A new study out of the University of Georgia finds that social media users are more likely to invest in crypto. The study, published in the International Journal of Bank Marketing, aimed to “investigate the associations between social media usage and cryptocurrency investment behavior.” “Cryptocurrencies have gained popularity among investors despite their high risk and volatility. Social media wields substantial influence over investors’ attitudes, judgments and decisions related to investment.” The study, conducted by researchers Kyoung Tae Kim and Lu Fan, claims to be one of the first of its kind. “This study is one of the initial attempts to examine the role of social media platforms in cryptocurrency investment. The findings offer unique and important theoretical and practical insights for policymakers, researchers and practitioners, which can benefit consumer well-being.” According to the researchers, the study concluded that social media users are more likely to invest in cryptocurrency. “Investors who used social media for investment information were more likely to invest in cryptocurrencies and consider investing in cryptocurrencies in the future. The likelihood increased with the number of social media platforms used. Different social media platforms exhibited distinct associations with cryptocurrency investment experiences and future considerations.” According to researcher Lu Fan , much of the chatter surrounding cryptocurrency originates from and echoes within social media. “A lot of people talk about cryptocurrency on social media and how popular it has become. There are a lot of celebrities talking about this. People are thinking, ‘Because my friends, families and the celebrities I admire all invest in that, maybe I should too.” Fan also highlights a link between youth, social media use, and crypto investments. “Our study showed that the younger adults are more likely to invest in crypto now, and they’re also the majority users of social media. So, when serving those young adults who usually need to gain more financial literacy through life experience and age, there needs to be some guidance as well.” 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. Featured Image: Shutterstock/noEnde The post University Study Links Social Media Activity to Higher Rates of Crypto Investments appeared first on The Daily Hodl .
Is a U.S. BTC reserve part of Donald Trump presidential inauguration agenda?
Coinbase Prime recently scored an increase in over-the-counter (OTC) trading activity. Based on CryptoQuant’s analysis, the surge suggests an increase in institutional investors utilizing OTC channels to accumulate Bitcoin (BTC). Institutional BTC Preference Triggers OTC Trading From the data provided by analysts at CryptoQuant, the spike in inflows resembles a similar trend seen on December 17. Noteworthy, that was the day that Bitcoin hit its all-time high (ATH) of over $108,000. According to CryptoQuant CEO Ki Young Ju, such a significant surge in inflows on the Coinbase platform usually indicates that multiple OTC trades are occurring. It also reflects institutions’ preferences to accumulate bitcoin through OTC trading. Julio Moreno, the head of research at CryptoQuant, highlighted that the inflows represent the BTC sourced from Coinbase for institutional clients. Furthermore, he noted that OTC flows recently reached $14 billion, equivalent to 142,000 Bitcoin on the American centralized exchange. Growing Institutional Adoption of BTC With Pro-crypto Government Generally, the digital asset landscape has registered some improvements in the months that followed the United States 2024 presidential elections. Republican politician Donald Trump, known for his pro-crypto stance, won the race , uplifting the ecosystem’s spirit. He is finally coming into power by January 20. One of the moves he intends to make today is ousting Gary Gensler, the current United States Securities and Exchange Commission (SEC) Chairman. Former SEC Commissioner Paul Atkins has been nominated to replace him. This move is expected to bring more favorable policies to the crypto industry. Bitcoin price will likely register more rally, to the point of oven hitting a new ATH. BTC Price Performance and Potential At this time, Bitcoin traded at $104,951.39, corresponding with a 5.58% increase within 24 hours. While this is a lofty price level, it is still significantly lower than the coin’s ATH of over $108,000. With several nations, including the US, vying to add the flagship cryptocurrency to their strategic reserve, BTC will likely register more gains. The potential growth in Bitcoin ETF inflows could also contribute to the price rally. The post Coinbase Prime Records Significant Surge in OTC Bitcoin Trading appeared first on TheCoinrise.com .
A portrait of President-elect Donald Trump, created by arranging block data, has been put onto the Bitcoin blockchain by American miner MARA.
