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According to U.Today, Lionel Laurent, a Bloomberg Opinion columnist, has expressed skepticism about the long-term viability of MicroStrategy's strategy of using debt to acquire Bitcoin. Laurent highlighted that Citron Research's disclosure of a short position in the company previously led to a significant drop in its share price. Despite this, MicroStrategy has recently emerged as one of the top 100 largest public companies in the United States, competing with major corporations like Intel. MicroStrategy's valuation has surged approximately 50 times since it adopted Bitcoin as its treasury reserve asset. The company's approach involves leveraging inexpensive debt to generate funds for further Bitcoin acquisitions. Recently, MicroStrategy completed a $3 billion offering of convertible notes, and its Bitcoin holdings have surpassed the $30 billion mark. However, Laurent warns that this bold strategy carries substantial risks, with a potential Bitcoin price crash being the most apparent threat. Such a downturn could force the company to sell assets and record write-downs. Even if Bitcoin maintains its value, MicroStrategy might still face challenges due to its significant premium relative to its net asset value (NAV). Michael Saylor, the company's CEO, is known for his resilience in the face of financial setbacks, having previously lost $6 billion in a single day in 2000. Despite the growing skepticism, Saylor remains undeterred. He acknowledged the existential risk of Bitcoin experiencing an extinction-level event and losing all its value overnight. However, he emphasized that MicroStrategy's investors are aware of and have accepted this risk.

According to Cointelegraph, the purchase of two Papa John's pizzas by programmer Laszlo Hanyecz in 2010 for 10,000 Bitcoin (BTC) has become a legendary event in the cryptocurrency world. At today's market prices, those pizzas would be worth over $978 million. This transaction is widely recognized as the first commercial use of Bitcoin. In a 2019 interview with CBS' 60 Minutes, Hanyecz shared his experience of the transaction. He posted an offer on a forum, proposing to exchange 10,000 Bitcoin for pizza. Someone accepted the offer, and after Hanyecz transferred the Bitcoin, the pizzas were delivered to his door. This transaction has since become a meme within the crypto community, as Bitcoin's value has surged dramatically over the years. The event, celebrated annually as 'Pizza Day' on May 22, marks a significant moment in Bitcoin's history. On May 22, 2016, the 10,000 BTC used for the pizzas, initially worth $41 in 2010, had appreciated to approximately $4.4 million. By Pizza Day 2018, the value had increased to around $41 million, reflecting a tenfold rise since 2016. In 2020, Bitcoin's price reached new peaks, and the 10,000 BTC represented an opportunity cost exceeding $80 million. By Pizza Day 2022, this opportunity cost had grown to over $300 million. However, the bear market of 2023 marked a reversal in this trend, with the value of the 10,000 BTC dropping to approximately $268 million. Despite this downturn, industry experts and analysts are optimistic about Bitcoin's future. They are projecting a price target of $180,000 per Bitcoin by 2025, which could elevate the opportunity cost of the 10,000 BTC to nearly $2 billion by Pizza Day 2025.

On Nov 23, 2024, 16:18 PM(UTC). According to Binance Market Data, Bitcoin has dropped below 98,000 USDT and is now trading at 97,951.078125 USDT, with a narrowed 0.45% decrease in 24 hours.

