MicroStrategy’s recent purchase of 5,262 Bitcoin for $561 million underscores the firm’s ongoing commitment to expanding its BTC holdings. Despite speculation about a potential pause in acquisitions due to its
The recently-released 2025 Crypto Market Outlook report by Coinbase Institutional provides a comprehensive analysis of the cryptocurrency industry’s trajectory. Cryptocurrencies are evolving beyond their speculative origins, with the total market capitalization surging 96% in 2024 to reach $3.4 trillion by December. Coinbase attributes this growth to significant milestones such as the approval of spot Bitcoin
The growing speculation surrounding a potential presidential pardon for Sam Bankman-Fried (SBF) has been fueled by high-profile figures and shifting political tides. A major Trump ally, Elon Musk, for one, will be “shocked” if US President Joe Biden does not grant an early pardon to the disgraced former CEO of FTX. Crypto, Politics, and Pardons Bankman-Fried, who was convicted in November 2023 on seven charges, including fraud and embezzlement, is currently serving a 25-year sentence for his role in the collapse of the cryptocurrency exchange. However, rumors of a pardon have gained traction, partly due to his significant political connections. As one of the largest donors to the Democratic Party, Bankman-Fried’s ties to key political figures, particularly Biden, have led many to wonder whether his political influence could play a role in securing a pardon. Speculation surrounding the possibility of clemency gained additional attention following comments from Musk, who tweeted that he would be “shocked if this doesn’t happen.” This statement aligns with shifting predictions on platforms like Polymarket, where odds for a potential pardon surged from 4% to 13%, indicating a growing belief that SBF’s ties to political elites might influence his fate. SBF’s trajectory from crypto wunderkind to convicted fraudster has been one of the most dramatic downfalls in recent financial history. At his peak, he was hailed as a leading figure in the industry, having founded FTX in 2019 and quickly built it into one of the world’s largest exchanges. He cultivated a public persona as a tech innovator with a commitment to social causes that earned him widespread recognition beyond the crypto circles. His political contributions were massive, with over $5 million donated to Biden’s 2020 campaign and nearly all his donations directed toward Democrats. However, the collapse of FTX in late 2022 exposed a $8 billion hole in customer funds that sent shockwaves through the financial world. While the legal case against him resulted in a conviction, some continue to speculate that a presidential pardon could allow the Biden administration to move on from the scandal. Ross Ulbricht’s Fate Still Unclear Meanwhile, the odds of Biden pardoning Ross Ulbricht, creator of the Silk Road marketplace, currently stands at 9%. However, Ulbricht could see freedom under Donald Trump’s presidency after the president-elect pledged to pardon him earlier this year. Ulbricht was convicted in 2015 on multiple charges, including drug trafficking and money laundering, and sentenced to life in prison. While libertarian and crypto advocates see him as a symbol of free trade and argue his punishment is unjust, critics highlight Silk Road’s links to drug overdoses and allegations that Ulbricht plotted murders to protect his platform. The Silk Road, active between 2011 and 2013, pioneered anonymous online trading using Bitcoin and Tor. Ulbricht’s mother, Lyn, led a high-profile campaign to reduce her son’s sentence, attracting widespread public support. The post Elon Musk: ‘Shocked’ If Biden Doesn’t Pardon SBF Amid Rising Rumors appeared first on CryptoPotato .
