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  • Bitcoin hard drive containing $780m lost forever as UK landfill site is set to close

    Bitcoin hard drive containing $780m lost forever as UK landfill site is set to close

    metaplanet-buys-bitcoin
    • James Howells lost his court battle against Newport City Council in January
    • The judge ruled that there were “no reasonable grounds” for succeeding at a full trial
    • Today, Howells’ Bitcoin would be worth around $780 million

    A UK landfill site where a man lost his hard drive containing 8,000 Bitcoin is reportedly set to close in the 2025-26 financial year.

    The site, in Newport, Wales, “has been in exploitation since the early 2000s and is coming to the end of its life, therefore the council is working on a planned closure and capping of the site over the next two years,” said a council spokesperson.

    According to the BBC, a solar farm will be built on part of the site after it received planning permission last August.

    Lost battle

    In January, James Howells lost his court battle against Newport City Council to recover his lost hard drive. In 2013, his former partner mistakenly threw it out in a black bin bag.  Judge Keyser KC, the Circuit Commercial Judge for Wales, dismissed Howells’ case. At the time, Keyser stated there were no “reasonable grounds” for succeeding at a full trial.

    Over the last 12 years, Howells tried to engage with Newport City Council to recover his lost hard drive, but was “largely ignored.”

    At the time of his loss, his assets – that he mined in 2009 – were worth around $1.3 million. Today, they would be valued at over $780 million.

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  • Italy set to raise Bitcoin capital gains tax to 42%

    Italy set to raise Bitcoin capital gains tax to 42%

    Italy set to raise Bitcoin capital gains tax to 42%
    • Italy plans to raise the capital gains tax on cryptocurrencies from 26% to 42%.
    • The new policy reflects a trend among European countries tightening crypto regulations.
    • PM Giorgia Meloni assures no new taxes for citizens despite the proposed increases.

    Italy is set to increase its capital gains tax on Bitcoin and other cryptocurrencies from 26% to a staggering 42%, according to Vice Economy Minister Maurizio Leo.

    This announcement was made during a press conference detailing the country’s budget for 2025, where Leo highlighted measures approved by the Council of Ministers aimed at generating additional resources to support families, youth, and businesses.

    Italian’s new tax policy reclassifies crypto taxation

    The new tax policy marks a significant shift from the current framework, which has been in place since the 2023 tax year.

    This change follows a broader reform that reclassifies cryptocurrency taxation, moving away from treating cryptocurrencies as foreign currency, which had previously benefited from lower tax rates.

    Under the previous regime, capital gains exceeding €2,000 (approximately $2,180) were taxed at a rate of 26%.

    European countries tightening tax regulations on digital assets

    The increase in the capital gains tax on cryptocurrencies reflects a growing trend among European countries to tighten tax regulations on digital assets.

    Similar moves have been reported in the UK, where Chancellor Rachel Reeves is considering raising capital gains taxes, including those on cryptocurrencies, from 20% to 39%.

    In addition to the capital gains tax hike, Leo mentioned that Italy plans to intensify its efforts to combat tax evasion, particularly through stricter regulations on cash transactions. This initiative aims to create a more transparent financial environment and bolster government revenues.

    Despite the proposed tax increases, Italian Prime Minister Giorgia Meloni reassured citizens that there would be no new taxes affecting the general population. She stated that the government remains committed to structural tax cuts for workers and plans to allocate €3.5 billion from banks and insurance companies to healthcare and support for the most vulnerable sectors of society.

    As Italy prepares to implement these tax changes, the implications for cryptocurrency investors and the broader digital asset market remain to be seen, especially in a landscape where regulatory scrutiny is increasing across Europe.

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  • Mudrex set to introduce U.S. Bitcoin ETFs to Indian investors

    Mudrex set to introduce U.S. Bitcoin ETFs to Indian investors

    • Mudrex to offer US Bitcoin ETFs to Indian investors.
    • Mudrex will facilitate access to BlackRock, Fidelity, Franklin Templeton, and Vanguard spot ETFs.
    • Indian regulatory environment poses challenges with RBI restrictions.

    Mudrex, a California-based crypto investment platform, is set to revolutionize the Indian investment landscape by offering U.S. spot bitcoin exchange-traded funds (ETFs) to both institutional and retail investors.

    This move marks a significant milestone in bridging global investment opportunities with Indian markets, despite regulatory challenges.

    An unprecedented offering amid regulatory divide

    Mudrex’s decision to provide access to U.S. spot bitcoin ETFs comes at a time when India’s crypto regulatory environment remains divided.

