Matador Technologies plans a $4.5 million Bitcoin acquisition. The company aims to reduce risks linked to the Canadian dollar. Continue Reading: Matador Technologies Plans to Acquire $4.5 Million in Bitcoin The post Matador Technologies Plans to Acquire $4.5 Million in Bitcoin appeared first on COINTURK NEWS .
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
The South Korean Financial Services Commission (FSC) has denied reports claiming it is about to let companies buy crypto using their balance sheets . Per Hanguk Kyungjae , the FSC told media representatives the reports were “not true.” Will Regulator Let South Korean Companies Buy Crypto? Reports circulated at the start of the month claiming that the FSC was prepared to allow universities and schools to trade donations made in crypto for fiat. This, the reports claimed, would represent the first step on a roadmap. This same roadmap would eventually allow South Korean firms to buy coins like Bitcoin (BTC) and Ethereum (ETH) , they added. [Press Release] The Financial Services Commission held a meeting to review business financing conditions and response strategies with officials from policy financial institutions and related businesses on December 19. https://t.co/QtSVRIB88h — Financial Services Commission – FSC Korea (@FSC_Korea) December 19, 2024 The reports also claimed that the FSC would let “ordinary” firms buy crypto before the banking sector. “We are still discussing whether we will allow corporations [to buy and sell crypto]. The reports are not true. The Financial Services Commission’s Virtual Assets Division has not confirmed anything about this matter.” South Korean Financial Services Commission spokesperson South Korean law does not explicitly prevent firms from holding crypto. However, to trade BTC, ETH, and altcoins, private individuals need to open crypto exchange -linked bank accounts. The regulator’s guidelines instruct financial institutions to reject all such applications from corporate clients. South Korea aims to issue its first won-denominated foreign-exchange stabilization debt in more than two decades next month, according to a finance ministry official with direct knowledge of the plan https://t.co/Wu0tz7iRD3 — Bloomberg Markets (@markets) December 23, 2024 Bitcoin ETF Approval Facing Further Delay? The earlier reports claimed that government ministries, local government organs, universities, and charities would be allowed to sell off any crypto they hold “in the first half of 2025.” Some South Korean companies are furious. They claim they have been left behind by their international rivals in the US and Japan. American firms like MicroStrategy and Japanese companies like Remixpoint have built up considerable Bitcoin reserves in recent years. However, the FSC has refused to allow South Korean companies to do likewise. It has claimed that further discussion is required beforehand. The same FSC spokesperson also denied reports that the regulator had scheduled a timeframe for approving crypto spot exchange-traded funds (ETFs). The official also said these reports were “completely groundless,” adding: “We have not discussed the timing of the launch of virtual asset ETFs.” Crypto hackers from North Korea stole $1.3 billion in funds in 2024, new data released this week from Chainalysis shows. #NorthKorea #CryptoHackers https://t.co/TQYgKiaQ22 — Cryptonews.com (@cryptonews) December 20, 2024 ‘Huge Demand’ Other media outlets, citing anonymous sources, have claimed the FSC is still consulting with “ministries, organizations, and private experts” before deciding on new crypto regulations. They believe the FSC is hesitant about allowing companies to buy and hold crypto. They think regulators are concerned that approval would drive up the already high demand for crypto exchange and crypto custody services. Earlier this month, Kim Seo-jun, the CEO of the blockchain accelerator Hashed, spoke of “a huge institutional demand for Bitcoin ETFs” in South Korea and beyond. The post S Korean Regulator Denies Reports Claiming It Is About to Let Companies Buy Crypto appeared first on Cryptonews .
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
Hyperliquid (HYPE), a decentralized perpetual exchange (DEX) operating on its own Layer 1 blockchain, is currently grappling with significant security concerns after observing abnormal trading activities linked to North Korean hacker groups . Several addresses marked as North Korean hacker have been trading on Hyperliquid, with a total loss of more than $700,000, as first highlighted by @tayvano_, a crypto threat tracker known for his expertise in identifying risks related to North Korean cyber activities. According to @tayvano_, the nature of these transactions suggests that they may be tests of Hyperliquid’s security systems rather than mere financial activity. He expressed his concerns through a post on X. “DPRK’s trading career is…uh….going….. tbh if I was the dude managing Hyperliquid’s 4 validators (or those fucking ghetto ass binaries on gh) I would be shitting my pants right now. Hyperliquid dudes don’t seem worried at all though so I’m sure its fine. DPRK doesn’t trade. DPRK tests,” he explained. Further underscoring the urgency of the situation, @tayvano_ followed up with a strong statement about the necessity for immediate action by Hyperliquid to enhance its defenses. “My offer from 2 weeks ago still stands Hyperliquid. I’m still happy to do it async or via a call. I can even give you one of my super nice happy colleagues if you don’t like me. But a massive amount of harm will come to people if you don’t harden your ass asap,” he warned. Hyperliquid Faces Some Serious Risks Prithvir Jhaveri, founder and CEO of Loch, a personalized crypto portfolio analytics and intelligence platform, provided an assessment of the challenges which Hyperliquid is facing via X. Jhaveri detailed the operational security risks, highlighting the exposure due to the platform’s reliance on a minimal number of validators. “Wallet addresses well-known to be from the North Korean hacker group Lazarus have been testing Hyperliquid. Typically, these addresses perform tests with live funds before coordinating a hack. Their preferred method of approach is phishing. HL has only 4 validators, all running the same code,” Jhaveri reported. He also elaborated on the regulatory challenges that Hyperliquid might face. He discussed the potential for violations of US Office of Foreign Assets Control (OFAC) sanctions and Securities and Exchange Commission (SEC) regulations due to the platform’s interaction with entities from a sanctioned country and its operation as an unregistered broker , respectively. They’re operating financial software that is being used by an OFAC-sanctioned country (DPRK). They can argue that their software is open source and non-custodial, but we’ll have to wait and watch. Moving from 4 validators to 16 could help their case,” he explained about OFAC risks. About the SEC risks, he added: “The SEC could go after HL for operating as an unregistered broker. The good thing for HL is that the next administration’s SEC and Congress are positioned to be pro-crypto and freedom. The issue, however, is that the sponsors for this crypto lobby are directly competitive to HL. HL didn’t take any VC funding. They’re up against the big money that is economically incentivized to protect the interests of the current CEXs (Coinbase and Kraken) and L1s (Ethereum and Solana).” The concentration of market-making activities within Hyperliquid’s own liquidity provider (HLP) is another concern Jhaveri raised, pointing out the risks associated with a centralized approach to liquidity. He warned that any significant exploit could lead to substantial financial loss for customers: “The HyperLiquid Liquidity Provider (HLP) is by far the largest MM by volume […] One bug or exploit and customer funds could vanish quickly.” In conclusion, Jhaveri summarized the strategic position of Hyperliquid amid these challenges. “The HL team has built an incredible product. Trading perps on Hyperliquid is unparalleled in UX. However, the risks they face are not nothing. If they can overcome these, Valhalla is not far away […], but I’m struggling to see the risk-adjusted upside in bidding right now.” he concluded. At press time, HYPE traded at $28.