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Pundit Shares 3 Ways to Address XRP Reserve Fee Issue as XRP Price Surge to $1.5 Raises Costs

Sam Wisdom Raphael
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Pundit Shares 3 Ways to Address XRP Reserve Fee Issue as XRP Price Surge to $1.5 Raises Costs

The recent surge in XRP’s price has led to renewed discussions within the XRP community about reducing the network’s reserve fee. 

This fee, currently fixed in XRP, determines the cost of opening new accounts and creating additional objects on the XRP Ledger (XRPL). As XRP’s price climbs, the dollar value of these fees rises, creating concerns among users about onboarding.

Currently, the XRPL requires a reserve of 10 XRP to open a new account and an additional 2 XRP for each object created. When XRP traded for $0.50 at the start of this month, opening a new account demanded a reserve fee of $5 (10 XRP) while creating additional mandated $1 (2 XRP).

However, with XRP having recently surged to the $1.50 region, opening a new account would require a reserve fee of $15, additional $10. In addition, the reserve for each object has bumped to $5. This rise has led to concerns that the high fees could deter new retail users.

Community Proposes Solutions

Market commentator Krippenreiter recently proposed three potential solutions to address the reserve fee issue. Sharing his thoughts on X, he stressed the need for a plan as XRP prices continue to rise.

The first solution he proposed was Account Leasing. This system would allow users to lease XRP for reserve fees rather than locking up their own funds indefinitely. 

However, he acknowledged that implementing this solution would require major development and coordination, especially from RippleX developers, to refine the technical aspects and initiate community discussions. 

The second suggestion from Krippenreiter is a Fast Coordinated Restart of the XRPL nodes, allowing validators to propose new, lower reserve values to the network. While faster, this method would require planning to ensure the network remains operational during the process.

However, according to Krippenreiter, another approach would include integrating the reserve fee adjustment into routine updates of the XRPL software, such as during the rollout of new versions. 

He calls this third method a Slow Coordinated Restart. Notably, this slower approach avoids disruptions but may delay relief for users facing high fees.

XRP Community Discussions

Krippenreiter revealed that his personal reserve balance in XRP is now equivalent to $50. Interesting, Eri, a prominent community member, also shared that her reserve fees had risen to $70. 

This echoed Krippenreiter’s remarks, who insisted that that the current reserve system struggles to adapt dynamically to XRP’s price changes, which have become more rapid amid the ongoing bull run.

In response, Mayukha Vadari, a senior software engineer at RippleX, pointed out that XRP’s recent price surge marks the fastest increase in at least three years, suggesting that stakeholders should wait for the market to stabilize before implementing drastic changes. 

Krippenreiter insisted that the static reserve system lacks flexibility in responding to sharp price increases. He maintained that the current system relies too heavily on manual interventions, such as node restarts.

Vadari responded by pointing out that most blockchains with reserve systems face similar challenges. Notably, she explained that making reserve fees dynamic could present risks. 

For context, if the network lowers reserve requirements and then needs to raise them later, users who onboarded during the lower fee period might find their accounts locked, as their XRP balances would no longer meet the rise in reserves. 

MetaMask Mentions This Milestone for Shiba Inu and Dogecoin

Lele Jima
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MetaMask Mentions This Milestone for Shiba Inu and Dogecoin

Shiba Inu and Dogecoin achieve a major milestone on popular crypto wallet MetaMask. 

In an X post yesterday, MetaMask highlighted the top five most swapped tokens within its wallet over the past week. Interestingly, the list is dominated by meme-based cryptocurrencies, such as Pepe (PEPE), Dogecoin (DOGE), Shrub (SHRUB), and Shiba Inu (SHIB). 

Top 5 Most Swapped Tokens on MetaMask 

Notably, frog-themed token PEPE ranked in the top position, with DOGE ranking as the second most swapped token on MetaMask this week. Solana (SOL) secured the third position, followed by SHRUB. 

Additionally, Shiba Inu secured the fifth spot, ranking among the top five most swapped tokens on MetaMask. According to MetaMask, the ranking focused on users’ activity, particularly token swaps, on the Ethereum mainnet over the past week. 

For context, MetaMask’s swap feature allows users to initiate token swaps directly within the wallet. It was first introduced in October 2020 on MetaMask’s desktop extension. Interestingly, the team behind the wallet extended its support to mobile users a few months later. 

Since its launch, MetaMask has allowed users to swap tokens directly within the wallet, eliminating the need to transfer assets to and from centralized exchanges for swaps. 

