Cryptocurrency market overview | 30. April 🟢 Market cap: | Crypto De Nostradame on Binance Square

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Bullish

Cryptocurrency market overview |  30. April
 🟢 Market cap: $2.33 trillion (+0.74%)
 🟢 BTC dominance: 53.44% (+0.32%)
 ⚡️ Fear and Greed Index: 67 (Greed)

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MicroStrategy added 169 more Bitcoins to its wallet. The company's total Bitcoin count has reached 226,500.

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Tether’s $5.2 Billion Profit Kicks Off Major Bitcoin Accumulation and Mining Expansion Tether announced an impressive $5.2 billion net operating profit for the first half of 2023 in its Q2 Endorsement Report. The company achieved a record-breaking $1.3 billion profit in Q2. Importantly, Tether stated that it intends to use a portion of this profit to accumulate Bitcoin, which could be a positive sign for the cryptocurrency. Tether has been actively increasing its Bitcoin holdings since September 2022. In May 2023, the company further strengthened its Bitcoin reserve strategy by allocating 15% of its net realized profit to #Bitcoin purchases. At the time, Tether was known to hold approximately $1.5 billion worth of Bitcoin. According to the latest data from Arkham Intelligence, Tether currently holds 75,354 #BTC , worth approximately $4.8 billion. Tether’s last Bitcoin purchase was in March, when it purchased 8,888 BTC for $626 million. Tether CEO Paolo Ardoino announced that the company’s investment arm purchased Bitcoin in the second quarter of 2023, but it is still unclear whether they will continue these transactions. Tether’s involvement with Bitcoin is not limited to acquiring the cryptocurrency. The stablecoin issuer has also ventured into Bitcoin mining, planning to set up mining operations in Uruguay, Paraguay, and El Salvador. It is also strengthening its presence in the sector by purchasing stakes in existing Bitcoin mining operations. Bill Miller IV, Chairman and Chief Investment Officer of Miller Value Partners, emphasized the advantages of companies holding Bitcoin on their balance sheets. He cited MicroStrategy as an example of a company that has benefited significantly from Bitcoin investments. Under the leadership of co-founder Michael Saylor, MicroStrategy began accumulating Bitcoin in 2020 and increased its market value. Miller noted that other companies are looking to follow MicroStrategy’s strategy, recognizing Bitcoin’s potential to boost financial performance.

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🗣️Fed Chairman Jerome Powell: •The time to cut interest rates is approaching. •We are not considering a 50 basis point cut right now.

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🗣️Fed Chair Jerome Powell: •The downside risks to the Fed's full employment mandate are real right now. •There was serious discussion at this meeting about lowering rates. •A strong majority at the FOMC meeting supported keeping rates unchanged. •A lot of data coming between now and September. •I feel good about where we are. •We are well positioned to respond to any weakness in the economy.

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🗣️Fed Chair Jerome Powell: •I can imagine scenarios ranging from zero rate cuts to multiple rate cuts this year, it will depend on how the economy develops. •We need more good data.

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