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Crypto

Bitcoin shifts from speculative asset to institutional treasury strategy, drawing Wall Street attention

Bitcoin is increasingly being treated less as a speculative target for retail investors and more as a financial asset used by institutional investors and companies, Bitcoin Magazine reported. Allen Helm (앨런 헬름), co-founder of Bitcoin for Corporations, said banks he speaks with no longer view bitcoin primarily as a speculative asset. He said institutions are using it as a base asset for designing digital credit products and securities, and are approaching it from a portfolio and capital-structure perspective.

Crypto

Asset manager Strive buys an additional 4,045 bitcoins, keeps buying with share funding

Asset manager Strive bought 4,045 bitcoins last week for about $335 million, lifting its total holdings to 36,818 BTC. It said it purchased the coins at an average $82,803 each from Oct. 12 to 16, including fees and expenses. The firm raised about $369 million through warrant exercises and issued 13.7 million common shares. Strive also announced a preferred share offering and its shares rose intraday.

Finance

Sh Suhyup Bank offers gift vouchers to win sole proprietors as primary banking clients

Sh Suhyup Bank is running an event to attract small business customers’ card merchant payout settlement accounts, offering gift vouchers worth up to 50,000 won. The promotion targets sole proprietors who first register Suhyup Bank as the deposit account for card sales from at least two card companies. Benefits are based on cumulative deposits during the event period, with vouchers issued at three thresholds.