Dave Portnoy, founder of Barstool Sports, announced plans to invest $5-10 million in Bitcoin if its price drops to the $40,000 range. Portnoy, known for his influence in sports and pop culture media, made this statement via a video post on X, formerly Twitter. He emphasized that while he personally owns Bitcoin, he wouldn’t use Barstool funds to purchase at the $60,000 level.

Portnoy’s relationship with Bitcoin has been tumultuous. He initially bought the cryptocurrency during the pandemic but sold it shortly after, a decision he has publicly regretted as Bitcoin’s value soared afterward. This time, Portnoy is prepared to take a significant position if the price drops to his target range.

In his recent announcement, Portnoy highlighted his existing personal Bitcoin holdings and clarified his strategy for using Barstool money. “I already have a ton of personal bitcoin, so don’t get it confused,” he stated, underscoring his commitment to leveraging a potential dip for a substantial investment.

X

Peter Thiel, former PayPal CEO and co-founder of Founders Fund, has confirmed he still holds Bitcoin, though he wishes he had bought more earlier. Speaking at the Aspen Ideas Festival, Thiel responded to CNBC’s Andrew Ross Sorkin, stating, “I still hold some. I didn’t buy as much as I should have.”

Despite his ongoing investment, Thiel expressed skepticism about Bitcoin’s future price potential, adding, “I’m not sure it’s going to go up that dramatically from here.” In February, Reuters reported that Founders Fund had invested $100 million in Bitcoin last year at prices below $30,000.

Thiel’s firm began investing in Bitcoin in 2014, making $1.8 billion by selling before the 2022 market collapse. Known as a longtime Bitcoin advocate, Thiel has consistently emphasized his belief in cryptocurrency, even lamenting during the 2021 bull run that he had not invested enough.

CNBC

Private companies are increasingly embracing Bitcoin, with several holding substantial amounts of the cryptocurrency. Mt. Gox, once a major Bitcoin exchange, still holds about 200,000 BTC, valued today at approximately $12.2 billion. Block dot one, engaged in blockchain and cryptocurrencies, possesses 140,000 BTC, which is worth around $8.5 billion. This demonstrates their strong belief in Bitcoin’s long-term potential.

Tether Holdings LTD, known for the USDT stablecoin, has invested in 75,354 BTC, now valued at $4.6 billion, highlighting its significant stake in the crypto market. Xapo Bank and BitMEX, both prominent in crypto exchange and banking, own 38,931 BTC and 36,794 BTC respectively, with their holdings also valued in the billions.

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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The Securities and Exchange Commission (SEC) has initiated legal action against Consensys Software Inc., alleging multiple violations of federal securities laws related to its MetaMask services. According to the SEC, since 2016, Consensys has not only failed to register as a broker but also neglected to register the offering and sale of certain securities, impacting investor protections significantly.

As per the complaint, filed in the Eastern District of New York, Consensys has operated as an unregistered broker since October 2020 through its MetaMask Swaps service. Furthermore, starting January 2023, the company reportedly engaged in unregistered securities offerings via its MetaMask Staking service. These actions have allegedly deprived investors of crucial legal safeguards.

The SEC’s lawsuit highlights that through these unregistered activities, Consensys has amassed over $250 million in fees. The Commission seeks to enforce securities laws strictly to ensure compliance and protect investor interests in the rapidly evolving crypto asset market.

Source

Asset manager 21Shares has submitted an S-1 registration statement to the SEC for a spot Solana ETF, just a day after VanEck made a similar filing. This move highlights growing interest in Solana as an investment vehicle among major asset managers.

Speculation is rising that more firms may follow suit, especially with crypto proponents suggesting that a potential victory by Donald Trump in the upcoming US elections could support the launch of such products. The flurry of activity around Solana ETFs underscores the increasing acceptance and potential of cryptocurrencies in the financial markets.

SEC filing