🚨 Major Updates Shaping the Crypto Landscape Today!

Author

CoinGape Media
March 11, 2025

News

SGX To Launch Open-Ended Bitcoin Futures Contracts In 2025

According to a Bloomberg report on March 10, SGX is planning to launch open-ended Bitcoin futures contracts as soon as the second half of 2025. This news was revealed by a company spokesperson via an email, per the report.

Notably, this endeavor is set to offer services strictly to institutional clients and professional investors. Meanwhile, retail traders are to be excluded from trading this product.

For context, the decision by a prominently established exchange operator to list Bitcoin futures contracts signals a paradigm shift in interest towards cryptocurrencies, coming in an effort to not lag in the global pro-crypto race.

So far, Donald Trump’s pro-crypto advancements, such as the BTC reserve and a crypto stockpile announcement, have heated the global race for tapping into crypto’s full potential.

MicroStrategy To Raise $21 Billion To Buy More Bitcoin

In a press release, MicroStrategy revealed plans to raise up to $21 billion to buy more Bitcoin. This followed the company’s announcement that it has entered into a sales agreement, which allows them to issue and sell shares of its 8.00% series A perpetual strike preferred stock at $0.001 par value per share, which sums up to $21 billion.

Strategy revealed that it expects to sell perpetual strike preferred stock pursuant to the at-the-market (ATM) Program in a “disciplined manner” over an extended period. The company will take into account the trading price and trading volumes of the perpetual strike preferred stock at the time of sale.

MicroStrategy specifically mentioned that it intends to use the net proceeds from the ATM Program for general corporate purposes, including acquiring Bitcoin and working capital.

This development comes just a week after Strategy announced that it failed to buy Bitcoin the prior week. This move was out of character, considering that the company has made BTC purchases almost every week since the start of the year. Michael Saylor’s company currently holds 499,096 bitcoins, which it acquired for $33.1 billion at an average price of $66,357 per BTC.