bitcoinlfg

Category: NEWS

  • MicroStrategy buys 2,138 BTC to bring stash to 446,400

    MicroStrategy buys 2,138 BTC to bring stash to 446,400

    • MicroStrategy has added to its Bitcoin holdings with another 2,138 BTC purchase
    • This is the eighth consecutive week that the US-listed company has purchased Bitcoin
    • MicroStrategy’s announcement comes a day after Michael Saylor posted the company’s BTC tracker.

    MicroStrategy, the world’s largest publicly-traded holder of Bitcoin (BTC), has announced purchase of the flagship digital asset.

    The company, whose BTC buying spree has seen it become known as a Bitcoin development company, revealed the latest purchase on Dec. 30.

    MicroStrategy buys BTC again

    In the announcement, the company disclosed its eighth consecutive week of BTC acquisition involved the scooping of 2,138 bitcoins for $209 million. The company used funds from its at-the-market share sales, which currently stands at over $6.88 billion.

    Michael Saylor, the founder and executive chairman of MicroStrategy, had posted the company’s BTC tracker on Dec. 29, leading to speculation about today’s announcement.

    For its most recent BTC acquisition, MicroStrategy spent approximately $97,837 per BTC. With this purchase, MicroStrategy has extended its lead as the world’s largest holder of Bitcoin among publicly traded companies. It now hodls 446,400 BTC, acquired for a total of $27.9 billion and at the average purchase price of $62,428 per bitcoin.

    In total, the company has seen a BTC Yield of 47.8% quarter-to-date and 74.1% year-to-date.

    Despite the buying, Bitcoin price remained negative on the daily and weekly time frames, trading around $93,114 at the time of writing. Per CoinMarketCap, BTC was down 1.8% in the past 24 hours and 2.6% in the past week.

    Meanwhile, the MicroStrategy stock, which rose sharply amid the company’s joining of the Nasdaq 100, was down 13.3% in pre-market trading. MSTR closed at $330 on Dec. 27 but hovered around $319 at 8:30 ET on Dec. 30.

    Share this article
    Categories
    Tags



    Source link

  • Saylor posts MicroStrategy’s BTC tracker: Another Buy?

    Saylor posts MicroStrategy’s BTC tracker: Another Buy?

    Das Microstrategy-Logo auf einem Smartphone
    • Michael Saylor, founder of MicroStrategy, has shared the company’s Bitcoin tracker on X.
    • The market expects an annoncement that the company has acquired another chunk of BTC.
    • Bitcoin price hovered near $94,800 at the time of Saylor’s post on Dec. 29

    MicroStrategy founder Michael Saylor has posted the company’s Bitcoin (BTC) tracker chart on X again.

    In recent months, every such post has been followed by an announcement that the world’s largest corporate holder of the flagship digital asset had acquired another haul.

    Industry experts and observers have been quick to point out that MicroStrategy is about to announce another major BTC purchase.

    Noticeably, MicroStrategy has acquired additional BTC for billions of dollars in recent months, with these following such hints. The company announced it bought 27,200 BTC worth $2.03 billion on Nov. 10; another 51,780 BTC worth $4.5 billion on Nov. 17 and $5.32 billion for 55,500 BTC on Nov. 24.  The company’s buying spree also saw it add 15,350 bitcoins in mid-December.

    MicroStrategy so far holds 444,262 BTC

    Most recently, MicroStrategy acquired 5,262 BTC for $561 million, with the acquisition announced on Dec. 23 indicating the company bought at the average purchase price of $106,662 per bitcoin. This brought the total  BTC holdings as of Dec. 22, 2024 to 444,262 BTC, which MicroStrategy has cumulatively acquired for roughly $27.7 billion since 2020.

    The average purchase price of this entire haul, its dollar cost averaging, stood at $62,257 per bitcoin at the time of writing. Per Saylor portfolio tracker, the company’s holdings stand at $42.16 billion with Bitcoin price hovering near $94,780. Overall profit is over $14.5 billion.

