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Apr 27, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

bitcoin

Bitcoin set for worst week since March as riskier assets sold off

Bitcoin set for worst week since March as riskier assets sold off

  • The world's biggest cryptocurrency slipped as much as 6% to $44,451 before recovering most of its losses.
  • The sell-off echoed that in equity markets, where European stocks tumbled as much as 1.5%, with concerns over lofty valuations also hammering demand. Asian stocks fell by the most in nine months.
Published 26 Feb, 2021 06:13pm
Bitcoin collector MicroStrategy fills its wallet with another $1 billion
Business & Finance

Bitcoin collector MicroStrategy fills its wallet with another $1 billion

  • The company, whose Chief Executive Officer Michael Saylor is one of the most vocal proponents of bitcoin, bought the cryptocurrency in cash at an average price of about $52,765 each.
  • MicroStrategy, the world's largest publicly traded business intelligence company, spent last year steadily amassing bitcoin after making its first investment in August.
Published 24 Feb, 2021 07:34pm
Bitfinex, Tether owner pays $18.5mn fine to settle NYAG cryptocurrency cover-up charges
Markets

Bitfinex, Tether owner pays $18.5mn fine to settle NYAG cryptocurrency cover-up charges

  • James said the civil settlement with Hong Kong-based iFinex Inc and related entities will also require them to halt trading activity with New Yorkers.
  • Tether is the world's third-largest cryptocurrency, after Bitcoin and Ethereum, according to CoinMarketCap. Its market value was about $34.8 billion on Tuesday, up from $2.8 billion when James announced her charges in April 2019.
Published 23 Feb, 2021 08:29pm
MicroStrategy prices upsized $900mn debt sale to buy more bitcoin
Markets

MicroStrategy prices upsized $900mn debt sale to buy more bitcoin

  • The company, whose Chief Executive Officer Michael Saylor is one of the most vocal proponents of bitcoin, said proceeds of the offering will be about $879.3 million.
  • MicroStrategy said on Tuesday it will borrow $600 million to buy more bitcoin, as the cryptocurrency surged past $50,000 in a rally fueled by wider acceptance among investors.
Published 17 Feb, 2021 09:06pm
MicroStrategy to borrow $600mn to buy more bitcoin
Markets

MicroStrategy to borrow $600mn to buy more bitcoin

  • Shares of MicroStrategy, the world's largest publicly traded business intelligence company, rose more than 4% on the news, adding to their meteoric 580% surge in the past year.
  • MicroStrategy owns close to 72,000 bitcoin, a regulatory filing showed on Feb. 2, valuing its bitcoin holdings at about $3.6 billion, according to a Reuters calculation.
Published 16 Feb, 2021 09:40pm