Coin Stories News Block: Bitcoin ETFs Surge vs Gold, MicroStrategy Could Issue 10 Billion Shares, Russia's Mining Ban, Tether’s $775M Rumble Deal
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Dec 26, 2024 Bitcoin ETFs are rapidly closing the gap on gold ETFs, sparking discussions about the shifting landscape of digital finance. MicroStrategy is eyeing a massive share issuance of 10 billion, aiming to further expand its Bitcoin reserves. Meanwhile, Russia has imposed a six-year ban on Bitcoin mining, raising concerns for miners in the region. In an exciting twist, Tether has secured a $775 million investment from Rumble, emphasizing the cryptocurrency's connection to free speech.
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Bitcoin ETFs vs Gold ETFs
- Bitcoin ETFs are gaining popularity and approaching gold ETFs in assets under management.
- This is happening despite limited access for some financial institutions.
MicroStrategy's Share Increase
- MicroStrategy, a major Bitcoin holder, plans to increase its authorized shares to 10.33 billion.
- This move aims to provide flexibility for future Bitcoin purchases, not immediate dilution.
Russia's Contradictory Bitcoin Stance
- Russia is reportedly using Bitcoin for international payments and considers it inevitable.
- However, they've also imposed a mining ban in some regions due to energy concerns.