Pedro Solimano

4 days ago | dlnews.com | Pedro Solimano

Bitcoin treasury companies are booming. MicroStrategy started the trend in 2020. Too much of a good thing has a key danger, bank says. Bitcoin treasuries are booming — but they could just as easily bust as they scale up. The problem is that half of the 61 listed companies who have copied Michael Saylor’s stockpiling strategy have bought Bitcoin at prices higher than $90,000. And Geoffrey Kendrick, head of digital assets at Standard Chartered, the UK bank, said that could be an issue down the road.

1 week ago | dlnews.com | Pedro Solimano

SharpLink Gaming's market capitalisation is up 11-fold. It is the first-ever Ethereum treasury company. Consensys CEO Joe Lubin was behind the deal. Ethereum’s first treasury company is paying dividends — big time. Shares in SharpLink Gaming, an online casino company that raised a $435 million Ethereum treasury this week, have skyrocketed 2,700% this week. And its market capitalisation is up 11-fold. Not bad for an outfit with five full-time employees.

1 week ago | dlnews.com | Pedro Solimano

Bitcoin exchange-traded funds have taken in $9 billion. Gold ETFs have suffered $2.8 billion in outflows. The Bitcoin basis trade is likely fuelling those numbers. It’s a compelling narrative among many in crypto: Bitcoin is digital gold. Its price behaviour has detached from that of risky tech stocks, which proves that investors think so, too. Not so fast, says macro analyst Noelle Acheson. “It feels like too tidy a narrative,” Acheson wrote in her “Crypto is Macro Now” newsletter.

1 week ago | dlnews.com | Pedro Solimano

Michael Saylor's copycats hit turbulence. Analysts focus on key valuation measure. Metaplanet, a Japanese firm, goes all in on BTC. It all began with MicroStrategy. Now every week it feels like yet another listed company is stockpiling Bitcoin, or other cryptocurrencies. But there’s a problem — investors are willing to value those companies at a hefty premium just because they bought Bitcoin. And what happens if their shares don’t rise as a result?

1 week ago | dlnews.com | Pedro Solimano

GameStop said it purchased 4,710 Bitcoin. The firm is the latest to join the Bitcoin treasury club. There's an "alarming trend" underway, said analyst Noelle Acheson. GameStop has officially joined the Bitcoin treasury club. The video game retailer said today it had picked up 4,710 Bitcoin, which today is worth about $513 million. It’s the company’s first Bitcoin purchase. GameStop shares fell 9%. The stock is up 15% this month. The move is the latest in a growing corporate grab for Bitcoin.