Headlines
BTC breaks the $100,000 mark.
OKX market data shows that BTC broke $100,000 at around 10 AM on December 5, currently reported at $99,932, with a 24H increase of 4.43%.
MicroStrategy has generated approximately 119,800 BTC in net gains for shareholders so far this year.
MicroStrategy founder Michael Saylor stated that year-to-date, MicroStrategy's financial operations have achieved a 63.3% return on Bitcoin, providing shareholders with approximately 119,800 BTC in net gains. At a price of $103,000 per Bitcoin, this equates to $12.3 billion in annual profits, making MicroStrategy the most profitable and fastest-growing company adopting the Bitcoin standard.
Data: In 2024, institutional funds have purchased about 3% of the total supply of Bitcoin.
According to Geoff Kendrick, head of global digital asset research at Standard Chartered Bank, in 2024, institutional funds purchased about 3% of the total supply of Bitcoin. When discussing Bitcoin breaking the $100,000 mark, Geoff Kendrick stated, 'Ultimately, it's just a number. But the reality is that Bitcoin has reached this level because the industry, especially this year, has undergone institutionalization—primarily due to ETF inflows.'
The DEXX hacker address began to show unusual activity at 7 AM this morning, with the hacker confirmed to have no intention of returning the funds.
According to cosine monitoring, the EVM (ETH/BSC/BASE) address of the DEXX hacker has started to show unusual activity, with a significant amount of funds (including many MEME) continuously aggregated into 0xffb9926310b291e17d7df846cded66cda2c68228 since around 7 AM. Later, cosine posted, 'Some ETH started entering Tornado Cash for mixing early in the morning, which almost counts as a final signal (the DEXX perpetrators do not intend to turn back, choosing a cruel path to go all the way).'
Industry News
OpenAI launched the 'full version' reasoning model o1 and ChatGPT Pro.
OpenAI founder Sam Altman stated that today’s release is the 'full version' reasoning model o1 and ChatGPT Pro (monthly subscription fee of $200). According to reports, o1 is the world's smartest model, smarter, faster, and with more features (such as multi-modal) than o1-preview. It is now launched in ChatGPT and will soon be available in the API. The newly launched ChatGPT Pro will be able to fully leverage the model and tools, including unlimited access to OpenAI o1 and a version of o1 that is only available in Pro.
The Financial Times in the UK publicly apologized to readers for its negative coverage of cryptocurrency.
The Financial Times in the UK publicly apologized to readers for its negative coverage of cryptocurrency over the past 14 years. The media stated in a statement, 'As Bitcoin's price recently broke through $100,000, a significant number of commentators believe we should apologize to readers for our long-standing cynical attitude. Therefore, for the past 14 years, if you decided not to buy those goods based on our reporting, which later appreciated in price, we sincerely apologize. The price increase is certainly delightful. At the same time, if you misunderstood our cynical attitude towards cryptocurrency as support for traditional finance, we deeply apologize, as we despise that behavior as well.'
Analysis: The launch of Unichain by Uniswap could lead to annual income losses of about $400 to $500 million for Ethereum network validators.
Uniswap Labs recently announced the launch of its new blockchain, Unichain, while Uniswap has long been a key driver of activity on the Ethereum mainnet. With Uniswap transitioning to its own chain, Ethereum network validators could potentially lose around $400 million to $500 million in annual revenue. But more severe than this economic loss is the threat to Ethereum's fundamental narrative as a deflationary currency. Uniswap's universal router is the largest account consuming gas fees, accounting for 14.5% of Ethereum's gas fees, equivalent to the destruction of $1.6 billion worth of Ethereum. This means the effect of the destruction mechanism will weaken, further undermining Ethereum's economic status.
The U.S. spot Bitcoin ETF achieved approximately four times growth in just 227 trading days.
According to data disclosed by Trader T on the X platform, BlackRock's IBIT grew from $0 to $53 billion in just 11 months, and the U.S. spot Bitcoin ETF achieved approximately four times growth in only 227 trading days.
