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  • Coinbase and MicroStrategy climb as Bitcoin reclaims $59k

    Coinbase and MicroStrategy climb as Bitcoin reclaims $59k

    • Coinbase and MicroStrategy stocks rose 6% and 7% respectively as Bitcoin surged to above $59,000.
    • Analysts say crypto markets may be choppy amid potential bearish catalysts.

    Coinbase and MicroStrategy stocks have climbed more than 6% each on Aug. 8 (as of 2 pm ET), gains that come as the price of Bitcoin broke above $59,000.

    The Coinbase (COIN) stock traded around $192.30 while MicroStrategy’s MSTR hovered near $134. 23.

    Read more: Michael Saylor’s bet on Bitcoin paying off, his BTC holdings now valued at $1B

    Bitcoin’s surge sees it extend recent momentum since reclaiming support above $50,000. According to data on CoinGecko, the flagship cryptocurrency is up 7% in the past 24 hours. Losses over the past week have shrunk to about 5%.

    Amid this, crypto analyst Ali Martinez says long-term holders have aggressively bought the recent dip.

    Short term outlook

    This positive movement for BTC comes as XRP led the crypto market higher after the latest court ruling in the Ripple vs. SEC case. XRP traded to above $0.63 to help Stellar (XLM) and other altcoins higher. Ethereum also breached the $2,600 mark.

    However, XRP is poised at a key resistance zone and Ethereum may yet have to battle bearish pressure from potential selling.

    “There is a potential cap on the topside in the near term with Jump Trading continuing its ETH liquidations (21,394 $wstETH ~$63.6M left) and Plus Token Ponzi 2 ETH wallets moving a total of 25,757 ETH ($63.1M) in the last 30 hours,” analysts at QCP Capital wrote.

    The broader market is also still largely tinged with caution as analysts point to jitters around the global macro environment and geopolitical tensions in the Middle East. In this case, crypto could still see a retreat amid a choppy month or so.

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  • Michael Saylor’s bet on Bitcoin paying off, his BTC holdings now valued at $1B

    Michael Saylor’s bet on Bitcoin paying off, his BTC holdings now valued at $1B

    Michael Saylor’s bet on Bitcoin paying off, his BTC holdings now valued at $1B
    • Michael Saylor personally holds $1 billion in Bitcoin, owning 17,732 BTC.
    • MicroStrategy holds 226,500 BTC, valued at over $12 billion, with a $37,000 average cost.
    • Saylor views Bitcoin as a superior, secure asset and advocates continuous investment.

    In a recent interview on Bloomberg Television, Michael Saylor, the Chairman of MicroStrategy, revealed he holds Bitcoin worth approximately $1 billion.

    This makes him one of the most prominent BTC holders in the world, joining the ranks of figures such as Binance Founder Changpeng Zhao, the Winklevoss Twins, and Satoshi Nakamoto.

    Michael Saylor has not sold any of his BTC holdings

    Saylor’s endorsement of Bitcoin as a capital investment asset is both passionate and unwavering. In his discussion with Bloomberg’s Sonali Basak on August 7, Saylor confirmed that he possesses a significant personal stack of Bitcoin, which he first disclosed four years ago.

    At that time, he announced owning 17,732 BTC, a figure that has only grown since.

    Despite the significant appreciation of Bitcoin’s value over the years, Saylor has not sold any of his holdings, continuously acquiring more of the cryptocurrency.

    Seeing Bitcoin as a generational wealth asset

    For Saylor, Bitcoin represents more than just a speculative investment. He describes it as a revolutionary financial tool, superior to both physical and traditional financial capital.

    According to Saylor, Bitcoin is an unparalleled asset that offers generational wealth potential for individuals, families, corporations, and even countries. His commitment to Bitcoin is rooted in its perceived stability and security, as well as its ability to preserve value over time.

    During the interview, Saylor emphasized his belief that “there is never a bad time to buy Bitcoin.” He likened Bitcoin to “cyber Manhattan,” suggesting that investing in it is akin to acquiring prime real estate in the most coveted location.

