Short open interest for leveraged funds grows on CME as likely hedge trades continue to increase.
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Author: Zack Voell
The country’s income tax authority is tracking investors making money amid the ongoing bitcoin price rally and is all set to demand taxes, two sources familiar with the matter told The Economic Times.
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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.
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Author: MK Manoylov
A new crypto outlook from Bloomberg suggests BTC could reach $50,000 in 2021, topping off a month of major institutional momentum for the asset.
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Author: Nathaniel Whittemore
Chinese e-commerce firm JD.Com says it’s become the first online platform to accept the nation’s central bank digital currency.
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Author: Daniel Palmer
House Financial Services Chair Maxine Waters told President-elect Joe Biden to undo the OCC’s crypto guidance after he takes office next year.
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Author: Nikhilesh De
MicroStrategy’s share prices have increased over 170% since the company first announced its interest in bitcoin in July.
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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.
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Author: Michael McSweeney
Donations in dai, USDC, and ether were sent to Coin Center via Gitcoin.
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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.
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Author: Andreas Nicolos