MicroStrategy’s BTC Acquisition Fuels Market Optimism
Shifting focus to BTC, MicroStrategy (MSTR) founder and Chairman Michael Saylor introduced a major BTC acquisition, saying,
“MicroStrategy has acquired 51,780 BTC for ~$4.6 billion at ~$88,627 per bitcoin and has achieved BTC Yield of 20.4% QTD and 41.8% YTD. As of 11/17/2024, we hodl 331,200 BTC acquired for ~$16.5 billion at ~$49,874 per bitcoin.”
The information drove BTC to a Monday session excessive of $92,549 earlier than easing again. Later within the session, Saylor additionally hinted at one other BTC acquisition, announcing,
“MicroStrategy Publicizes Proposed Non-public Providing of $1.75B of Convertible Senior Notes.”
US BTC-Spot ETFs Eye Inflows as Traders React to MicroStrategy’s News
Optimistic sentiment towards a possible shift within the US crypto regulatory panorama and information of MicroStrategy’s BTC buy drove demand for US BTC-spot ETFs. In response to Farside Traders:
- On Monday, November 18, Constancy Smart Origin Bitcoin Fund (FBTC) reported web inflows of $60.0 million. (Earlier day: -$175.1 million).
- Grayscale Bitcoin Mini Belief ETF (BTC) had web inflows of $54.4 million. (Earlier day: -$47.0 million).
- Bitwise Bitcoin ETF (BITB) noticed web inflows of $24.4 million, whereas ARK 21Shares Bitcoin ETF (ARKB) had web inflows of $13.2 million.
Excluding stream knowledge for iShares Bitcoin Belief (IBIT) and Invesco Galaxy Bitcoin ETF (BTCO), the US BTC-spot ETF market had $165.5 million of web inflows. Considerably, the US BTC-spot ETF market ended a two-day outflow streak regardless of falling bets on a December Fed charge lower. US BTC-spot ETF stream developments proceed influencing BTC’s supply-demand stability and worth developments.
Bitcoin (BTC) Value Motion
On Monday, BTC gained 1.17%, reversing a 0.73% loss from Sunday, closing at $90,510.
Elevated demand and Trump’s crypto pledges will seemingly mitigate oversupply risk, doubtlessly supporting a BTC transfer to $100,000.
Trump’s proposed US Treasury Secretary and SEC Chair may very well be pivotal, particularly along with his plans to designate BTC as a strategic reserve asset. The US authorities at the moment holds 208,109 BTC in its crypto stockpile, equal to $18.97 billion.
Keep tuned for the most recent on how market shifts and regulatory developments influence crypto property.
