Block, led by Jack Dorsey, reported a substantial increase in Bitcoin gross profit through its Cash App, contributing to a 90% year-over-year rise. The fourth-quarter 2023 earnings report revealed a $66 million gross profit on Bitcoin sales, prompting a significant surge in Block’s stock price during after-hours trading. Bitcoin Sales Surge Block’s Bitcoin revenue witnessed […]
Popular social community platform Reddit has filed for an initial public offering (IPO), as indicated by a Thursday Securities and Exchange Commission (SEC) filing. Firstly, the filing discloses Reddit’s strategic move to invest in Bitcoin (BTC) and Ethereum (ETH) as part of its balance sheet diversification. Cryptocurrency Investments In the IPO filing, Reddit acknowledges allocating excess cash […]
In the ongoing Crypto Open Patent Alliance (COPA) vs. Craig Wright case, cryptographer and Blockstream CEO Adam Back presented a series of emails from the mysterious Satoshi Nakamoto to the UK High Court of Justice. The emails, spanning 2008 and 2009, shed light on the early days of Bitcoin and challenge claims by Craig Wright, […]
A prominent crypto whale, identified as 0x7a9 by blockchain analytics firm Spot On Chain. It has acquired a staggering $185.5 million worth of Ethereum (ETH) over the past three days. This substantial accumulation of ETH has fueled discussions about its potential impact on Ethereum’s price trajectory and overall market sentiment. Strategic Acquisition Details The crypto whale’s buying spree involved […]
MicroStrategy co-founder Michael Saylor is a big believer in Bitcoin and believes that the recently approved spot Bitcoin ETFs will lead to a significant inflow of institutional capital into the Bitcoin ecosystem. Bitcoin: The Superior Store of Value Saylor said that Bitcoin is a “rising tide” that will “lift all boats” and that MicroStrategy’s “levered operating strategy” for Bitcoin positions the […]
The nine newborn U.S. spot bitcoin ETFs have made a dramatic entrance, accumulating over 200,000 BTC (worth roughly $9.5 billion) in their first month. This impressive feat surpasses the holdings of major bitcoin entities like software giant MicroStrategy and stablecoin issuer Tether and collectively represents almost 1% of the total bitcoin supply. The rapid growth […]
The United Nations (UN) is poised to expose North Korea’s alleged six-year, $3 billion cyberattack campaign against cryptocurrency firms, as reported by Reuters. This comes amidst growing concerns about the misuse of crypto in illicit activities and its potential contribution to North Korea’s weapons program. Unpublished UN Documents Reveal 58 Crypto-Related Attacks An independent sanctions […]
The launch of spot Bitcoin ETFs in the US has generated remarkable results, with BlackRock and Fidelity’s offerings smashing records for asset accumulation in their first month. Bloomberg Intelligence data reveals that both BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) have secured over $3 billion in assets in 17 trading […]
Bitcoin’s recent rally above $45,000 is fueling a rebound in “Bitcoin-adjacent” stocks, even with the arrival of long-awaited Bitcoin spot ETFs. These companies, often seen as indirect ways to gain exposure to cryptocurrency, are outperforming the market despite the new competition. MicroStrategy (MSTR) rose 12% to $569/share with its substantial 190,000 BTC holdings. Coinbase (COIN) […]
Bitcoin breached the $44,000 mark on Wednesday, its highest level since mid-January. This surge comes amidst positive developments in both the crypto and traditional finance spheres. Bitfinex analysts previously suggested that heightened selling by miners might have contributed to recent pressure on BTC prices. However, today’s market dynamics, highlighted by crypto analyst Ali Martinez in […]