Oil stored at Cushing, the Nymex delivery hub, rose by 1.7 million barrels to 32.5 million. All three indexes had put together double-digit rallies from October’s low point through Tuesday’s close. In economic news, existing home sales unexpectedly inched up in November, snapping a five-month https://bitcoin-mining.biz/software-testing-methodologies-learn-the-methods/ slump. Consumer confidence, meanwhile, surged to close out 2023. The basis can be positive or negative and has traded as high as 20% in recent weeks. Basis refers to the difference between the cash price of Bitcoin versus its futures price on the CME, the futures exchange.

• The total market cap of MicroStrategy right now is $9.1 billion, while the total value of the Bitcoins on its balance sheet is $7.5 billion.
• Conversion from 2 Bitcoin to Dollar with latest exchange rate and cryptocurrency price.
• On the surface, MicroStrategy might look a lot like an enterprise software stock.
• In August 2022, for example, it partnered with BlackRock, the largest asset manager in the world, to provide crypto trading services to institutional investors.

As long as the price of Bitcoin continues to go up, the value of MicroStrategy should continue to go up too. Tesla stock has a way of defying expectations, and December is no exception. The shares are rising while some key Wall Street estimates are falling.

You can send a variety of international currencies to multiple countries reliably, quickly, and safely, and at a rate cheaper than most banks. Check live rates, send money securely, set rate alerts, receive notifications and more. The basis trade seeks to take advantage of mispricings by simultaneously taking two positions — buying Bitcoin in the spot market and selling it in the futures market for example.

If Bitcoin continues to increase in price, these two crypto stocks could be among the biggest beneficiaries.

Fedspeak turns a little more hawkish, but that doesn’t keep Treasury yields from falling as markets insistently bet that interest cuts will come soon and will be fast. Another factor was FedEx earnings, which often act as a bellwether for global economic demand. The company revealed a lowered sales outlook, and the market just had nowhere to go but down. FedEx stock plunged after its downbeat revenue outlook, but Wall Street still sees reasons to back the company’s turnaround plan. Alphabet shares were on track for their highest close since April 2022.

• Brent crude rises 1.2% to $80.20 a barrel, boosting oil shares.
• A first 25-basis point cut in March is priced at 71%.
• And, indeed, according to Henley & Partners’ Crypto Wealth Report, there are more than 40,000 Bitcoin millionaires in the world right now.
• Cryptocurrency exchange Coinbase Global (COIN 0.43%), up a sizzling 330% in 2023, could be one of the biggest beneficiaries of any extended Bitcoin rally in 2024.
• Calculate how much is 2 Bitcoin in Dollar with a conversion calculator.

Philadelphia Fed’s President Patrick Harker said in a radio interview that the job of taming inflation isn’t done. Richmond Fed President Tom Barkin had similarly hawkish remarks yesterday. It had just gotten too hot—and Wall Street took profits.

Bitcoin to Dollar

Over a long enough period of time, even a relatively small upfront investment could turn into $1 million or more. And, indeed, according to Henley & Partners’ Crypto Wealth Report, there are more than 40,000 Bitcoin millionaires in the world right now. Create a chart for any currency pair in the world to see their currency history. These currency charts use live mid-market rates, are easy to use, and are very reliable. Another crypto stock that is highly leveraged to the price of Bitcoin is MicroStrategy (MSTR 0.38%).

On the surface, MicroStrategy might look a lot like an enterprise software stock. But MicroStrategy is really just a giant Bitcoin treasury. Some have even compared the company to a Bitcoin ETF.

BTC/CZK

To put that number into context, the current circulating supply of Bitcoin is about 20 million coins. Thus, MicroStrategy controls just under 1% of the total available Bitcoin supply in the world. Apple stock needs to close at $257.19 a share or higher to reach the $4 trillion https://cryptominer.services/white-label-crypto-exchange-software-by-wl-global-2/ market cap milestone. “Crude supply trends both in total and at Cushing remain as a significant deterrent against further upside price followthrough,” Ritterbusch says in a note. Stocks took a steep downturn in afternoon trading Wednesday and the market rally came to a halt.

BTC/EUR

European stocks trade mixed as U.S. stocks tread water amid continued uncertainty about the outlook for global interest rates. Gasoline stocks rose more than expected as refineries bumped up their capacity use, and U.S. crude production rose by 200,000 barrels a day to a record 13.3 million barrels a day. Crude futures rise for a sixth straight day, but settle well off early highs after the EIA reports an unexpected build in U.S. crude oil stocks. Recently, markets have been encouraged that the economy remains in growth mode. The rate of inflation is also slowing down and the Federal Reserve can cut interest rates to keep growth alive.

Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. Cryptocurrency exchange Coinbase Global (COIN 0.43%), up a sizzling 330% in 2023, could be one of the biggest beneficiaries https://cryptonews.wiki/cryptocurrency-news-comparison-of-prices-in-pounds/ of any extended Bitcoin rally in 2024. But when Bitcoin is up, investors suddenly decide to dip their toes into the crypto waters. So Bitcoin could be the key to bringing in new users and increasing overall trading volume.

Barron’s live coverage of financial markets, from stocks and bonds to oil and crypto.

Brent crude rises 1.2% to $80.20 a barrel, boosting oil shares. The EIA said crude inventories rose by 2.9 million barrels last week to 443.7 million barrels, against expectations in a Wall Street Journal survey for a 2.5 million-barrel draw. However, odds of a January cut reach 12%, up from 8% yesterday, in the CME’s FedWatch tool. A first 25-basis point cut in March is priced at 71%.

How much Bitcoin is too much Bitcoin?

In addition to courting the individual retail investor, Coinbase has been looking for ways to become more attractive to large institutional investors. In August 2022, for example, it partnered with BlackRock, the largest asset manager in the world, to provide crypto trading services to institutional investors. Then, last June, BlackRock tapped Coinbase to be the custodian for its highly anticipated spot Bitcoin exchange-traded fund (ETF) offering.