Kategorie: Bitcoin News

Bitcoin news about the Bitcoin (BTC) blockchain and its crypto ecosystem.

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Saylor posts MicroStrategy’s BTC tracker: Another Buy?

  • Michael Saylor, founder of MicroStrategy, has shared the company’s Bitcoin tracker on X.
  • The market expects an annoncement that the company has acquired another chunk of BTC.
  • Bitcoin price hovered near $94,800 at the time of Saylor’s post on Dec. 29

MicroStrategy founder Michael Saylor has posted the company’s Bitcoin (BTC) tracker chart on X again.

In recent months, every such post has been followed by an announcement that the world’s largest corporate holder of the flagship digital asset had acquired another haul.

Industry experts and observers have been quick to point out that MicroStrategy is about to announce another major BTC purchase.

Noticeably, MicroStrategy has acquired additional BTC for billions of dollars in recent months, with these following such hints. The company announced it bought 27,200 BTC worth $2.03 billion on Nov. 10; another 51,780 BTC worth $4.5 billion on Nov. 17 and $5.32 billion for 55,500 BTC on Nov. 24.  The company’s buying spree also saw it add 15,350 bitcoins in mid-December.

MicroStrategy so far holds 444,262 BTC

Most recently, MicroStrategy acquired 5,262 BTC for $561 million, with the acquisition announced on Dec. 23 indicating the company bought at the average purchase price of $106,662 per bitcoin. This brought the total  BTC holdings as of Dec. 22, 2024 to 444,262 BTC, which MicroStrategy has cumulatively acquired for roughly $27.7 billion since 2020.

The average purchase price of this entire haul, its dollar cost averaging, stood at $62,257 per bitcoin at the time of writing. Per Saylor portfolio tracker, the company’s holdings stand at $42.16 billion with Bitcoin price hovering near $94,780. Overall profit is over $14.5 billion.

Here’s Saylor’s latest post on X:

Bitcoin traded above $94k on Dec. 29, holding above the level after bears rejected bulls’ advances near the $100k level. Earlier this month, bulls recovered from lows of $92k – having suffered the massive slump from above the all-time high of $108k.

While BTC price has not skyrocketed amid recent MicroStrategy buys, the market is extremely bullish amid the combination of the buy pressure, spot ETFs demand and other positive catalysts. Analysts say it could rally to $150k-$200k in 2025.

The post Saylor posts MicroStrategy’s BTC tracker: Another Buy? appeared first on CoinJournal.

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Bitwise files new ETF targeting firms with large Bitcoin holdings

  • The Bitwise Bitcoin Standard Corporations ETF would invest in businesses that “hold at least 1,000 Bitcoin”
  • Companies need to have a market capitalization of at least $100 million to be included in Bitwise’s proposed ETF
  • KULR Technology Group started its Bitcoin Treasury strategy with the purchase of 217.18 Bitcoin for $21 million

Bitwise has filed a proposal with US regulators to launch a new exchange-traded fund (ETF) to invest in publicly traded companies that hold substantial Bitcoin reserves.

Under the Bitwise Bitcoin Standard Corporations ETF, the ETF issuer would invest in businesses that “hold at least 1,000 Bitcoin in its corporate treasury,” according to a December 26 filing with the US Securities and Exchange Commission (SEC).

To further qualify to be included in the ETF, companies need to have a market capitalization of at least $100 million, an average daily liquidity of $1 million or more, and a public free float of less than 10%.

The proposed ETF from Bitwise would assign stock weight based on the market value of a company’s Bitcoin holdings, ensuring this is capped at 25%.

Reaching new heights

The news comes as Bitcoin has experienced a rise in value following the US election win of President-elect Donald Trump. At its peak, Bitcoin reached a new all-time high above $107,000 earlier this month. In a client memo in November, Bitwise’s CIO Matt Hougan said the US election was either going to be a “speed bump” or a “wind gust” for the crypto market.

Significantly, in recent weeks, more companies have been buying Bitcoin to push up stock prices. On December 23, MicroStrategy announced on X that it now holds 444,262 Bitcoin after acquiring a further 5,262 Bitcoin for $561 million.

In other related news, KULR Technology Group announced on December 26 that it had started its Bitcoin Treasury strategy with the purchase of 217.18 Bitcoin for $21 million.

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KULR launches Bitcoin treasury with $21m BTC purchase

  • The $21 million BTC purchase follows the KULR’s announcement on Dec. 4.
  • Other companies to launch a Bitcoin treasury strategy in recent weeks include Rumble, Marathon Digital, Semler Scientific and Thumzup.
  • MicroStrategy is the biggest corporate holder of Bitcoin with over 444k BTC

KULR Technology Group, Inc., listed on the New York Stock Exchange, is the latest tech company to adopt Bitcoin as a treasury asset.

A few weeks after the energy management platform announced plans to add BTC to its treasury, the company announced on Dec. 26 that it had officially begun the initiative. KULR said in a press release that its first purchase involved 217.18 bitcoin acquired for $21 million.

