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  • Strategy plans to offer five million shares with new preferred stock to purchase additional Bitcoin

    Strategy plans to offer five million shares with new preferred stock to purchase additional Bitcoin

    Coinbase will delist Wrapped Bitcoin (WBTC) on December 19, 2024

    • The shares will accumulate cumulative dividends at a fixed rate of 10% each year
    • Strategy said that dividend payments will begin paying out on June 30, 2025
    • To date, Strategy holds under 500k Bitcoin, valued at over $40 billion

    Strategy is planning to offer five million shares of the company’s Series A perpetual strife preferred stock, $STRF, as it works on acquiring more Bitcoin.

    In an announcement, Michael Saylor’s Strategy said it intends to use the proceeds for “general corporate purposes,” including the “acquisition of Bitcoin.” However, it noted that this was “subject to market, and other conditions.”

    According to the company, the shares will accumulate cumulative dividends at a fixed rate of 10% per year. Dividends will be paid out beginning on June 30, 2025 “out of funds legally available for their payment,” Strategy said.

    Raising funds for Bitcoin

    The news comes as Strategy announced earlier this month that it’s planning to issue and sell shares of up to $21 billion in its at-the-market (ATM) program.

    Through selling shares of its 8.00% Series A perpetual strike preferred stock, $STRK, Strategy said the additional capital will be used for general corporate operations, including the purchase of more Bitcoin.

    The latest news also follows a recent Bitcoin purchase Strategy made in an announcement yesterday. In a post on X, Saylor said it had acquired 130 Bitcoin for $10.7 million at an average price of $82,981 per Bitcoin.

    To date, Strategy now holds 499,226 Bitcoin, valued at $40.92 billion, according to SaylorTracker.com.

    Peter Schiff, a long-time opponent of Bitcoin, commented on Saylor’s tweet, saying: “Is that all you bought?  Seems like you are running out of fire power.”

    Crypto prices decline

    News of Strategy’s recent Bitcoin purchase and its share offering comes as crypto prices across the market have seen a sharp decline.

    At the time of publishing, Bitcoin is trading around $81,000, a substantial drop from its all-time high of $109,000 reached in January ahead of US President Donald Trump’s inauguration.

    Market conditions and geopolitical issues continue to impact prices despite Trump signing an executive order in March to create a Strategic Bitcoin Reserve.

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  • Crypto market sees over $230 million in liquidations

    Crypto market sees over $230 million in liquidations

    Buy the dip

    The crypto market continues to struggle with downward pressure, with over $230 million in liquidations recorded in a single day.

    Per data from Coinglass, total liquidations were up 157% in the past 24 hours. Over this period, more than 95,478 traders had been liquidated.

    At the time of writing, the total liquidations stood at $232 million. Data showed the largest single liquidation order coming in on Binance for an ETH/USDT position valued at $5.59 million.

    ETH, XRP and SOL liquidations

    The crypto market’s total capitalization stands at $2.8 trillion, with Bitcoin’s dominance at 58.9%.

    However, the latest wave of liquidations has hit traders hard, particularly those convinced the price was on the upward mend.

    With leveraged positions largely longs, most of the rekt positions were bullish bets. Coinglass data shows over $73 million and nearly $44 million are for Bitcoin and Ethereum.

    XRP and Solana also witnessed huge liquidation.

    Crypto price outlook

    As noted, Bitcoin (BTC) saw over $73 million in liquidations.  This followed another massive short position for BTC, with a whale taking a 40x leverage. The whale’s liquidation is above $86,000. BTC price currently hovers around $83,316. What happens to the whale?

    Crypto trader and analyst Ash Crypto notes an announcement from Strategy founder Michael Saylor buying more BTC could see the $380 million whale record substantial losses.

    “If Saylor announces that he is buying $2 billion Bitcoin soon or even hints it, $380 million 40x short whale will get liquidated in a single candle,” the analyst posted on X.

    Another analyst shared:

    Currently, Bybit, Binance and OKX lead the total liquidations mark.

    As bulls plot to fell the bears, the rising liquidations underscore the risks of leverage. In a volatile market, millions or even billions could get wiped out in hours.

