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  • MicroStrategy acquires 15,350 Bitcoin, now holds 439,000 BTC valued at over $45B

    MicroStrategy acquires 15,350 Bitcoin, now holds 439,000 BTC valued at over $45B

    • MicroStrategy bought its latest Bitcoin between December 9, 2024, and December 15, 2024
    • Last week, the company purchased 21,550 Bitcoin for $2.1 billion and the week before it bought 15,400 Bitcoin for $1.4 billion
    • The Bitcoin buying spree comes as MicroStrategy will be added to the Nasdaq-100 Index on December 23

    MicroStrategy has acquired an extra 15,350 Bitcoin worth around $1.5 billion in cash, pushing its total holdings to 439,000.

    In an 8-K filing to the US Securities and Exchange Commission (SEC), MicroStrategy, a major Bitcoin holder, bought the crypto asset between December 9, 2024, and December 15, 2024, at an average price of $100,386 per Bitcoin.

    With the latest Bitcoin addition, MicroStrategy and its subsidiaries now hold 439,000 Bitcoin, valued at $45 billion. In a post on X, Michael Saylor, MicroStrategy’s CEO, said the Bitcoin was bought for $27.1 billion or an average price of $61,725 per Bitcoin.

    Saylor also noted that MicroStrategy’s year-to-date Bitcoin Yield is 72.4% while its quarter-to-date Bitcoin Yield is 46.4%.

    This is the latest purchase from MicroStrategy. Last week, the company purchased a further 21,550 Bitcoin between December 2, 2024, and December 8, 2024, for around $2.1 billion at an average price of $98,783 per Bitcoin. This followed a purchase of 15,400 Bitcoin for $1.4 billion the week before.

    Joining the Nasdaq-100 Index

    The continued push to buy more Bitcoin comes as MicroStrategy will be added to the Nasdaq-100 Index on December 23.

    In an announcement on December 13 from Nasdaq, it said three companies will be added to its Index: Palantir Technologies Inc., MicroStrategy Incorporated, and Axon Enterprise, Inc.

    Following the news, crypto analyst Will Clemente wrote on X: “Now that MSTR is getting added to the Nasdaq, every large pension fund, sovereign wealth fund, and individual retirement account in the world is going to have Bitcoin exposure.”

    The news has also rallied MicroStrategy’s stock price, pushing it up 3%, according to CNBC.

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  • dtcpay to phase out BTC, ETH support amid services shift

    dtcpay to phase out BTC, ETH support amid services shift

    • dtcpay has announced that it will be shifting its payment services to stablecoins only effective 2025
    • The Singapore-based platform will phase out Bitcoin and Ethereum by the end of the year

    Singapore-based payment institution dtcpay will no longer be supporting Bitcoin and Ethereum as payment modes.

    The licensed payment platform said the move will be effective in 2025, according to a report from Fintech News. It only intends to support stablecoins and fiat currency payment modes.

    The move focuses more on the stability of stablecoins and fiat currency rather than the volatile nature of crypto. Business operators and consumers are also assured of a more secure payment mode and in line with the country’s regulations.

    dtcpay eyes stablecoins in services pivot

    In its announcement, dtcpay mentioned that there will be a paradigm shift come January 2025. Announcing its cancellation for accepting Bitcoin and Ethereum, it intends to accept stablecoins USDT, USDC, Worldwide USD (WUSD), and First Digital USD (FDUSD) among others.

    dtcpay’s decision comes amid an increased trajectory that has seen the regulated digital payments provider’s users lean towards stablecoins. The growth is what the company is looking to tap into, with digital payments seen as the new frontier in revolution that’s crypto.

    Stablecoins make a huge chunk of this, with a Chainalysis report for Q2, 2024 indicating that the asset-backed tokens accounted for an estimated $1 billion in payments.

    dtcpay’s strategic move is a strong indicator of the need for a stable and most reliable way of digital payment.

    The platform’s good record in innovation, progressive growth in the digital world and different accolades has seen it become a darling to businesses.

