Investment bank Citi (C) initiated coverage of Strategy (MSTR) with a buy/high risk rating and a $485 price target, positioning the stock as a leveraged bet on bitcoin BTC$113,197.67. MSTR shares were 1.5% higher in early trading on Tuesday, around $301. The price target reflects Citi’s 12-month bitcoin forecast of $181,000, representing 63% upside from
Bitcoin BTC$112,463.21 is catching a bid on Tuesday as the record rally in precious metals reverses in a big way. Gold saw a 5% decline to $4,130, its biggest daily drawdown in years. Silver also tumbled nearly 8%. The metals had surged over the past few months fueled by central banks moving into monetary easing
U.S. Federal Reserve Gov. Christopher Waller kicked off the central bank’s first payments-innovation conference by vowing the Fed will embrace the crypto sector’s innovations and saying he’s asked staff to explore a lighter version of the so-called “master accounts” that give financial firms access to U.S. payment rails. “My view from the Fed from now
Shares of Galaxy Digital (GLXY) are ahead 2% on Tuesday after the crypto-focused financial firm beat third quarter revenue expectations by a wide margin and confirmed major progress on its Helios data center project. Led by CEO Mike Novogratz, the company reported $29 billion in revenue, nearly doubling analyst forecasts of $16 billion. Galaxy credited
Leading cryptocurrency Bitcoin (BTC) experienced sharp declines in October, known as the historically bullish month. At this point, Bitcoin has continued its decline despite its traditional upward trend in October and is still searching for direction. Analyst James Van Straten said Bitcoin continues to struggle in October, one of the strongest months in history. The
Coinbase has acquired Echo, an onchain fundraising platform, for approximately $375 million, the crypto exchange announced Tuesday. The deal marks another major acquisition this year for Coinbase as it expands its role in early-stage crypto funding. “We want to create more accessible, efficient, and transparent capital markets,” the company said in a statement. “But today,
YZi Labs, the former venture arm of Binance, led a $25.5 million strategic investment round for Sign, Blockworks has exclusively learned. IDG Capital also participated in the round. In January, Sign raised $16 million from YZi Labs, which was also YZi’s first investment after being spun out from Binance after former Binance CEO Changpeng Zhao
CoreWeave (CRWV) CEO Michael Intrator told CNBC the company will not raise its $9 billion all-stock offer for bitcoin miner Core Scientific (CORZ), calling the acquisition a “nice to have, not a need to have.” He said the offer fairly reflects the relative value of both companies and that CoreWeave will continue as planned even
Key Takeaways Jarrod Patten, a Strategy board member, bought $2.3 million in STRC shares, signaling strong insider confidence. Strategy is best known for its strategy of accumulating Bitcoin as part of its corporate treasury and is seen as a proxy for Bitcoin exposure. Strategy board member Jarrod Patten purchased $2.3 million worth of the company’s
Hyperscale Data revealed that the value stored in its Bitcoin treasury now represents around 66% of the company’s total market capitalization based on the previous closing stock price. Summary Hyperscale Data’s Bitcoin holdings have reached around 150.21 BTC ($16.3 million) through mining and open-market purchases, with $43.7 million in additional funds. The company aims to