Crypto News

BlackRock’s Bitcoin ETF Options Debut with $2 Billion Exposure

November 21, 2024 1 min read

BlackRock’s Bitcoin ETF (IBIT) options launched with unprecedented success, amassing nearly $2 billion in notional exposure on their first day. Analysts highlighted the trading of 354,000 contracts, with a call-to-put ratio of 4.4:1, attributing this surge to Bitcoin’s recent rally to all-time highs. The introduction of IBIT options marks a pivotal moment for institutional adoption of Bitcoin, providing regulated avenues for hedging, speculation, and passive income generation. Options allow traders

Bitcoin surpasses $97K, nearing $100K

November 21, 2024 1 min read

Bitcoin (BTC) has surged past $97,500, nearing the $100,000 milestone, driven by a pro-crypto U.S. government and renewed market optimism. This rally, dubbed the “Trump trade,” gained momentum after the Republican election victory and Federal Reserve rate cuts, boosting risk appetite across asset classes. BTC’s 30% rise over 14 days has brought its market capitalization close to $2 trillion. Institutional interest has further fueled the rally, with BlackRock’s IBIT options—tracking

The chance of Bitcoin reaching $100,000 by year’s end surges to 72%

November 20, 2024 1 min read

The likelihood of Bitcoin (BTC) reaching $100,000 by the end of 2024 has surged to 72% on Polymarket, a prediction platform. This optimism stems from growing institutional interest, improving macroeconomic conditions, and anticipation around regulatory advancements, especially in the U.S. Key drivers of Bitcoin’s rally include declining inflation and lower interest rate expectations, which have boosted investor confidence. Speculation about the approval of a spot Bitcoin exchange-traded fund (ETF) is

Metaplanet to raise over $11.7 million in bonds to buy Bitcoin (BTC)

November 19, 2024 1 min read

Japan-based Metaplanet, listed on the Tokyo Stock Exchange, has announced plans to deepen its Bitcoin (BTC) investments. On November 18, the company revealed it would issue ¥1.75 billion (approximately $11.7 million) in one-year bonds at a 0.36% interest rate to fund additional BTC purchases. Already holding over 1,000 BTC, Metaplanet aims to cement its position as a leading Bitcoin treasury in Japan. Often compared to U.S.-based MicroStrategy for its aggressive

Key details from MicroStrategy’s recent Bitcoin acquisition

November 18, 2024 1 min read

MicroStrategy has announced a significant Bitcoin (BTC) acquisition, purchasing 51,780 BTC between November 11 and November 17, 2024. This move highlights the company’s steadfast commitment to its Bitcoin-focused strategy, championed by Executive Chairman Michael Saylor. The purchase was funded through MicroStrategy’s At-the-Market (ATM) program, which involves issuing and selling shares to raise capital. To date, the company has utilized $5.7 billion of the program’s $21 billion total, leaving $15.3 billion

Base, Coinbase’s Layer-2 network, celebrates 1 billion transactions

November 18, 2024 1 min read

Base, Coinbase‘s Ethereum (ETH) Layer-2 network, has reached an impressive milestone of 1 billion transactions just over a year after its launch in August 2023. This achievement highlights Base’s rapid growth, surpassing networks like Bitcoin, which took over 15 years to hit similar transaction numbers. Base now ranks as the second most popular blockchain of 2024, outperforming competitors such as Optimism and Arbitrum, and has seen interest surge ninefold compared

Ripple CEO Brad Garlinghouse credits Trump’s policies for unlocking billions in crypto value

November 18, 2024 1 min read

Ripple CEO Brad Garlinghouse is optimistic about the cryptocurrency industry’s future, citing recent U.S. political developments as catalysts for growth. In a recent interview, he highlighted how pro-business policies, particularly under a potential second Trump presidency, could create opportunities for the sector. Garlinghouse noted significant growth in U.S.-based crypto assets, including Ripple’s XRP, since the election, driven by increased investor confidence and prospects for regulatory reform. He pointed to the

Nearly $4 billion in Bitcoin and Ethereum options expire

November 17, 2024 1 min read

Nearly $4 billion in Bitcoin (BTC) and Ethereum (ETH) options contracts are set to expire today, raising concerns about potential market volatility. With $3.4 billion in Bitcoin and $581 million in Ethereum options at stake, traders anticipate possible price fluctuations, especially as both assets have experienced recent declines. Bitcoin’s put-to-call ratio of 0.85 and Ethereum’s 0.92 indicate a bullish market sentiment, with more bets on price increases (calls) than decreases

Pennsylvania lawmakers propose a bill to allow state investments in bitcoin

November 16, 2024 1 min read

Pennsylvania lawmakers have proposed the Strategic Bitcoin Reserve Act, a bill that would allow the state treasurer to invest in Bitcoin, digital assets, and crypto-based exchange-traded products. Sponsored by Republican Representatives Mike Cabell and Aaron Kaufer, the bill aims to use Bitcoin as a hedge against inflation, offering a tool to protect state finances from economic uncertainty. Rep. Cabell emphasized that institutions and governments, including the U.S., have already adopted Bitcoin

Bitcoin’s surge propels Coinbase and Robinhood to top app rankings

November 15, 2024 1 min read

The recent Bitcoin (BTC) rally has sparked a resurgence in retail interest, driving cryptocurrency trading apps like Coinbase and Robinhood to climb global app store rankings. Coinbase made a dramatic leap from 435th to 9th place, reflecting renewed enthusiasm among retail investors eager to engage with Bitcoin’s rising value. Robinhood also surged to 13th, while CashApp ranked 30th, signaling increased demand for accessible trading platforms. Historically, Bitcoin price spikes have

BlackRock’s Bitcoin ETF surges to $40 billion in assets in just 211 days

November 15, 2024 1 min read

BlackRock’s Bitcoin ETF, IBIT, has achieved unprecedented growth, amassing $40 billion in assets within 211 days, making it the fastest-growing ETF to date. Now ranked in the top 1% of ETFs by assets, IBIT’s rapid ascent underscores both strong institutional interest and BlackRock’s strategic approach, including a record single-day acquisition of nearly 9,000 BTC. With Bitcoin prices soaring above $93,000, IBIT’s performance has become a defining marker in the current

Tesla’s Bitcoin investment surges past $1 billion, netting a $495 million profit

November 15, 2024 1 min read

Tesla’s Bitcoin (BTC) holdings have now surpassed $1 billion, generating a $495 million profit thanks to recent price increases. Tesla initially invested in Bitcoin in early 2021, purchasing around 43,200 BTC for $1.5 billion, influenced by CEO Elon Musk’s support for cryptocurrencies. This move not only strengthened Tesla’s financials but also inspired other corporations to consider digital assets. Although Tesla later sold part of its Bitcoin holdings, it retained a