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MicroStrategy will continue to purchase bitcoin this year, says CFO

MicroStrategy Chief Financial Officer Phong Le says the firm will continue to purchase bitcoin despite recent downturns. In an interview with The Wall Street Journal, Le said it’s unclear if the firm will buy more bitcoin than it did last year year, but it will continue to buy. As of December 29, 2021, the firm held approximately 124,391 bitcoins, according to its filings with the Securities and Exchange Commission.  Meanwhile, the SEC also wants MicroStrategy to amend how it discloses …

Valkyrie launches innovative balance sheet ETF

Issuer Valkyrie Funds launched a new exchange-traded fund (ETF) yesterday which holds public firms with bitcoin on the balance sheet. The Valkyrie Balance Sheet Opportunities ETF aims to give investors exposure to bitcoin by holding firms that directly or indirectly invest in, transact in or hold bitcoin on their balance sheets. That includes firms like MicroStrategy, Block (formerly Square), Tesla, Coinbase and PayPal among others.  The fund plans to limit its exposure to mining companies in order to mitigate risk …