Bengaluru, India, 25th November 2024, Chainwire
In a significant development for the cryptocurrency sector, WisdomTree, a globally recognized ETF provider, has announced the registration of an XRP ETF in Delaware. This update was confirmed by FOX
Business intelligence firm MicroStrategy has significantly increased its Bitcoin (BTC) purchases this month in response to the bullish sentiment following President-elect Donald Trump’s victory on November 5. The company’s recent acquisitions have pushed its total Bitcoin holdings to approximately $38 billion. Convertible Notes Fuel Massive Bitcoin Purchase On November 25, co-founder Michael Saylor announced via social media that MicroStrategy had acquired 55,500 BTC between November 18 and November 24 for $5.4 billion. This purchase was funded by proceeds from a $3 billion convertible note issuance and sales of common shares, as detailed in a filing with the US Securities and Exchange Commission (SEC). Related Reading: XRP Price Builds a Base: Can Bulls Ignite a New Rally? Since beginning its Bitcoin acquisition strategy in 2020, Saylor has shifted from using corporate cash to a more complex funding model that involves selling convertible debt and shares. The latest convertible note was issued at a zero percent interest rate, reflecting lenders’ confidence that MicroStrategy’s stock will appreciate beyond the conversion price in the future. Jeffrey Park, a portfolio manager at Bitwise Asset Management, noted that Saylor has effectively leveraged financial arbitrage within the corporate treasury structure, allowing MicroStrategy to borrow funds at virtually no cost. Saylor also revealed that MicroStrategy’s treasury operations have yielded a substantial 59.3% in Bitcoin returns year-to-date, translating to a net gain of approximately 112,125 BTC for shareholders, or about 341 BTC per day. At a projected price of $100,000 per BTC, Saylor stated that this could mean an impressive $11.2 billion for the year, equating to roughly $34.1 million daily. Analyst Warns Of Risks In Leverage Strategy Since its foray into Bitcoin, MicroStrategy has acquired a total of 386,700 tokens, with an average purchase price significantly lower than its current market value. The latest acquisitions occurred while Bitcoin prices were nearing all-time highs, with the company purchasing the new tokens at approximately $97,862 each, slightly above their current trading price. Related Reading: Solana (SOL) Bulls Stay in Control: Rally Far From Over? However, this leveraged strategy has raised concerns among some analysts, particularly after MicroStrategy’s shares (MSTR) fell by 16% last Thursday. Critics warn that if Bitcoin’s price declines sharply, the company’s stock could suffer similarly, recalling the downturn in 2022 when the cryptocurrency market experienced significant losses. TD Cowen analyst Lance Vitanza remarked on the risks associated with leverage, stating, “When you apply leverage to anything, you amplify the returns both in the up direction and in the down direction.” He emphasized that MicroStrategy is a pioneer in applying this leverage strategy specifically to Bitcoin. At the time of writing, the market’s leading crypto is trading at $95,350, registering a price decrease of 1.7% in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com
Bengaluru, India, 25th November 2024, Chainwire
Dogwifhat (WIF), a prominent meme coin based on Solana, has gained attention after being listed on the Robinhood…
In a breaking news report, crypto journalist Eleanor Terrett reported that WisdomTree has filed for an XRP Spot ETF in Delaware. This does not constitute an endorsement. Terrett added that he had verified the recording from company sources. *This is not investment advice. Continue Reading: BREAKING: WisdomTree Registers XRP Spot ETF in Delaware
The post Ripple News: $3.8B Tokenized Fund Launches on XRPL appeared first on Coinpedia Fintech News Ripple and Archax just made a big move that could change how institutional finance works. Together, they’ve launched the first ever tokenized money market fund on the XRP Ledger (XRPL). It’s based on abrdn’s $3.8 billion US Dollar Liquidity Fund, and it’s a huge deal for anyone watching the rise of tokenized assets. A Major …
As blockchain technology continues to transform industries worldwide, certain cryptocurrencies stand out as exceptional opportunities for long-term growth. If you’re seeking the best long-term investments for 2024, Qubetics, Cardano, Avalanche, Polkadot, and Near Protocol should be at the top of your list. These projects drive innovation in decentralisation, scalability, and interoperability, making them key players The post The Ultimate Top Cryptos to Join Now | Best Long-Term Investments for 2024 appeared first on Times Tabloid .
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Amid rising interest, new theories suggest Satoshi Nakamoto could still be influencing Bitcoin markets through strategic wallet activity. Recent analyses reveal significant transactions from early Bitcoin wallets, raising questions about