    Here’s Saylor’s latest post on X:

    Bitcoin traded above $94k on Dec. 29, holding above the level after bears rejected bulls’ advances near the $100k level. Earlier this month, bulls recovered from lows of $92k – having suffered the massive slump from above the all-time high of $108k.

    While BTC price has not skyrocketed amid recent MicroStrategy buys, the market is extremely bullish amid the combination of the buy pressure, spot ETFs demand and other positive catalysts. Analysts say it could rally to $150k-$200k in 2025.

    Share this article
    Categories
    Tags



    Source link

  • Bitwise files new ETF targeting firms with large Bitcoin holdings

    Bitwise files new ETF targeting firms with large Bitcoin holdings

    • The Bitwise Bitcoin Standard Corporations ETF would invest in businesses that “hold at least 1,000 Bitcoin”
    • Companies need to have a market capitalization of at least $100 million to be included in Bitwise’s proposed ETF
    • KULR Technology Group started its Bitcoin Treasury strategy with the purchase of 217.18 Bitcoin for $21 million

    Bitwise has filed a proposal with US regulators to launch a new exchange-traded fund (ETF) to invest in publicly traded companies that hold substantial Bitcoin reserves.

    Under the Bitwise Bitcoin Standard Corporations ETF, the ETF issuer would invest in businesses that “hold at least 1,000 Bitcoin in its corporate treasury,” according to a December 26 filing with the US Securities and Exchange Commission (SEC).

    To further qualify to be included in the ETF, companies need to have a market capitalization of at least $100 million, an average daily liquidity of $1 million or more, and a public free float of less than 10%.

    The proposed ETF from Bitwise would assign stock weight based on the market value of a company’s Bitcoin holdings, ensuring this is capped at 25%.

    Reaching new heights

    The news comes as Bitcoin has experienced a rise in value following the US election win of President-elect Donald Trump. At its peak, Bitcoin reached a new all-time high above $107,000 earlier this month. In a client memo in November, Bitwise’s CIO Matt Hougan said the US election was either going to be a “speed bump” or a “wind gust” for the crypto market.

    Significantly, in recent weeks, more companies have been buying Bitcoin to push up stock prices. On December 23, MicroStrategy announced on X that it now holds 444,262 Bitcoin after acquiring a further 5,262 Bitcoin for $561 million.

    In other related news, KULR Technology Group announced on December 26 that it had started its Bitcoin Treasury strategy with the purchase of 217.18 Bitcoin for $21 million.

    Share this article
    Categories
    Tags



    Source link

  • KULR launches Bitcoin treasury with $21m BTC purchase

    KULR launches Bitcoin treasury with $21m BTC purchase

    • The $21 million BTC purchase follows the KULR’s announcement on Dec. 4.
    • Other companies to launch a Bitcoin treasury strategy in recent weeks include Rumble, Marathon Digital, Semler Scientific and Thumzup.
    • MicroStrategy is the biggest corporate holder of Bitcoin with over 444k BTC

    KULR Technology Group, Inc., listed on the New York Stock Exchange, is the latest tech company to adopt Bitcoin as a treasury asset.

    A few weeks after the energy management platform announced plans to add BTC to its treasury, the company announced on Dec. 26 that it had officially begun the initiative. KULR said in a press release that its first purchase involved 217.18 bitcoin acquired for $21 million.

    KULR’s bitcoin bag was acquired at the average purchase price of $96,556.53 per BTC.

    On Dec. 4, when the publicly-listed company disclosed its Bitcoin treasury strategy, it revealed plans that included allocating up to 90% of the firm’s surplus cash to the flagship cryptocurrency.

    With sentiment extremely bullish amid the anticipation around pro-crypto Donald Trump’s administration, several companies have adopted or disclosed plans to add BTC to their treasury strategies..

    These include Rumble, Boyaa Interactive, Thumzup and BTC miner Marathon Digital.

    Metaplanet became known as ‘Asia’s MicroStrategy’ after adopting the BTC strategy to lead the Asian charge. MicroStrategy has regularly bought Bitcoin since its first purchase in 2020, and currently holds 444,262 BTC acquired for over $27 billion.

