Dennis Dinkelmeyer, CEO of asset tokenization platform Midas, said that 2024 is the year that blockchain goes “mainstream” following the success of The Open Network and its integration with the popular messaging app Telegram. In a Tuesday report shared with The Block, Dinkelmeyer argued that while crypto has grown significantly, it has struggled to achieve mass adoption and sustainable, real-world use cases outside of niche areas.
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A social media post by an X account named “Wicked” presents claims that Satoshi Nakamoto may have conducted 51% attacks on the Bitcoin blockchain in May 2009. Wicked speculated that Satoshi likely tested these attacks early on to understand their potential impact on the network.
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US-based spot bitcoin exchange-traded funds logged a modest daily inflow on Friday, but ended the week with a net negative outflow for the first time since Sept. 6. The total net assets held by the funds has declined from $61.21 billion on Sept. 27, one week ago, to $57.73 billion following the week's outflows and bitcoin's decline in price from about $65,000 on Friday the 27th to about $62,000 on Friday, Oct. 4th.
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🇧🇷 Experts Fear Cryptocurrency Outflows May Affect Exchange Rates in Brazil
Analysts believe that, in the future, outflows derived from cryptocurrency purchases could affect the domestic exchange rate in Brazil. The Central Bank of Brazil indicates that crypto assets and recreational services account for $14.7 billion that flowed out of Brazil through August, hinting at the use of virtual assets as payment tools.
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Analysts believe that, in the future, outflows derived from cryptocurrency purchases could affect the domestic exchange rate in Brazil. The Central Bank of Brazil indicates that crypto assets and recreational services account for $14.7 billion that flowed out of Brazil through August, hinting at the use of virtual assets as payment tools.
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A new US government filing suggests that Bitfinex may be the sole entity eligible for restitution in connection with the 2016 hack that resulted in the theft of approximately 120,000 BTC. Bitfinex’s LEO token jumped 14% to $6.85 following the release of the documents.
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Bitcoin remained above $60,500 after US inflation data released today showed higher-than-expected figures. The Core Inflation Rate year-over-year for September rose to 3.3%, surpassing the consensus estimate of 3.2%. Monthly core inflation increased by 0.3%, exceeding the forecasted 0.2%. Overall inflation rose by 0.2% month-over-month, with an annual rate of 2.4%, slightly above the expected 2.3% but still down from last month’s 2.5%.
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MicroStrategy has aggressively acquired bitcoin since 2020, leveraging debt and equity to maximize returns and outperform many traditional investments. The firm’s latest purchase of 7,420 announced last month took its holdings to 252,220 BTC, currently valued at just over $15 billion, against a total cost of around $9.9 billion and $4 billion worth of debt. That’s the equivalent of 1.2% of bitcoin’s total 21 million supply — making MicroStrategy the largest corporate bitcoin holder in the world.
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Tesla, the electric vehicle juggernaut operated by Elon Musk, has moved 11509 bitcoins worth an estimated $770 million to new addresses, according to onchain data tracked by analytics firm Arkham Research. This appears to be the company's entire remaining bitcoin treasury. In a series of transactions over the past hour, the company, which made an unprecedented $1.5 billion investment into bitcoin in February 2021, moved approximately $770 million worth of the cryptocurrency to about seven new addresses.
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In a recent interview with analysts at research and brokerage firm Bernstein, Fred Thiel, CEO of bitcoin miner MARA (formerly Marathon Digital), said the current AI environment resembles the early 2000s internet boom — and many companies, particularly smaller players, risk overbuilding infrastructure without sufficient demand.
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The growing premium at which business intelligence firm and corporate bitcoin holder MicroStrategy (ticker: MSTR) shares trade relative to their net asset value (NAV) is not something to fear, according to Benchmark. Currently at 2.3x, the premium hit a three-year high of 2.7x earlier this month, sparking debates among observers who argued that the stock should align more closely with the company's bitcoin holdings.
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Ethereum co-founder Vitalik Buterin continued his recent series of blog posts addressing Ethereum's future in a new post which outlines possible approaches the blockchain's community can take to mitigate proof-of-stake centralization risks as part of the planned "Scourge" upgrade.
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Bitcoin’s daily trading volume is regularly surpassing the total market capitalization of public Bitcoin mining companies, amid concerns public miners are overvalued. On Oct. 21, Bitcoin recorded $37 billion in spot trading volume, maintaining a trend between $20 billion and $40 billion throughout 2024. Bitcoin derivative’s open interest has also reached an all-time high of around $40 billion.
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Derivatives traders are positioning for a bullish trajectory for bitcoin in the days after the U.S. election on Nov. 5, according to Deribit CEO Luuk Strijers. He added that data shows there are twice as many bitcoin call options as put options set for the Nov. 8 options expiry, the first expiry following the U.S. presidential election. Strijers added that the forward implied volatility is 72.29%, which indicates a potential price swing of around 3.78% in the days following the presidential election.
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Standard Chartered’s Global Head of Digital Assets Research, Geoff Kendrick, published a report last week outlining projected bitcoin price movements based on potential outcomes of the upcoming U.S. presidential election. The research provides detailed scenarios for how bitcoin could respond to different election results.
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Bitcoin (BTC) is set for turbulent weeks ahead, with election uncertainty, the “Trump trade” narrative, and historically favorable fourth-quarter conditions creating a “perfect storm” for market movement, according to the latest “Bitfinex Alpha” report. Bitcoin has already demonstrated “whipsaw” price action following the 6% correction BTC underwent last week after approaching $70,000.
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Bitcoin’s (BTC) price could surge to $200,000 without the need for a collapse of the US dollar, according to Bitwise CIO Matt Hougan. In his latest investor memo, Hougain suggested that Bitcoin’s value rests on two independent forces: its role as a digital store of value and inflationary pressures on fiat currencies.
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