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RBC Proposes Options Bet on Bitcoin-Linked Tesla
Options traders could right now take advantage of a rare divergence in options metrics between the two bitcoin (BTC)-holding companies MicroStrategy and Tesla a strategist at investment bank RBC Capital Markets has suggested.According to a note written by RBC derivatives strategist Amy Wu Silverman, the stocks of both companies have risen along with the bitcoin price. However, the skew measuring the cost of bearish options bets – known as puts – versus bullish bets – known as calls – is now inverted for MicroStrategy while Tesla is at highs, Bloomberg reported on Monday.
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Jack Dorsey says Square may build a bitcoin mining system
Square CEO Jack Dorsey said late on Friday the company might jump into the bitcoin mining business.Dorsey tweeted that the company is considering a “bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide.” The price of bitcoin rose above $62,000 following Dorsey’s string of tweets, as the world’s most popular cryptocurrency pushes toward its all-time high.
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Who Bought $1.6B in Bitcoin and Why?
Like a toddler in a car seat on a long drive, last week the cryptocurrency market persistently asked the gnawing and annoying question, “Why?”Specifically, why did someone make a massive purchase of $1.6 billion worth of bitcoin on Wednesday in a couple of minutes?
