With bitcoin climbing 14.6% over the past 30 days, miners are raking in higher earnings. The going rate for 1 petahash per second (PH/s) of hashpower now floats around $60.49, padding profits for some of the top application-specific integrated circuit (ASIC) rigs available. Here’s a look at the leading machines of the moment and how
BitcoinWorld Aave DAO’s Pivotal Move: Centralized Aave on Kraken Ink Sparks Crucial Debate In a development that has sent ripples across the decentralized finance (DeFi) landscape, the Aave DAO , the governing body behind one of the largest DeFi lending protocols, has unveiled a groundbreaking proposal. This initiative suggests a strategic foray into a more centralized domain, specifically planning a launch on Kraken’s Ink network. This move, as cited by DL News from a DAO proposal published on July 17, represents a significant departure from Aave’s traditionally decentralized ethos and has ignited a crucial debate within the crypto community. What’s Driving Aave DAO’s Bold Foray onto Kraken Ink? The core of this ambitious proposal involves deploying a licensed, centralized version of the Aave codebase onto Kraken’s layer-2 Ink blockchain. This isn’t just a simple port; it’s a strategic decision to create a distinct, managed platform. The new entity will operate under a different name, managed directly by the Ink Foundation, with a portion of the generated revenue flowing back to the Aave DAO . This arrangement signals a willingness to explore hybrid models that bridge the gap between the wild west of DeFi and the regulated world of traditional finance. Several factors could be motivating this bold strategic shift: Regulatory Clarity: The DeFi space has long grappled with regulatory uncertainty. By operating on a centralized, licensed platform like Kraken Ink, Aave could potentially achieve greater regulatory compliance, making its services more palatable to institutional investors and traditional financial entities. Institutional Adoption: Traditional finance (TradFi) institutions often shy away from the perceived risks and lack of oversight in pure DeFi. A centralized version, backed by a reputable exchange like Kraken, could open doors to a vast pool of institutional capital, bringing new liquidity and users to the Aave ecosystem. User Experience: While DeFi offers unparalleled freedom, it often comes with a steep learning curve and complex user interfaces. A centralized platform on Kraken Ink could offer a more streamlined, user-friendly experience, potentially attracting a broader, less crypto-native audience. Revenue Diversification: The proposed revenue share arrangement provides a new, potentially stable income stream for the Aave DAO, diversifying its financial base beyond just protocol fees from the decentralized Aave. Navigating the Centralized Aave Frontier: Benefits and Potential Pitfalls The concept of a centralized Aave is inherently paradoxical for many in the DeFi community. However, understanding both the upsides and the potential downsides is crucial for appreciating the full scope of this proposal. The Strategic Benefits: This move could unlock significant growth avenues: Expanded Market Reach: By operating within a regulated framework on a reputable platform like Kraken, Aave could tap into a much larger user base, including institutional players and retail users who prefer regulated environments. Enhanced Security & Compliance: Centralized platforms typically offer more robust security measures and adhere to stringent KYC/AML (Know Your Customer/Anti-Money Laundering) regulations, which can build trust and reduce certain types of financial risk. Innovation & Experimentation: The Ink network could serve as a testing ground for new features and products that might be difficult to implement on the main decentralized Aave protocol due to governance complexities or regulatory hurdles. The Inherent Challenges and Concerns: Despite the potential benefits, the proposal faces significant scrutiny: Erosion of Decentralization Ethos: The most prominent concern is the perceived compromise of DeFi’s core principle – decentralization. Aave was built on the promise of censorship resistance and permissionless access, which a centralized version inherently contradicts. Community Backlash: Many within the Aave community are staunch proponents of decentralization. This move could lead to internal dissent and potentially alienate a segment of its loyal user base. Single Points of Failure: Centralized systems are typically more vulnerable to single points of failure, whether due to technical glitches, regulatory pressure, or malicious attacks, compared to distributed decentralized networks. Brand Dilution: There’s a risk that launching a centralized version could dilute the Aave brand, blurring the lines between its core decentralized offering and this new, distinct entity. How Does This Impact the Future of DeFi Lending? The Aave DAO’s proposal could be a bellwether for the broader DeFi lending sector. It suggests a potential shift in strategy for established DeFi protocols, where a hybrid model might become increasingly common. Instead of a strict dichotomy between decentralized and centralized finance, we might see more protocols exploring avenues to bridge the two worlds. This move could: Accelerate Mainstream Adoption: If successful, it could demonstrate a viable path for DeFi technologies to gain widespread acceptance in