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  • Michael Saylor urges Microsoft to adopt Bitcoin, says it represents digital capital

    Michael Saylor urges Microsoft to adopt Bitcoin, says it represents digital capital

    • Michael Saylor said Bitcoin represents the “greatest digital transformation of the 21st century”
    • Saylor believes it “makes sense” for Microsoft to buy and hold Bitcoin rather than buy stock back or hold bonds
    • Over the past five years, Saylor said that Microsoft has surrendered hundreds of billions of dollars of capital

    Michael Saylor has told Microsoft that Bitcoin is the best asset a company should own, claiming it represents the “greatest digital transformation of the 21st century.”

    Taking to X, Saylor, CEO of MicroStrategy, posted a three-minute video tagging Satya Nadella, Microsoft’s chair and CEO, and its board of directors. In the video, Saylor said:

    “Microsoft can’t afford to miss the next technology wave, and Bitcoin is the next wave. Bitcoin represents the greatest digital transformation of the 21st century; it represents digital capital.”

    Talking about long-term capital, Saylor noted that risk – including general taxes, politics, recession, regulation, war, and the weather – is destroying over $10 trillion in capital each year.

    Because of this, investors are turning their attention to digital capital, such as Bitcoin, to avoid these risks. In Saylor’s view, “it makes sense” for Microsoft to buy and hold Bitcoin rather than buy back stock or hold bonds.

    “If you’re going to outperform, you’re going to need Bitcoin,” Saylor said. “You’ve surrendered hundreds of billions of dollars of capital over the past five years, and you’ve just amplified the risks that your own shareholders face. If you want to escape that vicious cycle, you’re going to need an asset without counterparty risk.”

    In Saylor’s opinion, that lies with Bitcoin.

    MicroStrategy is fully behind Bitcoin

    Since August 2020, MicroStrategy has been buying Bitcoin. Since then, the company now holds 402,100 Bitcoin, valued at more than $38.4 billion, according to MSTR-Tracker.

    Earlier this month, MicroStrategy purchased an extra 51,780 Bitcoin, valued at $4.6 billion. In a post on X yesterday, Saylor posted that the company had bought an extra 15,400 Bitcoin at $95,976 per Bitcoin.

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  • iDEGEN hits $1.6 million as AI tokens bid to join altcoin party

    iDEGEN hits $1.6 million as AI tokens bid to join altcoin party

    The birth of iDEGEN: a new era of community-powered AI

    iDEGEN has hit the crypto market running, riding a major bullish mood engulfing the entire market.

    This comes as traders cheer Bitcoin’s massive and record monthly green candle. As the benchmark crypto looks to break the sell wall at the $100k level, several altcoins are toying with levels that have traders excited.

    Amid the market-wide buzz is an aggressive positioning across the artificial intelligence related space. Some of the best performing tokens in the last few months have been AI tokens, which has analysts pointing to the real upside as one ahead.

    Does this make iDEGEN the biggest opportunity among AI tokens as the bull run shapes up? Here’s more.

    Altcoins eye rally

    While Bitcoin has struggled with the sell wall at $100k, bulls remain upbeat amid a rising supply shock. Demand for the flagship cryptocurrency has seen multiple publicly-listed companies announce major moves to buy BTC.

    The bullish predictions for Bitcoin have also extended to top coins Ethereum, XRP, Solana and Cardano.

    However, analysts are most bullish about small caps and gems in emerging crypto market segments. In 2025, the most profitable tokens are likely in AI. Notably, it’s AI agents that have the market in alert mode. This subsector of the AI and crypto merge has received massive traction after platforms like Terminal of Truth made Goateus Maximus a bull market sensation.

    According to crypto analyst Miles Deutscher, the industry has yet to hit even 0.01% of what these projects can offer.

    “From Adobe to Expedia, many top corporations have built & integrated AI Agents in the past 1-2 years. This trend is only going to increase,” Deutscher said.

    iDEGEN races to $1.6 million presale raise

    iDEGEN’s freelance operation with its launch based on zero knowledge is purely dependent on the real time interactions with users on X. Currently in its presale phase, the iDEGEN token has raced to over $1.6 million.

    This comes as tokens sold in the past week surges to over 385 million, adding to IDGN token’s viral spike after raising over $1 million in just over 72 hours.