    In October 2024, the payment platform, and the only Asia-based company, was picked for the Mastercard Starter Path programme. It also became the first to launch a regulated POS in Singapore enabling business owners to accept crypto payments.

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  • Bitcoin breaks $87k; here’s what this analyst says about BTC price

    Bitcoin breaks $87k; here’s what this analyst says about BTC price

    • Bitcoin has hit a new high above $87,000 and could bounce past $100,000 amid bullish momentum.
    • If it happens, the bull market case is for a rally to $150k, an analyst says

    With Bitcoin rallying to a new all-time high above $87,000, the overall sentiment suggests it’s likely to continue higher. Although a breather could be due, analysts are suggesting this might just be a start of a major bull run for the benchmark crypto asset.

    Bitcoin hits $87k: What next?

    BTC rallied higher after breaching $84k amid MicroStrategy’s $2 billion worth of bitcoin purchase. The upward move now sees it trade above $87k. This is after the momentum carried from the past week, which saw Donald Trump become president-elect.

    According to crypto analyst Kaleo, the next stop for BTC could be $90k before a brief consolidation. However, this might offer the next upward bounce.

    Now, past performance is not an indicator of future gains, the market knows. Nonetheless, crypto analyst Kaleo says should Bitcoin price take a similar trajectory to its previous cycle, it could stall around $90k. This should however be only for a brief period before the upside momentum returns to push bulls beyond $100k.

    “When Bitcoin finally made a clean break above the previous cycle’s all time high in December of 2020, it ripped 22% higher without pulling back over the course of several days before it slowed down a bit,” the analyst posted on X. “It spent about [a] week consolidating [there] prior to beginning another 75% up only run over the course of the next few weeks,” he added.

     

    Per the chart the analyst shared, a bull market projection has Bitcoin price at $150k with a 75% breakout. Things may not play out as such, particularly with the market never moving in a straight line. Regardless, the long term view is super bullish for Bitcoin.

    “The fun in this bull market is just getting started,” the analyst opined.

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  • MicroStrategy buys 27,200 BTC worth over $2 billion; Bitcoin spikes above $84k

    MicroStrategy buys 27,200 BTC worth over $2 billion; Bitcoin spikes above $84k

    MicroStrategy, the business intelligence company founded by Michael Saylor that;s now the biggest corporate holder of Bitcoin (BTC), has added to its haul of the digital asset.

    On Monday, Saylor announced that the publicly-traded company had acquired another 27,200 BTC for over $2 billion. The news coincided with the surge in Bitcoin price – which reached a new all-time high above $84k.

    Earlier, the world’s largest and most popular cryptocurrency had traded to above $82k. This follows sentiment from the Donald Trump election victory, which continues to create a bullish buzz.

    MicroStrategy its $22 billion in BTC purchases

    The latest Bitcoin purchase for MicroStrategy comes after the company raised $2.03 billion. Earlier, MicroStrategy had revealed plans to raise $42 billion to buy more bitcoins – a scenario that has added to the overall bullish sentiment around the benchmark cryptocurrency.

    Saylor said his company spent these proceeds on buying an additional 27,200 BTC. With this acquisition, which was finalized at the average price of $74,463, MicroStrategy now has a total of 279,420 bitcoins.

    In total, the company has spent $11.9 billion to buy BTC at the average price of $42,692 per coin. At current price of $84,153, MicroStrategy’s Bitcoin holdings amount to over $23.5 billion.

    The BTC has achieved a yield of 7.3% quarter to date and 26.4% year-to-date.

    “Our MSTR treasury operations in the first 10 days of November resulted in a BTC Yield of 7.3%, a net benefit to our shareholders of ~18,410 BTC,” Saylor posted on X.

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  • Over 40,000 BTC leave exchanges as Bitcoin hits $82k

    Over 40,000 BTC leave exchanges as Bitcoin hits $82k

    • Bitcoin rose to a new all-time high above $82 on November 11, 2024
    • Over 40,000 Bitcoin valued at nearly $3.28 billion have left exchanges in the past week.