    While the Reserve Bank of India (RBI) has maintained a cautious stance on cryptocurrencies, the Intelligence Unit of the Finance Ministry has registered numerous Indian crypto service providers.

    This dichotomy underscores the complexities of navigating regulatory frameworks in the country.

    Merdrex to streamline transactions under the LRS

    With a subsidiary registered in India and licenses in the European Union, Mudrex is strategically positioned to facilitate the trading of bitcoin ETFs for Indian investors.

    By leveraging strong banking relationships, the platform aims to streamline transactions under the Liberalised Remittance Scheme (LRS), enabling users to diversify their portfolios with a minimum investment of $5,000 and a maximum limit of $250,000 per year.

    Under the LRS, Indians are permitted to invest up to $250,000 annually in overseas securities, including bitcoin ETFs.

    Mudrex’s platform empowers investors to capitalize on this opportunity, providing access to a range of U.S. spot ETFs from reputable firms such as BlackRock, Fidelity, Franklin Templeton, and Vanguard. This move aligns with the platform’s mission to democratize access to global investment opportunities while adhering to regulatory guidelines.

    Institutional interest

    With over 350 institutions engaging with Mudrex, the platform anticipates significant uptake among investors.

    Approximately 20 institutions have already initiated the process of joining, signalling a growing appetite for Bitcoin ETFs in the Indian market.

    Moreover, with an average ticket size of $110,000, Mudrex foresees substantial trading volumes, reflecting the increasing demand for diversified investment instruments.

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  • GBTC outflows slow, signalling possible rebound; $GFOX set for major rally

    GBTC outflows slow, signalling possible rebound; $GFOX set for major rally

    Available data and expert submissions show Grayscale’s Bitcoin Trusts (GBTC) outflows are trending down, suggesting that the dumping spree may soon end.

    Although the outflow number is still considerably large, a rebound looks to be on the horizon for $BTC prices, and investors’ confidence is gradually returning. Galaxy Fox holders also expect a significant rally from the meme coin post-presale. The meme coin has performed impressively in its ICO phase, and observers expect more in its retail phase. 

    Galaxy Fox sets for retail exchange debut 

    Galaxy Fox is a new token on the rise. The multi-utility token aims to dominate the crypto space and yield profit for investors while at it. Galaxy Fox will be a beneficial currency in web3 space. It will play vital roles on numerous web3 platforms while overseeing everything in its ecosystem. The purchase-worthy meme coin has shown a glimpse of its profitability on presale, and many expect it to keep the momentum going. 

    Galaxy Fox is heading towards its retail phase with many expectations from crypto enthusiasts. The meme coin’s outlook holds much promise and will live up to them. With a well-founded prize pool and Stargate, Galaxy Fox will allow users to earn from its ecosystem via the P2E mechanism and token staking features. Holders will also be able to explore web3 opportunities with $GFOX,

    Early and late $GFOX adopters will likely gain from the meme coin in the coming months. The presale is nearing incredible milestones, leaving it on the verge of completion. Galaxy Fox has smashed $3 million, with over 92% of its stage 7 token allocation sold. The next stage will commence, and it’s expected to sell faster and at a higher token price. Hence, the best time to join the $GFOX presale is now. The meme coin’s features indicate it’s a token with excellent prospects, and investors will find it profitable.

    Grayscale’s Bitcoin Trusts (GBTC) outflow reduction sparks optimism 

    $BTC ETFs trading commenced the second day after approval, and the trading volumes have been impressive. Major concerns have been about high outflows, especially from GBTC. Grayscale Bitcoin Trusts (GBTC) outflows are about 106,092 $BTC since the commencement of ETF trading, amounting to approximately $4.4 billion over nine trading days. 

    The high numbers have impacted $BTC’s price negatively, prompting investors to lose trust in the cryptocurrency. However, recent developments show that Grayscale selling volume is gradually reducing. Data from BitMEX indicates GBTC outflows slowed for two consecutive days and had its smallest daily outflow since trading commenced on January, 24. The $429 million outflow was about 33% lower than GBTC’s sell-out at the start of the week. 

    This event has prompted predictions of a possible $BTC rebound, with many industry experts airing their opinions. Eric Balchunas believes that while GBTC outflows are still large, the seeming downtrend is a sign that the mass exodus is gradually reducing. However, Eric states there are ‘too many unknowns’ to determine exactly when the massive sell-out will stop. 

