Blockstream, a leading bitcoin infrastructure developer, has successfully raised $210 million in a convertible note financing round, spearheaded by Fulgur Ventures. This capital infusion aims to accelerate the adoption of Blockstream’s Bitcoin Layer 2 solutions, notably the Liquid Network and Core Lightning. These technologies are designed to enhance bitcoin transactions’ speed and cost-efficiency, making them more accessible.

Adam Back, co-founder and CEO of Blockstream, stated, “This latest fundraise represents a defining moment for Blockstream as we embark on a critical new phase of growth to further bridge the gap between Bitcoin and the wider world of finance.” The company also plans to expand its mining operations and boost its bitcoin treasury in anticipation of the next bitcoin market cycle.

With over $1.8 billion in assets issued on Liquid, including stablecoins and tokenized bonds, and more than 3,844 BTC locked onchain, Blockstream is cementing its position as essential infrastructure within the Bitcoin ecosystem. This move is poised to leverage the growing interest in bitcoin as a key asset class and drive the broader adoption of tokenization.

Source

The daily net flow of U.S. Bitcoin ETFs on October 15, 2024, highlights significant movements across various funds. Fidelity’s Bitcoin ETF (Ticker: FBTC) had a remarkable net inflow of 5,485 BTC, leading the day’s activity. ARK’s Bitcoin ETF (Ticker: ARKB) followed with an inflow of 2,596 BTC, while Bitwise (Ticker: BITB) added 1,520 BTC.

Conversely, Grayscale’s GBTC fund saw the largest outflow, with a reduction of 697 BTC. However, other funds like BlackRock (Ticker: IBIT) and Invesco Galaxy (Ticker: BTCO) managed to add 1,206 BTC and 1,470 BTC, respectively. The VanEck (Ticker: HODL) and Valkyrie (Ticker: BRRR) ETFs also recorded modest inflows.

By the end of the day, the total Bitcoin holdings across all listed ETFs reached 934,453 BTC, valued at approximately $62.5 billion. The overall net inflow amounted to 11,935 BTC, equivalent to about $798.6 million, showcasing strong investor interest and positive momentum in the Bitcoin ETF space on that 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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Follow Frank on X.

At face value, the statement “Bitcoin can reduce racism” seems silly, if not downright offensive to those who have been the victims of racism. And it presupposes that an open-source protocol, which is completely indifferent to the whims of human emotions, can have any impact whatsoever on reducing racism, one of the most vile expressions of human emotions.

I get that (as much as I can as a white dude), but follow me for a moment. While…

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Not so fast. Let’s take this one seriously.

Vice President Kamala Harris went live with her first crypto-specific policy yesterday, vowing to help protect Black Americans who invest in cryptocurrency. This is standard issue stuff for the Democratic Party in 2024, where as Nik points out, the cause of anti-racism is alive and well.

For the sake of argument, let’s even put aside Nik’s more valid critiques. 

I, too, am concerned that, without policy specifics, a Harris administration could use this policy to prevent Black Americans from the benefits of owning Bitcoin….

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Geoff Kendrick from Standard Chartered forecasts a bullish future for bitcoin, eyeing a potential rise to $73,800 as the U.S. presidential election nears. The surge in momentum is linked to Donald Trump’s improved polling numbers and significant inflows into bitcoin spot ETFs, with heightened activities in the call options market further amplifying investor optimism.

Key market indicators like the steepening U.S. Treasury yield curve and a spike in spot bitcoin ETF inflows underscore a robust interest in digital assets. Kendrick notes that recent U.S. CPI data suggests increased market volatility and a move towards alternative investments like bitcoin, setting the stage for a significant price climb ahead of the election.

With just three weeks to go, the odds favoring Trump are stirring market dynamics, seen in the sharp uptick in bitcoin ETF investments and speculative activities in bitcoin call options. Kendrick’s analysis positions bitcoin as a strong contender for substantial gains, influenced by political outcomes and market trends.

The Block

I’ll admit – just a few years ago, I’d be shocked to hear myself say that the CEO of BlackRock is making good points about Bitcoin. As head of the world’s largest asset manager, I assumed Larry Fink would be Bitcoin’s biggest critic. But compared to dismissive remarks on Bitcoin from other Wall Street leaders like Jamie Dimon, Fink’s perspective is a refreshing change.

If you think otherwise, yesterday’s earnings call proves it.

There, Fink declared, “I’m…

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