regulated financial markets, paving the way for other protocols. Redefine ‘DeFi’: The lines between DeFi and TradFi might become increasingly blurred, leading to a new category of ‘CeDeFi’ (Centralized Decentralized Finance) or ‘Hybrid Finance’ solutions that leverage blockchain technology while operating within existing regulatory frameworks. Increase Competition: As more regulated blockchain platforms emerge, the competition for institutional and retail users seeking compliant DeFi-like services will intensify. Exploring the Kraken Ink Blockchain Network: A Strategic Choice Kraken’s choice as the launchpad for this centralized Aave initiative is far from arbitrary. The blockchain network , Ink, developed by Kraken, is a Layer-2 solution designed to offer high throughput, low fees, and potentially enhanced regulatory compliance, making it an attractive environment for a centralized DeFi product. Key aspects of Kraken Ink: Layer-2 Scalability: Built to handle a high volume of transactions efficiently, addressing one of the common challenges faced by many Layer-1 blockchains. Kraken’s Reputation: As one of the oldest and most reputable cryptocurrency exchanges, Kraken brings a significant level of trust, security expertise, and a large existing user base to the table. This reputation is invaluable for a centralized financial product. Focus on Compliance: While details are still emerging, Ink is likely designed with regulatory considerations in mind, which aligns perfectly with Aave’s apparent goal of attracting institutional players. This collaboration highlights a growing trend where established crypto exchanges are not just facilitating trading but are also building their own blockchain infrastructure to support a new generation of financial products. Actionable Insights for Aave Community and Crypto Investors For those invested in or following the Aave ecosystem and the broader crypto market, this proposal demands close attention. Here are some actionable insights: Monitor DAO Governance: Keep a close eye on the Aave DAO’s voting process. The outcome will significantly impact Aave’s future trajectory and its brand perception. Understand the Nuances: Differentiate between the existing decentralized Aave protocol and the proposed centralized version on Ink. They are distinct entities, even if sharing a codebase. Assess Risk & Reward: Evaluate how this move might affect Aave’s tokenomics, user base, and overall market position. Consider the long-term implications for both decentralized and centralized crypto offerings. Diversify Your Portfolio: As the crypto landscape evolves with new hybrid models, it’s prudent to diversify investments across various protocols and platforms that align with your risk tolerance and philosophical stance on decentralization. Conclusion: A Pivotal Moment for Aave and DeFi’s Evolution The Aave DAO proposal to launch a centralized version on Kraken’s Ink network marks a truly pivotal moment, not just for Aave, but for the entire DeFi ecosystem. It’s a bold experiment that challenges the conventional wisdom of decentralization while seeking to unlock new frontiers of growth and adoption. While it presents compelling opportunities for regulatory clarity, institutional engagement, and broader market reach, it also raises fundamental questions about the core tenets of DeFi and the potential for brand identity shifts. The success or failure of this venture will undoubtedly provide valuable lessons, shaping the future trajectory of how decentralized protocols interact with centralized entities and traditional finance. It underscores the dynamic and ever-evolving nature of the blockchain space, where innovation often pushes the boundaries of established paradigms, leading to crucial debates and new possibilities. Frequently Asked Questions (FAQs) Q1: What is the Aave DAO proposal regarding Kraken Ink? A: The Aave DAO proposal outlines a plan to license a centralized version of the Aave codebase to operate on Kraken’s Layer-2 Ink blockchain. This new platform would be managed by the Ink Foundation, with a share of its revenue returning to the Aave DAO. Q2: Why is Aave, a DeFi protocol, considering a centralized launch? A: Aave is likely exploring this centralized launch to achieve greater regulatory clarity, attract institutional investors, improve user experience for a broader audience, and diversify revenue streams for the Aave DAO. Q3: What is Kraken Ink and its role in this proposal? A: Kraken Ink is a Layer-2 blockchain network developed by Kraken, designed for scalability and potentially enhanced regulatory compliance. It serves as the infrastructure for the proposed centralized Aave platform, leveraging Kraken’s reputation and technical capabilities. Q4: How will this affect the existing decentralized Aave protocol? A: The proposal describes a separate, distinct platform. The existing decentralized Aave protocol is expected to continue operating independently. However, the success or controversy of the centralized venture could indirectly influence the Aave brand and community perception. Q5: What are the main concerns about this centralized Aave initiative? A: The primary concerns revolve around the potential compromise of Aave’s decentralized ethos, possible community backlash, the introduction of single points of failure inherent in centralized systems, and potential brand dilution. Q6: Is this a trend we can expect from other DeFi protocols? A: The Aave proposal could signal a growing trend where DeFi protocols explore hybrid models to bridge decentralized and centralized finance, aiming for broader adoption and regulatory compliance. Its outcome will likely influence similar decisions by other protocols. If you found this analysis insightful, please consider sharing it with your network! Help us spread awareness about this significant development in the world of decentralized finance. To learn more about the latest DeFi lending trends, explore our article on key developments shaping blockchain network institutional adoption. This post Aave DAO’s Pivotal Move: Centralized Aave on Kraken Ink Sparks Crucial Debate first appeared on BitcoinWorld and is written by Editorial Team
