Bitcoin Hits All-Time High After BTC ETF Options Debut

Market Update - November 22, 2024

Takeaways

1. BlackRock’s iShares Bitcoin Trust became the first US spot bitcoin ETF approved for options trading: The price of bitcoin subsequently surged to nearly $98,000 on Thursday, reaching a new all-time high.
   
   
2. Institutional interest in MicroStrategy surged this week, with the value of those holdings jumping to $15.3 billion: Microstrategy founder Michael Saylor has continued to purchase bitcoin and MSTR shares have seen year-to-date gains of roughly 450%.
   
   
3. Trump considers Teresa Goody Guillén for SEC chair: Her appointment would likely usher in crypto-friendly policies and regulatory reform.
   
   
4. Meme coins including Bonk, Mog, and Brett have set all-time highs amid a rally partly driven by the resurgence of DOGE to $0.43: Bonk surged 120% following a burn campaign earlier this week, while Moo Deng also hit record prices.
   
   
5. Russia has drafted amendments to tax crypto income, classifying digital assets as property: The new laws would subject trading and mining income to a 15% personal income tax, while VAT exemptions would apply to crypto transactions.
   

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