The cryptocurrency world is buzzing with significant news! Hong Kong-based family office Avenir Group has made a groundbreaking move, disclosing a massive $1.01 billion holding in BlackRock’s spot Bitcoin ETF (IBIT). This substantial investment underscores a powerful trend: the accelerating institutional Bitcoin adoption within the global financial landscape. It’s a clear signal that major players
Since Aug. 10, following a string of four 100 BTC transactions from 2012, nearly 1,800 BTC—worth over $212 million—has moved for the first time in years over the past four days. Old-School Bitcoin Stashes Continue to Wake After our report on 400 BTC shifting from separate bitcoin addresses first established in 2012, another similar transaction
Velo Protocol, a popular web3-based financial ecosystem, has recently announced a strategic alliance with Digital Pilipinas, a leading private sector organization in the Philippines working towards the country’s digitalization. This timely partnership, when the Philippine government is pushing for a digital-first economy, is a major step ahead in accelerating the adoption of digital and blockchain-based
Story Highlights Senator Cynthia Lummis said the country can revalue its gold reserves to buy Bitcoins. Bessent noted on Thursday that the country holds between $15B and $20B in Bitcoin. The BTC/USD pair is on the cusp of a parabolic rally fueled by a major supply vs demand shock. Scott Bessent, the current U.S. Treasury
Wall Street giant Citigroup is weighing plans to offer cryptocurrency custody and payment services, aiming to capitalize on a market bolstered by Trump-era regulatory approvals and pro-industry legislation. Biswarup Chatterjee, a Citigroup executive, told Reuters that the bank’s initial focus would likely be custody services for “high-quality assets backing stablecoins.” Chatterjee works within Citigroup’s services
US Treasury Secretary Scott Bessent announced on social media platform X that Bitcoins permanently transferred to the federal government will form the basis of the Strategic Bitcoin Reserve, established by President Donald Trump’s executive order in March. Bessent stated that the Treasury is committed to exploring options for acquiring more Bitcoin through budget-neutral means, aiming
Strategy, formerly MicroStrategy, misrepresented its business to investors when measuring itself against S&P 500 firms last month, according to Damped Spring Advisors CEO and CIO Andy Constan. It is “100% fraudulent” that the Bitcoin-buying firm compared its price-to-earnings ratio to the likes of Apple and NVIDIA on a slide during its second-quarter earnings presentation, the