    “The $21 million of BTC purchased since the announcement is the first of ongoing purchases the Company intends to make going forward,” KURL noted in its announcement on Boxing Day. Coinbase Prime will offer custody and wallet services for KURL’s haul of BTC.

    Bitcoin traded around $95,670 at the time of writing, about 3% down in the past 24 hours.

    Share this article
    Categories
    Tags



    Source link

  • Ethereum ETFs inflows surge as Bitcoin ETFs see major outflows

    Ethereum ETFs inflows surge as Bitcoin ETFs see major outflows

    Ethereum ETFs inflows surge while Bitcoin ETFs see major outflows
    • Ethereum ETFs inflows are outdoing Bitcoin ETF inflows.
    • BlackRock’s iShares Ethereum Trust (ETHA) ETF leads with a $89.51M inflow on Dec 23, 2024.
    • This Market shift may signal an altcoin season in 2025.

    In a surprising turn of events in the cryptocurrency market, Ethereum spot ETFs have been experiencing significant inflows, overshadowing the outflows noted in Bitcoin ETFs.

    On December 23, 2024, Ethereum ETFs recorded a net inflow of $130.8 million, with BlackRock’s iShares Ethereum Trust (ETHA) ETF leading with $89.50 million and Fidelity’s Ethereum ETF (FETH) adding $46.40 million according to Coinglass data. In stark contrast, Bitcoin ETFs saw outflows totalling $226.50 million on the same day.

    This trend has been consistent over recent weeks. For instance, on December 12, Ethereum spot ETFs had a cumulative net inflow of $273.70 million, continuing their streak of 14 consecutive days with positive inflows. BlackRock’s ETHA ETF alone saw a single-day net inflow of $202.30 million, while Grayscale’s Ethereum ETF (ETH) contributed $73.20 million.

    Ethereum ETFs inflows
    Source: Coinglass
    Bitcoin ETFs inflows
    Source: Coinglass

    The shift signals a possible start of an altcoin season

    Bitcoin ETFs, despite having higher trading volumes, have been facing outflows, suggesting a possible shift in investor sentiment towards Ethereum.

    Market analysts speculate that this could signal the onset of an ‘altcoin season’, where investors might be diversifying their portfolios beyond Bitcoin, with ETH leading the pack.

    This shift in investment flow is particularly notable as it comes at a time when Bitcoin has been dominating headlines with its price performance, reaching over $108,000 earlier in December.

    The underlying reasons for this trend might include Ethereum’s growing ecosystem, particularly in decentralized finance (DeFi) and non-fungible tokens (NFTs), which could be attracting investors looking for dynamic growth opportunities.

    Additionally, the regulatory environment under the incoming administration might be perceived as more favourable for Ethereum, given its broader use-case applications beyond just being a store of value like Bitcoin.

    This development raises questions about the future direction of crypto investments. While Bitcoin has long been the bellwether of the crypto market, Ethereum’s recent performance in the ETF space might hint at a rebalancing of investor interest, potentially leading to more balanced growth across different cryptocurrencies in 2025.

    Share this article
    Categories
    Tags

    Source link

  • Avalon Labs raises $10m in series A round

    Avalon Labs raises $10m in series A round

    Japan’s Metaplanet buys $7M Bitcoin

    Avalon Labs, the issuer of Bitcoin (BTC)-backed stablecoin USDa, has secured $10 million in a Series A financing round that attracted several venture capital firms.

    “We are known for many things but today is not about us. The team from Avalon Finance is honored to announce the closing of our 10M Series A Round,” the platform posted on X.

    Venture capital firm Framework Ventures led the funding round, which attracted the participation of UXTO Management, Prestoby Framework Ventures and Kenetic Capital.

    In an announcement, the Avalon Labs team said the project will use the funding support to expand its BTC decentralized finance ecosystem.

    In this case, Avalon’s aim is to evolve Bitcoin from being just a digital store of value to a robust financial instrument.

    “We are pioneering the future of Bitcoin-backed financial solutions, creating the first comprehensive ecosystem that unlocks the true potential of the world’s leading cryptocurrency” the Avalon team wrote.