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JPMorgan says regulators outside the US are leaning toward tokenized bank deposits over stablecoins, according to a recent report led by managing director Nikolaos Panigirtzoglou. Bank of England Governor Andrew Baile recently noted that he would rather banks create a tokenized central bank deposit than a new private stablecoin. According to JPMorgan analysts, this is part of a larger breaking wave of regulation worldwide toward tokenized deposits , a more holistic and secure method, the authors claim, of modernizing finance. Tokenized deposit, a digital analogue of a conventional bank deposit, is released within the blockchain executor, and information is reflected in it. They preserve the protections encoded in the existing financial system, such as deposit insurance, compliance with know-your-customer (KYC) and anti-money laundering (AML) rules, and access to central bank emergency funding. On the other hand, tokenized deposits imply that some parts of the benefits of the blockchain are already in place, such as time-to-settlement, visibility, programmability, and the possibility to interact with smart contracts. Authorities endorse non-bearer digital bank money According to JPMorgan analysts, there are two tokenized deposit types: bearer and non-bearer. A bearer tokenised deposit may be transferred and traded among parties. But as with anything else in the market, their value can go down, too, based on the interplay of supply and demand, or the risk of the issuer. This volatility is a menace to financial calm. It violates the central value proposition of “singleness of money” — the belief that all money in circulation within a nation’s borders can safely be exchanged for a stable quantity of goods and services. Non-bearer tokenized deposits, on the contrary, are non-transferable. They facilitate two-bank-to-two-bank, straight-through settlement of transactions, in central bank money, at one-to-one value. According to JPMorgan, the system helps protect the financial system’s integrity and prevents value differentials between the different forms of money. The analysts pointed to a paper, “Stablecoins versus tokenized deposits: implications for the singleness of money,” released in 2023, by economists Rod Garratt and Hyun Song Shin. But more ominously, the paper warns that transferable tokens, whether stablecoins or bearer deposits, “tend towards pricing error.” According to JPMorgan, non-bearer tokenized deposits offer greater certainty and interoperability within the banking sector. Their design ensures that when funds are transferred between banks, they retain their full face value—much like a standard electronic bank transfer—without any reduction or “haircut.” Traders favor stablecoins for liquidity Stablecoins have faced increasing regulatory scrutiny but remain powerful in the crypto economy . With high liquidity and universal availability on all markets, their simple movable nature attracts cryptos, Decentralized Exchange (DEX) traders, and remittances worldwide. Tether (USDT) and USD Coin (USDC) remain the top stablecoins by market cap. They represent hundreds of billions of dollars daily across crypto exchanges, DeFi protocols, and remittance corridors. However, JPMorgan analysts said stablecoins typically don’t take money away from the banking system. Their reserves, which they have lent domestically, typically in short-term government securities such as United States Treasury bills, stay within the traditional finance channels. It’s the money market fund model, in which deposits are collected and invested in low-risk, short-term instruments. The JPMorgan analysts also asked if commercial banks would have cheaper issuance of stablecoins. A 2023 consultation paper from the Bank of England proposed that any bank issuing stablecoins could be held to back them with fully reserved deposits at the central bank, and these deposits might not pay interest. “All of that would put serious constraints on a bank’s ability to price to yield on customer deposits, as a stablecoin would be a very unappetizing business proposition under those rules. In the United States, meanwhile, regulatory sentiment remains friendlier to stablecoins. It will be law shortly after President Donald Trump signs the new GENIUS Act. Under the Act, banks could create stablecoins and incorporate them into the existing payment system. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
