01-JAN-2021

3 weeks ago

VanEck Has Refiled its Application For a Bitcoin ETF. Here’s Why – via Decrypt
Investment firm VanEck files a new Bitcoin ETF with the SEC days after former chairman Jay Clayton leaves the position. VanEck withdrew its last attempt at an ETF on September 17, 2019, after several attempts were blocked by the U.S. Securities and Exchange Commission (SEC). The SEC has repeatedly blocked Bitcoin ETFs submissions because it believes the Bitcoin market is prone to manipulation, so no ETFs for anyone.

3 weeks ago

Crypto Market Cap Hits New Highs Above $775 Billion – via CryptoBriefing
The value of the entire cryptocurrency market has reached a new all-time high above $775 billion. Bitcoin dominates the market, with 71% of its value. Experts believe 2021 will be a good year for Bitcoin.

3 weeks ago

$7 Billion “Lost” and HODLed Bitcoin Found Since Start of Bull Run – via Decrypt
Bitcoin left untouched for years is moving once again. The amount of Bitcoin that was thought to be lost keeps dropping. It is coming back into circulation because investors are moving it. The amount of “lost” or “Hodled” Bitcoin just hit a new low—and now stands at 7,252,161.786 BTC, according to data metrics site Glassnode. That’s $209 billion-worth of the cryptocurrency at today’s price.

3 weeks ago

Colombian Watchdog Says Companies Can Convert Capital to Bitcoin – via CryptoNews
In an official notice, the Superintendency of Corporations (Superintendencia de Sociedades), the nation’s corporations regulator explained that following a consultation, firms in Colombia are now legally permitted to use their capital to buy cryptoassets such as bitcoin (the only token explicitly named in the document) – so long as they abide by regulations outlined in the existing commercial code.

3 weeks ago

Why This VC Expects Altcoins to Boom as Bitcoin Rally Enters an “Extreme” – via NEWSBTC
Matt Kaye, crypto-focused venture capitalist at Blockhead Capital, explained in a recent tweet that he is slowly converting his Bitcoin to altcoins, noting that he expects an imminent flood of capital away from BTC and towards its smaller peers. “I’ve starting selling BTC for alts over the past 7 days and will continue to. The extreme nature of this period is why. I’m betting on: – Extreme mrkt positioning – General greed & fomo – ALTs being under owned as holders capitulate for BTC – Cyclical nature of the market.”

3 weeks ago

COVER Hack: Cover Protocol and Binance Announce Compensation Plan for Hack Victims – via CoinGape
Cover Protocol, a Defi insurance protocol was recently exploited by a white hat hacker minting an infinite amount of the COVER protocol token owing to an infinite minting bug. The hacker later sold a portion of the Cover protocol token for 4350 ETH worth $3 million and burnt the rest of the tokens, he also returned the funds generated via the sale of the token back to the deployer.

3 weeks ago

Aggregated Bitcoin Futures Open Interest Hits All-Time High – via U.TODAY
Open interest for Bitcoin futures across major exchanges has hit a new all-time high of $3.34 billion, according to data provided by CryptoQuant.This might signal that the derivatives market is getting a bit too overheated. Many previous open interest peaks were preceded by a market correction; this was the case in early September and late November.

3 weeks ago

Can the SEC Devastate Bitcoin Like XRP By Classifying BTC As A Security? – Crypto Critic Speculates – via ZYCRYPTO
If the US Securities Exchange Commission (SEC) decided to go after Bitcoin like it’s doing to Ripple, Bitcoin would fall just as quickly as Ripple’s XRP has in the last couple of days, according to renowned Bitcoin critic and gold crusader Peter Schiff. After close to three years of indecision, the US SEC finally went after Ripple last week for conducting illegal securities token sales with XRP. At the time of the announcement, XRP was in the midst of a long-overdue rally aiming to reach $1 and beyond. Ripple’s woes started immediately after the lawsuit with mass liquidations followed by delisting by major exchanges including Coinbase, which plans to suspend XRP trading in January 2020. The shocking news came a day after Ripple’s CEO Brad Garlinghouse warned that the SEC was preparing to sue Ripple as part of its agenda to sabotage crypto innovation in the US through its outgoing chair Jay Clayton.

3 weeks ago

Fears of Bearish Correction Loom as Bitcoin OTC Deals Plunge – via NEWSBTC
Bitcoin faces the prospects of undergoing a massive downside correction as on-chain data shows a plunge in its over-the-counter deals. According to data fetched by CryptoQuant, the total amount of Bitcoin tokens flowing out of Coinbase Pro’s addresses to their newly-created custodial cold wallets has decreased ever since BTC/USD crossed above $23,000. As CryptoQuant’s CEO Ki-Young Ju noted earlier, these wallets hold Bitcoin for major crypto-enabled firms like Genesis Trading (which buys Bitcoin for Grayscale Investments, one of the largest crypto accumulators) and Ruffer Investment (which bought around $750 million worth of BTC last year). That allows the data analytics portal to equate large BTC transfers from Coinbase Pro to new wallets as OTC transactions.

3 weeks ago

MicroStrategy’s Stock Spikes Almost Triple Since It Acquired Bitcoin in August – via U.TODAY
MicroStrategy has witnessed a surge of nearly three times its share price since Aug. 11, when it first acquired Bitcoin with part of its reserve cash. MicroStrategy shook the community when, on Aug. 11, it announced it was allocating a mammoth $250 million of its reserve cash into Bitcoin. It was the first publicly-traded company to acquire the flagship cryptocurrency. As per a chart from Nasdaq, back on that day, MSTR was trading at $134.89. Today, on the last day of 2020, the share price constitutes $389.97—almost triple growth since August.

3 weeks ago

Is China Replacing Bitcoin with Digital Yuan? U.S. Listed Car Maker NIO Removes Bitcoin Payments Ads – via CoinGape
It’s Bitcoin Vs Digital Yuan, are Chinese authorities forcing companies to accept digital Yuan replacing Bitcoin? In a very unusual case today, NIO a U.S. listed electric car-maker company from China advertising to offer bitcoin payment services at its dealership suddenly removed ads altogether. First the Bitcoin ads were replaced with digital currency and then removed suspiciously.

3 weeks ago

Fundstrat’s Tom Lee Expects Bitcoin to Soar 300 Percent in 2021 as It Hits $29,000 – via U.TODAY
In an interview with CNBC, Fundstrat’s Tom Lee predicted that Bitcoin could triple in value in 2021: I think, in rounder numbers, 2021 is gonna be a lot of like 2017, which means Bitcoin should do even better in 2021 than it did in 2020. So, something above 300 percent. Lee added the interplay between the weaker dollar and stronger Bitcoin was part of his thesis, adding that younger generations now view the flagship cryptocurrency as an alternative to gold.

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