Bitget announced they obtained a Bitcoin Service Provider license from El Salvador’s Central Reserve Bank. The license allows Bitget to facilitate Bitcoin-to-fiat exchanges, Bitcoin (BTC) payments, and custody services in the country. With the BSP license, Bitget can now offer…
Bitget announced they obtained a Bitcoin Service Provider license from El Salvador’s Central Reserve Bank. The license allows Bitget to facilitate Bitcoin-to-fiat exchanges, Bitcoin ( BTC ) payments, and custody services in the country. With the BSP license, Bitget can now offer Bitcoin-focused services such as buying, selling, storing, and transferring BTC. This milestone is part of Bitget’s broader strategy to strengthen its regulatory standing and expand globally. The company is also pursuing a Digital Assets Service Provider license from El Salvador’s National Commission of Digital Assets. This additional license would enable Bitget to offer services for other cryptocurrencies beyond Bitcoin in El Salvador . El Salvador has emerged as a global hub for cryptocurrency adoption since declaring Bitcoin a legal tender in 2021. The country’s pro-Bitcoin policies provide an entry point for companies like Bitget to expand in Latin America, a region where crypto is being used for remittances, financial inclusion, and as a hedge against volatile fiat currencies. You might also like: Here’s why Ondo Finance crypto could soar 26% soon Bitget’s recent moves Bitget has also obtained Virtual Asset Service Provider licenses in Poland and Lithuania, facilitating its operations in European markets. The exchange recently re-entered the UK market through a partnership with Archax to comply with the Financial Conduct Authority’s promotional guidelines. To enhance its presence in Latin America, Bitget plans to establish a dedicated team in El Salvador. This initiative aims to improve service delivery and foster stronger relationships with local users. You might also like: UK to ban public crypto offers in incisive new regulatory climate
On December 16, market analysis revealed a positive trend among **Bitcoin**-related **US stocks**, with several key players experiencing notable gains. **Coinbase** (COIN.O) saw a substantial increase of nearly **4%**, reflecting
While Bitcoin surges, Dogecoin falters, leading to questions about its future and ATH prospects.
There’s potential for a 2024 Santa Claus rally across the crypto markets. Historical trends, market factors and this year’s bull run could lead to significant gains.
Has correction of Bitcoin (BTC), Ethereum (ETH) and XRP started yet?
Bitcoin’s price held steady at a dazzling $105,080 on Monday, Dec. 16, 2024, with a daily trading volume of $90.85 billion and a market cap hitting $2.05 trillion, while the leading crypto asset by market cap danced between $102,593 and $106,533 throughout the last day. Bitcoin Bitcoin keeps riding the wave of a grand bullish
According to a recent report by Bitfinex, Bitcoin has experienced a significant resurgence since its bear market low of $15,487 recorded in November 2022, soaring over 573% as of December
Bitcoin rallied nearly 5% on Dec. 15, reaching a new all-time high of $106,554, fueled by speculation that it may become a U.S. reserve asset. Data from TradingView shows Bitcoin surpassed its previous high of $104,000, set on Dec. 5, before retracing slightly. CK Zheng, chief investment officer of ZK Square, attributed the surge to a “Santa Claus mode,” as investors fear missing out and increase their capital allocation to Bitcoin. Zheng predicted Bitcoin could hit $125,000 by early 2025 but cautioned about a potential 30% correction as much of the bullish sentiment tied to the incoming Trump administration has already been “priced in.” Such a correction from $125,000 would bring Bitcoin down to approximately $87,500. Trump Administration Speculation Fuels Rally The rally follows comments from Strike CEO Jack Mallers, who suggested President-Elect Donald Trump might issue an executive order on Jan. 20, designating Bitcoin as a reserve asset. “There’s potential to use a day-one executive order to purchase Bitcoin,” Mallers said, though he clarified, “It wouldn’t be the size and scale of 1 million coins, but it would be a significant position.” Meanwhile, Dennis Porter, CEO of the Satoshi Action Fund, revealed that a third Bitcoin reserve bill is in progress at the state level, joining similar measures in Texas and Pennsylvania. “We’re going to see more and more of these bills come. At least 10, in my opinion,” Porter said during a Dec. 15 X Spaces discussion. Additional Catalysts for Bitcoin’s Surge Financial analysts are also anticipating a 0.25% interest rate cut by the U.S. Federal Reserve on Dec. 18, which could further boost Bitcoin. Additionally, a new Financial Accounting Standards Board rule taking effect after Dec. 15 allows institutions to more accurately report the value of their crypto assets, potentially attracting more institutional investors. The Crypto Fear and Greed Index currently ranks market sentiment in the “Extreme Greed” zone at 83 out of 100.
Bitcoin (BTC) started the new week strongly, reaching a new ATH by surpassing $106,000. While there was a subsequent pullback in the BTC price, whales continue to buy altcoins. According to Lookonchain's post, a giant whale purchased Chainlink (LINK) and Ethereum (ETH). Accordingly, a whale with $134 million worth of altcoins purchased 429,999 LINK worth $12.55 million and 1,600 ETH worth $6.3 million from exchanges in the last 48 hours. Apart from this whale, another whale also withdrew 4.58M ACT worth $2.46 million and 753,472 WIF worth $2.17 million from Binance. This whale also purchased other altcoins. Accordingly, the whale purchased 3.22 million JTOs worth $12.3 million on November 23, making an unrealized profit of $805 thousand. On March 3, the whale purchased 543,098 HNT worth $5 million, making an unrealized profit of $223,000. On November 30, it purchased 18.83 million GIGAs worth $1.3 million, making an unrealized profit of $304 thousand. He purchased 1.4 million SPX shares worth $1.1 million on November 29 and November 30, making $105,000 in unrealized profits. Finally, the whale purchased 1.97 million WORMs worth $74,000 on November 20 but lost $67,000. A whale withdrew 4.58M $ACT ($2.46M) and 753,472 $WIF ($2.17M) from #Binance 30 minutes ago. This whale also: Bought 3.22M $JTO ($12.3M) on Nov 23, with an unrealized profit of $805K; Bought 543,098 $HNT ($5M) on Mar 3, with an unrealized profit of $223K; Bought 18.83M $GIGA ($1.3M)… pic.twitter.com/XBc5iBZ9OJ — Lookonchain (@lookonchain) December 16, 2024 *This is not investment advice. Continue Reading: Giant Whales Are Making a Splash with Their Altcoin Purchases! Here Are the Altcoins They Poured Millions of Dollars Into!