    James Mullarney, another market expert, also shared his opinion on the issue. He believes the significant reduction in Grayscale’s selling activities indicates a possible change of strategy by GBTC, calling it a positive sign for the crypto market. The experts believe the decrease in Grayscale’s outflows could spur $BTC’s price stability and bring back investors’ confidence. This means a $BTC recovery rally is imminent, and the top cryptocurrency will be back on track to break into the $50,000+ price level weeks from now.

    Conclusion 

    The reduction in GBTC’s daily outflows indicates an imminent end to the mass exodus on the $BTC ETF. Experts believe this will positively affect the cryptocurrency’s price movement. Thus, investors are optimistic about a possible BTC rebound. Similarly, Galaxy Fox is readying for a major surge as it nears its retail phase. The altcoin has shown great promises on presale, and it looks poised to live up to them. Hence, investors looking to improve their financial standings this year can consider joining the presale immediately. 

    To learn more about $GFOX, visit the Galaxy Fox Presale or Join the Community.

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  • US sanctions Bitcoin ETF, NuggetRush set to cross $1.8M in investment

    US sanctions Bitcoin ETF, NuggetRush set to cross $1.8M in investment

    • Bitcoin ETF has become a reality with the SEC approving its listing on major exchanges in the United States.
    • NuggetRush is the latest crypto sensation that has raised more than $1.8 million from eager investors.
    • As 2024 progresses, both NuggetRush and Bitcoin are expected to perform well this year.

    The United States on 10 Jan 2024 decided to include Bitcoin in major investment funds by approving 11 Bitcoin exchange-traded funds (ETFs). By doing this, the SEC has allowed Bitcoin to be bought by a wide range of investors, from big pension funds to regular people.

    Cryptocurrency fans are thrilled with this decision because Bitcoin is the best crypto investment to date. The US financial authority had previously turned down such requests, worried about the possibility of fraud and market manipulation. However, they have now given their nod and it’s finally going to be launched soon. Meanwhile, another development that has been the talk of the town is the massive presale success of an emerging altcoin called NuggetRush. It has crossed $1.8 million in investment till now and is considered a good cryptocurrency ICO for this year.

    Let’s find out more about the Bitcoin ETF sanction and the hype around the NuggetRush presale.

    Why is Bitcoin ETF news exciting for crypto fans?

    ETFs are collections of investments that let people invest in various assets without actually owning them. They are sold on stock markets like regular shares, and their value changes based on the performance of the assets they include. An ETF might have different assets, like gold and silver, or shares from various sectors like technology and insurance. Some ETFs already include Bitcoin indirectly. However, a spot Bitcoin ETF will purchase Bitcoin directly at its current DeFi coin price.

    Several investment firms, including big names like Blackrock and Fidelity, have been waiting for the SEC’s approval to include Bitcoin in their ETFs. After some discussion over the details, the first approvals have been granted. This has made it the best crypto for beginners who don’t have much knowledge about this industry. It means a new group of investors can now get into Bitcoin without the hassle of digital wallets or crypto exchanges. It’s expected that a lot of money will flow into the Bitcoin market as these financial firms begin to invest.

    Some experts think this won’t greatly change Bitcoin’s price, as spot Bitcoin ETFs exist in other countries. However, with big US players entering the market, many believe Bitcoin’s value will go up due to increased demand.

    Some people think this decision marks a significant moment, showing that Bitcoin is being taken seriously, at least as the top crypto to invest in.

    NuggetRush looking strong as it crosses $1.8M in investment

    NuggetRush is a popular play-to-earn gaming cryptocurrency which is considered the best crypto coin for investment. It has been showing impressive strength as it has gathered an investment of over $1.8 million. For those who might not be familiar, play-to-earn (P2E) games are a type of online game where players can earn real money by playing. NuggetRush is one such game that’s catching a lot of attention in the gaming communities.

    The price of each NuggetRush token is currently set at $0.018. This is quite affordable and offers a good opportunity for those interested in how to get into cryptocurrency without a huge investment. NuggetRush’s pre-sale is divided into five rounds, and right now, it’s in the fifth round. This means there’s still an opportunity to get in before the presale ends.

    One of the exciting aspects of NuggetRush is its expected launch price, which is projected to be $0.020 per token. This suggests that those who invest now during the presale could potentially see a profit when the token goes live. It’s always good to see a potential for profit in any investment, and NuggetRush seems to offer that. This makes it one of the best altcoins to watch out for this year.

    In addition to the play-to-earn aspect, NuggetRush also offers something called NFT staking. NFTs, or non-fungible tokens, are a kind of digital asset that represents ownership of a unique item or piece of content. By staking NFTs in NuggetRush, players can earn an extra 20% return. This is an attractive feature for those who are into the trending NFT market and are looking for additional ways to increase their earnings.

