Month: January 2024

Bitcoin Attracts Millions In Chinese Capital Despite Ban: Report

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Chinese investors remain resolute in their pursuit of Bitcoin, despite the government’s ban since 2021. Bitcoin continues to attract substantial investment from Chinese capital, as Reuters reports today. Mainland China Is Still Buying Bitcoin Dylan Run, a finance executive in Shanghai, epitomizes this trend. Concerned about China’s economic outlook and the sluggish domestic stock market, Run ventured into Bitcoin in early 2023. As detailed in the Reuters report, he employed an astute strategy, utilizing bank cards issued by rural banks and keeping each transaction below 50,000 yuan ($6,978) to evade…

Grayscale’s GBTC Profit Taking Likely Over, Easing Bitcoin (BTC) Selling Pressure: JPMorgan

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Swan Bitcoin Unveils BTC Mining Unit as Parent Company Prepares to Go Public

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The miners have faced a brutal crypto winter as their revenue is directly correlated to the price of bitcoin. At the depth of the bear market, many large miners, such as Core Scientific (CORZ), went bankrupt, and others barely hung on. However, the recent rally in bitcoin price, helped by the spot bitcoin ETF, has helped the mining economics and even seen companies, such as Core, coming out of bankruptcy. Original

PEPE might recover as new meme coin with GameFi utility conducts presale

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Investors of a popular meme coin, Pepe Coin (PEPE), have been patiently waiting for a breakout as the coin has been in a sideways trend since late October. Meanwhile, some investors are exploring new meme coin presales with potential. Meme Fighter, which combines GameFi with memes, has been garnering attention. Their native token, MOFO, aims to provide utility to PEPE and other meme coins via a cross-chain platform of…

Asian asset managers agree on Hong Kong spot Bitcoin ETF

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Spot Bitcoin ETF fever spread outside the U.S., with Hong Kong regulators open to the product and local firms racing to become the first movers on the scene.  Value Partners Group and Venture Smart Financial Holdings (VSFG), two Hong Kong-based assets managers, reached a memorandum of understanding to collaborate on offering traditional investment vehicles underpinned by digital assets to local retail and institutional investors. Top of the list for both firms is the possible introduction of ETFs that track spot Bitcoin (BTC) ETFs, per a statement shared with crypto.news.  Value…

Navigating Control, Access, and Investment Strategies in the Digital Asset Landscape

Level of access: it refers to how closely an investor can interact with or from a digital asset in its purest form (on-chain). The more off-chain layers or wrappers around an asset, the less level of access. For example, the spot bitcoin ETF is a traditional (offchain) financial product backed 1:1 by bitcoins stored in a qualified custodian. Being cash-redeemable only, investors can’t redeem their shares for actual bitcoin, but they must liquidate them for cash. On the other end of the spectrum, self-custody is the purest, most direct access…

My Long-Term Investment Case for Bitcoin

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The solution in such a scenario, however, is simple. You need a neutral and mutually trusted asset in between. Gold could serve this role, and has done so historically, but it is inconvenient and expensive to send gold around physically. Oil could also be used, but is not divisible enough and is expensive to store and protect. Lastly, one could imagine small neutral countries like Switzerland acting as intermediaries, but they are likely to come under too much pressure from the larger centers of power. Bitcoin, however, is in many…