Features Crypto News by Thebittimes.Com

The average price MicroStrategy (MSTR) paid for its bitcoin purchases has risen to $58,263. Through tens of billions of dollars in dilutive and convertible stock offerings, the company has acquired 402,100 bitcoin – mostly in exchange for debt and future shareholder dilution. Excluding those future obligations, CEO Michael Saylor boasts that the company’s currently outstanding shareholders have earned a yield of 38.7% during the month of November. This figure is calculated by dividing MicroStrategy’s bitcoin by its “assumed diluted shares outstanding,” a proprietary metric that excludes a variety of future obligations – especially if MSTR rallies above the conversion prices of debtholders. The yield impresses his investors, nonetheless, who see MicroStrategy’s ability to tap corporate debt markets as a unique method to purchase bitcoin on a dilution-adjusted basis.  Some members of the self-aware fan club, Irresponsibly Long MSTR, go way beyond Saylor’s bullish proje...

In a string of major banks offering exposure to Bitcoin (BTC) through its spot exchange-traded funds (ETFs), one of the latest to hop on the Bitcoin bandwagon is Goldman Sachs (NYSE: GS), which has just unveiled it holds millions in spot Bitcoin ETFs. Specifically, Goldman Sachs reported in its new quarterly filing with the United States Securities and Exchange Commission (SEC) that it was holding more than $400 million in spot Bitcoin ETFs, according to the 13F document for the quarter ending June 30, released on August 13. Among others, the major bank has filed new holdings in BlackRock (NYSE: BLK) iShares Bitcoin Trust, valued at $238.6 million, or nearly 7 million shares, with additional positions in Fidelity Bitcoin ETF at $79.5 million, Grayscale Bitcoin Trust at $35.1 million, and Invesco Galaxy Bitcoin ETF at $56.1 million. Picks for you ...