Shiba Inu and Dogecoin Popularity 

Meanwhile, Shiba Inu and Dogecoin have garnered significant attention recently, as reflected in MetaMask’s latest report. Their popularity soared tremendously this month following Donald Trump’s re-election as the president-elect of the United States. 

Consequently, DOGE and SHIB recorded huge spikes in different areas, ranging from their prices to trading volumes. 

At press time, Dogecoin’s price has surged 19.02% over the past day to $0.4682. Its trading volume has skyrocketed by 126.5% over the past 24 hours to a whopping $19.23 billion. 

Similarly, Shiba Inu broke the resistance at $0.000025 earlier today, soaring above the $0.000027 mark. Currently, SHIB is priced at $0.00002704, marking a daily increase of 8.78%. Shiba Inu’s trading volume has soared 113.82% in the past day to $3 billion. 

BitBoy Comments on SEC “Emergency Settlement” of Ripple Suit

Abdulkarim Abdulwahab
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BitBoy Comments on SEC “Emergency Settlement” of Ripple Suit

Ben Armstrong, aka BitBoy, recently weighed in on the growing speculation within the XRP community about the SEC “calling an emergency settlement” in the ongoing Ripple lawsuit.

This speculation coincided with the announcement that SEC Chairman Gary Gensler will resign from his position, with his resignation set to take effect on January 20, 2025. Among the ongoing enforcement actions Gensler oversees is the Ripple lawsuit, which has just entered the appeal phase.

However, some XRP community members believe the appeal could be paused or dismissed now that Gensler’s departure is confirmed. 

BitBoy Comments on the Rumors

In a recent live video, Ben Armstrong (BitBoy) addressed the rumors. While acknowledging the speculation, he clarified that he was unsure of the claim’s validity and promised to investigate further. 

For context, the “emergency settlement” speculation stems from the SEC’s weekly closed-door sessions that discuss pending cases and injunctions. The SEC held one such session on November 21, the same day Gensler publicly disclosed his resignation.

Notably, the rumors contributed to Friday’s significant price surge in XRP.  The asset rallied over 40% to reach $1.60 for the first time in three years.

Former SEC Lawyer Confirms Likely Ripple Appeal Dismissal

Marc Fagel, a former legal representative of the SEC, also weighed in on the matter. He noted that while there have been many fabricated reports in the past about Ripple’s settlement discussions during the SEC’s closed-door meetings, the latest rumor appears more credible. 

“The last 200 posts about SEC weekly meetings were completely made up, but this one is totally true,” Fagel said.

Fagel also pointed out that if the appeal were to be dismissed—an outcome that would be historically unusual but still possible—it likely wouldn’t happen until after the new SEC Chair is appointed and confirmed. This means there will likely be ample time for more false reports and speculation leading up to the January 15 brief filing, he added.

Interestingly, Gensler’s resignation date coincides with Donald Trump’s inauguration as the 47th president of the United States, scheduled for January 20, 2025. During his presidential campaigns, Trump had promised to remove Gensler from office on his first day. However, Gensler has chosen to step down on the very same day that Trump will assume office.

Is a Dump Incoming? Jim Cramer Just Endorsed Bitcoin, Calling the Asset a Winner

Elendu Benedict
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Is a Dump Incoming? Jim Cramer Just Endorsed Bitcoin, Calling the Asset a Winner

Skepticism emanated in the crypto community after Jim Cramer endorsed Bitcoin, dubbing the asset a winner as he encouraged investors to own it.

The “Mad Money” host had kind words for the pioneering cryptocurrency in the Lightning Round section of his show, stating that he would encourage buying into Bitcoin. In a scenario widely deduced to have a converse outcome, Cramer called Bitcoin a winner.

Notably, Cramer’s comments came after a Florida-based caller mentioned that he bought MicroStrategy’s stock (MSTR) in 2023, accruing an over 1,000% portfolio increment. The caller also mentioned he does not plan on selling, lauding the software firm’s co-founder, Michael Saylor.

The bullish sentiment prevails despite the recent price dump the MicroStrategy stock experienced on Thursday. Notably, the price of MSTR soared from $370 to $543 in three days but eventually crashed 30% in an hour. Despite this, the stock retained a 62% gain in November and 473% rise this year.

In response to the recent investor comment, Cramer argued that although MSTR is a Bitcoin player, he refers to owning Bitcoin directly. The “Mad Money” host then stated that “all I can tell you is own Bitcoin, that’s a winner.”

