Latest news with #BTC-USD
Yahoo
9 hours ago
- Business
- Yahoo
As more companies pivot into crypto, who's buying bitcoin?
Public companies — especially Strategy (MSTR) — now hold over 3% of the bitcoin (BTC-USD) in circulation, according to Bernstein data. Yahoo Finance senior reporter David Hollerith sits down with the Market Domination Overtime team to speak more on the latest crypto-buying trends from major companies. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. Public companies are increasing their Bitcoin exposure and now hold more than 3% of all bitcoins in circulation. That's according to analysis from Bernstein Research. They say imitation is this is flattering, and if this trend comes on the heels of the business software company strategies, crypto buying, of course. To explain more about who's buying crypto and why, senior reporter David Hollerth is joining us. That's everybody's trying to follow the Michael Saler playbook now. Yeah, exactly. I mean, uh, why wouldn't you seeing the rise in Bitcoin at this point and you know it's an interesting, uh, dynamic. There's a premium premium between Bitcoins or excuse me, uh, strategies, uh. Market cap and the amount of bitcoins it holds and other companies that have done this even this year have also seen that but not all of them have so in some sense the investors that are putting money into this or the companies themselves are kind of uh it's seemingly magically creating money so that's obviously an interesting dynamic from just an overall market's perspective and you know we're paying a lot of attention to the companies and we've seen a little bit of investors. Limits to this trend last week GameStop and uh the president's namesake uh media company both uh reported doing these kind of strategies and uh or at least plans to, and their stocks dropped on the day so it's kind of an interesting trend to pay attention to, right? And we've seen strategies sometimes on individual days drop when it says it's sort of raising capital if investors view that as dilute of whatever they're doing, but you mentioned that. Premium, which is the thing that I guess other companies that are doing this are chasing, right? They want to get that to trade even better than Bitcoin has. What have you gotten in terms of explanations of why strategy trades at that premium to Bitcoin? Yeah, that's a good question. Um, I think it has to do with the fact that they take on a fair amount of leverage by issuing debt and then on top of that it's some sort of forward indication about the price of Bitcoin. And how well, uh, strategy and Michael Saylor are going to continue to accumulate it in the future that's the best explanation I have but if you look at a financial or an economics textbook, you're not gonna get a clear answer like that. So no, well, nor are you for Bitcoin in general, I suppose.
Yahoo
10 hours ago
- Business
- Yahoo
As more companies pivot into crypto, who's buying bitcoin?
Public companies — especially Strategy (MSTR) — now hold over 3% of the bitcoin (BTC-USD) in circulation, according to Bernstein data. Yahoo Finance senior reporter David Hollerith sits down with the Market Domination Overtime team to speak more on the latest crypto-buying trends from major companies. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
Yahoo
2 days ago
- Business
- Yahoo
Ethereum Just Got Its Michael Saylor -- And Wall Street Is Paying Attention
Shares of SharpLink (NASDAQ:SBET) have surged nearly 1,000% after announcing plans to become an Ether treasury company, echoing the playbook that turned Strategy (NASDAQ:MSTR) into a crypto market darling. The firm raised $425 million in a private placement to accumulate Ether, with Ethereum co-founder Joe Lubin stepping in as chairman. The deal was led by Consensys, Lubin's software infrastructure company, and has investors asking if this could be the beginning of a broader Ether-driven capital markets trend. Warning! GuruFocus has detected 8 Warning Signs with SBET. Lubin's conviction appears to have been shaped by a conversation with Bitcoin (BTC-USD) bull Michael Saylor six months ago. While Saylor turned Bitcoin into digital gold for balance sheets, Lubin sees untapped potential in Etherespecially as staking introduces a yield component. We'll take in more capital to buy Ether, Lubin noted, citing the possibility of share or bond issuance, but emphasized a cautious approach. Unlike earlier cycles fueled by hype, Lubin insists the focus is long-term ecosystem value, not speculation. With Bitcoin up roughly 11% year-to-date and Ether still down around 26%, some investors are beginning to reconsider the relative value of Ethereum's platform. Lubin believes Ether could play a central role in a more decentralized global economyand he's not alone. Other companies are reportedly exploring similar strategies. If this momentum builds, Ether might not just power decentralized apps but start showing up on more corporate balance sheets, much like Bitcoin did in 2020. This article first appeared on GuruFocus.
