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We post daily the best Bitcoin, Cryptocurrency & Blockchain News. Admin: @LevoBNTG
🇺🇸 Coinbase CEO says they're the custodian for ~90% of US spot 💰 Bitcoin ETF assets
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💰 MicroStrategy now holds over 1% of bitcoin's total supply after latest purchase
Michael Saylor's MicroStrategy acquired 9,245 more bitcoins for $623 million in cash, increasing its total bitcoin holdings to 214,246 BTC. With this latest purchase, the company now holds over 1% of the total bitcoin supply, comprising 21 million coins. MicroStrategy's latest acquisition took place between Mar. 11 and Mar. 18 at an average price of $67,382 per bitcoin, including fees and expenses, the business software company said Tuesday.
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💰 Over 93% of Bitcoin Mined Ahead of Fourth Halving, Signaling New Era of Scarcity
As of the current moment, 93.6% of bitcoin’s total supply has already been mined, leaving only 1.34 million bitcoins remaining to be extracted. After the upcoming halving event, the issuance rate of the leading digital currency will decelerate, significantly reducing its availability more than ever before. Additionally, post the 2028 halving, miners will receive 1.5625 bitcoin per block as rewards, marking the final occasion that a whole bitcoin will be part of the reward subsidy following the 2032 halving.
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💰 $200B Financial Group Cetera Approves 4 Spot Bitcoin ETFs on Its Platform
Cetera Financial Group, a platform with $475 billion in assets under administration and $190 billion in assets under management, has approved four U.S. spot bitcoin exchange-traded funds (ETFs) for use in brokerage accounts on its platform. “We are prudently embracing bitcoin ETFs and we prioritized developing this important guidance to help our financial professionals implement these products in client portfolios,” said Cetera’s head of investment products.
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💰 Spot ETF net inflows slow as bitcoin retreats from latest all-time high
On Thursday, the U.S. spot bitcoin ETFs saw their net inflows slow to the lowest level so far this month as bitcoin swiftly retreated after reaching its latest all-time high. Net inflows fell to $132.5 million yesterday, heavily impacted by $257.1 million in outflows from Grayscale’s converted GBTC fund, according to data from BitMEX Research. Total net inflows since spot bitcoin ETF trading began on Jan. 11 now stand at just under $12 billion — or over 211,000 in bitcoin terms.
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💰 Bitcoin Brushes $73,794 Peak Before Midday Price Fluctuations
Bitcoin’s valuation experienced a fluctuating day on Thursday, initially dipping below the $70,000 mark at 12:30 p.m. Eastern Time before ascending back above the $70,000 threshold shortly thereafter. In the early hours of Thursday, bitcoin (BTC) reached a new zenith in its price, touching $73,794 momentarily during morning trading sessions. By 2:20 p.m. Eastern Time (ET) on March 14, 2024, BTC was navigating around $70,271 to $70,905 per unit within a 30-minute span.
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🇬🇧 BBC News covers 💰 Bitcoin saying "almost hourly now this virtual currency is hitting new all time highs." 📈
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JUST IN: 🇺🇸 The Biden administration is proposing a 30% tax on electricity used by 💰 Bitcoin miners
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💰 BlackRock and Fidelity's spot bitcoin ETFs nab 69% of market share, eroding Grayscale's dominance
Grayscale's market share of cumulative spot bitcoin ETF trading volume dropped to its lowest point last Friday as rival products offered by BlackRock and Fidelity added to their assets under management. With about $30 billion already under management when its spot bitcoin ETF started trading in January, Grayscale's fund had dominated total daily trading volume.
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🇺🇸 VanEck releases new spot 💰 Bitcoin ETF commercial 📺
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💰 Tom Lee Reveals What Will Drive Bitcoin’s Price to $150,000
Fundstrat’s Tom Lee predicted Bitcoin prices will swell to $150,000 by year’s end on CNBC this week. Moreover, the Bitcoin bull said it’s because of the cryptocurrency’s appeal to Millennials and Gen Z. Speaking with CNBC’s Brian Sullivan on “Last Call,” Lee said, “It’s a generational issue” for Millennials and Gen Z, who are more open to adopting cryptocurrency.
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💰 Spot bitcoin ETF cumulative trading volume crosses $100 billion
After their January debut, the newly launched U.S. spot Bitcoin ETFs kicked off to a roaring start and have now reached a significant level. Over the past two weeks, accelerated activity has pushed the price of Bitcoin to new heights. On Friday, spot Bitcoin ETFs reaching the important trading milestone of over $100 billion, according to Yahoo Finance data compiled by The Block.
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💰 Bitcoin's Hash Price Soars as Average Network Fees Spike by 288%
According to the latest data, bitcoin has been trading above the $67,000 mark, with average network transaction fees experiencing a 288% increase from $3 to $11.64 since Feb. 25, 2024. Meanwhile, BTC has consistently stayed over the $60,000 level for eight straight days, elevating the daily value of one petahash per second (PH/s) of mining power to a seven-day high of $119 on March 4, 2024.
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💰 CEXs saw record-breaking trading volume as Bitcoin touched ATH
On Mar. 5, Bitcoin reached the all-time high it posted in November 2021, breaking through $69,000 in the late afternoon UTC. However, Bitcoin’s stint at its ATH was extremely brief and was quickly followed by a sharp 14% correction that pushed its price down to $59,300. In the early morning of Mar. 6, BTC regained some of its lost footing but struggled to stabilize at $66,000.
