Regardless of its volatility, and the criticism from prominent regulators, Bitcoin has garnered attention from the likes of Elon Musk and other mainstream influencers in the past few weeks. In the words of Marshall Hayner, CEO of Metal Pay, Bitcoin is on its “fourth wave” of adoption. The chief exec believed that the asset reached...Read More
Under the leadership of CEO Michael Saylor, MicroStrategy, which is a leading Bitcoin investor has been lauded for driving mainstream BTC adoption. It appears that the firm has been navigating Bitcoin markets using its own strategies. Almost every time Bitcoin dipped in price, the firm took advantage of market conditions and increased the value of...Read More
Over the past couple of months, there has been a lot of discussion around how the Bitcoin rally is currently being driven by whale traders and institutions. The inclusion of long-term hodlers also comes into the picture, but from the perspective of long-term growth, widespread adoption remains vital. Amidst the current rally, keeping track of...Read More
MicroStrategy has been buying consistently throughout Bitcoin’s journey to $40,000 and beyond. What’s different this time, however, is that as of 31 January, cumulative treasury holdings captured a total of 5.85 percent of Bitcoin’s supply. So, how will this influence the current market cycle and the next? Source: Ecoinometrics Before adding Bitcoin to its balance...Read More
Over the past year, institutional investment is what many believe drove Bitcoin’s price to reach new ATHs. Moreover, new research found that the asset’s price surges seem to be driven less by hype and have instead gained more trust, based on data from 2017. Among its many conclusions, ARK Invest stated in its “Bitcoin: Preparing...Read More
Indecisiveness is the current market sentiment for Bitcoin. While some metrics indicate that a 2nd bullish rally might be incoming, other factors are suggestive of further corrections. With Bitcoin continuing to consolidate in the mid-$30k range, the reset of certain metrics and accumulation activity might project a potential change in the crypto’s price. Grayscale is...Read More
Most discussions on the subject of Bitcoin’s institutional involvement always hint at the common objective of these institutions. These organizations are clubbed together under one idea, that they believe in the assets, and they want to attain exposure into crypto through Bitcoin. It is not a false narrative, but over the past few months, most...Read More
Bitcoin’s second attempt at making it past $40,000 failed last week, with all eyes now on the cryptocurrency’s next big move. Interestingly, while BTC was trading at $34,855 at press time, outflows from spot exchanges were up too. In fact, 15,000 BTCs have flown out of Coinbase at the $32,400-price level. Such significant Bitcoin outflows...Read More
A month after crypto fund manager Bitwise surpassed $500 million in assets under management (AUM), the asset manager now filed for regulatory approval to list its Bitcoin fund on OTC markets. If the fund gets the green light, it plans to offer Bitcoin exposure to investors at lower-cost with an expense ratio that is 0.50%...Read More
Dealing with market volatility is common in the case of Bitcoin and the current narrative is heading in a similar direction. While the market is still in a considerably bullish bracket, the likelihood of a reversal keeps floating about in the space. Now, according to recent data, a major change may be afoot, one that...Read More
Business intelligence firm MicroStrategy acquired additional Bitcoin worth about $10 million in cash on 2 February. The company made the purchase at an average price of approximately $33,810 per Bitcoin. The development follows MicroStrategy’s earlier purchase made on 22 January 2021. According to its last announcement, MicroStrategy acquired $10 million worth of Bitcoin, paying roughly $31,808...Read More
Grayscale has been at the head of a lot of Bitcoin-related developments over the past few months. It is in the news again today after its GBTC premium turned negative for the first time after its launch in 2013. The aforementioned premium represents an “overpayment” on behalf of mostly institutional buyers that seek Bitcoin exposure,...Read More
The upcoming Bitcoin Educational Conference organized by Michael Saylor’s MicroStrategy has seen massive interest from CEOs and other executives. Saylor informed that all attendees would benefit from MicroStrategy’s playbook on how to utilize the BTC Monetary Network. CEOs Interested In MicroStrategy’s BTC Educational Campaign CryptoPotato reported in mid-January MicroStrategy’s latest pro-Bitcoin initiative, which aims to...Read More
According to the United States Department of Justice (DoJ), a man from Ontario, California, has agreed to plead guilty to federal charges of illegally operating a crypto exchange. On 29 January, the DoJ release stated that the accused, 49-year-old Hugo Sergio Mejia was also pleading guilty to money laundering offenses in United States District Court....Read More
Gold and Bitcoin supporters are likely to keep arguing with each other as both gold advocates and Bitcoin maximalist stick to their own school of thought. Recently, MicroStrategy CEO, Michael Saylor predicted that in the future, investors are more likely to opt for Bitcoin over the yellow metal. In an interview with Andrew Henderson of Nomad...Read More
