White House Releases Digital Asset Report

Headline: Last Friday, the White House released its report on blockchain and digital assets, calling it the “first ever comprehensive framework for responsible development of digital assets

Analysis: The White House report tries to strike a tone between enforcement and consumer protection on one hand and innovation on the other, stating, among other things a desire to “promote innovation by kick-starting private-sector research and development and helping U.S. firms find footholds in global markets. The report received mixed reception from industry analysts who felt the tone around innovation was constructive while critiquing it for vagueness. For more information, read our analysis on the White House executive order. Click here.

Microstrategy (NASDAQ: MSTR) Keeps Buying More Bitcoin

Headline: Microstrategy (NASDAQ: MSTR) announced it purchased 401 Bitcoin for approx. $6 million. The firm now holds approximately 130,000 Bitcoin at an average cost of around $30,000. The company is now a Bitcoin holding company in all but name only.

Analysis: In the U.S., a spot Bitcoin ETF has not been approved by securities regulators, so many public equity investors who want Bitcoin exposure but don’t want to hold the underlying asset end up buying MSTR as a proxy, despite the fact that they’re not necessarily getting the direct exposure they want. By contrast, in Canada, the OSC has approved spot Bitcoin ETFs, which are a simpler and more cost-effective way to gain exposure to Bitcoin – To learn more about Ninepoint’s Bitcoin ETF, click here.