1. MicroStrategy acquires 2,138 BTC for $209 million
MicroStrategy has purchased 2,138 BTC for approximately $209 million, at an average price of $97,837, achieving a 47.8% BTC return for the quarter to date and a 74.1% BTC return year-to-date. As of December 29, 2024, MicroStrategy holds 446,400 BTC, with an average cost of $62,428 and a total cost of $27.9 billion.
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2. Grayscale Research updates the list of the top 20 assets in the crypto industry for Q1 2025
Grayscale Research updates the list of the top 20 assets in the crypto industry for Q1 2025, adding HYPE, ENA, VIRTUAL, JUP, JTO, and GRASS; tokens removed include: NEAR, STX, MKR, CELO, UMA, and TON. Grayscale stated that this quarter will focus on tokens that are at least related to one of the following three core market themes: the U.S. election and its potential impact on industry regulation, especially in areas like DeFi and staking; breakthroughs in decentralized AI technology and the application of AI agents; and the growth of the Solana ecosystem.
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3. This week's large token unlocks
In the next 7 days, there will be significant unlocks (amounting to over $5 million) for SUI, OP, ZETA, KAS, AI, DYDX, ENA, AGI, MAV, GAL, etc. In the next 7 days, linear large unlocks (daily unlock amounts exceeding $1 million) include SOL, WLD, TIA, TAO, AVAX, DOGE, SEI, NEAR, DOT, SUI, FIL, ENS, JTO, MOCA, etc. The total unlocked value exceeds $832 million.
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4. Malaysian regulators require Bybit to close its local operations
Bybit and Ben Zhou have been listed on the SEC's investor warning list since July 2021. The SEC has instructed Bybit: (1) to disable the Bybit website and mobile applications or any other digital application platform in Malaysia within 14 working days starting December 11, 2024; (2) to immediately cease disseminating, publishing, or sending any advertisements to Malaysian investors, whether in social media posts or otherwise; (3) to immediately terminate the Telegram support group provided by Bybit for Malaysians. As the CEO of Bybit, Ben Zhou has also been specifically instructed to ensure compliance with the above directives. So far, Bybit has complied with all directives from the SEC.
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5. a16z Crypto supports lawsuit against the U.S. Treasury's new regulations, claiming they threaten DeFi innovation
a16z Crypto regulatory head Michele Korver tweeted that yesterday the U.S. Treasury released new brokerage reporting rules, posing a direct threat to the vision of DeFi and undermining the future of DeFi innovation in the U.S. a16z Crypto supports the Blockchain Association, DeFi Education Fund, and Texas Blockchain Council in filing a lawsuit, as the IRS and Treasury have overstepped their statutory authority, violating the Administrative Procedure Act (APA) and being unconstitutional. DeFi builders should have confidence that industry lawyers are working hard to protect this technology.
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6. Former German Finance Minister states that the European Central Bank and the German Central Bank should consider including cryptocurrencies like Bitcoin in their reserves
Former German Finance Minister Christian Lindner believes that the European Central Bank (ECB) and the Bundesbank should consider including cryptocurrencies like Bitcoin in their reserves. He pointed out that similar considerations in the U.S. were the basis for making this suggestion. Lindner emphasized that the ECB and Bundesbank have independence in decision-making. However, Germany and Europe should not fall behind again in this area. Therefore, Frankfurt should seriously consider whether it is feasible to include crypto assets in central bank reserves. Lindner noted that this could also help enhance the resilience of reserves, as crypto assets have now become an important part of global wealth growth.
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7. Wu Jiezhuang: Consider trying to include Bitcoin in Hong Kong's foreign exchange fund assets
Hong Kong Legislative Council member and chairman of the Web3 Virtual Asset Development Subcommittee, Wu Jiezhuang, stated in an interview that Hong Kong should leverage the advantages of 'one country, two systems' to take the lead in trying to include Bitcoin in the foreign exchange fund assets, and explore ways to activate Bitcoin held by the country. Bitcoin has the greatest impact on the prices of precious metals with lower practical functionality, including gold and silver. Although Bitcoin also lacks practical functionality, its convenience in storage and transport makes it a better alternative to traditional precious metals, which incur significant storage and logistics costs. Therefore, traditional precious metals may be replaced by Bitcoin, which has lower storage and trading costs. Additionally, Wu Jiezhuang believes that while the government can use Bitcoin as a tool for asset appreciation, substantial holdings are required to see noticeable effects; currently, Bitcoin's value preservation function outweighs its appreciation function.
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8. Wu says this week's macro indicators and analysis: U.S.-China manufacturing PMI
Summary
Last week, the Bank of Japan hinted that interest rate hikes are still possible early next year. This week coincides with the New Year's Eve, with both domestic and international markets closed. Attention can be paid to the U.S.-China December manufacturing PMI and the number of initial jobless claims in the U.S. for the week ending December 28.
Last week's review
Bank of Canada meeting minutes: The decision to lower the policy rate by 50 basis points at the December 11 monetary policy meeting was 'almost difficult to reach.' Some officials only wished to reduce rates by 25 basis points.
The Reserve Bank of Australia released the minutes of its December monetary policy meeting: Strong signals of rate cuts were released, with cuts possibly expected in 2025.
Bank of Japan Governor Ueda Kazuo delivered a speech: reiterated concerns about Trump and 'Shunto' risks, but did not mention the interest rate hike next month.
The Bank of Japan released a summary of the opinions from the December monetary policy meeting: hinted that interest rate hikes are still possible early next year.
The number of initial jobless claims in the U.S. for the week ending December 21 was 219,000, expected 224,000, previous value 220,000.
Key events & indicators this week
December 31
China's December official manufacturing PMI (09:30)
January 2
China's December Caixin manufacturing PMI (09:45)
U.S. initial jobless claims for the week ending December 28 (in thousands) (21:30)
January 3
U.S. December ISM manufacturing PMI (23:00)
