Latest news with #Bitbo
Business Mayor
23-04-2025
- Business
- Business Mayor
BlackRock's Bitcoin ETF IBIT Hit $4.2 Billion in Trading Volume as Bitcoin Price Surpasses $91,000
BlackRock's spot Bitcoin ETF, IBIT, recorded a massive $4.2 billion in trading volume today as the price of Bitcoin soared above $91,000 for the first time since early March. According to data from Barchart, IBIT traded a staggering 81,098,938 shares, ending the trading session at a price of $52.08. The surge in ETF activity comes on the same day Bitcoin climbed to $91,739, according to Bitbo. This marks the highest price level since April 8, when Bitcoin hit a low of $75,603. The strong upward momentum signals renewed buying pressure in the market, particularly from institutional investment products like spot ETFs. Fidelity's spot Bitcoin ETF, FBTC, also saw significant trading activity, with $425.17 million in volume. Meanwhile, Grayscale's GBTC posted $250.91 million, Ark Invest's ETF recorded $170 million, and Bitwise's fund traded $120 million over the day. Earlier in the day, BlackRock's IBIT also reached an all-time high when measured against the Nasdaq index, a noteworthy milestone indicating the growing strength and investor confidence in the fund and Bitcoin. High-volume trading days such as this where the price of BTC surges up often reflects strong inflows. However, the official figures for net inflows and outflows for today's ETF activity will not be available until later this evening as the wealth managers publicize them. As Bitcoin's price continues to trend upward and ETF products show strong trading volumes, the market is now being shaped not just by investor speculation, but also by fundamental demand from corporate and institutional buyers. The impact of regulated financial products like spot ETFs is being amplified by a growing wave of corporate adoption. In addition to institutional interest via ETFs, public companies are increasingly turning to Bitcoin as a reserve asset. Michael Saylor's Strategy has continued to aggressively acquire BTC, most recently announcing the purchase of 6,556 more coins. Semler Scientific has also joined the trend, reaching over 1,100 BTC in holdings and recently filing to raise another $500 million to buy more. GameStop is preparing to enter the market as well, having raised $1.5 billion for a Bitcoin treasury strategy dubbed 'Project Rocket.' These corporate moves are injecting additional demand into the market, further contributing to upward price momentum. Together, the surge in ETF activity and rising corporate adoption appear to be forming a powerful feedback loop, helping to push Bitcoin's price to new highs. While final inflow data for today's ETF trading will arrive later this evening, the combined impact of institutional buying and balance sheet strategies from publicly traded companies is reinforcing Bitcoin's status as both an investment asset and a long-term store of value. READ SOURCE
Yahoo
31-03-2025
- Business
- Yahoo
MARA Holdings Announces $2 Billion Stock Offering To Expand Bitcoin Holdings
MARA Holdings Inc. (MARA), a prominent Bitcoin mining company, has announced plans to offer up to $2 billion in stock to finance additional Bitcoin purchases. This strategic move, disclosed in a March 28 Form 8-K and prospectus filed with the U.S. Securities and Exchange Commission (SEC), will be facilitated through an at-the-market agreement with investment firms, including Cantor Fitzgerald and Barclays. The company stated that the net proceeds from the stock offering will be allocated for general corporate purposes, primarily focusing on Bitcoin acquisitions and working capital. MARA Holdings, previously known as Marathon Digital, aims to bolster its position in the cryptocurrency market, following a strategy similar to that employed by Michael Saylor, the executive chair of MicroStrategy. As of writing, MARA Holdings ranks second among public companies in Bitcoin holdings, with approximately 46,374 BTC valued at around $3.9 billion, according to Bitbo data. This positions the company closely behind MicroStrategy, which holds over 506,000 BTC, worth about $42.4 billion. In a notable commitment to its Bitcoin strategy, CEO Fred Thiel previously declared that the company would not sell any of the Bitcoin it mines, opting instead for a "full HODL" approach while continuing to acquire more cryptocurrency for reserves. The recent stock offering follows a similar initiative from the previous year, where MARA sought to raise up to $1.5 billion through share sales. In November, the company issued $1 billion in zero-coupon convertible senior notes, with most proceeds earmarked for Bitcoin purchases. On March 28, shares of MARA closed at $12.47, reflecting an 8.58% decline. Following the announcement, the stock fell further to $11.89 during overnight trading on March 30.
