Grayscale's win over the SEC is good for Bitcoin, and that's good for MicroStrategy. It's a more complex picture for Coinbase.
Both Coinbase Global and MicroStrategy seemed like stock-market winners after a pro-crypto court ruling sent their shares soaring higher—but the picture is more complicated. What is good for MicroStrategy may not be good for Coinbase.
Bitcoin prices jumped, as did shares in crypto broker Coinbase and MicroStrategy , a business intelligence company founded and chaired by Bitcoin bull Michael Saylor that has extensive holdings of the digital asset. While a spot Bitcoin ETF could be a compelling alternative to MicroStrategy for investors seeking exposure to Bitcoin, it would still be ultimately positive for the company. “Approval of a spot ETF would be good for Bitcoin, and anything that would be good for Bitcoin would be good for MicroStrategy,” said Palmer.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Grayscale's Chief Legal Officer Talks Bitcoin ETF Decision; Bitcoin Price Rallies on Grayscale Court WinGrayscale Investments Chief Legal Officer Craig Salm joins 'First Mover' to discuss the next steps after a federal court ruled the SEC must review its rejection of Grayscale’s attempt to convert the GBTC into an ETF. Kaiko Director of Research Clara Medalie discusses the market reaction as bitcoin (BTC)'s price surged on the news. Plus, former SEC Special Counsel Hermine Wong shares insights into the impact of the SEC issuing its first enforcement action targeting NFTs.
Read more »
Bitcoin hits two-week peak after Grayscale spot bitcoin ETF ruling By ReutersBitcoin hits two-week peak after Grayscale spot bitcoin ETF ruling
Read more »
Court Rules SEC Must Review Rejection of Grayscale's Bitcoin ETF Bid, Bitcoin Jumps 5%'The Hash' tackles today's hot topics, including a federal court ruling that the SEC must review its rejection of Grayscale Investments' attempt to convert the Grayscale Bitcoin Trust (GBTC) into an ETF. Bitcoin is surging on the news. Grayscale and CoinDesk are both owned by DCG. Separately, the SEC issued its first NFT-related enforcement action. And, some former FTX users are getting hit by a new phishing attack on their FTX-registered emails.
Read more »
Court Rules SEC Must Review Rejection of Grayscale's Bitcoin ETF Bid, Bitcoin Jumps 5%The most valuable crypto stories for Tuesday, August 29, 2023.
Read more »
Coinbase shares jump 14% amid market revelry over Grayscale winCoinbase shares surged on the expectation that spot bitcoin ETFs will become a reality, which would be a boon for the company.
Read more »
Coinbase stock surges after favorable federal ruling for GrayscaleCoinbase's stock surged on Aug. 29 as a federal judge favored Grayscale in their SEC dispute. COIN closed at $85.13 per share, up over 15% in a day. Coinbase, the leading US crypto exchange, has been listed on the Nasdaq since 2021.
Read more »