Tag: Bitcoin

Kaixin Eyes Crypto Mining Expansion Amid Bitcoin’s All-Time High

Summary: Kaixin which is a Chinese EV making company, it aims to shift from it’s actual core business of automobile and plans on controlling stake in Middle Eastern Cryptocurrency mining facility. This project is severely beneficial for Kaixin from sectors such as cost-effective mining machines and stable energy supplies which perfectly aligns with Kaixin’s expertise in sustainable practices.

Strategic Shift for Kaixin

Kaixin isn’t a rookie name in terms of automobile companies and for which Electric Vehicle Manufacturer to shift from it’s major path and step on to this unventured territory is a big risk, but will it also return back at them with big rewards? The company us in advanced talks to acquire a Middle Eastern mining facility, by showing their sustainable background and it’s super and real easy access to stable energy and cost-efficient Bitcoin mining machines as key advantages.

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Leveraging Expertise in Sustainability

Many people believe that Kaixin took this initiative because it always had expertise in sustainable operations. The company aims to make a good use of it’s expertise while continuing to maintain it’s actual and core focus on automobile excellence.

Riding the Crypto Wave

This move came after Bitcoin hit it’s all time high and is still on a rampage streak, this pushed the global crypto cap beyond $3 trillion. Kaixin’s choice of vividly shifting it’s major focus to crypto must have been an affect of BTC’s recent success. The acquisition timeline remains unclear as evaluations continue.

Thumzup Allocates $1M for Bitcoin Treasury Reserve

Summary: Thumzup which is a Los Angeles-based Media Corporation is taking it’s initial step into the crypto world by allocating up to $1M of its treasury to Bitcoin. Robert Steele who’s the CEO of the said company said Bitcoin’s growing institutional acceptance and it’s recent bullish momentum were taken into great consideration while making this decision.

Thumzup Embraces Bitcoin

A social media marketing firm, Thumzup Media Corporation just recently announced to make their treasury diverse by diving deep into the crypto space. Their initial plan includes purchasing up to $1M in Bitcoin. As CEO himself explained, The inflation resistant and finite supply characteristics of Bitcoin really caught their eyes and the company views it as critical advantage for a long-term store of value.

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A Growing Trend in Treasury Assets

Thumzup isn’t the only particular company to do this, recently larger and larger trend of companies are embracing Bitcoin as a reserve asset more than a liability. Just few days ago Pennsylvania’s Bitcoin Strategic Reserve Act also highlighted the increasing interest in integrating Bitcoin into tradFi as it serves as a valuable asset.

Aligning with a Digital Future

Thumzup now joins the group of cool companies which have integrated crypto into their business or in their firm for long-term profit and now people have started considering these companies as “forward-thinking business”. This move goes hand to hand with rising optimism from figures like Senator Cynthia Lummis, who is a crypto witch and envisioned Bitcoin playing a greater role in financial strategies nationwide.

Michael Saylor Predicts Bitcoin’s Rise to $100K Under Trump’s Pro-Crypto Administration

Summary: Widely known personality in crypto space, Michael Saylor says Bitcoin will hit $100,000 by the end of the year as he believes this run is fueled by President-elect Trump’s pro-crypto rules and the dominant presence of Republican in Congress. Saylor himself has a company which holds a massive number of BTC, to be exact the number is 279,420 and it attributes Bitcoin’s current rally to a great political shift for digital assets.

$100,000 Bitcoin by New Year’s Eve

Michael Saylor is very confident that BTC will hit $100,000 before the end of this year and he very happily says he’ll also organize a celebratory party at his home for this incident. He also strongly disagreed with people who still believe BTC will dip below $60k after this drastic surge by stating that BTC is still on a solid upward trajectory as it hit $93,400 following the U.S.CPI report.

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Political Tailwinds for Crypto

Michael Saylor give complete credit of this insane BTC surge to President-elect Donald Trump and Republican-led Congress. He even goes so far and calls this the “biggest thing for Bitcoin” in years. He doesn’t stay put on present but also predicts a wave of pro-crypto policies and frameworks that will strengthen the digital asset industry.

MicroStrategy Double Down

MicroStrategy with a strong base and strategy for future increased its BTC holdings to 279,420 tokens, investing an absurd additional amount of $2.03 billion. Saylor still remains positive about the bullish momentum of Bitcoin, majorly speaking about its leadership in the ongoing crypto market, which has contributed so much to the lifting of altcoins like Ethereum, Solana and meme coins.

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Prosper Secures Funding from BIT mining for Bitcoin Mining Protocol

Summary: BIT Mining has invested on a Decentralized Bitcoin mining protocol named Prosper. This is done with the aim of advancing its mission to give institutional-grade mining energy and liquidity farming. This isn’t the first investment announced on Nov. 14 but is the second in two weeks. This investment is following backing from Waterdrip Capital. This exciting news has surged the price of Prosper’s native token, PROS by 7%.

