Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
- US-based business intelligence company MicroStrategy bought additional BTC 262 for around USD 10.5m in cash at an average price of USD 57,146 per coin. Per CEO Michael Saylor, as of March 12, the company holds BTC 91,326 (USD 5.25bn) acquired for USD 2.21bn at an average price of USD 24,214 per bitcoin.
Luke Ellis, CEO of Man Group, the world’s biggest publicly traded hedge fund firm, told CNBC that he sees BTC “as a trading instrument, not a thing that you think of as a long term asset allocation play” and warned that companies are not supposed to speculate with their cash balances. As reported, analysts at Man Group said in January that bitcoin (BTC)’s volatility is simply part of the price discovery in a new asset class, and these are not bubbles.
“I see it as a trading instrument, not a thing that you think of as a long term asset allocation play,” says MAN Gr… https://t.co/p5nIC98wrO
- Crypto exchange BTSE has raised USD 22m in its Series A investment round which concluded on January 31, achieving a valuation of USD 400m. According to the announcement, the primary investor is “a leading family office based in Hong Kong.” The round, they added, is an important step towards the exchange becoming a bridge between traditional finance and the digital assets world.
- Crypto venture capital firm Pluto Digital Assets has raised a USD 40m fund with UK-listed Argo Blockchain as its lead investor. Per the press release, this was Pluto’s third and largest round to date, while Argo will be maintaining their 25% stake with an investment of 10m. There was also continued investment by Pires Investments Plc and Riverfort Global Opportunities Plc amongst others. The company has surpassed USD 50m total assets under management (AUM) within 50 days of being established, it said.
- International investment giant WisdomTree has applied to launch a BTC exchange-traded fund (ETF), filing an S-1 Form with the US Securities and Exchange Commission (SEC). It plans to list the shares of the ETF on Cboe BZX Exchange, traded under the ticker symbol ‘BTCW’.
- The Chinese government has made mention of blockchain technology in its latest five-year plan, a further indication of how seriously it is now invested in the sector. A number of provinces have already made mention of the technology in their own three- and five-year plans, but no central government plan of this scale had previously made mention of it. Per the South China Morning Post, Beijing also made mention of the technology in its Vision 2035 development strategy. A cryptology expert and founding partner at Shanghai Hashvalue Information Technology opined in the same article that the move “will do good for the development of both the industry and professionals,…