MicroStrategy invests $10 million in bitcoin, court orders for liquidation 3AC and new cheapest ETP for Europe
MicroStrategy invests $10 million in bitcoin
Cloud software company MicroStrategy today announced another Bitcoin buy. This time they invested $10 million of their reserves, despite the price of the asset dropping below $20,000.
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
According to a report from Sky News on Wednesday, a judge has apparently ordered the liquidation of Three Arrows Capital. If true, this decision will exacerbate the turmoil that has plagued the crypto hedge fund and the crypto space as a whole over the past few weeks.
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
21Shares announced the release of its Crypto Winter Suite — a collection of exchange-traded products (ETP) meant to weather market downtrends.
“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
Give us a call on +372 602 6773 or email us at support@crypto2cash.com. Our members of staff are available between 9.00–18.00 CET to answer any question you may have, especially in regards to easily selling your crypto for fiat currencies.