NASDAQ-listed company Semler Scientific increased its holdings by 303 BTC, currently holding a total of 1,873 BTC.
According to official news, NASDAQ-listed company Semler Scientific announced that it has spent $29.3 million to acquire 303 BTC, with an average price of $96,779. As of December 4, 2024, Semler Scientific holds a total of 1,873 Bitcoin. In response, MicroStrategy founder Michael Saylor stated that Semler Scientific is a company above the Bitcoin standard.
Industry insiders: Pushing enterprises to include BTC in their balance sheets requires more traditional financial institutions like Morgan Stanley to enter the market.
Anthony Rousseau, product manager for brokerage solutions at TradeStation, stated that one of the key factors for more companies to include Bitcoin on their balance sheets is the entry of more traditional financial institutions like Morgan Stanley into this space, and banks need to take custody of cryptocurrencies. Industry insiders also hope to see the SEC change its accounting guidelines, which require publicly traded companies, including banks, to classify their custody of cryptocurrencies as liabilities on their balance sheets. Under this guideline, banks must reserve assets of equivalent value to prevent losses and meet capital requirements.
Project News
The daily trading volume on the Base network reached 8.8 million transactions, setting a new historical high.
According to data from The Block, the daily trading volume on the Base network reached 8.8 million transactions, setting a new historical high, with a total locked value (TVL) of $3.6 billion, and a net inflow of $227 million over the past seven days, surpassing Solana's $71 million during the same period. On November 28, the Base network fees reached a three-month high of $766,000.
Lido: wstETH is now live on Starknet.
Lido announced on the X platform that wstETH is now live on Starknet, allowing users to bridge their wstETH tokens to Starknet and access the DeFi ecosystem of that network while benefiting from lower gas costs and faster transaction speeds in L2.
Circle has partnered with payment infrastructure Pockyt to support USDC merchant-side transactions.
According to official news, Circle announced a partnership with payment infrastructure Pockyt to support USDC merchant-side payment transactions. This collaboration will redefine business possibilities by integrating stablecoin payment processing into Pockyt's ecosystem, providing merchants with safe, efficient, and cost-effective solutions for cross-border commerce using USDC. In addition to integrating USDC, Pockyt will also utilize Circle's programmable wallet, connecting traditional Web2 financial systems with Web3's decentralized capabilities, allowing thousands of merchants and over one million Pockyt users to transition seamlessly between Web2 and Web3.
Bitdeer: 150 BTC were produced from self-mining in November.
NASDAQ-listed company Bitdeer released unaudited mining and operational update data for November 2024, disclosing that it produced 150 BTC from self-mining in November, and additionally increased its client-hosted machines by 11,000 units.
Core Scientific: 314 BTC were mined in November.
NASDAQ-listed Bitcoin miner Core Scientific released an unaudited production and operational update report for November 2024, disclosing that its mining output in November was 314 BTC, and as of the end of the month, approximately 172,000 Bitcoin mining machines were operating in data centers for self-mining and hosting, with a total hash rate of 20.3 EH/s.
NASDAQ-listed company Worksport plans to invest part of its cash reserves in BTC and XRP.
Worksport is a small company listed on NASDAQ, investing a portion of its cash reserves in Bitcoin and XRP. The company announced that it will allocate 10% of its cash reserves (up to $5 million) to cryptocurrencies, although this proportion may change in the future. Worksport CEO Steven Rossi stated that he has personally invested in XRP for some time and firmly believes in decentralization.
Bitcoin miner BitFuFu: currently holding 1,664 BTC.
Bitcoin mining company BitFuFu announced that it currently holds 1,664 BTC. BitFuFu Chairman and CEO Leo Lu stated, 'We have been refining our BTC funding strategy and have a dedicated team managing our BTC assets. We can dynamically shift available hash rates between self-mining and cloud mining, providing BitFuFu with flexibility to benefit from bull markets and reduce income volatility during bear markets.'
Aethir: Fully supports technological innovation for AI agents and has the necessary capabilities to support large-scale AI agent development.