Inverse Cramer in Play?

Meanwhile, this high praise from the long-term Bitcoin critic did not bode well with the crypto community. Following his comments, enthusiasts pointed to the “Inverse Cramer” theory, which has accurately predicted moves in the past.

Notably, the CNBC “Mad Money” host has a track record of seeing his predictions play out conversely. His blunt inverse stock and crypto predictions led to the creation of an exchange-traded fund (ETF), allowing users to bet on the opposite of the TV personality’s market recommendations.

As a result, investors have humorously sensed Cramer’s Bitcoin lauds as a sell signal. The general consensus believes that the current bull run might be in jeopardy following the TV presenter’s endorsement of the bullish premier asset.

The Crypto Community Reacts

Cramer’s Bitcoin comments have tongues wagging as speculations of the asset peaking at $100,000 emerge. For instance, a user teased that it was over for Bitcoin, jokingly stating it was fun while it lasted. He then alleged that Cramer just confirmed that $100,000 is Bitcoin’s top.

Another user emphasized the likely catastrophic outcome for bulls, asserting that “the bull market just signed its death certificate.” 

However, on-chain security tool Harpie argued that the inverse Cramer theory would not work for Bitcoin this time. The firm insisted that the leading cryptocurrency is too bullish to stall on the Cramer effect.

Cardano Finally Reaches $1 After XRP, Can Dogecoin Also Hit $1 with Its 146B Supply?

Sam Wisdom Raphael
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Cardano Finally Reaches $1 After XRP, Can Dogecoin Also Hit $1 with Its 146B Supply?

Cardano has surpassed the dollar-mark days after XRP hit the milestone, leading to speculation of a similar move from Dogecoin despite its larger supply.

Euphoria from the bull market has spilled into different ecosystems. The Cardano community is the latest to celebrate an impressive milestone after ADA officially claimed the $1 price mark yesterday for the first time since April 2022, over two years ago.

Cardano Hits $1 Days After XRP

Notably, Cardano reached this feat amid a massive momentum that gained steam on Nov. 15, as it eventually surpassed the $0.57 region. ADA sustained the bullish uptrend and eventually crossed $1 yesterday after starting the day at a price of $0.8219. Cardano hit a peak of $1.0440 before facing resistance. 

Despite the resistance, the altcoin held above the $1-mark, closing the day at $1.0175 amid an impressive 23.81% gain. This marked Cardano’s best intraday performance since Feb. 13, 2021, when it gained by a more substantial 33%. At press time, ADA has maintained the $1 level, currently trading for $1.0822.

Cardano’s latest move comes on the back of a similar feat from XRP, the sixth-largest cryptocurrency. Amid a rally that began on Nov. 5 following Donald Trump’s election win, XRP officially reclaimed $1 on Nov. 16 for the first time since December 2021, nearly three years ago.

Notably, the trio of XRP, Cardano and Dogecoin have been on the race to reach $1 since the start of the ongoing bull run. XRP had the upper hand, as it traded closer to the price mark than the other two tokens. ADA was poised to reach the level next, with DOGE expected to follow suit.

Can Dogecoin Reach $1 with 146B Supply?

This forecast has so far materialized, with XRP and Cardano already above the price target. Now, investors have turned their eyes on Dogecoin, with the meme coin now the next on track to claim the milestone.

Notably, DOGE is already showing signs of another phase of rapid price surges following a period of consolidation. The meme coin confirmed its potential for growth when it rallied 177% to $0.4385 on Nov. 12, attaining this rate within eight days. 

Following the pullback from $0.4385 and the subsequent consolidation, DOGE has now resumed its uptrend after breaching its bull flag. The token touched a new peak of $0.48 today and then retraced to the current price of $0.4655. Analyst Ali Martinez earlier predicted a rally beyond $1 amid the latest breakout. 

At the current price, data confirms Dogecoin would need to rally by an additional 114.92% to reach the $1 price. Given its historical performance in the previous bull run and the potential it has demonstrated since Nov. 5, analysts believe an extra 114.92% rise is readily feasible for DOGE.

Dogecoin 1D Chart
Dogecoin 1D Chart

However, Dogecoin would face a more substantial roadblock to $1 than Cardano and XRP. Notably, while XRP has a circulating supply of 56.9 billion tokens, and ADA at 35 billion, Dogecoin boasts a more expansive supply of 146 billion. 

