BTC – Coin Network News

Salvadoran Press Raises Doubts on Piggy Bank Funds’ Ownership: 80% of BTC Came From Bitfinex

juan — Wed, 20 Mar 2024 00:35:31 +0000

Reports from local Salvadoran press are raising questions about President Bukele’s announcement last week, when he transferred 5,690 BTC to a cold wallet, stating that all of these belonged to the country. Moises Alvarado, a Salvadoran journalist, found that 80% of the funds in this wallet came from Bitfinex, an international exchange, while 20% came […]

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Michael Saylor's MicroStrategy Acquired an Additional 9,245 BTC

juan — Wed, 20 Mar 2024 00:24:32 +0000

MicroStrategy has continued expanding its bitcoin holdings, announcing the purchase of approximately 9,245 bitcoins for around $623 million in cash today.

According to the company’s new press release, it acquired the bitcoin between March 11 and 18, using proceeds from its recent convertible senior notes offering and excess company cash. The average purchase price was approximately $67,382 per bitcoin.

This latest acquisition comes just after MicroStrategy raised $603.75 million through a private offering of 0.875% convertible senior notes due in 2031. The company upsized the planned offering from $500 million after seeing strong demand.

With the new 9,245 BTC purchase, MicroStrategy now holds an aggregate total of approximately 214,246 bitcoins acquired at an average price of $35,160 per bitcoin. The company has spent $7.53 billion to accumulate its Bitcoin treasury reserves.

Led by CEO Michael Saylor, MicroStrategy continues to aggressively execute its bitcoin strategy even amid Bitcoin market volatility.

The company aims to hold Bitcoin as its primary corporate treasury asset, taking on debt and issuing equity to raise funds for further accumulation. MicroStrategy now own more than 1% of Bitcoin total supply.

While sceptics argue that bitcoin-backed loans introduce balance sheet risk, Saylor remains staunchly confident in bitcoin’s long-term trajectory. With its latest buy enabled by the upsized note offering, MicroStrategy is doubling down on its Bitcoin play.

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GBTC Experiences Its Largest Daily Drain Yet, Nearly 239,000 BTC Gone in Under 70 Days

juan — Tue, 19 Mar 2024 18:18:30 +0000

According to the latest statistics, Grayscale’s Bitcoin Trust (GBTC) experienced its most significant outflow on March 18, 2024, totaling $643 million. Onchain experts have closely observed GBTC’s activities as a considerable number of bitcoin have been moved out of the trust’s reserves. Record-Breaking Outflow Hits Grayscale Bitcoin Trust Grayscale has continued to face outflows, marking […]

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Standard Chartered Raises Bitcoin Target: BTC Could Hit $150K This Year, $250K Next Year

juan — Tue, 19 Mar 2024 07:20:29 +0000

Standard Chartered has raised its bitcoin forecast, predicting that the cryptocurrency’s price could reach $250,000 next year and $150,000 this year. The bank also adjusted its ether forecast as it anticipates the approval of a spot ether exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) in May. Standard Chartered’s Revised Bitcoin Price […]

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Dave Ramsey Sides With Warren Buffett on Bitcoin — Calls BTC Currency Based on Thin Air

juan — Mon, 18 Mar 2024 03:06:36 +0000

Personal finance expert and best-selling author Dave Ramsey says he agrees with Berkshire Hathaway CEO Warren Buffett regarding bitcoin. Viewing the crypto as a currency whose value is based on “thin air,” Ramsey stressed: “I wouldn’t wish bitcoin investments on somebody I really dislike.” Dave Ramsey on Bitcoin: ‘It’s Still Thin Air’ Personal finance guru […]

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BTC and ETH Derivative Tokens Dominate by Securing Several Top Positions in the Crypto Economy

juan — Sun, 17 Mar 2024 20:50:38 +0000

Throughout this month, bitcoin and ethereum have risen to their highest valuations in years. These two pivotal crypto assets have substantially influenced the cryptocurrency market, with bitcoin currently holding a 51.9% market dominance and ethereum at 17% as of mid-March 2024. Furthermore, in recent years, derivative tokens of bitcoin and ether have garnered significant popularity. […]

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9 New Bitcoin ETFs Surpass GBTC by Accumulating 450,000 BTC Worth Over $30B

juan — Sun, 17 Mar 2024 16:07:31 +0000

The latest statistics on bitcoin reserves from the nine new spot bitcoin exchange-traded funds (ETFs) reveal they currently possess 453,503.98 bitcoins, valued at approximately $30.29 billion based on the current exchange rates. The 9 New ETFs Hold Nearly a Half Million Bitcoin Since their inception on Jan. 11, 2024, these nine spot bitcoin ETFs have […]

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Kiyosaki Warns of Big Bubble, Analyst Predicts $330K BTC, Draper’s Wild El Salvador Prediction, and More— Week in Review

juan — Sun, 17 Mar 2024 12:59:51 +0000

Robert Kiyosaki has issued a stark warning about an impending financial disaster, which he believes will devastate baby boomers. A crypto analyst predicts bitcoin could exceed $330,000, defying historical growth patterns through a combination of pattern disruptions and the theory of diminishing returns. Venture capitalist Tim Draper forecasts that bitcoin will dramatically transform El Salvador […]

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El Salvador Will Keep Buying 1 Bitcoin Daily Until BTC ‘Becomes Unaffordable’ With Fiat Currencies, Says President Bukele

juan — Sun, 17 Mar 2024 02:01:39 +0000

El Salvador has been buying one bitcoin a day since 2022, according to President Nayib Bukele, who confirmed that his country’s “1 bitcoin a day program” will continue until the cryptocurrency “becomes unaffordable with fiat currencies.” The bitcoins acquired from El Salvador’s daily purchases are also deposited into the same wallet address used for the […]

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El Salvador Moves ‘Big Chunk’ of Its BTC to Cold Wallet — President Bukele Says ‘Call It Our First Bitcoin Piggy Bank’

juan — Sat, 16 Mar 2024 02:31:29 +0000

El Salvador has transferred “a big chunk” of its bitcoin holdings to a cold wallet, President Nayib Bukele has announced. “You can call it our first bitcoin piggy bank,” he said. As of writing, the wallet’s balance totals approximately 5,690 bitcoins. El Salvador Establishes Its First ‘Bitcoin Piggy Bank’ El Salvador’s President Nayib Bukele announced […]

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