    Another notable feature of NuggetRush is that it has zero tax on buying and selling tokens. In the world of cryptocurrency, it’s common to see some taxes or fees associated with transactions. The fact that NuggetRush doesn’t impose any tax on transactions makes it one of the best NFT cryptos for youngsters. It means that players and investors can buy and sell tokens without worrying about additional costs eating into their profits.

    Conclusion

    As the SEC has approved Bitcoin ETF in the United States, a lot of people are now happy. Another milestone is also achieved by a notable crypto coin called NuggetRush in the world of gaming and cryptocurrency. With its entry price of $0.018 per token and the bonus of NFT staking, it’s easy to see why it’s drawing significant investment.

    For more information on the NuggetRush presale, visit the NuggetRush Presale Website.

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  • Bitcoin volatility rising as $4.2 billion options set to expire Friday

    Bitcoin volatility rising as $4.2 billion options set to expire Friday

    Key Takeaways

    • Bitcoin volatility is the highest point since July 2022
    • Liquidity is extremely thin which is pushing volatility higher and accentuating price moves
    • $4.2 billion of options expire Friday, with bull set to profit following the recent surge up to $28,000

    Yesterday, I wrote a piece looking at how the correlation between Bitcoin and the stock market, notably tech stocks, has come back up. The relationship had loosened amid the banking turmoil that struck financial markets, triggered by the collapse of Silicon Valley Bank.

    As well as rising correlation, the market is also swinging wildly – the volatility is as high as it has been since July 2022, around the time Celsius sent evaporated into thin air and sent the market into mayhem.

    Why is volatility rising?

    The volatility spike is not surprising in light of the glut of liquidity currently in the markets. We crafted up a piece on this earlier this week, assessing how 45% of stablecoins had flowed out of exchanges in the last four months, with the balance now at the lowest point since October 2021. 

    It gives context to the recent Bitcoin price rise. With less liquidity in the markets, moves are naturally more violent, and Bitcoin has surged up to $28,000, now up 68% on the year. 

    While the move to the upside has been exacerbated by this thin liquidity, the opposite also holds true: the downside risk is elevated when markets are so thin. 

    It paints a picture of high risk for an asset that already oscillates wildly at the best of times. 

    Derivatives add to volatility

    Another factor? Derivatives open interest is absolutely soaring, with the below chart from Coinglass showing that options open interest is at its highest point since November 2021. 

    As I write this on March 31st, a mammoth $4.2 billion of Bitcoin options are set to expire. The below chart also shows the strike prices of the options – with a call/put ratio of 2.09 and Bitcoin currently trading close to $28,000, it will be a profitable day for many traders. 

    Digging into the numbers, there are 97,300 call options expiring at a strike price of $28,000 or less, compared to 24,500 put options. The dollar split is over $2 billion in favour of calls. 

    Looking at strike prices of the next level up, it is pretty much all call options. Between $28,000 and $32,000 there are 48,000 call options against 400 put options with a $1.4 billion split in favour of calls. 

    After a year of bears dominating, there will finally be some bulls primed to profit. 

    Indeed, looking at the Bitcoin spot holdings, it is showing more positive news all across the market. In December, the majority of Bitcoins were in loss-making positions, when comparing the market price to the price at which they last moved. 

    Today, however, 74% of the supply is in profit when using the same metric. 

     

    With interest rate policy expectations softening, Bitcoin has finally been allowed room to run. However, with thin liquidity and high volatility comes risk, although when it comes to Bitcoin, risk is hardly a foreign concept.

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  • SAITAMA is all set to go big with its utilities

    SAITAMA is all set to go big with its utilities

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  • Bitcoin (BTC/USD) new lower price target set by analysts

    Bitcoin (BTC/USD) new lower price target set by analysts

    What next after Bitcoin (BTC/USD) broke below its long-term psychological level at $19,000? According to a crypto analyst who predicted the 2021 crash, Bitcoin is headed to $13,000. The pseudonymous analyst tells his 618,400 Twitter followers to expect one “last nuke” that could see altcoins also tank by 30-40%.

    It’s not only the popular analyst expecting Bitcoin to plunge. JPMorgan analysts say Bitcoin will reach $13,000 in the wake of Alameda and FTX troubles. The strategists opine that the number of entities with robust balance sheets to cushion those under liquidity crisis is shrinking. The comments come as Binance abandons the projected acquisition of FTX. 

