Grayscale launches Dogecoin investment fund
Grayscale Investments has unveiled a dedicated investment fund for Dogecoin, the leading memecoin by market capitalization, the asset manager announced on January 31. The Grayscale Dogecoin Trust provides institutional investors with exposure to Dogecoin, which is described as “the native asset of the Dogecoin blockchain, an open-source, peer-to-peer digital currency originally forked from Litecoin, which […]
Bitcoin ETFs Exceed $125B as BlackRock’s IBIT Climbs to 31st Globally
The market for US spot Bitcoin exchange-traded funds (ETFs) has hit a remarkable milestone, signaling increasing institutional interest in the leading cryptocurrency. As of January 30, these ETFs collectively hold over $125 billion worth of Bitcoin, representing approximately 6.05% of the total BTC supply, according to data from Dune Analytics. This achievement comes just a […]
Bitcoin’s February Surge Depends on Upcoming Labor Market Data
Bitcoin’s price trajectory in February could be heavily influenced by an upcoming US labor market report, which may shape investor sentiment as March approaches. The US Bureau of Labor Statistics is scheduled to release its latest labor market data on February 7. According to Ryan Lee, chief analyst at Bitget Research, the findings could play […]
BTC Hits $106K as Weak US GDP Fuels Bitcoin Rally
Bitcoin remained resilient at $105,000 during the Wall Street open on Jan. 30, as the latest U.S. GDP figures for Q4 fell short of projections, sparking renewed optimism in the crypto market. Market data from TradingView showed BTC/USD climbing 2% on the day, maintaining its upward momentum despite macroeconomic uncertainty. The U.S. economy’s Q4 GDP […]
World’s Largest Sovereign Wealth Fund Boosts Indirect Bitcoin Exposure by 153%
Norway’s sovereign wealth fund, overseen by Norges Bank Investment Management (NBIM), has significantly increased its indirect exposure to Bitcoin by investing in a diverse range of crypto-friendly companies. Research from K33 indicates that by the end of 2024, NBIM’s Bitcoin exposure—through indirect holdings—had risen to 3,821 BTC, valued at approximately $356 million. This marks an […]
ECB President ‘Certain’ Bitcoin Won’t Be Added to Central Bank Reserves
Christine Lagarde, President of the European Central Bank (ECB), has expressed skepticism over the potential of Bitcoin being adopted as a reserve asset by central banks, including the Czech National Bank (CNB), following discussions with its governor. During a press briefing on January 30, Lagarde reaffirmed the ECB’s stance that central bank reserves should be […]
Fed Chair Urges Congress to Act on Crypto Regulations
Federal Reserve Chair Jerome Powell addressed concerns about cryptocurrency regulation following the central bank’s decision to keep interest rates unchanged in the United States. During a press conference on January 29, after the Federal Open Market Committee (FOMC) meeting, Powell stated that banks were permitted to serve crypto-related clients as long as they appropriately managed […]
Tesla Reports $600M Bitcoin Profit in Q4 Under New Accounting Rule
Tesla saw a significant boost to its fourth-quarter earnings, reporting a $600 million gain from its Bitcoin holdings, thanks to updated accounting standards that now allow companies to reflect the market value of digital assets in their financial statements. In its Q4 2024 earnings report released on Jan. 29, Tesla revealed that its Bitcoin stash […]
Bitcoin Soars to $104.7K as Fed FOMC Decision Matches Market Forecasts
Bitcoin’s price experienced an upward surge following the Federal Open Market Committee’s (FOMC) decision to maintain interest rates within the 4.25% to 4.5% range, aligning with market expectations. While Federal Reserve Chair Jerome Powell acknowledged that inflation remains “somewhat elevated,” the central bank opted for a cautious stance, keeping its future policy options open as […]
Bitcoin’s Bull Market Yet to Show Signs of FOMO
Fresh analysis indicates that new Bitcoin investors are not signaling that a bull market peak is imminent. On January 28, CryptoQuant, an onchain analytics provider, shared insights in a blog post highlighting that participation from new market entrants has not reached “extreme levels” typically associated with market tops. No Indicators of a Cycle Top Yet […]