Key events in the industry:
Coinbase announces plans to expand operations into Southeast Asia, targeting potential markets such as Vietnam and Thailand.
MicroStrategy continues its policy of purchasing more Bitcoin. Today, the company bought an additional 2,000 BTC, bringing its total assets to over 160,000 BTC. This is part of a long-term strategy to solidify its position as one of the largest Bitcoin investors in the world.
Riot Platforms and Marathon Digital Holdings:
These two leading Bitcoin mining companies are facing pressure from rising electricity prices in the U.S. To cope, they have announced plans to use renewable energy to reduce costs and meet sustainable development standards.
3. Situation in the European region:
The European Central Bank (ECB) has published a report showing that the percentage of consumers in the Eurozone holding cryptocurrency has increased to 9% by 2024. This is a positive signal for the development of the industry, especially as regulations are becoming increasingly clearer.
4. General assessment:
The cryptocurrency market is in a phase of adjustment with accompanying opportunities and risks. In the short term, macroeconomic factors such as the Fed's interest rate policy and investors' profit-taking sentiment will continue to have a significant impact on prices. However, the expansion of large institutions like Coinbase and MicroStrategy indicates the long-term growth potential of the industry.
Investors need to closely monitor new developments while being cautious of legal risks and fraud in the industry.