Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Bitcoin And Oil

By Naeem AslamCryptocurrencyNov 30, 2021 02:22AM ET
www.investing.com/analysis/bitcoin-and-oil-200609918
Bitcoin And Oil
By Naeem Aslam   |  Nov 30, 2021 02:22AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Bitcoin

Bitcoin prices rose beyond the $58,000 barrier as a result of a general increase in market mood and a regression in financial markets. Cryptocurrencies have performed exceptionally well in recent months, even breaking prior milestones. As a result, organizations that are positively associated with Bitcoin and other digital currency have increased in value, as demonstrated by MicroStrategy.

Microstrategy (NASDAQ:MSTR) has emerged as the firm with the most Bitcoin exposure on its financial sheet. During the recent drop in cryptocurrency prices, the business acquired $414 million in Bitcoin.

Investors should be aware that MicroStrategy currently owns around 121,044 tokens worth a total of $7 billion. If Bitcoin prices continue to rise after a brief fall during the Thanksgiving holiday, the company's revenues might more than quadruple, based on the average price paid to buy the digital assets. After MicroStrategy announced its recent purchase of Bitcoins, the company’s stock price jumped to $693, rising nearly 4.5%.

Oil

Oil prices rose after falling below $70, as investors expected that the Omicron variant will reduce oil demand due to lockdowns and travel restrictions, similar to the larger financial markets. However, there have been no evident grounds for the markets to worry since signs of the new strain appear to be moderate and, as of time of writing, officials are optimistic that they will be able to regulate the issue effectively and efficiently.

Another explanation for the sharp decline in oil prices might be that investors were cashing in profits triggered by the Omicron announcement, since oil prices had previously reached their highest level in roughly seven years, surpassing the $85 mark in October.

Brent crude oil, the worldwide standard, also reached a three-month high. The most important event for oil is OPEC+’s meeting to be held this week, in which the group will discuss the risk of Omicron to broader oil markets and decide on production for January 2022.

Bitcoin And Oil
 

Related Articles

Crypto Briefing
Dogecoin Up As Musk Says Tesla Is Accepting Payments By Crypto Briefing - Jan 16, 2022

Dogecoin rallied after Elon Musk revealed that Tesla (NASDAQ:TSLA) was accepting the meme coin for merchandise payments.Key Takeaways Dogecoin jumped Saturday after Elon Musk...

Bitcoin And Oil

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email