by uncannyfaith | Jan 4, 2025 | Cryptocurrency news and updates
MicroStrategy: Leading Bitcoin Adoption with Ambitious Goals
MicroStrategy, already the largest Bitcoin holder among publicly traded companies, is doubling down on its commitment to cryptocurrency. Currently, the company owns more than 145,000 bitcoins, valued at approximately $27 billion. Despite this massive position, MicroStrategy has its eyes set on acquiring even more Bitcoin, with plans to raise an additional $2 billion.
Aiming for $2 Billion in Capital for Expansion
Back in October, MicroStrategy unveiled its ambitious plan to secure $42 billion to support its Bitcoin acquisition strategy. The plan involves raising $21 billion through share sales and another $21 billion through fixed-income securities. So far, the company has successfully raised $13.35 billion, achieving over half of its target.
In January, MicroStrategy announced its intention to raise an additional $2 billion by offering perpetual preferred stock. According to the company, the proceeds will be used to further its strategic business objectives, particularly in acquiring more Bitcoin.
However, the offering will remain subject to market conditions, and the company may opt to delay or cancel the plan if financial circumstances turn unfavorable.
MicroStrategy: The Largest Bitcoin Holder
Since 2020, MicroStrategy has adopted Bitcoin as its primary reserve asset. As of now, the company owns approximately 446,400 bitcoins, which were purchased for a combined total of $27.9 billion at an average price of $62,428 per Bitcoin.
Beyond accumulating Bitcoin, MicroStrategy has also worked to strengthen the broader cryptocurrency ecosystem. Last November, the company launched a $100 million fund dedicated to supporting Bitcoin-related projects and innovations.
CEO Michael Saylor’s Ambitions Extend Beyond Bitcoin Holdings
Michael Saylor, co-founder and chairman of MicroStrategy, has positioned himself as a leading advocate for Bitcoin. Recently, Saylor expressed plans to launch a physical Bitcoin ETF, a goal the company had previously pursued in 2021 without success.
MicroStrategy’s bold moves demonstrate its unwavering commitment to Bitcoin as both an investment and a foundational element of its business strategy. As it continues to raise capital and deepen its involvement in the Bitcoin ecosystem, MicroStrategy remains a pioneering force in the adoption of cryptocurrencies.
Key Takeaways:
- MicroStrategy is the largest holder of Bitcoin among publicly traded companies, with over 145,000 BTC.
- The company has already raised $13.35 billion in its efforts to buy more Bitcoin and now plans to secure an additional $2 billion.
- Beyond Bitcoin holdings, MicroStrategy invests heavily in the cryptocurrency ecosystem, with initiatives like a $100 million Bitcoin fund.
- CEO Michael Saylor is actively pushing to introduce a physical Bitcoin ETF, further solidifying the company’s role in cryptocurrency adoption.
This continues to position MicroStrategy as a trailblazer in the digital asset space, with its sights firmly set on expanding its influence and contributions to the evolving world of cryptocurrency.
by uncannyfaith | Jan 4, 2025 | Cryptocurrency news and updates
Argentina’s Ramiro Marra Discusses Bitcoin and Monetary Freedom
In a recent podcast appearance, Ramiro Marra, a key advisor to Javier Milei in Argentina’s government, shared his unconventional perspective on the role of Bitcoin in the hands of the people. He challenged the notion of the State imposing the use of any particular currency, advocating instead for monetary freedom. Marra’s remarks highlighted his belief in a competitive currency system, where citizens can freely choose their preferred medium of exchange, whether it be Bitcoin, the Dollar, Peso, Euro, or any other currency.
The Case for Currency Competition in Argentina
According to Marra, Argentina already has a system that allows exchange rate competition. This means residents can conduct transactions in the currency of their choice. He argued that state-imposed currencies infringe upon individual freedoms and result in higher losses for the population due to limited choices.
Marra stated that state intervention is unnecessary when it comes to choosing an official currency. “Here in Argentina, I believe there’s no need for an official currency because the State determines it. But which one do people truly want? We promote a system of monetary competition,” he explained.
