Stocks

Bitcoin fell below $90,000 for the second time this week after a brief rally to $94,000. BlackRock's IBIT has recorded net outflows in 11 of the past 15 trading sessions, totaling approximately $2.65 billion, data show.

Canada's largest pension manager disclosed a new position of 393,322 shares in MicroStrategy valued at approximately $127 million as of Q3, according to an SEC filing. Strategy purchased 8,178 BTC for $835.6 million at an average price of $102,171 per coin. The acquisition brings the company's total holdings to 649,870 BTC.

New Hampshire's Business Finance Authority approved a $100 million municipal bond collateralized by Bitcoin on November 19, 2025, according to the agency. BitGo serves as custodian for the collateral. The issuance marks the first U.S. state-level bond backed by cryptocurrency, incorporating automatic liquidation if Bitcoin's value falls below 130% of face value.

Strategy's Bitcoin holdings face significant unrealized losses after BTC dropped below $90,000. Nearly 40% of the company's 649,870 Bitcoin are currently underwater, according to CryptoQuant data. The firm's recent purchase of 8,178 BTC at $102,171 has declined by approximately $100 million in value.

Monad's public token sale on Coinbase slowed to approximately 64% subscription by Tuesday evening, down from 48% the previous day. The offering seeks to raise around $187 million in USDC through 7.5 billion MON tokens by Saturday. Daily demand has declined sharply after the sale generated approximately $43 million in its first 30 minutes on Monday.

Oracle Corporation's market capitalization has declined by $315 billion since announcing a $300 billion cloud infrastructure partnership with OpenAI on September 10. The company plans to allocate $35 billion toward capital expenditures in the current fiscal year, with projections reaching $80 billion annually by 2029. Net debt has increased to 2.5 times EBITDA, more than doubling since 2021, with negative cash flow expected through five consecutive fiscal years.

Canaan reported third-quarter revenue of $150.5 million, up 104% year-over-year, and posted a gross profit of $16.6 million after a $21.5 million loss in the prior-year period. The Bitcoin mining hardware manufacturer's stock rose approximately 18% following the earnings release. The company's self-mining operations produced 267 BTC during the quarter, contributing to record digital asset holdings.

Strategy's shares now trade at a discount to the market value of its bitcoin holdings, with its modified net asset value falling below 1. TD Cowen analysts maintain their $585 price target despite the decline, projecting the company will hold over 815,000 BTC by end-2027. The discount reflects short-term market volatility rather than fundamental weakness in the company's accumulation strategy, according to the firm.

Franklin Templeton will launch its XRP exchange-traded fund (EZRP) on November 18, followed by five additional issuers through November 25. Bitwise, 21Shares, CoinShares, Grayscale, and WisdomTree are scheduled to introduce their own XRP ETFs between November 20 and 25. Analysts view the concentrated rollout as a potential catalyst for institutional capital inflows despite recent price declines in the token.

Strategy, formerly MicroStrategy, purchased 8,178 Bitcoin for $835.6 million at an average price of $102,171 per coin. The Virginia-based firm now holds 649,870 BTC with a total acquisition cost of $48.37 billion, averaging $74,433 per Bitcoin.