According to Finbold, Robert Kiyosaki, the investor and author of the renowned personal finance book 'Rich Dad Poor Dad,' has criticized an unnamed gold advocate for disparaging MicroStrategy's Bitcoin investment strategy. Kiyosaki referred to the critic as 'Mr. Big Mouth No Balls,' accusing him of hypocrisy for attacking Michael Saylor, the executive chairman of MicroStrategy, over the company's Bitcoin purchases while seemingly wishing the company had invested in gold instead. In a post on X dated November 23, Kiyosaki defended Saylor's decision to leverage the company's treasury to invest billions in Bitcoin, describing him as a 'genius.' Kiyosaki believes this approach has generated wealth for Saylor, his company, and its investors. Kiyosaki, who has long advocated for gold and silver, emphasized Bitcoin as a crucial hedge against what he describes as 'fake dollars' printed by the Federal Reserve. He stated, 'I still invest in gold and silver because the real problem is our fake dollars, printed by a corrupt Central Bank...known as "The Fed" and a Treasury Department filled with bureaucrats.' Despite his criticism, Kiyosaki dismissed the debate between Bitcoin and gold, considering both asset classes as equal in their ability to protect wealth. Although Kiyosaki did not name the individual in question, it is noteworthy that economist and gold advocate Peter Schiff has been critical of Saylor's Bitcoin strategy. Schiff argues that Saylor is gambling with investors' money by investing in Bitcoin and has warned that MicroStrategy may be forced to sell its Bitcoin holdings in the event of a recession. With Bitcoin's recent movement towards the $100,000 mark, Schiff criticized MicroStrategy in a post on X on November 22 for issuing $3 billion in convertible debt to buy more Bitcoin, labeling the strategy a 'Ponzi scheme.' He argued that MicroStrategy's reliance on selling shares and taking on debt to fund its Bitcoin purchases is unsustainable. According to Schiff, if MicroStrategy cannot sell more shares, it will be forced to sell its Bitcoin, potentially crashing the market. Despite these concerns, MicroStrategy has been one of the best-performing stocks this year, outperforming many companies and aligning with the upward trend in Bitcoin's price. There are calls for other S&P 500 companies to replicate MicroStrategy's Bitcoin plan. Some analysts argue that MicroStrategy's use of leverage to generate compounding yield on its Bitcoin holdings through repeated access to U.S. capital markets sets its stock apart from alternative Bitcoin exposure methods like spot Bitcoin ETFs. Meanwhile, MicroStrategy continues to witness increased capital inflow from major institutional firms, with notable names like Vanguard Group and Capital International Investors acquiring significant shares. As of the latest trading, MicroStrategy's stock was valued at $421.88, reflecting a gain of over 6% in 24 hours and a 515% increase in 2024. While Kiyosaki defends Saylor's Bitcoin strategy, investors are advised to remain cautious of the underlying concerns, as MicroStrategy's plan is still considered to be in its early stages despite the significant returns.

According to PANews, Bitwise CEO Hunter Horsley recently expressed on the X platform that 2024 is poised to be a significant year for the securitization of Bitcoin. He highlighted the emergence of various financial instruments related to Bitcoin, including ETFs, options, stocks, convertible notes, and now credit. Horsley emphasized that this marks just the beginning of Bitcoin's journey in the financial markets. Horsley's comments reflect a growing trend in the financial industry towards the integration of Bitcoin into traditional financial products. The development of these instruments is seen as a step towards broader acceptance and utilization of Bitcoin in mainstream finance. As the landscape evolves, market participants are closely watching how these products will impact Bitcoin's role in the global financial system. The introduction of Bitcoin-related financial products is expected to attract a wider range of investors, providing them with more options to engage with the cryptocurrency market. This trend is anticipated to continue as regulatory frameworks evolve and more financial institutions explore opportunities in the digital asset space. The year 2024 could be pivotal in shaping the future of Bitcoin as a securitized asset.

Cboe Global Markets has announced plans to introduce cash-settled Bitcoin options on December 2, 2024. These options will be based on the Cboe Bitcoin U.S. ETF Index, which tracks the performance of U.S.-listed spot Bitcoin exchange-traded funds (ETFs).The new offerings will include standard-sized contracts and smaller options representing one-tenth of the main contracts' value. Both will feature European-style exercises, allowing execution only on the expiration date. Rob Hocking, Cboe's Global Head of Product Innovation, stated, "Our new suite of options on the Cboe Bitcoin U.S. ETF Index offers a timely and compelling solution for traders to efficiently gain exposure to spot Bitcoin."This development follows the recent approval of options trading for several spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC), reflecting the growing integration of cryptocurrency products into traditional financial markets, according to Marketwatch.

The total assets under management (AUM) for digital asset exchange-traded products (ETPs) surpassed $150 billion for the first time, driven by Bitcoin's continued rally. James Butterfill, Head of Research at CoinShares, highlighted this development on the X platform, marking a significant moment for the cryptocurrency sector.The surge in AUM reflects increasing confidence in digital assets, with Bitcoin at the forefront of this growth. Recent regulatory clarity, combined with the launch of spot Bitcoin ETFs, has bolstered market sentiment, attracting institutional and retail investors alike. 