Strategic Investment from BIT Mining

BIT Mining has donated a strategic investment to Prosper, which is famously known for giving out hashrate-backed tokens linked to Bitcoin mining power which is truly a positive steps towards better crypto ecosystem. Prosper and its team knows how important this investment is and sees this as a significant endorsement of its vision to bridge Bitcoin mining to blockchain.

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A Growing List of Investors

Prosper got it’s first investment from Waterdrip Capital which is a capital firm in the blockchain space and BIT Mining’s the second investment. This sudden increase of institutional support has surged Prosper’s token, PROS to $0.52 following the most recent investment.

Future Benefits for Token Holders

If we are to look ahead in the distant future, Prosper needs PROS token holders to engage themselves in protocol governance through either voting for BNB Chain or Ethereum. The participants won’t return home empty handed as, those who participate will be eligible for unique and exciting staking rewards, moreover boosting Prosper’s appeal to long-term investors.

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Bhutan Sells $33M in Bitcoin Amid Price Surge

Bhutan has just sold $33.5M worth of Bitcoin at its peak price, this added to the previously sold $66M overall becomes $100M and this is just the data of this month. Well, even after this the country still holds 12,206 BTC, that totals about $1.11B. Bhutan mines bitcoins using its epic hydro power. Their strategic moves are inspiring other nations, with talks of a U.S. “Strategic Bitcoin Reserve” gaining major buzz.

The kingdom of Bhutan has just recently sold about  367 Bitcoin, worth around $33.5 million, through Binance. Arkham Intelligence says that the transfer took place exactly  at 12:06 a.m. UTC. Bitcoin’s price was high, above $90,000 at that time. Two weeks earlier Bhutan had sold  $66 million worth of Bitcoin, that time it was just $70K which is still lot but after the elections BTC has really surged like never seen before.

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Overall Bhutan still has about 12,206 BTC, considering current price that amounts to about $1.11 billion. These Bitcoins holdings are managed by Druk Holding & Investments. Bhutan seems to sell them strategically so as to make as much profit possible. The recent rally of Bitcoin was the right moment for them to sell out some of the BTC and hence profit is all theirs.

Conclusion

Bhutan’s killing it as the 5th biggest Bitcoin-holding government, leveraging its hydro power energy source instead of seizures to mine BTC. Their high sell-strategy is attracting every major global organizations. Even the US. is thinking of creating a “Strategic Bitcoin Reserve” with recent buzz from Trump and Senator Lummis.

Pennsylvania Looks to Build Bitcoin Reserve

Synopsis: A latest bill has been proposed to invest state funds in Bitcoin in Pennsylvania’s legislature which is being led by the one and only Mike Cabell. This Pennsylvania Bitcoin Strategic Reserve Act would allow the corresponding state to fight against rising and terrifying inflation by allocating a maximum of 10% of certain funds into Bitcoin. This initiative signals rising interest in crypto as a strategic asset across the great U.S.

State Pushes for Bitcoin Reserve

The latest legislative move done by Pennsylvania wants to make Bitcoin which is a booming cryptocurrency right now into a part of the state’s financial strategy. This idea planted by Representative Mike Cabell, the bill, now known as the Pennsylvania Bitcoin Strategic Reserve Act. This act this act of brilliance into the crypto space proposes investing up to just 10% of key state fund which also includes the Rainy Day Fund in Bitcoin. Cabell very boldly claims and strongly believes that Bitcoin is the future and could provide an economic buffer in difficult times.

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Bitcoin as a Safety Net

One of the current global problem includes inflation and U.S. is no different as inflation still remains a rising concern, Cabell in the mist of all this trouble suggests Bitcoin as a helping hand hoping to stabilize the state’s economy. Notable and reputed players like BlackRock and Fidelity continuously investing in Bitcoin offer a hint of the asset’s potential to diversify and bring hard resilience to portfolios.

National Shift Toward Crypto

This start from Pennsylvania goes hand to hand with a broader pro-Bitcoin sentiment across the United States right now. as the call for a national digital asset framework grows day by day. The bill came after Pennsylvania’s recent Bitcoin Rights legislation. which passed the House and showcases residents’ rights to securely hold digital assets.

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VanEck’s Sigel Projects Bitcoin Price Base Case of $180K for 2025

Briefly, Bitcoin shows no sign of stopping and still continues its strong bullish trend, with experts and analysts strongly expecting further and more gains in upcoming quarters. Matthew Sigel who’s head of digital assets of widely known VanEck shares his point of view of bitcoin having $180,000 base case price in 2025, citing pro-crypto policies and technical indicators, which to us mere mortal seems absurd.

