Over the past seven years, Bitcoin has experienced several market tops, each coinciding with significant spikes in realized profits by investors, as highlighted by recent data from Glassnode and analyzed by Ali_charts on Twitter. The chart reveals an intriguing pattern where every peak in Bitcoin’s price is matched by an impressive increase in profits taken by investors. For instance, in March, realized profits for Bitcoin soared to $9.50 billion, and by May, they reached a new high of $10.16 billion.

These profit surges are seen as a clear indicator of the cryptocurrency’s growing appeal and its resilience in the face of economic fluctuations. The consistent growth in realized profits at each market top suggests a maturing market where investors are becoming more adept at navigating the volatility and capitalizing on the opportunities presented by Bitcoin. This trend underlines the cryptocurrency’s significant role in modern finance, offering lucrative returns for those who understand its cycles.

Brink, a non-profit focused on funding open source Bitcoin development published its annual report detailing over $1 million in donations to Bitcoin developers in 2023. It was founded in 2020 by renowned Bitcoin developers John Newbery and Mike Schmidt, aims to provide financial support and mentorship to promising developers working on open-source Bitcoin development.

In the report published on its 4th anniversary, Brink disclosed it received approximately $2.4 million in donations last year from over 500 contributors, with Jack Dorsey’s StartSmall initiative as a major donor.

Brink’s expenses totalled around $1.6 million in 2023. Over $1.2 million went directly to developer salaries and…

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Bitcoin has been unfairly labeled as a “risk-on” asset, says BlackRock’s head of digital assets, Robbie Mitchnick. Speaking in a Sept. 24 interview with Bloomberg, Mitchnick argued that Bitcoin’s long-term drivers differ from traditional equities and other risk assets, calling it a “scarce, decentralized, non-sovereign asset.”

BlackRock’s recently released Bitcoin white paper labels BTC as a “unique diversifier,” positioning it as a hedge against monetary and geopolitical risks. Mitchnick emphasized that Bitcoin’s properties make it more aligned with risk-off assets like gold, contradicting the common belief that it should behave like equities.

Despite a minor operational update involving BlackRock’s Bitcoin ETF custodian, Mitchnick reassured investors that nothing significant has changed. With BlackRock’s iShares Bitcoin Trust (IBIT) offering regulated access to Bitcoin, Mitchnick believes Bitcoin’s true value lies in its global potential as an emerging alternative currency.