Famed British cypherpunk Adam Back has opined that Bitcoin’s market cap should be around $200 trillion. The prediction is, of course, seemingly unrealistic given that the S&P 500, which represents the 500 largest US companies combined, is worth $40 trillion. It accounts for around 40% of the global stock market. Gold, the main safe-haven asset,
In a move that has captured the attention of the cryptocurrency world, South Korea-based metaverse platform Bitmax has announced a dramatic increase in its Bitcoin holdings. Since the start of the year, the company’s BTC reserves have surged nearly sevenfold, now standing at approximately 349.19 BTC, according to recent reports from Newsis. This impressive accumulation
On Friday, July 4th, the crypto market experienced a sudden sell-off following a 2% intraday loss in the pioneer cryptocurrency, Bitcoin. This selling pressure can be attributed to market speculation and uncertainty, as some OG Bitcoin whales moved a substantial 80,000 BTC after being dormant for 14.3 years. Despite sentiment pressure, this downtick invalidated a
In a move that signals a growing confidence in the digital asset space, Nasdaq-listed Hilbert Group, a prominent digital asset investment firm, has announced a groundbreaking strategic crypto treasury plan. This bold initiative designates Bitcoin (BTC) as its primary reserve asset, marking a significant step for institutional adoption within the cryptocurrency landscape. What does this
Bitcoin (BTC) retreated to $107,000 levels despite the inflation data announced yesterday that came in below expectations. While investors are wondering which direction Bitcoin and cryptocurrencies will go, data on the US Producer Price Index (PPI) was announced today. The data disclosed is as follows: Core Producer Price Index (Monthly): Announced 0.1% – Expected 0.3%