Decentralized cloud infrastructure provider Aethir stated that the number of AI companies developing variants of AI agents for different industries is growing exponentially, and Aethir has the necessary decentralized infrastructure to accommodate this growth. For example, Aethir recently launched a $100 million ecosystem fund aimed at supporting AI builders in launching innovative projects like AI agents across various industries. Aethir has now announced two rounds of projects funded by its ecosystem fund, with the first round including: Creator.Bid, Moemate, Capx AI, FOMO, and Top Hat AI; the second round includes: BitGPT, Humans.ai, Church of The Overseer, ARC Agents, and OPUS.
Investment and Financing
Blockchain platform Haven1 completes $4.6 million financing, with participation from Animoca Brands and others.
Blockchain platform Haven1 announced the completion of a $4.6 million private placement, with participation from Animoca Brands and KuCoin Ventures. The new funds are intended to enhance Haven1's blockchain infrastructure, focusing on improving decentralized finance and the tokenization of real-world assets.
Decentralized protocol Prosper has completed a strategic round of financing, with participation from Metalpha and others.
Decentralized protocol Prosper announced the completion of a strategic round of financing, with participation from Metalpha, Waterdrip Capital, BIT Mining, and Satoshi Protocol, although specific amounts have not been disclosed. Prosper aims to tokenize institutional-level Bitcoin hash rates into fully on-chain RWAs to unlock Bitcoin's potential.
Previous news, Animoca Brands announced plans to increase its holdings of Prosper tokens PROS through the public market.
Sol Strategies, focused on investing in the Solana ecosystem, has applied for a NASDAQ listing.
According to a post by SolanaFloor on the X platform, Canadian holding company Sol Strategies, focused on investing in the Solana ecosystem, has applied for a listing on NASDAQ. It is reported that Sol Strategies currently holds $30 million worth of SOL.
AI startup Sekai, based on Story, completed a $3.1 million seed round financing led by Hashed.
Generative AI storytelling startup Sekai announced it has completed a $3.1 million seed round financing led by Hashed. Sekai aims to use the Story protocol to turn storytelling into a 'multiplayer experience', allowing aspiring storytellers to leverage its platform to co-create with others with the help of generative AI. Meanwhile, Sekai hopes to empower creators to protect their intellectual property and profit from their creations.
NVIDIA plans to acquire the AI medical technology company Vinbrain.
NVIDIA CEO Jensen Huang stated that NVIDIA will acquire Vinbrain, an AI medical technology company of the Vingroup. VinBrain is a medical AI technology company invested by Vietnam's Vingroup group, focusing on improving medical diagnostics and hospital data management through AI technology.
Crypto venture Dattice is raising funds for its third fund.
According to a filing submitted to the U.S. Securities and Exchange Commission on Monday, Lattice, which has been investing in cryptocurrencies since 2021, is raising funds for its third fund, though the size of the fund was not specified.
It is reported that in 2022, this venture capital firm specializing in early-stage cryptocurrency startups raised a $60 million fund, three times its initial capital.
According to PitchBook data, the firm has invested in 81 projects. Two of the most prominent investments are in the cryptocurrency bug bounty platform Immunefi and the core developer of the decentralized cloud storage network Filecoin, Protocol Labs.
Bitcoin ecosystem DeFi service Torram has received strategic support from Blockchain Founders Fund.
Bitcoin ecosystem DeFi service Torram announced it has received strategic support from the Blockchain Founders Fund, with specific amounts not disclosed. Torram aims to accelerate the realization of institutional-level DeFi and the tokenization of real-world assets on Bitcoin through secure on-chain data indexing and a decentralized oracle network, enabling financial institutions to leverage Bitcoin infrastructure to enhance liquidity.
Regulatory Trends
Florida, USA, is expected to launch a strategic Bitcoin reserve in the first quarter of 2025.
