The CEO of Metaplanet says the US is touching off an international race for BTC reserves. Crypto analysts have dubbed the Japanese venture capital fund the “MicroStrategy of Japan” for its voracious Bitcoin purchases. In an interview at Michael Saylor’s New Year’s Eve Party in Miami on Tuesday, Gerovich said Japan would be sure to...Read More
The Swiss Federal Chancellery registered a new initiative on December 31, proposing that the Swiss National Bank hold Bitcoin as part of its reserves, potentially setting the stage for a public referendum. The initiative, spearheaded by a group of 10 Bitcoin advocates, including Giw Zanganeh, who happens to be Tether’s vice president of energy and...Read More
Hong Kong may soon join the list of countries leveraging bitcoin (BTC) as a store of value and a hedge against inflation by establishing the cryptocurrency as a fiscal reserve asset. According to a report from local media, Wen Wei Po, Wu Jiexhuang, a member of the Hong Kong legislative council, has proposed incorporating BTC...Read More
The world’s biggest corporate holder of bitcoin continues with its accumulation phase by allocating another $209 million to purchase 2,136 BTC. With this eight consecutive Monday purchase, the company’s stash has skyrocketed to over 446,000 BTC. MicroStrategy has acquired 2,138 BTC for ~$209 million at ~$97,837 per bitcoin and has achieved BTC Yield of 47.8%...Read More
The incoming second Donald Trump administration has extensive plans to cement US leadership in developing blockchain cryptocurrencies and delivering their products to markets. Meanwhile, Russia is using Bitcoin to conduct commerce outside the traditional finance channels in the face of international sanctions. While these developments certainly bear strategic adversarial overtones, the way Bitcoin changes the...Read More
The prominent crypto exchange-traded fund (ETF) issuer has proposed a new product called the Bitcoin Standard Corporations ETF, which aims to invest in publicly traded companies that adhere to a “Bitcoin standard,” holding at least 1,000 BTC in their corporate treasuries. The ETF will focus on firms with a market capitalization of at least $100...Read More
The ongoing political turmoil in South Korea has had a ripple effect on the country’s financial market. The South Korean won has dropped to its lowest value against the United States dollar since March 2009. This devaluation is reflected in the Bitcoin Kimchi Premium, a metric showing the gap between BTC’s price in South Korea...Read More
KULR Technology Group has become the latest company to adopt a Bitcoin treasury strategy, announcing the acquisition of 217.18 Bitcoin (BTC) for approximately $21 million. In a December 26 post shared on X, the firm revealed the purchase was made at an average price of $96,556.53 per BTC. KULR’s Bitcoin Treasury Strategy An accompanying press...Read More
Strive Asset Management, led by billionaire entrepreneur Vivek Ramaswamy, has filed a request with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) focused on Bitcoin-linked convertible bonds. The proposed Strive Bitcoin Bond ETF is designed to offer exposure to bonds issued by corporations that use the proceeds to purchase Bitcoin...Read More
Bitcoin is becoming a critical asset in geopolitics, with several countries competing to build national reserves which will potentially reshape their financial sovereignty. While the global push for Bitcoin grows, skeptics are becoming advocates, Japan remains hesitant to join the trend. Japan Cautious About Bitcoin Reserves According to a report by local news outlet CoinJP,...Read More
Russian Finance Minister Anton Siluanov revealed on Wednesday that domestic firms are now utilizing Bitcoin and other digital assets for international payments, which is enabled by recent legislative adjustments designed to offset Western sanctions. It is important to note that these sanctions have posed challenges to Russia’s trade with significant partners such as China and...Read More
While major institutions worldwide are gradually embracing Bitcoin, recognizing its potential as a transformative asset and even integrating it into their corporate treasuries, the perception of the cryptocurrency remains far from universally positive. Amid this growing institutional adoption, the Bank of Italy has taken a notably critical stance. In its Economic and Financial Occasional Paper,...Read More
Thailand is considering a potential Bitcoin pilot project, proposed by former premier Thaksin Shinawatra, to be tested in Phuket as a tourism-focused sandbox. The proposal has received support from the Binance Thailand CEO, who sees it as a positive step for the country’s competitiveness and ability to attract tech-savvy visitors. However, despite efforts from industry...Read More
The cryptocurrency market has been on a rollercoaster, especially in the last couple of months, with Bitcoin rallying 128% year-on-year as of Christmas Day. However, despite the bullish trends, the impressive performance hasn’t translated into gains for publicly listed Bitcoin mining companies, with many of their stocks showing significant declines. Mining Stocks Falter Despite Market...Read More
The economy is chugging along nicely, with real GDP rising in the third quarter over the second quarter of 2024. That’s according to data from the US Bureau of Economic Analysis. Kiyosaki warned on Sunday, however, that the economy could plunge into a depression next year. “Global crash has started. Europe, China. USA going down....Read More