    Avalon’s USDa stablecoin allows users to tap into DeFi on Bitcoin by collateralizing it. The platform’s borrowing rate is fixed at 8%, which allows USDa holders to access liquidity while keeping their BTC positions.

    USDa, Avalon’s flagship collateralized debt position (CDP), ranks as the second-largest CDP per data from DeFiLlama. Its TVL hit $700 million in early December and its competitors include MakerDAO’s DAI and Liquity

    Share this article
    Categories
    Tags



    Source link

  • La Rosa Holdings to allow real estate agents to receive commissions in crypto

    La Rosa Holdings to allow real estate agents to receive commissions in crypto

    La Rosa Holdings to allow real estate agents to receive commissions in crypto
    • La Rosa agents can now receive commissions in cryptocurrency with a 2% fee.
    • The initiative aims to streamline transactions and meet the demand for crypto payments.
    • La Rosa reported a 155% revenue growth, hitting $51.7M in the first nine months of 2024.

    La Rosa Holdings Corp. (NASDAQ: LRHC), a leading technology-integrated real estate company, has announced a groundbreaking initiative to enable its network of over 3,000 real estate agents in the United States to receive commissions in cryptocurrency. This positions La Rosa as a pioneer in integrating blockchain technology into the real estate sector.

    Real estate agents will have the option to receive payouts in digital assets, including Bitcoin (BTC), under a 2% fee structure. The plan addresses the growing demand for alternative payment options and reflects the company’s commitment to innovation.

    By leveraging blockchain technology, La Rosa aims to streamline transactions, enhance security, and reduce associated fees.

    In a press release announcing the initiative, Alex Santos, the Chief Technology Officer of La Rosa said, “Our intention to introduce cryptocurrency payments represents a natural evolution in our commitment to innovation and broker empowerment. Blockchain technology has the potential to simplify real estate transactions while offering agents and clients unmatched flexibility.”

    Joe La Rosa, the company’s CEO, emphasized that cryptocurrency payments could lead to faster, more secure transactions while offering agents the potential to benefit from digital asset appreciation.

    “This initiative not only positions La Rosa at the forefront of technological innovation in real estate but also creates new opportunities for our agents,” said La Rosa. “We are proud to empower our network with cutting-edge solutions while meeting the growing demand for alternative payment methods.”

    La Rosa Holdings, which operates 25 corporate offices across the US and Puerto Rico, has seen remarkable growth, with a 188% year-over-year revenue increase in the first nine months of 2024, reaching $51.7 million. The company’s flexible business model offers agents a choice between a 100% commission plan and a revenue-sharing model.

    By integrating cryptocurrency payment options, La Rosa Holdings continues to lead the charge in redefining real estate transactions, ensuring its agents remain competitive in a rapidly evolving marketplace.

    Share this article
    Categories
    Tags

    Source link

  • What happened in crypto this week

    What happened in crypto this week

    Bitcoin all-time high

    It’s been another busy week in the crypto market: Bitcoin tops $107,000, FTX is to begin customer repayments in early 2025, CyberKongz receives “concerning rhetoric” in Wells notice from the SEC, US lawmakers cancel vote to renominate SEC Commissioner Caroline Crenshaw, and Injective and Sonic partner to build first cross-chain AI agent hub.

    Bitcoin tops $107,000 for the first time

    Earlier this week, Bitcoin reached new heights, topping above $107,000. At the same time, the defunct crypto exchange Mt. Gox moved around 1,620 Bitcoin to an unknown wallet. The value of the Bitcoin transfer stood at over $172.5 million.

    The Bitcoin movement followed a transfer made two weeks ago by Mt. Gox. Then, the platform moved 24,000 Bitcoin to unknown wallets. According to Arkham, the bankrupt exchange transferred 1,619.6 Bitcoin in two transfers: one of 1,427.9 and the other of 191.7 to two new addresses.

