Month: March 2024

Bernstein Is ‘Now More Convinced’ About Bitcoin (BTC) Hitting $150K After Massive Rally

“We believe bitcoin miners are still largely retail-traded stocks and institutions have largely stayed away from bitcoin proxies, as traditional investors remain skeptical and still approach crypto with a rear-view bias,” analysts Gautam Chhugani and Mahika Sapra wrote. “With bitcoin climbing new highs of $71K, we expect institutional interest in bitcoin equities to finally tip over, and bitcoin miners to be the largest beneficiaries,” the analysts said, adding that the long bitcoin miners trade requires “more patience.” The rising bitcoin price and transaction fees will provide a cushion for the…

We Have to Make It Easier For People to Own Crypto Directly (Not Just With ETFs)

Bitcoin, on the other hand, has long carried the mantle of “digital gold” — all the scarcity of a commodity without the traditional transportation and storage costs required with physical goods. Why then do we bother with ETFs, which are effectively a wrapper, instead of owning your own digital gold in your own digital wallets? Because cryptocurrency is still in its early developmental phase and products such as wallets and exchanges are still complex and daunting for the vast majority. Source

U.S. President Again Proposes Crypto Mining Tax, ‘Wash Sale Rule’ for Digital Assets in New Budget

According to a summary table, the administration projects it could generate over $1 billion in the 2025 fiscal year by including digital asset transactions in wash sale rules alone, and north of $8 billion by including cryptocurrencies in mark-to-market rules. Over a 10-year period, these two rules could generate $25 billion and $7.3 billion, respectively (the budget seems to expect the mark-to-market rules adding to the national deficit after 2025). An excise tax on mining could remove some $7 billion from the national deficit over the next decade, the file…

94 Million XRP Exits Binance As Bulls Reclaim Control, What’s Going On?

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Crypto whale transaction tracker Whale Alerts has revealed various large XRP transactions in the last 24 hours as bullish momentum returns to the market. Interestingly, five of the large transactions in the past 24 hours have come from crypto exchange Binance, with the latest occurring in the past hour. In fact, 94 million tokens were recently transferred from Binance into unknown wallets, prompting investors to contemplate the reasons behind the transfers and possible outcomes. Large Transactions From Binance Data from Whale Alerts reveals that the transfers, worth over $57 million,…

Microstrategy Boosts Bitcoin Holdings to 205,000 BTC After $800 Million Capital Raise

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Microstrategy has bought 12,000 more bitcoins after completing a $800 million convertible note offering. The Nasdaq-listed company now holds a total of 205,000 bitcoins, acquired for an average of $33,706 per coin. The note offering “was well received in the marketplace and upsized to a total of $800 million in aggregate principal amount,” the company […] Original

Analyst Predicts Bitcoin Super Cycle, Sets Price Target At $80,000

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Bitcoin, the world’s largest cryptocurrency asset, has finally entered a new price threshold, surpassing its previous all-time high (ATH) of $69,000, accomplished nearly three ago. Following the latest milestone, crypto enthusiasts and experts are very bullish on the digital asset, predicting further upward movement to unprecedented heights in the upcoming months. Bitcoin Super Cycle Area Set At $80,0000 Cryptocurrency analyst Doctor Profit has shared a positive forecast for BTC with the crypto community on the social media platform X. His analysis, tagged “Big Sunday Report,” delves into the next step…

Bitcoin (BTC) Leads Strong Crypto Inflows

It’s all about bitcoin (BTC), which accounted for $2.6 billion of last week’s inflows as the U.S.-based spot ETFs continued to add thousands of coins per day alongside a major rally in prices. Year-to-date bitcoin inflows now account for 14% of bitcoin assets under management, said CoinShares. Source