Bitcoin Magazine

16 Aug 2024 09:04

JUST IN: 💰 Financial Post says that institutional demand is continuing to grow for spot #Bitcoin ETFs 🚀

🤝 @Cryptocurrency_Inside ✅

Bitcoin Magazine

13 Aug 2024 15:58

🗣️ Co-founder of BitMEX, Arthur Hayes, believes that for an altcoin season to begin, Bitcoin must surpass $70,000 and Ethereum $4,000.

He also predicts that if these levels are reached, Solana could rally to $250 during the next altcoin season.

What’s your prediction for Solana’s price?

🌚 - $180
❤️ - $250
⚡️ - $350
🐳 - $500

🤝 @Cryptocurrency_Inside ✅

Bitcoin Magazine

01 Aug 2024 06:44

💰 Fidelity launches competitive Bitcoin ETP on London Stock Exchange

Fidelity International has launched the Fidelity Physical Bitcoin ETP on the London Stock Exchange for professional investors, according to a July 31 press release. The launch comes as Bitcoin investment products are multiplying worldwide following the record-setting success of US-based spot Bitcoin exchange-traded funds (ETFs) launched in January.

Source

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Bitcoin Magazine

30 Jul 2024 06:35

💰 Bitcoin dips to $66K as US moves $2 billion in seized BTC to unidentified wallets

Bitcoin experienced a sharp decline to roughly $66,300 on July 29 after the US government transferred $2 billion worth of seized bitcoin (BTC) tied to the Silk Road marketplace. Arkham Intelligence revealed that a US government-owned wallet transferred 29,800 BTC to an unidentified address with no prior transaction history on July 29.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

28 Jul 2024 08:44

💰 Cantor Fitzgerald CEO announces $2B Bitcoin financing business, defends Tether at Bitcoin 2024

Cantor Fitzgerald CEO and Chairman Howard Lutnick announced on stage at Bitcoin 2024 that the global services firm plans to establish a Bitcoin financing business with $2 billion of initial financing to provide leverage to investors who hold the digital asset. "We are going to welcome Bitcoin into the financing family of the global financial markets and Cantor Fitzgerald is going to be your sponsor," Lutnick announced.

Source

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Bitcoin Magazine

27 Jul 2024 09:55

💰 Marathon Digital’s CEO hints at potential Bitcoin buys through convertible notes

Bitcoin miner Marathon Digital CEO Fred Thiel suggested that the firm could raise capital through convertible bonds to purchase more of the flagship digital asset in the future. This follows the firm’s recent purchase of $100 million worth of Bitcoin, raising its total holdings to over 20,000 BTC. This statement aligns with the firm’s promise to make periodic strategic acquisitions of the top crypto and adopt a full HODL strategy.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

25 Jul 2024 09:29

💰 Lummis to propose Fed adopt Bitcoin as reserve asset at Nashville conference

Wyoming Senator Cynthia Lummis known for her pro-crypto stance, plans to propose that the Federal Reserve hold Bitcoin as a strategic reserve asset, akin to gold and foreign currencies, Fox News reported on July 24. The Republican senator, known for her pro-crypto stance, plans to propose that the Federal Reserve hold Bitcoin as a strategic reserve asset, akin to gold and foreign currencies. Sources told Fox that Lummis hopes former President Donald Trump will endorse the bill, lending significant weight to her proposal.

Source

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Bitcoin Magazine

23 Jul 2024 14:20

🇺🇸 ETHEREUM ETFs TO START TRADING TODAY

🤝 @Cryptocurrency_Inside ✅

Bitcoin Magazine

22 Jul 2024 07:35

💰 Buying Bitcoin Paid Off for Metaplanet as Shares Jump Over 800% YTD

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 an incredible surge in its shares this year, with a major boost recorded in May after the company announced tapping Bitcoin.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

20 Jul 2024 07:44

💰 Bitcoin's recent price gains may be limited by rising exchange sell orders: Coinbase

Bitcoin’s market depth on Coinbase has recently shown a greater imbalance between bids and asks, with a higher number of bids. According to Coinbase analysts David Duong and David Han, this increase in total bitcoin sell orders is particularly concentrated within 5% to 10% of the mid-price on the exchange, which is limiting a greater price upswing. "Mt. Gox repayments remain a source of pressure, following the distribution of around 50,000 bitcoin to exchanges since July 5, leaving the trustee with a balance of 90,300 bitcoin," they said.