KULR’s bitcoin bag was acquired at the average purchase price of $96,556.53 per BTC.

On Dec. 4, when the publicly-listed company disclosed its Bitcoin treasury strategy, it revealed plans that included allocating up to 90% of the firm’s surplus cash to the flagship cryptocurrency.

With sentiment extremely bullish amid the anticipation around pro-crypto Donald Trump’s administration, several companies have adopted or disclosed plans to add BTC to their treasury strategies..

These include Rumble, Boyaa Interactive, Thumzup and BTC miner Marathon Digital.

Metaplanet became known as ‘Asia’s MicroStrategy’ after adopting the BTC strategy to lead the Asian charge. MicroStrategy has regularly bought Bitcoin since its first purchase in 2020, and currently holds 444,262 BTC acquired for over $27 billion.

“The $21 million of BTC purchased since the announcement is the first of ongoing purchases the Company intends to make going forward,” KURL noted in its announcement on Boxing Day. Coinbase Prime will offer custody and wallet services for KURL’s haul of BTC.

Bitcoin traded around $95,670 at the time of writing, about 3% down in the past 24 hours.

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Ethereum ETFs inflows surge as Bitcoin ETFs see major outflows

  • Ethereum ETFs inflows are outdoing Bitcoin ETF inflows.
  • BlackRock’s iShares Ethereum Trust (ETHA) ETF leads with a $89.51M inflow on Dec 23, 2024.
  • This Market shift may signal an altcoin season in 2025.

In a surprising turn of events in the cryptocurrency market, Ethereum spot ETFs have been experiencing significant inflows, overshadowing the outflows noted in Bitcoin ETFs.

On December 23, 2024, Ethereum ETFs recorded a net inflow of $130.8 million, with BlackRock’s iShares Ethereum Trust (ETHA) ETF leading with $89.50 million and Fidelity’s Ethereum ETF (FETH) adding $46.40 million according to Coinglass data. In stark contrast, Bitcoin ETFs saw outflows totalling $226.50 million on the same day.

This trend has been consistent over recent weeks. For instance, on December 12, Ethereum spot ETFs had a cumulative net inflow of $273.70 million, continuing their streak of 14 consecutive days with positive inflows. BlackRock’s ETHA ETF alone saw a single-day net inflow of $202.30 million, while Grayscale’s Ethereum ETF (ETH) contributed $73.20 million.

Ethereum ETFs inflows
Source: Coinglass
Bitcoin ETFs inflows
Source: Coinglass

The shift signals a possible start of an altcoin season

Bitcoin ETFs, despite having higher trading volumes, have been facing outflows, suggesting a possible shift in investor sentiment towards Ethereum.

Market analysts speculate that this could signal the onset of an ‘altcoin season’, where investors might be diversifying their portfolios beyond Bitcoin, with ETH leading the pack.

This shift in investment flow is particularly notable as it comes at a time when Bitcoin has been dominating headlines with its price performance, reaching over $108,000 earlier in December.

The underlying reasons for this trend might include Ethereum’s growing ecosystem, particularly in decentralized finance (DeFi) and non-fungible tokens (NFTs), which could be attracting investors looking for dynamic growth opportunities.

Additionally, the regulatory environment under the incoming administration might be perceived as more favourable for Ethereum, given its broader use-case applications beyond just being a store of value like Bitcoin.

This development raises questions about the future direction of crypto investments. While Bitcoin has long been the bellwether of the crypto market, Ethereum’s recent performance in the ETF space might hint at a rebalancing of investor interest, potentially leading to more balanced growth across different cryptocurrencies in 2025.

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Avalon Labs raises $10m in series A round

Avalon Labs, the issuer of Bitcoin (BTC)-backed stablecoin USDa, has secured $10 million in a Series A financing round that attracted several venture capital firms.

“We are known for many things but today is not about us. The team from Avalon Finance is honored to announce the closing of our 10M Series A Round,” the platform posted on X.

Venture capital firm Framework Ventures led the funding round, which attracted the participation of UXTO Management, Prestoby Framework Ventures and Kenetic Capital.

In an announcement, the Avalon Labs team said the project will use the funding support to expand its BTC decentralized finance ecosystem.

In this case, Avalon’s aim is to evolve Bitcoin from being just a digital store of value to a robust financial instrument.

“We are pioneering the future of Bitcoin-backed financial solutions, creating the first comprehensive ecosystem that unlocks the true potential of the world’s leading cryptocurrency” the Avalon team wrote.

Avalon’s USDa stablecoin allows users to tap into DeFi on Bitcoin by collateralizing it. The platform’s borrowing rate is fixed at 8%, which allows USDa holders to access liquidity while keeping their BTC positions.

USDa, Avalon’s flagship collateralized debt position (CDP), ranks as the second-largest CDP per data from DeFiLlama. Its TVL hit $700 million in early December and its competitors include MakerDAO’s DAI and Liquity

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