💼 MicroStrategy, led by Michael Saylor, added 📈 51,780 BTC for 💰 $4.6B at an average of $88,627/BTC. Their total holdings now stand at 🏦 331,200 BTC, bought at an average of $49,874/BTC. 📊 Following the news, MicroStrategy stock jumped 🚀 10%, and the crypto market saw gains, with BTC ⬆️ 3% and ETH ⬆️ 3.5%. #DeSciRising $BTC
The debate over a U.S. strategic bitcoin reserve sparks disagreement:
💼 Proponents: Say the President can act without Congress, similar to the Strategic Petroleum Reserve, to protect national interests. ⚖️ Opponents: Argue Congress must approve, as it involves funding and legitimacy. 💡 Key issue: Balancing legal and political factors while integrating crypto into national strategy.
📈 JPMorgan's Bitcoin Retail Sentiment Score has hit a record high, signaling a massive surge in retail investor interest in Bitcoin. 💰
💡 Meanwhile, MicroStrategy's (MSTR) call skew has soared, showing a strong preference for call options as investors bet on the stock's potential gains. 🚀
🔥 These trends reflect growing optimism among retail investors for Bitcoin and related equities. 🌟#BinancePoolFractalBitcoin $BTC $ETH
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🦭Bitcoin reached $93k! I hope you all took some profits. Don’t let greed hold you back; it’s important to secure gains. At the very least, consider selling 30% of your holdings. When it hits $93k again, you can re-enter your position. For now, focus on locking in those profit.#USInflationAboveTarget $BTC $ETH
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🚀 Bitcoin is on the rise! 📈 Major institutional investments, futures activity, and a favorable political climate are fueling the rally. Combine that with supply constraints and high stablecoin liquidity, and we’re seeing strong momentum for $BTC ! #Bitcoin #CryptoRally #DollarIndexHighestSinceJuly #BTCBreaks88k $BTC $ETH
Cryptocurrency Industry Invests $119 Million in 2024 U.S. Elections The cryptocurrency sector has significantly increased its political spending in the 2024 U.S. elections, contributing a record $119 million—nearly half of all corporate political donations this cycle. This surge aims to influence policy and elect pro-crypto politicians, advocating for regulation by the more lenient Commodity Futures Trading Commission (CFTC) over the stringent Securities and Exchange Commission (SEC). The industry's political spending has been funneled through the super PAC Fairshake, which supports both Republicans and Democrats based on their crypto stance. Notable contributors include Coinbase and Ripple, both embroiled in SEC lawsuits. Crypto proponents argue that regulatory clarity is essential for the industry's stability and growth. This aggressive political involvement underscores crypto's deep-seated desire to be recognized and respected within the financial system, despite public skepticism and past scandals. VOX Sources
Tether Enters Oil Market with $45 Million Trade Tether, the issuer of the world's largest stablecoin, has expanded into the oil sector by funding a $45 million crude oil trade. This move marks Tether's first venture into commodity-backed transactions, aiming to diversify its holdings and demonstrate the utility of stablecoins in traditional markets. The transaction underscores the growing intersection between digital assets and conventional industries. THE BLOCK Sources
Ethereum Foundation Discloses $970 Million Treasury in 2024 Report The Ethereum Foundation has released its 2024 financial report, revealing a treasury of $970 million. This substantial reserve underscores the foundation's robust financial health and its capacity to support ongoing development and innovation within the Ethereum ecosystem. The report also highlights significant progress in scaling solutions and decentralized applications, reflecting Ethereum's continued growth and influence in the blockchain industry. THE BLOCK Sources
1. Chinese National Sentenced to Life for Selling State Secrets for Cryptocurrency A Chinese individual has been sentenced to life imprisonment for selling state secrets in exchange for cryptocurrency. The case highlights the increasing use of digital currencies in illicit activities and the stringent measures governments are implementing to combat such offenses. CRYPTONEWS 2. Tether Completes First USDT-Based Crude Oil Transaction in Middle East Tether has successfully completed its inaugural crude oil transaction using USDT in the Middle East. This milestone demonstrates the growing adoption of stablecoins in traditional commodity markets, showcasing their potential to streamline and enhance the efficiency of global trade operations. CRYPTONEWS Sources