Bitcoin (BTC) enthusiasts have long anticipated the moment when institutional interest in the digital currency would surge, potentially propelling it to new highs. According to BitGo Chief Mike Belshe, that moment is now imminent, and it could boost the demand for the digital asset.

Mike Belshe is Optimist

In a recent interview, Belshe criticized investors who exhibited shaky resolve during recent market corrections. He emphasized the significance of resilience in the face of volatility, stating, “If you can’t handle a 20% dip, you’re definitely unprepared for a 600% upsurge.”

Belshe’s optimism stems from the increasing number of institutions allocating capital towards Bitcoin….

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The landscape of Bitcoin mining is undergoing a profound transformation, driven by the influx of institutional capital and the rise of publicly traded mining companies. As the industry braces for the next bitcoin halving and potential regulatory changes, the dynamics between corporate giants and independent miners are coming into sharp focus.

Next Bitcoin Halving: The Shift in Incentive Structure

Reports from Bitfinex highlight how Wall Street funding has fundamentally altered the incentive structure behind Bitcoin mining. Corporate entities, driven by shareholder returns, operate on a vastly different scale compared to smaller miners. This shift towards profitability over community ideals…

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The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

In Nigeria, home of the largest digital asset economy in Africa, a feud has been developing between the government and Binance—a feud that has culminated with one of the company’s executives escaping house arrest and fleeing the country.

Boasting the sixth-largest population in the entire world, the Federal Republic of Nigeria…

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Hong Kong’s financial landscape is poised for a significant shift as asset manager VSFG, in collaboration with Value Partners, gears up to launch a spot-bitcoin ETF, signaling a growing interest in cryptocurrency investments within the region. Brian Chan of VSFG shared this development with CoinDesk, highlighting a strategic move that follows Bloomberg Intelligence’s forecast of the Securities and Futures Commission (SFC) favoring in-kind creations and redemptions for such ETFs in the upcoming quarter. This initiative comes on the heels of the U.S. green-lighting nearly a dozen spot bitcoin ETF applicants in December 2023, prompting Hong Kong’s SFC to open its doors to similar applications.

The momentum gained further traction with Harvest Global Investments, a leading asset-management firm in China, applying for a spot bitcoin ETF, setting a precedent for other financial institutions. According to reports, around 10 entities are poised to submit their applications, showcasing Hong Kong’s ambition to soften its regulatory stance and cement its position as a global cryptocurrency hub. This move by VSFG and its counterparts marks a pivotal moment in the city’s financial evolution, underscoring a significant shift towards embracing digital currency investments.

CoinDesk

Three companies are joining forces to form a new AI group called ASI, aiming to offer a choice different from Big Tech’s control. They plan to combine their digital currencies—$FET from Fetch.ai, along with those from SingularityNET ($AGIX) and Ocean Protocol ($OCEAN)—into the ASI token. This new token will start at $2.82 each, with a total of about 2.63 billion tokens available.

$1M – $10M MarketCap:

1. Edu3Labs (NFE): 38%
2. Serenity Shield (SERSH): 37%
3. Franklin (FLY): 20%
4. Frogonsol (FROG): 10%
5. ivendPay (IVPAY): 9.1%

$10M – $100M MarketCap:

1. Brickken (BKN): 69%
2. LandX Governance Token (LNDX): 64%
3. SubQuery Network (SQT): 62%
4. Extra Finance (EXTRA): 52%
5. Klima DAO (KLIMA): 50%

$100M – $1B MarketCap:

1. Pocket Network (POKT): 78%
2. Propy (PRO): 45%
3. Moonwell (WELL): 43%
4. Threshold Network (T): 39%
5. Request (REQ): 31%

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) have claimed the top spots in asset accumulation among newly traded ETFs. The iShares Bitcoin Trust stands out with an impressive 243,627 BTC under its belt, valuing at approximately $17.09 billion, which is about 1.16% of the total 21 million Bitcoin that can ever exist. Following closely, the Fidelity Wise Origin Bitcoin Fund holds 139,720 BTC, valued today at nearly $9.81 billion, accounting for 0.665% of the finite Bitcoin supply. This strong performance reflects growing investor confidence and interest in cryptocurrency-based investment products. Despite the volatility often associated with digital assets, both funds have successfully navigated the market dynamics, indicating a bullish stance from institutional investors within the first 50 trading days since their inception.

Bitcoin Treasuries

Tidal Investments and Hashdex Asset Management have launched their spot bitcoin exchange-traded fund (ETF) in the United States, marking a significant shift in the cryptocurrency investment landscape. Renamed from the Hashdex Bitcoin Futures ETF to the Hashdex Bitcoin ETF (DEFI), the fund underwent changes to its structure, now focusing on providing investors with direct exposure to spot bitcoin. Starting March 27, DEFI will track a new benchmark index, dedicating at least 95% of its assets to spot bitcoin purchases. The remaining funds, up to 5%, will be allocated to bitcoin futures contracts traded on the CME and cash or cash equivalents. As of this conversion, DEFI boasts a net asset value of $11.16 million.

Marcelo Sampaio, Hashdex’s co-founder and CEO, expressed enthusiasm about the transition, highlighting its role in advancing their goal to facilitate global access to cryptocurrency innovations. This move by Tidal and Hashdex paves the way for investors seeking direct exposure to bitcoin through a regulated financial product, reflecting growing interest and confidence in cryptocurrency as a viable investment vehicle.

Source

Bitcoin Lightning Network company Neutronpay has secured a $1.5 million bridge funding round led by Axiom Capital, according to a press release sent to Bitcoin Magazine. This investment is to help Neutronpay bring instant and cost-effective payment solutions in Southeast Asia’s digital economy with Bitcoin.

“We are delighted to continue to support Albert and the team as they prove out the utility of Lightning infrastructure in Southeast Asia,” says Allen Farrington on behalf of Axiom. “We expect to see a continued normalization of the superiority of the Lightning Network over legacy fiat banking rails for a range of payment categories and are happy to back Neutronpay as one of the…

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