The quest for a Bitcoin exchange-traded fund (ETF) has been a protracted journey, marked by highs and lows. 

In fact, those excited that a Bitcoin spot ETF approval could take place as soon as January may be shocked to know the initial attempt at a Bitcoin ETF dates back to July 2013 .

That’s when investors Cameron and Tyler Winklevoss, then best known for their controversial role in creating Facebook, first proposed the Winklevoss Bitcoin Trust, an exchange-traded vehicle that would open up Bitcoin to institutional investors. 

However, despite their forward-thinking proposal, the SEC officially rejected the proposal in March 2017, citing concerns about market surveillance and regulation….

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MicroStrategy, a leading business intelligence and software company, has continued its steadfast commitment to Bitcoin by purchasing an additional 14,620 BTC at a total cost of $615.7 million, Founder & Chairman Michael Saylor announced today. The purchase came as Bitcoin’s price has been experiencing upward momentum, reaching highs of over $42,000.

The company initially entered the Bitcoin market in August 2020, making a significant initial investment of $250 million into BTC. Since then, they have consistently added to their Bitcoin holdings, creating a treasury reserve strategy that has garnered over 189,150 bitcoin worth more than $8.11 billion at the time of writing.

“On December…

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MicroStrategy has executed a noteworthy acquisition, further substantiating its commitment to the Bitcoin market. The company recently procured an additional 14,620 BTC at an approximate cost of $615.7 million, at an average purchase price of $42,110 per Bitcoin. As of December 26, 2023, MicroStrategy’s cryptocurrency holdings have reached a substantial 189,150 BTC, amassed at an aggregate expenditure of roughly $5.9 billion, with an average acquisition cost of $31,168 per Bitcoin. This substantial investment not only solidifies MicroStrategy’s status as a prominent corporate custodian of Bitcoin but also underscores its enduring faith in the Bitcoin’s long-term potential.

Official Announcement Link

Creditors of the now-defunct digital asset trading platform Mt. Gox are finally witnessing the initiation of the compensation process for their long-blocked Bitcoin deposits after enduring a decade of uncertainty and numerous delays.

As the trustee overseeing the estate has begun the process, Mt Gox payouts have officially started, with creditors reporting their accounts being credited with Japanese yen through PayPal.

Creditors Shed Light on Repayments

Several posts and comments on Reddit have shed light on the initial stages of the repayment process. Creditors who opted for PayPal as their preferred payment method are now seeing their Bitcoin (BTC) and Bitcoin Cash (BCH)…

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Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

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BitcoinNews.com is not investment advice.

Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

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Renowned US investor and CEO of ARK Invest, Cathie Wood, is optimistic about the imminent approval of a spot Bitcoin ETF in the United States. Wood revealed that the SEC has been engaging in detailed discussions with ETF applicants, demonstrating a positive approach. She emphasized the importance of eliminating uncertainties for the SEC and anticipates the ETF’s approval in January 2024. This eagerly awaited approval will open doors for institutional investors to enter the cryptocurrency market, although it won’t happen before the end of 2024 due to ongoing deliberations.

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