Browsing:BTC

BlackRock (IBIT) surpasses MicroStrategy in Bitcoin holdings
2 months ago 1 min read

BlackRock (IBIT) surpasses MicroStrategy in Bitcoin (BTC) holdings

BlackRock’s iShares Bitcoin Trust (IBIT) has seen a significant increase in its holdings, surpassing MicroStrategy’s Bitcoin (BTC) holdings by nearly 40 days. This week was the third-best week for IBIT, with 31,588 BTC added to BlackRock’s iShares Bitcoin Trust holdings. As a result, this puts the trust above MicroStrategy in Bitcoin’s rich list, which currently holds 193,000 BTC after its last purchase on February 26. Furthermore, MicroStrategy acquired its 193,000 BTC at an average price of $31,554, costing Michael Saylor’s company $6.09 billion. In addition, the formalization of BTC ETFs makes traditional finance more competitive in navigating the leading crypto’s

Bitcoin (BTC) has reached its all-time high
2 months ago 1 min read

Bitcoin soars past $70K: Will BTC hit $75K soon?

Bitcoin (BTC) has reached its all-time high, reaching $70,000, demonstrating market strength and gaining the attention of mainstream media and financial professionals. Scarcity, investment, and expectation are key reasons driving this spike. Over-the-Counter (OTC) trading desks are witnessing Bitcoin shortages, indicating rising demand for the digital commodity. The drop in BTC reserves stored on exchanges implies that investors are increasingly preferring to store assets in private wallets or safe storage options. Furthermore, exchange-Traded Funds (ETFs) are increasing buying pressure by acquiring an average of 4,000 Bitcoins every day, offering a regulated and accessible way for a larger spectrum of investors

Bitcoin exchange-traded funds (ETFs) witnessed a trading volume that broke all previous records
2 months ago 1 min read

Bitcoin ETFs trading volume soars but face a setback, hinting at market volatility

Last week, Bitcoin exchange-traded funds (ETFs) witnessed a trading volume that broke all previous records, which resulted in large investment flows. On the other hand, a decline took place at the end of the week, showing that net investments in a group of ten funds based in the United States turned negative. Although Grayscale Investments’ fund had significant withdrawals, BlackRock’s iShares Bitcoin ETF (IBIT) received approximately $203 million in investments. However, Grayscale Investments’ fund experienced a net withdrawal of $140 million. Although this was the case, the overall weekly influx continued to be strong, reaching almost $1.7 billion, making it

El Salvador's Bitcoin (BTC) holdings exceed $60 million amid recent price surge
2 months ago 1 min read

El Salvador’s Bitcoin (BTC) holdings exceed $60 million amid recent price surge

El Salvador has capitalized on Bitcoin’s (BTC) recent price surge, surpassing the $64,000 mark with 2,848 Bitcoin in possession. In 2021, El Salvador became the first country to legalize Bitcoin as legal tender. In November 2022, the crypto crash led to significant speculation regarding the country’s financial stability. Following this, El Salvador suffered a $60 million loss. But now, reports say that El Salvador BTC holdings exceeds the $60 million as a result of Bitcoin surge. Nayib Bukele, the president of El Salvador, declared himself a champion of Bitcoin, garnering significant popularity both domestically and within the global crypto industry.

The market value of Bitcoin (BTC) had risen to $1.2 trillion
2 months ago 1 min read

Bitcoin (BTC) Surges Above $61,000 as Bull Rally Continues

On February 28 2024, the market value of Bitcoin (BTC) had risen to $1.2 trillion, up 6.5% in the last 24 hours, and the price had soared above $61,000. This comes as the combined trading volumes of almost $3 billion propelled the price increase on Tuesday, and several traders pointed to the bitcoin halving event as a fresh narrative that caused a rally before the halves. Since the early hours , over $40 million worth of future bets on lower Bitcoin prices have been liquidated, which could have contributed to the price increase. Since then major tokens such as XRP,

Bitcoin ETFs see over $570M boost
2 months ago 1 min read

Bitcoin ETFs see over $570M boost, marking a surge in crypto investment confidence

The crypto market is experiencing a significant surge in investment, particularly in Bitcoin Exchange-Traded Funds (ETFs). BitMEX exchange data shows that these ETFs secured over $570 million in new investments, marking the third-highest day for investments. Moreover, this influx amounts to around 10,168 BTC, indicating the growing trust and interest in crypto among investors. Furthermore, the trend continues to gain momentum, with investments rising by about $55 million from one day to the next. Note that BlackRock’s IBIT ETF saw an influx of $520 million in just one day, boosting its total investments to $6.5 billion. On the other hand,