    The price of Bitcoin (BTC) has climbed to a new record high above $82,000 as the momentum that pushed cryptocurrencies higher continues to dictate sentiment.

    On Monday, BTC reached highs of $82,329 across major exchanges to put the flagship digital asset up more than 20% over the past week.

    The gains have also impacted altcoins, with notable performances for Ethereum that has crossed above $3,100 and Solana that’s eyeing a new year-to-date high. Cardano, BNB and meme coins Dogecoin and Shiba Inu are also trading higher.

    Over 40,000 BTC leave exchanges

    According to crypto analyst Ali Martinez, Bitcoin’s spike to the new ATH comes as the amount of BC leaving exchanges surges.

    In the past week, Ali noted via X, bullish BTC holders have withdrawn over 40,000 bitcoins from exchanges. This represents nearly $3.3 billion worth of Bitcoin exiting from exchanges. Exchange balances for Bitcoin have plummeted in the last seven days.

    Bitcoin exiting exchanges has increased this past week. Chart by Ali Martinez on X

    The bullish sentiment across the market could be driving this trend. Donald Trump’s US election victory and interest rate cuts are two major catalysts. Meanwhile, institutional demand amid spike in spot ETF inflows has also helped BTC past the $82k mark.

    What next for Bitcoin price?

    BTC price forecasts suggest a surge to $100k is possible before the end of the year. With this outlook in place, a huge number of traders taking a short term bearish view after recent gains have lost significant amounts of money.

    Per Coinglass data, the past 24 hours have seen the crypto market a staggering $270 million in liquidations.

    However, longs expecting an even sharper spike for Bitcoin have recorded a $361 million liquidations. In total, more than 208,800 traders have been liquidated in the past 24 hours, the total liquidations comes in at $632.57 million, with $124 million in Bitcoin shorts.

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  • Analysts anticipate a Bitcoin Dogs breakout as Bitcoin (BTC) teases new ATH

    Analysts anticipate a Bitcoin Dogs breakout as Bitcoin (BTC) teases new ATH

    Analysts anticipate a Bitcoin Dogs breakout as Bitcoin (BTC) teases new ATH
    • Bitcoin (BTC) surges past $73,000, nearing its all-time high with strong investor interest.
    • Bitcoin Dogs (0DOG), a new meme coin, could break out with its upcoming game launch.
    • Analysts predict growth for Bitcoin Dogs, benefiting from Bitcoin’s bullish momentum.

    The spotlight is back on Bitcoin (BTC), which recently surged past $73,000, drawing both investor attention and market analysis.

    In tandem with this bullish trend, Bitcoin Dogs (0DOG) is positioning itself as a significant player in the crypto ecosystem. With its unique offerings and upcoming game launch, analysts are beginning to speculate on the potential for a breakout in the Bitcoin Dogs token, making it one of the most promising projects to watch in the coming months.

    Bitcoin (BTC) surges toward new all-time highs

    Bitcoin’s recent trading session has been nothing short of dramatic, as its price soared to a high of $73,562, just shy of its all-time high of $73,737 set in March.

    This impressive rally began late Monday when BTC first crossed the $70,000 threshold, marking a five-month high.

    The surge attracted considerable interest from both retail and institutional investors, particularly in light of the growing confidence surrounding Bitcoin Exchange-Traded Funds (ETFs) launched earlier in the year. CoinShares reported a remarkable $1 billion in new investments flowing into Bitcoin-related funds last week, highlighting robust institutional faith in Bitcoin’s future.

    Interestingly, the cryptocurrency community’s reaction to this near-record price point was relatively muted compared to past market rallies. This subdued response could indicate a maturing market where investors are becoming accustomed to Bitcoin’s high-value trading range.

    Additionally, as the US presidential election approaches, Bitcoin’s performance has emerged as a critical focal point, especially with pro-crypto candidates gaining traction in prediction markets.

    Following its impressive rally, Bitcoin has retraced slightly, settling at $72,369.36 at press time. The market sentiment is however still bullish pointing to the potential of BTC registering a new ATH soon.