MicroStrategy Inc (NASDAQ: MSTR ) announced another Bitcoin ( BTC ) purchase on December 23 at an average price of $106,662. This marks an announcement made at a price below the dollar-cost average, signaling a buy at Bitcoin’s local top. Nevertheless, the company is still profitable with its Bitcoin portfolio, and MSTR’s stock steadily sustains a premium against its holdings. According to Michael Saylor ’s announcement , MicroStrategy has acquired 444,262 BTC at an average cost of $62,257. This most recent purchase was of 5,262 BTC for $561 million and MicroStrategy’s lowest disclosed buy since July 2024. On that note, the economist and known Bitcoin critic Peter Schiff has commented on X, highlighting a “firepower” loss. Schiff has been commenting against Saylor’s Bitcoin strategy for a while, as Finbold reported in one occasion. “It seems like you are running out of firepower to keep propping up Bitcoin. Plus, not only is this your smallest buy, but the first time your average purchase price has been above the market price on the Monday you disclosed the buy.” – Peter Schiff MicroStrategy’s lowest Bitcoin buy at the top Interestingly, this recent purchase is approximately three times lower than the previous purchase at $100,000, announced on December 16. Moreover, it is nearly four times lower than the one before that, announced on December 9, as Lookonchain analyzed . The purchases were of 5,262, 15,350, and 21,550 BTC, respectively. In November, MicroStrategy made two buys superior to 50,000 BTC , or nearly ten times higher than last week’s acquisition. MicroStrategy Bitcoin acquisitions. Source: Lookonchain Novacula Occami, former Wall Street analyst, also commented on Michael Saylor’s strategy, explaining it relies on two pillars. First, Saylor buys when “numbers go up,” the analyst said, and then on “exciting the less sophisticated herd,” he concluded. Essentially, Occami believes the purchases are always made when Bitcoin shows strong momentum, usually amid a rally. This is supposedly done to attract retail traders with positive sentiment regarding BTC and MSTR. MSTR stock and Bitcoin (BTC) price analysis Indeed, MSTR stock is trading at $344.27, with a market capitalization that is two times higher than its Bitcoin holdings, making it a 100% premium against usual BTC investments for investors who want Bitcoin exposure through MicroStrategy. Meanwhile, BTC is trading at $93,113, at a 12% discount from Saylor’s most recent average Bitcoin acquisition price. Bitcoin (BTC) price vs. MicroStrategy (NASDAQ: MSTR) stock price. Source: TradingView / Finbold / Vini Barbosa Looking at Bitcoin’s chart, we can see that, after every MicroStrategy purchase, BTC experienced an aggressive drop below the average. This validates the two analysts’ criticisms regarding Michael Saylor’s Bitcoin strategy, which now experiences one of the longest recent drawbacks. However, it is notable that the company’s high time frame results are still massively positive, accumulating an unrealized profit of nearly $15 billion. Featured image from Shutterstock. The post MicroStrategy buys Bitcoin price top at $106k, already down 12% appeared first on Finbold .
Senator Ted Cruz wants Texas to be a global leader in cryptocurrency, seeing Bitcoin as a symbol of freedom. Ted supports crypto-friendly laws, runs mining rigs in West Texas, and opposes strict federal rules. With Texas already growing in crypto, Cruz believes it can lead the digital revolution. Senator Ted Cruz is one of the most passionate senators about Bitcoin and cryptocurrency. He wants Texas to be the center of crypto innovation, as he always expressed his vision wherever possible. Cruz views Bitcoin as more than just a currency or an asset he sees it as a symbol of freedom, decentralization, and independence, which Texas has always embraced. Ted Cruz’s vision for Texas as a crypto leader “We are also going to unleash crypto I’m proud to stand with crypto I’m proud to stand with Bitcoin and I am the only member of the United States Senate who is in fact a Bitcoin minor,” Cruz statements at America Fest 2024 by Turning Point USA in Phoenix, Arizona. Cruz’s stands for cryptocurrency just goes beyond words. He has made it clear through his actions, that he is fully invested in the success of Bitcoin, and awaiting the Bitcoin Reserve setup. He operates three Bitcoin mining facilities in West Texas, demonstrating his strong commitment to Bitcoin and his vision of transforming Texas into a crypto hub. “I am a strong advocate for Bitcoin and cryptocurrency in the U.S. Senate,” Cruz declared, emphasizing his goal to transform Texas into the global leader for Bitcoin. For Cruz, Texas is the perfect place for Bitcoin to flourish. “ Texas has the resources and mindset to be the center of this technology,” Cruz said, that the state is well suited for the digital asset revolution. The Senator also criticized Elizabeth Warren for limiting Bitcoin’s growth, and he is comparing her stance to China’s attempts to ban the cryptocurrency. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
