đ Accounting magic for $4.1 billion and contrasts in Bitcoin-ETF: What you need to know today
According to the latest documents dated October 5, an interesting financial picture is unfolding on the market around Strategy and spot bitcoin ETFs. Collected the main insights:
đč Paper profit of $4.1 billion
Strategy estimated its tax benefit on income tax at an impressive $4.1 billion. This happened due to the fact that by the end of September the fair value of the bitcoin they held exceeded the cost. However, the CryptoSlate portal clarifies: you should not wait for the inflow of "live" money from the tax - this is a purely accounting adjustment for the reduction of estimated tax costs.
đč Without audit and false signals
The company itself claims that these indicators have been prepared by the management and have not yet been tested or audited by KPMG. It is important to understand the nuance: the cost of acquiring BTC, which is the basis of their ETF, differs from the break-even price for each specific shareholder. These figures in themselves are not a signal for the buyback of shares or mass sales in the market.
đč Outflows in the market, but BlackRock holds the blow
While paper adjustments are taking place, the real market shows mixed dynamics. On October 5, the net outflow of funds from the American spot Bitcoin-ETF amounted to $89.8 million. But the trend is not absolute: Farside Investors data show that the giant fund from BlackRock continues to record the inflow of investors' funds, going against the general trend.
Institutional capital continues to balance between fixing positions and point purchases.
According to the latest documents dated October 5, an interesting financial picture is unfolding on the market around Strategy and spot bitcoin ETFs. Collected the main insights:
đč Paper profit of $4.1 billion
Strategy estimated its tax benefit on income tax at an impressive $4.1 billion. This happened due to the fact that by the end of September the fair value of the bitcoin they held exceeded the cost. However, the CryptoSlate portal clarifies: you should not wait for the inflow of "live" money from the tax - this is a purely accounting adjustment for the reduction of estimated tax costs.
đč Without audit and false signals
The company itself claims that these indicators have been prepared by the management and have not yet been tested or audited by KPMG. It is important to understand the nuance: the cost of acquiring BTC, which is the basis of their ETF, differs from the break-even price for each specific shareholder. These figures in themselves are not a signal for the buyback of shares or mass sales in the market.
đč Outflows in the market, but BlackRock holds the blow
While paper adjustments are taking place, the real market shows mixed dynamics. On October 5, the net outflow of funds from the American spot Bitcoin-ETF amounted to $89.8 million. But the trend is not absolute: Farside Investors data show that the giant fund from BlackRock continues to record the inflow of investors' funds, going against the general trend.
Institutional capital continues to balance between fixing positions and point purchases.