    Bitcoin Dogs (0DOG) expected to ride the bullish wave

    Amid Bitcoin’s ascendance, Bitcoin Dogs (0DOG), a new meme coin, is drawing attention for its unique approach within the cryptocurrency landscape.

    As the first-ever Initial Coin Offering (ICO) on the Bitcoin blockchain, Bitcoin Dogs raised $13.4 million and minted 900 million tokens—reflecting the estimated number of dogs on Earth. The project aims to blend the enthusiasm of dog lovers with the engaging world of blockchain technology.

    Despite experiencing a 9.7% decline over the past week, there are signs that the price of Bitcoin Dogs (0DOG), which currently sits at $0.008722, could be on the verge of a major break out.

    Upcoming catalysts for Bitcoin Dogs include the launch of its play-to-earn game, which is set to offer holders unique pathways, epic battles, and in-game rewards.

    This innovative game aligns with the growing interest in blockchain gaming and NFTs, positioning Bitcoin Dogs for potential breakout success. Furthermore, the NFT drop associated with the game could significantly enhance community engagement and token value.

    In addition, analysts note that Bitcoin Dogs is well-positioned to capitalize on several bullish trends, including Bitcoin’s resurgence, the rising popularity of meme coins, and the flourishing Telegram gaming market.

    With a focus on community-driven initiatives, Bitcoin Dogs combines the utility that gaming tokens on Bitcoin need with a playful nod to dog-themed meme culture. The project also features a comprehensive Dog Owners Manual, providing users with insights on managing their digital pets, thereby enhancing the user experience.

    With Bitcoin (BTC) teasing new all-time highs and Bitcoin Dogs (0DOG) gearing up for exciting developments, the coming months could see significant shifts in the cryptocurrency market. Investors and analysts alike will be closely watching these two assets as they navigate this promising yet volatile landscape.

    For more information about the Bitcoin Dogs project, visit their official website here.

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  • Japan’s Metaplanet buys $7M Bitcoin, now holds to $40.5M BTC

    Japan’s Metaplanet buys $7M Bitcoin, now holds to $40.5M BTC

    Japan’s Metaplanet buys $7M Bitcoin
    • Metaplanet boosts Bitcoin holdings to 639.5 BTC as of Oct. 7.
    • The company’s stock price has surged 11%, with a 544% year-to-date gain since May 2024.
    • It has so far acquired an additional $1.4M in BTC via options trading, recognizing 23.97 BTC as revenue.

    Japan-based investment firm Metaplanet on October 7 announced that it has made yet another significant acquisition of Bitcoin, boosting its holdings to a total of 639.5 BTC, valued at approximately $40.5 million.

    The company, which has garnered the nickname “Asia’s MicroStrategy” for its aggressive Bitcoin purchasing strategy, acquisition of an additional 108.78 BTC, worth roughly $7 million at the current Bitcoin price of $63,600.

    Metaplanet’s Bitcoin strategy has been nothing short of bold. Since May 2024, when it first adopted Bitcoin as its strategic treasury reserve asset, the firm has made regular purchases to strengthen its cryptocurrency portfolio.

    In total, Metaplanet has invested 6 billion Japanese yen into Bitcoin over the past few months. Its consistent buying behaviour has drawn comparisons to MicroStrategy, the American company known for its own large-scale Bitcoin acquisitions.

    This most recent purchase has led to a surge in Metaplanet’s stock price, which climbed more than 11% on October 7, reaching an intraday high of 1,047 Japanese yen (approximately $7). The company’s stock has more than tripled in value since the start of the year, with a 544% year-to-date gain, although it is still trading at a 66% discount from its all-time high in May 2024.

    In addition to direct Bitcoin purchases, Metaplanet has employed options strategies to increase its reserves. Last week, the company acquired Bitcoin worth $1.4 million through options trading, selling put options with a strike price of $62,000. These options, set to expire on December 27, 2024, generated a premium of 23.97 BTC, which the company recognized as revenue.