Pro-Crypto Sentiment Boosts Bitcoin Outlook

Since Bitcoin managed to hit all-time high of over $90,000 and an outstanding performance of 115% gain, investors and even crypto enthusiasts have their interest peaked. VanEck’s Sigel in his recent CNBC interview had only positive things to say about current Bitcoin rampage. Sigel not only had positive things to say about this Current raid boss of cryptocurrency i.e. Bitcoin, but he went ahead and stated that he and his firm expects Bitcoin’s price to continue to break all limit with a base projection of $180,000 for 2025.

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Analyst Predictions Mixed Amid Bullish Signals

Even though Bitcoin seems to be on a rampage right now with nothing to stop its advance some analysts are still skeptical and don’t seem to believe the data provided by Polymarket which suggests a 56% chance of bitcoin reaching $100,000. However, Critical Analyst might be somewhat correct because we’ve also covered similar topic of Bitcoin and Ethereum being overbought which could potentially cause a short term decline.

UK Unveils Crypto Regulations to Rival US Leadership in Blockchain

United Kingdom just came up with new rules this month, focusing more on stablecoins and staking. This act is all to stay relevant with Trump’s pro Bitcoin US. Some delays have put them behind but there is still a shot to lead if they move fast enough. Clear regs = more crypto startups staying in the UK.

UK government is planning to introduce new crypto regulations this month to reassure businesses and especially to compete with Donald Trump’s sharp progress in crypto firms with a clear stance on the sector. A report says, UK treasury will reveal two pieces of legislation which are primarily focused on stablecoins and its staking services.

Read more about Bitcoin: Bitcoin Trading Volume Reaches All-Time High on Retail Demand

The major step up by UK comes with new crypto rules for stablecoins and staking to keep up with Trump’s crypto-friendly US and the EU. Stablecoins will get industry input on rules, and staking won’t face heavy regulations anymore. There are delays however, that have put the UK behind, but there’s chance for bounce back as there’s plenty left for them but they must act fast. With newly elected president Trump hyping up Bitcoin reserves and mining, United Kingdom needs clear and chill regulations to keep crypto status from bouncing.

Bitcoin Trading Volume Reaches All-Time High on Retail Demand

In short, After the recent U.S. election results, Bitcoin reached it’s all-time high and hit a record-breaking trading volume of $170 billion as retail interest increased. Following the promises made by Donald Trump to establish a crypto-friendly environment in the United States, retail excitement around bitcoin.

Record Volume and Price Surge

Trading volume of Bitcoin crossed over $145 billion in just past 24 hours, marking an all-time high and exceeding prior peaks seen earlier this year. According to the date provided by Coingecko, Bitcoin’s volume continued to grow and for a short period of time crossed $170 billion as it hit a new price record of $91,900

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Trump’s Win Spurs Retail Interest in Bitcoin

Matrixport analysts attribute the volume spike to increased retail interest following trump’s win, as his pro-crypto stance promises potential shifts in the U.S. regulatory landscape. Trump’s aim include creation of Strategic Bitcoin Reserve, making U.S. “crypto capital” and if possible replacing SEC Chair Gary Gensler.

Public and Institutional Interest Soars

Not only market value of bitcoin rose but also it’s popularity, since google searches for Bitcoin rose to five-year high, up to 78% reflection widespread interest. That’s not all because spot Bitcoin ETFs also saw inflows of over $4.2 billion, helping drive the cryptocurrency’s recent rally. Based on Matrixport’s analysis, retail-driven trading volume could sustain Bitcoin’s momentum for weeks or even months.

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Crypto Market Sees $650 Million in Liquidations as BTC and ETH Enter Overbought Zone

In short, the crypto market has experienced a steep increase in volatility over the past 24 hours, with total liquidations reaching $650 million. This has caused Bitcoin and Ethereum to reach overbought zone, signaling a potential market cooldown.

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Crypto Liquidations

Liquidations Spike Amid High Volatility

Coinglass provides data that shows the total liquidation have surged 70% in a day, with total amount of $650 million — $366 million in long position and $284 million in short positions. Bitcoin and Ethereum being face of crypto market, among other major cryptocurrencies are showing signs of an overbought market, which may bring forth a cooldown in their recent bull run.

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Bitcoin and Ethereum in Overbought Zone

Bitcoin recently reached all time high of $89,600 with it’s RSI hitting 75, a level that indicates it may be overbought. Ethereum also saw similar activity and reached it’s peak $3,241 before experiencing a gradual decline with it’s RSI standing at 74. This unusual and shocking activity suggests potential short-term volatility.

Market Sentiment and Speculation

After Bitcoin and Ethereum hit their all-time high, Experts are on the side of the bull-run’s sustainability. Cameron Winklevoss believes that this market cycle is being driven by institutional investments rather than retail. On the other hand, CryptoQuant CEO Ki Young Ju warns that the future crypto market may be bearish and overheated for 2025.

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