cryptojournalist
MicroStrategy continues to build its massive Bitcoin stash. In November, the company bought 27,200 BTC for $2.03 billion, bringing its total Bitcoin holdings to 279,420 BTC—worth about $25 billion at today’s prices. The company has been raising funds through debt to support this strategy and plans to raise another $42 billion over the next few years to keep buying. However, despite its growing Bitcoin bet, MicroStrategy’s Q3 revenue dropped 10% from last year and came in below analysts’ expectations.
Coinbase Launches New Crypto Index
Coinbase has introduced the COIN50 Index, which tracks over 50 different cryptocurrencies. Bitcoin, Ether, Solana, and Dogecoin make up most of the index’s value. This new offering is aimed at investors in emerging markets and crypto-friendly regions, avoiding major markets like the US, UK, and Canada. Coinbase also recently bought Utopia Labs to expand its on-chain payment capabilities.
Kaiko Expands with New Acquisition
Crypto data company Kaiko has acquired Vinter, a European crypto index provider, to boost its influence in Europe’s exchange-traded product (ETP) market. This is Kaiko’s third acquisition, following its 2022 purchases of Kesitys and the Napoleon Index from CoinShares.
MARA Misses Earnings Expectations
Bitcoin miner MARA Holdings (formerly Marathon Digital) reported a $0.34 loss per share for Q3, missing earnings expectations. Although the company’s revenue grew 34.5% to $131.6 million, it still came up short of the $148.1 million target. Increased operational costs contributed to a $124.8 million net loss for the quarter.
MoonPay Makes DeFi More Accessible
MoonPay has launched MoonPay Balance, a new service that lets users store and spend euros and pounds through the platform. The tool integrates with self-custodial wallets like MetaMask and Bitcoin.com, making it easier for users to access decentralized finance (DeFi). The feature is available in the UK and most European countries, excluding Germany.
