Cryptocurrency proponent and whistleblower Edward Snowden ignited controversy on Sunday when he labeled Bitcoin “the most significant monetary advance since the creation of coinage.”
Spot Bitcoin (BTC) ETFs witnessed a substantial influx of approximately $2.3 billion last week, nearly doubling the previous week’s inflow of $1.2 billion.
In the During the Asian session, Bitcoin is trading near $52,250, marking a modest increase of approximately 0.50% on Monday, the cryptocurrency landscape is undergoing significant shifts. Notably, Coinbase’s recent decision to halt native Bitcoin payments for merchants, opting instead for a Coinbase account requirement, has sparked a vibrant dialogue regarding Bitcoin’s scalability and practicality for everyday transactions.
The price of Bitcoin (BTC) is expected to soar beyond $80,000 this year thanks to the recent success of exchange-traded funds (ETFs), according to Bitwise Chief Investment Officer Matt Hougan.
In the wake of Bitcoin’s price dip to the $50,000 mark, the cryptocurrency community is keenly observing its recovery to $51,500, albeit with a near 1% decrease. Amidst this scenario, investors and analysts are scrutinizing the digital currency’s resilience and the broader implications of recent industry developments. These include notable incidents like the misappropriation of Bitcoins by an Australian police officer and record inflows into Bitcoin ETFs, alongside the mining difficulty reaching new heights ahead of the Bitcoin halving event.
MicroStrategy’s Bitcoin investment has soared beyond the $10 billion mark, owning over 190,000 BTC as Bitcoin’s value climbs past $50,000. This achievement underscores MicroStrategy’s confidence in Bitcoin’s long-term prospects and its utility as an inflation hedge.
Bitcoin spot ETFs in the United States absorbed another $477 million in net flows on Thursday, maintaining record growth despite a revival of outflows from the Grayscale Bitcoin Trust (GBTC).
U.S. Banks are pushing for the United States Securities and Exchange Commission (SEC) to change its controversial Staff Accounting Bulletin 121 (SAB 121) after they were excluded from serving as asset custodians for spot-Bitcoin exchange-traded funds (ETFs), according to a February 14th letter from a trade group coalition to the U.S. regulator.
Jupiter Asset Management’s compliance team blocked its investors from having any exposure to a cryptocurrency exchange-traded product (ETP) in one of its Irish UCITs funds, according to a Financial Times report.
Bitcoin’s recent price surge past $52,000 has sparked speculation about a pre-halving rally, a historical trend associated with the upcoming reduction in mining rewards.