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Crypto News

Bitcoin (BTC) Surpasses $110,000 with a 1.94% Increase in 24 Hours

Bitcoin (BTC) crossed the $110,000 benchmark and is now trading at $110,095, with a 1.94% increase in 24 hours.

Ethereum(ETH) Rises to $3,900 with a 0.6% Increase in 24 Hours

Ethereum rose to $3,900 and is now trading at $3,885, with a 0.6% increase in 24 hours.

Prediction Market Kalshi Fields Investor Offers at More Than $10 Billion Valuation

Prediction market Kalshi is receiving funding offers from venture capital investors that would value the startup at more than $10 billion, according to people familiar with the matter — interest that comes just weeks after Kalshi announced a $300 million funding round at a $5 billion valuation.

Investors have been eager to back the fast-growing startup, and have discussed funding the company at valuations ranging from $10 billion to $12 billion or higher, according to the people, who asked not to be identified discussing private information.

Tesla Booked $80M Profit on Bitcoin Holdings in Q3

Tesla Motors continued to hold 11,509 BTC, valued at around $1.35 billion as of the end of the third quarter (valued somewhat less as of today).

The rise in bitcoin's value during the third quarter allowed the company to book an $80 million gain on its holdings. For perspective, adjusted EBITDA for the quarter was $4.3 billion and the company was sitting on total cash and equivalents of $41.6 billion as of the end of the quarter.

Ark Invest Adds $21.3 Million in Robinhood Shares

Cathie Wood’s Ark Invest has expanded its position in Robinhood, purchasing an additional 167,489 shares valued at approximately $21.3 million, according to data from Ark Invest Tracker.

Bitcoin Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Wednesday was $101.29 million. The total net asset value of Bitcoin spot ETFs is $146.27 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.81%.

The Bitcoin spot ETF with the highest net outflow on Oct. 22 was Grayscale Bitcoin Trust ETF, with a net outflow of $56.63 million. Followed by Fidelity Wise Origin Bitcoin Fund, with a net outflow of 56.56 million, according to SoSoValue.

SoSoValue