Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.
Crypto Crumbles in Broad Selloff Led 20% Declines Across Numerous Altcoins
A slow bleed in crypto since late in the weekend accelerated into the early evening U.S. hours on Monday, leaving nearly the entirety of the sector sharply lower.
With prices in quick retreat, bitcoin (BTC) at press time had fallen back to just above $96,800, down about 2.7% over the past 24 hours.
MicroStrategy Makes Another Large Bitcoin Purchase, Buying 21,550 BTC for $2.1B
Bitcoin Development Company MicroStrategy (MSTR) added to its mammoth bitcoin (BTC) holdings last week with the purchase of another 21,550 tokens.
The buys were made over the week ended Dec. 8 and the firm paid an average price of $98,783 each, totaling $2.1 billion, according to a Monday regulatory filing. It funded the acquisition by selling roughly $2.13 billion shares during the same period. The company now has an additional $9.19 billion remaining from its previously existing $21 billion at-the-market (ATM) share sales facility.
November Was a 'Monumental' Month for the Crypto Market, JPMorgan Says
November was a monumental month for the crypto market in terms of performance, activity, politics and sentiment, JPMorgan (JPM) said in a research report Monday.
"President-elect Donald Trump's reelection triggered a historic rally and jump in market caps across the crypto ecosystem," analysts led by Kenneth Worthington wrote. This included tokens, decentralized finance (DeFi), stablecoins and publicly listed companies with crypto exposure.
Amazon Shareholders Push for Minimum 5% Bitcoin Allocation
Amazon's (AMZN) shareholders are urging the company to take a page from MicroStrategy's (MSTR) playbook by diversifying its reserves into bitcoin (BTC) to beat inflation and boost shareholder value.
"Though bitcoin is currently a volatile asset – as Amazon stock has been at times throughout its history – corporations have a responsibility to maximize shareholder value over the long-term as well as the short-term. Diversifying the balance sheet by including some bitcoin solves this problem without taking on too much volatility," according to a shareholder proposal shared by conservative think tank the National Center for Public Policy Research (NCPPR).
Bitcoin Spot ETF Flow
The Bitcoin spot ETF with the highest net inflow on Dec 9 was Fidelity Wise Origin Bitcoin Fund, with a net inflow of $175.47 million. Following that was Grayscale Bitcoin Mini Trust , with a net inflow of 7.25 million, according to SoSoValue.