    Market analysts remain optimistic about Bitcoin’s trajectory, with predictions suggesting it could rise to $77,700 by the end of October. As Bitcoin continues its upward momentum, Metaplanet’s ongoing acquisition strategy could further solidify its position as a leading player in the cryptocurrency space.

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  • US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under SEC rules

    US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under SEC rules

    US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under SEC rules
    • US SEC Chair Gensler reaffirms Bitcoin (BTC) is not a security under current regulations.
    • SEC plans new regulations for DeFi and trading systems to protect investors.
    • Crypto firms, including Coinbase, push back against expanding regulatory scope.

    In recent statements, SEC Chairman Gary Gensler has firmly reiterated that Bitcoin is classified as a non-security under existing SEC regulations. His comments came during an interview on CNBC’s “Squawk Box.”

    Gensler emphasized the importance of regulatory clarity, insisting that while many firms have benefitted from the public’s growing interest in cryptocurrencies, they often resist the regulations designed to ensure market integrity.

    In the interview, Gensler noted that the SEC’s role is to foster trust in the market, stating, “Innovations do not develop in the long term unless they also build trust.” He referenced the significant losses and bankruptcies that have occurred in the crypto space, underscoring the necessity of having regulations in place to protect investors.

    Gensler’s remarks also follow the recent eToro settlement, which confirmed that Bitcoin (BTC), along with Bitcoin Cash (BCH) and Ethereum (ETH), are not considered securities.

    Despite Gensler’s reaffirmation regarding Bitcoin, he acknowledged the discontent among crypto firms concerning regulatory frameworks. He highlighted that many industry stakeholders argue against the existence of such regulations, which he attributes to their discomfort with the enforcement actions taken by the SEC.

    Gensler indicated that the SEC is working on new regulations for decentralized finance (DeFi), suggesting a potential shift in oversight for various trading platforms.

    SEC’s trading systems proposal

    Earlier Gary Gensler while testifying before the US House Financial Services Committee discussed the SEC’s ongoing proposal to mandate that alternative trading systems register as brokers. This proposal aims to close regulatory gaps among trading platforms, ensuring compliance with rules intended to prevent unfair trading practices.

    However, the proposed regulations have met significant push-back from digital-asset firms, including Coinbase, which argue that the definition of an exchange could inadvertently include DeFi platforms, complicating their compliance.

    As the SEC continues to navigate the complex landscape of cryptocurrency regulation, Gensler reiterated the agency’s commitment to fostering a transparent market.

    With no timeline set for final decisions on the trading systems proposal, the SEC remains open to considering applications from exchanges seeking to offer central clearing for the US Treasury market, which is projected to expand significantly under new rules.

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  • Bitcoin wallets dormant for 15 years suddenly move BTC

    Bitcoin wallets dormant for 15 years suddenly move BTC

    • Satoshi era bitcoin wallets dormant since 2009, have just moved 250 BTC to new wallet addresses.
    • The five wallets transfered BTC in batches of 50 coins each.
    • Bitcoin price traded around $63,500, having touched highs above $64,000 across major exchanges.

    Several Bitcoin (BTC) miner wallets that have been dormant for over 15 years suddenly woke up and have moved 250 BTC worth over $15 million.

    The so-called ‘Satoshi era’ wallets are miner addresses created in the years that Bitcoin creator Satoshi Nakamoto actively mined BTC. Such wallets date back to 2009 – five of which just transferred 50 bitcoin each to new addresses.

    On-chain transactions tracker Whale Alert highlighted each of the five 50 BTC wallet movements early Sept. 20. In total, five wallets had transferred coins worth $15.9 million to new wallets.

    Lookonchain shared a screenshot of Whale Alert’s posts about the dormant coins. In this case, each of the miner addresses received bitcoin as mining rewards in 2009. Not one of these wallets transacted since that first transaction.

    Notably, none of the new wallets had moved the coins to a crypto exchange as of writing.

    In March 2024, a Bitcoin wallet dormant for over 12 years, suddenly woke up to move 500 BTC. Another wallet dormant for over 10 years, suddenly activated in April 2023.

