Altcoin News by Thebittimes.Com

Michael Saylor founded MicroStrategy has bought 6,067 Bitcoin since the start of the third quarter. Business intelligence firm MicroStrategy has notched a paper gain of $900 million on its stack of 158,400 Bitcoin, spurred by optimism over the potential approval of spot Bitcoin exchange-traded funds. The Michael Saylor-founded firm added 6,067 Bitcoin (BTC) since the third quarter, including another 155 in October, according to MicroStrategy’s Nov. 1 results filing. In October, @MicroStrategy acquired an additional 155 BTC for $5.3 million and now holds 158,400 BTC. Please join us at 5pm ET as we discuss our Q3 2023 financial results and answer questions about the outlook for #BusinessIntelligence and #Bitcoin. $MSTR https://t.co/w7eRUcGobi — Michael Saylor️ (@saylor) November 1, 2023 MicroStrategy’s CEO Phong Le said the firm isn’t shying away from its Bitcoin strategy any time soon. “Our commitment to acquire and hold bitcoin remains strong, especially with the promising backdrop ...

Thailand's second-largest lender by assets, Kasikornbank, is moving into crypto by acquiring a majority stake in the local crypto business Satang. Thailand’s Kasikornbank, one of the largest banks in the country, is moving into the crypto currency industry by acquiring a majority stake in the local crypto business Satang. Kasikornbank, also known as KBank, acquired 97% of shares in the operator of Thailand’s Satang crypto exchange, according to an announcement published on Oct. 30 on the website of the Stock Exchange of Thailand (SET). According to Kasikornbank, the acquisition is valued at 3.7 billion Thai baht, or around $103 million. The transaction is being made through K-Bank's new subsidiary called Unita Capital, which is focused on investment in the digital asset industry, the statement notes. Following the acquisition, Satang Corporation is set to change its name to Orbix Trade Company Limited. Kasikornbank’s crypto business will have three divisions, including th...

Marcel Pechman explains whether real estate or Bitcoin is a better store of value and breaks down Instacart’s current valuation and why investors may want an alternate investment. On this week’s episode of Macro Markets , Cointelegraph analyst Marcel Pechman discusses the real estate markets, highlighting stagnant mortgage demand, attributed to rising rates. With an average 30-year fixed-rate mortgage interest rate of 7.27%, refinancing and home purchase applications have dropped significantly. Still, Pechman speculates that house prices might rise if inflation continues to grow. While some sellers may be distressed, real estate , especially urban residential, has historically been a reliable store of value. He concludes by highlighting that other investment options may not provide a safer haven in the current economic climate. In the second segment, Pechman discusses Instacart’s initial public offering, which established its valuation at roughly $10 billion, significantly lower tha...

Digital securities firm Securitize will provide new alternative assets to major cryptocurrency firms like WisdomTree and Valkyrie Invest. Tokenized asset firm Securitize continues expanding investor access to private market alternative assets with the acquisition of the crypto currency fund manager Onramp Invest, which manages more than $40 billion in assets. Securitize is planning to simplify the access of registered investment advisors (RIA) to private equity, private credit and secondary asset classes with the acquisition of Onramp. The acquisition brings more than $40 billion in combined assets, which the Onramp platform handles for a community of RIAs across the United States. Onramp’s customer base Features some prominent firms in the crypto industry, including the exchange-traded (ETF) fund WisdomTree, asset manager Valkyrie Invest, the ETF firm Global X, crypto media Coindesk and others. As a result of the acquisition, RIAs will be able to offer their clients investment...

Investors and entrepreneurs can create and execute investment agreements directly on the blockchain. The venture capital world has long been known for its traditional approach to funding and investing in startups. However, the emergence of blockchain technology can potentially disrupt this industry and revolutionize the way venture capital operates. One significant aspect of this disruption is the tokenization of assets. Blockchain enables the creation of digital tokens representing ownership in assets or companies. This tokenization allows for fractional ownership and liquidity of traditionally illiquid assets, such as real estate or early-stage startups. It expands investment opportunities, enabling a wider range of investors to participate in ventures by owning tokens, even with small amounts of capital. Another key aspect is the use of smart contracts. These self-executing contracts with predefined rules and conditions are encoded on the blockchain . Smart contracts can eliminate...

A recent survey by BTC Peers shows that 40% of young American investors aged between 18 and 40 dived into cryptocurrencies for viral meme coins . The anonymized survey was taken among 2,531 US citizens, each completing a 55-question poll. This allowed users to share their enthusiasm for investing in crypto assets. “I bought Dogecoin after seeing memes about its price skyrocketing. The jokes made it feel like a fun club to join.” One user said in the survey. While 11% of the investors said their goal was to make long-term money, “the majority are in it for amusement and social belonging,” per BTC Peers. The bulk of meme coin investors, around 83%, belong to Millennials or Gen Z, the survey found. Moreover, 65% of the survey ed users claimed that humor and jokes help them understand the complex concepts of the crypto industry easily. One participant added that meme coins help to “spark enough curiosity” to learn more about “intimidating stuff like decentralized netwo...

The expansion came following a “productive dialogue” with the U.K. Prime Minister and “months of constructive conversations” with UK policymakers, a16z’s general partner said. Venture capital firm Andreessen Horowitz (a16z) is set to open its first office outside of the United States this year, adding to the backdrop of U.S.-based firms seeking greener pastures outside of the country. Chris Dixon, a16z’s crypto founder and managing partner cited a “ predictable business environment ” as one of the main factors behind its decision to expand, and comes amid a slew of regulatory actions against crypto firms in the United States in recent months. Big news to share: @a16z is expanding to the UK We plan to open our first international office in London later this year, and will host the next Crypto Startup School there in 2024. Why the UK? https://t.co/PQ7GuNEn77 — cdixon.eth (@cdixon) June 11, 2023 Dixon said the decision was finalized after a “productive dialogue” with the U.K. ...

