The analyst’s predictions come shortly after Bitcoin staged the best weekly return since the 2023 US banking crisis.
A recent survey shows institutional investors’ growing confidence in crypto, with many planning increased long-term allocations.
Markets are bracing for post-election volatility, which may take Bitcoin as high as $100,000 before 2025.
A Republican-led Senate is poised to pass clearer crypto regulations, signaling a shift toward industry-friendly policies in the US.
Back was an early Bitcoin developer and the first person to receive an email from pseudonymous Bitcoin creator Satoshi Nakamoto.
Eastern Europe has become the fourth-largest cryptocurrency market in the world, accounting for over 11% of the total crypto value received worldwide.
In just 16 years, Bitcoin has grown to become the world’s 10th largest asset and the best currency for “financial freedom,” according to Tether CEO, Paolo Ardoino.
The partnership could enhance the “financial utility of Bitcoin for our institutional clients,” wrote Calvin Shen, the chief commercial officer at Hex Trust.
Bhutan holds another $886 million worth of Bitcoin, which could introduce more selling pressure, as the country has been mining and holding Bitcoin for over five years.
It’s the first United States university endowment to report holding Bitcoin ETFs, according to Bloomberg.
Cointelegraph spoke with Riot Platforms’ Pierre Rochard and Metaplanet’s Dylan LeClaire at the Bitcoin Amsterdam 2024 conference.
Bitwise Chief Investment Officer Matt Hougan has recently highlighted a growing trend of top financial advisors “allocating to cryptocurrency” in their portfolios. Speaking at the Barron’s Advisor 100 Summit in Palm Beach, Florida, Hougan shared insights on how some of the “most powerful people” in the financial industry are beginning to embrace digital assets like […]
According to a TIME Magazine correspondent, El Salvador President Nayib Bukele used Bitcoin to “change the narrative” on the country’s international perception.
Crypto exchange Swyftx estimates anywhere from two to six million Australians could enter the market if regulated.
Bianco Research CEO Jim Bianco says the next Bitcoin halving in 2028 and significant development of on-chain tools are needed for wider ETF adoption.
In a recent interview with TIME, Nayib Bukele, El Salvador’s pro-Bitcoin president, assessed the impact of his plan to position the country as a hub for the largest cryptocurrency on the market. While he acknowledged that adoption has not met expectations, he emphasized that the overall results have been “net positive.” Bitcoin In El Salvador […]
The Salvadoran president seemed to embrace the ”authoritarian” label while admitting that the country had not seen as many benefits from Bitcoin as he anticipated.
On-chain data shows the Bitcoin network is finally witnessing a major influx of new users after hitting multi-year lows in adoption earlier in the year. Bitcoin New Addresses Has Reversed Trend Since June Bottom According to data from the market intelligence platform IntoTheBlock, Bitcoin has been seeing growth in daily new addresses recently. A “new […]
The author and Bitcoin advocate's panel was sobering, harkening back to the Bitcoin community's, anti-establishment ethos.
The new Bitcoin grants program could invite more innovation for Bitcoin-native DeFi, or BTCFi.
Hybrid, non-custodial exchanges could help restore industry trust in crypto but CEXs remain key for onboarding new users.
The market intelligence platform IntoTheBlock has discussed the bearish situation Bitcoin has been facing that has got many puzzled. Bitcoin Adoption Has Slowed Down To Multi-Year Lows Recently Bitcoin had a great first quarter in 2024, fueled by demand from the spot exchange-traded funds (ETFs) and institutional entities. During this run, the asset surpassed the all-time high (ATH) set back in the previous bull run, breaking a pattern in other cycles where ATHs were only reached after the Halving. Related Reading: Dogecoin, Cardano “Very Bullish” Based On MVRV: Santiment With the huge demand, things looked to be just getting started for the asset, but in the months since the ATH, the cryptocurrency has only been consolidating sideways. In a new post on X, IntoTheBlock talks about the current situation with Bitcoin, which many have been wondering about. The analytics firm has pointed out that the transfer activity on the BTC network has been high recently, as the Number of Transactions metric has set a new record. The most recent spike in the Number of Transactions on the Bitcoin blockchain has resulted from the emergence of the new Runes protocol, which allows users to mint fungible tokens on the network efficiently. “Institutional whales are present, and activity on the Bitcoin network is high,” says the analytics firm. “So, where’s the confusion?” The answer to that question lies in the trend of the New Addresses indicator. As its name suggests, this metric keeps track of the total number of new addresses that are popping up on the network daily. This indicator tells us about the rate of adoption the cryptocurrency is observing. Below is a chart showing how this Bitcoin metric’s value has changed over the past decade. The graph shows that the Bitcoin New Addresses has declined while the price has risen to its new high. As IntoTheBlock notes: The data reveals that this surge in usage and whale activity does not involve a significant influx of new participants. In fact, the number of new Bitcoin users has plummeted to a multi-year low, even falling below the levels seen during the 2018 bear market. Related Reading: Hard To Be “Too Scared Of Bitcoin Price Action,” Says Analyst. Here’s Why Historically, bull markets have accompanied sharp asset adoption as new investors get attracted by all the hype. In return, this influx of holders has helped fuel the rally. It would appear that despite the asset reaching a new ATH, the network has failed to attract new users. This is what has got many puzzled. The slowdown could, at least in part, be why Bitcoin has failed to continue its bullish momentum. It now remains to be seen whether this will change for the coin soon or not. BTC Price At the time of writing, Bitcoin is trading at around $65,000, down 7% in the past week. Featured image from Dall-E, IntoTheBlock.com, chart from TradingView.com
Increased stablecoin usage could be a sign of growing crypto adoption for a maturing industry.