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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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  • Hoth Therapeutics to buy up to $1 million worth of Bitcoin

    Hoth Therapeutics to buy up to $1 million worth of Bitcoin

    Hoth Therapeutics, a publicly-traded biopharmaceutical company, has adopted Bitcoin (BTC) as a treasury asset.

    The clinical-stage biopharmaceutical company announced on Nov. 20 that its board of directors had approved adding BTC to its balance sheet. In the first step of this significant move, Hoth Therapeutics will buy up to $1 million in Bitcoin, according to details in a press release.

    Big move as Hoth buys Bitcoin

    Hoth points to Bitcoin’s traction as an investment asset, global adoption and rising institutional purchase as key to its decision. Bitcoin ETFs and options approval, increased ETF inflows and assets as well as plans for strategic BTC reserves has also buoyed several platforms.

    The Hoth management team also looked at BTC as a hedge against inflation and store of value as crucial features.

    “As Bitcoin continues to grow, gaining investor attention and acceptance as a major and primary asset class, we believe that Bitcoin will serve as a strong treasury reserve asset,” Robb Knie, chief executive officer of Hoth said.

    “With recent approval of Bitcoin ETFs and increasing activity from institutional investors, it is a strong addition to our treasury strategy. We believe its inflation-resistant characteristics may make it a reliable asset as a functional store of value,” Knie added.

    Hoth’s move comes as MicroStrategy, the company that has acquired a massive BTC haul since its first purchase in 2020, added to its holdings with a $4.6 billion purchase. Other companies, including ‘Asia’s MicroStrategy’ Metaplanet are looking to follow suit.

    Endowments, pension funds and family offices are among those to also take a serious look at Bitcoin.

    Meanwhile, the price of Bitcoin has surged to new all-time highs above $94,000 amid positive sentiment since Donald Trump’s re-election. Analysts say the benchmark crypto asset will surpass $100k, going parabolic in the next months.

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  • Metaplanet to buy additional $11.7 million Bitcoin

    Metaplanet to buy additional $11.7 million Bitcoin

    Metaplanet loads more bitcoins with 42,466 BTC purchase
    • Metaplanet to raise ¥1.75 billion (over $11.7) in bonds to buy Bitcoin (BTC).
    • The publicly-listed Japanese company has also unveiled a shareholder benefits program.

    Metaplanet, a publicly-traded company listed in Japan, has announced plans to buy more Bitcoin (BTC) to add to its growing haul.

    On Nov. 18, the Tokyo Stock Exchange listed Bitcoin Treasury Company announced it was looking to raise ¥1.75 billion in bonds to buy the flagship cryptocurrency.

    The firm has issued one-year 0.36% bonds at ¥1.75 billion, approximately $11.7 million, and will use the proceeds to purchase more BTC. Currently, Metaplanet holds over 1,000 BTC.

    Metaplanet is Japan’s MicroStrategy

    Metaplanet’s board of directors resolved to issue the third series ordinary bonds during a meeting held on November 18, 2024, according to a regulatory disclosure. The bondholder will be EVO FUND, while the bonds will mature on November 17, 2025.

    In Oct., Metaplanet announced it had adopted ‘BTC Yield’ as a key performance indicator. This followed the industry pioneer MicroStrategy whose strategy continues to inspire several other companies. On its part, MicroStrategy is eyeing $42 billion in capital over the next two-to-three years to buy Bitcoin.

    Earlier this month, Michael Saylor revealed the US-based firm had acquired an addition 27,200 BTC for over $2 billion. Since the company started buying the scarce asset, it has hoarded 279,420 bitcoins purchased for over $11.9 billion.

    Over the past year, MicroStrategy’s treasury operations have seen holders get 26.4% in BTC Yield – representing 157.5 BTC in daily accumulation. As Saylor recently noted, his company has achieved this “without the operational costs or capital investments typically associated with bitcoin mining.”

    Metaplanet has announced a shareholder benefits program. According to the company, the program will offer exclusive perks and other added value offerings to shareholders. The firm is teaming up with VC Trade, Hotel Royal Oak Gotanda, The Bitcoin Conference, Bitcoin Magazine, and Webull Securities on this initiative.