    Before hitting $107,000, Bitcoin reached $106,000 following news that President-elect Donald Trump is considering plans to create a US Bitcoin strategic reserve. Investors believe Bitcoin reaching $120,000 by the end of 2024 is achievable.

    FTX to begin crypto repayments in early 2025

    Collapsed crypto exchange FTX has announced that it will start its customer distribution in early January. Its court-approved Chapter 11 bankruptcy reorganization will be effective on January 3, 2025.

    FTX is to work with crypto custodian BitGo and crypto exchange Kraken to distribute assets to retail and institutional investors. In November, it was reported that FTX was to start distributions by March 2025.

    FTX collapsed in November 2022, with five of the top executives jailed or sentenced to time served. This includes former CEO Sam Bankman-Fried who was sentenced to 25 years in prison in March.

    CyberKongz receives Wells notice from the SEC

    CyberKongz, a non-fungible token (NFT) platform, received a Wells notice from the US Securities and Exchange Commission (SEC).

    In a post on X, CyberKongz said that they have “been suffering in silence for the last two years, ever since we first received contact from the SEC,” adding that it had received some “concerning rhetoric” that an ERC-20 token can’t be issued with a blockchain game without being registered as a security.

    By issuing a Wells notice, the SEC believes there may be securities law violations and is preparing to take action against the platform. One of the issues the SEC has with CyberKongz is the “sale” of its Genesis Kongz NFTs in April 2021; however, CyberKongz said this was a contract migration and not a sale.

    Earlier this year, crypto exchange Coinbase received a Wells notice from the SEC followed by OpenSea, an NFT marketplace, and blockchain gaming platform Immutable.

    US lawmakers cancel vote to renominate SEC Commissioner Caroline Crenshaw

    A US Senate vote to renominate Democrat Caroline Crenshaw for a second term at the US Securities and Exchange Commission (SEC) was canceled this week.

    The original vote was scheduled for December 11; however, Sherrod Brown, the Senate Banking Committee Chair, postponed it within minutes of starting, due to issues between the Democrats and Republicans.

    Brown later released a statement saying that corporate special interests are running a “disgusting smear campaign against Caroline Crenshaw.”

    Yet, with Congress stopping on December 20 for the holidays, Crenshaw was not renominated before President-elect Donald Trump’s administration re-enters the White House in January.

    Following the news of Crenshaw’s reappointment, Brian Armstrong, CEO of Coinbase, took to X to say: “She tried to block the Bitcoin ETFs, and was worse than Gensler on some issues (which I didn’t think was possible).”

    Injective and Sonic partner to build the first cross-chain AI agent hub

    Injective and Sonic are working together to create the first cross-chain artificial intelligence (AI) agent platform.

    The two crypto platforms said the new AI agent hub will leverage Sonic’s HyperGrid technology to integrate Solana and Injective ecosystems. The Smart Agent Hub will also leverage the Inter-Blockchain Communication Protocol (IBC), an open-source protocol enabling blockchain interoperability.

    According to Injective Labs, the AI agent hub will offer developers the tools to create, deploy, and monetize AI agents across the decentralized ecosystem.

    Share this article
    Categories
    Tags

    Source link

  • Court gives Coinbase the green light to delist Wrapped Bitcoin (WBTC)

    Court gives Coinbase the green light to delist Wrapped Bitcoin (WBTC)

    Court gives Coinbase the green light to delist Wrapped Bitcoin (WBTC)
    • A US federal judge has allowed Coinbase to delist WBTC despite BiT Global’s objections.
    • Judge Martínez-Olguín denied BiT Global’s TRO, citing lack of evidence of harm.
    • Despite the delisting and Coinbase launching cbBTC, WBTC dominates the wrapped digital assets market with an 85% share.

    In a pivotal legal decision, a California federal judge has ruled in favour of cryptocurrency exchange Coinbase, allowing it to proceed with the planned delisting of Wrapped Bitcoin (WBTC).

    The ruling, delivered by Judge Araceli Martínez-Olguín of the US District Court for the Northern District of California, came after a contentious legal battle initiated by BiT Global, a digital asset custodian partly owned by Tron founder Justin Sun.

