BITCOIN BOOST

MicroStrategy's Bold Bitcoin Buy

MicroStrategy's Bitcoin Expansion: MicroStrategy bolsters its portfolio by buying an additional 850 BTC. The total cost came out to around $37.2 million USD. This acquisition adds to its substantial holdings, now 190,000 Bitcoins valued at over $8.2 billion.

Quarterly Growth: MicroStrategy's Bitcoin strategy has led to the accumulation of 31,755 bitcoins since the end of Q3. This marks the 13th consecutive quarter of Bitcoin balance sheet growth.

Strategic Investments: Since initiating its Bitcoin investment in August 2020 with $250 million, MicroStrategy has consistently expanded its holdings and now holds nearly 1% of all bitcoins.

🚀 Mirroring 2020's post-Halving returns, BTC price could hit $280K. Charles Edwards of Capriole Investments predicts a potential Bitcoin surge to $280K in 2025, citing post-halving returns similar to 2020. Despite decreasing volatility with each cycle, he believes Bitcoin's previous performance was not its peak. Edwards highlights the significance of the upcoming halving, anticipating substantial returns as past halvings were not priced in. Read more predictions.

💰 Bitcoin ETFs secured $700M in net inflows last week. According to CoinShares, new spot BTC ETFs, spearheaded by BlackRock's $IBIT and Fidelity's $FBTC, amassed $7.7B, countering $6B USD in outflows from $GBTC.

📈 Facebook and Instagram plan to allow ads for spot Bitcoin ETFs. These social platforms allowing crypto ads will broaden the reach of Bitcoin advertisers to over 2 billion users. This move, mimicking Google's policy, could notably increase Bitcoin ETF visibility and investment, especially among older demographics.

📉 Bitfinex links Bitcoin’s price drop to miners selling holdings post-SEC ETF approval. Miners, anticipating the April halving which reduces their rewards, are liquidating bitcoins for liquidity and strategic positioning. Despite massive outflows, long-term investors hold strong, with eyes on the upcoming halving event. Read the full report.

🔍 US Energy Information Administration (EIA) to check BTC miners' energy use. This raises concerns amid unusual market conditions and the upcoming Bitcoin halving. Miners face challenges from increased transaction demand and federal scrutiny, potentially impacting the industry's stability.

🌏 South Korea Financial Supervisory Service (FSS) discusses spot BTC ETFs. The FSS plans to meet with SEC Chief Gary Gensler following the SEC's approval of such ETFs.

In 2024, will we see another "Bitcoin president" like Bukele but in a different country?

👍 Yes - 89.7%

👎 No - 10.3%

👍 Yes - “Too many countries on the brink for a hero not to rise…” - Sam

👍 Yes - “I think so and it will be Venezuela.” - Josh

🔍 BitcoinNews.com argues that Bitcoin appreciates due to its finite supply, growing demand, and role as an inflation hedge. Engineered to preserve value, its adoption by institutions and technological advancements further enhance its worth, distinguishing it as a secure alternative in volatile economies.

💼 The U.S. government requests a hearing to address potential conflicts of interest in cases involving former FTX CEO Sam Bankman-Fried and former Celsius CEO Alex Mashinsky. Prosecutors raised concerns about lawyers representing both CEOs, citing possible conflicts due to intertwined business relationships.

⚡️ Claims of Texas miners' impact on BTC difficulty during "Finn" are exaggerated. ERCOT data reveals the curtailment was partly due to high prices and voluntary efforts to support the grid. The data indicates Bitcoin miners are responsive to economic signals and grid needs.

69 - The amount of days left until the 2024 Bitcoin halving.

10% - The amount of all bitcoins now held in treasuries of companies, countries and ETFs.

10.5% - The estimated difficulty increase at the next adjustment. Major amounts of hash power have come onto the Bitcoin network over the past week.