{
}
Ohio Representative Derek Merrin has introduced House Bill 703, allowing the state treasury to invest in Bitcoin to address concerns over the devaluation of the U.S. dollar. The bill aims to create a BTC fund, granting the state treasurer authority to allocate funds flexibly as part of Ohio's financial strategy. If not passed before the current legislative session ends on December 31, 2024, the proposal will need to be reintroduced in the next session starting January 2025.
Bitcoin has reached a new all-time high of $107K, fueled by expectations of lower interest rates and the inclusion of MicroStrategy in the Nasdaq 100. While new crypto ETFs are anticipated, Solana and XRP face delays due to ongoing legal issues with the SEC, which may push approvals to late 2025. In contrast, Litecoin and Hedera (HBAR) are positioned for quicker approvals, benefiting from clearer regulatory status.
MicroStrategy has increased its Bitcoin holdings to 439,000 BTC, valued at approximately $46 billion, following a recent purchase of 15,350 BTC. Executive Chairman Michael Saylor likened the company's aggressive Bitcoin strategy to investing in Manhattan real estate, emphasizing a commitment to continuous buying. Despite facing stock volatility and concerns over valuation, Saylor maintains that every day is a "good day to buy Bitcoin."
Global Bitcoin adoption is surging, with institutions and governments driving demand, potentially pushing its price to $850,000 by 2025. The limited supply of 21 million coins, coupled with significant institutional stockpiling and interest from governments as a hedge against fiat instability, is creating a supply shock. As Bitcoin's role as a digital reserve currency solidifies, retail investors face urgency to act, with current prices around $106,739.74.
US stock futures declined ahead of a Federal Reserve meeting expected to announce a 0.25% interest rate cut. The Dow Jones fell 0.4%, marking its eighth consecutive loss, while the S&P 500 and Nasdaq futures also slipped. Investors are focused on retail sales data and the Fed's future rate guidance amid persistent inflation concerns.
The FASB's new accounting rule mandates that companies value cryptocurrencies like Bitcoin at fair market value, effective December 15, 2024. This shift enhances financial transparency and simplifies reporting, potentially increasing corporate adoption of digital assets. Firms can now report Bitcoin-related revenues alongside costs, fostering a more coherent relationship between accounting practices and market realities.
Asian shares mostly declined following a record-setting day for the Nasdaq ahead of the Federal Reserve's upcoming interest rate decision. Tokyo's Nikkei 225 fell 0.2%, while Chinese markets continued to slide, with the Hang Seng down 0.1% and the Shanghai Composite losing 0.7%. In the U.S., the S&P 500 rose 0.4% and the Nasdaq climbed 1.2% to a record close, driven by strong performance from Broadcom. The Fed is expected to announce a third consecutive rate cut, aiming to support the job market as inflation stabilizes near its 2% target.
U.S. spot Bitcoin ETFs have surpassed Satoshi Nakamoto's holdings, amassing 1.1 million BTC, about 5.2% of the total supply, in under a year. Meanwhile, Ethereum ETFs, with $13.6 billion in assets, are gaining traction, potentially rivaling Bitcoin's dominance. The rise of these ETFs is boosting institutional adoption of cryptocurrencies and drawing attention to emerging projects like Lunex Network, which has raised $5.2 million in presale, promising fast and affordable transactions across 40 blockchains.
Microstrategy has purchased an additional 15,350 BTC for approximately $1.5 billion, raising its total holdings to 439,000 BTC. This latest acquisition, made between December 9 and 15, reflects the firm's aggressive buying strategy during the current Bitcoin bull run, with total investments now at $27.1 billion and profits exceeding 72%. As Bitcoin reaches a new all-time high above $106,000, trading activity remains robust, particularly between the $96,000 and $100,000 price levels.
Asian shares showed mixed results following a record-setting day for the Nasdaq, as investors await the Federal Reserve's interest rate decision. Tokyo's Nikkei rose 0.2%, while Chinese markets declined, reflecting disappointment over economic policy announcements. The S&P 500 reached an all-time high, driven by expectations of further rate cuts, as Bitcoin surged past $107,000.
