From Amazon to Bitcoin? Bezos's $8.5 Billion Mystery Move!

After selling billions worth of Amazon shares, the crypto space is rife with rumors that Bezos could be gearing up to buy Bitcoin.

Author

Danielle du Toit
March 01, 2024

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Here's what we've got for you today:

  • Jeff Bezos Enters the Bitcoin Speculation Spotlight After Amazon Stock Sale

  • Eight State AGs in US Challenge SEC’s Authority in Kraken Lawsuit With Joint Amicus Brief

  • Bank of America, Wells Fargo add Spot Bitcoin ETFs to Offering

  • BlackRock and B3 Partner to Bring Bitcoin to Brazilian Investors

Jeff Bezos offloads $8.5 billion worth of Amazon shares, fueling speculation about potential Bitcoin investments.

  • Jeff Bezos recently sold Amazon shares amounting to $8.5 billion, which naturally attracted the attention of financial analysts and crypto followers.

  • Bezos's appearance at a dinner with fiancée Lauren Sanchez and Bitcoin advocate Michael Saylor, the CEO of MicroStrategy, just further intensified speculation about his interest in Bitcoin.

  • Adding fuel to the fire, InvestAnswers pointed out a large Bitcoin transaction involving 26,200 BTC, suggesting it could be associated with a wealthy investor, which many now believe could be Bezos.

A coalition of attorneys general from eight U.S. states is challenging the SEC's oversight of cryptocurrency assets.

  • Attorneys general from eight states filed a joint amicus brief opposing the SEC's regulation of crypto assets without an investment contract, arguing that Congress has not given such authority to the SEC.

  • The brief was filed in response to Kraken's motion to dismiss the SEC’s lawsuit, with Kraken arguing the SEC's claims are flawed.

  • The SEC sued Kraken in November for several violations, including operating without proper registration, failing to prevent conflicts of interest, and commingling client funds.

Two months after their debut, two Wall Street investment firms will back trading in spot Bitcoin ETFs.

  • Merrill Lynch and Wells Fargo will now allow brokerage account holders to trade spot Bitcoin ETFs due to very high demand.

  • Bitcoin's value has surged almost 50% this year, mostly due to the influx of investments from retail investors, hedge funds, and other financial entities into ETFs.

  • There are reports that Morgan Stanley is also considering offering its clients access to spot Bitcoin ETF trading.

BlackRock has launched a Bitcoin ETF in Brazil, named iShares Bitcoin Trust ETF BDR (IBIT39).

  • The Brazilian ETF plans to replicate the performance of BlackRock's Bitcoin ETF in the U.S., with a 0.25% administrative fee that will be waived for the first $5 billion of AUM.

  • Initial access to the Brazilian fund is limited to investors with a minimum of 1 million reals ($201,000) already invested in the market.

  • BlackRock's spot Bitcoin ETF in the U.S. has seen great success, quickly hitting $2 billion in AUM within just two weeks after the SEC’s approval.

👀 QUICK NEWS

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