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BlackRock (BLK), the investment giant, disclosed that it received $100,000 for “seed capital” to fund its proposed spot Bitcoin (BTC) ETF. The filing stated, “The investor agreed to buy $100,000 in shares by October 27, 2023 and took delivery on October 27, 20,23 of 4,000 shares, at a price per share of $25.00. (the “seed stocks “),”). The seed capital is the initial funding for an ETF that allows it to create the units that make up the ETF. This allows shares to be traded on the open market.

MicroStrategy, a business intelligence company (MSTR), was sitting on more than $ 2 billion in profit after the bitcoin’s rise above $42,000. MicroStrategy started purchasing bitcoins in August 2020 under then CEO Michael Saylor. As of November 30, the company held 174.530 bitcoins, which were purchased for an average of $30,252 per coin. MSTR’s bitcoin holdings increased to $7.3 billion when the price of bitcoin reached $42,000. At press time, the price had dropped to $41,700.

El Salvador’s president took to X early on Monday to announce that his country’s investment in bitcoin (BTC), which has risen by over $3 million, is now profitable. “We do not intend to sell; this was never our intention,” he said. We are aware that prices will fluctuate for the foreseeable future. This does not affect our long-term plan. CoinDesk calculated three weeks ago that the country owned approximately 2,744 Bitcoins at a price of $42,000 or less. It was also sitting on an estimated loss of $16 million.

Chart of the Day

  • The chart displays changes in the short-term and longer-term skews of bitcoin call-put prices over the last five weeks. The metric measures the demand for puts relative to calls.
  • Bitcoin’s rise to $42,000 was not confirmed by the skeweds, which have fallen from their multi-month highs of early November.
  • Maybe sophisticated traders anticipate a bull breather.
  • Call options offer protection against bullish movements, while put options provide insurance against price declines.
  • Source: Amberdata

– Omkar Godbole

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Sheldon Reback is the editor.