Bitcoin surged to a new all-time high of $106.5K, marking a historic moment in its 16-year trajectory. As the world’s leading cryptocurrency gained almost 200% this year, there was a key contributing factor to this price surge. The latest data suggest a notable increase in whale wallet activity that has pushed it to a new...Read More
Republican State Representative Giovanni Capriglione has officially filed to create a strategic Bitcoin (BTC) reserve for Texas. According to him, the bill is meant to enhance fiscal stability while solidifying the state’s leadership in digital innovation. The Proposed Legislation Capriglione announced the proposed Texas Strategic Bitcoin Reserve Act (H.B. No. 1598) during an X Spaces...Read More
Vancouver’s city council has voted in favor of exploring the use of BTC in municipal finances, marking a significant step toward making the city “Bitcoin-friendly.” Mayor Ken Sim introduced the motion, which passed on Wednesday with strong support from six councilors. Two voted against it, and three were absent. Vancouver to Explore Bitcoin Integration The...Read More
Anton Tkachev, a State Duma deputy from the New People Party, has formally proposed establishing a strategic Bitcoin reserve in Russia. Tkachev sent an appeal to Russian Finance Minister Anton Siluanov urging an assessment of the feasibility of creating such a reserve. Arguments in Support of the Initiative The document, cited by local media, highlights...Read More
Bitcoin’s (BTC) 7% surge above $100,000 in the past 24 hours has ignited a massive reaction in the crypto community. Market experts and analysts are discussing factors that led to the historic move and speculating about how high bitcoin can go, given the current state of the market. CryptoPotato received remarks from analysts at the...Read More
Rumble, the popular online streaming and video platform, announced that its Board of Directors has approved a plan to diversify the company’s treasury by allocating a portion of its surplus cash into Bitcoin. As part of this new strategy, the company plans to invest up to $20 million in BTC, with purchases made at its...Read More
Vancouver Mayor Ken Sim has revealed plans to incorporate Bitcoin (BTC) into the city’s investment portfolio, aiming to position the town as a crypto-friendly hub. This initiative seeks to diversify the city’s financial assets by including Bitcoin on its balance sheet. The Mayor’s Plan During a November 26 Vancouver city council meeting, Sim introduced a...Read More
Bitcoin’s (BTC) surge past initial resistance levels to new all-time highs last week led the cryptocurrency to become the world’s seventh-largest asset by market capitalization, a sign that it has gone mainstream. According to a Bitfinex report, BTC is now competing with Apple (AAPL), Microsoft (MSFT), Nvidia (NVDA), Google (GOOG), Amazon (AMZN), and Gold (GOLD)....Read More
Wyoming Senator Cynthia Lummis has reiterated her commitment to establishing a strategic Bitcoin (BTC) reserve for the United States. The lawmaker, known for her strong pro-crypto stance, highlighted these plans following the recent Republican victories in the Senate, more so of largely digital asset-friendly legislators. Senator to Move Forward With Strategic BTC Reserve Bill In...Read More
The State of Michigan Retirement System (SMRS) has significantly increased its Ethereum (ETH) holdings, raising its investment to $10 million and surpassing its Bitcoin (BTC) allocation. This move makes Michigan the first U.S. state pension fund to invest in an Ethereum-based exchange-traded fund (ETF). Michigan Pension Fund’s Crypto Portfolio SMRS, which boasts more than $13...Read More
Florida Chief Financial Officer (CFO) Jimmy Patronis wants to include Bitcoin (BTC) in the state’s pension fund investments. To that end, he has sent a formal request to Chris Spencer, the Executive Director of Florida’s State Board of Administration, highlighting the need for a digital currency investment pilot program. CFO Wants Bitcoin Feasibility Study In...Read More
The Bitcoin (BTC) rewards app Fold has submitted its S-4 filing to the U.S. Securities and Exchange Commission (SEC), initiating the process for an initial public offering (IPO). The filing follows an announcement in July that it plans to go public through a merger with FTAC Emerald Acquisition Corp. Details of the Merger The filing...Read More
At the 2024 Tsinghua PBC Chief Economist Forum, former Chinese Vice Minister of Finance Zhu Guangyao urged China to re-evaluate its approach to the crypto industry. He cited the evolving international stance on digital currencies, particularly in the United States, where the asset class has gained political support from key figures like U.S. presidential candidate...Read More
Matt Hougan, Chief Investment Officer of Bitwise Asset Management, has reported a shift in crypto adoption among the country’s top financial advisors. Reflecting on his speech at the Barron’s Advisor 100 Summit last Friday, Hougan noted that 70% of the attending financial advisors now personally hold cryptocurrency, a noteworthy increase from just two years ago...Read More
India has again ranked as the leading country with local investors adopting crypto. The latest metric comes despite the government’s continuous efforts to discourage digital asset adoption. According to Chainalysis’ latest research, seen by CryptoPotato, India also led last year’s Crypto Adoption Index. India Leads Crypto Adoption The study ranked global countries based on their...Read More
