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💰 It took 4 years for MicroStrategy to buy 205,000 Bitcoin
📈 It took just a few months for BlackRock to buy 223,645 Bitcoin for its spot Bitcoin ETF
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💰 Cetera Financial Group unveils policy to allow Bitcoin ETF exposure for RIAs, brokers
Cetera Financial Group has introduced a new initiative aimed at supporting financial advisors with the integration of spot Bitcoin ETFs into investment strategies. Cetera has an impressive roster of over 12,000 financial advisors and holds roughly $475 billion in assets under management, making it one of the largest wealth management services in the US.
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💰 Bitcoin maintains price resilience despite increased miner selling
Miners play a pivotal role in dictating Bitcoin's supply dynamics and their decision to sell or hold is a strong indicator of the overall health of the crypto market. A deep dive into Glassnode's latest data reveals a fascinating trend: a gradual yet noteworthy reduction in BTC held in miner wallets, signaling consistent sell pressure. But what's driving this sell-off, and more intriguingly, how have recent monumental market events.
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💰 $1.4 billion of bitcoin mined last year by once bankrupt Core Scientific
Earlier this year, the crypto mining firm Core Scientific emerged from bankruptcy and had its shares relisted on Nasdaq. On Tuesday, the company said that last year, it mined 19,274 bitcoin, worth about $1.4 billion at current prices. Core Scientific reported on Tuesday that it had self-mined 13,762 bitcoin for its own account on top of "an estimated 5,512 for our hosting clients’ accounts." The company also reported a net loss of $195.7 million, which it said was an improvement of $239.2 million.
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💰 Saylor says Bitcoin will ‘eat gold’ in the coming months
MicroStrategy executive chairman Michael Saylor predicted that Bitcoin will “eat gold” in the coming months because it is a far superior asset in every way. The MicroStrategy chair made the statement during a CNBC interview on March 11, where he added that Bitcoin was not only superior to gold but all conventional assets, including real estate and stocks.
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🇺🇸 VanEck releases new spot 💰 Bitcoin ETF commercial 📺
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💰 Unrealistic for Bitcoin to Match Gold’s Investor Allocation: JPMorgan
Analysts at major investment bank JPMorgan Chase have predicted that it will be difficult for bitcoin to match Gold’s current investor allocation of $3.3 trillion. The JP Morgan Bitcoin opinion coincides with the recent achievement of a new All-Time High (ATH) for the premier digital asset, reaching $69.9k. The prediction was made in a recent report penned by senior analyst Nikolaos Panigirtzoglou, as the bank tried to provide “realistic insights” into the bitcoin investment scene.
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💰 Spot bitcoin ETF holdings on track to surpass GBTC today
The nine recently approved spot bitcoin exchange-traded funds in the United States are on track to surpass the Grayscale Bitcoin Trust's holdings today. According to K33 Research senior analyst Vetle Lunde, GBTC held 400,186 bitcoins as of yesterday, while the "newborn nine" U.S. spot bitcoin ETFs held 397,847 coins. They also noted that yesterday's net inflow was 6,965 bitcoins. If this continues, they will outgrow GBTC.
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💰 Total Bitcoin ETF net inflows reach $8.9 billion
BitMEX data showed $332 million in inflows into Bitcoin ETFs, equivalent to 4,995 Bitcoin, on Mar. 6. Leading the charge was BlackRock’s IBIT, which added $282 million to its coffers, bringing its total net inflows to $9.4 billion. This implies that IBIT currently holds around 188,000 BTC. Fidelity’s FBTC wasn’t far behind, maintaining a strong momentum with a robust net inflow of $206 million. This growth brings their total net inflows to $5.6 billion, equivalent to roughly 113,000 Bitcoin, according to BitMEX.
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🇬🇧 UK Launches Consultation on Implementing OECD Crypto Reporting Framework
The U.K. launched a consultation on its plans to implement the Organization for Economic Co-operation and Development's (OECD) crypto reporting framework on Wednesday following its spring budget speech. The Treasury, the government's finance arm, projected in its budget that implementing the crypto reporting framework could draw in £35 million ($45 million) between 2026 and 2027 and £95 million between 2027 and 2028.
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💰 Bitcoin's Test of All-Time Highs Means Old Miners Are Cashing Out
Early miners are sending their old block rewards to exchanges, contributing to selling pressure as bitcoin retreats from testing all-time highs. Bitcoin's rapid price ascent during the last month, which culminated in a new all-time high and quick reversal on Tuesday, has meant that some early miners have started selling their old block rewards – putting pressure on bitcoin's price.
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🇭🇰 Hong Kong regulators warn of increasing crypto exchange impersonation scams
Hong Kong’s Securities and Futures Commission (SFC) has warned the public against suspicious websites impersonating the two licensed crypto exchanges in the city-state, according to a Mar. 4 notice. According to the notice, several sites impersonating the image and branding of both Hash Blockchain Limited and OSL Digital Securities Limited are attempting to trick users. In addition, the financial regulator cautioned that there might be other deceptive platforms impersonating licensed entities.
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💰 World Economic Forum reports bitcoin mining is helping protect endangered animals in Congo’s national forest.
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💰 Bitcoin Cash Soars 40% in 24 Hours as Market Eyes Upcoming Halving and Adaptive Block Size Upgrade
On Saturday, March 2, the valuation of bitcoin cash witnessed a significant increase, climbing over 40% within a 24-hour span to reach a peak of $451 each. This upward trend is attributed to the anticipated halving event, set to happen in 16 days, and the forthcoming 2024 upgrade, which is expected to implement an adaptive block size limit algorithm.
