Stripe bindet den Stablecoin USDC ein und ermöglicht seinen Nutzern damit erstmals wieder Krypto-Zahlungen.
US-Wahlen werden Bitcoin nicht aufhalten – Dan Tapiero zuversichtlich
Der Investmentexperte Dan Tapiero sieht Bitcoin inzwischen als stark genug an, um nicht vom Ausgang der US-Präsidentschaftswahlen beeinflusst zu werden.
MicroStrategy’s endgame is to be the leading Bitcoin bank: Michael Saylor
- MicroStrategy aims to become the world’s leading Bitcoin bank, holding 252,220 BTC.
- The company invests borrowed funds in Bitcoin, expecting 29% annual returns.
- Saylor’s goal is to grow MicroStrategy into a trillion-dollar bitcoin-driven entity.
Michael Saylor, founder and executive chairman of MicroStrategy, in an interview with analysts at research and brokerage firm Bernstein outlined a clear vision for the future of his company. According to Saylor, MicroStrategy aims to become the world’s leading Bitcoin bank.
Saylor believes that Bitcoin (BTC) is not only the top-performing asset of the 21st century but also the cornerstone of a revolutionary financial system and his ultimate goal is for MicroStrategy to transform into a trillion-dollar company by leveraging the potential of Bitcoin (BTC).
MicroStrategy’s Bitcoin accumulation strategy
MicroStrategy’s recent acquisition of 7,420 BTC demonstrates its aggressive approach toward bitcoin accumulation, using both debt and equity to maximize returns. The company’s total investment in BTC is estimated to have cost around $9.9 billion, alongside a debt burden of $4 billion.
As a result, MicroStrategy now controls about 1.2% of the total Bitcoin supply, reinforcing its prominent position in the market.
Currently, with over 252,220 BTC in its reserves, currently valued at more than $15 billion, MicroStrategy holds the title of the largest corporate Bitcoin holder globally.
Saylor’s long-term thesis is that Bitcoin’s scarcity and volatility make it a superior asset for hedging against inflation and storing value. He foresees Bitcoin eventually reaching millions of dollars per coin, and with continued investment, MicroStrategy could grow into a trillion-dollar entity.
Saylor envisions the firm issuing various financial instruments such as equity, convertible debt, and preferred stock tied to Bitcoin, which would further cement its role in the emerging Bitcoin economy.
Saylor also emphasizes the attractiveness of Bitcoin over traditional lending models. He argues that lending to Bitcoin, by investing in it directly, offers better returns with less risk compared to lending to individuals or corporations. He plans for MicroStrategy to continue borrowing funds to invest in Bitcoin without lending out the Bitcoin itself, minimizing counterparty risk.
In the broader context of corporate bitcoin adoption, MicroStrategy’s model stands out. While other companies in the crypto space, like Marathon and Block, have adopted Bitcoin as part of their treasury strategy, MicroStrategy’s focus and scale make it unique.
Saylor remains confident that MicroStrategy’s business model, which bridges traditional USD capital markets with Bitcoin, will be difficult for others to replicate, positioning the firm as a pioneer in the Bitcoin-driven financial landscape.
A Bitcoin bank that doesn’t lend out funds
Unlike traditional banks that lend out funds, MicroStrategy’s business model revolves around borrowing money at low interest rates and investing those funds in Bitcoin.
By offering slightly higher rates to lenders and expecting Bitcoin’s annual growth to average around 29%, the company is positioned to outperform many conventional investments.
Saylor’s strategy hinges on capital markets arbitrage, where MicroStrategy capitalizes on the difference between USD capital and Bitcoin’s appreciation, allowing them to generate significant returns.
MicroStrategy’s bold ambition to become a trillion-dollar Bitcoin bank reflects Saylor’s unwavering belief in Bitcoin’s potential as the world’s most valuable asset.
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Crypto whale loses $35M on Blast Network in phishing attack
- A crypto whale has lost $35M in fwDETH on Blast network due to phishing permit attack.
- The attacker drained 15,079 fwDETH, causing price drop from $2,000 to $100.
- The incident has raised security concerns in DeFi, impacting Blast network scrutiny.
A crypto whale recently lost approximately $35 million worth of Few Wrapped Duo ETH (fwDETH) tokens in a major phishing attack on the Blast network.
The attack, first flagged by Scam Sniffer and later confirmed by security firms PeckShield and BlockSec, occurred after the victim unknowingly signed a fraudulent “permit” signature, which allowed the attacker to siphon funds from their wallet.
What is Few Wrapped Duo ETH (fwDETH)?
Few Wrapped Duo ETH, or fwDETH, is a wrapped version of Duo ETH (DETH), a derivative of Ethereum (ETH) issued by Duo, a decentralized finance (DeFi) protocol operating on the Blast network.
The stolen tokens, 15,079 fwDETH in total, represent a significant loss for the whale, whose wallet address is identified as 0xEab2E…a393.
How was the phishing attack on Blast orchestrated?
Security experts noted that the phishing attack was executed by tricking the whale into signing an offline “permit” message, which is commonly used in DeFi transactions to authorize token transfers without directly using private keys.
According to Yajin (Andy) Zhou, co-founder of BlockSec, the signed permit message was then exploited by the attacker to drain the fwDETH tokens from the victim’s account.
This incident had immediate consequences not just for the whale but also for the price of DETH.
Within hours of the attack, the price of DETH plummeted by over 38%, dropping from $3,482 to $2,150 as the attacker liquidated the stolen tokens.
The price of fwDETH also dropped by over 90% from $2,000 to $100. While the token price later stabilized and partially recovered to $1,000, the sharp decline caused shockwaves across the Blast network and the broader crypto community.
This phishing attack underscores the persistent security risks facing crypto investors, especially those holding large volumes of digital assets.
The Blast network and associated protocols may now face heightened scrutiny as a result of the incident.
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SEC Commissioner says agency’s approach to crypto has been a “disaster for the whole industry”
- SEC Commissioner Mark Uyeda said the agency hasn’t provided guidance on securities laws
- His comments come as Crypto.com sues the SEC for overreaching its regulatory authority over crypto after receiving a Wells notice
A US Securities and Exchange Commission (SEC) commissioner has said that the agency’s approach to crypto has been a “disaster for the whole industry.”
Speaking on Fox Business Mornings with Maria, Mark Uyeda, commissioner of the SEC, said: “I think our policies and our approach over the last several years have been just really a disaster for the whole industry.”
Uyeda added: “What has gone on is part of a broader frustration with the fact that we have not provided interpretive guidance as to what you can and cannot do and if you are involved in some sort of securities offering, how you register, how you get regulated as a broker-dealer, how you get registered as an exchange.”
His comments come after Crypto.com sued the SEC for overreaching its regulatory authority over crypto in response to a Wells notice the exchange received.
More recently, the SEC sued market maker Cumberland for acting as an unregistered securities dealer. Cumberland is reported to have violated securities laws by buying and selling more than $2 billion worth of crypto assets since March 2018.
Crypto exchange Coinbase has also launched its legal offense against the SEC, requesting documents from the agency as to how it determines crypto regulation. However, last month, the regulator sought an extension to February 2025 for it to provide documents in its case against Coinbase.
Ripple Labs is also not backing down against the regulator after filing a notice of cross-appeal in an ongoing battle going back to 2020.
When asked what the SEC could do differently, Uyeda said there is a “need to lay out some clear guidance and interpretations on what exactly falls within and falls outside of the securities laws.”
Billionaire entrepreneur Mark Cuban has said he’d be interested in becoming the chair of the SEC if Vice President Kamala Harris becomes the next President of the White House.
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