MicroStrategy Incorporated
Companies
| Symbol | MSTR |
| Name | MicroStrategy Incorporated |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Software & Services |
| Industry | Software |
| Market | NASDAQ Global Select |
| Country | United States |
| State | VA |
| City | Tysons Corner |
| Zipcode | 22182 |
| Website | http://www.microstrategy.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Ohio proposes bill for state treasury to invest in Bitcoin
09:49 18.12.2024
crypto etfs 2025 solana and xrp face delays as litecoin and hbar advance
Nasdaq 100 Dec 24
MicroStrategy Incorporated
USA
Alexander Blume
James Seyffart
Gary Gensler
Nate Geraci
Paul Atkins
Show more
06:31 18.12.2024
MicroStrategy expands Bitcoin holdings to 439000 amid Nasdaq 100 listing
14:34 17.12.2024
bitcoin adoption surge could drive price to 850000 by 2025
14:30 17.12.2024
US stock futures decline ahead of Federal Reserve meeting and retail sales data
United States Dollar
NVIDIA Corporation
MARA Holdings, Inc.
Coinbase Global, Inc.
MicroStrategy Incorporated
Broadcom Inc.
USA
Show more
13:31 17.12.2024
new accounting rules for bitcoin enhance corporate adoption and transparency
09:29 17.12.2024
asian shares decline as nasdaq hits record ahead of fed meeting
United States Dollar
South Korean Won
Chinese Yuan
MicroStrategy Incorporated
Broadcom Inc.
SoftBank Group Corp.
KOR
CHN
JPN
Donald Trump
Yoon Suk Yeol
Masayoshi Son
Jerome Powell
Show more
08:39 17.12.2024
Bitcoin ETFs surpass Satoshi Nakamoto while Lunex Network gains momentum
08:07 17.12.2024
Microstrategy increases Bitcoin holdings to 439000 with new 1.5 billion purchase
07:00 17.12.2024
mixed asian shares follow nasdaq record ahead of federal reserve meeting
United States Dollar
Japanese Yen
MicroStrategy Incorporated
Broadcom Inc.
SoftBank Group Corp.
THA
AUS
KOR
CHN
JPN
TWN
Donald Trump
Yoon Suk Yeol
Stan Choe
Masayoshi Son
Jerome Powell
Stephen Innes
Show more
05:12 17.12.2024
Trending
Subcategory
Corporate News
Industry Trends
Startups & Entrepreneurship
Retail and Consumer Goods
Supply Chain Management
Global Trade Developments
Stock Market Updates
Government Economic Policies
Industry Mergers & Acquisitions
Energy Sector Developments
Workplace Trends
Funding Rounds & Investments
CEO Changes
AI Applications
Private Equity Deals
Emerging Startups
Fintech Startups
AI Innovations
Global Financial Events
Central Bank Actions
Countries:
Companies:
Apple Inc.
Google Inc.
Tesla, Inc.
Amazon.com, Inc.
Microsoft Corporation
Tesmec S.p.A.
Alphabet Inc.
OpenAI ERC USD
Walmart Inc.
SWIGGY LIMITED
TENCENT
NVIDIA Corporation
Foxconn Technology Co., Ltd.
Hollywood Bowl Group PLC
NASDAQ Composite
Wise plc
Mastercard Inc
Bose Corporation
Mistral 1
Fast Retailing Co., Ltd.
Currencies:
United States Dollar
Indian Rupee
Chinese Yuan
Euro
Japanese Yen
British Pound Sterling
United Arab Emirates Dirham
Vietnamese Đồng
South Korean Won
New Zealand Dollar
Saudi Riyal
Thai Baht
Australian Dollar
Indonesian Rupiah
Singapore Dollar
Omani Rial
Bahraini Dinar
Qatari Riyal
Algerian Dinar
Egyptian Pound
People: