Bitcoin

Analysts warn MicroStrategy’s plan to fuel Bitcoin buys with debt could backfire

MicroStrategy could raise as much as $600 million from its latest convertible debt offering to purchase more Bitcoin. However, JPMorgan analysts have reportedly cautioned that the firm’s reliance on debt to purchase Bitcoin could exacerbate a market downturn. The firm, led by BTC advocate Michael Saylor, has acquired over 15,000 BTC worth nearly $1 billion […]
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Cryptocurrency

El Salvador receives Bitcoin donation after revealing on-chain address

El Salvador received Bitcoin donations after President Nayib Bukele shared the Central American country’s digital wallet address with the public. In a March 14 post on social media platform X (formerly Twitter), Bukele revealed that the country transferred “a big chunk of our Bitcoin to a cold wallet and stored that cold wallet in a […]
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Cryptocurrency

US senators push SEC to reject other crypto ETF proposals, casting doubt on Ethereum ETF approval chances

The chances of approval for the pending spot Ethereum exchange-traded fund (ETF) applications this May are strained as two US Senators urged the Securities and Exchange Commission (SEC) to reject other crypto ETF proposals. In the March 11 letter to SEC Chair Gary Gensler, Senators Jack Reed and Laphonza Butler advised the financial regulator to […]
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Cryptocurrency

Open interest reaches all-time high as Bitcoin touches $72k

Bitcoin setting a new all-time high and breaking above $72,000 is a significant milestone for the market. Riding the wave of increased institutional interest in spot Bitcoin ETFs, it smashed through the $68,000 ceiling established in November 2021 after a brief correction to $59,000 and seems to be gearing up for more gains this week. […]
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Cryptocurrency