Saylor Buys $600M More BTC as Proshares BITO Hits ATH in AUM

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 1 December 2023

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

The tide has most definitely turned. NLW looks at a slew of institutional and investor news showing excitement is returning to crypto markets, and even examines how despite the Treasury's recent bluster, there appears to be more room to compromise than there was before. Today's Sponsor: Kraken Kraken: See what crypto can be - https://kraken.com/TheBreakdown Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribe to the newsletter: https://breakdown.beehiiv.com/ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

Transcript

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0:00.0	For all the bluster and frustration of this new Treasury proposal that we covered yesterday,
0:04.6	it still, even here, feels like we are sort of turning a corner towards real action.
0:10.2	It's messy and gross because that's the nature of Washington, D.C.,
0:13.2	but it's just hard not to look at everything happening, from markets to legislation and beyond,
0:18.0	and not feel like we're headed into a very, very different 2024 than the
0:21.7	year we just experienced.
0:24.5	Welcome back to The Breakdown with me, NLW.
0:28.7	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:37.9	What's going on, guys?
0:39.1	It is Friday, December 1st.
0:41.3	Happy December, everyone.
0:43.1	And today we are talking about, of course, Michael Saylor and new all-time highs for
0:48.3	the pro-share's Bitcoin futures ETF.
0:50.8	Before we get into that, however, if you are enjoying the breakdown, please go subscribe
0:54.1	to it, give it a rating, give it a review, or if you want if you are enjoying the breakdown, please go subscribe to it,
0:54.6	give it a rating, give it a review, or if you want to dive deeper into the conversation,
0:57.9	come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly slash
1:02.0	breakdown pod. Well, friends, the sun goes up, the sun goes down, and Michael Saylor
1:07.0	buys more Bitcoin. On Thursday, Micro Strategy disclosed that they had purchased an additional
1:12.1	16,130 Bitcoin throughout November, worth around $608 million at current prices. Their average
1:18.7	purchase price was around $36,785, so this tranche of Bitcoin is already slightly in profit.
1:25.2	Overall, Micro Strategy's massive war chest of 174,530 Bitcoin
	...

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