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Tag Archives: Bitcoin News

Bitcoin Price Reacts Positively with 5% Increase as BlackRock Nears ETF Deal

BlackRock has agreed to exclude in-kind creations and redemptions from its ETF application. The Bitcoin price has responded positively to this news. Of the many companies that have been pegged to secure a Bitcoin ETF approval in the United States, BlackRock seems to be the one with the best chance. From individual investors to the crypto market as a whole, everyone seems convinced that BlackRock will make history with the ETF by next year. The company has scored another coup in this...

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Bitcoin Miner Hut 8 Agrees to Build New Site for Celsius Creditors

The deal with Hut 8 comes after Celsius recently obtained approval from the bankruptcy court to transition into a Bitcoin mining entity that creditors will solely operate.  Bitcoin (BTC) mining company Hut 8 has entered into an interim agreement with the bankrupt crypto lender Celsius Network to construct and deploy new mining operations in Cedarvale, Texas. This collaboration is a key component of Celsius’s ongoing bankruptcy proceedings, designed to foster positive relations with its...

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OKX Surges Ahead of OpenSea and Blur in NFT Race Thanks to Bitcoin Ordinals

OKX strategically positioned itself to ride the Ordinals wave, seizing the NFT crown amid exploding interest in Bitcoin-based creative assets. Cryptocurrency trading platform OKX has raced ahead of rivals to become the top marketplace for non-fungible tokens (NFT), recording over $50 million in daily NFT trading volume compared to $13 million on Blur and $3 million on OpenSea. This surge centers around Ordinals – unique NFTs built on the Bitcoin blockchain that have recently taken the...

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Crypto Was Institutionalized in 2023, Says Goldman Sachs

According to a recent report from Goldman Sachs, 2023 saw significant institutional support for the crypto industry, especially for derivatives trading. For as long as the crypto industry has existed, it has pursued institutional support. Considering the fact that the crypto industry operated on the fringes of the mainstream financial world for so many years, institutional support would mean both more financial benefits and public validation. Well, according to Goldman Sachs, 2023 saw...

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Franklin Templeton Believes Every National Treasury Will Hold Bitcoin

The head of Franklin Templeton’s digital asset and industry advisory services sees ongoing adoption of BTC by nation-states and emphasizes its potential to surpass CBDCs in efficiency for national treasuries. A strategist from Franklin Templeton, a global investment firm, predicts a future where every national treasury holds Bitcoin (BTC), envisioning the cryptocurrency becoming the fundamental unit of trade. Sandy Kaul, the head of Franklin Templeton’s digital asset and industry advisory...

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Crypto Stocks Down during Pre-market Hours as BTC Price Drops to $41K

With the Bitcoin mining landscape gaining steam, the competition is heating up and the most positioned miners will be the biggest beneficiaries moving forward. Today the price of Bitcoin (BTC) is down. The major crypto asset is treading below $41,000 this morning. The main crypto stocks in the pre-market are also in the red zone. Coinbase Global Inc (NASDAQ: COIN) is down 3% and is trading at around $143. MicroStrategy Inc (NASDAQ: MSTR) stock is down over 3%, trading at $551. Marathon...

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Ordinals-based Tap Protocol Raises $4.2M to Advance Bitcoin Adoption

Tap Protocol seeks to continue building new Bitcoin applications, ranging from fractionalization of Ordinals art and token functions for gaming applications.  Trac Systems, a German-based company and the parent entity of Tap Protocol, recently announced the completion of a funding round where it pulled the sum of $4.2 million from investors. The funding round was led by Sora Ventures and the capital raised is earmarked for the continued development of the company’s initiatives,...

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Is El Salvador’s Bitcoin Push Working after BTC Visa Bonds?

Critics argue that El Salvador’s Bitcoin experiment was premature, highlighting the country’s struggles in achieving the ‘Bitcoinization’ of its economy. El Salvador’s foray into the crypto market has been nothing short of controversial, marked by a $117.5 million Bitcoin (BTC) investment that recently pitched on the edge of profitability. President Nayib Bukele’s persistence in the face of international criticism, including opposition from the International Monetary Fund (IMF), raises...

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Bitcoin to Be Measured at Fair Value in US Under New FASB Rules

The crypto market responded positively to the FASB announcement, with Bitcoin’s price rising over 4.12% to $42,979 following the guidance release. The Financial Accounting Standards Board (FASB), the US entity responsible for detailing how companies report assets on their balance sheets, has introduced new standards allowing corporations to measure Bitcoin (BTC) and other crypto assets at fair value. FASB’s Shift Towards Fair Value Measurement This marks a departure from the previous...

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Bitwise’s Spot Bitcoin ETF Listed on DTCC Under BITB Ticker

DTCC data shows that the Wise Origin Bitcoin FD SHS is listed under the ticker BITB. Bitwise joins BlackRock, Invesco Galaxy, and Fidelity on the DTCC’s list.  Bitwise Asset Management has listed its spot Bitcoin exchange-traded fund (ETF) on the Depository Trust and Clearing Corporation (DTCC). This comes after Fidelity Investments listed its FBTC spot Bitcoin ETF on the DTCC’s active and prelaunch list last week. Bitwise’s move is evidence of the firm’s confidence that a spot Bitcoin ETF...

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