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HSBC Holdings Plc to acquire SVB UK for £1. SVB UK had loans of £5.5bn and deposits of £6.7bn as of March 10, 2023.
#HSBC
#SVB
#crypto2023
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#Bitcoin whales took advantage of the recent price dip, accumulating more assets and creating 342 new wallets. Bitcoin has had a volatile week, briefly peaking at $100,400 on Monday before dropping below $94,400. Meanwhile, Bitcoin is recovering toward the $100K level again, highlighting ongoing market fluctuations. Remarkably, large-scale Bitcoin holders, commonly known as whales, demonstrated notable activity amid this price movement. #CryptoNewsUSA
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Another ambitious #Bitcoin price prediction emerges after Binance co-founder Changpeng Zhao asserted that the asset could skyrocket by more than 8x. Notably, Bitcoin’s growing traction has come with higher price expectations as several industry leaders have thrown in their thoughts on the asset’s short-term and long-term performance. The former Binance CEO recently predicted Bitcoin’s future outlook, insisting it would trump the market cap of gold. Bitcoin to $850,000: CZ In his session at the Bitcoin MENA 2024 conference in Abu Dhabi, Zhao insinuated that Bitcoin would surge past $850,000. He drew the price assertion from the theory that Bitcoin would surpass gold’s $16 trillion market cap. The former CEO stated that the Bitcoin growth trajectory would trounce that of gold, as the former is a new technology and the latter an old financial tool. He insisted that comparing Bitcoin to gold does not add up, as the digital asset has several advantages and “could do more” than the precious metal. As a result, he maintains that Bitcoin would birth an industry larger than gold’s empire. Notably, if it attains the market cap of gold, which is currently $18.25 trillion, Bitcoin will trade at $921,976 per coin. #CryptoNewsUSA
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"Mantra Eyes Explosive Breakout: OM Price Set to Smash $5 Barrier"
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Microsoft shareholders reject a proposal to incorporate #Bitcoin as a treasury asset despite advocacy from MicroStrategy’s Michael Saylor. This decision reflects the cautious stance of the company’s leadership toward crypto assets. The proposal aimed to encourage Microsoft’s board to assess Bitcoin’s role in diversifying the company’s treasury. Its rejection highlights the ongoing debate about corporate adoption of Bitcoin. Proposal Pitched Bitcoin as Inflation Hedge Microsoft’s proxy statement outlined the proposal, highlighting Bitcoin’s strong historical performance compared to traditional corporate bonds. Proponents argued that adding Bitcoin to the company’s assets could improve its financial resilience by diversifying its treasury holdings. However, Microsoft’s board recommended against the proposal, citing concerns over Bitcoin’s volatility and preferring the stability of traditional investments for its financial strategy. Shareholders ultimately sided with the board’s recommendation, signaling limited interest in exploring cryptocurrency investments at this time. The board’s position aligns with advisory firms like Glass Lewis, which opposed the proposal. These firms pointed out the lack of concrete evidence that cryptocurrencies can enhance corporate returns. Ultimately, their position proves the broader hesitancy among large corporations to adopt Bitcoin amidst its unpredictable value fluctuations. #CryptoNewsCommunity
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As Bitcoin’s price experiences a short-term recovery, hovering around the $97,000-$98,000 mark, altcoins are quickly bouncing back. Among the top-performing altcoins, #Raydium leads the way with a 7.68% rise over the past 24 hours. Raydium Price Analysis On the daily chart, Raydium’s price action shows a strong rally, followed by a pullback. However, the bullish recovery has absorbed the pullback range, which extended from $6.50 to the $4.43 support level. This pullback represented a nearly 32% drop over 17 days. However, the bullish momentum has picked up with an overnight surge of 10.36%, followed by a 6.02% intraday gain. Raydium has surpassed the psychological $5 mark and is currently trading at $5.20. This increases the likelihood of a bull run towards the immediate trend-based Fibonacci level of 23.6% at $5.65. Additionally, the MACD and signal lines on the 4-hour chart are preparing for a bullish crossover, supporting the chances of a continued turnaround. On the daily chart, trend-based Fibonacci levels project the recovery rally to reach the 50% Fibonacci level at $7.01, potentially setting a new all-time high by the end of December. #CryptoNewss
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