Bitcoin Hits Record $97,000 as Crypto Seeks Direct Line to Trump
Bitcoin hit $97,000 for the first time as the digital-asset sector moves to cement its influence with Donald Trump by pushing for a new White House post dedicated to cryptocurrency policy.
Trump’s team is holding discussions about whether to create such a role and the industry is pitching for the position to have direct access to the president-elect, who is now one of crypto’s biggest cheerleaders.
Trump Advisers Weigh White House Crypto Role - Report
President-elect Donald Trump's team of advisers is holding talks with the digital asset industry about whether to form a new White House position focused on cryptocurrency policy, according to a media report.
It's not yet clear whether the role would be a senior White House staff position or a "crypto czar" - Washington, DC, jargon for a point person that would oversee policy and regulation across the federal government, the report said.
Former Coinbase Global, Inc. and Binance.US executive Brian Brooks, who is also a potential SEC chair candidate, met with Trump on Tuesday, Bloomberg said, citing people familiar with the meeting. Trump also spoke with Coinbase CEO Brian Armstrong this week, they said.
MicroStrategy to Quicken Bitcoin Buying After Boosting Note Sale
MicroStrategy Inc. is accelerating its pace of Bitcoin buying by increasing the amount of convertible notes it’s selling by almost 50% to fund additional purchases of the cryptocurrency.
The once obscure software maker, which now calls itself a Bitcoin Treasury company, is moving rapidly to meet a goal announced last month of raising $42 billion in capital over the next three years to buy more Bitcoin. MicroStrategy said Monday that it bought a record $4.6 billion of the tokens, funded through an at-the—market stock share program. It will use the $2.6 billion raised from the 0% senior note offering to add to its roughly $31 billion stockpile.
MicroStrategy’s Market Cap Tops $100 Billion on Track to Intel’s
MicroStrategy’s market capitalization has topped $100 billion, on track to surpass chip maker Intel.
The stock is set for further gains as analysts expect MicroStrategy’s BTC buying spree to accelerate even faster than anticipated, according to a Nov. 19 analyst report shared with Cointelegraph.
On Nov. 20, MicroStrategy recorded volumes of $33.27 billion, trailing only artificial intelligence (AI) juggernaut Nvidia Corp., according to data from TradingView.
Russia to Limit Cryptomining in Some Regions on Power Shortages
Russia restricted cryptocurrency mining in more than a dozen regions where the practice is concentrated amid concern over electricity shortages that are weighing on the nation’s economy.
A government commission on the power industry approved a blanket cryptomining ban until 2031 for six regions in Russia’s Caucasus, as well as in some of the territories the Kremlin’s forces occupy in Ukraine, according to a statement published earlier this week.
The ARK 21Shares Bitcoin ETF Saw Net Daily Inflows of $267 Million, Topping the List of Total Daily Net Inflows
The Bitcoin spot ETF with the highest net inflow on November 20 was ARK 21Shares Bitcoin ETF, with a net inflow of $267.34 million. Following that was Fidelity Wise Origin Bitcoin Fund, with a net inflow of $256.15 million, according to Bloomberg data.
As of now, the total net asset value of Bitcoin spot ETFs is $99.37 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.38%.
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