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BitcoinWorld Bitcoin’s Astonishing Ascent: BTC Surges Past $118,000 The cryptocurrency world is abuzz with excitement as Bitcoin, the undisputed king of digital assets, has once again defied expectations, breaching the significant $118,000 mark. According to diligent monitoring by Bitcoin World market analytics, BTC soared to $118,012.31 on the Binance USDT market, sending ripples of optimism throughout the entire financial landscape. This remarkable achievement isn’t just a number; it represents a powerful testament to Bitcoin’s enduring strength, growing adoption, and its potential as a global store of value. For investors, enthusiasts, and even skeptics, this latest milestone prompts a crucial question: what exactly is driving this monumental rise, and what does it signify for the future of finance? Understanding the Monumental BTC Surge: What Does $118,000 Mean? When we talk about a BTC surge past such a formidable level, it’s essential to grasp the sheer significance. Reaching $118,000 is not merely an incremental gain; it often indicates a breakthrough past major psychological resistance levels or even, depending on the market cycle, a new all-time high. This specific price point reflects renewed investor confidence and substantial capital inflow. Historically, Bitcoin’s price movements are characterized by periods of consolidation followed by explosive rallies, often fueled by a confluence of factors. This latest move could signal the beginning of another significant leg up in its long-term trajectory. It underscores the increasing mainstream acceptance of cryptocurrencies and their growing integration into traditional financial systems. Consider the journey Bitcoin has taken since its inception. From humble beginnings to now commanding such a high valuation, each milestone, especially a significant one like $118,000, reinforces its position as a leading financial innovation. This price action serves as a powerful indicator of demand outstripping supply, a fundamental economic principle driving value. What’s Fueling This Remarkable Bitcoin Price Rally? The ascent of Bitcoin price to new heights is rarely due to a single cause. Instead, it’s typically a complex interplay of macroeconomic trends, institutional interest, supply dynamics, and evolving market sentiment. Understanding these drivers is crucial for anyone looking to navigate the volatile yet rewarding world of digital assets. Institutional Embrace: The Big Players Are In One of the most significant catalysts behind recent Bitcoin rallies has been the growing embrace from institutional investors and large corporations. Companies like MicroStrategy have famously added substantial amounts of Bitcoin to their balance sheets, viewing it as a superior treasury reserve asset. Furthermore, the approval and success of Bitcoin Exchange-Traded Funds (ETFs) in various jurisdictions have opened the floodgates for traditional investors to gain exposure to Bitcoin without directly holding the asset. These ETFs represent a massive pipeline for capital from pension funds, endowments, and wealth managers, providing a level of legitimacy and accessibility previously unavailable. This institutional demand creates consistent buying pressure, underpinning the rally. Macroeconomic Tailwinds: Inflation and Interest Rates In an era of fluctuating inflation rates and evolving central bank policies, Bitcoin’s narrative as a ‘digital gold’ or a hedge against inflation has gained considerable traction. As traditional currencies face inflationary pressures, investors seek alternative stores of value that are decentralized and supply-capped. Bitcoin, with its fixed supply of 21 million coins, presents an attractive option. Additionally, a dovish stance by central banks, leading to lower interest rates, can make yield-bearing traditional assets less appealing, pushing investors towards higher-growth, risk-on assets like Bitcoin. Supply Dynamics: Halving and Scarcity Bitcoin undergoes a ‘halving’ event approximately every four years, which cuts the reward for mining new blocks by half. This mechanism is hardcoded into Bitcoin’s protocol, ensuring its scarcity. Each halving reduces the rate at which new Bitcoin enters circulation, thereby increasing its inherent scarcity over time. Post-halving periods have historically been followed by significant bull runs, as reduced supply meets growing demand. While the most recent halving might be some time ago, its long-term effects on supply dynamics continue to influence the market’s perception of Bitcoin’s value. Retail Resurgence: The People’s Power While institutional money provides significant buying power, the collective interest of retail investors should not be underestimated. Social media trends, mainstream news coverage, and the ‘fear of missing out’ (FOMO) often drive substantial retail participation. As Bitcoin’s price climbs, it captures headlines, attracting new individual investors who see the potential for significant returns. This grassroots interest, coupled with easy access through various trading platforms, adds another layer of demand to the market. Navigating the Crypto Market: Key Dynamics and Investor Sentiment The current Crypto market landscape is complex, influenced by a myriad of technical indicators, on-chain data, and prevailing sentiment. For those participating or considering entry, understanding these dynamics is paramount. Technical Outlook: Key Levels and Indicators From a technical analysis perspective, breaking past $118,000 is a highly bullish signal. It suggests that previous resistance has now flipped into