MicroStrategy invests $10 million in bitcoin, court orders for liquidation 3AC and new cheapest ETP for Europe

Photo by André François McKenzie on Unsplash

MicroStrategy invests $10 million in bitcoin

The tech firm has now spent over $3.98 billion on Bitcoin, and owns 129,699 digital coins, according to statements from its CEO Michael Saylor. It is also at a loss of $1.3 billion since the price of the currency has dipped.

Three Arrows Capital In trouble as court orders for its liquidation

Based on the report, partners from Teneo Restructuring in the British Virgin Islands have been hired to manage the insolvency of the Singapore-based company.

At the beginning of this month, rumors began to circulate about the problem besetting Three Arrows. The once-dominant hedge fund has been severely impacted by Terra’s bankruptcy and the subsequent market contagion.

Source: Bitcoinist

Cheapest Crypto ETF launched for European market

“Given the current market environment, many investors are looking to ‘buy-the-dip’ and generate the maximum potential long-term return. Our Crypto Winter Suite will provide ways for investors to dip their toes in the water at some of the lowest costs on the market.”

The 21Shares Bitcoin Core ETP (CBTC) is meant to offer low-cost exposure to the asset with a total expense ratio of 21 basis points (0.21%), which is meant to reflect the 21 million unit cap for bitcoin.

This is reportedly 44 basis points lower than the next lowest product on the market. The ETP will lend out a portion of its underlying bitcoin through a fully collateralized basis in an attempt to offset operating costs, however the lending will not begin until the product achieves scale deemed appropriate by 21Shares.

Source: BitcoinMagazine

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