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  • Whale dumps $3 million worth of INJ and buys LDO

    Whale dumps $3 million worth of INJ and buys LDO

    An image of a whale’s tail in the ocean
    • The whale sold over 150k Injective (INJ) tokens worth over $3.29 million.
    • According to Lookonchain, the whale acquired 2.44 million Lido DAO (LDO) worth over $3.05 million.
    • INJ price dipped slightly while LDO rose

    A whale has sold a significant amount of Injective (INJ) and bought more Lido DAO (LDO) tokens.

    On Wednesday, Sept. 25, Lookonchain shared on-chain details that showed the whale dumped 150,428 INJ valued at $3.29 million. The whale swapped the INJ for 2.44 million LDO valued at more than $3.05 million.

    Per Lookonchain, the whale sold their INJ for LDO via crypto liquidity provider Cumberland.

    Injective price

    Injective (INJ) is layer 1 blockchain decentralized finance applications. The Binance and Mark Cuban-backed interoperable L1 blockchain currently ranks as the 49th largest cryptocurrency by market at $2.1 billion.

    The price of Injective’s native token fell 3% to trade near $21.24. INJ trading lower also saw weekly gains shrink to around 14%, while Injective is now down 1.4% in the past month. Notably, INJ reached highs of $22.70 on Tuesday, hitting the resistance level seen on August 24.

    INJ price however reached $52.62 on March 14, 2024 and its currently positioned nearly 59% off that level.

    Lido DAO price

    With the LDO purchase, the whale’s showing their bullish projection for Lido. Growth for the decentralized finance platform – a market leader in Ethereum staking – may be among catalyst.

    The Lido DAO price was up 2.6% in the past 24 hours to change hands at highs of $1.29 earlier in the day. LDO is among the top gaining tokens with +29.7%  this past week.

    LDO price was at $1.26 at the time of writing.

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  • CleanSpark acquires Bitcoin miner GRIID for $155 million

    CleanSpark acquires Bitcoin miner GRIID for $155 million

    • CleanSpark announced on June 27 that it had acquired GRIID Infrastructure, a US-based Bitcoin miner for $155 million.
    • The company expects the all-stock deal to close in Q3, 2024 subject to GRIID shareholder approval and other customary requirements.

    Bitcoin miner CleanSpark announced today that it has entered an agreement to acquire GRIID Infrastructure in an all-stock transaction valued at $155 million.

    According to a press release the merger agreement also saw the two Bitcoin mining companies seal an exclusive hosting agreement for all of GRIID’s currently available power. 20 MW of this power will immediately be allocated to CleanSpark.

    “We are looking forward to welcoming the GRIID team into the CleanSpark family and we are excited to apply the CleanSpark way, carefully honed alongside the communities we operate in Georgia and Mississippi, to GRIID’s impressive pipeline in Tennessee,” CleanSpark CEO Zach Bradford said in a statement.

    CleanSpark eyes 400 MW by 2026

    CleanSpark, which has closed other deals before, expects to build out its operations in Tennessee over the next three years. This should see the miner reach operational capacity it managed in Georgia over the same period.

    “That achievement was to build out over 400 MW of infrastructure backed by valuable, long-term power contracts,” Bradford noted.

    The miner targets surpassing 100 MW in Tennessee by the end of this year, 200 MW in 2025 and over 400 MW in 2026.

    Deal expected to close in Q3

    Per the announcement, CleanSpark’s acquisition of GRIID has already received unanimous approval from the Boards of Directors of both companies.

    As such, they expect the deal will close in Q3, 2024. However, this is still subject to approval by GRIID shareholders as well as other customary closing conditions.

    CleanSpark’s acquisition of GRIID comes as another Bitcoin miner Riot Platforms’ plans to take over Bitfarms hit a snag. In the latest development around the saga, Riot has reportedly decided to go for an overhaul of the Bitfarms’ board by taking up three seats.

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  • Riot Platforms wants to buy Bitfarms for $950 million

    Riot Platforms wants to buy Bitfarms for $950 million

    Riot Platforms wants to buy Bitfarms for $950 million
    • Riot Platforms offers $950M to acquire Canadian Bitcoin miner Bitfarms.
    • Bitfarms is facing leadership turmoil amid CEO Geoffrey Morphy’s lawsuit.
    • The merger would create largest publicly listed Bitcoin miner by capacity.

    Riot Platforms, a prominent Bitcoin miner and Bitfarms’ largest shareholder, has made a hostile takeover offer of $950 million for Bitfarms, a Canadian Bitcoin mining company.