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🪙 Dogecoin Bullish Bets Reach Record $1B
Traders are continuing to use prominent meme tokens as ecosystem bets on their respective blockchains, boosting dogecoin (DOGE) futures to set a record level. DOGE tokens were up as much as 40% before giving back some gains in the past 24 hours as bitcoin (BTC) rallied to over $63,000 from $59,000. DOGE led gains among major tokens and significantly beat the broader CoinDesk 20 (CD20) index, which is up nearly 7.8% in the same period.
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🟠 Binance quietly spun off $10 billion venture arm Binance Labs
Binance, the world’s leading crypto exchange by trading volume, has seemingly spun off its venture capital and incubation arm Binance Labs, according to its website. “Binance Labs is an independent venture and not part of the Binance Group nor is it involved in any of the businesses operated by the Binance Group (including but not limited to the Binance cryptocurrency exchange),” a disclaimer on the site now reads.
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💰 Net $680 million flows into Bitcoin ETFs as Grayscale outflows tick back up to $276 million
Bitcoin ETFs continued their strong performance on March 13, with a net inflow of $683.7 million, according to data from Bitmex Research. This marks another positive day for Bitcoin ETFs, following the surge in inflows seen on March 12. Per Bitmex Research ETF flow data, BlackRock’s iShares Bitcoin ETF (IBIT) again led the way, attracting $586.5 million in new investments. Fidelity’s FBTC fund also maintained its momentum, with inflows of $281.5 million.
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🪙 Ethereum Dencun upgrade day triggers surge in layer 2 protocol token value
The imminent launch of the Ethereum Dencun upgrade at 14.00 UTC today, March 13, has sparked a notable surge in the prices of native tokens for layer-2 protocols, including Arbitrum, Polygon, and Optimism. According to CryptoSlate’s data, the sector has surged by approximately 5% in the last 24 hours, reaching a total market capitalization of $20.21 billion. This growth maintains a consistent upward trend of 10% observed throughout the week.
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💰 Grayscale files S-1 form to launch ‘mini’ GBTC spin-off for investors
Grayscale filed an S-1 form on Tuesday with the U.S. Securities and Exchange Commission to register its new, mini version of its Grayscale Bitcoin Trust (GBTC), named the Grayscale Bitcoin Mini Trust. The mini trust — under the ticker symbol “BTC” — is intended to be a “spin-off” of GBTC, with new shares of the mini trust designed to be distributed to GBTC shareholders as GBTC contributes a certain amount of bitcoin to the trust, according to the S-1 filing.
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JUST IN: 💰 Michael Saylor says Bitcoin is going to "eat" gold and has all the great attributes of gold.
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💰 Tim Draper believes that El Salvador 🇸🇻 could eventually become one of the wealthiest countries in the world thanks to its investment in Bitcoin.
Draper made his statements on a recent episode of the “Web3 Deep Dive” podcast with Rachel Wolfson.
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🟠 Appeals Court Revives Aspiring Class Action Lawsuit Against Binance
A group of investors who tried to sue crypto exchange Binance, former CEO Changpeng Zhao and other executives are getting a new chance after an appeals court reversed a lower court ruling dismissing the case. The Second Circuit Court of Appeals ruled Friday that a putative (or aspiring) class action lawsuit against the world's largest crypto exchange should not have been dismissed by a federal judge in the Southern District of New York.
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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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💰 Bitcoin’s ‘kimchi premium’ hits two-year high in South Korea
The so-called Kimchi Premium in South Korea reached a 27-month high of 10.32% for bitcoin on Wednesday in Asia, according to data from CryptoQuant. Kimchi Premium is a term that refers to the price difference between crypto tokens in South Korea and elsewhere. CryptoQuant’s data compares South Korea’s bitcoin price with that of the USD market. The crypto prices in South Korea differ from those outside the country due to several unique elements of the country’s crypto market.
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💰 Jim Cramer says “better to be lucky than good” when asked about Michael Saylor’s record $7,000,000,000 worth of bitcoin profit
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🐶 Floki Price Surges 100% as Burn Proposal Passes
The price of dog-themed token floki (FLOKI) surged by more than 100% in the past 24 hours as a proposal to burn 2% of the token’s supply was passed by the community, proposal data shows. Nearly 90% of votes favored the burn, with the top voter staking 117 billion tokens. The event is expected to occur after a seven-day period.
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💰 Grayscale CEO says there is ‘insatiable demand’ for spot Bitcoin ETFs
Grayscale CEO Michael Sonnenshein said the financial industry has “never seen such insatiable demand for an ETF wrapper” as it has seen with Bitcoin ETFs. Sonnenshein made the statement during a CNBC interview on March 1, where he shared his insights about the performance of spot Bitcoin ETFs and the market’s response to their recent launch.
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📣 Over $3 billion in crypto tokens set to unlock this March, with Arbitrum ‘massive’ unlock
A total of 32 crypto projects are scheduled to unlock more than $3 billion worth of tokens into circulation this March, according to Token Unlocks data. Arbitrum leads this month’s token unlocks, marking a significant milestone since its initial airdrop. The impending unlock is poised to double the asset’s current circulating supply. Token Unlocks data reveals the project would release more than 1 billion ARB tokens, equating to 87% of its existing circulating supply, by March 16. This influx would be valued at approximately $2.2 billion at current market rates.
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💰 Spot Bitcoin ETF volumes shatter record with massive $7.7B traded
United States spot Bitcoin exchange-traded funds (ETFs) have set a new record for daily trading volumes — beating the previous tally by over one and a half times. The ten ETFs saw $7.69 billion in volume on Feb. 28, per data posted to X by Bloomberg ETF analyst James Seyffart. The previous record was $4.66 billion in volume seen on the fund’s Jan. 11 launch day. BlackRock’s iShares Bitcoin ETF (IBIT) took up 43.5% of the total — seeing $3.35 billion in trading volume and doubling its previous daily record.
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