    This analogy highlights his conviction that Bitcoin, as a scarce and desirable asset, will always hold significant value, regardless of market fluctuations.

    MicroStrategy has accumulated 226,500 BTC under Saylor’s leadership

    Saylor’s investment philosophy extends beyond his personal holdings to his leadership of MicroStrategy. Under his guidance, the company has amassed a substantial Bitcoin reserve, totalling 226,500 BTC, valued at over $12 billion.

    This massive investment represents a significant portion of the company’s balance sheet. MicroStrategy’s average cost per Bitcoin stands at approximately $37,000, and the company is set to execute a 10-to-1 stock split, which could further impact its financial structure and stock performance.

    In addition to discussing his personal holdings, Saylor also addressed Bitcoin’s broader implications for corporate finance. He asserts that Bitcoin can “fix” corporate balance sheets by providing a secure and stable asset for long-term investment.

    Saylor points to Bitcoin’s immense computational and electrical power, which he argues makes it “nation state resistant” and “nuclear-hardened.” He proudly notes that the Bitcoin network consumes more electricity than the United States Navy, a testament to its robust security and resilience.

    However, Saylor’s enthusiasm for Bitcoin is not just limited to its investment potential. He views cryptocurrency as a groundbreaking technological advancement, with the power to reshape financial systems globally.

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  • Bitcoin rebounds after massive sell-off; BRETT and Poodlana shine

    Bitcoin rebounds after massive sell-off; BRETT and Poodlana shine

    • Bitcoin trades above $55k after a sharp sell-off that saw it break below $50k.
    • Brett (BRETT) meme coin is leading top gainers among the top 100 coins by market cap.
    • Poodlana has surpassed $5 million in presale with 10 days to go before it lists on DEX.

    Several altcoins are green as the price of Bitcoin rebounds from the lows reached on Monday amid the staggering sell-off that engulfed crypto and stocks.

    As Bitcoin (BTC) price looks to extend its bounce above $55k, meme coin Brett (BRETT) is leading the altcoin flip with over 30% gains in 24 hours. Meanwhile, traders eyeing the new Solana-based meme coin Poodlana (POODL) have increased the presale tempo as the project surpasses the $5 million mark.

    Bitcoin trades above $55k as market eyes recovery

    Matt Hougan, the chief investment officer of Bitwise, is bullish despite the crypto crash.

    He in a post on X on Monday that the meltdown that eviscerated the crypto market on Aug. 5, 2024 was comparable to the crash that hit global capital markets in mid-March 2020.

    As happened then, Bitcoin led cryptocurrencies lower amid the chaotic reaction to the Covid pandemic. But the market bounced, and Hougan believes the current downturn could offer such an opportunity.

    Bitcoin has recovered some of the losses seen when it dropped to below $50k, and could benefit from an explosive bounce if the declines represented a fresh bottom.

    BRETT leads market gainers with 30% spike in 24 hours

    The crypto market has returned to above $2 trillion in market cap as several altcoins post notable gains in the past 24 hours. Although Ethereum (ETH), Solana (SOL) and BNB (BNB) have registered decent gains during the early Asian hours, the biggest gainer at the time of writing is Base meme coin Brett (BRETT).

    According to CoinMarketCap data, BRETT has seen a 33% jump in its price to reach a 24-high of $0.094. Brett’s trading volume has increased 5% to over $93.8 million. While BRETT is outpacing Bittensor (TAO), AIOZ Network (AIOZ), Ondo Finance (ONDO), and Akash Network (AKT) at the time of writing, its price remains in the red over the past week and month.

    BRETT price is down 31% over the past week, while its losses over the past month are around 23%.

    Poodlana presale: Traders scoop POODL

    Poodlana (POODL) is attracting huge attention despite the current market outlook. Having launched its presale on July 17, the new Solana meme coin has seen its total raise surpass $5 million in a record 20 days.