    IDGN is “sentient” and “degenerate”.

    Ideally, iDEGEN is an AI project that engages the crypto community through X, tweeting every sixty minutes as its learning evolves. The design starts with a blank AI, but degens have the opportunity to teach it and help it take over crypto twitter.

    As an AI powered “born and raised” agent, iDEGEN has the potential to grow into what the crypto degen community wants. The native token IDGN could evolve similarly, following this trend to surpass GOAT and others.

    iDEGEN will launch in January, and investors have a chance to buy early into a sector at the cusp of a major breakout. Top industry players are making moves that mean the whole sector is only getting started.

    At $0.0201, IDGN is still a relative bargain for a token that could go 100x or more in the next bull cycle.

    Do you want to learn more about iDEGEN or how to buy IDGN? Visit the official presale page.

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  • Vancouver mayor proposes Bitcoin as city reserve asset for stability

    Vancouver mayor proposes Bitcoin as city reserve asset for stability

    Vancouver mayor proposes Bitcoin as city reserve asset for stability
    • Vancouver Mayor Ken Sim proposes Bitcoin as a reserve asset to protect purchasing power.
    • Jeff Booth supports Ken Sim’s proposal, recognizing Bitcoin’s potential as a strategic asset.
    • Former USA CFTC Chairman Giancarlo advocates for Bitcoin reserves, likening it to gold.

    Vancouver Mayor Ken Sim has introduced a bold proposal to explore Bitcoin as a reserve asset for the city, aiming to diversify its financial resources and safeguard its purchasing power.

    The motion, titled “Preserving the city’s purchasing power through diversification of financial resources: Becoming a Bitcoin-friendly city,” is scheduled to be officially presented to the Vancouver City Council on December 11, 2024. The proposal marks a significant shift toward cryptocurrency adoption by a major city government.

    Protecting Vancouver from economic shocks using Bitcoin

    In his motion, Mayor Sim seeks to investigate how Bitcoin could help protect Vancouver from economic volatility and inflation by adding it to the city’s reserves.

    It comes amid growing interest in Bitcoin as a reserve asset at the government level, particularly in the United States. Several US lawmakers have recently proposed holding Bitcoin in public financial reserves, highlighting the increasing consideration of cryptocurrency in national economic strategies.

    Although the full text of the proposal has not yet been made available, Bitcoin advocate Jeff Booth voiced support for Mayor Sim’s plan during a discussion on X Spaces on November 26, 2024. Booth described the motion as an important step in recognizing Bitcoin’s potential as a strategic financial asset for the city.

    Former CFTC chairman supports a Bitcoin reserve in the USA

    Meanwhile, Christopher Giancarlo, the former Chairman of the US Commodity Futures Trading Commission (CFTC), has been vocal about the potential for Bitcoin as a strategic reserve asset for the US.

    In a recent interview, Giancarlo referred to Bitcoin as the “world’s first digital commodity,” noting its similarities to traditional commodities such as gold, oil, and copper, which nations have historically hoarded. He praised the idea of a national Bitcoin reserve, emphasizing its potential to provide long-term financial stability in an increasingly digital economy.

    Giancarlo also acknowledged concerns about Bitcoin’s speculative nature but drew parallels to the dot-com bubble, where early-stage speculation gave way to technological breakthroughs that revolutionized industries. He believes the same evolution could occur with blockchain and Bitcoin technology, making it a forward-looking move for governments and financial institutions.

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  • Bitcoin reserve bill introduced in Brazil

    Bitcoin reserve bill introduced in Brazil

    • Bitcoin adoption could get another boost from Brazil.
    • This is after a Brazilian Congressman introduced a bill proposing adoption of BTC as national reserve asset.
    • US lawmakers are also pushing for a Bitcoin strategic reserve.

    A Congressman in Brazil has introduced a Bitcoin reserve bill, adding the country to a growing list of nations looking to tap into the flagship cryptocurrency as a treasury reserve asset.

    On Nov. 25, Brazilian Congressman Eros Biondini introduced a new proposal aimed at the creation of a Bitcoin (BTC) reserve in Brazil.