The year 2024 has marked an unprecedented turnaround for cryptocurrency, with Bitcoin hitting record highs and the advent of multiple ETFs reshaping the market landscape. As Bitcoin surged, the overall
XRP is among cryptocurrencies with concentrated ownership in a few top addresses, raising concerns about the impact of centralization. A breakdown of ownership indicates that Ripple -controlled addresses account for most of the asset, primarily locked in escrow. Major exchanges also rank among the top holders. The top 10 XRP holders collectively own 35.39% of the total supply, amounting to 27.53 billion tokens. Ripple dominates this list, with its seven accounts holding 24.53 billion XRP, including tokens in escrow, representing 31.57% of the total supply, according to data retrieved by Finbold from XRP Scan on December 23. Additionally, Uphold and Bithumb features are available among the top owners. Uphold holds 1.86 billion XRP (1.86%), and Bithumb accounts for 1.39 billion XRP (1.39%). XRP top ten holders. Source: XRP Scan XRP centralization concerns Although Ripple has implemented a clear XRP management plan, the concentration of assets in a few company-affiliated addresses raises concerns about centralization. Critics argue this goes against the principles of blockchain decentralization and trustlessness. For instance, cryptocurrency researcher Justin Bons challenged Ripple’s decentralization claims earlier in December, highlighting possible flaws in XRP’s design. In an X post on December 3, Bons asserted that XRP relies on a centralized Unique Node List (UNL) and uses Proof of Authority (PoA), allowing the XRP Foundation to control validators and enforce compliance. Bons further criticized XRP’s lack of validator incentives, a 99.8% pre-mine, and reliance on founder-held token sales, which he believes compromise fairness and transparency. He recommended Ripple adopt a Proof of Stake (PoS) model to decentralize validator selection and promote transparency. You are completely focused on a detail that absolutely does not matter in any realistic way. Validators are not compensated. They cannot censor unless node operators configure their code to allow them to. They do resolve the double spend problem, but honest users don't double… — David "JoelKatz" Schwartz (@JoelKatz) December 3, 2024 Financial educator and Bitcoin ( BTC ) advocate Rajat Soni echoed similar concerns, labeling XRP a ‘scam’ capable of enabling price manipulation. Despite these criticisms, it is worth noting that Ripple does not control the XRP Ledger. Changes to the ledger require validator consensus rather than unilateral decisions. Furthermore, the total XRP supply has remained capped at 100 billion since its pre-mining phase. XRP price analysis As of press time, XRP was trading at $2.14, down nearly 4% in the last 24 hours and over 14% on the weekly chart. The bearish sentiment has hindered XRP’s trajectory toward the $3 resistance level. XRP seven-day price chart. Source: Finbold XRP previously broke out of prolonged consolidation below $1, driven by post-election optimism following Donald Trump’s election and the upcoming departure of Securities Exchnage Commission ( SEC ) Chair Gary Gensler, which has boosted investor confidence. Regarding the next price movement, crypto analyst Dark Defender noted in a December 22 post that XRP is consolidating within a descending triangle and testing a key support line around $1.80. XRP price analysis chart. Source: Dark Defender The daily chart highlighted resistance above $2.90. However, the Relative Strength Index ( RSI ) remains below the golden cross threshold, indicating weak bullish momentum. A breakout above resistance could trigger a rally, while a breakdown below support may lead to further declines. Featured image via Shutterstock The post Top 10 XRP holders own 35% of all tokens appeared first on Finbold .
