Crypto Funds Receive Record Investment Over Recent Weeks – December 8

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$18,760

Bitcoin price has taken a small tumble overnight, slipping back into the $18,000s to begin Tuesday.

Top-20 altcoins are also down across the board, as Ethereum falls almost 4%, XRP falls 3%, and NEM takes the biggest hit of 12%.

Top Stories for December 8, 2020 🔥

👉 Crypto Funds Receive Record Investment Over Recent Weeks

Large-scale cryptocurrency funds have received record investment inflows over the last few weeks, according to a report from Reuters.

Weekly inflows to the tracked funds peaked three weeks ago with $468 million of new funds entering the space, while last week also easily breached $400 million.

Unsurprisingly, the majority of last week’s inflows went into Bitcoin ($334.7 million), while $87.1 million was allocated towards Ethereum.

👉 Spain’s Second-Largest Bank May Launch Crypto Trading and Custody

Spain’s second-largest bank, BBVA, has been reported to be launching cryptocurrency trading and custody services, according to two sources.

It is claimed that the services will be offered from Switzerland and is awaiting regulatory approval, with services expected to launch in January.

👉 Microstrategy Announces Securities Offering To Buy More Bitcoin

Microstrategy, who have made headlines for their mammoth Bitcoin acquisitions this year, have announced that they will be attempting to raise $400 million via a securities offering to purchase more Bitcoin.

The firm will issue $400 million in convertible senior notes, which can be converted into shares in the company.