    The proposal, titled ‘Bitcoin Sovereign Strategic Reserve (RESBit)’, outlines the benefits of adopting BTC as a national Treasury reserve asset. Diversification of the country’s assets and reduction of economic risk are part of the strategic plan. The bill also looks at the opportunity this would offer in terms of putting Brazil at the forefront of technological and financial innovation and development globally.

    According to Biondini, RESBit will be critical to bolstering Brazil’s economic sovereignty if approved.

    In this case, Biondini proposes a gradual addition of BTC to the strategic reserve coffers. The bill targets having Bitcoin form 5% of the country’s national reserves. The acquisition and management of this project will be under the Central Bank of Brazil, with purchased BTC stored in cold wallets.

    During his campaign, US president-elect Donald Trump vowed to support a strategic Bitcoin reserve for the country. Since his election to office, and ahead of his inauguration in January, a lot has happened with regard to a US national bitcoin reserve. US senator Cynthia Lummis has spearheaded these efforts, with multiple industry players backing it.

    This comes as other countries, including Argentina, Morocco, and Romania add to the overall bullishness around BTC adoption across the globe.

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  • What happened in crypto this week

    What happened in crypto this week

    Solv Protocol introduces Bitcoin staking on Base with cbBTC token

    It’s been another busy week in the crypto market: MicroStrategy buys another $4.6 billion of Bitcoin, BlackRock’s Bitcoin ETF options brings in $2 billion on day one, Donald Trump’s transition team considers first White House crypto office, Justin Sun buys a banana for $6.2 million, SEC chair Gensler to step down on January 20, Bitcoin nears $100k as rally continues, and US spot Bitcoin ETFs hit $30 billion in total net flows.

    Let’s look at these and recap what happened this week in crypto.

    MicroStrategy buys another $4.6 billion of Bitcoin

    MicroStrategy is going long on Bitcoin as it adds more of the asset to its already impressive haul.

    On November 18, the company announced that it had bought an extra 51,780 BTC. This latest addition pushes MicroStrategy’s total Bitcoin holdings to 331,200. The news follows after the company’s founder, Michael Saylor, announced the purchase of more than $2 billion worth of Bitcoin.

    The publicly-listed company, whose stock MSTR has surged amid Bitcoin’s price spike, has acquired $16.5 billion worth of BTC. The average purchase price is $49,874, putting the company billions of dollars in profit as the benchmark cryptocurrency trades near its all-time high.

    BlackRock’s Bitcoin ETF options brings in $2 billion on day one

    The launch of options contracts on BlackRock’s iShares Bitcoin Trust (IBIT) nearly reached $2 billion on day one of trading.

    Taking to X, Bloomberg exchange-traded fund (ETF) analyst James Seyffart, said:

    “Final tally of $IBIT’s 1st day of options is just shy of $1.9 billion in notional exposure traded via 354k contracts. 289k were Calls & 65k were Puts. That’s a ratio of 4.4:1.”

    Bloomberg’s senior ETF analyst Eric Balchunas, said “$1.9b is unheard of for Day One.”

    As a result, BlackRock’s options may have helped push Bitcoin to a record of over $94,000.

    The launch of BlackRock’s options contracts comes as institutional interest in Bitcoin rises. With the IBIT options, investors can gain exposure to new avenues of investment while managing their risk through the call and put options without owning the underlying asset.

    At the end of October, BlackRock’s IBIT reached $30 billion in net assets in 293 days. Two weeks later, it reached $40 billion in net assets in 211 days, showcasing rising interest in crypto investments.

    Donald Trump’s transition team considers first White House crypto office

    As Donald Trump prepares to enter the White House, reports are underway that his transition team are appointing a senior figure to oversee the growing digital assets industry. By doing so, the figure will oversea regulation at the highest level of government.

    While no final decision has been made, Trump’s team has reportedly consulted with several crypto leaders, including Brian Brooks, the former CEO of Binance.US, and Brian Armstrong, the CEO of Coinbase.

    Whoever gets the job, industry advocates are pushing for the role to be one with significant access to Trump, By doing so, industry concerns are heard at the highest level of power.

    Justin Sun buys a banana for $6.2 million

    Justin Sun, the founder of Tron, bought a banana taped to a wall for $6.24 million earlier this week.

    Sotheby’s, who hosted the auction, started bidding at $800,000 before jumping into the millions.

