Wall Street hit by crypto slump, ASX set to rise
Strategy, the company that used to be known as MicroStrategy and now raises money just to buy bitcoin, lost 10.9 per cent. It said that it raised a fund of $US1.44 billion ($2.1 billion) in US dollars, not in bitcoin, by selling stock to help pay for its dividends on preferred shares and interest on its debt.
On the winning side of Wall Street was Synposys, which rose 3.5 per cent. It said Nvidia is investing $US2 billion in its stock as part of an expanded partnership. Nvidia, which has become Wall Street’s most influential stock, swung from an early loss to a gain of 1.2 per cent.
The market, meanwhile, had a mixed reaction to what seems like a strong start for the holiday shopping season. Consumer spending during the Black Friday and…
