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Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.
has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada. He has worked exclusively within the financial sector since 2007, when he started with the Canadian Economic Press. Neils can be contacted at: 1 866 925 4826 ext. 1526 nchristensen at kitco.
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MicroStrategy's Bitcoin Bets Deliver Stellar Returns in 2024MicroStrategy's aggressive Bitcoin purchases in 2024 have paid off handsomely, with its stock, MSTR, becoming the top-performing asset globally. MSTR's stock surged 358% year-over-year, sharing the top spot with Palantir Technologies. Bitcoin ranked third, while Nvidia came in second. \MicroStrategy's founder, Michael Saylor, a staunch Bitcoin proponent, believes the cryptocurrency will consistently outperform most U.S. stocks. The firm acquired a significant amount of Bitcoin (446.4K BTC), controlling 2.2% of the total supply as of late 2024. The most aggressive buying spree occurred in the fourth quarter, with over 107K BTC acquired in November alone.\While the pace of acquisition slowed in December, the firm plans to launch a massive equity issuance program to further accelerate its Bitcoin strategy. Despite a recent dip following a Bitcoin sell-off, MicroStrategy's bold bet on Bitcoin continues to generate significant returns.
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Metaplanet Doubles Down on Bitcoin Strategy Amid Market VolatilityMetaplanet, a Tokyo-listed firm, continues to bolster its Bitcoin holdings, acquiring an additional 619.7 BTC at an average price of $97,786. This strategic move brings its total Bitcoin stash to 1,761.98 BTC, valued at over $164 million. Despite Bitcoin's recent decline below the $100K mark, Metaplanet remains bullish on the cryptocurrency's long-term potential, fueled by a recent bond issuance and mirroring the strategy of MicroStrategy. Metaplanet's aggressive Bitcoin acquisitions, however, have coincided with recent stock price fluctuations.
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Bitcoin’s volatility vs. MicroStrategy’s $94B goal: Which one will prevail?MSTR’s stock and Bitcoin are a double-edged sword: MSTR boosts Bitcoin’s legitimacy, but its value swings with Bitcoin’s volatility.
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Peter Schiff Criticizes Bitcoin Trend, Calls Saylor's Purchases Politically and Financially MotivatedWhile Bitcoin continues its record-breaking rally, Peter Schiff, a long-time Bitcoin critic, has renewed his attacks on the cryptocurrency. He has specifically targeted Michael Saylor, CEO of MicroStrategy, and his company's aggressive Bitcoin accumulation strategy, claiming that Saylor's purchases are politically and financially motivated. Schiff's criticisms have sparked debate within the crypto community, contrasting with Saylor's belief in Bitcoin as a hedge against inflation and a safeguard for the value of the US dollar.
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Peter Schiff's 'USA Coin' Proposal Sparks Debate Over Decentralized vs. Government-Backed Digital CurrenciesFinancial commentator Peter Schiff has proposed a 'USA Coin', a government-backed digital currency modeled after Bitcoin but with upgrades for payment viability. This has reignited the debate about Bitcoin's decentralized nature versus the potential benefits of government-backed digital currencies. Schiff argues that USA Coin could address Bitcoin's scalability and use as a medium of exchange issues, while Bitcoin supporters emphasize its resistance to censorship and inflation due to its decentralized design.
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Bitcoin Strategic Reserve: Federal Reserve Remains UnmovedDespite Donald Trump's previous support for a Bitcoin Strategic Reserve, Federal Reserve Chair Jerome Powell stated the Fed has no plans to accumulate Bitcoin. Powell's comments caused market uncertainty, leading to a price dip for Bitcoin. While the Federal Reserve maintains independence in monetary policy, the establishment of a Bitcoin Strategic Reserve might require executive action from the Treasury Department.
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