Source

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Bitcoin Magazine

18 Jul 2024 06:59

💰 Short-term holders recover gains as 87% of Bitcoin’s supply now in profit

Bitcoin's meteoric rise to $64,000 has turned the market green, reversing weeks of bearish performance. This uptick, triggered by shocking news, has significantly boosted short-term holder (STH) profitability metrics. For instance, the percentage of Bitcoin's supply in profit soared dramatically and STH-related ratios like NUPL have finally turned positive.

Source

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Bitcoin Magazine

16 Jul 2024 21:49

💰 Bitcoin buy propels Metaplanet stock up 10%, total holdings now 225 BTC

Japan-based Metaplanet said it has acquired additional Bitcoin, according to a July 16 statement. Metaplanet furthered that this acquisition aligns with its prior announcement of plans to invest ¥1 billion in Bitcoin as part of its ongoing strategy to adopt the top crypto as a treasury reserve asset. Last month, it set up a subsidiary, Metaplanet Capital Limited, in the British Virgin Islands to enhance its Bitcoin management and expand into new regions.

Source

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Bitcoin Magazine

15 Jul 2024 18:54

💰 Bitcoin futures volume peaks in March, declines in sync with price drop

Bitcoin futures volume on major exchanges shows varied trends throughout 2024. The Glassnode charts illustrate a significant shift in futures trading activity. From the start of the year, the volume fluctuated, peaking in early March with almost 1.2 million BTC traded daily. This peak coincided with Bitcoin’s price reaching over $70,000, suggesting a strong correlation between trading volume and price movements at the time.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

14 Jul 2024 06:30

💰 Inflow Streak Pushes US Bitcoin ETFs Near $16B Mark

On Friday, the U.S. spot bitcoin ETFs experienced a strong trading day with a total volume of $1.15 billion. The funds collectively secured $310.21 million, with two ETFs capturing the majority of the inflows, according to sosovalue.xyz metrics. Blackrock’s IBIT secured $120.03 million on Friday, bringing its BTC reserves to 314,204.30 BTC. Fidelity’s FBTC was the second largest recipient, garnering $115.14 million, sosovalue.xyz and coinglass.com stats indicate.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

13 Jul 2024 06:35

🇩🇪 German Government Is Now out of 💰 Bitcoin, Arkham Data Shows

The German government has sold its entire bitcoin holdings, according to data from crypto intelligence firm Arkham. “The German government is now out of bitcoin,” the firm wrote. This divestment began in June, with funds transferred to exchanges and institutional services.

Source

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Bitcoin Magazine

13 Aug 2024 21:52

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Bitcoin Magazine

02 Aug 2024 09:49

💰 MicroStrategy raises holdings to 226,500 bitcoin, introduces BTC yield metric

MicroStrategy said Thursday that since the beginning of the second quarter, it had acquired 12,222 bitcoin for $805.2 million and introduced a new key performance indicator for its bitcoin strategy. Its total bitcoin holdings, 226,500, came at a cost of $8.3 billion, or $36,821 per bitcoin, as of July 31. The company said its "BTC yield" stands at 12.2% in the year-to-date period, and it will target 4% to 8% annually over each of the next three years.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

31 Jul 2024 06:30

💰 Goldman Sachs CEO says Bitcoin can potentially serve as store of value akin to gold

Goldman Sachs CEO David Solomon said Bitcoin could “very well” serve as a store of value akin to gold but reiterated his cautious stance toward the flagship crypto. However, he acknowledged its potential store of value case and said the underlying blockchain technology is “super interesting.” He added that the technology itself can help digitize the financial system and “remove a lot of the friction.”

Source

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Bitcoin Magazine

29 Jul 2024 07:29

💰 Vaneck Predicts Bitcoin Could Reach $2.9 Million by 2050

Asset management firm Vaneck released a report projecting bitcoin could reach $2.9 million per coin by 2050, becoming a global medium of exchange and reserve currency. The report suggests bitcoin could settle 10% of global international trade and 5% of domestic trade, with central banks holding 2.5% of their assets in BTC. Scalability challenges are noted, but Layer-2 solutions may enhance adoption.