Cryptocurrencies ranging from Bitcoin to joke, token Doge, have seen much mainstream support in the past week. After Elon Musk said “he was a supporter of Bitcoin” and OnlyFans star Mia Khalifa bought Doge, another new celebrity has shown support for the coins. This time it was Gene Simmons, from the rock and roll band...Read More
“The store of value generation” is what entrepreneur Mark Cuban termed young crypto investors as. In a blog explaining this narrative, the billionaire today seemed to caution older generations and Wall Street stalwarts. He stated why the idea “that a crypto asset could be a store of value” is not “crazy.” Old Schoolers say that...Read More
Unlike the 2017-rally, Bitcoin currently indicates strong fundamentals. The growth has been such, over the course of 2020 and the beginning of 2021, that the digital asset has experienced massive capital injection. It is difficult to identify the source at times, as both retail and institutional investments come in a flurry. However, the growth of...Read More
Just a few days ago we saw Elon Musk, the CEO of Tesla add Bitcoin to his Twitter profile, which caused a sudden pump in the value of the digital asset. As the market stabilizes from the surge, Musk has extended his support to Bitcoin and stated that it was on the verge of acceptance...Read More
Just a few days after shocking the world by updating his Twitter bio to include only “Bitcoin,” Tesla’s Elon Musk has doubled-down on his support on the cryptocurrency. During a recent speech, Musk said that BTC is on the brink of a broader adoption from traditional financial representatives. According to a Reuters report, Musk showed...Read More
Faced with growing currency devaluation, institutions are adopting bitcoin as a store of value. Bridgewater Associates’ founder, Ray Dalio, has set aside his skepticism for bitcoin to explore this possibility. Dalio Applauds Bitcoin In a recent newsletter, he expressed his admiration for Bitcoin, stating that its longevity is “an amazing accomplishment.” “To have invented a...Read More
Apart from the on-chain factors that drive Bitcoin’s bull run, a few external indicators that precede every bull run have made the headlines yet again such as a bill on a probable cryptocurrency ban in India, the Chinese new year FUD, exchange outages like Coinbase and Binance, and altcoin price rallies, etc. Once the sell-off...Read More
Bitcoin is currently trading at $33831 after a highly volatile and eventful week. Before the weekend, Elon Musk’s tweet led to a massive surge in price, bringing it closer to $40000 level. However, there is consistent resistance and the price dropped to $33000 before it would hit the ATH. There were several metrics hinting at...Read More
After the market frenzy observed a couple of days back, the Bitcoin market has been preparing for another rally. This bullish sentiment was rising in the market, as the stablecoins in the exchanges hit an all-time high. According to the data provider CryptoQuant, the stablecoin holdings on exchanges have reached a peak of $4.98 billion...Read More
A lot happened over the past week, as Bitcoin experienced one of its most volatile periods in terms of price and futures trading. While there weren’t any major dips or rallies, the constant change of sentiment may have tested the trader’s resolve and a particular incident reminded the crowd about Bitcoin’s reactive nature. 22nd-29th January:...Read More
Popular blockchain company, Blockstream has purchased $25 million worth of MicroBT’s WhatsMiner M30s Bitcoin mining hardware. Blockstream stated in an announcement that it plans to deploy the hardware across its various mining facilities located in the United States and Canada. A Top Secret Mining Facility Furthermore, Blockstream disclosed that it would allocate some of the...Read More
After announcing its plans to go public in December 2020, Coinbase released a statement on January 28th about its intent to propose a direct listing instead of a traditional IPO at the end of the year. The cryptocurrency exchange had already filed its registration documents with the SEC but the direction wasn’t specified until now....Read More
The consolidating Bitcoin market was shaken out with one mention from Elon Musk on Friday. However, shortly after the 20% appreciation, the price turned around and fell almost to the pre-pump level. Despite the wild market movement, the on-chain metrics of BTC held strong. The Bitcoin network has been active and processing the second-largest transaction...Read More
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice The value of Bitcoin has been moving along its current support levels and trying to consolidate around $33k. The sudden pumping of its price against all predictions has provided BTC another chance to test...Read More
Bitcoin’s price rallied to $37900 and as momentum built up, the asset was ready to cross $40000 with a 17.8% increase in a single day. However, a sell-off led to a price drop to $33000 level. As Bitcoin rallied there were metrics that offered buying opportunities and shorting opportunities throughout the rally, on the way...Read More
