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 ...

Financial research firm Fundstrat’s head of research has predicted that the price of bitcoin is headed for $150K and could hit $500K in five years. Emphasizing the cryptocurrency’s finite supply and “a potentially huge increase in demand with a spot bitcoin approval,” the analyst stressed that it is “definitely achievable” that bitcoin could reach half a million dollars in five years. Bitcoin Expected to Hit $150K Short-Term, $500K Possible Long-Term The head of research at Fundstrat, an independent financial research boutique, Tom Lee, shared his view on the bitcoin price outlook in an interview with CNBC on Wednesday. Replying to a question about what the price of bitcoin will be in one year and five years, he said: I think in the next 12 months, something over $100,000 … maybe over $150,000. Lee expressed the significance of the U.S. Securities and Exchange Commission (SEC)’s approval of 11 spot bitcoin exchange-traded funds (ETFs) on Wednesday. The funds started trading o...

Rich Dad Poor Dad author Robert Kiyosaki has revealed that he bought additional bitcoin following the approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). The famous author is deeply concerned about the U.S. economy, particularly the threat of hyperinflation. Robert Kiyosaki Increases Bitcoin Holdings After SEC Green-Lights Spot BTC ETFs The author of Rich Dad Poor Dad, Robert Kiyosaki, has revealed that he bought additional bitcoin following the approval of 11 spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. The famous author wrote on social media platform X Thursday: “Inflation or deflation? What if the PhDs at [the] White Hou...

U.S. spot bitcoin exchange-traded funds (ETFs) racked up $4.6 billion in total trading volume on their first day of trading. Blackrock, the world’s largest asset manager, debuted with more than $1 billion in trading volume for its Ishares Bitcoin Trust. Grayscale’s spot bitcoin ETF, which converted from the Grayscale Bitcoin Trust, registered a total trading volume of $2.3 billion. This is “easily the biggest Day One splash in ETF history,” said an ETF analyst. $4.6 Billion in Total Trading Volume The long-awaited debut of U.S. spot bitcoin exchange-traded funds (ETFs) ignited a trading frenzy on their first day of trading Thursday, reaching a cumulative volume of $4.6 billion. Blackrock, the world’s largest asset manager, debuted with over $1 billion in trading volume for its Ishares Bitcoin Trust (IBIT), followed by Fidelity Wise Origin Bitcoin Fund (FBTC), with a trading volume of $712 million. Grayscale’s spot bitcoin ETF, which was converted from its bitcoin trust (GBTC), had ...

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, cast the deciding vote approving 11 spot bitcoin exchange-traded funds (ETFs) in a landmark decision on Wednesday. Before the approvals, the securities regulator held a vote on spot bitcoin ETFs, with two commissioners favoring and two opposing. Gensler’s vote tipped the scales in favor of approval. Gensler’s Vote Tips the Scales in Favor of Spot Bitcoin ETF Approvals Before approving spot bitcoin exchange-traded funds (ETFs) on Wednesday, the U.S. Securities and Exchange Commission (SEC) held final votes on the rule changes proposed by NYSE Arca, Nasdaq, and Cboe BZX to list and trade the funds. Two SEC commissioners, Hester Peirce and Mark Uyeda, voted for approval, while Caroline Crenshaw and Jaime Lizárraga opposed it. The vote split at 2-2, with Gary Gensler casting the deciding vote in favor of approving spot bitcoin ETFs. Bloomberg analyst James Seyffart commented on Thursday: For those that...

Rich Dad Poor Dad author Robert Kiyosaki has predicted that the price of bitcoin will hit $150,000 “soon,” as the U.S. Securities and Exchange Commission (SEC) approved spot bitcoin exchange-traded funds (ETFs). He emphasized that he will be buying more bitcoin. Kiyosaki has issued diverse bitcoin price predictions, with his most eye-catching one reaching a staggering $1 million. Robert Kiyosaki Says He Will Buy More Bitcoin The author of Rich Dad Poor Dad, Robert Kiyosaki, has insisted that the price of bitcoin will hit $150,000 soon. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Commenting on the approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC), Kiyosaki said he is glad he bought bitcoin years ago. He emphasized th...

JPMorgan Chase CEO Jamie Dimon has insisted that bitcoin doesn’t have value, emphasizing that its use cases are sex trafficking, tax avoidance, money laundering, and terrorism financing. However, JPMorgan has teamed up with Blackrock to help the world’s largest asset manager grow its spot bitcoin exchange-traded fund (ETF) as a lead authorized participant. Jamie Dimon Insists Bitcoin Has No Value The CEO of JPMorgan Chase, Jamie Dimon, still believes that bitcoin has no value even as the U.S. Securities and Exchange Commission (SEC) approved 11 spot bitcoin exchange-traded funds (ETFs) on Wednesday. In an interview with Fox Business on Wednesday, Dimon expressed: I’ve always said that bitcoin doesn’t have value … The actual use cases are sex trafficking, tax avoidance, money laundering, terrorism financing. The JPMorgan executive’s comment echoed his statement made during a Senate Banking Committee’s hearing in December last year. In response to a question by U.S. Senator Eliza...

