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Cryptocurrency prices, including Bitcoin, Ethereum, XRP, and Dogecoin, fell ahead of a jobs report, with Bitcoin dropping 2.92% to $86,052.02. Over $600 million was liquidated in 24 hours, and market sentiment is at 'Extreme Fear.' Stocks of crypto-related companies also declined, with Strategy Inc. and Coinbase Global Inc. falling by 8.14% and 6.37%, respectively.
Strategy has made a significant Bitcoin purchase, acquiring $980.3 million worth between Dec. 8 and Dec. 14, marking its largest weekly purchase since July. This move, funded through sales of Class A common stock and preferred shares, has raised concerns about potential equity dilution. Despite a 6.7% drop in share price, Strategy remains in the Nasdaq 100 index. The company is also urging MSCI to reconsider a proposal affecting digital asset treasury firms. Bitcoin's price fell 1.8% during this period.
Dec 15 (Reuters) - Strategy Inc:* STRATEGY: BUYS 10,645 BTC BETWEEN DEC 8- DEC 14 FOR $980.3 MILLION IN TOTAL Source text: Further company coverage:
Cathie Wood, CEO of ARK Invest, plans to rebalance the portfolio by prioritizing Bitcoin as the top cryptocurrency, followed by Ethereum. She aims to adapt to innovation beyond the "Mag 7" and highlights Bitcoin's significance as a global monetary system. Ethereum is recognized for its smart contract platform, while Solana is noted as a leading consumer-targeted Layer-1 blockchain.
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