Bitcoin’s (BTC) price has printed its biggest monthly candle ever, climbing over 40.8% in November and surpassing the $99,000 mark. This new milestone comes just over two weeks after Donald Trump’s election victory on Nov. 5, which spurred investor appetite for risk-on assets like Bitcoin (BTC).Stablecoin Inflows Signal Market OptimismOn Nov. 22, stablecoin flows to crypto exchanges hit a record monthly high of over $9.7 billion, reflecting strong liquidity and bullish sentiment. The Crypto Fear & Greed Index also climbed to 88 ("extreme greed"), up from 85 last week, signaling growing optimism for a potential breach of $100,000.Historical Trends Support Further UpsideNovember has historically been Bitcoin’s (BTC) most bullish month, with average returns of 46%, according to CoinGlass. With eight days remaining, analysts predict Bitcoin (BTC) could set new records before the month ends.However, some caution remains. The last time the Fear & Greed Index hit 80+ in April, Bitcoin experienced an 18% correction within three weeks.Bitcoin at $100K: A Hedge Against InflationMarket analysts, including Marcin Kazmierczak, COO of RedStone, highlight Bitcoin’s potential as a hedge against inflation:“Bitcoin's 0% inflation rate and limited supply make it a strong wealth generator, particularly when compared to gold’s centuries-long history as a store of value.”Despite optimism, some experts, including Crypto.com CEO Kris Marszalek, warn that leverage in the crypto market may delay Bitcoin’s climb past the $100,000 milestone.Market Update: Bitcoin currently trades at $98,567, just 1.5% away from crossing into six figures, according to Bitstamp data.Read More: Bitcoin News Today: BTC Surges to Record Monthly Gains, Trump’s Crypto Ambitions Spark OptimismVan Eck Reaffirms $180K Bitcoin Price Target Amid Bull Market MomentumPotential SEC Chair Mark Uyeda Signals Pro-Crypto Approach After Gensler's Resignation

Bitcoin’s (BTC) price soared over 40.8% in November, breaking records for its largest monthly gain, with prices peaking at $99,000. The rally comes amid increasing investor appetite following Donald Trump’s victory in the U.S. presidential election on Nov. 5. Analysts expect the top cryptocurrency to breach the $100,000 milestone soon, supported by rising institutional interest and regulatory clarity.Trump Media Files for Crypto Trading and Wallet ServicesTrump Media has hinted at entering the crypto market with a trademark filing for “TruthFi,” which covers digital wallet services, payment processing for crypto and fiat, and trading in digital assets. The filing also mentions financial research and custody services. The move aligns with President-elect Trump’s vision to make the U.S. a “crypto capital.”CFTC Pushes for Clearer U.S. Crypto PoliciesAt the North American Blockchain Summit, CFTC Commissioner Summer Mersinger advocated for notice-and-comment regulation for crypto, moving away from the current enforcement-driven approach. Mersinger criticized litigation strategies that force regulatory classifications through court rulings, emphasizing the need for clear, standardized policies.UK Promises Comprehensive Crypto Regulation by 2025The UK Treasury announced plans to deliver a complete crypto regulatory framework by early 2025, covering stablecoins, staking services, and cryptocurrencies. This follows a leadership change in the UK government earlier this year. Economic Secretary Tulip Siddiq emphasized a unified approach for simplicity and efficiency.AI and Big Data Tokens See 131% Surge Amid Bitcoin RallyThe market capitalization of AI and big data tokens rose 131.4% since June, reaching $42.1 billion on Nov. 19. Leading the surge are tokens like NEAR, ICP, and RENDER, boosted by Bitcoin’s (BTC) bull run and positive investor sentiment.DeFi Market OverviewThe DeFi sector saw significant gains this week, with Mantra (OM) and Stellar (XLM) among the top performers, surging over 122% and 114%, respectively. The total value locked (TVL) in DeFi projects also saw a notable increase, reflecting renewed confidence in the sector.Market Sentiment: OptimisticBitcoin’s historic gains and Trump Media’s crypto plans are fueling bullish sentiment, positioning the crypto industry for broader institutional adoption and global policy advancements.

Global investment manager Van Eck has reiterated its Bitcoin (BTC) price target of $180,000 for the ongoing bull cycle. According to a Nov. 21 report by Van Eck digital asset analysts Nathan Frankovitz and Matthew Sigel, Bitcoin’s next growth phase has "just begun," supported by improving U.S. regulations and heightened institutional involvement.The bullish prediction aligns with Bitcoin’s  (BTC) recent performance, as the cryptocurrency reached a 24-hour high of $99,800 and trades at $98,500 at publication, just shy of the $100,000 milestone.Bullish CatalystsVan Eck attributes Bitcoin’s  (BTC) current rally partly to U.S. President-elect Donald Trump’s crypto-friendly policies, which have fueled market optimism. The analysts foresee sustained demand pushing  BTC to $180,000 within 18 months as institutional interest intensifies.Market Sentiment and Overheating ConcernsWhile short-term momentum remains strong, with perpetual futures funding rates surpassing 10%, Van Eck cautions that elevated rates could signal market "overheating." Historically, such levels have correlated with strong 30- to 90-day returns but diminishing performance over 180-day and multi-year horizons.“On days when funding rates exceed 10%, purchases tend to underperform after six months, with more pronounced declines over one- and two-year periods,” the analysts noted.OutlookWith several analysts predicting Bitcoin  (BTC) could exceed $100,000 within days, Van Eck’s target reinforces confidence in Bitcoin’s longer-term trajectory, even as short-term caution persists. As the bull market unfolds, market participants will monitor funding rates and regulatory developments for further insights, according to Cointelegraph report.Current Bitcoin Price: $98,500Key Resistance Level: $100,000