    Solana’s newest meme coin describes itself as the project ‘where crypto meets couture.’ It’s inspired by the poodle, a dog breed that’s driving the fashion world wild, with top global celebrities and elites keen on making a statement with poodle fashion.

    This merging of fashion and crypto to drive the new era of dog-themed market tokens has found its greatest traction in Asia, with China, Japan and Korea leading the new crypto wave. Poodlana’s presale success suggests its launch could be an explosive debut in the market.

    When is the Poodlana DEX launch?

    Because Poodlana offered a 30-day presale, the project expects to list its token on Aug. 16. The presle price started at $0.06 and will hit $0.0539 in the last presale stage, before hitting the DEX within an hour of the token sale closing.

    That means traders looking to position with a new SOL meme coin at discounted prices have 10 days only to buy POODL. Details also show Poodlana will launch with 100% of its presale tokens unlocked.

    Currently, POODL is priced at $0.0416, with the next stage set to see it rise to $0.0458.

    You can discover more about this new meme coin by joining the community here.

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  • Bitcoin tumbles, tests $49,000, amid major crypto selloff

    Bitcoin tumbles, tests $49,000, amid major crypto selloff

    Bitcoin tumbles, tests $49,000, amid major crypto selloff
    • Bitcoin briefly tests $49k before rebounding to $51k amid a $270 billion crypto market selloff.
    • Concerns over the US recession and Japan’s rate hike trigger market turmoil.
    • FBI warns of rising crypto scams during increased market volatility.

    The cryptocurrency market has experienced a significant downturn today, shedding approximately $270 billion in value over 24 hours according to CoinGecko data. Leading this decline, Bitcoin plummeted by almost 20%, reaching $49,121, its lowest level since February at $53,091.

    Bitcoin price chart

    Ether also suffered a substantial drop of 21%, falling to $2,300, erasing its gains for the year. Other cryptocurrencies like Binance’s BNB and Solana have also suffered significant losses.

    Bank of Japa hikes its benchmark interest rate

    This dramatic downturn in the crypto market coincided with a broader selloff in equities, particularly in Asia-Pacific markets, exacerbated by Japan’s Nikkei 225 falling by as much as 7%.

    The Bank of Japan’s decision to hike its benchmark interest rate to the highest level in 16 years triggered this selloff, sending shockwaves through financial markets.

    The US Nasdaq also slid into correction territory, marking its worst three-week stretch since September 2022, further contributing to the decline in risky assets, including cryptocurrencies.

    The market’s reaction was influenced by Japan’s monetary tightening and the US Federal Reserve’s recent actions.

    Although the Fed opted to hold its benchmark rate steady, it did not indicate a rate cut in September, which many market experts had anticipated.

    This uncertainty added to the market’s anxiety, causing traders to price in a 100% chance of lower US base rates in September.

    Concerns of a potential US recession

    The selloff reflects growing concerns about a potential US recession, triggered by softer economic data and rising geopolitical tensions.

    Tony Sycamore, a market analyst at IG, highlighted that Bitcoin and other cryptocurrencies are risk assets and are highly susceptible to market volatility. He noted that Bitcoin is currently testing crucial support levels and must hold the $53,000 mark to prevent further declines.

    However, at press time Bitcoin was trading at $51,657, well below this support level, despite making a comeback from around $49k.

    FBI issues warning

    The cryptocurrency market’s volatility has also heightened security concerns. The FBI has issued a warning about scammers exploiting the market crash to steal users’ funds.

    The FBI advised users to be cautious of unsolicited messages or calls indicating account problems and urged them to verify any issues through official channels. The agency’s warning comes amid a significant increase in crypto-related fraud and hacking incidents.

    In the first half of 2024, hackers stole nearly $1.4 billion worth of crypto, more than double the amount stolen in the same period in 2023.

    This increase is attributed to the rising value of various tokens, including Bitcoin, Ethereum, and Solana. Ari Redbord, global head of policy at TRM Labs, noted that while the security of the cryptocurrency ecosystem has not fundamentally changed, the higher value of tokens has made them more attractive targets for criminals.