    Bitcoin price

    The movement by these ‘Satoshi era’ BTC wallets come as Bitcoin price recovered to above $64,000 amid market reaction to this week’s Federal Reserve interest rate cut. The benchmarket cryptocurrency has over the past few months struggled to break higher – with a major dip to below $50k seen on August 5, 2024.

    Commenting on price outlook, crypto analyst Ali Martinez says its likely traders may want to take profits at current prices.

    BTC price tounched highs of $64,140 on Coinbase early Friday, September 20, 2024. However, it changed hands around $63,513 at the time of writing.

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  • Bitcoin (BTC) price targets $63k as crypto market awakens after Fed rate cut

    Bitcoin (BTC) price targets $63k as crypto market awakens after Fed rate cut

    Bitcoin (BTC) price breaks above $62K as crypto market awakens after Fed rate cut
    • Bitcoin has broken past $62K post-Fed rate cut; next resistance at $63K.
    • Ethereum and Solana have also surged, reflecting a broader crypto market rally.
    • Caution remains due to economic uncertainties and potential regulatory issues.

    Bitcoin (BTC) price has surged past $62,000 following the US Federal Reserve’s decision to cut interest rates by 50 basis points.

    The move by the Fed, aimed at bolstering economic growth and mitigating recession risks, has ignited a rally across digital assets. The monetary policy adjustment has not only energized Bitcoin but also lifted a broad range of altcoins and risk assets.

    Next Bitcoin (BTC) price resistance level at $63k

    Currently trading around $62,096, Bitcoin’s price has demonstrated a solid 24-hour gain of 2.29% and a more impressive 7-day increase of 6.20%.

    Most notably, the price breach above the $62,000 mark represents a crucial psychological milestone for Bitcoin, following a period of consolidation near $60,000.

    Technical analysis highlights that Bitcoin’s next significant resistance level is positioned at $63,000, with the potential for further gains if this barrier is surpassed. The upper boundary of Bitcoin’s Bollinger Bands indicates heightened volatility, suggesting that while a short-term profit-taking phase may occur, the overall trend remains strongly bullish.

    Support is firmly established at around $60,100, acting as a critical floor that has been repeatedly tested and held firm.

    Investor sentiment towards Bitcoin is largely positive, with increased trading volumes reflecting growing institutional interest.

    As Bitcoin’s (BTC) price continues to climb, it benefits from a broader narrative of cryptocurrencies serving as a hedge against traditional market volatility and inflation fears, which have been exacerbated by the Fed’s dovish stance.

    Ethereum and Solana lead as altcoins mirror Bitcoin’s surge

    The rate cut by the US Federal Reserve has not only impacted Bitcoin price but has also spurred a broader rally in the cryptocurrency market, lifting major altcoins alongside Bitcoin (BTC).

    Ethereum (ETH), for instance, has surged past $2,400, marking a 24-hour increase of 4.94% and a 7-day rise of 2.97%. Ethereum’s price reached $2,430 before settling slightly, mirroring Bitcoin’s bullish trend. Technical indicators show Ethereum facing immediate resistance at $2,430, with potential for further gains if it breaks above this level.

    Solana (SOL) has also seen significant price movements, surging by 6.03% to reach $138.65. This gain underscores renewed confidence in Solana’s ecosystem and its applications in decentralized finance (DeFi) and NFTs.

    Other altcoins, such as Ripple (XRP) and Shiba Inu (SHIB), have also experienced notable increases, with XRP rising by 1.20% to $0.59 and SHIB climbing 7.85% to $0.00001427.

    Analysts remain cautious

    Despite the overall positive sentiment, market participants remain cautious. Mixed reactions and concerns about the sustainability of the rally are prevalent. Analysts suggest that while the rate cut has provided a significant short-term boost, the broader economic uncertainties and potential regulatory challenges could impact future performance.

    In particular, Presto Research notes that the market remains divided, highlighting the need for relief from growth concerns to maintain upward momentum.

    Amid the mixed market outlook, the coming months will be critical in determining whether the current Bitcoin (BTC) price rally can sustain momentum and push digital assets to new highs.

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