support, potentially paving the way for further upward movement. Traders often look at key moving averages (e.g., 50-day, 200-day), the Relative Strength Index (RSI), and trading volumes to gauge the strength and sustainability of a rally. High volume accompanying a price surge indicates strong conviction from buyers. Conversely, a lack of volume on a price rise might suggest a weaker rally prone to correction. Table: Key Market Indicators to Watch Indicator What it Tells Us Implication for Bitcoin’s $118K Surge Trading Volume Strength of price movement High volume confirms strong buying interest Relative Strength Index (RSI) Overbought/Oversold conditions Indicates if the rally is sustainable or due for a pullback Moving Averages Trend direction and support/resistance Price above key MAs confirms bullish trend On-Chain Metrics Network activity, whale movements Growing adoption and accumulation by large holders On-Chain Metrics: What the Data Says Beyond traditional charts, on-chain analytics provide deeper insights into Bitcoin’s network health and investor behavior. Metrics such as exchange inflows/outflows, active addresses, and miner accumulation patterns can reveal underlying trends. For instance, decreasing Bitcoin balances on exchanges suggest investors are moving their holdings to cold storage, indicating a long-term holding sentiment rather than an intent to sell. Increased active addresses signal growing network utility and adoption. These data points often provide a more fundamental view of market strength than mere price action. The Volatility Factor: A Double-Edged Sword While the surge past $118,000 is exciting, it’s crucial to remember Bitcoin’s inherent volatility. Sharp price swings, both upwards and downwards, are common. This volatility presents opportunities for significant gains but also carries substantial risks. Investors must be prepared for potential corrections and understand that not every upward move is sustainable in the short term. Prudent risk management and a long-term perspective are essential when dealing with such dynamic assets. Investing in Digital Assets: Opportunities and Challenges Ahead The burgeoning world of Digital assets offers unparalleled opportunities but also presents unique challenges that investors must navigate carefully. The recent Bitcoin rally highlights both sides of this coin. Benefits of Investing in Bitcoin and Digital Assets Diversification: Bitcoin often exhibits low correlation with traditional assets, offering portfolio diversification benefits. Inflation Hedge: Its fixed supply makes it an attractive hedge against currency debasement. Technological Innovation: Investing in Bitcoin is also an investment in the underlying blockchain technology, which is poised to revolutionize various industries. Global Accessibility: Digital assets can be accessed by anyone with an internet connection, fostering financial inclusion. Challenges and Risks Regulatory Uncertainty: The regulatory landscape for cryptocurrencies is still evolving, with potential for new rules that could impact the market. Market Manipulation: The relatively smaller size of the crypto market compared to traditional markets can make it more susceptible to large whale movements or coordinated pumps and dumps. Security Risks: While blockchain technology is secure, individual investors face risks from hacks, phishing scams, and loss of private keys. High Volatility: As mentioned, rapid price swings can lead to significant losses if not managed properly. Actionable Insights for Investors For those considering investing or already holding Bitcoin, a few actionable insights can help navigate the current market. Always conduct your own research (DYOR) before making any investment decisions. Understand your risk tolerance and never invest more than you can afford to lose. Dollar-cost averaging, where you invest a fixed amount regularly regardless of price, can help mitigate volatility. Diversifying your crypto portfolio beyond just Bitcoin, if appropriate for your risk profile, can also be a sound strategy. Staying informed about market news, regulatory developments, and technological advancements is key to long-term success. Expert Market Analysis: What Lies Ahead for Bitcoin? Following this impressive surge, the question on everyone’s mind is: what does the future hold for Bitcoin? Expert Market analysis suggests several potential scenarios, but certainty remains elusive in such a dynamic market. Potential Resistance Levels and Price Targets With Bitcoin crossing $118,000, analysts will be eyeing the next psychological and technical resistance levels. These could be round numbers like $120,000, $125,000, or even higher if the bullish momentum continues. Fibonacci extensions and historical price action are often used to project potential future targets. A strong break and sustained trading above these levels would reinforce the bullish narrative, potentially leading to an accelerated rally. Bullish and Bearish Scenarios Bullish Scenario: Continued institutional adoption, further ETF approvals globally, favorable regulatory clarity, and sustained macroeconomic pressures on fiat currencies could propel Bitcoin to even greater heights. A narrative of Bitcoin becoming a global reserve asset or a widely accepted medium of exchange would solidify its long-term growth potential. Bearish Scenario: Conversely, unexpected regulatory crackdowns in major