Follow Nikolaus On X Here
At the tail end of yesterday, MacroScope, a financial analyst focusing on Bitcoin, revealed a new SEC filing stating that Microsoft is voting this December on whether it should invest in bitcoin.
At first I thought there is no way this happens right now, and figured it will just be a short lived hype, especially after noticing a detail in the filing stating that Microsoft’s board recommends its shareholders to vote AGAINST the…
Read more on BitcoinMagazine
Today, the city of Lugano in Switzerland unveiled an incredible statue honouring Satoshi Nakamoto, Bitcoin’s anonymous founder. I found this tribute incredibly inspiring and beautiful.
The statue was revealed at Lugano’s Plan B conference, turning heads with its clever invisible design. Viewed head-on, it disappears entirely – representing Satoshi’s own anonymity. This is an artistic masterpiece perfectly encapsulating his mystery.
Of course, some bitcoiners…
Read more on BitcoinMagazine
On October 25, 2024, the daily net flow of Bitcoin ETFs in the U.S. highlighted significant transactions with most funds showing positive movements. BlackRock’s Bitcoin ETF (Ticker: IBIT) led with a substantial increase, adding 2,435 BTC to its holdings, marking a significant uptick in investor interest.
Bitwise (Ticker: BITB) and Invesco Galaxy’s Bitcoin ETF (Ticker: BTCO) also saw positive inflows, gaining 435 BTC and 344 BTC, respectively. Grayscale’s BTC ETF (Ticker: BTC) added 71 BTC, reflecting a steady interest despite broader market fluctuations.
Conversely, some funds experienced minor outflows; VanEck’s Bitcoin ETF (Ticker: HODL) saw a decrease of 85 BTC, and ARK’s Bitcoin ETF (Ticker: ARKB) had a modest outflow of 5 BTC. Grayscale’s GBTC fund had a negligible outflow of 9 BTC.
Overall, the total holdings of all ETFs listed reached 967,330 BTC, with a net inflow of 3,186 BTC for the day, valued at approximately $210.7 million. This activity underscores a day of robust trading and investor engagement in the U.S. Bitcoin ETF market, with significant capital injections leading to a substantial increase in total market value.
Disclaimer: Market capitalizations and data 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.
Join CryptoCrunchApp on Telegram Channels – Click to Join
Retail investors are showing unprecedented enthusiasm for spot Bitcoin ETFs, comprising nearly 80% of the total assets under management as revealed in a recent Binance study dated October 25. This strong demand highlights a shift towards cryptocurrency as a favored investment among non-institutional players, with significant activity recorded until October 10.
Despite this trend, traditional financial giants remain cautious. Vanguard, for example, remains steadfast in its decision against launching crypto ETFs, with its CEO Salim Ramji affirming on August 14 that they will continue to avoid the crypto sector. This resistance underscores a broader hesitancy among traditional finance institutions to fully embrace digital currencies.
However, Bitcoin ETFs have not lost their allure, seeing massive inflows totaling $2.88 billion from October 11 to 23, as per Farside data. This only saw a minor dip with a 2.7% outflow on October 22. This robust influx points to a growing confidence in Bitcoin among retail investors, potentially setting the stage for broader acceptance in the financial landscape.
At Lightspark Sync, Lightspark’s first partner summit on Thursday, the company announced new products and features that will allow users to make global payments with both bitcoin and fiat.
The company announced that it has launched an alpha version of Spark, a Bitcoin Layer 2 that’s interoperable with Lightning and that makes it cheaper to onboard users to a non-custodial Bitcoin layer.
The company also announced new capabilities for UMA, the company’s open-source and regulatory compliant payment solution that makes sending money as simple as sending an email.
With UMA Extend, the Lightning Network can serve as a bridge between traditional banks globally, while with UMA Auth and UMA…
Read more on BitcoinMagazine
Bitcoin’s price cycles have long been a source of intrigue for investors and analysts alike. We can gain insights into potential price movements by comparing current trends to previous cycles, especially with Bitcoin seemingly coming to an end of its consolidation period, many wonder if the next leg up is around the corner.
Comparing Bitcoin Cycles
To begin, it’s crucial to look at how Bitcoin has performed since hitting its recent cycle low. As we examine the data, a clear picture begins to form: Bitcoin’s current price action (black line) is showing patterns similar to previous bull cycles. Although it has been a choppy consolidation period, where the price has been relatively…
Read more on BitcoinMagazine
This is a segment from the Empire newsletter. To read full editions, subscribe.
If you think the Ethereum L2 space is overcrowded, perhaps you’re not thinking big enough.
Granted, there are now more than 100 different satellite blockchains orbiting Ethereum mainnet, per L2Beat.
Kraken is preparing to launch one more, Ink, which it aims to deploy on Optimism’s Superchain. It will be the Superchain’s 24th fully participating network.
L2s generally process transactions offchain — where it’s much cheaper — and periodically transmute them to Ethereum for proper settlement.
The low fees and speed free developers to build apps that are otherwise too unwieldy…
Read more on Blockworks
Tokyo’s investment firm Metaplanet has delivered a remarkable 116% yield on its Bitcoin investments this October, outperforming the previous quarter’s 41.7% yield significantly. The firm attributes this surge to its aggressive Bitcoin acquisition strategy, having added over 450 BTC to its portfolio this month, pushing its total to 855.5 BTC worth approximately $56.1 million.
Metaplanet has adopted the “BTC Yield” as a new key performance indicator (KPI), following in the footsteps of MicroStrategy, the top corporate Bitcoin holder. This innovative metric, which relates Bitcoin holdings to the number of fully diluted shares, aims to provide transparent and periodic insights into the firm’s financial maneuvers and asset management.
CEO Simon Gerovich emphasizes the KPI’s role in enhancing shareholder value through strategic Bitcoin acquisitions. Despite some inherent limitations, such as excluding debt considerations, the new reporting model promises to offer a clearer picture of how Bitcoin investments contribute to boosting shareholder returns. Metaplanet plans to continue these updates regularly, aligning with industry pioneers to refine their investment approach.