Yahoo
4 days ago
- Business
- Yahoo
May stock gains, June watchlist, bitcoin: Market Takeaways
US stocks (^DJI, ^IXIC, ^GSPC) capped off a historic May trading month with serious gains, the Nasdaq Composite ending the month over 9.5% higher and the S&P 500 seeing its best May since 1990. Yahoo Finance markets and data editor Jared Blikre comes on Asking for a Trend to outline the month's biggest market themes, including what to expect in June and bitcoin's (BTC-USD) price moves. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Bitcoin price slips as Fed minutes flag US inflation risks
Bitcoin (BTC-USD) dipped by around 1% on Thursday, following the release of minutes from the Federal Reserve's May policy meeting, which revealed mounting concern over persistent US inflation and the potential for economic slowdown. Bitcoin was hovering just below $108,000 (£80,244). The dip comes shortly after bitcoin set a new all-time high above $111,000 on 22 May. The minutes from the 6-7 May Federal Open Market Committee (FOMC) meeting showed Fed officials warning they may soon face 'difficult tradeoffs' as inflation remains stubbornly high and unemployment begins to rise. Read more: Crypto live prices Officials also highlighted risks to financial stability, pointing to recent bond market volatility and cautioning that shifting perceptions of the US dollar's safe-haven status could have lasting repercussions for the global economy. The broader cryptocurrency market also fell on Thursday, with total market capitalisation falling more than 2% to around $3.54tn, according to data from CoinGecko. 'This week's FOMC minutes and the upcoming Core PCE inflation data arrive at a fragile moment for macro-driven assets like Bitcoin,' Bitfinex head of derivatives Jag Kooner said. 'Traders aren't just watching for signals on interest rates, they're looking for insight into how the Fed interprets inflation risks in light of new tariff policies, particularly after the US imposed a 50% levy on EU imports.' Read more: How Trump and Melania meme coins are performing after 100 days US equities also edged lower Wednesday. The S&P 500 (^GSPC) slipped 0.6% but remains within 4.2% of its all-time high. The Dow Jones Industrial Average (^DJI) fell 244 points (0.6%), and the Nasdaq Composite (^IXIC) declined by 0.5%. The market lull came ahead of Nvidia's (NVDA) eagerly anticipated earnings release, which was published after market close on Wednesday. Nvidia shares dipped 0.5% ahead of the report. Despite Wednesday's decline, sentiment improved in overnight trading. Futures pointed to a strong open on Thursday in New York as Dow futures were up 1.16%, S&P 500 futures gained 1.47%, and Nasdaq futures jumped 1.82%. US stock futures rose following a landmark decision by a US trade court on Wednesday that struck down most of president Donald Trump's "Liberation Day" tariffs, ruling he had exceeded his authority by imposing broad duties on imports from key trading partners. The Court of International Trade found that the US Constitution grants Congress exclusive power to regulate foreign commerce, a power not overridden by the president's emergency authority to protect the domestic economy. Bitcoin's price movements this week coincide with the annual Bitcoin Conference, currently underway in Las Vegas, where US vice president JD Vance addressed a crowd of crypto enthusiasts. In a speech on Wednesday, Vance said that China's skepticism toward bitcoin should motivate the US to embrace the digital asset and build on its strategic edge in the sector. China has banned crypto trading and mining since 2021. 'The People's Republic of China doesn't like bitcoin. Well, we should be asking ourselves, why is that? Why is our biggest adversary such an opponent of bitcoin, and if the communist Republic of China is leaning away from bitcoin, then maybe the United States ought to be leaning into bitcoin,' he said. As the White House pushes for an overhaul of crypto policy, Vance said bitcoin will be a strategically important asset for the US over the next decade. He also praised Trump's March executive order establishing a strategic bitcoin reserve using tokens already held by the US government. Digital assets have seen a resurgence under Trump, who has actively courted support from the crypto industry, pledging during his campaign to be a 'crypto president.' Meanwhile, traditional finance continues to deepen its ties to crypto. Investment management company BlackRock (BLK) is reportedly planning to acquire around 10% of the shares offered in USDC stablecoin issuer Circle Internet Financial's upcoming IPO, according to sources familiar with the matter, as reported by Bloomberg. Circle, the issuer of the USDC stablecoin, filed for a public listing on the New York Stock Exchange on 27 May The offering includes 24 million Class A shares, 9.6 million from the company and 14.4 million from existing shareholders. The IPO aims to raise up to $624m, with Cathie Wood's Ark Invest also expressing interest in purchasing up to $150m worth of shares. The underwriters have a backup option to sell up to 3.6 million extra shares if the IPO is well received, which helps manage volatility and investor demand. Read more: Why pension funds are buying bitcoin What we know about Elon Musk's controversial blockchain vision for US How AI could change the internetSign in to access your portfolio
