Bitcoin (BTC) started the new week with a new record. At this point, the BTC price rose above $ 106,000, while CoinShares published its weekly cryptocurrency report and said that a record inflow of $ 3.2 billion was experienced last week. “Cryptocurrency investment products saw inflows of $3.2 billion last week, the 10th consecutive week of such inflows. Inflows so far this year have reached a staggering $44.5 billion.” Ethereum and XRP Remain the Focus! When looking at individual crypto funds, it was seen that the majority of inflows were in Bitcoin. While BTC saw an inflow of $2 billion, Ethereum (ETH) saw an inflow of $1.08 billion. When we look at other altcoins, XRP experienced an inflow of $145 million, Litecoin (LTC) $2.2 million, Polkadot (DOT) $2.2 million, Cardano (ADA) $1.9 million, and Solana (SOL) $1.7 million. “Bitcoin saw total inflows of $2 billion, bringing total inflows since the US election to $11.5 billion. Short Bitcoin products saw an inflow of $14.6 million after the recent price increases. Ethereum saw $1 billion inflows in the 7th week, bringing the total inflow to $3.7 billion in these 7 weeks. This indicates a significant improvement in sentiment. “XRP saw $145 million inflows as hopes for a US-listed ETF grew, while Polkadot and Litecoin saw inflows of $3.7 million and $2.2 million respectively.” When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an inflow of 3.13 billion dollars. After the US, Switzerland and Germany also saw notable inflows with $35.6 million and $32.9 million respectively. In the face of these inflows, Sweden experienced a small outflow of $19 million. *This is not investment advice. Continue Reading: Institutional Investors Increase Altcoin Purchases as Bitcoin (BTC) Sets New Records! “Ethereum, XRP and These Four Altcoins Are at the Forefront!”
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Over the years, JPMorgan (NYSE: JPM ) CEO Jamie Dimon has maintained a dismissive stance regarding Bitcoin’s ( BTC ) potential, with his concerns mostly centered on the asset’s ability to be leveraged in illicit activities. At the same time, Dimon has questioned Bitcoin’s actual value in the financial landscape. Despite his view on the maiden cryptocurrency, BTC has forged ahead, hitting new record highs. One of Dimon’s notable objections emerged on January 17, 2024, when he famously labeled Bitcoin a ‘pet rock,’ claiming that the digital currency ‘does nothing’ while vowing not to speak about it again. However, he broke this promise days later. To his credit, Dimon sees value in blockchain technology, especially for facilitating payments. “This is the last time I’ve ever talked about this [Bitcoin]. Blockchain is real. It’s a technology. We use it, it’s going to move money. There are cryptocurrencies that do something that might have value. And then there’s one that does nothing, I call it pet rock. The Bitcoin, or something like that,” said Dimon. Investing $1,000 in Bitcoin after ‘pet rock’ comments When the executive made these remarks, Bitcoin was trading at $43,132. Since then, BTC has surged 141% to trade at $104,038 as of December 16. BTC YTD price chart. Source: Finbold Therefore, an investment of $1,000 back in January would have grown to $2,410, representing a gain of $1,410, more than doubling your money. Indeed, Bitcoin has had a rollercoaster during this period, culminating in a record high of over $106,000 on December 16. This surge was buoyed by post-election optimism following Donald Trump’s victory. The price momentum has been fueled by projected friendly crypto regulations under the Trump administration, with recent gains stemming from speculation about the possible rollout of a strategic Bitcoin reserve in the United States. When Dimon made his remarks, the Securities and Exchange Commission ( SEC ) approved the first spot Bitcoin exchange-traded fund ( ETF ), contributing to Bitcoin’s first all-time high of the year, above $73,000. What next for Bitcoin As of press time, Bitcoin was trading at $104,038, having retracted from its record high of $106,000 earlier in the day. The short-term correction emerged amid skepticism regarding the impact of the upcoming Federal Reserve interest rate decision. There is anticipation that the institution will lower rates by 25 basis points, translating to a total easing of 100 basis points since September. However, markets have reacted with skepticism as concerns linger that after this rate cut, the Fed’s stance could potentially diminish hopes for further reductions and limit the bullish impact of the rate cut. Nevertheless, most market sentiment remains bullish on Bitcoin’s long-term outlook. Several entities project that the asset will likely double its valuation by 2025. As reported by Finbold, banking giant Standard Chartered projects that institutional capital inflows will push Bitcoin to $200,000 by the end of 2025, elevating its market cap to almost $4 trillion. Finally, in a December 13 note, investment management firm VanEck forecasted that the current bull market would likely extend into the first half of 2025, with Bitcoin potentially hitting $180,000. Featured image via Shutterstock The post How much you’d have if you invested $1,000 in Bitcoin when JPMorgan CEO called BTC ‘pet rock’ appeared first on Finbold .
MicroStrategy Purchases 15,350 Bitcoins for $1.5 Billion in Cash at an Average Price of $100,386 per Bitcoin in December 2024 ————— 💰Coin: Bitcoin ( $BTC ) $103,979.00 ————— NFA.
