On April 23, COINOTAG News reported that in early March, former President Trump signed an executive order aimed at creating a national Bitcoin reserve, along with strategic reserves for various
Tesla’s recent earnings report has spotlighted the company’s strategic decision to retain its Bitcoin holdings, despite market fluctuations. Amidst declining revenues and earnings, CEO Elon Musk’s focus on cryptocurrency seems
On April 23rd, Bitcoin experienced a noteworthy surge, momentarily exceeding the $94,000 mark before stabilizing at approximately $93,066. This price fluctuation has significant implications for institutional investors, particularly for Strategy,
The post Pi Coin Price Prediction Today: Can it Hit $1 Ahead of Massive 223M Token Unlock? appeared first on Coinpedia Fintech News Pi Coin is currently showing decent gains of over 3% on the day, but the token remains trapped within a tight trading range, unable to break convincingly above the $0.70 resistance level. Despite a small price uptick, concerns are mounting as more tokens are set to hit the market in the coming weeks. Today, approximately 5.8 million PI tokens are scheduled to unlock, with a much larger wave — 223 million tokens — expected to be released over the next 30 days. This influx of supply could intensify downward pressure on the price, especially in the absence of strong buying demand. At the time of writing, Pi is hovering around $0.66, a critical level for bullish sentiment. If the price can close above this level on the daily chart, analysts suggest it could open the door for a potential rally toward $1 or higher. However, failure to hold this support might see the price slide further, especially as token unlocks flood the market. Since being listed in February, Pi Coin has seen dramatic price swings — climbing as high as $3 at its peak before plunging to lows around $0.40. The decline has left many early adopters and miners, particularly those active since Pi’s early days in 2019 and 2020, disappointed. Several factors have contributed to Pi’s ongoing price struggles: Mass Selling After Token Releases : Like many airdropped tokens, Pi faces significant sell-offs after token generation events. A large portion of its user base, especially in regions like Africa and Asia, has been quick to liquidate holdings for cash, leading to increased supply pressure. High Circulating Supply : Currently, Pi has a circulating supply of over 6.9 billion tokens, with a total supply cap near 100 billion. Compared to Bitcoin’s capped supply of 21 million, the sheer volume of Pi tokens makes high price expectations — like $100 or even $10 — highly unlikely under current conditions. Limited Real-World Adoption : Although Pi’s vision includes becoming a widely-used medium of exchange, real-world usage remains minimal. While a few businesses accept Pi, broader adoption is still lacking, which limits utility-driven demand for the token.
Jay Clayton takes charge of Wall Street’s most powerful prosecutor's office, bringing a controversial crypto enforcement record and deep ties to the financial sector.
Tesla has held onto its Bitcoin during the first quarter of 2025 as CEO Elon Musk promised shareholders that he would scale back his time working as the Trump administration’s cost-cutting czar. Musk’s comment appears to have been the main catalyst behind Tesla’s (TSLA) 5.4% price jump in after-hours trading on April 22 to $250.80 after closing the trading day up 4.6%, according to Google Finance. It comes as the automaker’s Q1 results released the same day show revenues hit $19.34 billion, missing Wall Street estimates by 7.85% and marking a 9.2% fall from the same period last year. Tesla’s net income of $409 million also marked an 80.8% quarter-on-quarter drop and a 70.5% fall from Q1 2024. Source: Tesla Tesla’s digital asset holdings dropped 11.61% in value from $1.076 billion to $951 million in Q1, alongside Bitcoin’s ( BTC ) 11.56% price fall to $82,514 over the same time, according to CoinGecko data. A new rule from the Financial Accounting Standards Board allows public companies to report their crypto holdings at market value. Before, only losses were recorded — unless the crypto was sold. Tesla’s 11,509 Bitcoin stash is now worth over $1.07 billion as a result of the market rebound over the last week, according to Bitcoin Treasuries data. Tesla’s Bitcoin holdings haven’t changed since June 30, 2022. Musk to ease up on DOGE duties In an April 22 earnings call , Musk promised that he would scale back his time working at the Trump administration's so-called Department of Government Efficiency, or DOGE, to focus more on Tesla. “Starting probably next month, May, my time allocation to DOGE will drop significantly,” Musk said. “I’ll be allocating far more of my time to Tesla now that the major work of establishing the Department of Government Efficiency is done.” Musk said he’ll continue to spend “a day or two per week” on DOGE-related matters for as long as US President Donald Trump needs to ensure the “waste and fraud that we stop does not come roaring back.” Related: Peirce signals SEC ‘reorientation’ under new chair Paul Atkins Tesla’s 5.4% rise in after-hours came on the back of a 4.6% increase to nearly $237 during the April 22 trading day as the broader market clawed back some losses from earlier in the week. Tesla shares are still down over 37% year-to-date, driven partially by declining sales, Musk’s increased political presence and economic uncertainty stemming from Trump’s tariffs. Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