According to The Street, Florida, USA, is expected to launch a strategic Bitcoin reserve in the first quarter of 2025. Samuel Armes, chairman of the Florida Blockchain Business Association (FBBA), stated that Florida is 'very likely to establish a strategic Bitcoin reserve during the upcoming legislative session (beginning in the first quarter of 2025).' The plan is reportedly based on Florida's existing investments in Bitcoin and crypto-related assets, which are made through its $185.7 billion pension fund, the fourth-largest pension fund in the U.S. Armes stated, 'Florida has already invested in Bitcoin and crypto-related assets through our pension fund.' He suggested allocating 1% of Florida's $185.7 billion pension fund, which amounts to $1.857 billion.
Wells Fargo: The futures market is digesting the Federal Reserve's decision to cut rates by 25 basis points.
Wells Fargo managing director and senior economist Sarah House and economic analyst Aubrey Woessner indicated that the U.S. November CPI may show that progress against inflation is stagnating. The unadjusted CPI annual rate is expected to rise from 2.6% to 2.7%. They believe that the unadjusted core CPI annual rate will remain in a narrow range of 3.2%-3.3% for the sixth consecutive month. While some inflation factors, such as an overheated labor market, continue to fade, new resistances unfavorable to inflation's decline have emerged, including the possibility of tariffs and tax cuts. The U.S. November CPI report is scheduled to be released next Wednesday, a week before the Federal Reserve's interest rate decision. The futures market is currently digesting the Federal Reserve's decision to cut rates by 25 basis points.
Putin may incorporate cryptocurrency into the BRICS investment platform as a potential settlement method.
Russian President Vladimir Putin considers cryptocurrency as a potential settlement method for the BRICS investment platform. Putin stated that work on the platform has already begun, and crypto assets could have a place in the settlement tools of the investment platform. The BRICS group is relentlessly pursuing a de-dollarization financial system. At the 'Call of Russia' forum hosted by VTB Bank, one of Russia's largest financial institutions, Putin mentioned crypto assets and acknowledged that experts predict global growth will benefit from these assets and their use in relevant financial infrastructure.
Voices from the Industry
Placeholder partner: The total market cap of cryptocurrencies is unlikely to reach the $10 trillion target in this cycle.
Placeholder partner Chris Burniske posted on the X platform, 'People won't like me saying this, but if $10 trillion is the target for this cycle, then we are likely unable to achieve this goal in this cycle. For example, the $100,000 BTC and $10,000 ETH calls were everywhere in 2021, when our tops were about $70,000 and about $5,000 respectively, and now $BTC has just reached that target; that's the lesson.'
CryptoQuant: The profit-taking by long-term Bitcoin holders is a normal phenomenon in a bull market and has not yet reached extreme levels.
CryptoQuant analysts indicate that after BTC broke the $100,000 mark, long-term Bitcoin holders (LTH) began realizing profits. CryptoQuant data shows a significant increase in the 'Long-term Holders Spent Output Profit Ratio' (LTH-SOPR), which measures the profit level of long-term Bitcoin investors by comparing the selling price of Bitcoin to the price they initially paid. CryptoQuant research director Julio Moreno said, 'As Bitcoin's price rises above $100,000, long-term holders (LTH) have been cashing out, as indicated by the LTH SOPR rising to 4, suggesting that the tokens sold by long-term holders have achieved four times their original purchase price. This is, however, typical during Bitcoin bull markets, and profit-taking has not yet reached extreme levels.'
Former U.S. Treasury Secretary: The U.S. Bitcoin strategic reserve plan is too crazy and merely caters to special interest campaign donors.
Former U.S. Treasury Secretary Lawrence Summers dismissed the idea of the government establishing a Bitcoin asset reserve, calling it 'too crazy' and merely catering to special interest campaign donors. During Trump's campaign, there were proposals for the government to retain tokens, with allies wanting to scale up to reduce national debt, and appointing cryptocurrency supporters as SEC chair. Summers also stated that Musk's plan to cut $2 trillion in spending is politically very difficult to achieve.
Solana co-founder: 'We are fortunate' to solve Solana's engineering problems through memecoins, making it more resilient.
