The crypto markets are exploding with enthusiasm these days, as you probably already know by now. Check out the latest optimistic predicitons below.
Huge crypto moves in the markets
The value of Bitcoin (BTC) and other crypto markets have seen a significant increase lately, causing the stock prices of three digital asset companies to soar.
These companies are Coinbase (COIN), Microstrategy (MSTR) and Grayscale Bitcoin Trust (GBTC). In the last week, BTC has risen by over 19%, resulting in a 7.3% increase in the shares of Coinbase, which is the largest cryptocurrency exchange in the US and is currently valued at $82.80.
Additionally, the shares of MicroStrategy, which is the largest publicly traded corporate holder of BTC, has seen a 12.6% increase in the last 24 hours and is currently trading at $425.
Grayscale’s Bitcoin Trust (GBTC), a digital asset manager that aims to mirror the price of Bitcoin, has experienced a 5% increase in the last 24 hours, currently valued at $25.96.
In August, Grayscale won a legal battle against the U.S. Securities and Exchange Commission (SEC) over its refusal to convert the Grayscale Bitcoin Trust into an exchange-traded fund (ETF). Yesterday, the court formally finalized Grayscale’s victory over the SEC.
Grayscale has registered shares of the Grayscale Bitcoin Trust (GBTC) under the Securities Act using a simplified Form S-3 registration statement, which is exclusive for companies that have met their reporting requirements.
The Form S-3 is a shorter version of Form S-1 that companies file before an Initial Public Offering (IPO).
We’ve been reporting a lot of details about the firm and the preparations that it is making in order to see the BTC ETF approval coming from the SEC.
People note that this will happen sooner rather than later. Stay tuned for more details from the crypto space and make sure to keep your eyes on the market.
