Price roller-coaster underscores that because bitcoin has no underlying profit streams or interest payments, it's inherently a speculative bet on future market trends.
The company's largest-ever bond sale comes amid record earnings in the last quarter, a strong current-period sales forecast, and cash reserves near an all-time high.
The indexes are designed to not only help investors access the new asset class but also will mitigate some of the risks associated with "this traditionally speculative market."
"We want to signal our support for credit-sensitive rates alongside SOFR. There's a lot of work being done on having a rate that looks and feels like LIBOR," according to a BofA representative.
Called the "American Families Plan," Biden's third major legislative proposal combines $1 trillion in spending with $800 billion in tax cuts and credits for middle- and lower-income families.
Shortages, bottlenecks, and a year-long bull market in commodities have input costs near a 13-year high. Compounded by a year's worth of pent-up demand, these trends are driving inflation in consumer goods prices.
Some oil majors will pay down debt, some will focus on returning cash to shareholders. All are expected to neglect capex, perhaps to the detriment of their business's long-term prospects.
