Day: March 19, 2024

Microstrategy Expands Bitcoin Holdings: Acquires 9,245 BTC After Successful Convertible Note Sale

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On Tuesday, the business intelligence firm Microstrategy announced it completed a $603.75 million offering of convertible senior notes due 2031. After the announcement, Microstrategy’s founder Michael Saylor announced the company acquired 9,245 bitcoin for $623 million using the proceeds and excess cash. Microstrategy Now Holds 214,246 Bitcoin After Microstrategy announced its convertible note sale, the […] Original

Luxor Looks to Help Bitcoin (BTC) Miners Hedge Halving Risk Via New Hashrate Futures

Unlike 2021’s bull run, where growth-at-any-cost led to many unsustainable means of operating mining businesses, a much more prudent strategies will be required by the miners. The recent crypto winter has seen many large bankruptcies and dried up capital markets for the miners. Moreover, investors are now shying away from mining stocks, even as bitcoin price soared to a new all-time high, heading into the halving, as spot traded bitcoin exchange-traded funds (ETFs) are deemed better investments versus miners. Source

Grayscale’s Sonnenshein promises to drop 1.5% fees on its spot Bitcoin ETF ‘over time’

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Crypto asset management firm Grayscale with $26 billion allocated in its ETF fund GBTC plans to drop fees as its outflows reach $12 billion. Grayscale CEO Michael Sonnenshein has announced plans to reduce fees on the Grayscale Bitcoin Trust ETF (GBTC) in the coming months as the crypto market craze seems to cool off. In an interview with CNBC, Sonnenshein revealed plans to gradually decrease fees on GBTC, justifying the current 1.5% management fee by citing GBTC’s liquidity and track record compared to other exchange-traded funds (ETFs) in the market.…

Bitcoin Slumps, Liquidations Surge

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Late Monday, bitcoin (BTC) suffered a short-lived crash to as low as $8,900 on cryptocurrency exchange BitMEX while prices on other exchanges held well above $60,000. The slide began at 22:40 UTC, and within two minutes prices fell to $8,900, the lowest since early 2020, according to data from charting platform TradingView. The recovery was equally quick, with prices rebounding to $67,000 by 22:50 UTC. Throughout the boom-bust episode on BitMEX, BTC’s global average price was around $67,400. Some observers on social media platform X say that selling by a…

Top Reasons Why The Bitcoin Price Crashed Below $63,000

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The flagship cryptocurrency, Bitcoin, dropped below the $63,000 mark in the last 24 hours and is currently on a price correction, having recently hit a new all-time high (ATH) of $73,750. This price dip is believed to be due to several factors, including the Bitcoin Halving, which is fast approaching.  Bitcoin Price Is In The Second Phase Of The Halving Trend Crypto trader and analyst Rekt Capital recently provided insights into the four phases of Bitcoin Halving, which provides a plausible explanation for Bitcoin’s recent decline. He suggested that Bitcoin…

Citi and Brazilian Development Bank Join Hyperledger Foundation

“When global financial organizations like DTCC, Citi, Visa and more step up to collaborate together under this open WG, I believe the market understands the importance of this technology to the financial industry and how working collaboratively in the open under a foundation like ours will drive faster and better outcomes,” said Daniela Barbosa, executive director at the Hyperledger Foundation. Source