[ad_1] South Korea’s National Pension Service (NPS) has purchased $34 million worth of shares in MicroStrategy, the business intelligence firm that has accumulated billions in Bitcoin.JUST IN: 🇰🇷 South Korean pension fund reports buying $34 million in MicroStrategy shares. pic.twitter.com/Sg5cRAkjzZ— Bitcoin Magazine (@BitcoinMagazine) August 16, 2024 According to a recent SEC filing, the NPS bought 24,500 MicroStrategy shares in the second quarter at an average price of $1,377. This translates to roughly 245,000 shares after MicroStrategy’s 10-for-1 stock split this month.As South Korea’s public pension fund, the NPS is the country’s largest institutional investor, with over $777 billion in assets.…
Author: dfrancis36
[ad_1] Ex-Goldman Sachs executive Raoul Pal is expressing bullish sentiment on a large-cap Ethereum (ETH) rival. In an interview with Wall Street veteran Anthony Scaramucci, Pal says that by the end of the current cycle, Solana (SOL) could explode to a price that’s “probably north of $1,000,” representing a potential gain of at least 604% from the current level. “I think the range for me is.. worst case is $800, mid case is like $1,200. Upper case in a blowoff top would be $2,500.” Solana is trading at $142 at time of writing. On whether Solana could outgrow Ethereum by…
[ad_1] In the latest episode of the podcast “The Bitcoin Layer,” Daniel Batten, a recognized advocate for Bitcoin, discussed the potential impact of sovereign wealth funds (SWFs) on the Bitcoin price, predicting a rise to over $148,000 per BTC should these funds decide to invest even a minimal fraction of their assets. With $35.7 trillion under management between SWFs and public pension funds, a 1% allocation could have a significant impact on Bitcoin’s valuation. Batten’s analysis hinges on the sheer scale of assets managed by SWFs and public pension funds, noting that even a fractional investment compared to their total…
[ad_1] While Ethereum hasn’t been quite consistent with its bullish trajectory in the past weeks, its circulating supply has done the opposite. According to data from Ultrasoundmoney, ETH’s circulating supply has skyrocketed to over 120.72 million ETH as of today. Although this increase in supply is not straightforwardly negative for ETH, it still marks a notable shift in the network’s dynamics, fuelled largely by adopting Ethereum’s proof-of-stake (PoS) model. Supply Increase, How And Why? The surge in Ethereum’s total supply to 120.72 million ETH, as shown in the data from Ultrasound.money, reflects the network’s increasing activity over the past month.…
[ad_1] On Thursday, Defiance Investments unveiled its new long-leveraged MicroStrategy ETF (MSTX) following Wednesday’s Securities and Exchange Commission (SEC) approval. The investment product aims to attract investors seeking long-leverage exposure to the largest cryptocurrency by market capitalization, Bitcoin (BTC). MSTX To Offer Leverage Exposure To Bitcoin Defiance revealed the first “single-stock long leveraged ETF for MicroStrategy,” the largest corporate holder of Bitcoin. The product seeks to provide 1.75 x (175%) long daily targeted exposure to the company’s stock, MSTR. Sylvia Jablonski, Defiance’s CEO, stated that the single-stock ETF aims to provide leverage exposure to “disruptive companies” without needing a margin…
[ad_1] Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he…
[ad_1] Bitcoin’s (BTC) price continues fluctuating within the $58,000 to $61,000 price range following its recovery from the ‘Black Monday’ crash. However, analysts remain unsure about the next step for the flagship cryptocurrency. Some market watchers suggest the key levels BTC must break to continue the bullish run, while others highlight signals that could indicate a timeline for the next leg up. Related Reading Analysts Unsure About BTC’s Next Move On August 5, the crypto market experienced a massive crash that shredded over 20% of most cryptocurrencies’ gains. Bitcoin led the market with a 22% decline from its monthly opening…
[ad_1] Demetris Taxitaris | MAP S. Platis | Executive Testimonials Demetris Taxitaris | MAP S. Platis | Executive Testimonials Demetris Taxitaris | MAP S. Platis | Executive Testimonials Demetris Taxitaris | MAP S. Platis | Executive Testimonials Demetris Taxitaris | MAP S. Platis | Executive Testimonials Demetris Taxitaris | MAP S. Platis | Executive Testimonials In this video, Demetris Taxitaris, CEO of MAP S. Platis, discusses the significant impact of the upcoming MiCA regulation on the European crypto industry. He explains how MiCA will revolutionize the industry by transitioning crypto exchanges from an unregulated environment to a fully regulated one,…
[ad_1] The entire crypto market might be witnessing a bearish sentiment, however, optimism around Solana seems to have generally increased as several crypto analyst expects a massive rally for SOL in the upcoming months. In the midst of heightened optimism toward Solana, market strategist and trader, Curbo delving into the recent price action of Solana has underscored a crucial requirement for the crypto asset to hit the pivotal $500 price level. Solana’s Next Price Target Could Be $400 And $500 Despite recent market fluctuation and volatility, Curbo is confident about Solana‘s potential in the long term as he anticipates a…
[ad_1] Bitcoin is trading for $59,545, a slight increase of 0.5% in the past 24 hours. Although little, this surge in its price is quite noteworthy as it comes against the backdrop of Bitcoin’s price plunging as low as $57,812 earlier today. Regardless of this modest recovery, a recent analysis by a CryptoQuant author on the CryptoQuant QuickTake platform has revealed that Bitcoin might now be approaching a precarious position. Bears At The Gates? Analyzing BTC’s Vulnerable Stance According to the CryptoQuant analyst Grizzly, Bitcoin’s Net Unrealized Profit/Loss (NUPL) metric—a tool used to gauge the market’s profit or loss status…