    As Bitcoin and other cryptocurrencies navigate these turbulent times, investors and users should remain vigilant about market conditions and potential security threats.

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  • Bitcoin network difficulty reaches record high amid price volatility

    Bitcoin network difficulty reaches record high amid price volatility

    Bitcoin network difficulty reaches record high amid price volatility
    • Bitcoin’s network difficulty hits a record high of 90.67 trillion as of August 2, 2024.
    • Bitcoin’s hash rate reached a record 677 EH/s on July 27th, boosting network security.
    • Bitcoin’s RSI at 44 suggests potentially oversold conditions; the price may test $58,000

    Bitcoin has set a new record for network difficulty, reaching 90.67 trillion on August 2, 2024 according to data on CoinWarz.

    This milestone represents a significant rebound following three months of declining difficulty, signalling renewed confidence among miners in the cryptocurrency’s network.

    The increased difficulty implies that mining new Bitcoin blocks now requires more computational power, potentially driving up operational costs and influencing Bitcoin’s future supply and pricing dynamics.

    Bitcoin’s hashrate also hit an all-time high

    On July 27th, Bitcoin’s hashrate surged to a record 677 EH/s, reflecting a robust and secure network infrastructure. This peak suggests intensified competition among miners and strengthens the network’s resilience against potential security threats.

    A high hashrate not only indicates increased mining activity but also has the potential to positively impact Bitcoin’s price by boosting investor confidence.

    BTC price under increased bear pressure

    Currently, Bitcoin is trading at $63,103.42, showing a 0.17% increase over the past 24 hours. The cryptocurrency has been fluctuating between $62,248 and $65,593, suggesting a mild recovery trajectory despite recent volatility.

    If this trend continues, Bitcoin may avoid the $62,000 resistance level, potentially paving the way for new highs.

    However, the Relative Strength Index (RSI) for Bitcoin is at 44.64, indicating that the cryptocurrency is approaching oversold conditions.

    Bitcoin price

    A declining RSI points to diminishing bullish momentum, and if bearish forces intensify, Bitcoin might test its next support level at $58,000. Further declines could follow if market pressure persists.

    Overall, Bitcoin’s rising network difficulty and hashrate highlight a strengthened and competitive mining environment. These factors are essential for evaluating the network’s health and security as Bitcoin navigates through ongoing price volatility.

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  • Hong Kong’s largest online broker Futu Securities launches Bitcoin and Ethereum trading

    Hong Kong’s largest online broker Futu Securities launches Bitcoin and Ethereum trading

    Futu Securities launches Bitcoin and Ether trading
    • Futu Securities launches Bitcoin and Ethereum trading in Hong Kong with zero fees.
    • New users can receive incentives like Bitcoin or shares of Alibaba and Nvidia.
    • Futu seeks a crypto exchange license for PantherTrade amid Hong Kong’s crypto hurdles.

    Futu Securities International, Hong Kong’s largest online broker, has introduced retail cryptocurrency trading in the city, marking a significant advancement in its financial services.

    The brokerage firm, known for its extensive reach and innovative offerings, now allows residents to trade Bitcoin and Ethereum on its platform. This initiative comes after a partnership with HashKey Exchange, one of only two licensed cryptocurrency exchanges in Hong Kong.

    Bonuses and waived crypto trading fees

    The launch comes with enticing bonuses. New account holders who deposit HK$10,000 (approximately $1,280) for 60 days can receive either HK$600 worth of Bitcoin, a HK$400 supermarket voucher, or a share of Alibaba.

    Those who deposit HK$80,000 are eligible for HK$1,000 in Bitcoin or a share of Nvidia, whose stock has surged by about 130% this year.

    Additionally, Futu has waived commission fees for crypto trading starting August 1st, enhancing the appeal of their new service.

    Futu looking for a crypto exchange license

    Futu is also pursuing a cryptocurrency exchange license for its new platform, PantherTrade, which currently operates under a ‘deemed to be licensed’ status.

