Bitcoin News and Finance: What You Need to Know

Recent blockchain analytics reveal that 4,000 bitcoins, valued at approximately $175 million, have been transferred from addresses believed to be controlled by Grayscale’s Bitcoin Trust, commonly referred to as GBTC. Records indicate that these transfers occurred in four separate batches of 1,000 bitcoins each, directed towards Coinbase. Arkham Data Shows Flagged Grayscale Wallets Sent 4,000 Bitcoin to Coinbase The financial world is currently abuzz, especially following the debut of the new spot bitcoin exchange-traded fund (ETF), which saw a staggering $4.6 billion in trading volume on its first day. Concurrently, bitcoin’s value has experienced a 5.5% decline relative to the U.S. dollar. Amidst these market movements, it was observed on Friday that Grayscale’s reserves diminished by 4,000 BTC , equivalent to $175 million based on the prevailing exchange rates. While there is no absolute confirmation of the specific addresses Grayscale uses for its BTC holdings, Arkham Intelli...

Ark Invest CEO Cathie Wood has doubled down on her bullish bitcoin forecasts, now seeing a higher probability of the price of bitcoin soaring to $1.5 million per coin. She emphasized that the approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) has raised the probability of her bull case prediction. Ark Invest Sees Increased Probability of Bitcoin Reaching $1.5 Million Cathie Wood, the CEO of Ark Investment Management (Ark Invest), doubled down on her bitcoin price predictions on Thursday following the approval of 11 spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). Referencing Ark’s Big Ideas 2023 , the asset management firm’s yearly report highlighting “the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow,” Wood explained: “Our base case is in the $600,000 range” for the price of bitcoin. Ark’s “bull case” prediction sees ...

U.S. Senator Elizabeth Warren has slammed the U.S. Securities and Exchange Commission (SEC) for approving spot bitcoin exchange-traded funds (ETFs). She stressed that the securities regulator is “wrong on the law and wrong on the policy with respect to the bitcoin ETF decision.” Senator Elizabeth Warren Unhappy With SEC’s Spot Bitcoin ETF Approvals The U.S. Securities and Exchange Commission (SEC)’s recent approval of 11 spot bitcoin exchange-traded funds (ETFs) drew immediate criticism from U.S. Senator Elizabeth Warren (D-MA), who has long been a vocal skeptic of bitcoin and other cryptocurrencies. The senator wrote on social media platform X Thursday: The SEC is wrong on the law and wrong on the policy with respect to the bitcoin ETF decision. “If the SEC is going to let crypto burrow even deeper into our financial system, then it’s more urgent than ever that crypto follow basic anti-money laundering rules,” she stressed. Several “community notes” were placed on Warren’s twe...

Amidst escalating transaction fees, Ethereum’s Vitalik Buterin has suggested a substantial gas limit increase, potentially boosting network capacity and reducing user expenses. Ethereum’s Vitalik Buterin Advocates for Higher Gas Limit to Improve Network Capacity Ethereum ecosystem co-founder Vitalik Buterin has proposed an increase in the network’s gas limit. This adjustment, aimed at augmenting network capacity, could potentially lower costs for users and enhance transaction efficiency. Ethereum’s gas limit is the ceiling for the total amount of gas allowed in a single block. Gas, a fee necessary for conducting transactions or executing contracts on the Ethereum blockchain, ensures the network’s operational fluidity. Presently, the gas limit stands at 30 million. During an Ask Me Anything (AMA) session with the Ethereum Foundation’s research team on Reddit, Buterin suggested a “modest” gas limit increase, proposing a raise to approximately 40 million. This adjustment represents ...