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MicroStrategy has made headlines by acquiring $2.1 billion in Bitcoin, marking its fifth consecutive week of significant purchases. The firm now holds over 400,000 Bitcoin, valued at more than $41 billion, surpassing Nvidia's cash reserves. However, analysts warn that this aggressive strategy poses liquidity and credit risks, especially if Bitcoin's market value declines, potentially jeopardizing the company's financial stability.
Bitcoin and other major cryptocurrencies rebounded after a flash crash that saw Bitcoin drop to $94,000, triggering $1.72 billion in liquidations. Analysts highlight critical support levels at $91,800 and $83-$85,000, while institutional buying pressure increases amid market volatility. The global crypto market cap fell by 5.37% to $3.48 trillion.
US stock futures edged higher as traders await a crucial inflation report that could influence expectations for an interest-rate cut by the Federal Reserve. Alphabet Inc. saw gains of up to 3.9% due to advancements in quantum computing, while Oracle Corp. and Nvidia Corp. faced declines after disappointing results and regulatory scrutiny, respectively. With Wall Street experiencing its best year since 2019, market participants are looking for fresh catalysts amid a cautious atmosphere ahead of key economic data releases.
UBS has significantly bolstered its US equity portfolio in the AI sector during the third quarter of 2024, with notable investments in NVIDIA and Apple. The bank's US portfolio now stands at USD 459.01 billion, up from USD 405 billion in the previous quarter, reflecting a strong focus on AI stocks. Only two positions in the top 10 were reduced, indicating a strategic commitment to this rapidly growing sector.
As South Korea grapples with political turmoil, its stock market lags behind Taiwan, which is thriving amid a global AI boom. Taiwan's stock benchmark has surged nearly 30% this year, leading to a historic market capitalization gap of about $950 billion, as major tech companies increasingly rely on Taiwanese suppliers.
Nebius Group NV, formerly Yandex, has secured $700 million in funding from investors including Nvidia Corp. and Accel Partners LP. The company plans to issue 33.3 million shares at $21 each, while postponing its previous share buyback plans.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
MicroStrategy invests 2.1 billion in Bitcoin amid rising market concerns
04:30 10.12.2024
cryptocurrency market rebounds after significant flash crash and liquidations
03:12 10.12.2024
stocks steady as traders await key us inflation report
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23:30 09.12.2024
UBS Expands US Equity Holdings in AI Sector During Third Quarter
04:50 09.12.2024
Taiwan's Stock Market Soars While South Korea Faces Political Turmoil
01:00 07.12.2024
nvidia invests in nebuis raising 700 million for ai cloud services
13:00 02.12.2024
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