Dec 5, 2023

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest crypto stories of the day, including how MicroStrategy's bitcoin bet is shaking out.

Video transcript

New revelations on Black rock spot, Bitcoin ETF and Michael Sailor's Bitcoin bet pays off. You're watching coin desk daily. I'm your host, Jen Sani. All right, let's take a look at the markets. The coin desk, Bitcoin price XPX index is currently trading at $42,165. Bitcoin isn't the only asset seeing a jump though 100 and 65 of the 184 digital assets in the coin desk market index are trading above their levels this time last week. While 70 assets are more than 10% higher. A new application with the SEC reveals that Blackrock has received $100,000 as seed capital for its proposed spot. Bitcoin ETF, the filing says the seed capital investor agreed to purchase $100,000 in shares on October 27th, 2023. Seed capital represents the initial funding that allows an ETF to fund the creation units underlying the ETF so that shares can be offered and traded in the open market. Us. Lobbying spending by the Cryptocurrency industry is on course to hit a record high this year. According to Reuters, crypto companies spent $18.96 million on lobbying by the end of the third quarter. That's up from 16.1 million in the same period last year. This year's figure suggests crypto firms may have ramped up their efforts to repair the damage caused by the demise of FTX. With Bitcoin's recent rally, Business Intelligence company, Microstrategy is sitting on a more than $2 billion profit on its massive Bitcoin holdings. Led by executive chairman Michael Saylor Microstrategy began purchasing Bitcoin in August 2020. Microstrategy is the largest public holder of the largest Cryptocurrency by market cap. That's a wrap for coin desk daily, get more updates on coin and we'll see you next time.

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