    PantherTrade is among 11 platforms in Hong Kong awaiting full approval from the Securities and Futures Commission (SFC).

    Hong Kong crypto industry challenges

    Despite these advancements, Hong Kong’s aspiration to become a global crypto hub faces hurdles. The city has experienced the exit of major global trading platforms and low trading volumes for crypto ETFs.

    Increased fraudulent activities, such as a recent scam involving counterfeit currency, have further complicated the situation.

    In response, Hong Kong authorities are enhancing their regulatory measures and law enforcement capabilities to address these issues and boost investor confidence.

    As Futu Securities deepens its presence in the cryptocurrency market, the success of its initiative will depend on balancing innovation with stringent oversight to ensure a secure trading environment.

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  • Bitcoin falls to $62k as crypto mirrors stocks crash

    Bitcoin falls to $62k as crypto mirrors stocks crash

    • Bitcoin price dropped to its lowest level since mid-July with a dip to near $62k on August 1.
    • Stocks also plummeted as investors reacted to latest economic data and geopolitical tensions in the Middle East.

    Bitcoin price crashed 10% to trade to near $62k on Thursday as August began on a painful footing for cryptocurrencies and stocks.

    On August 1, the global cryptocurrency market cap fell to $2.3 trillion amid an overall 5.7% dump. BTC fell to lows of $62,300 across major crypto exchanges. The declines also hit Ethereum, which traded to lows of $3k and Solana that retreated sharply to touch $160.

    XRP, Dogecoin and Pepe also experienced sharp declines.

    Why did Bitcoin, crypto prices fall today?

    Losses across the crypto market came as the stock market nosedived, with the Dow Jones Industrial Average shedding more than 600 points and the S&P 500 falling 1.5%. According to CNBC, the bloodbath across stocks follows fresh investor jitters around possible economic contraction on weak data released on Thursday.

    Markets’ reaction also follows Wednesday’s Federal Reserve FOMC meeting, although analysts say the market has fully priced in a September cut. Geopolitical tensions in the Middle East was also on investors’ minds.

    What next for BTC, crypto?

    Commenting on the overall outlook ahead of the sharp sell-off, analysts at Singapore-based firm QCP Capital noted:

    “Crypto experienced a broad sell-off overnight and into this morning. The market remains on edge as traders pay close attention to daily ETH ETF outflows and further supply pressures from Mt Gox and US government.”

    According to QCP, the long term picture remains bullish for Bitcoin. Key catalysts could be the upcoming US election and direction of the quest for a sovereign Bitcoin reserve for the US.

    “The establishment of a U.S. or sovereign “put” on BTC prices may have significant implications, potentially making accumulation on dips a strategic investment approach,” QCP Capital added in the note posted on Telegram.

    BTC traded around $63,007 at 2:40 pm ET on Thursday, up from intraday lows.

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  • Whales accumulate more Bitcoin after latest pullback

    Whales accumulate more Bitcoin after latest pullback

    • Whales scoop Bitcoin as pullback dents bulls’ momentum
    • Bitcoin price touched lows of $65,911 as US government transferred its Silk Road BTC

    Bitcoin pulled back from its intraday highs around $70k on Monday to wipe gains seen after former US President Donald Trump highlighted the recently concluded Bitcoin 2024 conference.

    But the upside move built around Trump’s speech faded abruptly after the US government moved $2 billion in BTC from the Silk Road. The news spooked investors, crashing the crypto market.

    The price of Bitcoin fell more than 4% to lows of $65, 911 across major crypto exchanges, pushing into the negative territory on the weekly chart and cutting 30-day gains to just 8.8% at the time of writing.

    Gemini co-founder Tyler Winklevoss, commenting on the BTC transfer, noted that it came only two days after Trump “pledged to never sell any of the US government’s bitcoin.” It’s a view that many across the crypto community hold, with the move seen as a continuation of the anti-crypto stance from the Biden-Harris Administration.