    Bitcoin has particularly been under pressure as investors’ concerns about speculative assets grow. Previously, the collapse of crypto lenders like Voyager and Celsius sparked similar market selloffs. Coupled with macroeconomic woes and high inflation, investors could consider risky assets a bad bet.

    JPMorgan says that a confidence crisis is settling in the market. The analysts say since FTX had previously obtained a green light for the quality of its balance sheet, the fresh troubles hit investors differently.

    BTC on a relief rally after crashing below $19,000

    From the daily chart, BTC is enjoying a relief rally after touching a low of below $16,000. The relief gains come after the US annual inflation rose by 7.7% in October. The rate was below the 7.9% estimates. The below-estimated price gain rekindles discussions that the Federal Reserve may slow down the rate hikes in the future. Will BTC sustain the rally and defy the projected $13,000 price?

    Source – TradingView

    Despite the relief rally, a decline below $19,000 makes a bear case strong for Bitcoin. The current rally may be contained at the resistance if the bear sentiment remains. 

    A likely price action could involve a further price appreciation followed by a sharp sell-off at the $19,000 level. That would open BTC to declines to the $16,000 potential support and the $13,000 analyst estimates.

    When to buy Bitcoin?

    Bitcoin is bearish despite the relief rally. Investors should buy the cryptocurrency after the price settles at suitable support. A breakout above $19,000 could also attract buyers.

    Where to buy BTC

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy BTC with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy BTC with Bitstamp today

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  • SHIB 8% Gain Bigger Than TWTR’s As Elon Musk Set For Twitter Takeover

    SHIB 8% Gain Bigger Than TWTR’s As Elon Musk Set For Twitter Takeover

    Shiba Inu managed to finally be on the green across its short-term price charts as SHIB gets exposed to a number of positive stimuli over the last few days.

    The cryptocurrency reacted positively to the news of Elon Musk’s upcoming takeover of social media giant Twitter, increasing the price of SHIB by over 8% just moments after the development was announced.

    The meme crypto, however, experienced a slight price correction according to latest tracking from Coingecko. At press time, SHIB is changing hands at $0.00001087.

    It is still up by 10.1% over the last seven days and by 6.8% for the past two weeks. SHIB also managed to slash its 30-day losses to just 2.2%.

    The altcoin performed decently over the last couple of days that it actually managed to surpass Twitter’s stock (TWTR) in terms 24-hour gains.

    TWTR settled at $53.35 on Thursday. It was slightly higher than its $52.78 closing value a day before.

    Elon Musk has until Friday to finalize his $44 billion acquisition of Twitter.

    Image: ABC News

    SHIB Continues To Ride Dogecoin Momentum?

    In the past, it has become evident that Shiba Inu benefited whenever the original dog-themed cryptocurrency Dogecoin is having a good run.

    This was once again proven on October 26 when the crypto market witnessed a relatively strong surge that pushed Bitcoin and Ethereum above crucial price levels.

    DOGE managed to increase by 28.2% over the last week as it is currently trading at $0.075. With this, the digital asset pumped its market capitalization by over $2 billion. SHIB replicated this action as it also pushed its overall valuation to $6.407 billion.

    Among crypto assets belonging to the top 20 list of Coingecko, Dogecoin and Shiba Inu were two altcoins that tallied the highest gains over a seven-day time period.

    Whale Activity Observed Following Musk’s Twitter Move

    Meanwhile, Dogecoin whales became active following the development involving the tech billionaire Musk and Twitter. In fact, there were 85 transactions with value of at least $100,000 that was recorded after the news broke out.

    This might be an indication that investors are hopeful that DOGE will be able to duplicate its impressive run last year.

    On the other hand, SHIB is just trying to capitalize on every positive development that could trigger price rallies, no matter how small they are.

    The meme coin continues to deal with problems like high supply inflation and lack of utility – two factors that negatively impact its price direction.

    Its recent surge might help fend off an impending doom as some analysts believe the crypto might “die” by the end of next year.

    SHIB total market cap at $6 billion on the daily chart | Featured image from EyeEm, Chart: TradingView.com

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  • Snowfall Protocol Is Set to Outperform PancakeSwap and Shiba Inu | Coinspeaker

    Snowfall Protocol Is Set to Outperform PancakeSwap and Shiba Inu | Coinspeaker

    Two of the most popular cryptocurrencies Shiba Inu (SHIB) and, PancakeSwap (CAKE), are competing with the new crypto project Snowfall Protocol (SNW) as investor favorites, so we look at all three.

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