Category: Bitcoin News

Michael Saylor predicts Bitcoin will soar to $100k amid Trump’s pro-crypto administration

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MicroStrategy CEO Michael Saylor is expecting Bitcoin to hit $100,000 before the end of the year, stating that the 2024 U.S election outcome was ‘the biggest thing that’s happened in the past four years for Bitcoin.’ In an interview with CNBC on Nov. 14, the MicroStrategy CEO stated he is already planning a “New Year’s Eve” party at his house to celebrate Bitcoin (BTC) hitting an all-time-high of $100,000. When asked whether he sees any threats that could pull Bitcoin down to $30,000, Saylor expressed certainty that BTC will not…

Pro-bitcoin Matt Gaetz nominated as U.S. Attorney General

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Matt Gaetz, a Florida Representatives and American lawyer, has been nominated as Attorney General by President-elect Donald Trump. Gaetz was assigned due to his educational and career experience in law. President-elect Donald Trump nominated Matt Gaetsz, pro-bitcoin and Florida representative, to be the next U.S. Attorney General. Following this nomination, he resigned from the House of Representative on Nov. 13, 2024. According to the Nov. 13 X post, Trump praised Gaetz as a determined attorney committed to driving much-needed reform at the Department of Justice. Gaetz expects to prioritize ending…

Bitcoin ETFs See Third Highest Outflow Since Launch, the Other Two Times Was Just Before BTC Price Bottoming

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Since the launch of the ETFs, Thursday was the third worst day for the bitcoin-linked products. Interestingly, the other two times the ETFs saw outflows of over $400 million was on Nov. 4 ($541.1 million), just prior to the U.S. election, and May 1 ($563.7 million). On Nov. 4, bitcoin bottomed around $67,000 before going on a tear all the way to over $93,000. While the May low coincide with a bottom at just under $60,000. Original

India Urged to Embrace Bitcoin as Strategic Reserve Asset Amid Global Unrest

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Investment firm Bernstein has urged India to recognize bitcoin as a strategic reserve asset, highlighting its potential as “digital gold” amid global financial risks like inflation, U.S. debt, and geopolitical instability. Bernstein argues that India’s current focus on central bank digital currencies (CBDCs) and its classification of bitcoin as a “private currency” overlook BTC’s key […] Original

Nasdaq-listed Solidion pledges to allocate 60% of cash surplus to Bitcoin purchases

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U.S.-based battery tech company Solidion has pledged to allocate 60% of its excess cash reserves to Bitcoin as part of its treasury strategy. Solidion Technology, a U.S.-based battery materials provider, has committed to allocating more than half of its excess cash reserves to Bitcoin (BTC) purchases as part of its new corporate treasury strategy. As part of its new strategy, Solidion said in a Nov. 14 press release that it will direct 60% of any excess cash from operations into Bitcoin acquisitions and convert interest earnings from money market accounts…

Is Bitcoin (BTC) Price on Shaky Ground? Market Signals Reflect Patterns That Foretold the Recent Slide in Trump Media Shares

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“A typical indicator is the implied probability distribution: whether it is MSTR, COIN or Deribit’s BTC options, the implied probability distribution of different expiration dates has shown a significant left shift,” Griffin Ardern, head of options trading and research at crypto financial platform BloFin, told CoinDesk in a Telegram chat. “It seems that traders have an implied consensus that the prices of BTC and altcoins are still high, and more pullbacks may be on the way.” Original

Spot Bitcoin ETFs see negative day with $400.6m net outflows

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Spot Bitcoin exchange-traded funds in the United States experienced an outflow day on Nov. 14, ending their six-day inflow streak that had brought over $4.73 billion into the funds. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded net outflows of $400.67 million on Thursday, ending their positive run over the previous six trading days. The majority of the outflows were led by Fidelity’s FBTC, which logged outflows of $179.16 million—its highest outflow day since May 1, when it recorded $191.1 million in outflows. ARK and 21Shares’ ARKB…

US State Introduces Bill to Establish Bitcoin Reserves in Treasury Funds

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A Pennsylvania lawmaker has introduced a bill allowing state funds to invest in bitcoin as a hedge against inflation, aiming to strengthen financial stability. Bill Introduced in Pennsylvania to Build Bitcoin Reserves for State Funds Pennsylvania State Representative Mike Cabell announced Tuesday that he is introducing a bill to allow the state’s Treasury and pension […] Original