Matador Technologies is making waves in the crypto sector by adopting Bitcoin as a treasury reserve asset, mirroring strategies implemented by industry behemoths like MicroStrategy. With a planned initial purchase
Matador Technologies is following in MicroStrategy’s footsteps, sharing a board member with Japanese firm Metaplanet—another Bitcoin buyer.
After months of turmoil and a settlement with Riot Platforms, Bitfarms’ stock performance remains disappointing. Is a rebound for $BITF overdue, or is the company slowly losing its position in the market? Let’s dive in! Bitfarms Faces a Crossroads The following guest post comes from Bitcoinminingstock.io, the one-stop hub for all things bitcoin mining stocks,
Prediction markets have gone ballistic. Kalshi, one of the sharpest platforms out there, says there’s now a 77% chance that one of the Magnificent 7 companies (Apple, Amazon, Meta, Microsoft, Tesla, Nvidia, or Alphabet) will take the plunge and buy Bitcoin in 2025. A few months ago, those odds were sitting at 49%. What happened? Michael Saylor, a man who treats Bitcoin like religion, has been out here pushing companies like Microsoft to stop playing it safe and start stacking sats. Let’s call it what it is: the market smells blood, and by blood, we mean Bitcoin. 2025 could be even better than 2024 has already been. These guys have been circling the crypto waters for years, and the odds are now higher than ever that one of them is finally going to bite. Let’s take a look at what they think about Bitcoin *now.* Alphabet keeps Bitcoin at arm’s length Company number one is Alphabet, Google’s parent company, which has been doing that thing where it dips a toe into the crypto pool but doesn’t want to admit it’s swimming. Back in 2018, it banned crypto ads altogether because, apparently, scams are bad for business. Fast-forward to this year, and they seem like they’ve realized blockchain technology might actually be worth something. Google Cloud is exploring blockchain for enterprise clients, focusing on things like security and transparency. Meanwhile, Alphabet’s financials are looking good. Google Cloud revenue hit $11.4 billion in Q3, up 35%. The company’s stock is up more than 30% since September, making it a top performer in that market. Amazon’s boardroom brawl Amazon’s shareholders aren’t exactly the same though. In December, they told the board to put their money where the future is. Specifically, they want Amazon to invest 5% of its $88 billion in cash reserves into Bitcoin. That’s $4.4 billion, for those keeping score at home. But wait, there’s more. Insiders reportedly say Amazon is already thinking about dropping $250 million on Bitcoin. Why? Because new accounting rules from the Financial Accounting Standards Board (FASB) make it easier to hold crypto on the books. Meanwhile, rumors are going around that Amazon could start accepting Bitcoin, Ethereum, and Cardano as payment soon. Amazon’s stock is trading at $225, up 20% for the year. With a market cap of $2.36 trillion, they’re incredibly powerful. If they jump into Bitcoin, it’ll be like Tyson stepping into a middleweight ring. Apple sticks to its lane As for Apple, it isn’t exactly rushing to buy Bitcoin. Instead, they’re making it easier for their customers to buy it. Earlier this month, the company partnered with Coinbase to let users buy cryptos directly through Apple Pay. That’s all we got on them for now. Apple’s stock is trading at $180, with a market cap north of $2.8 trillion. They’re playing it safe, but their users? Not so much. Might be time to give the people what they want. Meta pivots to NFTs while Microsoft backs the blockchain Meta, the company formerly known as Facebook, has been pushing NFTs hard, integrating them into Instagram and Facebook. Reports say NFT transactions on Meta’s platforms are up 40% since launch. But let’s not forget Meta’s bigger play: the metaverse. They’re betting on blockchain to power virtual transactions, and that means they’re not done with crypto yet. Meanwhile, Microsoft is keeping things corporate. Azure, its cloud platform, has rolled out Blockchain-as-a-Service (BaaS). Over 500 companies are already using it to build decentralized apps. Microsoft is also throwing cash at startups in DeFi and NFTs. The stock is $380 a share and the company has a $2.8 trillion market cap. But when Michael Saylor suggested that they add Bitcoin to their balance sheet just some weeks back, they told him NO. Tesla and Nvidia: Bitcoin holdings and mining wars Tesla’s Bitcoin story is well-known. They’ve got $1.5 billion in Bitcoin on their books and are