Bitcoin soars above $52k and Tilray is up 10 per cent as sales improve
By John Shepard
09:00, 18 February 2021
Bitcoin (BTC) is trading at the $52,000 level as the market continues to see momentum on corporate investor interest. MicroStrategy, which started investing in BTC last summer, has upsized its planned capital raise from $600m to $900m due to the continued rally.
The business intelligence company intends to invest the proceeds of the bond sale in Bitcoin for its balance sheet and this is expected to support the coin in the weeks ahead as buyers anticipate further investment.
The ongoing rally is supporting the major altcoins with LTC hitting $239 and ETH at $1,900.
Tilray jumps on earnings after market close
Cannabis stock Tilray (TLRY), which soared last week, jumped after the close with the release of its latest earnings. The company narrowed its losses and boosted revenue into the end of 2020, and now it is busy preparing to merge with Aphria (APHA).
The deal will create the world’s largest pot company by revenue and the earnings boost could see the stock gain further on Thursday. Tilray has gained more than 300 per cent in the past few months as Democrats aim to legalise marijuana in the US.
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