According to BlockBeats, recent data from TradingView indicates that Bitcoin's market dominance, represented as BTC.D, experienced a decline over the past three days. On November 21, Bitcoin's market share reached a high of 61.79%. However, it has since decreased, currently standing at 59.6%. This shift in Bitcoin's market dominance reflects changes in the cryptocurrency market dynamics. The initial peak suggests a period where Bitcoin was gaining a larger share of the overall market, possibly due to increased investor interest or market movements favoring Bitcoin over other cryptocurrencies. The subsequent decline indicates a shift, where other cryptocurrencies may be gaining traction or Bitcoin's growth is stabilizing. Market dominance is a key metric for understanding Bitcoin's position relative to other digital assets. A higher dominance percentage typically suggests Bitcoin is outperforming other cryptocurrencies, while a decrease can indicate a diversification of investments into alternative digital currencies. This trend is crucial for investors and analysts monitoring the cryptocurrency market's health and potential shifts in investment strategies.

According to U.Today, Bitcoin exchange-traded funds (ETFs) are on the verge of surpassing Satoshi Nakamoto as the largest holders of Bitcoin by market capitalization. Data from ETF analyst Eric Balchunas indicates that these financial products are 97% of the way to reaching this significant milestone. Despite this, some experts argue that the estimated 1.1 million Bitcoins attributed to Satoshi may be overstated. Bitcoin ETFs are also nearing a similar milestone in comparison to gold ETFs, with holdings at 97% of the latter's total. Balchunas has previously suggested that Bitcoin ETFs could potentially triple the holdings of gold ETFs, citing the appeal of Bitcoin's higher volatility as a factor. Galaxy Digital CEO Mike Novogratz has echoed this sentiment, stating that Bitcoin is more attractive to younger investors than gold and predicting that Bitcoin could surpass gold's market cap within the next decade. Bitcoin ETFs continue to be a significant bullish factor for the cryptocurrency. Data from crypto analytics platform SoSoValue shows that Bitcoin ETFs attracted $795 million in new inflows on Wednesday, with Bitcoin's IBIT accounting for over $626 million of that amount. Additionally, spot Bitcoin ETFs have now exceeded $100 billion in net assets, marking a notable achievement for these relatively new financial instruments. CoinGecko data also reveals that Bitcoin's price reached a new record high, surpassing the $98,000 mark earlier today.

According to Cointelegraph, state pension plans in the United States are increasingly allocating assets to cryptocurrencies, unlike private pension plans that face stricter regulations under the Employee Retirement Income Security Act of 1974 (ERISA). Attorney Allie Itami from Lathrop GPM highlighted that the Employee Benefits Security Administration (EBSA), responsible for enforcing ERISA, has expressed skepticism about private pension plans investing in digital assets due to their volatile nature. This caution stems from a 2022 compliance guidance issued by the EBSA, which has deterred ERISA-covered pension plans from incorporating cryptocurrencies into their portfolios.The stringent enforcement of ERISA regulations and the associated fiduciary liability have limited the involvement of private pension managers in the crypto market. Consequently, state pension plans are expected to continue dominating capital inflows into cryptocurrencies from retirement investment accounts unless there is a change in the guidance. Several state and municipal pension funds have already ventured into the crypto space. For instance, the State of Wisconsin’s Investment Board (SWIB) announced a $164 million investment in Bitcoin ETFs in May. Similarly, Michigan disclosed a $6.6 million investment in Bitcoin ETFs in July and expanded its digital asset exposure in November 2024 by acquiring shares in the Grayscale Ethereum Trust and the Grayscale Ethereum Mini Trust.Florida's chief financial officer, Jimmy Patronis, is advocating for the inclusion of Bitcoin in the state's pension programs. He described Bitcoin as "digital gold" and urged state pension funds to consider exposure to it. Patronis emphasized Bitcoin's potential as a hedge against inflation and a safeguard against central bank digital currencies during an appearance on CNBC, asserting that "Crypto is not going anywhere." This growing interest from state pension funds underscores a significant shift in the investment landscape, as they seek to capitalize on the potential benefits of digital assets.