    Whales accumulating Bitcoin

    While BTC hovers below the $67k level, large investors are using the low prices as an opportunity to add to their portfolios. These whales have aggressively scooped Bitcoin since Monday’s dip, market intelligence account Lookonchain shared on X.

    One such whale, “12QVsf”, reportedly withdrew 4,500 BTC worth over $302 million from Binance. The whale has also been linked to three other wallets that moved 1,400 BTC worth $94 million from crypto exchange Bitfinex on Tuesday morning.

    The wallets also withdrew a total of 2,510 BTCworth over $163 million from Bitfinex on June 20.

    On-chain insights platform Spot On Chain also highlighted this whale accumulation.

    Bitcoin reached a peak of $73k in March and analysts are bullish the market will see a new bull run that could take BTC to above $100k in coming months.

    The price of Bitcoin hovered around $66,527 at the time of writing.

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  • Cryptocurrencies to watch in August: Poodlana, Bitcoin, BOOK OF MEME (BOME)

    Cryptocurrencies to watch in August: Poodlana, Bitcoin, BOOK OF MEME (BOME)

    Cryptocurrencies to watch in August: Poodlana, Bitcoin, BOOK OF MEME (BOME)
    • Poodlana’s presale surges to $3.5M, with price set to rise further.
    • Bitcoin hits $69,000, boosted by Trump’s pro-crypto remarks.
    • BOOK OF MEME rises 20%, with strong technical patterns and market interest.

    As August approaches, the cryptocurrency market continues to evolve with exciting developments and noteworthy trends. Three cryptocurrencies stand out for their potential to capture significant attention and drive market momentum: Poodlana (POODL), Bitcoin (BTC), and BOOK OF MEME (BOME).

    Each of these assets is making waves in its own way, whether through innovative presales, significant price rallies, or emerging market trends.

    Here’s why Poodlana, Bitcoin, and BOOK OF MEME (BOME) are the ones to watch as we move deeper into August.

    1. Poodlana: a new Solana meme coin making waves in presale

    Poodlana (POODL) is quickly gaining traction in the crypto space, particularly within the meme coin sector. Launched on July 17, 2024, Poodlana’s presale has already hit an impressive $3.5 million in under two weeks.

    This surge in interest highlights the growing excitement around this new entrant in the market.

    The inspiration behind Poodlana is equally compelling. The cryptocurrency draws from the allure of the poodle, one of Asia’s top dog breeds, blending fashion-forward appeal with the meme coin trend.

    This combination is resonating with both investors and enthusiasts, contributing to its rapid rise.

    With just 17 days left in the presale, the token is set to list on its first decentralized exchange (DEX) on August 16.

    The presale price is designed to rise after every 72 hours. The price at press time was $0.0335 and was expected to rise to $0.0375 in the next presale stage.

    It is projected to list on crypto exchanges $0.06, offering early buyers a chance to capitalize on a potentially lucrative opportunity.

    Poodlana’s tokenomics are also noteworthy. With a total supply of 1 billion tokens, 50% is available during the presale, and 100% will be unlocked after the ICO sale.

    The token’s immediate listing on a DEX post-presale is designed to eliminate uncertainties and could drive significant price movement as the project transitions from presale to public trading.

    2. Bitcoin: seeing increased activity after the Bitcoin 2024 Conference

    Bitcoin (BTC) remains a cornerstone of the cryptocurrency market, and its recent performance underscores its continued relevance and influence.

    In the past 24 hours, Bitcoin price has surged by over 3%, breaking past the $69,000 level. This price increase reflects a broader bullish trend in the market, which is further fueled by recent events.

    Former President Donald Trump’s pro-crypto speech at the Bitcoin Conference has been a significant driver of Bitcoin’s recent gains.

    Trump pledged to prevent federal Bitcoin sales if re-elected and to make the US a global leader in cryptocurrency. His remarks have resonated with the crypto community, contributing to Bitcoin’s recovery and pushing it closer to the $70,000 mark after trading as low as $63,000 in the past week.

