Transaction URL: https://blockchain.com/btc/tx/92f2c43fc6f9656b6ecc9a03f4a1b83bb1e7ef9887f04a5e6d48e8a9b0dd92fc
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“It’s mostly paranoid crypto anarchists that say that.”
With these eight words, issued on the “Markets with Madison” podcast this week, Microstrategy CEO Michael Saylor evoked outrage from just about everyone in Bitcoin.
Shinobi called him a “spook.” Carvalho was confused. Svetski claimed this will start the next Fork Wars.
Put simply, Saylor said a bad thing. He broke the taboo. He said you’re better off trusting your Bitcoin in state custody than holding your own private keys, then went further, calling out all of the businesses engaged in custody projects by…
Read more on BitcoinMagazine
Bitcoin futures trading on the Chicago Mercantile Exchange (CME) has achieved a new peak, with open interest surpassing $12.26 billion as of October 18. This remarkable growth, a 36% increase in just two weeks, not only surpasses the previous record set in April but also signals a robust confidence in Bitcoin’s market prospects. The latest figures mark the highest since early April when the open interest was slightly lower at $11.84 billion.
This surge is a clear indication of heightened activity and interest from institutional investors. With CME being a leading regulated derivatives exchange, it offers the necessary regulatory clarity and structured market that attract hedge funds, asset managers, and other professional investors. The record levels of open interest represent a significant endorsement of Bitcoin’s potential, underlining its growing acceptance and adoption in mainstream financial sectors.
Bitcoin hit roughly $69,400 over the weekend before retreating slightly as wars rage on and the US election approaches.
The asset’s price stood at roughly $67,600 at 4:30 pm ET — down about 2% on the day but up more than 7% from a week ago.
BTC is about 8% off its all-time high price of more than $73,000 set in March.
Compass Point analysts Joe Flynn and Ed Groshans said in a Friday research note they expect a new price peak for the asset in the coming weeks or months.
The factors leading them to that conclusion include increasing stablecoin liquidity; investors front-running $10 billion worth of FTX creditor settlements; the extension of the Mt. Gox repayments deadline,…
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Digital asset investment products experienced a massive inflow of US$2.2 billion, the largest weekly increase seen since July, fueled by optimism about a potential Republican win in the upcoming US elections. Republicans are typically viewed as more favorable towards cryptocurrencies, and this sentiment has significantly boosted market activity. As a result, trading volumes have escalated by 30%, and the total assets under management are now teetering on the US$100 billion mark.
In the US alone, there was an inflow of US$2.3 billion, contrasting with minor outflows in countries like Canada, Sweden, and Switzerland. Bitcoin led the pack with substantial inflows of US$2.13 billion, followed by Ethereum, which also showed strong performance with US$58 million. Other cryptocurrencies like Solana, Litecoin, and XRP saw smaller, yet noteworthy inflows. Despite the overall positive trend, multi-asset products experienced outflows, concluding a 17-week streak of gains.
The daily net flow of U.S. Bitcoin ETFs on October 21, 2024, illustrates strong and positive movements across several key funds. BlackRock’s Bitcoin ETF (Ticker: IBIT) experienced the highest inflow, adding 1,024 BTC to its holdings. ARK’s Bitcoin ETF (Ticker: ARKB) also performed exceptionally well, with an increase of 1,598 BTC. Additionally, Grayscale’s Bitcoin ETF (Ticker: GBTC) saw a significant inflow of 675 BTC, and Fidelity’s Bitcoin ETF (Ticker: FBTC) contributed positively with 262 BTC added.
Other funds like Bitwise (Ticker: BITB) and Invesco Galaxy (Ticker: BTCO) also reported increases of 523 BTC and 248 BTC, respectively. However, some funds like VanEck (Ticker: HODL), Valkyrie (Ticker: BRRR), and Franklin Templeton (Ticker: EZBC) reported no changes in their holdings.
In total, the Bitcoin holdings across all listed ETFs amounted to 957,794 BTC, with an overall net increase of 4,330 BTC for the day, valued at approximately $292.1 million. This substantial net flow demonstrates robust investor interest and the dynamic nature of the U.S. Bitcoin ETF market on this particular day.
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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Payments company Stripe is set to acquire stablecoin platform Bridge in a deal the companies say will “accelerate the adoption and utility of tokenized dollars.”
The transaction is subject to regulatory approvals and is expected to close in the coming months, Bridge noted in a Monday blog post.
TechCrunch founder Michael Arrington reported the value of the deal to be $1.1 billion. A Stripe spokesperson declined to comment on the deal terms, and Bridge did not immediately return a request for details.
Read more: Stripe reintegrates crypto payments in the US
Stripe CEO Patrick Collison said in an X post that his company seeks to build “the world’s best stablecoin…
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