Re: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’
Coinbase, Strategy, Other Bitcoin and Crypto Stocks Soar in Record-Setting Week
Crypto-focused companies benefited from the surge in crypto markets this week.
Bitcoin hit new highs on Thursday and Friday.
Coinbase, major miners, and a number of Nasdaq-listed crypto companies also shot up.
BlackRock's spot Bitcoin exchange-traded fund hit a record high during the week.
Strategy, formerly known as MicroStrategy, closed at $434.58. The software company, which pivoted to become a Bitcoin treasury in 2020, holds nearly 600,000 bitcoin worth approximately $70 billion.
Among leading Bitcoin miners, CleanSpark (CLSK) and Riot Platforms (RIOT) rose 8% and 7%, respectively over the past week. Earlier this month, those firms and MARA all reported declines in June Bitcoin production.
Crypto-focused exchange traded funds also thrived with BlackRock's iShares Bitcoin Trust (IBIT) closing near its all-time high. On Thursday, the spot Bitcoin fund reached $80 billion in assets under management, faster than any ETF in that industry's 32-year history, according to Bloomberg data. IBIT's share price rose 9% during the week, while the iShares Ethereum Trust (ETHA) jumped more than 17% for the period.
Bitcoin hit a new all-time high this week on following comments by crypto-friendly President Trump that the economy and stock market in general was doing well and that the Federal Reserve should now lower interest rates.
https://decrypt.co/329740/coinbase-strategy-bitcoin-and-crypto-stocks-soar-record-week
It is natural that the rise in the market enables institutional investors to increase the value of stocks to a large extent, and we can also see that the strategies they are also counting on are yielding a percentage of profit. At this point, it can be said that the more Bitcoin's price increases, the more this company will continue to win, In other words, it can be said that the strength of this company lies in equity leverage because when the price of Bitcoin increases, their stock will definitely continue to turn a profit. By the way they have now updated their Strategy.com with powerful new futures already.Crypto-focused companies benefited from the surge in crypto markets this week.
Bitcoin hit new highs on Thursday and Friday.
Coinbase, major miners, and a number of Nasdaq-listed crypto companies also shot up.
BlackRock's spot Bitcoin exchange-traded fund hit a record high during the week.
Strategy, formerly known as MicroStrategy, closed at $434.58. The software company, which pivoted to become a Bitcoin treasury in 2020, holds nearly 600,000 bitcoin worth approximately $70 billion.
Among leading Bitcoin miners, CleanSpark (CLSK) and Riot Platforms (RIOT) rose 8% and 7%, respectively over the past week. Earlier this month, those firms and MARA all reported declines in June Bitcoin production.
Crypto-focused exchange traded funds also thrived with BlackRock's iShares Bitcoin Trust (IBIT) closing near its all-time high. On Thursday, the spot Bitcoin fund reached $80 billion in assets under management, faster than any ETF in that industry's 32-year history, according to Bloomberg data. IBIT's share price rose 9% during the week, while the iShares Ethereum Trust (ETHA) jumped more than 17% for the period.
Bitcoin hit a new all-time high this week on following comments by crypto-friendly President Trump that the economy and stock market in general was doing well and that the Federal Reserve should now lower interest rates.
https://decrypt.co/329740/coinbase-strategy-bitcoin-and-crypto-stocks-soar-record-week