Fartcoin is up 22% in 24-hour trading and a whopping 164% on the week, leading to surge in interest among retail traders as Bitcoin hits a new ATH. According to data from Coingecko, Fartcoin (FARTCOIN) is currently trading at $0.78…
Fartcoin is up 22% in 24-hour trading and a whopping 164% on the week, leading to surge in interest among retail traders as Bitcoin hits a new ATH. Fartcoin price on Dec. 16, courtesy Coingecko. According to data from Coingecko, Fartcoin (FARTCOIN ) is currently trading at $0.78 and is up nearly 22% in 24 hour trading. Fartcoin is a cryptocurrency that combines internet culture with cryptocurrency, focusing on humor rather than traditional financial utility. It allows users to engage in activities like submitting fart-themed memes or jokes to earn tokens. A unique feature includes a “Gas Fee” system where each transaction triggers a digital fart sound, enhancing the meme-based experience. The coin also uses an AI framework called “Terminal of Truth” to generate creative content and engage its community. In contrast, the meme coin Goatseus Maximus ( GOAT ) is down 12.8% in 24 hour trading, with its market cap sinking below the $700 million threshold for the first time since November 2024. Goatseus Maximus price on Dec. 16, courtesy Coingecko. Both Fartcoin and Goat derive from internet meme culture, tapping into the humor and virality that memes can bring to the crypto space. Fartcoin, as the name suggests, likely plays on the juvenile humor of bodily functions, while GOAT is inspired by the infamous Goatse meme, albeit in a more abstract, AI-driven context. You might also like: Crypto scammers hijack Truth Terminal founder’s X account The promotion or creation of both tokens has been influenced by AI. GOAT was significantly promoted by an AI chatbot named Truth Terminal , which has become a quirky influencer in its own right. Similarly, posts on X suggest that AI bots or algorithms might be playing a role in the trading patterns of Fartcoin, although specifics on this are less clear. Other top meme coins by market cap include Doge ( DOGE ), Shiba Inu ( SHIB ) and Pepe ( PEPE ), with many of them riding the wave of Bitcoin’s surge, which hit a new ATH on Dec. 16 of $106,382. Read more: Canadian rapper Drake’s X account hacked to promote fake meme coin
MicroStrategy’s recent Bitcoin acquisition underscores the strategic pivot of corporate entities towards cryptocurrency as a long-term asset. This latest buy marks a significant escalation in MicroStrategy’s Bitcoin holdings as it
MicroStrategy expands Bitcoin holdings to 439,000 BTC through a recent purchase. The company's total Bitcoin investment now stands at $27.1 billion. Continue Reading: MicroStrategy Continues to Increase Its Bitcoin Holdings The post MicroStrategy Continues to Increase Its Bitcoin Holdings appeared first on COINTURK NEWS .
MicroStrategy has announced another Bitcoin purchase, which they made for $1.5 billion. This comes just days after the software company’s inclusion into the Nasdaq-100, while the purchase marks their sixth in as many weeks. MicroStrategy Acquires 15,350 BTC For $1.5B MicroStrategy revealed in a press release that it has acquired 15,350 BTC for $1.5 billion at an average price of $100,386 per bitcoin and has achieved a BTC yield of 46.4% quarter-to-date (QTD) and 72.4% year-to-date (YTD). The software company now holds 439,000 BTC, which it acquired for $27.1 billion at an average price of $61.725 per bitcoin. The company holds over 2% of Bitcoin’s total supply and is the public company with the largest bitcoin holdings. MicroStrategy has shown no signs of slowing down despite already owning over 2% of the total Bitcoin supply. This recent purchase is their sixth in a six-week period, which began in November. Last week, the software company bought 21,550 BTC for $2.1 billion. The post Breaking: MicroStrategy Acquires 15,350 BTC For $1.5 Billion appeared first on CoinGape .