Bitcoin’s Role in a Free Economy
During his interview on a podcast hosted by Adrián Sáenz, Marra elaborated on his anti-state views concerning Bitcoin. He stated that governments should refrain from imposing definitions on Bitcoin, emphasizing that people should have the liberty to use it freely—whether as a currency or financial asset.
“I don’t want to label it as a financial asset. Everyone should treat it however they wish. People should choose to use Bitcoin, Argentine Pesos, Dollars, or Euros. The important thing is freedom. When someone imposes something on you, they take away your freedom. We encourage a competitive currency system,” Marra noted.
He further highlighted how technology has made it easier for individuals to use Bitcoin in transactions. “If I want to shop at a supermarket and pay with Bitcoin, I should be able to do so. Similarly, vendors should have the freedom to decide which currency they accept in exchange,” Marra said.
A Longstanding Bitcoin Advocate
This isn’t the first time Marra has come out in support of Bitcoin. As far back as October 2024, when Bitcoin reached historic price levels, he publicly championed the digital currency as a symbol of financial independence.
In a statement on social media, Marra emphasized, “Bitcoin is more than a price; it’s freedom. It doesn’t depend on governments or fuel political excesses. Bitcoin belongs to the people, without intermediaries. Economic independence lies in the hands of individuals.”
Bitcoin as a Symbol of Freedom
Marra’s narrative aligns Bitcoin with the concept of self-ownership and independence, advocating for a world free from government-dictated currencies. He believes that the rise of Bitcoin represents a revolution of personal liberty, especially in countries where state-controlled currencies are plagued by inflation and mismanagement.
Marra’s staunch defense of Bitcoin as a tool of freedom speaks to a broader global conversation about the future of money. His vision offers an alternative for those who wish to escape the constraints of centralized monetary systems and explore the possibilities of decentralized finance.
By allowing individuals to choose how they trade and what currencies they use, Marra envisions an economic system fueled by innovation, technology, and personal choice, where freedom, not state control, drives progress.
by uncannyfaith | Jan 4, 2025 | Cryptocurrency news and updates
**Bitcoin Spot ETFs Witness Record Inflows as Price Hits $98,000**
On January 3, 2025, Bitcoin spot ETFs witnessed a record-breaking daily inflow of $908 million, marking the highest amount since late November 2024. This surge signals renewed interest from institutional investors after the typical holiday slowdown.
The **Fidelity FBTC fund** led with $357 million, followed by **BlackRock’s IBIT**, which attracted $253 million. **ARKB by ARK Invest and 21Shares** secured $222 million, while **BITB from Bitwise** accumulated $61 million. Smaller contributions came from **Grayscale’s BTC fund ($8.7 million)** and **VanEck’s HODL ($5.5 million)**.
For the week following Christmas, net inflows for spot Bitcoin ETFs amounted to $244 million.
## **Bitcoin Price Growth and Market Sentiment**
On the night of January 3-4, Bitcoin’s price surged to $98,000, marking a 2% gain in a single day. This positive momentum reignited optimism among traders, with some expecting further gains in the coming days.
However, not all analysts shared the bullish sentiment. A prominent trader under the pseudonym **Scient** stated that without surpassing $99,000 and finding strong support, a price correction might be imminent. He predicted a potential drop to the $88,000–$90,000 range in January.
**Crypto Tony**, another investor, supported this outlook, suggesting a brief “relieve wave” potentially followed by a dip near $90,000. Meanwhile, **Daan Crypto Trades** tempered expectations, highlighting that the first full week of 2025 would provide clearer insights into short-term trends.
## **Institutional Activity and Market Indicators**
The recent inflow shift suggests that institutional investors are regaining confidence after the year-end sell-off. BlackRock’s $253 million purchase, coupled with significant contributions across multiple ETFs, indicates “big money” returning to Bitcoin markets.
Despite this optimism, not all signals point to overwhelming institutional demand. Analysts observed that **Coinbase’s premium recently dropped to a 12-month low (0.237)**. This, according to experts, reflects cautious behavior among U.S. investors and restrained institutional appetite at current levels.
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These developments signify that Bitcoin’s trajectory remains a closely contested issue among traders and analysts. While some foresee further growth, others remain cautious about the sustainability of recent gains. As the year progresses, institutional activity and other key metrics will likely dictate price movements.