Solana co-founder Anatoly Yakovenko stated that the rise of memecoins has stress-tested the Solana network, making it more resilient and turning past disruptions into opportunities for innovation. He said, 'Just like NFTs... we were fortunate to solve a lot of engineering problems with memecoins, which only makes the network and all systems more robust.' Regarding the popularity of memecoins on Solana, Yakovenko said he was initially surprised but, in retrospect, it was not so surprising. He said, 'In almost all digital economies, entertainment is the largest area for monetization... when I started to think back, it was almost obvious.'
Bitget Research: The next potential resistance level for Bitcoin is $150,000, even $200,000.
Bitget Research Chief Analyst Ryan Lee stated that Bitcoin reaching $100,000 marks a key milestone, highlighting its increasing popularity and perceived value. Analysts are now shifting their attention to the next potential resistance level, targeting $150,000 or even $200,000, with the market's cautious reaction suggesting there may still be room for growth.
Tether CEO: The Bitcoin purchasing frenzy and ETF inflows have led to an increase in the market cap of USDT.
Tether CEO Paolo Ardoino attributed the rise in USDT's market cap to significant inflows into spot Bitcoin ETFs and the Bitcoin purchasing frenzy led by Michael Saylor. Ardoino revealed that in just the past 20 days, Tether's market cap has increased by about $16 billion, partly due to large amounts of money flowing into spot Bitcoin ETFs, as many have started buying Bitcoin at a very fast pace, especially after the U.S. elections.
Robinhood CFO: seeking more merger and acquisition activities.
According to Robinhood's CFO Jason Warnick, the company is seeking more merger and acquisition activities. Currently, Robinhood is completing two new acquisitions: one is TradePMR, a wealth management platform for registered investment advisors, which it acquired for $300 million; the other is a $200 million acquisition of Bitstamp Ltd., a global cryptocurrency exchange founded in 2011 with offices in Luxembourg, the UK, Slovenia, Singapore, and the USA.
Murad: Bitcoin took 10 years to break $100,000, the next target is $200,000.
Meme ecosystem KOL Murad posted on the X platform, 'Bitcoin price has broken $100,000; we waited 10 years for this day. The next target is $200,000.'
Based on its accompanying image, Murad speculates that Bitcoin is expected to break $200,000 by 2026.
Mysten Labs co-founder: Blockchain transaction speeds are expected to surpass Visa in the future.
Mysten Labs co-founder Kostas Chalkias mentioned in a conversation with The Block CEO Larry Cermak that he believes AI will enhance 'smart wallets', improving accessibility for cryptocurrency newcomers, and parallelizing blockchain with other payment platforms. He stated, 'Ultimately, the transaction speeds of blockchains may even surpass Visa.'
Binance CEO: Bitcoin is on the verge of true global mainstream adoption.
Binance CEO Richard Teng stated, 'Since the first block was mined in 2009, nearly 16 years have passed, and Bitcoin has reached the milestone of $100,000 per coin, with a total market cap of $2.1 trillion. This also places Bitcoin firmly among the only seven assets or companies with a market cap exceeding $2 trillion, the others being gold and tech giants NVIDIA, Apple, Microsoft, Alphabet, and Amazon. With discussions about a U.S. strategic Bitcoin reserve and more companies adding it to their treasuries, Bitcoin is on the verge of true global mainstream adoption.'
CoinGecko co-founder: $100,000 marks Bitcoin's acceptance into the mainstream.
CoinGecko co-founder Bobby Ong stated, 'Bitcoin reaching the $100,000 milestone marks an important moment for the cryptocurrency market, reflecting the increasing maturity and mainstream acceptance of this market. The psychological barrier of $100,000 has also attracted new investors and boosted market sentiment. This rise confirms Bitcoin's status as a leading financial innovation and solidifies its reputation as a digital store of value and a tool for hedging against traditional economic uncertainties. It also emphasizes the increasing recognition of cryptocurrency as a legitimate asset class.'
Economists: BTC is no longer an ordinary asset and is proving to be part of the financial sector.
AMP Chief Economist and Investment Strategy Director Shane Oliver stated, 'Over time, it is proving itself as part of the financial sector, more like a store of value rather than an ordinary asset.'