economies, a significant global economic recession, or a major security breach affecting a prominent exchange could trigger a substantial correction. Any loss of confidence in the underlying technology or a shift in the macroeconomic environment could also dampen enthusiasm. Ultimately, the trajectory of Bitcoin will depend on a delicate balance of these forces. While the current momentum is strong, a cautious and informed approach remains the best strategy for investors. Conclusion: A New Era for Digital Assets Bitcoin’s spectacular rise above $118,000 is more than just a price milestone; it’s a powerful affirmation of its growing stature in the global financial system. This BTC surge is a culmination of increasing institutional interest, favorable macroeconomic conditions, inherent scarcity, and renewed retail enthusiasm. While the path ahead for the Crypto market will undoubtedly involve its share of volatility and challenges, the underlying trends suggest a continued expansion and integration of Digital assets into mainstream finance. For those seeking to understand and participate in this revolution, staying informed and exercising prudence, guided by sound Market analysis , will be paramount. The future of finance is rapidly evolving, and Bitcoin continues to lead the charge, promising an exciting, albeit unpredictable, journey ahead. Frequently Asked Questions (FAQs) 1. What caused Bitcoin’s recent surge past $118,000? The recent surge is attributed to a combination of factors, including increased institutional adoption (like Bitcoin ETFs), macroeconomic conditions such as inflation concerns driving demand for inflation hedges, Bitcoin’s inherent scarcity due to its halving mechanism, and renewed interest from retail investors. 2. Is $118,000 an all-time high for Bitcoin? While Bitcoin has seen significant rallies, whether $118,000 is an all-time high depends on the specific market cycle and historical data at the time of this surge. However, it represents a highly significant psychological and technical milestone, indicating strong bullish momentum and breaking past previous resistance levels. 3. How does this surge impact the broader crypto market? Bitcoin’s strong performance often acts as a leading indicator for the broader crypto market. A significant Bitcoin rally typically creates positive sentiment, leading to an ‘altcoin season’ where other cryptocurrencies also experience price increases, though often with higher volatility. 4. What are the risks of investing in Bitcoin at this price? Investing in Bitcoin, especially after a significant surge, carries risks such as high volatility (potential for rapid price corrections), regulatory uncertainty, security risks (e.g., exchange hacks, personal key loss), and the inherent speculative nature of the asset. It’s crucial to understand these risks before investing. 5. Should I invest in Bitcoin now? Investment decisions should always be based on your personal financial situation, risk tolerance, and thorough research. While the current rally is exciting, it’s advisable to avoid making impulsive decisions. Consider strategies like dollar-cost averaging and consult with a financial advisor if unsure. 6. Where can I monitor Bitcoin’s price and market trends? You can monitor Bitcoin’s price and market trends on various cryptocurrency exchanges (like Binance, Coinbase), financial news websites, and dedicated crypto market data platforms. Bitcoin World market monitoring also provides up-to-date information and insights. Did you find this article insightful? Share this crucial update with your network and help others understand the dynamics of Bitcoin’s astonishing ascent! To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action. This post Bitcoin’s Astonishing Ascent: BTC Surges Past $118,000 first appeared on BitcoinWorld and is written by Editorial Team
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A billionaire who made his fortune at Tiger Global just poured more than $300 million into a high-growth stock that’s skyrocketed over the last year. Karthik Sarma, who now spearheads SRS Investment Management, sold all of the hedge fund’s massive investment in Nvidia (NVDA) between Q1 of 2024 and Q1 of 2025. Now, new 13F filings show Sarma has piled about $334 million, purchasing 4.74 million shares, into Tapestry (TPR). The luxury goods company, known for its premium handbag and accessories brands like Coach and Kate Spade, has seen its stock surge over 100% in the past 12 months. Tapestry specializes in designing and retailing high-end fashion accessories, leveraging its iconic brands to capture the growing demand for luxury lifestyle products. The company’s strong cash flows and strategic share-repurchase program may have also caught Sarma’s eye, with SRS Investment Management now allocating about 4.5% of the hedge fund’s portfolio to the new investment. That makes Tapestry the fourth-largest allocation at SRS, following Pdd Holdings Inc. at 6.45%, Planet Fitness Inc. at 6.09%, and Meta Platforms Inc. at 5.75%, highlighting a strategic focus on e-commerce, fitness, AI and tech, alongside luxury retail. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action 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 Tiger Global Billionaire Abruptly Dumps Nvidia, Pours $334,000,000 Into Surging US Asset appeared first on The Daily Hodl .
Market not ready to give up, but bears might not leave it a choice