Stablecoin issuer Tether is making a strategic investment in energy production and Bitcoin mining to support El Salvador’s adoption of BTC. Stablecoin issuer Tether (USDT) has reached into its own war chest to  invest in El Salvador’s $1 billion renewable energy project to help drive Bitcoin (BTC) adoption in the Central American nation. The firm responsible for issuing USDT across cryptocurrency markets is one of a handful of companies invest ing in El Salvador’s renewable power generation project. Volcano Energy is set to generate electricity from solar and wind energy in El Salvador to power future Bitcoin mining operations in the country. The planned 241-megawatt (MW) renewable energy park is the latest move in El Salvador’s Bitcoin adoption drive after the country made BTC legal tender back in 2021. Cointelegraph caught up with Tether CTO Paolo Ardoino during Money 20/20 in Amsterdam in June 2023. Attending the renowned finance and payments convention promoting Bitfinex Pay and...

The plaintiff's brought up Musk’s Saturday Night Live appearance in 2021, where he portrayed "a fictitious financial expert" and called Dogecoin “a hustle,” resulting in a steep price decline minutes later. Elon Musk and his lawyers reportedly requested a United States judge this week to dismiss the $258 billion lawsuit filed by investors who alleged that he operated a pyramid scheme to promote the cryptocurrency Dogecoin (DOGE). According to an April 1 Reuters report, Elon Musk's lawyers stated that the lawsuit against Musk – which was filed by Dogecoin investors in June 2022 – a “fanciful work of fiction," in Manhattan's federal court on March 31. Musk's lawyers explained that his support shown for Dogecoin on social media – including comments such as “Dogecoin Rulz” and “no highs, no lows, only Doge” – was “too vague” to warrant a fraud claim. The lawyers noted: “There is nothing unlawful about tweeting words of support for, or funny pictures about, a...

According to CoinShares, outflows from crypto investment funds amounted to $17 million last week, marking the fourth consecutive week of outflows. On Mar. 6, European crypto currency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which revealed that Investors have continued to display negative sentiment toward crypto investment products , with out flows totaling $17 million.  The negative sentiment was primarily focused on Bitcoin (BTC), with outflows for the cryptocurrency totaling $20 million. In contrast, short-Bitcoin products saw inflows for a third week totaling $1.8 million, according to CoinShares data. CoinShares' data showed that "overall volumes across investment products were low at US$844m for the week," with Bitcoin market volumes 15% lower than usual, averaging $57 billion.Additionally, there seems to have been a shift in sentiment regionally, with the U.S. experiencing inflows of $7.6 million while Europe saw outflows of ...

The 2022 bear market is impacting BTC miners in more extreme ways than previous downturns, especially with so many publicly listed miners struggling with their debt obligations. Bitcoin (BTC) mining is the backbone of the BTC ecosystem and miners’ returns also provide insight into BTC’s price movements and the health of the wider crypto sector. It is well-documented that Bitcoin miners are struggling in the current bear market. Blockstream, a leading Bitcoin miner recently raised funds at a 70% discount. Current mining activity shares similarities to historic BTC bear markets with a few caveats. Let’s explore what this means for the current Bitcoin cycle. Analysis shows that based on previous cycles the bear market may continue Bitcoin mining profitability can be measured by taking the miner’s revenue per kilowatt hour (kWh). According to Jaran Mellerud, a Bitcoin analyst for Hashrate Index, a BTC mining bear market has a sustained period of revenue per kWh of less than $0.25. Under h...

The revision seeks to remove nonfungible tokens from Malta's Virtual Financial Assets Framework. The Malta Financial Services Authority (MFSA) is currently reviewing requests to revise the “ regulatory treatment” of Non-Fungible Tokens (NFTs) within its Virtual Financial Assets Framework.  Under the current regulatory framework, NFTs are included within the scope of the Virtual Financial Assets Act, which also includes virtual tokens, virtual financial assets, electronic money, and all financial instruments built, or dependent on, Distributed Ledger Technology (DLT). However, the MFSA is proposing to have NFTs removed from the Virtual Financial Assets framework since they’re unique and nonfungible and therefore incapable of being used as payments for goods and services, or for investment purposes.  According to the MFSA, “the inclusion of such assets within the scope of the VFA framework may run counter to the spirit of the Act, which sought to regulate investment-type services...

The Australian crypto exchange said while it had no exposure to FTX, it was "not immune" to its fallout. Australian-based crypto exchange Swyftx has laid off a total of 90 staff members, which it said was in preparation for a “worst-case scenario” caused by the fallout of FTX and a potential fall in global trading volumes next year.  The news was shared by Swyftx co-CEO Alex Harper in a Dec. 5 statement, noting that despite not having any exposure to FTX, the company was “not immune” to the fallout over the bankrupt exchange, adding: “As a result, we have to prepare in advance for a worst-case scenario of further significant drops in global trade volumes during H1 next year and the potential for more black swan-type events.” A Swyftx spokesperson told Cointelegraph that the 40% staff cut was also in anticipation of a fall in trading volumes, despite these figures increasing in November. “We have let go of staff in expectation of a potentially sharp fall in global trade volum...