Crypto Update: MicroStrategy's Massive Bitcoin Purchase, Robinhood's SEC News & Ethereum Upgrade
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In this thrilling episode of The Modern Investor, we dive headfirst into the high-octane world of cryptocurrency, where MicroStrategy is making waves with their jaw-dropping purchase of 20,356 Bitcoins for a staggering $1.99 billion. But hold on to your hats, because despite their massive buys, Bitcoin's price remains surprisingly unmoved, defying all expectations. It's like watching a Formula 1 race where the leader suddenly hits the brakes, leaving everyone scratching their heads.
Meanwhile, over at Robinhood, the SEC has dropped their investigation into the company's crypto arm, echoing Coinbase's recent legal victory. It's like witnessing a dramatic plot twist in a blockbuster movie - you never know what's coming next. And speaking of surprises, the SEC has decided to postpone their decision on Bitwise's Ethereum ETF options trading until April 9, adding yet another layer of suspense to the cryptocurrency saga.
But wait, there's more! The SEC is also considering adding staking clauses to US ETFs for Ethereum, a move that could revolutionize the game for crypto investors. And let's not forget about Ethereum's upcoming upgrade, Spectra, set to double layer twos' capacity. It's like watching a supercar get a turbo boost, propelling it into the stratosphere of technological innovation. So buckle up, folks, because the world of cryptocurrency is speeding ahead at breakneck speed, and you won't want to miss a single twist and turn in this exhilarating ride.
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