As a result, Dogecoin would require much more capital inflow to reach $1, which would bring its market cap to $146 billion. Also, DOGE has never reached the $1 price in its history. Despite these challenges, the price mark is still within reach for the meme coin. Martinez even expects a rise beyond $2.

Ripple CEO Reacts as Donald Trump Nominates Billionaire Hedge Fund Manager as Treasury Secretary

Lele Jima
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Ripple CEO Reacts as Donald Trump Nominates Billionaire Hedge Fund Manager as Treasury Secretary

Ripple’s CEO Brad Garlinghouse expresses optimism regarding the nomination of Scott Bessent as the United States Treasury Secretary. 

In a pivotal move, U.S. President-Elect Donald Trump nominated investor Scott Bessent to serve as Treasury Secretary under his administration. 

Bessent Profile 

Bessent’s nomination has been among the most anticipated over the past few days due to his market-savvy and pro-innovation approach to economic policies. 

His entire career has been in the finance sector, working for Jim Chanos and George Soros and running his own hedge fund, Key Square Capital Management. He is known to advocate for cautious trade policies, tax reform, and deregulation. 

Prior to Bessent’s nomination, other high-profile candidates, such as investors John Paulson and former Federal Reserve Governor Kevin Warsh, were among those considered to fill the position. However, the U.S. President-elect nominated Bessent for the position. 

Significance of Treasury Department to Crypto 

Bessent’s appointment has garnered significant attention in the financial market, including crypto. The Treasury Secretary nomination holds significant importance from a crypto perspective. 

The Treasury Department significantly influences the future of the U.S. crypto industry, determining how the sector should be regulated. 

Ripple CEO Reacts 

Following Bessent’s appointment, top crypto stakeholders have been reacting to the move, with Ripple CEO providing a hint of what the industry should expect. 

Garlinghouse referred to Bessent as the perfect choice for the Treasury Department. The Ripple CEO emphasized that the billionaire hedge fund manager will become the most pro-crypto and pro-innovation Treasury Secretary the industry has ever seen. 

This suggests that Garlinghouse believes Bessent will support favorable policies that could foster the growth of crypto. For context, Garlinghouse has been an advocate for pro-crypto regulations, actively engaging with lawmakers to promote a favorable regulatory framework. 

Last week, reports suggested that Garlinghouse met with Donald Trump after the election. Although he did not directly confirm the meeting during an interview on FOX Business, the Ripple CEO liked a post about it. 

Crypto Enthusiasts Anticipating Who Will Serve as Next SEC Chair 

Meanwhile, with Trump nominating Bessent for Treasury Secretary, crypto enthusiasts are closely observing who would fill the role of the SEC chair under his administration. 

Like the Treasury Department, the SEC also significantly influences crypto regulation, as its policy could decide the industry’s future throughout Trump’s reign as president. 

With Gary Gensler announcing plans to resign as SEC Chair on January 20, Trump will have to nominate a new chairperson from a list of high-profile candidates, including pro-crypto lawyer Teressa Goody Guillen and Robinhood’s CLO Dan Gallagher.   

Top Analyst Says XRP Will Reach New ATH Sooner Than Expected

Abdulkarim Abdulwahab
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Top Analyst Says XRP Will Reach New ATH Sooner Than Expected

Market watchers believe an all-time high (ATH) for XRP might just be around the corner—much sooner than most people envision.

XRP has continued to solidify its position in the $1 range, with a 28% surge today, pushing its price to $1.43. This latest price movement has boosted XRP’s two-week performance to a massive 170% gain.

With XRP showing strong determination to break its 2021 cycle high, market analysts believe the journey to a new ATH has already begun. Among those voicing this optimistic view is “CrediBULL,” who boasts a following of 436K on X. According to CrediBULL, XRP is likely to reach a new ATH much faster than most expect.

XRP to Outperform Bitcoin and Ethereum

Furthermore, he expressed the bold opinion that XRP will significantly outperform both Bitcoin and Ethereum, the two market leaders, from its current price levels.

On short-term timeframes, XRP is outperforming both Bitcoin and Ethereum in terms of price appreciation. For instance, Bitcoin is up by 55% over the past 90 days, while Ethereum has gained 21%. In contrast, XRP has surged by an impressive 94% over the same period.

However, Bitcoin is trading near an all-time high of around $99K, and Ethereum is down just 32% from its peak. XRP, on the other hand, is still trading 63% below its six-year-old all-time high. Despite this, analysts believe that XRP’s days below its peak are numbered.

