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MicroStrategy buys more BTC and ARK Invest buys BITO

MicroStrategy (MSTR), the largest holding company of Bitcoin (BTC)added more to its holdings on Wednesday, purchasing 14,620 BTC for around $615.7 million. The company’s executive chairman, Michael Saylor, tweeted that MicroStrategy purchased the bitcoin at an average price of $42,110 each. The recent purchase brings the company’s holdings to 189,150 BTC, worth approximately $5.9 billion, which were purchased at an average price of $31,168 per BTC. MicroStrategy began purchasing Bitcoin in August 2020. The company’s most recent purchase before Wednesday’s was last month, when it acquired 16,130 BTC worth approximately $608 million at the time.

ARK Invest purchased 4.3 million shares of the ProShares Bitcoin Strategy ETF (BITO) yesterday after dumping its remaining holdings of the Grayscale Bitcoin Trust (GBTC). ProShares’ stake is valued at $9.2 million based on closing prices. Cathie Wood’s investment vehicle also sold $27.6 million worth of Coinbase (COIN) stock and purchased 20,000 shares of the Ark 21Shares Active Bitcoin Future Strategy ETF, according to an emailed transaction notice . The ProShares exchange-traded fund, which began trading in October 2021 as the first U.S. bitcoin-related ETF, now represents 5.03% of the ARK Next Generation Internet ETF (ARKW), its sixth-largest holding.

Bitcoin remains well supported, holding above $40,000 as time runs out until the final quarterly option of 2023 expires. As of 08:00 UTC on Friday, a staggering $7.7 billion in options linked to bitcoin (BTC) and $3.5 billion in options linked to ether (ETH) will be available. expires on the Deribit crypto exchange. β€œThe total of over $11 billion marks Deribit’s largest expiration to date, of which nearly $5 billion will expire in-the-money, the largest amount ever, which could lead to hedging activity and above-average trading volume,” said Luuk Strijers, the exchange’s chief commercial officer. officer, told CoinDesk

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