Amid the excitement surrounding the approval of spot bitcoin exchange-traded funds (ETFs), U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler issued a statement emphasizing that the regulator did not approve or endorse bitcoin by approving spot bitcoin ETFs. Gensler insisted that most crypto assets are securities, warning: “Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto.” SEC Chair Gary Gensler’s Statement About Bitcoin Following Spot Bitcoin ETF Approvals After greenlighting spot bitcoin exchange-traded funds (ETFs), U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler issued a statement clarifying the regulator’s stance on bitcoin and cryptocurrency. “Today, the Commission approved the listing and trading of a number of spot bitcoin exchange-traded product (ETP) shares,” the SEC chairman began , noting that the agency disapproved more than 20 exchange rule filings for spot bit...

In a landmark decision, the U.S. Securities and Exchange Commission (SEC) approved 11 spot bitcoin exchange-traded funds (ETFs), a move long anticipated by crypto enthusiasts. Despite this historic regulatory nod, the price of bitcoin witnessed stale action over the past 24 hours. In striking contrast, ethereum rallied, marking a 9.1% rise on Wednesday, overshadowing bitcoin’s underperformance. Ethereum Rises as Bitcoin Sees Muted Impact After ETF Approvals The SEC’s decision marks a significant turn in the regulatory landscape for cryptocurrencies. Six years after the Winklevoss Bitcoin Trust became the first Bitcoin ETF to be rejected in March 2017 , the approval of these 11 ETFs represents a watershed moment. However, the market’s response was unexpectedly muted. While such approvals typically fuel bullish sentiments, bitcoin’s price movement remained tepid, suggesting a more complex market dynamic at play. Bitcoin chart by TradingView Experts have been pondering the r...

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has advised investors to be cautious when considering crypto investments. His advice followed a series of warnings he issued the day before regarding the risks of crypto investing. The SEC is expected to green-light multiple spot bitcoin exchange-traded funds (ETFs) on Wednesday. Gary Gensler’s Advice to Crypto Investors The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, released another statement regarding crypto investing Tuesday, amid market expectations of imminent approval for spot bitcoin exchange-traded funds (ETFs). In a post on social media platform X, Gensler urged investors to be cautious if they are considering an investment involving crypto assets. He warned: “Crypto asset securities may be marketed as new investment opportunities but there are serious risks involved.” The SEC chairman posted a link to an article by Lori Schock, Director of the SEC’s Office of Investor ...

Bitcoin’s value experienced a turbulent Tuesday, largely due to a rogue post from the U.S. Securities and Exchange Commission’s hijacked X account, mistakenly proclaiming the green light for all spot bitcoin exchange-traded funds (ETFs). False Spot ETF Approval Post Causes Chaos in Bitcoin Markets This erroneous message from the official Twitter of the U.S. Securities and Exchange Commission (SEC) sparked a rapid increase in bitcoin’s price, soaring close to $48,000 per unit. Yet, this surge was short-lived as the price promptly dropped to around $45,000 once the market recognized the false nature of the announcement. This event stirred unease among investors and crypto enthusiasts, with some drawing parallels to a pump-and-dump strategy. Tennessee Senator Bill Hagerty demanded clarity from the SEC, pointing to possible market manipulation. Hagerty stated : Just like the SEC would demand accountability from a public company if they made such a colossal market-moving mistake, Con...

The U.S. Securities and Exchange Commission (SEC)’s X account announced the approval of spot bitcoin exchange-traded funds (ETFs) on Tuesday. However, minutes later, SEC Chairman Gary Gensler claimed that the agency’s social media account was compromised and the post was unauthorized. Some suspect an internal SEC error behind the premature bitcoin ETF announcement. SEC’s ‘Unauthorized’ Spot Bitcoin ETF Announcement Amidst soaring anticipation for potential spot bitcoin exchange-traded fund (ETF) approval, an official U.S. Securities and Exchange Commission (SEC) account on social media platform X announced on Tuesday that the regulator has approved spot bitcoin ETFs for trading on all registered national securities exchanges. As excitement surged across the crypto industry and social media went wild over the fake news, SEC Chairman Gary Gensler quickly took to X platform to clarify that the SEC account was compromised and an unauthorized post claiming spot bitcoin ETF approval was...