2 months ago 1 min read

Crypto markets sees over $150 billion inflow as Bitcoin price soars above $57K

Bitcoin’s (BTC) price soared over $57,000 following several days of trading aimlessly between $51,000 and $52,000, hitting to a 26-month high. The last time the largest crypto by market cap hit $57,000 was in November 2021 when the price hit an all-time high of around $69,000. Bitcoin jump also triggered surge in alternative coins. Cryptos like Solana (SOL) and Bitcoin Cash (BCH), also saw huge rises, with SOL surpassing $110 and BCH reaching $300. Despite a quiet 7-day period last week, BTC’s bull run restarted on Monday afternoon, with the price surging to over $53,500. It is noteworthy that Bitcoin

Bitcoin spot ETF's reaches 2.4B in trading volume
2 months ago 1 min read

Bitcoin spot ETF’s reaches 2.4B in trading volume

On February 26, Bitcoin exchange-traded futures (ETFs) experienced a record-breaking surge in trade volumes, hitting $2.4 billion within 24 hours. This event was triggered by a significant rise in Bitcoin’s value above $56,000 USD, setting a new benchmark for the crypto market, particularly for the newly launched Bitcoin ETFs. In addition, the surge comes after simultaneous increase in Bitcoin’s price, suggesting a connection. This possibly drove investors towards Bitcoin ETFs as a more accessible investment option. Note that BlackRock’s iShares Bitcoin ETF contributed 55% (over $1B) of the total volumes, while other key players like Grayscale GBTC also contributed to

will BTC hit a new all-time high
2 months ago 1 min read

Bitcoin hits $57K, up over 10% in 24 hours

Bitcoin (BTC), the king of crypto, experienced a 6% gain with the price reaching $57,000 for the first time since November 2021. The rally began with BTC taking out $53,000, and later rose above $54,000. After that, the price rose to $55,000, $56,000, and $57,000 levels, according to CoinMarketCap data. This move sparked significant activity in spot Bitcoin exchange-traded futures (ETFs), with a record-high of $2.4 billion in trading volume on Monday. Yesterday, MicroStrategy Incorporated announced it has increase its Bitcoin holdings by acquiring around 3,000 BTC for an estimated $155.4 million in cash, highlighting the firm’s continued confidence in

the price of Bitcoin (BTC) is hovering around $53,446
2 months ago 1 min read

Bitcoin (BTC) surges past $53k for first time since 2021 as trading volume soars by 30%

As of this writing, the price of Bitcoin (BTC) is hovering around $53,446. This is the first time it has broken the $53,000 mark since 2021. The largest crypto by market cap reached over $53,600, according to CoinMarketCap. With over a 3.8% increase over the previous 24 hours, Bitcoin was trading at $53,455 as of press time. Aside from Bitcoin, Ethereum, the second-largest crypto, has risen by over 4% from its intraday low and is now trading above $3,155. However, the ETH-BTC ratio is down 2.10%. This indicates the strength of the Bitcoin-led rise. Trading volume across the board went

The most current data available from CoinShares indicates that last week saw record inflows of $2.45 billion globally into crypto funds
2 months ago 1 min read

BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares had record inflows of $2.45 billion last week

The most current data from CoinShares indicates that last week saw record inflows of $2.45 billion globally into crypto funds managed by asset managers. This includes BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares. With $5.2 billion raised for digital asset investment products so far this year, the new US-listed Bitcoin exchange-traded funds (ETFs) have proven to be the most successful thus far. According to CoinShares Head of Research James Butterfill, assets under management (AUM) at crypto investment firms have surpassed $67 billion, the highest amount since December 2021, the height of the previous bull market. Not to mention the recent

Bitcoin to $150,000 Soon
2 months ago 1 min read

Bitcoin to $150,000 Soon, Predicts This Hedge Fund Veteran

Mark Yusko, the founder and CEO of Morgan Creek Capital, thinks that the Bitcoin (BTC) bull market just started. Yusko claims that BTC may reach $150,000 by the middle of next year in an interview on The Wolf of All Streets YouTube channel. He notes that this price will double the fair value of BTC. Yusko claims that the number of Bitcoin miners and users and the network effects of the crypto are used to estimate the fair value of Bitcoin. Mark Yusko says, “It’s possible that [Bitcoin’s] fair value only goes to $75,000 or $80,000 [this bull cycle]. Let’s

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