(Bloomberg) -- MicroStrategy Inc., the enterprise software maker which has made buying Bitcoin as part of its corporate strategy, increased its total holdings of the cryptocurrency to more than $8 billion through additional purchases this month. Most Read from Bloomberg The Late-Night Email to Tim Cook That Set the Apple Watch Saga in Motion Chinese Carmaker...
As of Dec 27, the price of bitcoin (BTC) has gained 155.2% year to date after collapsing in November 2022 following the fall of FTX, the exchange founded by Sam Bankman-Fried. Ethereum (ETH) is up 86.1% in the same period. The crypto recovery in 2023 has been led by the possibility that the Securities and...
Net outflows from exchanges are often taken to represent investors' intention to hold coins for long-term. Onchain activity continues to support the bullish case in bitcoin. On Wednesday, just over 28,000 BTC worth $1.19 billion left centralized exchanges, the largest single-day outflow in BTC terms since Dec. 14, 2022, according to data tracked by blockchain analytics firm Glassnode. Net outflows...
Bitcoin (BTC) is expected to correct to as low as $32,000 next month following the potential approval of a spot ETF, according to data provider CryptoQuant. In what is being described as a potential "sell the news" event, CryptoQuant said in a note to CoinDesk that trader's unrealized profits are currently lingering at a level that historically...
Argentina’s government will offer a flexible tax rate and legitimize the usage of cryptocurrency assets within the country, irrespective of location or origin. President of Argentina Javier Milei proposed the bill as part of a broader set of economic and political reforms. The crypto community has responded positively to Milei’s election in November, given his endorsement of Bitcoin...
Value Partners, a Hong Kong-listed company, is set on issuing blockchain tokens backed by physical gold and filing applications for crypto-related ETFs. According to local media Hong Kong Commercial Daily, the firm plans to tokenize its three tons of gold bars worth an estimated $201 million at current prices. Value Partners already offers the only Hong Kong gold ETF...
Redditors appear to have an enthusiastic view toward cryptocurrencies, as 84% of discussions in 2023 were positive. According to CoinWire, which analyzed over 20,400 posts on Reddit over the last 12 months, the majority of discussions on the platform “were full of positivity,” suggesting investors are anticipating a rally in the foreseeable future. As noted by the firm, enthusiastic community...
The crypto market has started consolidating in the week between Christmas and New Years Day, after registering significant growth over the past month. According to data provided by CoinGecko, the leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), have historically witnessed sideways movements with less bearish momentum at the start of the holidays in 2021 and 2022. The...
Binance founder and former CEO Changpeng Zhao saw his net worth grow by a whopping $25 billion in 2023 despite market challenges and Binance’s regulatory troubles. This year came with its unique challenges and market volatility. However, amid the issues, the market leveraged an opportunity to recover from the losses of the previous year triggered by...
Michael Saylor’s MicroStrategy now holds some 189,150 Bitcoin worth over $8 billion as of Dec. 27. MicroStrategy bought an additional 14,620 Bitcoin (BTC) at an average price of $42,110 per coin, according to Michael Saylor, who founded the company back in 1989. Saylor’s firm spent $615.7 million acquiring its latest BTC purchase. The company started buying BTC in 2020...
