Nasdaq-listed Microstrategy has acquired 11,931 more bitcoins for $786 million, raising its total cryptocurrency holdings to 226,331 bitcoins, valued at $8.33 billion with an average purchase price of $36,798 per coin. The acquisition was funded through proceeds from a private offering of convertible senior notes that offer a 2.25% annual interest rate. MSTR Now Hodls…
Read more
Arthur Hayes, the founder and former CEO of Bitmex, recently shared his insights on the future of global financial markets in a blog post. Hayes delves into the impact of central bank policies on the global economy, emphasizing the role of interest rates and inflation targets. Bitmex Founder’s Perspective on Global Finance and Bitcoin In…
Read more
Jim Cramer, the host of CNBC’s Mad Money show, has endorsed ethereum and spot ether exchange-traded funds (ETFs), highlighting the cryptocurrency as a “great store of value” amid concerns over the U.S. dollar due to federal budget deficits. “I have ether because it’s a great store of value,” he affirmed. Jim Cramer on Ethereum and…
Read more
According to Wang Yang and Wen Yizhou, a stablecoin issued by the Hong Kong government has the potential to become an international currency and may challenge the U.S. dollar in certain places. However, in their latest opinion piece, Yang and Yizhou said the envisaged stablecoin will only succeed if Hong Kong acts before the currency’s…
Read more
Bullish investors profit from rising markets, bearish investors profit from falling markets, while “pigs,” often suffer losses in risky conditions. Crypto market’s volatility and potential for profit and loss The crypto market is known for its high volatility, which refers to the rapid and unpredictable price fluctuations of cryptocurrencies. Market sentiment, recent news events, regulation…
Read more
According to a July 4, 2023 press release from the Danish Financial Supervisory Authority, Denmark’s Saxo Bank has been instructed to liquidate its holdings of cryptocurrency assets. The financial regulator maintains that Saxo Bank’s portfolio of crypto assets falls “outside the legal business area of financial institutions” and is in violation of the country’s Financial…
Read more
According to the CME Group Fedwatch tool on Thursday, there was a 51% probability of a quarter-point rate increase during the upcoming Federal Open Market Committee (FOMC) meeting on June 14. Just a fortnight ago, the Fedwatch tool indicated a slim possibility of the federal funds rate reaching 5.50% next month. The following day on…
Read more
Investors believe it is highly likely that the target rate will remain unchanged at the June 14 Federal Open Market Committee (FOMC) meeting, following the U.S. Federal Reserve’s decision to increase the federal funds rate by 25 basis points on May 3. As the battle against inflation in the U.S. rages on, the Biden administration…
Read more
The BRICS bloc is now focused on expanding the use of the currencies of its members, according to the representative of one of them. The establishment of a single currency for the group is not an immediate task at this point in time, the diplomat indicated in an interview. Wider Use of National Fiats of…
Read more
After the most recent increase in the federal funds rate, the U.S. Federal Reserve is set to raise the lending rate by 25 basis points (bps) to 5.25% in three days, according to expectations. A recent poll of 105 economists revealed that 94 of them predict a 25bps rate hike will occur during the May…
Read more
