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Michael Saylor, founder of MicroStrategy and notable Bitcoin proponent, has reaffirmed his support for crypto self-custody, emphasizing the right to choose how to store digital assets. This comes after his earlier comments endorsing regulated custody options like BlackRock and Fidelity drew sharp criticism from the crypto community. Saylor clarified on X, stating, “I support self-custody for those willing and able, the right to self-custody for all, and freedom to choose the form of custody and custodian for individuals and institutions globally.”
The crypto community reacted strongly, with Ethereum co-creator Vitalik Buterin and other prominent figures denouncing Saylor’s initial support for regulation-heavy solutions. Buterin labeled the approach as potentially harmful to the essence of cryptocurrency, which thrives on decentralization and minimal regulatory interference. This sentiment was echoed by Casa co-founder Jameson Lopp, who highlighted the importance of self-custody in maintaining network security and fostering innovation.
Saylor’s recent statements seek to bridge his views with those advocating for minimal regulatory influence, arguing that Bitcoin can benefit from diverse investment strategies, including those involving traditional financial entities. As the debate continues, the adoption of crypto products like spot Bitcoin ETFs is gaining momentum, signaling a growing integration of cryptocurrencies within conventional investment frameworks.
Over seven months later, Nigeria has finally dropped the charges against Binance executive Tigran Gambaryan, according to multiple media reports.
The Nigerian government charged Gambaryan alongside his employer with money laundering violations, though the case was primarily focused on Binance. The crypto exchange previously denied the charges.
Just a few months before, the government also dropped tax evasion charges it had also filed against both Gambaryan and Binance.
Read more: Binance’s woes in Nigeria continue to mount
The same day that the government dropped the charges against Gambaryan, the US announced a “bilateral liaison” with Nigeria focused on crypto and illicit…
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Plenty of people feel strongly about the tokenization/RWA space that appears poised to one day transform financial services — even if that change takes years to play out.
A bunch of those takes were expressed during day one of the RWA Summit in Brooklyn on Tuesday, as the promises and projections for the segment were both touted and questioned.
RWA, if you forgot, is short for real-world assets. In this context, it refers to the efforts to bring tokenized versions of such assets — from bonds to real estate — onto blockchains.
We have seen some big projections, with Standard Chartered, for…
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The daily net flow of Bitcoin ETFs in the U.S. as of October 23, 2024, highlighted mixed results across various funds. BlackRock’s Bitcoin ETF (Ticker: IBIT) saw the most significant gain, adding 637 BTC to its holdings. Fidelity’s Bitcoin ETF (Ticker: FBTC) also reported a healthy increase, gaining 131 BTC. Invesco Galaxy’s BTC ETF (Ticker: BTCO) added 172 BTC, contributing positively to the day’s total.
Conversely, ARK’s Bitcoin ETF (Ticker: ARKB) experienced a substantial outflow, losing 1,997 BTC. VanEck (Ticker: HODL) also faced a decline, with a reduction of 113 BTC. Additionally, Grayscale’s Bitcoin ETF (Ticker: GBTC) recorded a decrease of 80 BTC.
Despite some individual losses, the day ended with a total Bitcoin holding of 961,314 BTC across all ETFs. However, the net change for the day was a decrease of 1,250 BTC, valued at approximately $82.2 million. This overall outflow suggests cautious or adjusting movements by investors in the face of shifting market dynamics.
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.
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Bernstein research analysts have described their $200,000 Bitcoin price prediction for the end of 2025 as “conservative.” They emphasize the cryptocurrency’s appeal as a ‘store of value’ amidst escalating U.S. debt, which now surpasses $35 trillion. The firm’s latest report, the “Bitcoin Blackbook,” is aimed at making Bitcoin more accessible to institutional investors, likening its potential to that of gold but with greater upside.
On the investment front, Bernstein suggests alternatives for those hesitant to invest directly in Bitcoin. Analysts recommend considering shares in MicroStrategy and Robinhood, noting their expanding crypto services and indirect exposure to Bitcoin’s growth. Additionally, they spotlight U.S.-listed companies like Riot Platforms and CleanSpark, which are enhancing their bitcoin mining capabilities, and Core Scientific, which merges AI hosting with bitcoin mining.
With Bitcoin trading around $66,393, significantly up from the start of the year, Bernstein remains bullish. They see further growth potential, particularly for Core Scientific, which recently expanded its AI hosting capacity, solidifying its market position amidst a $2 billion contract extension.
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Crypto is in a constant state of flux. Tokenomics is no different.
Of course, there are absolutes in crypto. Private keys always grant access to digital assets within that public-key pairing, for example. That someone will inevitably launch a memecoin for every passing fad in our collective culture is another.
But crypto’s non-stop experiments with tokenomics have become integral to the asset classes’ core thesis.
How projects fund themselves, entice venture capital and encourage early participation is, in many cases, a large part of the identity of those individual coins.
For bitcoin, there…
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Recent data shows a significant shift in the cryptocurrency landscape as institutional investors now command a 20% stake in all US-traded spot Bitcoin ETFs. According to CryptoQuant CEO Ki Young Ju, filings indicate that over 193,000 BTC, valued at roughly $13 billion, are held via these ETFs by institutions such as Goldman Sachs and BlackRock’s iShares Bitcoin Trust ETF. The involvement of heavyweight firms underscores a burgeoning confidence in Bitcoin’s viability as a mainstream investment.
Fidelity’s FBTC and Grayscale’s GBTC are among the top funds, indicating strong institutional backing with substantial holdings. Notably, ARK 21Shares’ ARKB exhibits the highest institutional participation at 32.8%, signaling a robust appetite among asset managers for cryptocurrency exposure. These trends reflect a broader acceptance and increasing integration of Bitcoin within traditional investment portfolios.
A recent VanEck report correlates these inflows to a notable rise in Bitcoin prices, highlighting an 11% increase in October alone. This growth, driven by institutional investments, suggests a sustained bullish outlook for Bitcoin, reinforcing its potential for continued upward momentum in the financial markets.