thinking about bringing back Bitcoin payments for their cars. Elon Musk might be polarizing, but Tesla’s crypto strategy isn’t. They’re holding steady while pushing for greener mining practices. Their stock? Trading at $280, with a market cap of $900 billion. Then there’s Nvidia. Their GPUs are the backbone of crypto mining, especially for Bitcoin miners. But Nvidia’s relationship with crypto isn’t all roses. They’re facing a Supreme Court case over allegations they misled investors about crypto revenue back in 2018. Still, their stock is trading at $140, with a market cap of $3.42 trillion. Legal drama aside, the company has staged nothing short of a remarkable performance this year. From Zero to Web3 Pro: Your 90-Day Career Launch Plan
Digital assets manager CoinShares says institutional investors poured hundreds of millions into crypto investment vehicles last week in spite of market-wide sell pressure. In its latest Digital Asset Fund Flows report , CoinShares says that last week, institutional crypto investment products saw net inflows of $308 million. “Digital asset investment products saw a continuation of inflows last week totaling US$308m, although this masks the largest single day of outflows on the 19th December totaling US$576m, with total outflows in the final 2 days of last week at US$1bn.” Source: CoinShares According to CoinShares, last week’s hawkish Federal Open Market Committee (FOMC) release resulted in a $17.7 billion loss in assets under management (AuM) by crypto exchange-traded products (ETPs). “While these outflows may sound alarming, they comprise just 0.37% of total AuM, ranking as the 13th largest single-day outflow on record. The largest single-day outflow took place in mid-2022, when the FOMC interest rate hike prompted US$540m outflows (2.3% of AuM.)” Bitcoin ( BTC ), per usual, led the way with $375 million in inflows. While Ethereum ( ETH ) and XRP products enjoyed $51.3 million and $8.8 million in inflows each, multi-asset investment products, those investing in a basket of cryptos instead of just one, saw a significant uptick in outflows. “The most dramatic flows were from multi-asset investment products, which saw US$121m of outflows last week.” Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post Institutional Crypto Products Continue Inflow Hot Streak Despite Market Sell-Off: CoinShares appeared first on The Daily Hodl .
The Santa Claus Rally faces uncertainty as Bitcoin dips to $94,955. Strong trading volumes and mixed on-chain signals suggest a pivotal week ahead.
Japan-based early-stage investment firm Metaplanet continues its Bitcoin (BTC) buying spree. The company announced today that it has purchased 619.7 BTC for $61 million – including fees and other expenses – making it the firm’s largest Bitcoin acquisition to date. Metaplanet Increases BTC Holdings To 1,762 The recent crypto market downturn from its all-time highs (ATH) does not appear to bother Metaplanet, as the Tokyo-listed firm made its largest BTC purchase to date, buying 619.7 BTC worth $ 61 million at an average price of around $96,000. Related Reading: Metaplanet To Expand Bitcoin Holdings With $11.3 Million Bond Sale To recall, Metaplanet started buying BTC earlier this year in May with a purchase of 97.9 BTC. Since then, the company has purchased BTC every month, barring September, and crossed the 1,000 BTC milestone in November. The latest acquisition has pushed Metaplanet’s total Bitcoin holdings to 1,762, bought at an average price of $75,600 per BTC. Notably, this $61 million purchase is nearly double the value of Metaplanet’s previous largest acquisition, which occurred in November and was worth close to $30 million. The company’s consistent BTC accumulation has earned it the nickname “Asia’s MicroStrategy,” in reference to the US-based business intelligence firm known for its aggressive Bitcoin buying strategy. It is worth highlighting that today’s BTC purchase comes a week after Metaplanet raised $60.6 million through two tranches of bond issuance for the purpose of “accelerating BTC purchases.” Metaplanet’s latest purchase also makes its BTC reserves the 12th-largest among publicly listed firms globally. According to Metaplanet’s official announcement, its BTC Yield – a proprietary metric used to measure the performance of its Bitcoin acquisition strategy – stood at 310% from October 1 to December 23. The firm emphasized that this strategy is designed to be “accretive to shareholders.” Despite today’s significant BTC purchase, Metaplanet’s stock price saw little movement, closing at $22.5, down 0.98% for the day. However, on