Author: Dren.H

Content Writer | Researcher | Crypto Enthusiast

Bitcoin hits a new high; millionaire wallet growth lags amid cautious investor sentiment and surging miner profits. Bitcoin, the leading cryptocurrency, has recently outperformed its previous highest price point, reaching a remarkable $72,000. This milestone marks a significant moment in the digital currency’s journey, reflecting growing investor confidence and market strength. However, an intriguing trend has emerged alongside Bitcoin’s price surge: the growth in the number of new Bitcoin millionaire wallets is progressing at a slower pace compared to previous bull markets. Data from Kaiko Research reveals a moderate increase in the creation of new Bitcoin wallets holding assets valued…

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CoinShares acquires Valkyrie ETF business, boosting assets to $7.3 billion and expanding U.S. market presence. In a strategic move that shows its commitment to growth, especially in the U.S. market, CoinShares has successfully acquired the exchange-traded funds (ETF) business of Valkyrie Funds. This acquisition not only enhances CoinShares’ assets under management (AUM) but also marks a significant milestone in its expansion strategy, particularly within the United States. With this latest development, CoinShares’ global AUM has surged to an impressive $7.3 billion. Strategic Growth The acquisition includes the sponsor rights to Valkyrie’s spot Bitcoin ETFs and its investment advisory division, Valkyrie…

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Ethereum ETF approval odds drop as SEC silence persists, according to Bloomberg analyst Eric Balchunas. The possibility of the U.S. Securities and Exchange Commission (SEC) approving an Ethereum ETF is looking increasingly unlikely, according to Eric Balchunas, a leading Bloomberg ETF analyst. With each day that passes without a word from the SEC, the dream of Ethereum enthusiasts and potential fund issuers for an ETF approval by May seems to fade further away. Silence from the SEC Balchunas, expressed his concerns about the lack of communication from the SEC. This silence is particularly alarming as the deadline approaches, now just…

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El Salvador profits $85M from Bitcoin, showcasing President Bukele’s successful crypto strategy amid a price rally. El Salvador Bitcoin investment strategy, championed by President Nayib Bukele, has propelled the country into an $85 million profit. This surge comes amidst a Bitcoin price rally, pushing its value beyond the $72,000 mark, a record high as of March 11. El Salvador’s venture into Bitcoin, starting in September 2021 by legalizing it as tender and purchasing 200 coins at $51,769 each, initially faced skepticism. Critics pointed fingers as the value plummeted from a high of $69,000 in November 2021 to a low of…

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Michael Saylor views Bitcoin as a digital asset for long-term wealth preservation, not just a currency. Bitcoin has been a topic of heated debates and speculative investment strategies. Michael Saylor, the chairman of MicroStrategy, presents an intriguing perspective on Bitcoin, suggesting a shift in how we perceive this digital asset. Instead of viewing Bitcoin as a traditional currency, Saylor proposes that we consider it akin to a monumental edifice in the virtual world. This concept offers a fresh viewpoint on Bitcoin, positioning it as a cornerstone of digital property rather than a mere transactional tool. Rethinking Bitcoin’s Role The essence…

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Grayscale files for a new, tax-efficient ‘mini’ Bitcoin ETF amid record-breaking crypto market highs. In a recent move, Grayscale Investments has initiated the process of introducing a new compact version of its Grayscale Bitcoin Trust (GBTC), aptly naming the ETF under the ticker symbol “$BTC.” This action comes as Grayscale presented an S-1 form to the U.S. Securities and Exchange Commission (SEC) on March 11, signaling a significant step toward diversifying its investment offerings. If the SEC approves, the fund could debut on the New York Stock Exchange, marking its independence from the flagship GBTC fund. The essence of this…

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BlockGames airdrop farming campaign on Crypto Twitter aims to replicate Portal’s success with its upcoming BLOCK token launch. BlockGames has emerged as a formidable contender, launching an airdrop farming campaign reminiscent of the successful Portal token initiative earlier this year. This strategy, aimed at promoting the upcoming BLOCK token, has taken Crypto Twitter by storm, fostering an environment of relentless engagement and promotion among users. BlockGames, a platform that merges mobile gaming with cryptocurrency, introduced its BLOCK airdrop farming campaign last Friday. The campaign aims to motivate users to actively share information about the platform across social media platforms, especially…

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February saw increased VC investments in crypto startups, signaling growing confidence and diversity in the sector’s funding landscape. February witnessed a notable resurgence in venture capital (VC) investments within the cryptocurrency sector. This change marks a significant moment, as it’s the first increase in VC funding for crypto startups since March 2022. According to a comprehensive report from PitchBook, the closing quarter of 2023 saw crypto startups securing $1.9 billion in investments, showing a modest growth of 2.5% from the previous quarter. This uptick aligns with the burgeoning investor confidence in early 2024, especially following the approval of spot Bitcoin…

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UK to expand authority to seize crypto assets without conviction starting April 26 to combat economic crimes. In an attempt to bolster its fight against economic crimes involving cryptocurrencies, the UK government has announced an update to its legislation that will empower law enforcement agencies with broader authority to seize crypto assets linked to criminal activities. Starting April 26, the Economic Crime and Corporate Transparency Act 2023 will undergo amendments to facilitate the confiscation of cryptocurrencies without the need for a prior conviction. This legislative update marks a pivotal shift in the UK’s approach to combating cybercrime, scams, and drug…

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The Wall Street Journal (WSJ) sued for defamation over false allegations in a 2023 article about Tether-Bitfinex. The Wall Street Journal (WSJ), a longstanding pillar in financial journalism, finds itself at the heart of a legal storm. A defamation lawsuit has been lodged against its parent company, Dow Jones & Company, following a controversial article that implicated crypto entities Tether and Bitfinex in illegal activities. This legal action, filed in the Delaware Superior Court by Christopher Harborne and his firm AML Global Ltd on February 28, underscores the escalating tension between traditional media and the burgeoning cryptocurrency sector. Christopher Harborne,…

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