In his analysis, CrediBULL pointed out that the XRP/ETH pair has just reclaimed and retested a four-year-long range, with the first target potentially being about 250% higher.

Currently, the XRP/ETH pair stands at 0.0004390, up by +18.14%. CrediBULL projects a further increase of 246%, bringing it to 0.0008357 ETH by the end of 2025. He envisions an even more promising outlook as the years progress.

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Bullish Signal on XRP/USD

Meanwhile, looking at the XRP/USD pair, CrediBULL pointed out that XRP’s monthly RSI is about entering the overbought region for the first time since 2021.

“This is extremely bullish,” he said. He explained that contrary to popular belief, a higher RSI typically signals stronger momentum and a more bullish outlook for the asset—provided there are no bearish divergences. 

As a result, he concluded that the next target for XRP is $2, and after that, it’s aiming for a new all-time high.

Here’s How High Dogecoin Can Rise if DOGE Gets $50 Billion Daily Volume

Sam Wisdom Raphael
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Dogecoin, the first meme coin, has repeatedly shown its capacity for explosive price movements, often coinciding with spikes in trading volume. 

Historical data reveals that each time Dogecoin (DOGE) sees a price surge, there is an accompanying rise in volume. As a result, understanding the relationship between volume and price could help in projecting what will happen if DOGE achieves a daily volume of $50 billion.

Historical Context Between DOGE’s Volume and Price

Dogecoin reached its all-time high above $0.73 in May 2021, fueled by a surge in daily trading volume, which peaked at about $46 billion, according to market data from CoinMarketCap.

This massive rise was influenced by retail enthusiasm, celebrity endorsements like Elon Musk’s tweets, and market-wide euphoria. At its peak, Dogecoin’s market cap exceeded $98 billion, making it one of the top crypto assets by valuation at the time.

However, as DOGE dropped from the $0.73 peak, investor participation reduced, leading to an equal slump in trade volume. In recent times, Dogecoin’s 24-hour volume averaged $3.5 billion.

Nonetheless, this figure surged massively amid the latest election-induced increase in price. For context, Dogecoin spiked 177% from $0.1582 on Nov. 5 to a three-year peak of $0.4385 on Nov. 12. Within this period, volume rose beyond $19 billion and particularly hit a peak of $39.9 billion on Nov. 12.

Dogecoin Potential Price at $50B Volume

Currently, Dogecoin trades at around $0.3945 with a 24-hour volume of $8.7 billion. This is in contrast to its 2021 heights, confirming the important role of volume in driving upward momentum. 

When trading volume spikes, it typically signifies heightened interest and liquidity, which can amplify price movements, especially in speculative assets like DOGE.

The relationship between trading volume and price is not straightforward, as price is determined by supply and demand. However, we can make a simplified estimate based on the proportional increase in trading volume and assume that higher volume leads to higher prices due to increased demand.

Using this as a benchmark, If trading volume increases to $50 billion per day and we assume proportionality, the price of Dogecoin could rise to approximately $1.23 per coin.

The Price of $1.23 would imply a new market cap of roughly $212 billion, which would place Dogecoin among the most valuable cryptocurrencies. This would require significant, sustained interest and investment.

However, this would depend on several factors. The first is a rise in demand. Notably, higher trading volume often translates to rising demand. With $50 billion in daily activity, massive capital inflows could push prices higher, especially if new buyers enter the market.

However, the second factor is speculative momentum. Crypto assets thrive on speculation, and Dogecoin, as a meme token, benefits from social media buzz and community-driven hype. A volume surge could attract traders aiming to capitalize on short-term price spikes.

Also, greater liquidity from high volume can lead to sharper price movements, particularly if large transactions occur. If most of the volume consists of buy orders, upward pressure on DOGE’s price would be substantial.

Ethereum Surges to $3,400, But Major Whale’s $224M Profit-Taking Triggers Market Slump

Abdulkarim Abdulwahab
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Ethereum Surges to $3,400, But Major Whale’s $224M Profit-Taking Triggers Market Slump

While Ethereum bulls emerged today, propelling ETH back to the $3,400 range, significant selling pressure has hindered its price ascent.

Recent analysis shows that a long-standing holder of Ethereum emerged to dump a large number of ETH tokens after the asset pumped by 10% today.

Market watcher Lookonchain drew attention to this development in a recent disclosure, revealing that a whale was engaging in a continuous selling spree of ETH after being inactive for nearly a decade. Today alone, the whale cashed out nearly $4.5 million worth of ETH.