a year-to-date basis, the company’s stock has surged by an astounding 1,982%, reflecting the long-term benefits of its Bitcoin-centric strategy. Bitcoin Supply Crunch To Hasten Adoption? With Bitcoin’s total maximum supply capped at 21 million, the digital asset has solidified its reputation as an inflation-resistant store of value. A recent report highlights that BTC supply on crypto exchanges has hit multi-year lows, indicating that holders are increasingly withdrawing BTC from exchanges, reducing circulating supply and potentially driving prices higher. Related Reading: Bitcoin Adoption Grows As Rumble Unveils $20 Million BTC Treasury Strategy Bitcoin’s scarcity has triggered an unofficial race among corporations – and possibly even governments. For instance, Bitcoin mining firm Hut 8 recently purchased 990 BTC for $100 million, increasing its total holdings to over 10,000 BTC. Similarly, MARA, another Bitcoin mining company, acquired 703 BTC earlier this month, bringing its total holdings to 34,794 BTC. Speculations surrounding a potential US strategic Bitcoin reserve are further strengthening BTC’s supply crunch narrative, which may fast-track its adoption. At press time, BTC trades at $94,003, down 1.5% in the past 24 hours. Featured image from Unsplash, charts from Yahoo! Finance and Tradingview.com
Robinhood CEO Vlad Tenev recently addressed the company’s approach to cryptocurrencies, specifically its position on holding Bitcoin. Speaking in an interview with Anthony Pompliano, Tenev revealed that internal discussions about maintaining Bitcoin reserves occur periodically. However, the company currently has no plans to add Bitcoin to its treasury for investment purposes. Robinhood CEO Explains Bitcoin Strategy Amid Crypto Expansion In a recent interview , Robinhood CEO Vlad Tenev explained the company’s position on holding Bitcoin as part of its reserves. While the topic of Bitcoin reserves arises periodically during internal discussions, Robinhood does not intend to follow companies like MicroStrategy or Tesla by holding Bitcoin for investment purposes. Tenev emphasized that Robinhood remains focused on its role as a trading platform and not as an investment manager. According to Vlad Tenev, adding BTC to the company’s treasury could complicate investors’ perceptions, casting Robinhood as a “quasi Bitcoin-holding play.” Despite Robinhood CEO statements about not holding Bitcoin for investment purposes, institutional BTC adoption continues to gain momentum. Recently, Matador Technologies announced plans to purchase $4.5 million worth of Bitcoin this month as part of its strategy. The company’s leadership highlighted Bitcoin’s potential as a store of value amid growing concerns over fiat currency devaluation. Stock Correlation With Bitcoin Price Although Robinhood does not hold Bitcoin, its stock (HOOD) has demonstrated a close correlation with Bitcoin’s price movements. The company’s stock price has surged 202% year-to-date in 2024, compared to Bitcoin’s 110% growth in the same period. Robinhood CEO noted that this correlation exists without the need for Robinhood to hold Bitcoin in its treasury. This reinforces the company’s current strategy of providing crypto trading services rather than direct Bitcoin investment. Moreover, Robinhood’s crypto-related revenues are projected to grow by 20% by the end of 2025, according to Bernstein analysts. Cryptocurrencies are expected to account for 38% of the platform’s total revenues, driven by growing user interest and favorable market conditions under Donald Trump’s presidency. More so, the company’s planned acquisition of top crypto exchange Bitstamp is set to close in early 2025. This move will boost Robinhood’s crypto offerings and position the platform as a stronger competitor to exchanges offering more crypto options. Robinhood has traditionally taken a conservative approach to its crypto services. It provides fewer digital assets and trading options compared to its competitors. However, analysts predict that this strategy may evolve as the company integrates Bitstamp and explores new opportunities during the current market cycle. Most recently, Robinhood CEO Vlad Tenev commented on Bitcoin’s rally , highlighting its evolution from being dismissed to a serious financial asset. Speaking on CNBC, Tenev attributed the surge to institutional adoption and Federal Reserve Chair Powell’s comparison of Bitcoin to gold. He also expressed optimism about Paul Atkins’ nomination as SEC Chair. The post Robinhood CEO Vlad Tenev Discusses Bitcoin Strategy and Crypto Focus appeared first on CoinGape .
