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The Daily: FTX co-founder Gary Wang avoids prison time, BlackRock's Bitcoin ETF sees unprecedented first-day options trading and more

FTX co-founder Gary Wang avoided prison time at a sentencing hearing on Wednesday, according to Inner City Press and Reuters. BlackRock’s IBIT spot Bitcoin ETF achieved nearly $1.9 billion in notional exposure during its first day of options trading on Tuesday. Bernstein analysts named Robinhood the top “crypto deregulation trade,” following Donald Trump’s election win this month, raising their HOOD share price target to $51 — around 45% upside potential. The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

theblock.co • 20/11/2024 - 18:54 PM

MicroStrategy upsizes convertible senior note offering to $2.6 billion to acquire more bitcoin

MicroStrategy has upsized its latest convertible senior note offering from $1.75 billion to $2.6 billion. The firm intends to use the net proceeds from the offering to “acquire additional bitcoin and for general corporate purposes.”

theblock.co • 20/11/2024 - 14:02 PM

MICROSTRATEGY

Wall Street giants are loading up on MicroStrategy shares, as MSTR outperforms bitcoin year-to-date

MicroStrategy holds 331,200 BTC worth $29.7 billion, attracting significant institutional investment and outpacing bitcoin price increase with 450% gain in stock value.

theblock.co • 18/11/2024 - 23:10 PM

MICROSTRATEGY

DeFi Technologies aims to replicate MicroStrategy's success with upcoming CoreFi Strategy launch

DeFi Technologies plans to launch CoreFi Strategy in 2025, providing investment access to bitcoin staking and exposure to Core's assets.

theblock.co • 14/11/2024 - 11:00 AM

The Daily: Bernstein says 'don't fight this' amid post-election crypto surge, MicroStrategy buys another $2 billion in bitcoin and more

Bernstein forecasts a crypto bull market post-Trump's election; MicroStrategy buys more Bitcoin; FTX sues Binance; Delta Prime faces security issues; user loses $25 million in a transaction error.

theblock.co • 11/11/2024 - 19:18 PM

Coinbase, bitcoin miners rally as Trump's presidential win drives bitcoin to new highs and boosts crypto stocks

U.S. markets and Bitcoin surged following Donald Trump's election win; Coinbase and crypto stocks saw significant gains, while trading volumes hit records on platforms like Robinhood.

theblock.co • 06/11/2024 - 21:29 PM

MICROSTRATEGY

MicroStrategy's audacious $42 billion capital plan is a 'win for all,' analysts say

Benchmark analyst Mark Palmer credits MicroStrategy’s premium stock valuation — currently 2.7x its net asset value — to its unique compounding strategy. MicroStrategy now aims to accumulate a total of 412,220 bitcoins by the end of 2025.

theblock.co • 31/10/2024 - 18:34 PM

MICROSTRATEGY

MicroStrategy announces plan to raise $42 billion to buy more bitcoin

MicroStrategy reports a 5.1% increase in BTC Yield, plans to raise $42 billion, and holds 252,220 bitcoins, despite a net loss of $340.2 million in Q3.

theblock.co • 30/10/2024 - 20:47 PM

MICROSTRATEGY

MicroStrategy's leveraged bitcoin strategy has its stock outpacing BTC this year

MicroStrategy's MSTR stock has increased nearly 250% year-to-date, outperforming Bitcoin due to its significant corporate holdings and strategic positioning in the cryptocurrency market.

theblock.co • 28/10/2024 - 19:55 PM

The Daily: Microsoft set to vote on bitcoin investing, MicroStrategy 'highly unlikely' to be forced to sell its holdings and more

Microsoft may invest in bitcoin, MicroStrategy unlikely to sell its holdings, increased demand for bitcoin call options, and a decline in revenue for Farcaster.

theblock.co • 25/10/2024 - 17:26 PM

Currency