Crypto exchange WazirX, the largest crypto exchange in India, has frozen $3 million in USDT from last year’s catastrophic security breach. The crypto exchange’s update follows a joint statement from the U.S., Japan, and South Korea that was published this week. The statement attributed the attacks to the Democratic People’s Republic of Korea (DPRK, or North Korea), including the infamous Lazarus Group. According to the firm, the freezing was the first significant step in a long and intricate recovery procedure that involved numerous jurisdictions and court cases. WazirX initiates recovery efforts after losing $230 million WazirX’s July 2024 resulted in the loss of nearly 45% of the platform’s total cryptocurrency assets, or more than $230 million. The firm’s hack ranks third among the largest crypto hacks and exploits recorded in 2024, following PlayDapp’s $290 million and DMM Bitcoin’s $308 million in losses. The attack that wiped out most of the platform’s assets left WazirX with more than $546.5 million in liabilities. Multiple layers of security, including six signatories and whitelisted destination addresses, protected the compromised wallet, which relied on Liminal’s digital asset custody infrastructure. However, the hackers took advantage of a significant flaw, a difference between the data shown on Liminal’s interface and the real transaction details. The scammers could reverse-engineer the system and take control of the wallet. After the incident, WazirX parted ways with Liminal Custody. In August 2024, the company has since followed up with a restructuring filing with a Singapore court. WazirX, an exchange founded and currently owned by Zettai in Singapore, has been working with lawyers, forensic experts, and the police to try to recover the stolen funds. WazirX vows to resume trading by February 2025 In November 2024, cofounder Nischal Shetty assured users at a town hall meeting that recovery was underway and said trading could reopen in February 2025. Freezing some of the swiped stablecoins presents a breakthrough event to regain confidence and pay off affected users. Earlier U.N. reports estimated that North Korea stole $3 billion in crypto between 2017 and 2023 to fund its sanctioned nuclear weapons programs. Recent data from Chainalysis showed North Korean hackers were responsible for 61% of all cryptocurrency stolen in 2024, totaling $1.34 billion. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
Wyoming Representative Jacob Wasserburger introduced HB0201, the “ State Funds-Investment in Bitcoin Act ,” on Friday, proposing the creation of a strategic Bitcoin reserve. Wyoming took its first bold step toward a strategic bitcoin reserve! Thank you Rep. Wasserburger for introducing legislation to allow permanent funds to diversify into Bitcoin. This forward-thinking approach will benefit our state as we lead the nation in financial innovation! — Senator Cynthia Lummis (@SenLummis) January 17, 2025 Wyoming Senator Cynthia Lummis, one of the first to highlight the proposal, emphasized its potential benefits to the state’s financial strategy. “This forward-thinking approach will benefit our state as we lead the nation in financial innovation,” Lummis remarked . Wyoming’s Strategic Bitcoin Reserve Proposal: Will It Inspire Others? As states explore the potential of integrating Bitcoin into public financial strategies, Wyoming’s latest proposal sets a precedent that could influence others, including Massachusetts. According to Wasserburger, the bill’s sponsor, the proposal aligns with Wyoming’s history of pioneering firsts. “Wyoming has always been a pioneer—from women’s suffrage to the first national park; from the invention of the LLC to the frontier of digital assets.,” Wasserburger said. Source: wyoleg.gov HB0201 authorizes the state treasurer to invest portions of Wyoming’s general fund, permanent Wyoming mineral trust fund, and permanent land fund in Bitcoin, with investments capped at 3% of these funds to balance potential gains with prudent risk management. To address security concerns, the bill requires robust custody solutions for Bitcoin holdings, emphasizing the protection of private keys and adherence to strict security standards. The proposal leverages Wyoming’s comprehensive legislative framework, including the Wyoming Special Purpose Depository Institution (SPDI) model, which has gained widespread recognition in the digital asset space. Since 2018, Wyoming has established itself as a pioneer in Bitcoin-friendly legislation, passing more than two dozen laws supporting digital assets. These initiatives include recognizing Bitcoin as property and providing regulatory clarity for blockchain companies, solidifying the state’s reputation as a hub for digital innovation. Alongside Wyoming, Massachusetts has also proposed a strategic Bitcoin reserve. Source: Bitcoin Magazine / X State Senator Peter Durant, who filed the bill, expressed enthusiasm about advancing legislation that could shape the state’s financial future. Excited to get to work on this legislation! https://t.co/zT6W3JeGZh — State Senator Peter Durant (@senpeterdurant) January 17, 2025 The Economic Case for a Bitcoin Strategic Reserve Bitcoin , often referred to as “digital gold,” has demonstrated substantial appreciation and resilience over the past decade. Its decentralized nature and fixed supply align with principles of fiscal independence and economic stability. As a result, many institutions, companies, and countries have begun incorporating Bitcoin into their investment portfolios. Wasserburger emphasized the urgency of adopting such measures, stating, “We can’t afford to sit on the sidelines while other states move forward with their own Bitcoin reserve bills.” Establishing a Bitcoin reserve could help Wyoming mitigate risks associated with inflation and economic volatility while ensuring long-term financial security for its citizens. The proposal also aligns with Senator Cynthia Lummis’ advocacy for a United States Strategic Bitcoin Reserve. Lummis’ 2024 draft of the Bitcoin Act, which proposed creating a federal Bitcoin reserve to reinforce America’s financial standing, has laid the groundwork for current legislative efforts. Elsewhere, momentum for Bitcoin reserves continues to grow. On January 16, Texas Senator Charles Schwertner filed Senate Bill 778 (SB 778) to establish a strategic Bitcoin reserve. Internationally, the Czech Republic’s central bank is also exploring Bitcoin as a reserve asset , as governments and institutions continue to evaluate the digital asset’s potential. The post Wyoming and Massachusetts Propose Strategic Bitcoin Reserve Legislation appeared first on Cryptonews .
