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BTCUSD

MSTR

Drake shared a video of MicroStrategy CEO Michael Saylor discussing Bitcoin's long-term value, emphasizing a strategy of holding Bitcoin for 100 years. Saylor's firm holds about 205,000 Bitcoin units, valued at nearly $14.6 billion. This endorsement comes amid Bitcoin's price surge to $72,075, following SEC's approval of Bitcoin ETFs and significant investments from major firms.

Portfolio Pulse from Mehab Qureshi

March 13, 2024 | 9:15 am

BTCUSD

TSLA

Elon Musk humorously compared the U.S. Dollar to a 'scam coin' on X, highlighting its high circulation, central control, and inequitable distribution. Meanwhile, Tesla has profited over $230 million from its Bitcoin holdings, attributed to the launch of Bitcoin spot ETFs and Bitcoin's value reaching $72,000.

Portfolio Pulse from Mehab Qureshi

March 13, 2024 | 7:29 am

EWU

The U.K.'s trade balance with non-EU countries for January showed a deficit of -3.42 billion, slightly worse than the previous month's -3.32 billion. The iShares MSCI United Kingdom ETF (EWU) may be impacted as it tracks the investment results of an index composed of U.K. equities.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 7:05 am

EWU

U.K. Manufacturing Production for January remained unchanged at 0.0%, aligning with estimates and showing a decrease from the previous month's 0.8% growth.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 7:04 am

EWU

U.K. Industrial Production decreased by 0.2% in January, missing the estimated 0.0% and down from the previous 0.6% increase.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 7:04 am

BTCUSD

Coinbase CEO Brian Armstrong suggests buying Bitcoin as a solution to the U.S. national debt crisis, in response to analyst Robert Sterling's alarming chart showing rapid debt growth. Sterling's analysis indicates the debt is increasing by $1 trillion every 90-120 days, with projections of it reaching over $37 trillion by 2025. The Treasury Department confirms the debt at $34.47 trillion, with Moody's recently downgrading the U.S. financial health outlook. Armstrong proposes Bitcoin as a way to 'vote with your dollars' and potentially save the U.S. long term.

Portfolio Pulse from Mehab Qureshi

March 13, 2024 | 4:41 am

ARKF

ARKK

ARKW

COIN

Ark Invest, led by Cathie Wood, sold 106,000 shares of Coinbase Global Inc (COIN) valued at $27.15 million across three ETFs: ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and Ark Fintech Innovation ETF (ARKF), despite Bitcoin's recent all-time highs. This sale followed a previous day's sale of $68.7 million in Coinbase shares. Additionally, Ark Invest made key trades by buying shares in Sea Ltd (SE), NU Holdings Ltd (NU), Pinterest Inc (PINS), and Moderna Inc (MRNA), while selling shares of CRISPR Therapeutics AG (CRSP).

Portfolio Pulse from Benzinga Neuro

March 13, 2024 | 3:57 am

BTCUSD

DOGEUSD

ETHUSD

Cryptocurrencies experienced a slight downturn amid hotter-than-expected CPI data, with Bitcoin, Ethereum, and Dogecoin seeing declines. The volatility led to over $363 million in leveraged derivatives positions being liquidated. Despite this, analysts remain bullish on Bitcoin, predicting consolidation before further rallies. The cryptocurrency market cap slightly decreased, while U.S. stocks surged following the CPI data release. Analysts highlight Bitcoin's strong market structure and predict significant price targets.

Portfolio Pulse from Mehab Qureshi

March 13, 2024 | 3:22 am

GBTC

Grayscale announces the launch of a new Bitcoin ETF, the Grayscale Bitcoin Mini Trust (ticker: BTC), as a strategic spin-off from its Grayscale Bitcoin Trust (OTC:GBTC). This move aims to offer a more cost-effective product and revitalize GBTC amid financial challenges and significant outflows since its conversion to a spot Bitcoin ETF. The spin-off will transfer a portion of GBTC's Bitcoin holdings to the new Mini Trust, with GBTC shareholders receiving equivalent BTC shares, ensuring no tax liabilities. The exact details of the Bitcoin reallocation and management fees are yet undisclosed.

Portfolio Pulse from Murtuza Merchant

March 12, 2024 | 9:42 pm

MAR

Over the past 5 years, Marriott Intl (NASDAQ:MAR) has outperformed the market with an annualized return of 14.94%, growing a $1000 investment to $2,049.46. The company currently has a market capitalization of $72.77 billion.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 9:30 pm