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💰 Spot Bitcoin ETFs record $10 billion in daily volume, breaking previous record
Spot Bitcoin ETFs have continued their record-breaking performance this week, recording over $10 billion in volume on March 5 — the highest since their launch in January. The previous record was set on Feb. 28, when the ETFs recorded a collective trading volume of approximately $7.7 billion.
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💰 Institutions look to deploy Bitcoin as liquidity to Lightning Network to earn yield
Bitcoin Lightning Network liquidity provider LQWD Technologies has partnered with Amboss Technologies to establish further institutional liquidity on Lightning. The collaboration positions LQWD to contribute liquidity to Amboss’s marketplace, enabling the fulfillment of market demand for Lightning Network liquidity while generating a yield on LQWD’s Bitcoin holdings.
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💰 $100K to $150K — Traders Target Six-Figure Heights With Long-Dated Bitcoin Call Options
Recent data reveals a significant uptick in open interest for bitcoin futures and options across various trading platforms in recent weeks. On Monday, insights from QCP Capital indicated a notable interest in long-term September and December bitcoin calls, aiming for the lofty six-figure price brackets.
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💰 Bitcoin Is a Top 10 Financial Asset by Market Cap
Bitcoin’s progress as the asset entered the top 10 financial assets in February by surpassing Warren Buffett’s Berkshire Hathaway. A few weeks down the line, BTC’s market cap exceeded $1.4 trillion and surpassed that of Meta and silver, becoming the 8th largest financial asset. The latest declines, though, have halted some of its progress, and BTC is now behind the metal.
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🥇 32MB blocks is how Bitcoin has started - Vitalik
Bitcoin: Has a block size of 1 MB
Bitcoin Cash: Has a block size of 32 MB
Bitcoin SV: Has a block size of 4 GB.
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💰 “They have more to fear by not embracing Bitcoin than by embracing it.” - Saylor
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💰 Microstrategy Announces $500 Million Convertible Note Sale to Boost Bitcoin Holdings
On March 13, the business intelligence company based in Virginia, Microstrategy, unveiled plans to generate $500 million by issuing convertible notes due in 2031. Echoing their previous fundraising efforts, the newly acquired funds are earmarked for bitcoin acquisitions along with covering various general corporate expenditures.
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💰 Spot bitcoin ETF net inflows cross record $1 billion in a single day
Yesterday was yet another day of record inflows for the recently approved spot bitcoin exchange-traded funds in the United States. On March 12, net spot bitcoin ETF inflows hit over $1 billion, according to data from BitMEX Research. At the same time, Blackrock's IBIT product — which, earlier this week, crossed 200,000 BTC in assets under management — saw a record $849 million inflow.
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💰 ARK Invest CEO Bitcoin price target is above 1M by 2030
“Our Bitcoin price target is now well above $1M by 2030, and with our new expectations for institutional involvement, the incremental price that we assume for institutions actually has more than doubled."
- Cathie Wood
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💰 Cathie Wood sees Bitcoin at $1 million sooner than 2030 after record ETF performance
ARK Invest CEO Cathie Wood recently declared that Bitcoin (BTC) will surpass the $1 million mark well before the anticipated year of 2030, which was her firm’s previous bull-case timeline. This updated price target comes as a result of new institutional involvement and significant regulatory milestones, especially the US approval of the first spot Bitcoin exchange-traded funds (ETFs).
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💰 Galaxy Digital CEO Anticipates BTC Reaching $100K This Year Citing 'Runaway Momentum' in Spot Bitcoin ETFs
Galaxy Digital CEO Mike Novogratz firmly believes that bitcoin will reach $100K this year. “Right now there are more buyers and sellers,” he explained, adding that there is “runaway momentum” in bitcoin exchange-traded funds (ETFs). In addition, he pointed to a “new phase of bitcoin” as the asset class welcomes baby boomers. He further asserted that the cryptocurrency “is a report card on fiscal prudence and there’s no fiscal prudence here right now.”
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💰 Mark Cuban tells CNBC that Bitcoin is a "great store of value" and that is why he is invested in it
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💰 Tether co-founder believes Bitcoin could hit $300K based on historic patterns
Tether co-founder William Quigley said Bitcoin could potentially surge to $300,000 at the peak of the current bull market, based on historical patterns of past halvings. He shared the insight during an interview with CNBC, where he discussed the market conditions influencing Bitcoin as the halving approaches. Quigley clarified that his analysis is not a prediction but a possibility if historical patterns hold true.
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💰 BlackRock’s Bitcoin ETF Added a Record 12.6K BTC in Tuesday's Carnage
The BlackRock iShares Bitcoin ETF (IBIT) gobbled up over $778 million worth of bitcoin (BTC) on Tuesday as the fund's investors apparently bought the dip in the world's largest crypto. IBIT added 12,600 bitcoin, breaking previous daily highs of around 10,000. Data from Nasdaq show that the fund recorded trading volumes of more than 107 million shares, or over $3.6 billion price-weighted, surpassing the previous record high of $3.3 billion from last week.
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💰 Bitcoin price breaks above previous all-time high of $69,000 after 846 days
After a 28-month-long period and a top-to-bottom decline of 77%, the price of Bitcoin surpassed its previous all-time high of $69,000 today. It took the market-leading cryptocurrency a total of 846 days to retrace its steps. Bitcoin has appreciated approximately 346% since bottoming out above $15,000 in the latter quarter of 2022. This year alone, it has increased by roughly 70%.
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