    Taking to X, Sun, the founder of Tron, said: “I believe this piece will inspire more thought and discussion in the future and will become a part of history. I am honored to be the proud owner of the banana and look forward to it sparking further inspiration and impact for art enthusiasts around the world.”

    Before the auction, Sotheby’s estimated it would sell between $1 million and $1.5 million.

    SEC chair Gensler to step down on January 20

    Gary Gensler, chair of the US Securities and Exchange Commission (SEC), announced that he will step down effective January 20, 2025.

    Gensler took over as SEC chair in 2021, following the appointment of Joe Biden as President of the United States. Since filling the role, the SEC has filed several lawsuits against crypto companies, including Binance, Coinbase, Kraken, and Ripple.

    His departure from the crypto market will no doubt be seen as a breath of fresh air, given that the SEC – under his leadership – has become known for its regulation-by-enforcement approach toward crypto.

    Bitcoin nears $100k as rally continues

    On November 22, Bitcoin came within touching distance of hitting $100,000 for the first time, continuing its bull run since the start of November.

    According to data from CoinMarketCap, Bitcoin reached $99,500, pushed along by the launch of ETF options earlier in the week. A day previously, Bitcoin topped $98,000.

    Joe Constori, head of growth at Theya and institutional lead at the Bitcoin Layer, said on X that Bitcoin at $100,000 is going to happen.

    “Its properties have always destined it to be a multi-trillion dollar base layer monetary asset. It just took the price 15 years to catch up,” he added.

    At the start of the week, Bitcoin was trading around $93,000.

    US spot Bitcoin ETFs hit $30 billion in total net flows

    US spot Bitcoin ETFs took in $1 billion in daily total net inflows on Friday as Bitcoin inched closer to $100,000.

    BlackRock’s iShares Bitcoin Trust (IBIT) saw the most inflows, attracting $608.41 million, according to SoSoValue data. Fidelity’s FBTC followed with $300.95 million. Bitwise’s Bitcoin ETF brought in $68 million and Ark and 21Shares’ ARKB attracted $17.18 million.

    The only ETF to experience negative outflows was Grayscale’s GBTC AT $7.8 million.

    Since launching in January – following approval from the US Securities and Exchange Commission (SEC) – the 12 spot Bitcoin ETFs have earned a combined $30.35 billion.

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  • Cboe to launch first cash-settled Bitcoin index options

    Cboe to launch first cash-settled Bitcoin index options

    Cboe to launch first cash-settled Bitcoin index options
    • Cboe to launch cash-settled Bitcoin index options based on the CBTX index on Dec 2.
    • The options will offer indirect exposure to Bitcoin via US spot Bitcoin ETFs.
    • Mini options and customizable FLEX options will also be available at launch.

    Cboe Global Markets, a leader in the derivatives and securities exchange network, has announced plans to launch the first cash-settled index options tied to the price of spot Bitcoin.

    The new offering, set to go live on December 2, 2024, will be based on the Cboe Bitcoin US ETF Index (CBTX), marking a significant development in the world of cryptocurrency derivatives.

    The CBTX index, a modified market cap-weighted benchmark developed by Cboe Labs and Cboe Global Indices, is designed to track the performance of a basket of Bitcoin exchange-traded funds (ETFs) listed on US exchanges. The index aims to offer indirect exposure to spot Bitcoin by reflecting the performance of these ETFs, providing investors with a way to gain exposure to Bitcoin’s price movements without directly holding the asset.

    The upcoming options will be listed exclusively on the Cboe Options Exchange, regulated by the US Securities and Exchange Commission (SEC), and will be cash-settled at expiration. This means that positions will be closed in cash rather than requiring physical delivery of Bitcoin ETFs, simplifying the process for traders.

    In addition, these options will feature European-style exercise, meaning they can only be exercised on the expiration date, eliminating the risk of early assignment.

    To further broaden market access, Cboe will also offer mini options (MBTX) at launch. These options will be one-tenth the notional value of the standard options, offering greater flexibility for smaller portfolios and more granular risk management.

    Additionally, Cboe plans to introduce cash-settled FLEX options for both CBTX and MBTX, allowing traders to customize key contract terms, such as exercise price, style, and expiration date.

