BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\nFeatured image from DALL-E, chart from TradingView.com <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Since Donald Trump became president-elect a little more than a month ago, roughly $10 billion has flooded into US spot Bitcoin ETFs, showing growing optimism that his administration will support the cryptocurrency industry. According to Bloomberg, a dozen funds from big issuers including BlackRock and Fidelity Investments have received around $9.9 billion in net inflows into their various Bitcoin ETFs since November 5, bringing their total assets to around $113 billion. Trump’s Appointments Signal Shift To Pro-Crypto Regulation Trump’s recent selections, such as a digital asset champion to lead the US Securities and Exchange Commission (SEC) and the creation of a White House czar for artificial intelligence and crypto, indicate a shift toward a more friendly regulatory climate. Notably, Trump has praised the concept of establishing a national Bitcoin reserve, which is gaining bipartisan support in Congress, with pro-crypto Senator Cynthia Lummis at the lead.\u00a0 Related Reading: XRP Skeptic Turned Believer? Critic Hails XRP As Crypto\u2019s Chart King Bitcoin recently surpassed the $100,000 mark for the first time on December 5, trading at around $96,898 as of Monday. The cryptocurrency’s six-week winning streak is the longest since the market frenzy of 2021, but analysts remain concerned about volatility. David Lawant, head of research at crypto premier broker FalconX, noted that a sustained push above the $100,000 milestone will most likely necessitate other positive catalysts, as BTC has struggled to recapture this level while stabilizing after the advance over the last four days.\u00a0 Bitcoin Rally Boosts MicroStrategy And Peers Bloomberg also notes that the positive atmosphere surrounding cryptocurrencies has resulted in a substantial rebound among companies that have followed MicroStrategy’s strategy of selling convertible bonds to fund Bitcoin purchases. MicroStrategy alone sold $6.2 billion in convertibles this year and intends to raise an additional $21 billion through fixed-income offerings. Other companies, including MARA Holdings and Core Scientific, have successfully obtained significant funds to support their Bitcoin acquisitions. MicroStrategy’s stock, MSTR, has risen 73% since Donald Trump’s election, while MARA, Riot Platforms, and Core Scientific’s shares have increased by 63%, 33%, and 30%, respectively.\u00a0 This trend closely resembles Bitcoin’s nearly 40% growth within the same period. With a market capitalization approaching $2 trillion, Bitcoin’s recent ascent has dramatically increased MicroStrategy’s assets, which are now worth more than $41 billion. Related Reading: Dogecoin Price Prediction: Here\u2019s What The 91-Day Pattern Says Could Happen Next The terms of recent crypto-related convertible deals stand out, particularly because many are structured with zero coupons, allowing investors to engage in convertible arbitrage. Despite the high demand for these instruments, there appears to be little anxiety about prospective Bitcoin price decreases. Raj Imteaz, head of convertible and equity derivatives advisory at ICR Capital LLC, noted that larger players in the market feel compelled to issue convertibles to remain competitive.\u00a0 \u201cIf your competitor has a large war chest funded at very low coupons and you haven\u2019t tapped the market, you\u2019re at a competitive disadvantage,\u201d he said. \u201cYou almost have to issue converts to stay competitive within crypto.\u201d Featured image from DALL-E, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":641589,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,532,91472,90555,9960,656,679,1119,1122,1144,78790,6664,26263,14690,1558],"class_list":["post-659658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-etf","tag-bitcoin-etf-inflows","tag-bitcoin-etf-news","tag-bitcoin-etfs","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-cryptocurrency"],"acf":[],"yoast_head":"\n
Market Reacts To Trump\u2019s Crypto Support: Almost $10 Billion Invested In US Bitcoin ETFs<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n