Corporate Bitcoin investor MicroStrategy continued its aggressive Bitcoin buying spree last week, in line with founder Michael Saylor’s pledge to keep accumulating the cryptocurrency at peak prices. Between December 16 and 22, MicroStrategy acquired 5,262 BTC, investing approximately $561 million, the company announced on December 23. The firm purchased Bitcoin at an average price of roughly $106,662 per BTC, marking the highest cost it has ever paid for the cryptocurrency. As of December 22, 2024, MicroStrategy and its subsidiaries held a total of 444,262 BTC, acquired for a cumulative $27.7 billion at an average price of $62,257 per BTC. The latest purchase is part of a December buying spree, during which the company accumulated 42,162 BTC now valued at $4 billion. However, the latest acquisition accounts for only about 12% of the company’s total December purchases and represents the smallest amount of BTC bought since mid-2024, when it acquired 169 BTC. MicroStrategy’s latest Bitcoin purchase is 191% smaller than the acquisition announced on December 16 and 309% smaller than the one disclosed on December 9. The slowdown in BTC buying coincides with concerns raised by BitMEX co-founder Arthur Hayes about a potential market drop tied to the inauguration of U.S. President-elect Donald Trump. Hayes’ fund, Maelstrom, plans to clear some positions and re-enter the market later at lower prices. Additionally, rumors suggest MicroStrategy may enter a blackout period in January 2025, halting its issuance of shares and convertible bonds to fund further Bitcoin purchases. Despite market uncertainties, Saylor remains committed to Bitcoin. “I’m sure that I will be buying Bitcoin at $1 million a coin — probably $1 billion dollars a day of Bitcoin at $1 million a coin,” Saylor said in early December.
Federal prosecutors say an employee at Oklahoma-based BOK Financial Securities drained millions of dollars directly from customers’ accounts. William Shane Garrow – who was senior vice president and a private banker at BOK until being fired early this year – is accused of embezzling $4,277,227 from at least 16 customer accounts and funneling the funds to himself, FOX23 reports . Garrow, who was hired in 2007, allegedly began committing the crimes on September 9, 2012, and continued all the way to April 10, 2024. He’s accused of draining cash from customer accounts without them knowing and transferring the funds to accounts that he controlled at other financial institutions. He’s also alleged to have written false cashier checks from client accounts and made them payable to himself. If a client noticed discrepancies, Garrow simply told them there was some sort of error, and that BOK would correct it. Says an affidavit seen by FOX23, “[Garrow] knowingly executed, and attempted to execute, a scheme…to defraud a financial institution, and to obtain any of the moneys, funds, credits, assets, and other property owned by…a financial institution.” Garrow is facing one count of bank fraud along with a separate count of willfully making and subscribing a false federal income tax return. In a statement to the media, BOK said it is cooperating with law enforcement. “Shane Garrow’s employment was terminated earlier this year upon the discovery that he had breached company policy. We have conducted a thorough internal investigation and worked with law enforcement on their investigation. Client impact was isolated and remediated upon discovery.” Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Bank Executive Allegedly Drains $4,277,227 From Customers’ Accounts in 11-Year Scheme: Report appeared first on The Daily Hodl .