    Rob Hocking, Global Head of Product Innovation at Cboe, highlighted that the new options products are designed to meet the growing demand for efficient exposure to Bitcoin.

    The launch aligns with Cboe’s broader digital assets strategy, which includes Bitcoin and Ether futures, and aims to provide both institutional and retail investors with innovative tools to capitalize on or hedge against Bitcoin price movements.

    This move underscores Cboe’s commitment to expanding its crypto derivatives offerings and strengthening its position as a leading venue for crypto-related trading products.

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  • US spot Bitcoin ETFs hit $30 billion in combined net inflows since January launch

    US spot Bitcoin ETFs hit $30 billion in combined net inflows since January launch

    • BlackRock’s IBIT attracted the most at over $600 million followed by Fidelity’s FBTC with $301 million
    • The 12 spot Bitcoin ETFs have brought in a combined $30.35 billion since launching in January

    US spot Bitcoin exchange-traded funds (ETFs) took in $1 billion in daily total net inflows yesterday as Bitcoin inched closer to the $100k mark.

    BlackRock’s iShares Bitcoin Trust (IBIT) saw the most inflows, attracting $608.41 million, according to SoSoValue data. Fidelity’s FBTC followed with $300.95 million. Bitwise’s Bitcoin ETF brought in $68 million and Ark and 21Shares’ ARKB attracted $17.18 million.

    Grayscale’s GBTC was the only one with negative net flows, recording $7.8 million outflows.

    The 12 spot Bitcoin ETFs have earned a combined $30.35 billion since launching in January following approval from the US Securities and Commission (SEC).

    US Spot Bitcoin value. Source: SoSoValue

    Elevated trade among the spot Bitcoin ETFs followed as Bitcoin climbed to the $100k mark on November 22, continuing its bull run.

    The inflows also come after BlackRock launched its options contracts earlier this week. During trading on day one, BlackRock’s options brought in nearly $2 billion, helping to push Bitcoin to more than $94,000.

    Grayscale announced this week that it was also launching Bitcoin ETF options following BlackRock’s impressive debut and a surge in investor interest.

    As trade continues through spot Bitcoin ETFs, it’s becoming clear that these avenues are one of the main ways for investors to hold Bitcoin. According to Bloomberg analyst Eric Balchunas, US Bitcoin ETFs hit $100 billion in assets, adding on X:

    “They’re now 97% of [the] way to passing Satoshi as [the] biggest holder and 82% of [the] way to passing gold ETFs.”

    Elsewhere, in the market, Ethereum is up by more than 7% over the past week at $3,285, Solana has seen a nearly 20% increase at $253, and XRP has risen close to 60% to $1.44 in the same time, according to CoinMarketCap.

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  • Bitcoin gets within touching distance of $100K as rally continues

    Bitcoin gets within touching distance of $100K as rally continues

    Analysts anticipate a Bitcoin Dogs breakout as Bitcoin (BTC) teases new ATH
    • Bitcoin’s new price follows after it hit $98,000 yesterday
    • Analyst Skew said there is “positive market signal” and that there is “a lot of aggregate spot supply around $100k”

    Bitcoin came within touching distance of $100,000 on November 22 as the asset continues its bull run since the beginning of November.

    Bitcoin nears $100,000. Source: CoinMarketCap

    Data from CoinMarketCap shows Bitcoin hit a high of $99,500. The record comes after Bitcoin topped $98,000 yesterday, pushed along by the launch of ETF options earlier this week.

    The rally follows after Bitcoin dipped to $95,000 yesterday afternoon before rallying into the green.

    Taking to X, analyst Skew said: “Price did see a brief LTF dip before higher thereafter. Still seeing limit bids moving higher with underlying spot buyers ~ positive market signal,” adding:

    “A lot of aggregate spot supply around $100k. Price currently is chewing away at this supply, before this has preceded a pretty violent breakout.”

    Joe Constori, head of growth at Theya and institutional lead at the Bitcoin Layer, said on X that Bitcoin at $100,000 is going to happen.

    “Its properties have always destined it to be a multi-trillion dollar base layer monetary asset. It just took the price 15 years to catch up.”

    Market analyst Ali mentioned that “the TD Sequential presents a sell signal on the #Bitcoin $BTC 4-hour chart, anticipating a brief correction to $97,085,” adding:

    “A candlestick close above $100,470 will invalidate the bearish formation and potentially push #BTC to $102,656 or $104,343.”

