 3.60 trillion.

Funding is also gaining momentum in Bitcoin ETFs. The interest of institutional investors in this segment has also increased. American company Microstrategy plans to increase its Bitcoin holding. For this, the company is planning to increase its authorized A class common stock from approximately 33 crore shares to more than 10 billion shares. The plan may be presented for voting at MicroStrategy’s shareholders’ meeting on January 21. However, the company’s founder, Michael Saylor, has about 47 percent stake in the voting shares.

With this increase in the shares of this software company, the total number of its outstanding shares will be close to that of American company Alphabet, which operates Amazon related to e-commerce and technology and Internet search engine Google. In October last year, MicroStrategy had said that it planned to raise about $42 billion by selling debt and issuing shares to buy Bitcoin in three years. MicroStrategy’s share price has increased by more than 2,500 percent since it started buying Bitcoin. Russian companies are using Bitcoin in their business abroad. The Russian government had changed the law to allow the use of cryptocurrencies to deal with the restrictions of Western countries.