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Category: Forex News

Crypto News Today: SHIB Joins DOGE in the Top Ten as BTC Nears ATH

“MicroStrategy Announces Proposed Private Offering of $600 Million of Convertible Senior Notes.”

According to the press release, MicroStrategy plans to raise $600 million through convertible senior notes in a private offering. MicroStrategy will use the proceeds from the sale of the notes to purchase bitcoin and for general corporate purposes.

BTC-Spot ETF Market Flows Send BTC to a 2024 High

On Tuesday, BTC struck a new 2024 high of $68,735. Investors reacted positively to BTC-spot ETF market data for Monday, March 4.

According to available data, Grayscale Bitcoin Fund (GBTC) saw net outflows fall from $492.4 million to $368.0 million on Monday, March 4. The pullback in net outflows aligned with investor expectations that GBTC net outflows have peaked. Net outflows surged after the  February court approval for Genesis Global Holdco LLC to liquidate GBTC shares worth approximately $1.3 billion.

The BTC-spot ETF market will see net inflows on March 4 despite GBTC outflows.

According to Farside Investors, Fidelity Wise Origin Bitcoin Fund (FBTC) saw net inflows jump from $49.3 million (March 1) to $404.6 million (March 4). The BTC-spot ETF market saw total net inflows of $164.6 million, excluding flow data from iShares Bitcoin Trust (IBIT), Invesco Galaxy Bitcoin ETF (BTCO), and Valkyrie Bitcoin Fund (BRRR).

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