**Stay tuned for more updates on Bitcoin and digital asset markets.**
by uncannyfaith | Jan 4, 2025 | Cryptocurrency news and updates
Japan’s Efforts Toward Crypto Asset Tax Reform: Addressing Separate Taxation for Capital Gains
Over the past three years, Japan has made significant progress in reforming its tax system concerning crypto assets (virtual currencies). These advancements have aimed to alleviate tax-related barriers, particularly for startups and self-issued tokens. However, one of the most pressing challenges still remains: the taxation system for capital gains from cryptocurrency transactions.
Currently, any profits earned through virtual currency transactions are categorized as "miscellaneous income" under Japan’s tax framework. This means they are subject to comprehensive taxation, which combines these gains with other incomes, such as employment income. This approach places crypto traders and investors under heavy tax burdens, with a maximum tax rate of up to 55% (inclusive of resident tax)—a notably high rate compared to global standards.
Such a system poses significant challenges for the nation’s crypto economy, as it discourages promising talent, investors, and startups from actively participating in Japan’s market. Many are calling for reforms to introduce separate taxation for crypto-related capital gains in order to create a more competitive and innovation-friendly environment. Addressing this issue is crucial for fostering growth within the country’s crypto ecosystem and retaining its human capital.
Japan’s journey toward optimizing its crypto tax policies will play a pivotal role in shaping the future of its digital asset economy.
by uncannyfaith | Jan 4, 2025 | Cryptocurrency news and updates
Key Takeaways:
– Bitcoin ETFs in the U.S. saw a substantial rebound with $908 million in net inflows on Friday, following a $242 million outflow just the day before.
– Fidelity’s Bitcoin Fund led the inflows, amassing $357 million, followed by BlackRock and ARK Invest funds, which also posted significant gains.
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### U.S. Bitcoin ETFs Experience Major Inflows
U.S. spot Bitcoin ETFs witnessed a significant turnaround on Friday, drawing $908 million in net inflows after suffering a $242 million outflow the previous day. This recovery highlights the growing investor interest in Bitcoin-backed financial products.
Leading the charge was Fidelity’s Bitcoin Fund (FBTC), which recorded a daily net inflow of $357 million—one of its strongest performances since inception. FBTC has now amassed over $12 billion in investments as of early January.
BlackRock’s iShares Bitcoin Trust (IBIT) also played a pivotal role in the recovery, bringing in $253 million after experiencing three consecutive days of outflows. The trust’s total net inflows now stand at $37 million, with holdings of 548,506 Bitcoin valued at $53.4 billion. ARK Invest’s ARKB fund saw $222 million in inflows, marking another strong day in the Bitcoin ETF space.
Other notable gains came from funds managed by Bitwise, Grayscale, and VanEck, while some ETF providers reported no activity.
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### Bitcoin Breaks Above $98,000
The recent surge in demand has helped push Bitcoin prices higher. On Friday, the cryptocurrency surpassed the $98,000 mark, climbing to $98,900—the highest level since late December. Bitcoin has now risen by 4% over the past week, signaling strong momentum heading into the year.
Analysts remain optimistic, predicting a bullish trajectory for Bitcoin fueled by increasing institutional and governmental adoption. According to market forecasts, more companies and nations are expected to integrate Bitcoin into their portfolios in the near future.
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### Bright Outlook for Bitcoin ETFs
Experts anticipate continued growth in the Bitcoin ETF market, with projections suggesting that U.S. spot Bitcoin ETFs could reach $250 billion in assets under management in the coming years.
Jan van Eck, CEO of VanEck, has recommended that investors prioritize Bitcoin and gold through 2025. These assets are seen as robust hedges against inflation, economic uncertainty, and global trends such as de-dollarization.
In line with this outlook, Bitcoin is projected to rise substantially, with some estimates placing its value between $150,000 and $170,000 in the foreseeable future.
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By building on its expanding institutional acceptance, Bitcoin continues to cement its position as a crucial asset class in the broader financial landscape. As ETF inflows surge and prices climb, the cryptocurrency looks poised for a promising year ahead.
