Transaction URL: https://blockchain.com/btc/tx/1af4565d1282d72f98cda0321e64c000581c79f980400137cf7b9c1444fca86a
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The Federal Reserve made a significant decision today by cutting interest rates by 50 basis points, lowering the federal funds rate target range to 4.75%-5%. The move, the first substantial cut in over four years, reflects concerns over the state of the U.S. economy, despite continued reported economic expansion.
According to the Federal Reserve’s official statement, recent economic activity indicators show good growth, but job gains have slowed, and the unemployment rate has slightly risen. While inflation has made progress toward the Committee’s 2% target, it…
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As of September 18, 2024, U.S. Bitcoin ETFs experienced significant net flows, with a total increase of 2,302 BTC. BlackRock’s IBIT ETF remained steady at 357,550 BTC with no inflow. However, Fidelity’s FBTC ETF led the gains, adding 940 BTC, bringing its total holdings to 175,865 BTC.
On the downside, Grayscale’s GBTC ETF saw a significant reduction, losing 368 BTC, leaving it with 221,803 BTC. On the positive side, ARK Invest’s ARKB ETF grew by 699 BTC, reaching 45,707 BTC, while Bitwise’s BITB ETF added 752 BTC to reach 37,976 BTC. Smaller increases were recorded by Grayscale’s BTC ETF (+49 BTC) and VanEck’s HODL ETF (+85 BTC).
Franklin Templeton’s EZBC ETF gained 145 BTC, bringing its total to 6,901 BTC. Despite some fluctuations, the total Bitcoin held across all ETFs rose to 906,020 BTC, with a net value increase of $138.1 million. These movements reflect ongoing institutional interest in Bitcoin, with key ETFs continuing to accumulate despite market shifts.
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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MicroStrategy, a leading business intelligence firm and major Bitcoin holder, has expanded its convertible note offering to $875 million, a 25% increase from the initially planned $700 million. Scheduled to mature in 2028, the notes will finance the redemption of $500 million in existing debt and further Bitcoin acquisitions. This strategic move underscores the company’s commitment to integrating Bitcoin into its financial operations and capital management strategy.
Just last week, the firm announced the purchase of an additional 18,300 BTC, totaling an investment of about $1.11 billion. This acquisition increased its Bitcoin holdings to approximately 244,800 units, bought at an average price of $38,585 per BTC. MicroStrategy’s continuous investment in Bitcoin supports its vision of long-term growth in cryptocurrency value and market integration.
The offering, available only to qualified institutional buyers, features a minimal interest rate of 0.625% per annum. Set to close on September 19, this development marks a significant step for MicroStrategy in securing institutional support and financial flexibility for its pioneering Bitcoin strategy.
Over the past 24 hours, Stacks’s STX/USD price has fallen 4.1% to $1.5. This continues its negative trend over the past week where it has experienced a 4.0% loss, moving from $1.55 to its current price.
The chart below compares the price movement and volatility for Stacks over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has tumbled 61.0% over the past week while the circulating supply of the coin has risen 0.79%….
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Anthony Scaramucci, the founder of SkyBridge Capital and a former Trump administration official, predicts a promising future for Bitcoin, anticipating new highs fueled by impending US rate cuts and forthcoming cryptocurrency-friendly legislation. Scaramucci highlighted the potential for “pro-cryptocurrency, Bitcoin, and stablecoin legislation” in the US following the November presidential election, expected to take effect early in the next congressional session.
With a bipartisan approach to cryptocurrency legislation supported by both parties, Scaramucci’s optimism is further bolstered by positive signals from Republican nominee Donald Trump and Democratic Vice President Kamala Harris, who are both showing favorable stances towards digital assets. Scaramucci is particularly hopeful about Harris’s administration fostering the growth of the cryptocurrency sector while ensuring proper safeguards.
Scaramucci also foresees the Federal Reserve slashing borrowing costs significantly, which he believes will boost asset prices both in the US and globally. He boldly predicts that Bitcoin could reach $100,000 by the year’s end, driven by a combination of regulatory clarity, political support, and favorable economic policies.
The Santa Monica-based non-profit Proof of Workforce Foundation has partnered with Bitcoin financial services company Fold and Pickle Pop to organize a Bitcoin-themed Pickleball tournament, offering a $5,000 prize pool for entrants and winners.
The tournament is slated to be held on October 18 in Santa Monica, California during the Peer to Pier Bitcoin Festival. Featuring both a semi-pro and amateur division, the winner of each division will receive their payouts in bitcoin. Entrants will also have the opportunity to win Bitcoin hardware wallet devices provided by CoinKite.
“This will be an incredible event, bringing together two talented and high growth communities, Bitcoiners and…
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