Crypto2Cash

Oct 20, 2021

2 min read

Bitcoin reaches all time high in week of Future ETFs

The price of bitcoin (BTC) reached a new all time high on 20 october 2021. BTC got to $65.000 and beyond on different big exchanges.

This happened in a week where the first bitcoin future ETFs in the United States got the green light.

The recent price history of bitcoin:

  • On the 17th of December 2020 the price was $20.000
  • $30.000 came shortly after, on the 3th of January of this year
  • A few days later (9th of January) the price of one bitcoin was $40.000 for the first time
  • On the 18th of February the digital asset broke the $50.000 mark
  • We saw the previous all time high ($64.840) on the 14th of April

After a lot of volatility bitcoin broke that old all time high.

Bitcoin Futures ETF

ProShares launched a bitcoin futures exchange-traded fund (ETF). This is the first fund of its kind in the United States.

The ProShares Bitcoin Strategy ETF (BITO) is traded on the New York Stock Exchange.

During the first inaugural trading day the trading volume of BITO got close to the $1 billion mark. In the first twenty minutes traders generated a volume of $280 million.

Binnen 20 minuten werd er maar liefst voor voor $280 miljoen aan aandelen in dit fonds verhandeld.

The ProShares Bitcoin Strategy ETF is based on futures, there are no physical bitcoin directly involved.

Read more at The Block

US Bitcoin mining companies raising millions of dollars

Apart from bitcoin as an asset, there are more ways to invest in this growing industry. Bitcoin mining companies have found their way to different stock exchanges.

The latest example is Stronghold Digital Mining. The company is based in Pennsylvania. They have raised $127 million via the offering of 6.68 million shares.

Stronghold uses waste coal to generate energy that is used for bitcoin mining. With the public raise they want to buy more bitcoin mining hardware.

Read the whole story at The Block

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