    The BiT Global lawsuit against Coinbase for WBTC delisting

    The dispute began in November 2024 when Coinbase announced its intention to delist WBTC, citing concerns over its association with Justin Sun.

    Sun, a controversial figure in the crypto space, has faced allegations of fraud and market manipulation.

    BiT Global responded by filing a $1 billion lawsuit against Coinbase on antitrust grounds, seeking a temporary restraining order (TRO) to halt the delisting. The firm argued that the move would destabilize WBTC’s market and cause substantial financial harm to investors.

    Temporary restraining order (TRO) declined

    During a virtual hearing on December 18, Judge Martínez-Olguín denied BiT Global’s request for a TRO, ruling that the company failed to provide sufficient evidence of imminent and irreparable harm. She noted that BiT Global’s delay in filing the lawsuit after Coinbase’s initial announcement weakened its case.

    In its defence, Coinbase pointed to BiT Global’s refusal to disclose ownership details and concerns about Sun’s influence over the token’s integrity.

    While the court left open the possibility for BiT Global to present stronger evidence in the future, the decision effectively cleared the path for Coinbase to delist WBTC as planned on December 19.

    Notably, WBTC’s delisting comes amid Coinbase’s recent launch of its own wrapped bitcoin token, cbBTC, raising questions about competitive motives.

    Despite the controversy, WBTC continues to dominate the wrapped bitcoin market, holding 85% of the Ethereum network’s market share.

    Share this article
    Categories
    Tags

    Source link

  • El Salvador to ‘confine’ its Bitcoin activities in $1.4bn loan deal with the IMF

    El Salvador to ‘confine’ its Bitcoin activities in $1.4bn loan deal with the IMF

    • The IMF said “potential risks” of El Salvador’s Bitcoin project will be “diminished significantly”
    • A Bitcoin podcaster questioned the true cost of the IMF’s monetary assistance to El Salvador
    • El Salvador will receive additional funding from other major banks in a financial package totaling over $3.5 billion

    El Salvador will receive a $1.4 billion loan from the International Monetary Fund (IMF) over the next 40 months as it “confines” its Bitcoin-related activities.

    The IMF is to loan the amount to the Central American country under the Extended Fund Facility (EFF) so it can support the government’s economic reforms.

    “The potential risks of the Bitcoin project will be diminished significantly in line with Fund policies,” the IMF said in a statement.

    The IMF said that acceptance of Bitcoin by the private sector will be made voluntary while engagement in “Bitcoin-related economic activities and transactions in and purchases of Bitcoin will be confined.”

    Taxes will only be paid in US dollars, the IMF noted, adding that El Salvador’s government participation in its Chivo crypto wallet “will be gradually unwound.”

    “Transparency, regulation, and supervision of digital assets will be enhanced to safeguard financial stability, consumer and investor protection, and financial integrity,” the IMF said.

    Juan, a Bitcoin podcaster, said on X that it’s like “watching a chess game where every move is calculated for economic recovery,” adding “yet it also raises questions about the true cost of such ‘assistance.’”

    Changing plans

    Earlier this month, it was reported that El Salvador was reducing its Bitcoin ambitious to secure the IMF loan.

    As well as making the acceptance of Bitcoin voluntary, the government would also reduce its budget deficit by 3.5% of GDP over three years through spending cuts and tax rises while boosting reserves from $11 billion to $15 billion.

    El Salvador is expected to receive additional funding support from the World Bank, the Inter-American Development Bank, and other regional development banks. In total, the overall financial package will reach over $3.5 billion.

    El Salvador began accepting Bitcoin as legal tender in 2021, making it the first to do so.

    Following El Salvador’s adoption, the IMF sent a statement in November 2021 “recommend[ing] narrowing the scope of the Bitcoin law” while “strengthening the regulation and supervision of the new payment system.”

    This was again called for in January 2022 when the IMF advised El Salvador to reconsider its decision on Bitcoin as the country’s legal tender. More recently, the IMF recommended El Salvador limit the public’s exposure to Bitcoin.

    Share this article
    Categories
    Tags



    Source link