In a recent CryptoQuant Quicktake post, contributor Crazzyblockk highlighted key Bitcoin (BTC) cost basis zones that the leading cryptocurrency must clear – or avoid breaking below – to sustain its bullish momentum. Analyst Highlights Key Bitcoin Cost Basis Zones Bitcoin is beginning to show signs of newfound strength, with the top digital asset surging nearly 3.5% over the past week and trading in the high $80,000 range at the time of writing. BTC’s rise amid the global equity market downturn has reignited discussions about the cryptocurrency’s potential to ‘decouple’ from traditional markets. Related Reading: Bitcoin Rally Ahead? Analysts Say These Key Indicators Look Bullish In a recent Quicktake post, CryptoQuant contributor Crazzyblockk outlined Bitcoin’s various cost basis zones and realized price cohorts to identify key resistance and support levels. The analyst noted that short-term holders – those who have held BTC for less than 155 days – currently have their realized price, or average cost, sitting at the $91,500 resistance level. Crazzyblockk added that this group tends to be the most price-sensitive. On the other hand, the cost basis for new holders – those who have held the digital asset for one to three months – currently has its strongest support level around $83,700. The analyst pointed out that this level represents the cost basis of recent market participants, who often lead short-term trend changes. To clarify, cost basis zones are price levels where a significant amount of BTC was last moved or acquired. A potential breakout above the short-term holders’ realized price would suggest new bullish momentum, as these holders would be back in profit and less likely to sell their holdings. Conversely, a break below the new holders’ cost basis support level could signal potential downside movement, as recent buyers might begin incurring losses and be forced to capitulate. Notably, each cost basis line highlighted in the chart below is calculated based on the realized price of Unspent Transaction Outputs (UTXOs) held within a specific age band. Similarly, realized price is determined by dividing the total value of all UTXOs by the number of coins. Are Investors Expecting Further Upside? Recent on-chain analysis suggests that BTC holders may be anticipating further upside. Short-term holders appear to be holding onto their BTC despite being in a loss position. Related Reading: Bitcoin Undervalued? Analyst Breaks Down Bullish On-Chain Metrics Additionally, crypto exchange net flow data hints that a BTC price rally may be imminent. Some analysts are also drawing parallels to gold’s recent historic price action and predicting that ‘digital gold’ may soon experience similar momentum. That said, Bitcoin futures index sentiment is pointing toward rising pessimism surrounding BTC, driven by macroeconomic uncertainty. As of press time, BTC is trading at $88,759, up 1.7% in the last 24 hours. Featured image created with Unsplash, charts from CryptoQuant and TradingView.com
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Financial Times reports Cantor Fitzgerald, Softbank and Tether are putting the finishing touches on a $3 billion bitcoin acquisition vehicle aimed at harnessing the cryptocurrency’s renewed vitality under the Trump administration. FT Sources Detail Trio’s Push to Corner Bitcoin Spearheaded by Brandon Lutnick—son of U.S. Commerce Secretary Howard Lutnick—the project seeks to echo Strategy’s (formerly
Cantor Fitzgerald is teaming up with crypto heavyweights Tether, Bitfinex, and SoftBank on a $3 billion Bitcoin investment vehicle. According to an Apr. 22 report by Financial Times, the group plans to form a new publicly traded firm called 21 Capital, which will receive $3 billion in Bitcoin ( BTC ) from the participating companies. Tether ( USDT ) is expected to contribute $1.5 billion, while SoftBank and Bitfinex will add $900 million and $600 million, respectively. The venture will also raise a $350 million convertible bond and a separate $200 million private equity round to purchase even more Bitcoin. The venture aims to offer investors a publicly listed vehicle that tracks Bitcoin’s performance through direct holdings, similar to Strategy’s approach of leveraging debt and equity to accumulate BTC. That model has helped Strategy amass over 530,000 BTC for $36.4 billion, though its share price has dropped 20% from record highs reached in November. You might also like: Tether to deploy hashrate on Bitcoin mining pool OCEAN The project is being led by Brandon Lutnick, recently appointed chair of Cantor Fitzgerald and son of U.S. Commerce Secretary Howard Lutnick. The younger Lutnick’s goal is to position 21 Capital at the heart of what backers see as a renewed crypto bull market under the Trump administration. Contributing firms are expected to receive equity in 21 Capital at a valuation pegging Bitcoin at $85,000 per coin. Though subject to change, the deal is reportedly set to be announced in the coming weeks, according to sources familiar with the matter. Cantor Fitzgerald has already worked closely with Tether, advising on its $775 million investment in the video-sharing platform Rumble. The venture comes as the Trump administration signals a friendlier stance on crypto policy, despite Tether and Bitfinex’s past regulatory settlements. Paul Atkins, the new crypto-friendly as the Securities and Exchange Commission chairman , is expected to fast-track regulatory clarity, as well as enact policies that promote crypto innovation. Read more: Tether backs Fizen to improve stablecoin payments and self-custody