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MicroStrategy Plans to Raise Funds to Buy More Bitcoin
Business intelligence firm MicroStrategy may buy more Bitcoin with funds raised from selling some of its shares to Cowen and Company and BTIG. The company, which already has the largest Bitcoin holdings among publicly registered companies, wants to sell $500 million of its Class A shares to these investment firms. MicroStrategy Eyes More Bitcoin According to the prospectus sent to the Security and Exchange Commission (SEC), the company may use the proceeds to buy more Bitcoin. The Bitcoin-hodling company acknowledged the recent price swings that had seen the flagship asset drop below the $20,000 level, revealing that it has its […]
Fidelity plans to offer Bitcoin in its 401(k) retirement funds. But is it best for you?
Fidelity plans to add bitcoin to its 401(k) options. Fidelity says it’s responding to high interest in digital assets. But critics say investing retirement funds in bitcoin is too risky. Bitcoin is down more than 16% this year, but that hasn’t dampened enthusiasm for the asset. That’s why Fidelity Investments is launching a bitcoin option for its 401(k) plans, but investors may still want to think long and hard about whether it’s for them. The nation’s largest plan administrator said later this year, the 23,000 companies it manages retirement plans for will be able to offer their employees bitcoin as an investment choice. Investors would […]