In a very genial nod to Bitcoin, Cramer asked about the new administration’s plans for crypto and, in his question, drew a comparison to the U.S. strategic petroleum reserve. Will the White House push for something like that? “Yeah, I think so,” Trump answered. But the rest of his answer really showed an understanding of...Read More
Institutional investors now account for 31% of all known Bitcoin (BTC) holders, reflecting a sharp increase from 14% in 2023. The uptick has been largely driven by spot Bitcoin exchange-traded funds (ETFs), government acquisitions, and MicroStrategy’s ramping up of its BTC strategy, which has seen its stash grow to over 440,000 BTC. ETFs, MicroStrategy, Drive...Read More
Ever since the BTC price triggered a massive breakout to the ATH, the markets have become highly optimistic about the next price action. The upper targets were elevated beyond $110K to $115K ahead of the yearly close. However, the rally is experiencing a major hindrance, primarily because of the bulls’ weakness instead of an increase...Read More
BTC prices are currently down 12% from their all-time high of just above $108,000 on Dec. 17, and the correction appears to be deepening. The asset hit an intraday low of $93,810 during trading in Asia on Monday morning but recovered quickly to tap $96,000 before another slip. Those losses have resulted in a “bearish...Read More
With the crypto market halfway through this bull cycle, the amount of bitcoin readily available for sale is shrinking faster relative to demand growth. On-chain analysis by the market intelligence firm CryptoQuant revealed that the bitcoin market is currently experiencing a demand shock because demand growth is accelerating and supply is shrinking. According to a...Read More
Shanghai-based car dealership Cango Inc. has pivoted to Bitcoin (BTC) mining, announcing a $256 million acquisition of 32 exahashes per second (EH/s) in hashrate from Bitmain Technologies. In November, the company extracted 363 BTC, worth about $36 million, without liquidating any assets, positioning it as one of the top players in the global Bitcoin mining...Read More
The crypto industry grew remarkably in 2024 amid rising coin prices, but the same cannot be said for on-chain users across most relevant chains. A 2024 on-chain user report by the blockchain growth platform Flipside revealed a need for networks to offer quantity and quality on-chain activity to attract users and turn them into high-value...Read More
Metaplanet Inc. plans to issue ¥5.0 billion ($31.9 million) in ordinary bonds to accelerate its Bitcoin buys. The company announced this in a December 20 post on X, adding that the repayment will be made from exercising its 12th series stock acquisition rights. Details of the 5th Series Ordinary Bonds In a separate post, Metaplanet...Read More
Craig Wright, who has repeatedly and falsely claimed to be Bitcoin’s pseudonymous creator, Satoshi Nakamoto, was handed a one-year suspended sentence in the United Kingdom for five counts of contempt of court. The computer scientist was also fined £145,000, approximately $180,000 for his actions. Wright Breached Court Order During a December 19 hearing, Judge James...Read More
The overall cryptocurrency market experienced a significant price decline, resulting in billions of dollars worth of crypto liquidations. This market crash began shortly after Jerome Powell’s anti-crypto stance following the Fed rate cut and the recent transfer of $100 million worth of Bitcoin (BTC) by the defunct cryptocurrency exchange Mt. Gox. Mt Gox $100M BTC...Read More
Cryptocurrency enthusiasts are turning to meme coins over traditional assets like Bitcoin (BTC) and Binance Coin (BNB), according to the latest study conducted by Binance. The findings, released on December 18 as part of the Binance Global User Survey, sampled over 27,000 customers across Asia, Australia, Europe, Africa, and Latin America. Meme Coins Outpace Bitcoin...Read More
Japanese-listed company Metaplanet announced on December 18 that it will formally run Bitcoin Treasury Operations as a new business line. This move, approved by the firm’s board of directors, is part of its broader strategy to integrate Bitcoin into its financial framework. Details of the New Venture The announcement, shared in a post on X,...Read More
Bitcoin L2 Labs, the development firm behind Bitcoin layer-2 Stacks, has announced the mainnet release of sBTC, Stacks’ programmable 1:1 BTC-backed asset. sBTC allows the decentralized movement of BTC in and out of Bitcoin layers. With sBTC, investors can access decentralized finance (DeFi) applications while maintaining Bitcoin’s core security principles. Its mainnet release follows the...Read More
A person who bought Bitcoin at the start of this year may have seen a growth of at least 152.1% in its value. It’s impressive, isn’t it? Recently, Bitcoin achieved a crucial milestone of $100K. Currently, the market shows an extremely bullish outlook. Reports indicate that long-term investors are highly enthusiastic about the achievements the...Read More
Chinese fabless integrated circuit design company Nano Labs has announced the successful closing of a $36.25 million private placement. The transaction, which was first disclosed in November, involved the issuance of 5,611,459 Class A ordinary shares at a purchase price of $6.46 per share. The shares were priced at $6.46 each, and the transaction was...Read More
