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GameStop shares plunge as company eyes Bitcoin with new bond offering — investors left scratching heads

Economic Times

Economic Times · 2m ago

GameStop shares plunge as company eyes Bitcoin with new bond offering — investors left scratching heads

GameStop shares dropped significantly after announcing plans to raise $1.75 billion through convertible bonds to finance general business needs, including potential bitcoin investments. The company plans to follow MicroStrategy's strategy by purchasing bitcoins as a hedge against economic risks. Recently, GameStop acquired 4,710 bitcoins worth $500 million. However, analyst Michael Pachter doubts the effectiveness of this strategy, labeling it inconsistent as GameStop's stocks already exceed its cash value by 2.4 times.

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GameStop bought $500 million of Bitcoin | TechCrunch

TechCrunch · 3m ago

GameStop bought $500 million of Bitcoin | TechCrunch

GameStop purchased 4,710 Bitcoin, worth over $500 million, as part of a strategy to stay relevant in a digital era and fulfill promises made to investors about using Bitcoin as a treasury reserve asset. Despite concerns about crypto volatility, GameStop follows companies like Tesla in leveraging Bitcoin to boost assets. Political implications arise as Trump’s administration embraces crypto, prompting the “End Crypto Corruption Act” against potential market manipulation for personal gain.

BofA's Merrill Lynch, Wells Fargo offering spot bitcoin ETFs to clients

Economic Times

Economic Times · 1y ago

BofA's Merrill Lynch, Wells Fargo offering spot bitcoin ETFs to clients

Bank of America's Merrill Lynch and Wells Fargo have recently started offering spot bitcoin exchange-traded funds (ETFs) to their eligible wealth management clients, following the approval of such investment vehicles by the Securities and Exchange Commission in January. These ETFs allow investors to gain exposure to bitcoin without directly owning it. The availability of these funds has attracted new investors to the cryptocurrency market and has even led some to shift their investments from gold-backed ETFs. This move by the banks showcases the increasing popularity of bitcoin as an asset class.

Indian Cryptocurrency Market Sees Resurgence On Bitcoin’s All-time High Rally

Inc42 · 1y ago

Indian Cryptocurrency Market Sees Resurgence On Bitcoin’s All-time High Rally

The demand for cryptocurrencies has surged in India, with trading volumes on major exchanges increasing significantly. Bitcoin reached all-time highs of $72,000 and $73,000, attracting new investors. Indian crypto platforms are offering incentives to attract new users, and homegrown platform Mudrex has launched Bitcoin spot ETFs for Indian investors. CoinSwitch claimed to have become the first Indian exchange to surpass 2 million users, while CoinDCX and WazirX also noted significant growth in trading volumes. However, industry leaders are calling for balanced regulation to control outgoing crypto transactions.

Govt bonds on investor radar again as yields surge, FDs lag

Economic Times

Economic Times · 2d ago

Govt bonds on investor radar again as yields surge, FDs lag

Surging bond yields have made government bonds an attractive option for long-term investors, surpassing bank fixed deposits in returns. Experts highlight that the current environment provides a favorable entry point due to higher yields, especially after-tax. State Development Loan yields have also increased, offering appealing options for retail investors seeking stable income with quasi-sovereign safety. The rising bond yields present a rare opportunity for better returns compared to traditional fixed deposits.

Flipkart-backed logistics startup BlackBuck eyes $300 million IPO

IndianStartupNews

IndianStartupNews · 1y ago

Flipkart-backed logistics startup BlackBuck eyes $300 million IPO

Logistics startup BlackBuck is preparing for an Initial Public Offering (IPO) to raise $300 million. The company, which plans to include a fresh issue of shares and a secondary sale by existing investors, aims to use the funds to expand its services and core freight business. Despite being valued at over $1 billion in 2021, BlackBuck's consolidated revenue declined by 15% and losses increased in FY23. The IPO is expected to solidify BlackBuck's position in the logistics sector and accelerate its growth, with backing from investors including Flipkart, Tiger Global, and Sequoia.

Why crypto idealogues won’t touch bitcoin ETFs

Wired · 1y ago

Why crypto idealogues won’t touch bitcoin ETFs

Bitcoin investors are celebrating the approval of spot bitcoin exchange-traded funds (ETFs) by US regulators. The new ETFs will allow people to invest in bitcoin through a brokerage, albeit issued by major financial institutions. However, this approach contradicts the decentralized vision of bitcoin outlined in its white paper. The ETFs are seen as a compromise to attract institutional investors and make it easier for the general public to invest in cryptocurrency. The arrival of spot bitcoin ETFs is expected to bifurcate the asset, with one form for investment and another held by the ideological bitcoin community.

Bitcoin hits all-time high above 69k

TechCrunch · 1y ago

Bitcoin hits all-time high above 69k

Bitcoin has reached a new all-time high, surpassing $69,000, driven by increased demand following the approval of spot bitcoin ETFs in the US and the upcoming bitcoin halving in April. The cryptocurrency has gained over 60% this month and 205% this year. Bitcoin halving occurs approximately every four years and leads to a decrease in mining rates. This process aims to control the supply of bitcoin, and the upcoming halving is expected to further boost demand for the asset. Additionally, the approval of spot bitcoin ETFs has attracted new institutional and retail investors.

Negotiating Early-Stage Investments In India

Inc42 · 12m ago

Negotiating Early-Stage Investments In India

In early-stage funding rounds, investors often require companies to set aside a portion of their shares for an employee stock ownership plan (ESOP). Investors also typically have a pre-emption right, whereby the company must offer new shares to the investors before offering them to others. Additionally, anti-dilution rights protect investors from the decrease in value caused by dilutive events.

Focus on bitcoin in Q1 overshadows broadening of US ETF landscape

Reuters · 1y ago

Focus on bitcoin in Q1 overshadows broadening of US ETF landscape

The first quarter of 2024 saw a surge in spot bitcoin exchange-traded funds (ETFs) and interest in investing in artificial intelligence. However, other trends are also expected to dominate the ETF market in the coming months, including the popularity of single-country ETFs focused on Japan, broadening stock market leadership beyond technology stocks, growing interest in value stocks, and the rise of actively managed bond ETFs. New players in the market, such as Fidelity and Invesco, are also gaining momentum. As market volatility increases, investors may turn to more specific, targeted ETFs to manage risks.

Roxom Raises $17.9 Million for Bitcoin Exchange and RoxomTV; Tether Invests $775 Million in Rumble | DeepNewz VC

Business Bytes

Business Bytes · 3m ago

Roxom Raises $17.9 Million for Bitcoin Exchange and RoxomTV; Tether Invests $775 Million in Rumble | DeepNewz VC

Roxom, a bitcoin-denominated exchange company, has successfully raised $17.9 million in funding. Key investors include Ego Death Capital, Kingsway Capital, Draper VC, and Borderless Capital. The platform focuses on offering futures, spot markets, and synthetic instruments, all priced and settled in Bitcoin. Tether has also invested $775 million, signifying robust support and interest in Roxom's innovative financial solutions within cryptocurrency markets.

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