The U.S. Securities and Exchange Commission (SEC) is expected to green-light “a handful” of spot bitcoin exchange-traded funds (ETFs) on Wednesday, potentially unleashing a wave of trading this week. On Monday, 10 applicants submitted their final amendments, including Blackrock, which also filed to register its Ishares Bitcoin Trust as a security. SEC Expected to Green-Light Spot Bitcoin ETFs on Wednesday Monday was filled with anticipation in the spot bitcoin exchange-traded fund (ETF) race as 10 applicants filed final amendments with the U.S. Securities and Exchange Commission (SEC), meeting the regulator’s 8 a.m. deadline. Market expectations of potential approvals sent BTC soaring past $47,000 . As investors eagerly await the SEC decision on spot bitcoin ETFs, CNBC reported Monday that the securities regulator could unlock the gates for several applicants on Wednesday. Reporter Kate Rooney detailed: Bitcoin ETF is now widely expected to get the green light this week. Two so...

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has issued warnings about crypto investing amid soaring anticipation for potential spot bitcoin ETF approvals. The SEC chief stressed that crypto investors “should understand they may be deprived of key info” and “other important protections” in connection with their investment. Gary Gensler’s Crypto Warnings The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, raised concerns about investing in crypto assets in a series of posts on social media platform X Monday. His warnings came amid heightened anticipation for spot bitcoin exchange-traded fund (ETF) approvals. “Some things to keep in mind if you’re considering investing in crypto assets,” the SEC chief began . Firstly, Gensler warned, “Those offering crypto asset investments/services may not be complying w/ applicable law, including federal securities laws,” elaborating: Investors in crypto asset securities should understand they m...

Visa, a worldwide leader in credit payment technology, has announced that it will include Web3 elements in its customized loyalty program solution. The company partnered with Smartmedia Technologies, a Web3 loyalty rewards startup, to add innovative features to these programs that include virtual worlds, digital wallets, and gamified rewards. Visa Turns to Web3 to Revitalize the World of Loyalty Rewards Programs Visa, one of the largest payments companies in the world, is adding Web3 elements to its loyalty program solution. The company announced that it was revitalizing its traditional engagement solution with Web3 elements to catch the attention of a new kind of customer with more expectations about rewards than just receiving points. For this, Visa partnered with Smartmedia Technologies, a startup that allows adding virtual and digital experiences to rewards programs. Smartmedia has worked with American Express, Accenture, Axe, and Vodafone. Kathleen Pierce-Gilmore, SVP and G...

Rep. Blaine Luetkemeyer’s retirement at the end of 2024 opens the door for a new era in cryptocurrency regulation, with Rep. French Hill (R-Ark.) poised to lead the charge in the House Financial Services Committee. Shift in House Financial Services Committee Leadership Could Lead to More Progressive Crypto Legislation In a move that could impact the future of cryptocurrency regulation, U.S. Rep. Blaine Luetkemeyer (R-Mo.) announced his retirement at the end of 2024. This decision leaves a potential opening for a more crypto-friendly chairmanship of the House Financial Services Committee, following the departure of the current chair, Patrick McHenry, in early 2025 when his term ends. pic.twitter.com/Kp2TmrR7jw — Blaine Luetkemeyer (@RepBlaine) January 4, 2024 Luetkemeyer, who currently holds a position on the House Financial Services Committee, had expressed interest in running for McHenry’s chairmanship. His retirement opens the door for Rep. French Hill (R-Ark.), known for lea...

Microstraetgy’s executive chairman, Michael Saylor, has warned about new bitcoin giveaway scams using AI-generated deepfake videos featuring him and his company. “There is no such thing as a free lunch,” the Microstratgy executive stressed. The deepfake Saylor urges investors to send him bitcoin or ether, promising to double any amount sent. Saylor Warns of Deepfake Bitcoin Giveaway Scams A wave of scams targeting cryptocurrency investors using AI-generated deepfake videos has swept across platforms like Youtube and X, with Ripple CEO Brad Garlinghouse and Microstrategy executive chairman Michael Saylor among the prominent figures featured. On Friday, Saylor issued a warning about fraudulent deepfake videos of him and Microstrategy giving away bitcoin appearing on Youtube. The AI-generated videos prompted him to urge his followers to exercise caution, emphasizing: “There is no such thing as a free lunch.” The video shows a deepfake of Saylor urging viewers to send him bitcoin, p...

Former Bitmex CEO Arthur Hayes is cautioning about a potential 30% correction in the bitcoin market. “The washout could be even more severe if the slate of U.S.-listed spot bitcoin ETFs has already commenced trading,” he warned. “I could easily see a 30% to 40% correction due to a dollar liquidity rug pull.” Ex-Bitmex Chief’s Bitcoin Predictions Former Bitmex CEO Arthur Hayes outlined his bitcoin price forecast in a Medium post published last week. He also discussed the impact of spot bitcoin exchange-traded funds (ETFs) on the price of bitcoin. The U.S. Securities and Exchange Commission (SEC) is expected to approve multiple spot bitcoin ETFs early next week. Noting that he expects three variables to “collide with each other in March,” the former Bitmex boss predicts: I expect bitcoin to experience a healthy 20% to 30% correction from whatever level it has attained by early March. The washout could be even more severe if the slate of U.S.-listed spot bitcoin ETFs has already co...