Daily News | BTC Hit a New High Again Within the Day, MicroStrategy Will Issue $2.6 Billion in Bonds to Purchase BTC

2024-11-21, 04:44

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## Crypto Daily Digest: BTC ETFs Saw a Daily Inflow of $760 Million, MicroStrategy to Issue $2.6 Billion in Bonds to Purchase BTC
According to Farside Investor data, US spot <a  rel="nofollow noopener noreferrer"  href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> ETFs had a net inflow of $760 million yesterday. BlackRock's IBIT inflow was $625 million, and Fidelity's FBTC net inflow was $134 million.

Yesterday, the US <a  rel="nofollow noopener noreferrer"  href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> spot ETFs experienced an outflow of $47 million. The Fidelity FETH outflow was $30.7 million, the Grayscale ETHE outflow was $16.3 million, and the BlackRock ETHA data has not been updated yet.

**ETH/BTC exchange rate hit new three-year low, touching 0.033**

According to Gate.io market information, the ETH/BTC exchange rate fell to 0.033, now reporting at 0.03303, with a 24-hour decline of 2.88%, reaching its lowest point since April 2021.

**MicroStrategy will issue $2.6 billion in bonds to purchase <a  rel="nofollow noopener noreferrer"  href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a>, resulting in a floating profit of $14.85 billion on its Bitcoin holdings**

MicroStrategy announced that it will issue convertible senior notes worth $2.6 billion and use the proceeds to purchase Bitcoin. The issuance scale of this note has been expanded compared to the previously announced total principal amount of $1.75 billion, and the issuance is expected to end on November 21, 2024.

These notes will be MicroStrategy's unsecured senior debt, which will not accrue interest regularly, and the principal of the notes will not increase. Unless repurchased, redeemed, or converted in advance according to its terms, these notes will mature on December 1, 2029. On or after December 4, 2026, MicroStrategy may redeem all or any portion of the Notes for cash at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid special interest.

According to market information, MicroStrategy's market cap exceeded $100 billion today, with a current market cap of $111.39 billion. The stock price rose 14.64% during today's trading session and is now reported at $494.69, setting a new historical high. MicroStrategy also made it into the top 100 US listed companies by market cap today, jumping to 33rd place on NASDAQ, 89th place on the S&P 500 index, and 85th place on the US stock market.

MicroStrategy's Bitcoin holdings hit a record high today, with Bitcoin prices breaking through $94,000. As of today, it holds a total of 331,200 Bitcoin, with a total purchase cost of approximately $16.5 billion and an average purchase price of $49,874. The current total value of Bitcoin holdings is $31.39 billion, with a floating profit of over $14.85 billion.

## Market Trends: BTC hit new highs within the day, while Altcoins generally declined
### Market Hotspots
Leading tokens such as ACT, PNUT, RIF, and GOAT, which led the market in the early stages, have experienced a sharp decline, and the market has entered a post-frenzy adjustment stage. Currently, we are still waiting for the emergence of the next market hot topic narrative, and AI meme is still a sector favored by funds;

The dog meme FLOKI rose against the trend. FLOKI is a meme coin that Musk often mentioned on Twitter during the last bull market, with a market value of nearly $3 billion. Currently, FLOKI is near its all-time high and ranks 40th in market value; In the overall market downturn, the upward potential of FLOKI is estimated to be limited.

### Mainstream Coins
BTC once hit a record high of $94,950, and BTC ETFs continued to receive huge inflows for several days. The friendly crypto environment after Trump's election is a potential huge benefit for BTC;

ETH is still fluctuating narrowly below $3,100, and its performance in this round of market is relatively sluggish, leading to increased market skepticism;

Altcoins generally fell, with previously strong coins such as GOAT and PNUT experiencing a 20% drop within the day. The market is waiting for fresh stories.

## Macro news: US stocks fluctuated, Nvidia fell after announcing financial report
The three major indexes of the US stock market fluctuated, with the S&P 500 index rising 0.00% to 5,917.11 points; The Dow Jones Industrial Average rose 0.32% to 43,408.47 points; The Nasdaq index fell 0.11% to 18,966.14 points. The benchmark 10-year Treasury yield is 4.41%, while the 2-year Treasury yield, most sensitive to the Federal Reserve policy rate, is 4.31%.

As the world's most valuable company, Nvidia's latest financial report data has attracted much attention. After the US stock market closed, Nvidia's third-quarter financial report for the fiscal year 2025 showed a revenue of $35.08 billion, a year-on-year increase of 94%; Net profit was $19.309 billion, a year-on-year increase of 109%. Nvidia CEO Huang Renxun stated that the Blackwell chip is currently in full production. The product is expected to be in short supply in the coming quarters. After the release of the financial report, Nvidia's stock price fell about 5% in after-hours trading, and then the decline narrowed, falling nearly 2% as of the time of writing.

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<div>Author:**Icing**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions. All investments carry inherent risks; prudent decision-making is essential.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
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