In just a matter of weeks, Donald Trump is about to be inaugurated as the 47th President of the United States of America. At first glance, after his victory in the November elections, everything appears to be in order in the cryptocurrency industry, but is it? The 2024 US presidential election is widely regarded as a pivotal moment for the crypto industry. Economists believe part of the reason Trump won his ticket back to the Oval Office is because of his “loud” pro-crypto-stance. Well, in all honesty, he had the support of over 290 pro-crypto lawmakers in Congress; it was highly unlikely he would lose. Trump promised to position the United States as the global hub for crypto, so the sector is poised for a potential renaissance. According to Coinfund President Chris Perkins, the election signaled a turning point for the crypto market, which has long grappled with regulatory uncertainty. Contributing to a Financial Times article , Perkins argues that this shift offers the US an opportunity to solidify its leadership in emerging technologies like blockchain, artificial intelligence, and decentralized finance (DeFi). However, he warned the community that optimism hinges on whether the post-election enthusiasm translates into actionable, thoughtful policies. Out with the old, in with the new? Under the Biden administration, crypto faced what many described as “regulation by enforcement,” where agencies stretched decades-old laws to oversee the nascent industry. JUST IN: 🇺🇸 Donald Trump says he will "end Joe Biden's war on crypto, and ensure that the future of crypto and the future of #Bitcoin will be made in America, with a lot of it being done right here in Florida.” pic.twitter.com/qstVuzbOAI — DΛVID (@DavidShares) June 15, 2024 Critics insist that this approach blurred regulatory boundaries, wasted resources, and imposed significant costs on American companies, estimated at over $400 million. Biden, supported by US financial authorities, seemingly failed to prevent high-profile fraud cases. An indelible case is the fall of FTX, a memory the community will probably never forget. Moving forward, policymakers and regulators are being urged to focus on fostering innovation while protecting consumers. An imperative industry demand is the differentiation between technology and its applications, reiterates Perkins. Blockchain and cryptocurrency advocates liken the current situation to the early days of the internet: while websites and apps are not inherently illegal, their misuse can be addressed through law enforcement. Coinfund’s President highlighted a case echoing this approach. In a recent ruling, Judge Katherine Polk Failla rejected attempts to hold a crypto exchange liable for how its technology was used, drawing parallels to payment platforms like Venmo. Unanswered questions about the crypto market under Trump As reported by Cryptopolitan, Cardano co-founder Charles Hoskinson voiced concerns over the lack of a clear roadmap for the crypto industry from Donald Trump. Despite Trump’s more progressive stance on crypto, Hoskinson said that he hasn’t yet outlined concrete policies for the sector’s future in the United States. Hoskinson warned that Trump’s involvement in crypto could create a more complicated regulatory environment, noting the intense partisan divide that surrounds the former president’s actions. “ Everything Trump does the left hates with such a passion ,” Hoskinson said, adding the move could take a bipartisan issue and make it partisan, potentially alienating support for the crypto industry. He also criticized the current political discourse, stating, “ I don’t see that level of quality and sophistication in the discourse. ” The alienated Ethereum co-founder also questioned whether Trump could assemble a team capable of supporting the crypto industry, referencing the former president’s history of high staff turnover. Hoskinson’s skepticism grew after Trump announced a new decentralised finance (DeFi) platform, World Liberty Financial, which he is backing alongside his sons Donald Trump Jr. and Eric Trump, as well as property developer Steve Witkoff. Vitalik Buterin is cautious about Trump Back in July, Ethereum creator Vitalik Buterin weighed in on the trend of supporting political candidates solely based on their crypto stance. In a blog post , Buterin warned against the practice of endorsing “pro-crypto” candidates, arguing that it could create an environment where politicians merely need to support crypto to gain backing without addressing the broader values that drive the industry. “ There is a growing push within the crypto space to become more politically active.” Buterin continued, “In this post, I argue against this trend, and in particular, I argue that making decisions in this way carries a high risk of going against the values that brought you into the crypto space in the first place.” Trump could be good for crypto Donald Trump is one very unpredictable businessman: the very epitome of controversy. On one hand, Democrats are arguing he will use the Oval Office to make the rich wealthier. On the other, Trump says he won’t take a penny of his official salary. His first presidential campaign was pretty much against crypto, but his own son is now telling the world “Dad will be the most pro-crypto president America has ever seen.” Trump’s proposals for the industry include rolling back existing regulations and introducing bold ideas such as creating a national Bitcoin reserve, where the government would stockpile the cryptocurrency. Some analysts are skeptical about Trump’s stance on crypto, arguing that it could be motivated by self-interest. Virginia Canter, chief ethics counsel at the nonpartisan group Citizens for Responsibility and Ethics in Washington, emphasized the significance of how crypto will be regulated in the coming years. “ One of the most important issues to be determined over the next couple years is how crypto is regulated, ” Canter said. “ Well, now, he’s an active player in the crypto market. How it could be regulated [could] affect his personal wealth, what kind of position he takes. “ JUST IN: Donald Trump has $5,417,000 invested in these 6 cryptocurrencies: pic.twitter.com/loggTKZPFR — Andrew Lokenauth | TheFinanceNewsletter.com (@FluentInFinance) November 25, 2024 Nik Bhatia, founder of Bitcoin Layer, a firm that advocates for Bitcoin investments, suggested that dismissing Trump’s pro-crypto position as merely driven by personal gain overlooks its political dimensions. “ I don’t see these moves motivated by self-interest. I see them representing the electorate, ” Bhatia stated. Nevertheless, Bhatia acknowledged a potential conflict of interest, noting that Trump’s support for crypto could directly benefit his business ventures. “ I think there probably is a conflict of interest in that his pro-crypto stance will benefit his company, ” he added. Moreover, Robinhood CEO Vlad Tenev told CNBC that the US SEC’s “regulation by enforcement” approach under Chairman Gary Gensler has pushed much of the crypto innovation abroad. Tenev suggested that a Trump administration could usher in a more “forward-looking policy,” supported by his new SEC chairman appointee Paul Atkins, who the community expects will embrace crypto. One thing we all know is Trump wants to do what’s best for America. If crypto aligns with that sentiment, then it shouldn’t be a surprise if the president-elect keeps his promises. From Zero to Web3 Pro: Your 90-Day Career Launch Plan