    The rally has also positively impacted other Bitcoin-related tokens. For instance, Bitcoin Cash (BCH) and Bitcoin SV (BSV) saw substantial gains of over 14% on Monday. BSV, in particular, has experienced a dramatic 16% jump over the last day, indicating a strong recovery despite being down about 45% year-to-date.

    With Bitcoin’s influence permeating the market and its price nearing $70,000, it remains a key asset to watch in August.

    3. BOOK OF MEME (BOME): another Solana-based meme coin that’s rising

    BOOK OF MEME (BOME) is rapidly emerging as a standout within the Solana ecosystem. Recent developments highlight a significant bullish trend for this meme coin. BOME surged 20% to $0.0105, driven by a combination of technical patterns and broader market movements.

    The token’s impressive rally is reinforced by a golden cross pattern, where the 50-day Exponential Moving Average (EMA) crosses above the 200-day EMA, signaling strong bullish momentum.

    Additionally, BOME has shown resilience by rebounding from early July’s drop. After retesting the $0.0065 support level, the token managed to break through key resistance at $0.0095, climbing to $0.01065.

    The Relative Strength Index (RSI) also broke bearish divergence, further supporting the positive outlook.

    Despite this, traders should remain cautious, as the RSI’s entry into the overbought region and potential volatility from the upcoming Federal Open Market Committee (FOMC) meeting could influence price movements.

    The growing interest in BOME is also evident from a 74% increase in futures open interest. This indicates heightened market interest but also suggests potential for increased volatility and subsequent corrections.

    The presence of an inverse head and shoulders pattern on the daily chart suggests a possible 41% surge to $0.013, making BOME a key cryptocurrency to monitor closely in August.

    Conclusion

    While Poodlana (POODL), BOOK OF MEME (BOME), and Bitcoin each present compelling bullish indicators for August, Poodlana stands out as the most promising choice.

    With its presale currently underway, Poodlana offers a clear price increment path leading up to its August 16 DEX listing, providing a more predictable investment opportunity.

    In contrast, Bitcoin and BOOK OF MEME face market volatility that could lead to significant price swings. For those seeking a more structured and potentially lucrative investment, Poodlana’s presale phase offers a unique and advantageous position.

    Nevertheless, it is always important to do your due diligence before making any crypto investment due to the volatile nature of the crypto market.

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  • Cantor Fitzgerald to launch $2 billion Bitcoin financing business

    Cantor Fitzgerald to launch $2 billion Bitcoin financing business

    • Cantor Fitzgerald is looking to launch a Bitcoin financing business with an initial capital of $2 billion.
    • The financing services giant’s CEO announced the plans at Bitcoin 2024.
    • Cantor Fitzgerald will partner with top Bitcoin custody pltforms to offer leverage to investors that hold BTC.

    Cantor Fitzgerald, a New York-based global financial services company, will invest an initial $2 billion in a new Bitcoin financing business, the firm’s CEO Howard Lutnick announced at Bitcoin 2024.

    The company confirmed the plans via a press release.

    Cantor Fitzgerald eyes BTC financing business

    According to the Cantor Fitzgerald CEO and per details in the news release, the new business venture will offer leverage to investors holding Bitcoin. The firm will invest more into the financing platform after the initial $2 billion splash.

    “We are excited to help unlock Bitcoin’s full potential and continue bridging the gap between traditional finance and digital assets,” Lutnick said in a statement.

    In his comments at Bitcoin 2024, Cantor Fitzgerald exec said his firm was bringing the flagship digital asset to the global financial markets. The company is ready to work with leading custodians in the market, he added.

    Lutnick also revealed that Cantor Fitzgerald owns Bitcoin and that he personally also holds the benchmark crypto asset.

    “My view is Bitcoin, like gold, should be free to trade everywhere in the world and as the largest wholesaler in the world we are going to do everything in our power to make it so,” he said at Bitcoin 2024.

    Cantor Fitzgerald launched in 1945 and has grown into one of the world’s leading financial services providers.

    The company offers access to services such as investment banking, equity research, capital markets, asset management and prime brokerage among others.

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