Go to Source
Author: Omkar Godbole
The average daily trading volume of Grayscale’s Bitcoin Investment Trust (GBTC) product grew over 165% in November compared to the previous month, according to data compiled by The Block.
November’s average volume of GBTC was $254.41 million compared to October’s average volume of $95.87 million. November saw the second-highest month ever, shadowed only by December 2017’s trading volume of $422.95 million.
Seven of the top 20 trading days were in November 2020, though the highest were still in 2017.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Go to Source
Author: MK Manoylov
Go to Source
Author: Nathaniel Whittemore
Go to Source
Author: Daniel Palmer
Go to Source
Author: Nikhilesh De
Go to Source
Author: Danny Nelson
The publicly traded business intelligence firm MicroStrategy has bought $50 million in Bitcoin.
CEO Michael Saylor disclosed the move in a late afternoon tweet on Friday.
“MicroStrategy has purchased approximately 2,574 bitcoins for $50.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $19,427 per bitcoin,” Saylor wrote in the tweet. “We now hold approximately 40,824 bitcoins.”
The move was perhaps expected, given that during its Q3 earnings call, the firm said that it would spend excess cash beyond its $50 million in day-to-day operating cash on bitcoin “subject to market conditions and business needs.”
Some back-of-the-napkin math indicates that, based on its previous purchases, MicroStrategy’s average cost per bitcoin is $11,635. All told, the total value of its bitcoin holdings is worth roughly $766.6 million.
Beyond just holding bitcoin, MicroStrategy is also looking at ways it might offer bitcoin data products and services as part of its wider business offering, as previously reported.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Go to Source
Author: Michael McSweeney
Go to Source
Author: Zack Voell
In this video The Block’s Director of Research Larry Cermak shares a comprehensive overview of stablecoins and why they will be a major driver in adoption in the next year.
This presentation was segmented into 6 parts:
- Growth in charts
- Market Structure
- User behavior
- Categorization
- Competing stablecoins
- Outlook
You can view the presentation below and download the slides directly here
This research piece is available to
members of The Block Genesis.
You can continue reading
this Genesis research on The Block.
Go to Source
Author: Andreas Nicolos
Go to Source
Author: Alyssa Hertig