On Nov 22, 2024, 17:10 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 99,000 USDT benchmark and is now trading at 99,096 USDT, with a narrowed 1.84% increase in 24 hours.

According to Odaily, recent data disclosed by Arkham on the X platform reveals that the German government previously held 49,858 bitcoins, which are currently valued at $4.92 billion. In July of this year, the government sold its bitcoin holdings, generating $2.89 billion at an average price of $57,900 per bitcoin. This sale resulted in a missed opportunity for an additional $2.03 billion in potential profits. The decision to sell the bitcoins at that time has sparked discussions regarding the timing and strategy behind the sale. The significant difference between the sale proceeds and the current valuation highlights the volatility and unpredictability of the cryptocurrency market. The German government's move reflects a cautious approach, prioritizing immediate financial gains over potential future profits. This development underscores the challenges faced by governments and institutions in managing cryptocurrency assets. As the market continues to evolve, the decision-making processes surrounding the acquisition and liquidation of digital currencies remain complex and fraught with risk. The German government's experience serves as a case study for other entities considering similar actions in the volatile world of cryptocurrencies.

According to BlockBeats, the Chicago Board Options Exchange (CBOE) is set to introduce its first cash-settled options product linked to spot Bitcoin. This new financial instrument is scheduled to be available on December 2, a Monday, marking a significant development in the cryptocurrency derivatives market. The introduction of cash-settled Bitcoin options by CBOE represents a notable step in the evolution of cryptocurrency trading. These options will allow investors to speculate on the price movements of Bitcoin without the need to hold the actual cryptocurrency. This product is expected to attract a wide range of investors, including those who are interested in Bitcoin but are hesitant to engage in direct cryptocurrency transactions due to concerns about security and regulatory issues. CBOE's move to offer Bitcoin options comes amid growing interest in cryptocurrency derivatives, which have become increasingly popular among institutional investors seeking exposure to digital assets. The cash-settled nature of these options means that settlements will be made in cash rather than Bitcoin, providing a layer of convenience and reducing the complexities associated with handling the digital currency itself. This launch is anticipated to enhance the liquidity and accessibility of Bitcoin-related financial products, potentially leading to increased participation from both retail and institutional investors. As the cryptocurrency market continues to mature, the introduction of such products by established financial institutions like CBOE underscores the growing acceptance and integration of digital assets into traditional financial markets.

According to Odaily, Michael Saylor recently shared insights on the X platform about MicroStrategy's financial operations centered around Bitcoin. The company utilizes an Automated Market Maker (ATM) product to manage volatility. This approach involves separating Bitcoin's risk, volatility, and performance from fixed-income securities. The resulting performance is then transferred to MSTR stockholders, allowing them to benefit from Bitcoin's market dynamics. MicroStrategy's strategy reflects a broader trend of integrating cryptocurrency into traditional financial frameworks. By leveraging Bitcoin's unique characteristics, the company aims to optimize its financial operations and provide value to its shareholders. This method highlights the evolving landscape of financial management, where digital assets play an increasingly significant role. Saylor's comments underscore the importance of innovative financial strategies in navigating the complexities of modern markets.

On Nov 22, 2024, 13:25 PM(UTC). According to Binance Market Data, Bitcoin has dropped below 98,000 USDT and is now trading at 97,930.007813 USDT, with a narrowed narrowed 0.72% increase in 24 hours.

According to Odaily, Calamos Investments has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a Bitcoin 'structured-protection' ETF. This proposed exchange-traded fund aims to leverage the options market to hedge against up to 100% of Bitcoin's downside risk, offering investors a way to mitigate the impact of high volatility in Bitcoin investments. Calamos Investments, which currently manages assets worth $40 billion, is looking to provide a structured investment opportunity that could appeal to those wary of Bitcoin's notorious price swings. The structured-protection ETF is designed to offer a safety net for investors by using options strategies to protect against potential losses, thereby making Bitcoin investments more accessible to a broader audience. Earlier this year, in May, Calamos also submitted an application for a Bitcoin 'Buffer' ETF. This initiative reflects the company's ongoing efforts to expand its offerings in the cryptocurrency space, providing innovative solutions to address the challenges associated with digital asset investments. The Buffer ETF aims to offer a different level of protection, focusing on cushioning investors from moderate market downturns while still allowing for potential gains. The move by Calamos to introduce these ETFs underscores the growing interest and demand for structured financial products in the cryptocurrency market. As digital assets continue to gain traction among institutional and retail investors, the need for diversified investment strategies that can manage risk effectively becomes increasingly important. Calamos' approach highlights the potential for traditional financial instruments to adapt and evolve in response to the unique characteristics of the cryptocurrency landscape.