The Bitcoin Briefing, 14 November
ATH after ATH after ATH. What a week for Bitcoin!
Bitcoin Market News
Bitcoin Surges Past $90k Sealing Status as Institutional Treasury Asset
According to QCP Capital, as Bitcoin surpassed $90,000, it has solidified its status as an institutional treasury asset. Post-election, Bitcoin's popularity surged among institutions, though miners and leveraged traders triggered profit-taking. Technical indicators remain strong, but resistance levels suggest cautious optimism.
Crypto Comeback: Are Surging Prices Here to Stay?
Cryptocurrencies made a strong recovery after a significant drop, with Bitcoin and Ethereum leading the surge. Factors like institutional investments, PayPal's crypto integration, and global economic uncertainty have fuelled optimism. However, analysts are cautious, suggesting that market volatility could continue and that these gains may not be fully sustainable.
MicroStrategy Stock Hits ATH After $2B Bitcoin Purchase
MicroStrategy’s stock recently surged 30%, reaching a new all-time high of over $351 as the company’s significant Bitcoin acquisition and rising Bitcoin prices bolster investor confidence. The company now holds a $70.26 billion market cap and a 30-day average trading volume of 20.47 million shares. MicroStrategy recently purchased a further 27,200 Bitcoins for approximately $2 billion, bringing its total Bitcoin holdings to 279,420 BTC, valued at $24.3 billion.
US CPI Up 0.2% in October in Further Boost to Bitcoin
US inflation data for October matched economist estimates, sending Bitcoin back towards the $90,000 level. The Consumer Price Index (CPI) rose 0.2% in October versus forecasts for 0.2% and a 0.2% rise in September, according to a government report on Wednesday morning. Core CPI – which excludes more volatile food and energy costs – rose 0.3% in October versus estimates for 0.3% and 0.3% in August. The price of bitcoin (BTC) gained following the numbers to $89,500. It remains higher by nearly 30% over the past week.
Bitcoin Trends
PlanB’s Bitcoin Price Roadmap To $1m Starts Playing Out
Recent Bitcoin events and timelines were accurately predicted by PlanB, a popular crypto analyst. According to a social media post in September, these predictions were merely the beginning of a more extensive roadmap that could ultimately lead to Bitcoin reaching $1 million in 2025.
Deutsche Telekom Launches Bitcoin Mining Pilot to Balance Germany's Power Grid
Europe's largest telecommunications provider is launching a Bitcoin mining pilot called 'Digital Monetary Photosynthesis'. Deutsche Telekom’s subsidiary MMS developed the project in collaboration with Bankhaus Metzler. The project aims to provide data for stabilising Germany's energy grids.
DoJ Seeks $16m In Crypto Assets Tied To FTX Bribery Case
The US Department of Justice (DOJ) has filed a civil forfeiture complaint to seize approximately $16 million in cryptocurrency held in a Binance account. The action follows a year-long investigation into funds allegedly linked to bribes authorized by Sam Bankman-Fried, former CEO of the defunct crypto exchange FTX. Court documents detail that the funds in question include tokens such as Internet Computer ICP/USD, Avalanche (AVAX), Ripple XRP/USD, Cardano ADA/USD and Solana SOL/USD, all believed to stem from illicit transactions.
Here's the BTC Price to Watch, According to Robert Kiyosaki
Robert Kiyosaki, author of the financial classic Rich Dad Poor Dad, has shared his guidance on investing in Bitcoin, including advice on when to stop accumulating the crypto. Rich Dad Poor Dad, a 1997 book co-authored by Kiyosaki and Sharon Lechter, has earned global acclaim, spending over six years on the New York Times Best Seller list. “I will keep buying more bitcoin till it passes $100,000. Then I will stop. Not a time to get greedy.”, he said in a recent post.
Bit of Bitcoin fun
Seven Wild Moments From The Turbulent Story Of Bitcoin
Following Donald Trump's win in the 2024 U.S. election and the ‘Trump Pump’, we follow the highlights of Bitcoin’s turbulent journey, including the mystery around its creator, its historic pizza purchase, adoption in El Salvador, mining booms and busts, notorious fraud cases, and new investment interest from major banks.
