News

Bitcoin maximalist MicroStrategy (MSTR) has extended its Bitcoin buying spree, raising $584 million through a perpetual convertible preferred stock offering to fund additional Bitcoin purchases. Initially, MicroStrategy targeted $250 million for its capital raise, but demand ballooned the offering threefold. As a result, the final issuance totaled 7.3 million shares, priced at $80 each.

The Grayscale Dogecoin Trust will offer investors an opportunity to gain exposure to a token that the company believes has "transitioned from a memecoin... to a tool for global financial inclusion and a viable means of payment". Investors are hunting for gains beyond bitcoin, and firms like Grayscale are looking to tap into the growing popularity of altcoins — a term used for crypto tokens other than the world's biggest cryptocurrency. "Dogecoin is helping groups underserved by legacy financial infrastructure to participate in the financial system," said Rayhaneh Sharif-Askary, Grayscale's head of product and research.

The group also increased its bitcoin holdings last quarter for the first time since March, holding nearly 84,000 BTC worth about $7.8 billion as of year-end.

The asset manager said the token has transitioned from a memecoin to a tool for global financial inclusion.

The U.S. Securities and Exchange Commission (SEC) has granted approval for Bitwise’s combined Bitcoin and Ethereum exchange-traded fund (ETF) on an accelerated basis.

The Swiss banking giant, which has been experimenting with blockchain, tapped the layer-2 firm to test whether it could scale its current Key4 Gold program.

Crypto miners often own large plots of land and significant power resources — assets that are also crucial for high-performance computing (HPC) and AI data centers. To capitalize on the AI boom, many miners have begun to repurpose parts of their operations into data centers, given they already have most of the infrastructure. Critics of the approach, however, warn that the shift may not be successful because AI data centers are more sophisticated.