    Riot’s buyout offer represents a 24% premium over Bitfarms’ one-month volume-weighted average share price as of May 24, 2024.

    Shareholders to own 17% of Bitfarms after Riot’s takeover

    Riot Platforms, already the largest shareholder in Bitfarms with a 9.25% stake, had initially approached Bitfarms’ board with a private offer on April 22.

    However, following the rejection of the offer, Riot has now taken the proposal public.

    The deal would involve a combination of cash and common stock, with Bitfarms shareholders standing to own approximately 17% of the merged entity.

    Bitfarms’ disputes with former CEO

    The timing of Riot’s bid coincides with a period of transition and turmoil within Bitfarms’ management. The company has been grappling with the departure of its CEO, Geoffrey Morphy, who was dismissed in May amidst a legal dispute.

    Morphy’s abrupt exit and subsequent lawsuit against Bitfarms for breach of contract and wrongful dismissal have raised questions about the company’s leadership stability and governance practices.

    Riot Platforms has seized upon these developments to assert its case for the acquisition, alleging that certain directors, including Bitfarms’ co-founders Nicolas Bonta and Emiliano Grodzki, may not be acting in the best interests of shareholders.

    Riot has pledged to push for the addition of new, independent directors to Bitfarms’ board through a special shareholders meeting scheduled after the company’s upcoming Annual General and Special Meeting on May 31.

    Bitfarms’ disappointing earnings compared to Riot Platforms

    Notably, Bitfarms’ disappointing earnings in 2023, despite a costly technical upgrade, have contributed to its vulnerability.

    Analysts had expected better performance post-Bitcoin halving, but Bitfarms’ April earnings dropped 29% year-on-year.

    In contrast, Riot reported a 131% increase in net income in Q1 2024, reaching $211 million.

    If successful, the combined entity would emerge as the largest publicly listed Bitcoin miner, boasting significant self-mining and power capacities.

    Riot Platforms envisions leveraging this enhanced scale and operational efficiency to drive future value creation for shareholders and strengthen its competitive position in the burgeoning cryptocurrency mining industry.

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  • Bitcoin Dogs presale ends with over $13.4 million raised: What next for 0DOG?

    Bitcoin Dogs presale ends with over $13.4 million raised: What next for 0DOG?

    • Bitcoin Dogs (0DOG) has officially closed its presale.
    • What next after the world’s first BRC-20 ICO raises $13.4 million?
    • 0DOG price in the last presale stage was $0.0404 – can it reach $1 in 2024?

    The Bitcoin Dogs (0DOG) presale officially closed on Friday March 15, 2024. The project’s pioneering ICO on the Bitcoin network ended with over $13.4 million raised in 30 days.

    As the community awaits the next steps, there’s anticipation for what the highly successful presale could mean for 0DOG’s price.

    Bitcoin Dogs: What next after ICO raises $13.4 million?

    Bitcoin Dogs is a new project aiming to become the leading BRC-20 platform. The GameFi project launched its native token 0DOG in presale last month, offering 810 million tokens over a 30-day ICO.

    As planned, the presale ended on March 15. Details on the official website indicate early buyers allocated $13,486,238.3.

    The Bitcoin Dogs team notes that while the presale is now closed, that’s just the beginning of what’s to come for the gaming and NFT project.

    “The presale has been an incredible success, and this really is just the beginning for Bitcoin Dogs… we’re finalising the exact plans for taking our token to public markets and we absolutely can’t wait to share the details with you once it’s all set in stone,” an update on the Bitcoin Dogs website states.

    Other than exchange listing, the next steps also include how presale participants can claim their 0DOG before they start trading.

    The team has also shared a similar message via its X and Telegram social channels, which have 129.2k followers and 29.3 members respectively.

    Bitcoin Dogs price outlook: How high can $0DOG go in 2024?

    As highlighted on the Bitcoin Dogs whitepaper, this project looks to tap into Bitcoin’s secure and reliable network. The goal is to unlock the next GameFi and NFT breakout project in the Bitcoin ecosystem.

    That much is likely to happen as the BRC-20 market grows, with experts forecasting dominance for ordinal inscriptions, gaming and DeFi in this flourishing BTC landscape. Forecasts for Bitcoin in coming months, despite its latest dip, also support the price outlook for 0DOG.