    Pro-crypto

    The continued surge follows since Donald Trump won his re-election into the White House on November 5.

    Trump, now considered pro-crypto, made several promises regarding the crypto market during his election campaign, one of which is to make the US the “crypto capital of the world.”

    Earlier this week, it was reported that Trump’s transition team was considering its first-ever White House crypto office.

    If established, this position would serve as a liaison between the digital assets sector, Congress, and key regulatory agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

    At the time of publishing, Bitcoin is trading at $98,600.

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  • Bitcoin tops $98,000 as rally gains momentum

    Bitcoin tops $98,000 as rally gains momentum

    An image of stacked up bitcoins with trading chart
    • Bitcoin has jumped to $98,370, its highest-ever price as bulls target $100,000.
    • The flagship cryptocurrency has rallied higher since Donald Trump’s re-election on Nov. 5

    Bitcoin’s march towards $100,000 continued Thursday as the benchmark crypto asset broke past $98,000 for the first time ever.

    Having hit $97k earlier in the day, BTC showed no mercy to the bears as its price stormed to a record high of $98,370 on Coinbase. At the time of writing, the cryptocurrency traded higher by 5.5% in 24 hours, pushing the asset’s market cap to above $1.94 trillion.

    Analysts: “parabolic” phase begins after Bitcoin breaks $100k

    Market conditions, helped by the demand for spot Bitcoin ETFs and the just launched ETF options, are suggesting the digital asset’s value is poised for a major breakout above $100k. Analyst Ali Martinez shared the chart below suggesting a bull flag pattern breakout.

    Overall, Bitcoin price has jumped more than 30% in two weeks and by more than 46% in the past month. Notably, the world’s largest cryptocurrency has been on a tear since early November, when it began to rise as the US election neared.

    On Nov. 5, BTC broke above $69,000 amid projections for a Donald Trump win. The decisive results only fueled bulls further, with the president-elect’s pro-crypto stance adding to the optimism.

    In recent days, its Trump’s picks for his cabinet that have fueled fresh belief that the US crypto space is set for a complete flip from the last four years’ outlook.

    With interest in BTC just getting onto the mainstream stage, analysts are saying the big FOMO begins when Bitcoin breaks out above $100k.

    Read more: Donald Trump’s transition team considering first-ever White House crypto office

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  • Fundraising platform JustGiving accepts over 60 cryptocurrencies including Bitcoin, Ethereum

    Fundraising platform JustGiving accepts over 60 cryptocurrencies including Bitcoin, Ethereum

    • JustGiving now accepts over 60 cryptocurrencies for people to donate with
    • 94% of crypto users are Millennials and Generation Z
    • More than $2 billion has been donated to charitable causes over the past five years

    UK-based fundraising platform JustGiving is teaming up with The Giving Block, a digital asset company, to start accepting crypto donations.

    JustGiving now allows users to donate in more than 60 cryptocurrencies, including Bitcoin, Ethereum, Tether, and Doge, according to a report from UK Fundraising. The move comes as the crypto market is experiencing a surge in value, with Bitcoin recording a new all-time high of over $94,000 yesterday on CoinMarketCap.

    According to JustGiving’s website, over the past 24 years, the fundraising platform has raised $7.2 billion (£6 billion) and is trusted by thousands of charities worldwide, including the Alzheimer’s Society, the British Heart Foundation, Macmillan Cancer Support, and Mind.

    Pascale Harvie, President and General Manager of JustGiving, said:

    “In recent years there has been a surge in the use of cryptocurrencies and our decision to enable cryptocurrency donations is the latest demonstration of our commitment to forward-thinking innovation.”

    Tapping into a tech-savvy demographic is also key. According to JustGiving, 94% of crypto users are Millennials and Gen Z.

    Alex Wilson, co-founder of The Giving Block, said that “charities need to tap into this new donor demographic,” adding:

    “580 million people now use cryptocurrency around the world and the market is worth nearly $3 trillion. Our goal is to make accepting cryptocurrency donations just as easy as taking any other online donations.”

    In a 2024 Annual Report from The Giving Block, it noted that more than $2 billion has been donated to charitable causes over the past five years.

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