MicroStrategy Buys $37 Million in $BTC as VC’s Eye New Memecoin

MicroStrategy, the biggest corporate holder of Bitcoin, has added even more $BTC to its bag. According to a recent report, the tech company has bought 850 more BTCs, worth over $37 million.

Meanwhile, Galaxy Fox ($GFOX) has emerged as one of the best cryptocurrencies to invest in, catching the eye of VC investors. With over $3.3 million worth of $GFOX sold in record time, $GFOX is climbing up the ranks of the best altcoins to invest in 2024.

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MicroStrategy Buys $37 Million More $BTC

The NASDAQ-listed business intelligence software giant MicroStrategy has been on a Bitcoin accumulation spree over the past three and a half years. In a recent report shared by the company, it purchased 850 BTC worth $37.5 million. 

Thanks to its latest $BTC purchase, MicroStrategy now holds over 190,00 BTC, making it the biggest corporate holder of Bitcoin. Despite there being over 22,000 cryptocurrencies in the market, MicroStrategy still sees Bitcoin as one of one of the best cryptocurrencies to invest in. And this bet appears to be paying off. 

Using the dollar-cost-averaging (DCA) method, the company’s average purchase price is $31,464. This suggests that MicroStrategy has spent about $6 billion to accumulate its entire portfolio of Bitcoin. The unrealized profits of the corporation have increased due to the recent surge in Bitcoin.

The value of the company’s holdings has increased by more than 50%, or more than $9 billion, now that Bitcoin is selling well above $47,500. Many other venture capital investors have switched to Galaxy Fox ($GFOX) as one of the best altcoins, while MicroStrategy is accumulating $BTC.

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Galaxy Fox ($GFOX) Pulls in Over $3.3 Million From VC Investors

In the past few weeks, Galaxy Fox ($GFOX) has seen a surge of interest from VC investors. This has translated into the team raising over $3.3 million in record time, making it one of the best ICO presales of 2024.

VC investors have shown massive support for this project largely because of its ecosystem that promises to reshape the meme coin space. Galaxy Fox solves the most talked about problem of meme coins, a lack of utility. It has achieved this by building a blockchain gaming ecosystem.

Galaxy Fox features a web 3 runner play-to-earn game, a marketplace, some of the coolest NFT collections, a merchandise store, and $GFOX. As a meme coin, the project maintains its community drive by rewarding users for their involvement in all facets of its ecosystem.

In terms of tokenomics, $GFOX, an ERC20 coin, is likewise better than $PEPE, $DOGE, and $SHIB. There are just 5 billion tokens available overall. The company wants to make $GFOX one of the best meme coins to buy by scarcity-limiting its quantity.

To further strengthen its market potential, the team has also incorporated a deflationary model via token burning. This means that the total number of $GFOX tokens in circulation will be reduced over time to increase its price. This, in addition to its revolutionary meme coin model, is what makes $GFOX one of the best cryptocurrencies to invest in at the moment. 

Closing Thoughts

While the MicroStrategy purchase highlights Bitcoin as the top investment option, venture capitalists are also turning their attention to new meme coins like Galaxy Fox. Already, $GFOX has seen a 200% price increase to rally to $0.00198 per coin. However, crypto experts have forecasted gains of more than 100x when its platform launches.

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