Bitcoin continued its impressive ascent, hitting an all-time high of just over $99,000 during the day. Analysts suggest that the $100,000 milestone is within reach.
MicroStrategy is powered by its #Bitcoin treasury operations. We sell volatility through our ATM offerings, strip BTC risk, volatility, and performance from our fixed-income securities, and transfer that performance to our $MSTR equity holders. pic.twitter.com/QedCazsrsN
— Michael Saylor⚡️ (@saylor) November 22, 2024
Ethereum, often regarded as the second most influential cryptocurrency, saw its value soar by 8%, aligning with Bitcoin’s upward trajectory.
? Grayscale Crypto Snapshot – Assets
Our weekly snapshot of the top 10 #crypto assets by 1 week returns.–$XRP $ADA $AVAX $SOL #bitcoin #ethereum $DOGE $TRX $TON $BNB pic.twitter.com/zZBK2Gaf7z
— Grayscale (@Grayscale) November 22, 2024
Marathon Digital Holdings announced the successful completion of an upsized $1 billion private placement, yielding net proceeds of $980 million. This includes the full $150 million option exercised by initial investors, indicating robust demand for this offering. The zero-interest notes provide a further advantage to the company.
Bitcoin nears milestone amid market gains
MicroStrategy also revealed plans to issue convertible senior notes.
.@Grayscale’s Crypto Sectors: The Currencies sector highlights assets like #Bitcoin, $XRP, and $LTC, designed for exchange, store of value, and peer-to-peer transactions.
Read more about Crypto Sectors: https://t.co/SUtzCwLqjo pic.twitter.com/476JuHfka3
— Grayscale (@Grayscale) November 22, 2024
However, a report by short-seller Citron Research, which deemed the stock’s price “overheated,” led to a downturn in its performance.
Citron’s critical assessment was echoed by investors, resulting in a sharp pullback. In a noteworthy development from Washington D.C., Securities and Exchange Commission Chair Gary Gensler announced his resignation effective on Inauguration Day. Gensler has been a vocal critic of cryptocurrencies, once expressing strong doubts about their potential for widespread adoption compared to fiat currencies.
His departure is seen positively by many in the crypto community. The crypto market’s strong performance on Thursday highlights the volatile yet dynamic nature of cryptocurrency investments and the significant impact of regulatory and market sentiment on stock prices.