Cryptocurrency exchange Binance announced that its venture capital arm Binance Labs has invested in Usual, a decentralized stablecoin issuer that aims to reshape the stablecoin market with innovative and community-driven solutions. Backed by real-world assets (RWA), Usual takes a unique approach to stablecoins by redistributing value and ownership through its governance token, USUAL. Unlike traditional stablecoin issuers that operate like centralized banks, Usual emphasizes shared ownership and community empowerment. According to its own statement, the project distributes 90% of USUAL tokens to its users, fostering a decentralized and egalitarian ecosystem. “Stablecoins have long served as a gateway to onboarding new users into the crypto ecosystem, and Usual’s community-first approach sets a new benchmark for inclusivity and empowerment,” said Alex Odagiu, Chief Investment Officer at Binance Labs. “At Binance Labs, we look for projects that drive meaningful innovation and expand the ecosystem, and we’re excited to support Usual’s mission to push the boundaries of what stablecoins can achieve.” Related News: Binance Founder CZ Reveals the Country with a Huge Amount of Bitcoin: “Twice as Much as the US” Pierre Person, CEO of Usual Labs, expressed his excitement about the partnership with Binance Labs, saying: “We are proud to have Binance Labs as a co-lead in our Series A funding round. Their track record of supporting transformative projects that prioritize technological innovation and real-world benefit aligns perfectly with Usual’s mission.” *This is not investment advice. Continue Reading: Binance Announces New Altcoin Project It Invested In – Also Listed on its Platform
A crypto analyst has shared a TD Sequential chart indicating that the Bitcoin price is flashing a major buy signal in the 4-hour time frame. This signal suggests that Bitcoin’s bearish momentum could be waning, making this a potentially critical moment to consider entering the market. Bitcoin Price TD Sequential Flashes Buy Signal A TD Sequential is a unique technical indicator that identifies trend exhaustion and price reversals and indicates buy or sell signals. According to an X (formerly Twitter) post by crypto analyst Ali Martinez, Bitcoin’s 4-hour chart showcases a green “9” candle, signaling a potential buying opportunity. Related Reading: Dogecoin Price Above $10: Historical Data Shows How High DOGE Will Go This Bull Cycle Typically, in a downtrend, the green 9 candle is interpreted as a buy signal, indicating that bearish momentum might be reaching exhaustion and prices could be getting ready for a rebound. Martinez also shows an ”A13” marker on the TD Sequential chart, which represents a countdown phase that tracks 13 additional candles and identifies a stronger trend exhaustion. During a downtrend, the appearance of a TD Sequential A13 often signals a potential decline in a cryptocurrency’s sell-off phase, reinforcing the possibility of a price reversal. Bitcoin’s current buy signal emerged as its price exceeded $94,000. This buy signal suggests an optimal time to enter the market, with the $94,915 price point highlighted as a potential entry for traders aiming to capitalize on a possible Bitcoin price rebound. Although the TD Sequential is an indicator used to identify buy and sell signals, market participants can exercise caution by considering additional factors like volatility, broader market sentiment, and more. If the current buy signal holds, Martinez has predicted that a price rebound can be expected. However, a failure to maintain its current price could lead to further downsides, potentially pushing Bitcoin to its next critical support level. BTC Market Top Set At $168,500 In another more recent X post, Martinez presented a chart of Bitcoin’s price movements, predicting a market top above $168,500 based on the Mayer Multiple. The chart shows Bitcoin price performance based on the Mayer Multiple, which compares BTC to the 200-day Moving Average (MA). Related Reading: Bitcoin Price Above $100,000 Again? Why $99,800 Is An Important Resistance To Break The red line, as seen on the chart, indicates the Mayer MultipLe (MM) at 2.4, while the green line showcases MM at 0.8. Additionally, the blue line is the Oscillator, which tracks the Mayer Multiple over time. Historically, the Bitcoin price tops have coincided with the Mayer Multiple reaching the 2.4 level or higher. Currently, Bitcoin’s Multiple Mayer sits at 1.3845 in the chart. However, if its price continues to rise and the MM reaches 2.4 again, Martinez predicts a market top above $168,500 for Bitcoin. As of writing, Bitcoin’s price is $94,692, meaning a surge to $168,500 would require a significant 78% increase from its present market value. Featured image created with Dall.E, chart from Tradingview.com
Bitcoin recently declined to $93,000, raising investor concerns. Potential support level for BTC is at $91,000, with risks of further drops. Continue Reading: Market Trends Reflect Bitcoin’s Decline and Investor Sentiment The post Market Trends Reflect Bitcoin’s Decline and Investor Sentiment appeared first on COINTURK NEWS .