Details of the ETH Tokens Under Liquidation

Notably, the ETH tokens offloaded by this whale today in the $3,300 per token range were initially acquired at $6 per ETH back in May 2016. According to the report, this investor had committed $2.4 million to acquire 398,889 units of Ethereum at the time. However, eight years later, the value of this holding ballooned to a staggering $1.34 billion.

This investor held the ETH across 28 addresses over the last eight years with no activity. He first became active again two weeks ago, on November 7. At that time, Ethereum’s market value was around $2,895. While significantly below its peak valuation, the whale began selling nonetheless, converting the tokens into USDC stablecoin.

Today, the whale liquidated 13,623 ETH as the market value of ETH rose to $3,428. After eight rounds of sales over the past two weeks, the seasoned investor has profited over $224 million from Ethereum and still holds $1.1 billion worth of ETH tokens.

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Ethereum whale acquisition timeline and sales | Lookonchain

Ethereum Price Reacts

This whale’s selloff spree has contributed to the recent ETH pullback. After briefly reclaiming the $3,400 mark today, Ethereum’s price has already dipped by 5.4% to $3,250 at press time.

This bearish reversal further adds to ongoing concerns among market participants about ETH’s performance, particularly as it continues to lag behind Bitcoin.

Meanwhile, Bitcoin is in a price discovery phase in the $98K range, while Ethereum is 32% below its all-time high. During previous bull seasons, Ethereum closely followed Bitcoin’s performance, but now it is lagging, even with the presence of ETFs.

Hefty Bitcoin Acquisition Looms as Allianz Buys 25% of MicroStrategy $2.6B Convertible Notes 

Lele Jima
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Hefty Bitcoin Acquisition Looms as Allianz Buys 25% of MicroStrategy $2.6B Convertible Notes 

Allianz acquires 25% of the 2031 convertible notes from MicroStrategy, potentially paving the way for a massive Bitcoin acquisition. 

Pseudonymous analyst Petruschki called the attention of the broader crypto community to the development today in a tweet. The post, accompanied by data from Bloomberg Terminal, shows that the insurance giant acquired 149,455 units of MicroStrategy’s $2.6 billion convertible note offerings. 

Allianz Investment 

Allianz’s acquisition represents 24.75% of the business intelligence firm’s convertible note offerings, due March 2031. Per Petruschki, Allianz allocated its investment across four sub-organizations, with Allianz Global Investors Luxembourg receiving 14.34% and AllianzbGlobal Investors GMBH receiving a smaller portion of 0.04%. 

The investment shows Allianz’s confidence in MicroStrategy’s operation, which revolves around Bitcoin. 

Other notable companies that also participated in the fundraiser include Calamos Partners, Context Capital Management, BlackRock, Franklin Resources, and Deutsche Bank. These companies acquired 37,329, 30,500, 5,925, 5,475, and 680 units of MicroStrategy’s 2031 notes, respectively. 

Hefty Bitcoin Acquisition Looms 

The $2.6 billion note offering follows MicroStrategy’s announcement of a $3 billion fundraiser following the offering of its 2029 convertible senior notes. MicroStrategy disclosed in a press release that it offered the 2029 notes at a 55% premium with a $672 implied strike price. 

Like previous convertible note offerings, MicroStrategy also aims to use the proceeds from its 2031 notes offering to purchase Bitcoin. With Bitcoin trading at $97,707, MicroStrategy can acquire 26,610 BTC using the $2.6 billion. 

The development is part of MicroStrategy’s commitment to increase its Bitcoin holdings through fundraising. As reported earlier, the company disclosed plans to raise $42 billion over the next three years to purchase Bitcoin. 

Despite being the largest corporate BTC holder, the company has focused on increasing its Bitcoin holdings. According to data from BitcoinTreasuries, MicroStrategy holds a total of 331,200 BTC, valued at .36 billion. 

Meanwhile, the development follows Bitcoin’s remarkable spike to $99,000. The premier crypto asset reached an all-time high of $99,502 earlier today before retracing below $98,000. At press time, Bitcoin trades at $97,707, up 0.67% over the past 24 hours. 

Despite the massive surge of Bitcoin’s price, MicroStrategy’s stock (MSTR) plunged by 27.5% yesterday from a high of $536.87 to $389.18. The stock currently trades at $397.28, marking a five-day increase of 18.22%.

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