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🌙 MicroStrategy Purchased 51,780 Bitcoin for $4.6B

The company now holds 331,200 bitcoin acquired for roughly $16.5 billion and worth just shy of $30 billion.

Author

Mike Gavela
November 18, 2024

Crypto Roundup - November 18

Recent developments in the cryptocurrency sector reveal major investments and market shifts. MicroStrategy, led by Michael Saylor, has added 51,780 BTC to its holdings for $4.6 billion, bringing its total to 331,200 BTC worth $16.5 billion. This reinforces institutional confidence in Bitcoin as a long-term asset. Simultaneously, crypto markets began the week with notable declines, reflecting bearish trends in the stock market and highlighting the increasing correlation between digital assets and macroeconomic conditions. Additionally, Arca and BlockTower announced a strategic merger, aiming to strengthen their position in the token market and enhance offerings for institutional investors.

Top Stories

  • MicroStrategy acquires additional 51,780 Bitcoin for $4.6 billion, pushing its total holdings to 331,200 BTC, worth $16.5 billion.

  • Crypto markets experience significant downturn as major cryptocurrencies face price declines, influenced by bearish trends in traditional equities markets.

  • Arca and BlockTower announce a strategic merger, creating a comprehensive platform to expand access and services in the token market.

TOP STORIES

Michael Saylor's MicroStrategy Added Additional 51,780 Bitcoin for $4.6B

The company now holds 331,200 bitcoin acquired for roughly $16.5 billion and worth just shy of $30 billion.

www.coindesk.com/markets/2024/11/18/michael-saylors-microstrategy-added-additional-51780-bitcoin-for-46b

Crypto Markets Tumble As Week Starts Bearish For Stocks - "The Defiant"

Both crypto and stocks are off to a bearish start to the week.

thedefiant.io/news/markets/crypto-markets-tumble-as-week-starts-bearish-for-stocks

Arca to create ‘one-stop shop’ for investors after BlockTower merger

Arca CEO Rayne Steinberg talked to Blockworks about how the two made the decision to merge and their plans moving forward.

blockworks.co/news/arca-blocktower-merger-token-market

FUNDRAISING

OTHER HEADLINES

Why Goldman Sachs is spinning out its blockchain platform as a new firm

Plans for Goldman Sachs’ spin-out blockchain firm are still in the early stages.

www.dlnews.com/articles/web3/goldman-sachs-plans-new-blockchain-platform-with-tradeweb

Lido Co-Founders Said to Plot Competitor to Sam Altman's World Network

The new digital identity platform, Y, forgoes World Network's controversial biometric authentication for a system based on users' online activities.

www.coindesk.com/tech/2024/11/18/lido-co-founders-said-to-plot-competitor-to-sam-altmans-world-network

Frenzy Alert: JPMorgan's Bitcoin Retail Sentiment Score Hits Record High, MSTR's Call Skew Soars

A speculative frenzy seems to have gripped the market, which could lead to a sudden sentiment shift and two-way price turbulence.

www.coindesk.com/markets/2024/11/18/frenzy-alert-jpmorgans-bitcoin-retail-sentiment-score-hits-record-high-mstrs-call-skew-soars

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