—— Bitcoin Surges Past $82,000 For the First Time; MicroStrategy Buys Another $2.03bn of Bitcoin; China Trade Surplus Approaching $1tn; Hedge Funds Lost $5.2bn Shorting Tesla; AI Startup 11x Raises $50mn in New Fund Raise; Traders See Bitcoin Reaching $100k by Year End; Blackstone in Late Talks to Acquire Industrial PE Firm
1. Bitcoin Surges Past $82,000 For the First Time
Bitcoin surged past $82,000 for the first time, driven by President-elect Donald Trump’s support for digital assets and the election of pro-crypto legislators to Congress.
Trump’s confirmed victory in Arizona completed his sweep of the seven key battleground states in the U.S. This triumph in the presidential election has been met with enthusiasm from the digital-asset industry, which invested over $100 million in supporting crypto-friendly candidates.
The largest cryptocurrency soared up to 6.1% on Sunday and continued its ascent to a record high of $82,497 by early Monday morning in New York.
This positive momentum also boosted other cryptocurrencies, including Dogecoin, which is popular among the meme crowd and endorsed by Trump supporter Elon Musk, currently the wealthiest person in the world.
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2. MicroStrategy Buys Another $2.03bn of Bitcoin
MicroStrategy Inc. has made a significant acquisition of approximately 27,200 Bitcoin, valued at about $2.03 billion, positioning it as one of the largest single purchases of the digital asset by a corporate entity acting as a crypto hedge-fund proxy.
The enterprise software company, known for its strategy of investing in Bitcoin, executed these purchases between October 31 and November 10, funded through the issuance and sale of its stock, as stated in a Monday announcement.
These recent acquisitions have elevated MicroStrategy’s total Bitcoin holdings to nearly $23 billion, calculated at the record Bitcoin price of over $82,000 each on Monday.
As of November 10, the Tysons Corner, Virginia-based company and its subsidiaries collectively possess around 279,420 Bitcoins. These were acquired at an aggregate investment of approximately $11.9 billion, averaging about $42,692 per Bitcoin, including fees and expenses.
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3. China Trade Surplus Approaching $1tn
China’s trade surplus is poised to set a new record this year, potentially exacerbating tensions with major global economies and drawing scrutiny from President-elect Donald Trump.
If the current trend continues, the surplus could approach $1 trillion by year-end, based on Bloomberg’s projections. In the first ten months, China’s goods trade surplus expanded to $785 billion, a 16% increase from 2023 and the highest recorded for this period, recent data shows.
As domestic demand in China remains weak, the nation has increasingly relied on exports. This reliance has prompted Beijing to implement economic stimulus measures recently.
The growing trade imbalance has already triggered protective measures from various countries. With Trump’s impending presidency, the U.S. is likely to impose tariffs aimed at curbing Chinese exports.
Similarly, nations across South America and Europe have heightened tariffs on imports of Chinese products like steel and electric vehicles, reflecting global pushback against China’s trade practices.
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4. Hedge Funds Lost $5.2bn Shorting Tesla
Since Donald Trump’s recent election victory, hedge funds with short positions on Tesla Inc. have experienced significant losses, amounting to billions of dollars, due to the strengthening ties between President-elect Trump and Elon Musk.
According to Bloomberg calculations based on data from S3 Partners, hedge funds that maintained short bets against Tesla from election day to the end of the week faced losses of at least $5.2 billion. This setback highlights the risks of betting against a company whose CEO has close connections with the incoming administration.
Data from Hazeltree, which tracks over 500 hedge funds, shows that many hedge funds have been closing their short positions on Tesla in the past four months. This shift aligns with Musk’s public endorsement of Trump on July 13.
As CEO of Tesla and the world’s wealthiest individual, Musk has not only supported Trump’s campaign financially but has also positioned himself for potential political influence, indicating that Trump is likely to favor his loyal supporters.
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5. AI Startup 11x Raises $50mn in New Fund Raise
The AI-driven sales startup 11x has secured $50 million in a recent funding round led by Andreessen Horowitz, with an announcement expected this coming Monday. This round of financing significantly boosts the young company’s profile in the AI industry.
Hubspot Ventures also participated in this round, bringing the startup’s valuation to $320 million. This follows closely on the heels of a September financing round led by Benchmark, which raised $24 million, bringing 11x’s total funding to $76 million.
Established in 2022, 11x specializes in developing AI bots that assist sales personnel with routine tasks. Their initial bot, named Alice, aids in generating sales leads, conducting research, and managing customer outreach.
The company’s latest innovation, a bot named Jordan, functions as an AI sales representative capable of handling customer calls in 30 different languages, according to 11x.
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6. Traders See Bitcoin Reaching $100k by Year End
Following Donald Trump’s election victory, Bitcoin options traders are increasingly optimistic, setting their sights on the cryptocurrency reaching $100,000 by year-end, buoyed by prospects of a more crypto-friendly administration. This surge in sentiment comes as Bitcoin hits a new high, exceeding $82,000 for the first time on Monday, spurred by expectations of favorable regulatory changes under the Trump administration.
Data from the crypto options exchange Deribit shows a significant number of bets placed on Bitcoin surpassing the $100,000 milestone before the close of the year. The digital asset community is feeling particularly upbeat after Trump’s win, a stark contrast to his earlier skeptical views on cryptocurrencies.
This year, Trump has reversed his stance, appealing to both voters and donors with promises to build up a Bitcoin reserve and to dismiss SEC Chair Gary Gensler, known for his stringent oversight of the crypto sector.
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7. Blackstone in Late Talks to Acquire Industrial PE Firm
A division of Blackstone Inc. is reportedly nearing an agreement to buy a minority stake in American Industrial Partners (AIP), according to sources familiar with the discussions.
While the deal has not yet been finalized, an announcement could potentially be made in the upcoming weeks. The specific terms of the potential transaction are currently unclear.
American Industrial Partners, a New York-based private equity firm known for its investments in mid-market industrial companies, has declined to comment on the matter. Blackstone has not responded to requests for comment.
AIP manages approximately $16 billion in assets and recently announced the acquisition of AGCO Corp.’s grain and protein division earlier this month.
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本文内容来自《Financial Times》、《Bloomberg》，以及《The Real Deal》等多家财经新闻媒体。