    MicroStrategy, BlackRock and other companies are also doubling down on Bitcoin, with spot BTC ETFs on a great upward curve.  

    In this scenario, its possible Bitcoin Dogs could become one of the top performers in 2024. A total supply of only 900 million and 10,000 unique Ordinal NFTs are bullish catalysts too.

    While the presale therefore closed with 0DOG at $0.0404, market trading could see it quickly rise. 0DOG could potentially spike to $1 in 2024.

    For more on Bitcoin Dogs, go to the official website.

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  • Bitcoin Dogs presale crosses $11.2 million a day to its end

    Bitcoin Dogs presale crosses $11.2 million a day to its end

    • Bitcoin Dogs presale exceeds $11.2M in 28 days, poised for Tier 1 exchange listings.
    • The project merges crypto and canine culture, offering Dogeverse for engagement.
    • Bitcoin Dogs’ success comes amid BTC’s price surge and Elon Musk’s Dogecoin endorsement.

    Bitcoin Dogs, a pioneering project at the intersection of cryptocurrency and canine culture, has seen its presale soar past $11.2 million in just 28 days.

    With its presale set to conclude imminently, the project is making waves in the crypto community, attracting both investors and enthusiasts alike.

    Bitcoin Dogs: where crypto meets canine craze

    Bitcoin Dogs isn’t just another cryptocurrency project; it’s a vibrant ecosystem where dog lovers and crypto fanatics converge to trade, collect, and engage in a myriad of dog-themed activities.

    Positioned as the ultimate mashup of crypto and man’s best friend, Bitcoin Dogs offers a playground where fun is mandatory, and rewards are plentiful.

    At the heart of Bitcoin Dogs lies the Dogeverse, a virtual realm where every interaction is an opportunity for growth and engagement. With features like NFTs, social contests, and PvP challenges, the Dogeverse promises endless entertainment for its users.

    The project’s roadmap outlines ambitious plans for expansion, including the introduction of NFTs, game launches, and partnerships with Play-to-Earn platforms.

    As Bitcoin Dogs continues to evolve, it aims to solidify its position as a leader in the burgeoning Game-Fi space, where gaming meets decentralized finance.

    Bitcoin Dogs presale: riding the wave of crypto frenzy

    Bitcoin Dogs’ successful presale has garnered attention from investors worldwide, with contributions surpassing $11.2 million and counting. This remarkable feat underscores the project’s appeal and potential within the crypto community.

    The timing of Bitcoin Dogs’ presale couldn’t be better, coinciding with a surge in interest surrounding Bitcoin.

    With BTC’s price surpassing $73,000 and mainstream adoption on the rise, investors are looking for alternative ways to capitalize on the crypto boom. Bitcoin Dogs offers precisely that, providing a unique avenue for investment and engagement.

    Moreover, Bitcoin Dogs is part of a broader trend of dog-themed meme coins gaining traction in the market. Projects like dogwifhat (WIF) and Dogecoin (DOGE) have captured the imagination of investors, with the latter recently receiving an endorsement from none other than Elon Musk, who hinted at the possibility of accepting Dogecoin as a payment option for Tesla.

    Looking ahead: Tier 1 exchange listings and beyond

    As Bitcoin Dogs’ presale draws to a close, anticipation is building for its next phase of development. With funds raised during the presale, the project is poised to accelerate its growth and expand its reach.

    One significant milestone on the horizon is the listing of $0DOG tokens on Tier 1 crypto exchanges, which will provide liquidity and accessibility to a broader audience of investors.

    Conclusion

    Bitcoin Dogs’ presale success is a testament to the growing appetite for innovation and creativity in the crypto space.

    By tapping into the timeless appeal of dogs and combining it with the excitement of blockchain technology, Bitcoin Dogs has carved out a niche for itself in the ever-evolving world of cryptocurrency.

    As it continues to make strides in its journey, Bitcoin Dogs is poised to make a lasting paw print on the crypto landscape.

    To own your own 0DOG tokens and be part of the Bitcoin Dogs community, it is not too late to visit the Bitcoin Dogs official website and purchase a share of the tokens at $0.0404 in the final stage before the presale comes to an end.

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