Source

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Bitcoin Magazine

27 Jul 2024 16:28

🇺🇸 Donald Trump says, “Tomorrow I’m going to be with the #Bitcoin people” for his plans to attend the conference today

🤝 @Cryptocurrency_Inside ✅

Bitcoin Magazine

26 Jul 2024 07:34

💰 Jersey City pension fund amends regulatory documents to include Bitcoin ETF exposure

Jersey City Mayor Steven Fulop has announced plans to invest a portion of the city’s pension fund in Bitcoin exchange-traded funds (ETFs), highlighting a significant step toward integrating crypto into municipal financial strategies. In a social media post on July 25, Fulop shared that the Jersey City pension fund is updating its documentation with the US Securities and Exchange Commission (SEC) to include Bitcoin ETFs. Jersey City is the second largest city in the state of New Jersey.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

24 Jul 2024 07:30

💰 BlackRock Bitcoin ETF surpasses Invesco QQQ Nasdaq fund in 2024 inflows

The recent performance of the iShares Bitcoin Trust (IBIT) has surpassed the Invesco QQQ Trust Series 1 (QQQ) in year-to-date net flows despite a significant difference in total assets. Spencer Hakimian, Founder of Tolou Capital Management, shared data showing how IBIT has attracted $18,968.31 million in YTD flows, compared to QQQ’s $18,899.72 million. This is despite IBIT’s total assets of $21,969.13 million being dwarfed by QQQ’s $287,224.16 million.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

23 Jul 2024 06:35

💰 Bitcoin miner HIVE Digital to build 100 MW crypto mining facility in Paraguay

The bitcoin mining firm HIVE Digital Technologies announced plans to build a new 100-megawatt (MW) crypto mining facility in Paraguay. "This potential opportunity is expected to add up to an additional 6.5 Exahash per second (EH/s) to our Bitcoin mining operations, increasing our global EH/s to 12.1 EH/s," the firm's executive chairman Frank Holmes said in a release. "This represents a significant milestone in our diversified growth strategy and supports our commitment to expanding our global footprint with data center operations in Canada, Sweden, Iceland and now Paraguay."

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

21 Jul 2024 08:54

💰 Veteran Trader Peter Brandt Identifies Bitcoin's Down Channel Pattern

Veteran trader Peter Brandt has emphasized that the current bitcoin price pattern “appears as a down channel.” Brandt’s recent analysis also indicates a potentially significant long-term upside for bitcoin, contrasting with gold advocate Peter Schiff’s bearish stance on the cryptocurrency.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

19 Jul 2024 10:29

💰 Exchange Bitcoin balances rise by $4.1 billion in last 30 days

Bitcoin, currently valued at $64,900, has experienced significant movements in exchange balances over recent months, surging by 64,000 BTC, roughly $4.1 billion, in the last 30 days, according to Glassnode data. This follows a period of marked decline in exchange-held Bitcoin that began in early 2024 after the launch of the spot Bitcoin ETFs in the US and intensified post-halving in April 2024.

Source

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Bitcoin Magazine

17 Jul 2024 17:00

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Bitcoin Magazine

16 Jul 2024 06:29

💰 BlackRock CEO reiterates Bitcoin is ‘digital gold’ and a hedge against economic uncertainty

BlackRock CEO Larry Fink reaffirmed his supportive stance on Bitcoin, describing it as “digital gold” and emphasizing its potential as a key asset in diversified investment portfolios. Fink made the statement during a July 15 CNBC interview. His latest endorsement comes on the heels of BlackRock’s robust second-quarter earnings, which surpassed analysts’ expectations. The firm has reported record results for the first half of the year.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

14 Jul 2024 18:05

💰 Institutional Liquidity Providers and OTC Desks Absorbed 88% of Germany’s Bitcoin Sales

Institutional liquidity providers, market makers, and over-the-counter (OTC) trading desks, regardless of the term you choose, have taken in most of Germany’s bitcoin since sales began in June 2024. Data reveals that only a small amount of BTC was moved to centralized crypto exchanges like Coinbase, Kraken, and Bitstamp.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

13 Jul 2024 21:00

💰 Germany runs out of Bitcoin after 23 days of selling

The German government has completely divested its Bitcoin holdings after 23 days of sales, concluding the process it began in late June, according to Arkham Intelligence data. Arkham said the German government transferred the last batch of 3,846.05 BTC — valued at roughly $223.81 million — to Flow Traders and 139Po, which are likely institutional deposit or over-the-counter (OTC) services.

Source

/channel/Bitcoin_Magazine

Bitcoin Magazine

12 Jul 2024 20:21

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