Tag: Stock

MicroStrategy’s MSTR stock jumps 23% as it unveils $600m offering to buy more Bitcoin

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The largest corporate holder of Bitcoin, MicroStrategy, is about to become even larger with the latest $600 million offering in convertible notes to buy more crypto. MicroStrategy wants to sell $600 million in convertible senior notes to buy more Bitcoin (BTC) as the largest crypto by market capitalization nears its all-time high. According to a press release on MicroStrategy’s official website, the latest offering due 2030 will be to qualified institutional buyers only. The Virginia-headquartered business analytical software provider also plans to grant initial purchasers of the notes an option…

Bloomberg Strategist Sees Bitcoin as Global Alternative Currency — Warns Stock Market Drawdown Could Impact BTC

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Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, says bitcoin is “becoming an alternative currency on a global basis,” noting that “The world’s going towards intangible assets and bitcoin is the most significant in cryptos.” However, the strategist warned that as bitcoin’s price approaches $70,000, a key test for the cryptocurrency may come “when the U.S. […] Original

Peruvian Stock Exchange Announces Bitcoin Spot ETF Listings

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The Lima Stock Exchange, the main Peruvian exchange, announced the inclusion of three different bitcoin spot ETF instruments in its trading platform. Ishares Bitcoin Trust (IBIT), Vaneck Bitcoin Trust (HODL), and Invesco Galaxy Bitcoin (BTCO) will be the instruments made available for Peruvians, which come to diversify the investment options for traditional investors in the […] Original

Bitcoin miner Marathon’s stock jumps 20% ahead of Q4 earnings report

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Marathon’s shares surged by more than 20%, fueled by investor optimism ahead of the forthcoming earnings report. Anticipation surrounding Marathon‘s financial performance, particularly in the wake of Bitcoin’s recent price surge, has fueled significant investor interest. The bullish sentiment was evident as Marathon’s stock (MARA) on Nasdaq surged by 21% to $29 as of Feb. 27, according to data from Google Finance. MARA stock price in USD | Source: Google Finance Analysts from Zacks Investment Research are forecasting Q4 revenues to reach $138.2 million, reflecting a staggering increase of over…

Bill Ackman and wife Neri Oxman buy stake in Tel Aviv Stock Exchange

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Bill Ackman, founder and CEO of Pershing Square Capital Management. Adam Jeffery | CNBC Hedge fund billionaire Bill Ackman and his wife Neri Oxman are buying a nearly 5% stake in the Tel Aviv Stock Exchange, the exchange reported in a press release Wednesday. The announcement came as the Israeli bourse announced the pricing of a secondary offering of 17,156,677 shares priced at 20.60 shekels ($5.50) per share. “The transaction drew robust interest from investors across Israel, the United States, Europe, and Australia, reflecting a strong vote of confidence in…

Bitcoin ETFs have a key difference from their stock fund counterparts

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The Securities and Exchange Commission pushed for bitcoin ETFs to have a key difference from major stock funds, and that decision’s impact on how the funds trade will only become clear over time. The bitcoin funds that launched on Thursday are using a share redemption process that turns the underlying crypto into cash. Most ETFs primarily use an in-kind redemption process, where the underlying asset does not have to be actually sold. While the rules around share redemption do not directly impact the smaller trades that retail investors do in…

Cathie Wood’s Investment Firm Sells $25M of COIN Stock

ARK’s ETFs have a target weighting whereby no individual holding exceeds 10% of the fund’s total value. Having more than doubled in price in the last three months of 2023, COIN has consistently held above that threshold in both ARKK and ARKW, leading to regular sales of the crypto exchange’s stock by Cathie Wood’s firm. Source

How crypto market mirrors early stock market trends

Tracing the journey of cryptocurrencies from 1990s experiments to a multi-trillion dollar industry. Starting in the 1990s with early digital money experiments and leading up to the launch of Bitcoin (BTC) during the 2008 financial crisis, the crypto market has expanded rapidly. As of Jan. 3, the global crypto market has reached a market cap of over $1.7 trillion. Dominating this landscape is Bitcoin, which accounts for more than 50% of the total market cap. The market has grown not only in terms of market cap but also in infrastructure…