Morgan Stanley has its eyes on crypto. On New Year’s Eve, the bank bought 792,627 shares (10.9%) of MicroStrategy, a company whose CEO Michael Saylor came out asone of the most ardent advocators of Bitcoin this summer.
Saylor’s investments in Bitcoin, which now total well over a billion dollars, are widely thought to have kickstarted Bitcoin’s bull run. In his wake followed a slew of high-profile institutional investors, among them MassMutual and Anthony Scaramucci’s SkyBridge.
Since Saylor’s investments, MicroStrategy’s share performance has generally followed the price of Bitcoin. Morgan Stanley’s latest investment could thus be the bank’s attempt to profit from BTC’s high watermarks without being a HODLer.
It seems Saylor’s enthusiasm is paying off. Share prices in his company have almost doubled since last month, and with Morgan Stanley filling his sails it’s likely that MicroStrategy is going through something of a bull run itself.
Publicly traded firm Bit Origin, which is focused on Bitcoin mining infrastructure and investments, is raising $500 million to buy leading meme coin Dogecoin (DOGE) as it builds its own digital assets treasury.
The firm entered into agreements to sell up to $400 million in Class A ordinary shares, as well as up to $100 million in convertible debt.
“Bit Origin is evolving beyond mining infrastructure to engage directly in the value and utility of digital assets,” said Bit Origin Chairman Jinghai...
Canary Capital applied for a staked Injective exchange-traded fund, according to a filing with the U.S. Securities and Exchange Commission on Thursday, further evidence of issuers efforts to address growing demand for altcoin-focused investment products.
The fund, if approved, would enable investors to track the price of layer-1 blockchain Injective's native token, in addition to staking the altcoin. Staking is a process by which cryptocurrency holders "lock up" their assets to secure a network...
Bitcoin Standard Treasury Company (BSTR) will go public with more than 30,000 Bitcoin after a business combination with Cantor Equity Partners I (CEPO), a special-purpose acquisition company (SPAC) with connections to global financial giant Cantor Fitzgerald.
BSTR will open with more than $1.5 billion in PIPE financing on top of a balance sheet of 30,021 Bitcoin, or more than $3.5 billion worth of BTC. The bulk of the BTC will be gathered from its founding shareholders, which includes notable B...