US stocks closed lower yesterday (5/5), with the S&P 500 index dropping 0.64%, ending a 9-day winning streak. The New Taiwan dollar against the US dollar exchange rate recorded its largest increase since the central bank began tracking, leading the rise among all Asian currencies, causing users to rush in and exchange, resulting in a nationwide online banking system crash. Meanwhile, BTC reserve strategy pioneer MicroStrategy Strategy (formerly MicroStrategy) issued new shares to buy 1,895 BTC, bringing its total holdings to 555,450 BTC.
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ToggleTaiwan Dollar Rises Nearly 10% in One Month, Leading All Asian Currencies
After creating the largest increase since the central bank began tracking last Friday (5/2), the New Taiwan dollar against the US dollar continued to soar on Monday, reaching a high of 29.59 during the day. Although the afternoon gains were tempered, it closed at 30.145, rising 1.872 in just two trading days, an increase of 6.21%.
Among the 16 major currencies tracked by Bloomberg, the Taiwan dollar once reached its largest increase in over 30 years. The Japanese yen rose about 0.9%, the euro broke through the 1.13 mark against the US dollar, while the Chinese market was closed for holidays.
Taiwan Central Bank Governor Yang Jin-long held a press conference yesterday, signaling that the unusual foreign exchange market situation should "stop here" and pointing out that vulture investors are waiting to speculate.
Yang stated that the New Taiwan dollar exchange rate is determined by market supply and demand, and under normal circumstances, supply and demand would be in a normal state. However, this time it is clearly driven by strong market expectations. "In my personal opinion, this is excessive fluctuation and is not good."
He further emphasized that there was no US pressure on the exchange rate, and the central bank was not involved in Taiwan-US negotiations and did not discuss exchange rate issues.
MicroStrategy Strategy Buys 1,895 BTC Again
BTC reserve strategy pioneer MicroStrategy Strategy has bought BTC again, announcing that between April 28 and May 4, it spent approximately $180.3 million to purchase 1,895 BTC, with an average purchase price of about $95,167.
As of May 4, Strategy and its subsidiaries hold a total of 555,450 BTC, with an average purchase price of around $68,550.
This time, they raised $180.3 million by issuing common stock MSTR and preferred stock STRK, which was entirely used to purchase BTC.
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