Bitcoin & Beyond is an educational series by the team at The Rollup focused on a new and emerging class of builders in the Bitcoin ecosystem. Through spaces, panels, and interactive presentations, the objective is to provide deep technical insights into innovative scaling projects.

In an interview with Chase from Molecule, we dive into the growing appetite for next-generation virtual machines (VMs) aimed at enhancing Bitcoin’s programmability and scalability. Molecule is one company at the forefront of this experiment. Their attempt to implement Solana’s Virtual Machine (SVM) with Bitcoin is a strong signal that builders are also considering alternatives to the popular Ethereum Virtual…

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Robinhood Markets Inc. is planning to offer cryptocurrency futures in the US and Europe soon. Following its $200 million acquisition of Bitstamp Ltd., Robinhood aims to leverage Bitstamp’s licenses to provide perpetual futures for Bitcoin and other tokens in Europe. In the US, Robinhood plans to launch CME-based futures for Bitcoin and Ether, insiders reveal.

While the company states there are no immediate plans to launch these offerings, ongoing conversations indicate a strong potential for future developments. The growing demand for crypto derivatives, which outpaced spot trading volumes with $3.69 trillion in monthly derivatives in May, highlights the lucrative opportunity for Robinhood in this market.

Despite a Wells notice from the US Securities and Exchange Commission, Robinhood is expanding its crypto strategy. The acquisition of Bitstamp, expected to close in early 2025, and a futures broker license from Marex signal Robinhood’s commitment to enhancing its crypto offerings and capitalizing on the booming futures market.

Bloomberg

U.S. Bitcoin ETFs reveal significant insights into the current market dynamics and investor sentiment. BlackRock (IBIT) leads with a massive holding of 306,979 BTC, though no net inflow was recorded. Grayscale (GBTC) holds 275,758 BTC, also showing no net change, while Fidelity (FBTC) maintains 167,463 BTC with no net inflow.

ARK Invest (ARKB) stands out with an increase, holding 46,026 BTC and a net inflow of +710 BTC. Invesco Galaxy (BTCO) also shows notable growth with holdings of 7,282 BTC and a net inflow of +531 BTC. Franklin Templeton (EZBC) reports 5,887 BTC with a modest net inflow of +58 BTC.

In total, these ETFs collectively hold 865,218 BTC, valued at approximately $53.8 billion. The net inflow for this period is +1,298 BTC, equating to an additional $80.8 million invested in Bitcoin ETFs. This positive net inflow reflects growing confidence and interest in Bitcoin as an investment vehicle through ETF structure.

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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Digital Shovel Holdings Inc. has filed a lawsuit against RK Mission Critical LLC, RK Mechanical LLC, and RK Industries LLC in the US District Court for the District of Colorado, accusing them of patent infringement, according to a press release sent to Bitcoin Magazine. The dispute revolves around Digital Shovel’s V-Shape technology, designed to increase miner density in crypto mining containers.

Digital Shovel developed the V-Shape technology in 2018, securing patents in 2022, 2023, and 2024. These patents enable a 30% increase in miner density, providing significant operational advantages. According to the complaint, Compute North, a client of RK Mission Critical, initially sought to…

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Arthur Hayes, co-founder of BitMEX, has reignited the debate on Bitcoin versus gold with a compelling analysis. Highlighting Bitcoin’s technological edge, Hayes emphasizes that its cryptographic blockchain allows for faster and more efficient transactions compared to gold. This technological superiority positions Bitcoin as a more attractive alternative in the digital financial landscape.

Hayes points out that Bitcoin has significantly outperformed traditional assets like gold and stocks since its inception in 2009. This performance underscores Bitcoin’s potential as a safe-haven asset, combining the speed of digital transactions with the scarcity principle traditionally associated with gold.

Moreover, Hayes discusses recent market trends and geopolitical shifts, suggesting that the world is transitioning to a new global financial order. As Bitcoin continues to evolve, it is poised to play a crucial role in this emerging economic landscape, offering a stateless, efficient alternative to both gold and traditional fiat currencies.

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Bitfarms is fending off a hostile takeover from Riot Platforms while ramping up its Bitcoin mining operations. In June, Bitfarms mined 189 bitcoins, a significant increase from May’s 156 bitcoins. The company sold 134 of the mined bitcoins for $8.8 million, increasing its treasury holdings to 905 bitcoins, valued at $55.2 million as of June 30.

Chief Mining Officer Ben Gagnon highlighted ongoing upgrades, with over 39,000 new miners installed and 39,000 old miners removed this year. These enhancements have boosted Bitfarms’ hashrate and energy efficiency, particularly in its Quebec facilities. The company ended June with 11.4 EH/s installed and 10.4 EH/s operational, marking a 96% year-over-year increase and a 39% month-over-month rise.

Despite a 21% month-over-month growth in bitcoin production, the output is down 51% from last year due to April’s Bitcoin halving. This event, which halves the reward for mining, occurs every four years to control Bitcoin’s supply, ultimately capping it at 21 million.

Report

Bitcoin investors could see a sharp rally to $150,000 by the end of the year, according to Tom Lee, Fundstrat’s head of research. Lee, known for his bullish bitcoin forecasts, anticipates a 138% upside from its current price, despite a 7% decline last month.

The recent slide in bitcoin prices is attributed to nervousness over payouts from Mount Gox, the bankrupt crypto exchange. Starting this month, the trustee will distribute repayments to 20,000 users, which has pressured crypto prices. However, Lee believes this overhang will soon dissipate, setting the stage for a significant rebound.

As the Federal Reserve looks to ease interest rates, other bitcoin forecasters remain optimistic. Bitcoin has already recovered from its 2022 losses, reaching an all-time high of $73,000 this year. Lee suggests that with the Mount Gox issue resolved, the path is clear for another substantial rally in the second half of 2024.

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