CEO Jenny Johnson believes institutions will deploy a second wave into Bitcoin funds and attract the truly big players.
Experts say BTC and ETH derivatives will be instrumental in integrating crypto to TradFi and sending each to new all-time highs.
In a bold move that has sent its stock price soaring, medical device company Semler Scientific Inc. has announced that it has allocated a significant portion of its cash reserves to Bitcoin (BTC). According to Bloomberg, the San Jose, California-based firm purchased 581 Bitcoin for a total of $40 million, including fees and expenses. Semler […]
Argentina wants to learn from El Salvador’s experience of Bitcoin adoption and other cryptocurrency activities.
On-chain data shows the Bitcoin adoption rate has slowed to the lowest since July 2018. Here’s what could be behind this trend. Bitcoin New Addresses Count Has Plunged To Multi-Year Lows According to data from the market intelligence platform IntoTheBlock, an interesting trend has appeared in the Bitcoin New Addresses metric. The “New Addresses” indicator […]
Some of Europe's largest banks are developing crypto solutions thanks to the regulatory clarity provided by the MiCA framework.
American business intelligence and software development company, MicroStrategy has unveiled new plans to acquire an additional Bitcoin, further bolstering its already substantial BTC holdings. MicroStrategy Mega Bitcoin Purchase In The Works In a recent press release published on MicroStrategy’s official website, the software development company announced plans to raise $500 million in convertible debt offerings to purchase more Bitcoin. Just a few days ago the company had sold approximately $800 million in convertible debt offerings, using the proceeds of the sale to acquire about 12,000 BTC valued at about $821.7 million at the time. Related Reading: Shiba Inu Whales Are Accumulating SHIB, Do They Know Something You Don’t? Quite frankly, MicroStrategy seems to be on a full-blown Bitcoin acquisition spree, potentially attributed to the cryptocurrency’s massive bullish rallies recently and its surge to new all-time highs. As of March 11, 2024, the business intelligence firm possesses a total of 205,000 BTC, worth over $15 billion based on CoinMarketCap’s Bitcoin price of $73,411, at the time of writing. With its latest purchase of 12,000 BTC, MicroStrategy has finally surpassed the Bitcoin holdings of BlackRock’s Spot Bitcoin Exchange Traded Fund (ETF). Additionally, the software development company has secured the top position as the leading public company with the largest Bitcoin holdings, surpassing the holdings of both Tesla and Coinbase. As of March 2024, MicroStrategy’s market capitalization has surged to $29.96 billion, reflecting an increase of 10.85% in the last 24 hours. The company is also presently ranked as the world’s 642nd most valuable company by market capitalization. MicroStrategy Sets Sights On Convertible Senior Notes Offerings Since the start of the year, MicroStrategy has purchased nearly 16,000 BTC. This time around the company has chosen to raise capital through convertible senior notes, marking a shift from the previous year when most of its funds for acquiring BTC were generated from equity. According to Market Watch’s report, the business intelligence firm’s stock value has also been on the rise recently, with MSTR prices witnessing an impressive 145% increase in a month. Related Reading: Ethereum Is Not Done: Crypto Analyst Sets New $5,000 Target As stated in its press release, the company intends to sell convertible senior notes to qualified institutional buyers. MicroStrategy has revealed plans to grant early purchasers of the notes an option to buy up to an additional $75 million worth of the notes within 13 days after the initial issuance. The software development firm has disclosed that the notes will remain unsecured, with interests payable semi-annually starting in September 2024. Additionally, MicroStrategy will have the right to redeem the notes from March 2028 or holders can request for the company to make a repurchase, with conversion terms determined at the offering’s prices. The proceeds and excess funds generated from its upcoming $500 million convertible senior notes sale will be used to expand MicroStrategy’s Bitcoin holdings and for general corporate purposes. BTC price falls to $72,700 | Source: BTCUSD on Tradingview.com Featured image from The Guardian, chart from Tradingview.com