The approval of spot Bitcoin ETFs in January was one of the biggest moves in crypto this year, with funds generating a surge in demand for BTC. However, eight months after their launch, interest in those products appears to be waning. In a recent post on X, Jim Bianco, the CEO of Bianco Research, stated...Read More
Since March 16, the Salvadoran government’s cold wallet address has consistently purchased 1 BTC daily. In the process, it has accumulated 160 BTC over more than five months. El Salvador’s Government Buys 1 BTC Daily According to the latest data shared by Chinese crypto data account EmberCN, this strategic accumulation has brought the nation’s total...Read More
Tokyo’s Metaplanet investment firm revealed that it has acquired an additional 57.273 BTC, valued at approximately 500 million yen or $3.4 million amidst the current market lull to set the stage for long-term growth. This purchase is part of the strategy announced on August 8, following the firm’s acquisition of a 1 billion yen loan,...Read More
Following the Bitcoin2024 conference, Bitwise CIO Matt Hougan has issued a bold call to crypto investors, urging them to rethink BTC’s potential upside. According to Hougan, the market is “not bullish enough” about the flagship cryptocurrency, and recent developments at the conference have highlighted a shift that could impact Bitcoin’s future value. Political Figures Support...Read More
According to a Bloomberg Report, Russia will soon legalize the use of cryptocurrencies for payments. This move is aimed at easing the growing difficulties faced by companies in making foreign payments due to U.S. sanctions over the war in Ukraine. Details on the New Bill and Legislation On Tuesday, Lawmakers in the State Duma, Russia’s...Read More
In a recent interview with CNBC, WisdomTree CEO Jonathan Steinberg shared his optimistic outlook on the future of Bitcoin and cryptocurrencies, predicting their mainstream adoption within the next few years. Steinberg cited regulatory clarity, the emergence of publicly traded crypto funds, and the tokenization of real-world assets (RWAs) as the main drivers of this trend....Read More
Cantor Fitzgerald announced that it will open a Bitcoin financing business. The business will provide leverage to investors who hold Bitcoin and will launch with $2 billion in initial financing. Bitcoin Financing Business At the Bitcoin Conference 2024, Cantor Fitzgerald CEO and Chairman Howard Lutnick said on stage, “We will build the best platform for...Read More
Bitcoin’s latest uptrend and surge to the $67,000 level have put many investors in the money, with the majority of addresses holding the primary cryptocurrency flashing green. A tweet from IntoTheBlock has revealed that 93% of addresses holding BTC are in profit again. Historical data from the on-chain intelligence platform shows that Bitcoin holders have...Read More
Japanese investment firm Metaplanet has been on an aggressive Bitcoin buying spree. Earlier this week, it announced adding 21.877 BTC to its stash, bringing its total holdings to 225.611 BTC. At the current price, the Tokyo-listed company now holds Bitcoins worth almost $14.8 million. This investment strategy appears to have paid off as Metaplanet experienced...Read More
Blockchain intelligence firm TRM Labs has revealed that cryptocurrency deposits into crypto addresses linked to Chinese drug precursor manufacturers more than doubled in the first four months of 2024 compared to the same period in 2023. In 2023, Chinese precursor networks received over $26 million in cryptocurrency, with 97% of the over 120 manufacturers studied...Read More
Family offices, known for their entrepreneurial spirit, are embracing new investment opportunities. Though cryptocurrencies account for 5% of portfolios, an allocation that would have been unthinkable a decade ago, they remain strikingly split over the role of the asset class. According to the recently published 2024 BNY Mellon Wealth Management Study, approximately 39% of the...Read More
California-based med-tech company Semler Scientific has announced purchasing an additional 247 BTC for an aggregate of $17 million in cash, inclusive of fees and expenses. As of June 6, 2024, Semler holds a total of 828 bitcoins, which were acquired for an aggregate of $57 million, inclusive of fees and expenses. Preps $150M Bitcoin Warchest...Read More
Susquehanna International Group, a quantitative trading firm, revealed its investments in Bitcoin exchange-traded funds (ETFs) during the first quarter of 2024. According to a 13F-HR filing submitted on May 7, the firm disclosed its ownership of more than $1 billion in exchange-traded funds (ETFs). Susquehanna’s Crypto Portfolio The filing, submitted to the Securities and Exchange...Read More
A meme began making its way around crypto Twitter earlier this month, pointing out that Bitcoin now has the number of active users that the Internet had in 1997. But the reality is even more interesting: Bitcoin most likely has far more users today than the Internet had the year Amazon debuted on Wall Street....Read More
Following the Securities and Exchange Commission’s (SEC) approval of the first eleven spot Bitcoin Exchange Traded Funds (ETFs) in the United States last month, Australian retail interest in Bitcoin has experienced a surge. The development has grabbed Australian investors’ attention, with 34% acknowledging awareness of the news. This has increased confidence in Bitcoin, with 25%...Read More
