Bitcoin (BTC) has displayed a notable downturn, succumbing to pressures as it dropped by a significant 7% today, March 20. This downward spiral marks the second consecutive day of outflows for Bitcoin ETFs, with $326 million exiting the market, more than doubling the previous day’s figures. The BTC price decline
Crypto asset manager Grayscale’s chief executive officer Michael Sonnenshein has announced a fee reduction plan for the company’s flagship Bitcoin exchange-traded fund, the Grayscale Bitcoin Trust (GBTC). In a U-turn from defending its increased charges, Sonnenshein said that costs would decrease after GBTC outflows exceed $12 billion. According to Grayscale
For the years 2024–2025, the UK’s Financial Conduct Authority (FCA) has outlined its primary objectives. Improving the regulator’s ability to detect and punish instances of market abuse is a priority. It also intends to establish regulations for the market misuse of crypto assets and associated services. Market integrity and the
Bit Digital, a Bitcoin mining company, has reported profits of $44.9 million for 2023, an increase of 39% compared to 2022. According to Bit Digital, their earnings for 2023 were 1,507.3 BTC, up 21% from the previous year. At the current market pricing, the mining firm’s stated quantity of Bitcoin
Following MicroStrategy’s most recent Bitcoin purchase, prominent gold investor and crypto skeptic Peter Schiff openly criticized CEO Michael Saylor. An additional 9,245 Bitcoins were purchased by MicroStrategy for around $623 million, according to Saylor. A total of 214,246 Bitcoins, valued at $35,160 apiece, are now in the company’s possession as
In order to provide DeFi liquidity to the Bitcoin ecosystem, Bitcoin liquidity protocol Velar has announced the introduction of Dharma, an Automated Market Maker (AMM). Dharma, which is scheduled to launch on Bitcoin L2 Stacks on March 19, will increase the network’s DeFi capabilities. Token pairings may now be completely traded onchain
With the closing of its offering of 0.875% convertible senior notes due in 2031 on March 18, 2024, MicroStrategy purchased another 9,245 BTC. The firm’s overall Bitcoin holdings have increased to 214,246 BTC, representing 1% of the 21 billion total Bitcoin supply, thanks to this substantial accumulation. As the news
In a rollercoaster turn of events, the cryptocurrency market witnessed a significant downturn today, sending shockwaves through the community of enthusiasts and investors alike. As the dust settles, traders are split between panic and opportunity, with some seeing the market crash as a chance to “buy the dip.” The overall
Cryptocurrencies’ price estimates for 2024 and 2025 were updated on Monday by banking behemoth Standard Chartered. Bitcoin will likely reach $150,000 by year’s end, according to Standard Chartered, and $250,000 in 2025. In addition, the bank anticipates that the price of Ethereum (ETH) will hit $8,000 upon approval of a
In order to be eligible for $3 billion in bailout money, the International Monetary Fund (IMF) has mandated that the Federal Board of Revenue (FBR) of Pakistan impose a Capital Gains Tax (CGT) on investments in cryptocurrencies. The IMF suggested that Pakistan’s FBR tax cryptocurrency capital gains during the review