Dogecoin (DOGE) is experiencing renewed interest as analysts predict it has a 60% chance of reaching $1 by the end of January. The cryptocurrency has seen a significant uptick, rising
In a significant move for the cryptocurrency landscape, Coinbase’s CEO, Brian Armstrong, has engaged in discussions with President-elect Donald Trump regarding potential cryptocurrency policy advancements. This initiative not only underscores
Michael Saylor has a plan to boost MicroStrategy’s authorized Class A shares to 10.3 billion, far above its current 330 million. It puts it in the same league as Wall Street tech giants like Amazon and Alphabet. The shareholder vote to approve this proposal is set for January 21, and with Saylor controlling 47% of the voting power, the outcome seems inevitable at this point. If it goes through, Bloomberg reports that MicroStrategy will have more authorized shares than all but four of the largest players in the Nasdaq 100 (Nvidia, Apple, Alphabet, and Amazon). The company has doubled its Bitcoin holdings in less than a year. Now it’s worth over $44 billion, after ten straight weeks of purchases. Saylor’s ambitious bet on Bitcoin Back in October, MicroStrategy announced a $42 billion plan to buy Bitcoin over three years. By using an at-the-market share issuance program and debt sales, the company is reportedly already two-thirds of the way through its $21 billion allotment for stock issuance. While most Wall Street companies would shy away from diluting their shares to this extent, MicroStrategy is leaning in hard. Analysts like Ed Clissold of Ned Davis Research admit this would normally “not be viewed positively” because it dilutes earnings per share and voting rights. But traditional metrics don’t seem to apply to MicroStrategy anymore. Its stock has soared more than 2,500% since it jumped into Bitcoin in 2020, compared to Bitcoin’s own 800% gain. Clearly, the market sees something it likes. But there’s more to the story. Class A shareholders don’t hold much sway here. Most of the company’s voting power lies with Saylor’s Class B shares. This lopsided power dynamic means Saylor can keep steering the company without much pushback. Why investors aren’t pushing back MicroStrategy isn’t facing backlash from shareholders over this plan. Instead, it has become a darling of Wall Street. Hedge funds have jumped in, buying up its fixed-income securities for convertible arbitrage strategies. This demand has allowed the company to issue $6.2 billion in convertibles this year alone, with another $6.5 billion in equity offerings still available under its current plan. But Goldman Sachs analysts believe that MicroStrategy’s appeal as a leveraged Bitcoin play might fade if the company relies too heavily on equity instead of debt. Even Saylor himself has admitted this, calling for “more intelligent leverage” in a December interview with Bloomberg. He added that: “We have $7.2 billion dollars of converts, but $4 billion of them are essentially equity, they’re through the strike price, the call price, and they are trading with a delta of approximately 100%, they are looking like equity.” Meanwhile, he has stayed coy about any direct ties to the incoming administration. When asked if he’s met with Trump, Saylor deflected but admitted he’s spoken with “a lot of people” connected to the administration. He also expressed openness to joining the White House’s crypto advisory council, saying, “If I’m asked to serve, I would probably do so.” A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
Brian Armstrong has reportedly discussed potential policy issues related to cryptocurrencies with US President-elect Donald Trump.