It is important to note that when a government agency seizes a crypto asset, it does not immediately own the assets. Ownership transfers only after a court ruling in favor of forfeiture.
The progress on the Grayscale conversion front offers a welcome degree of clarity to the ETF approval process, which had been somewhat murky.
The developments between US SEC and Grayscale over the past weekend led to whales accumulating Bitcoin in huge numbers.
The BitVM project was designed by Robin Linus with lots of borrowing from Ethereum’s layer two (L2) optimistic rollups that have enabled faster execution of the transactions off-chain.
Amid the macro developments and geopolitical tensions, Bitcoin has continued to outperform the rest of the crypto market.
At the time of Cramer’s warning, BTC was trading at around $27,340, having experienced a modest 0.8% gain in the previous 24 hours.
Bitcoin dominance has regained 51 percent of the total crypto market valuation despite the recent struggle to rally beyond $28k amid short-term market uncertainty caused by puzzles of economic geopolitics.
Despite the selling pressure, Bitcoin has outperformed the broader crypto market with its market share crossing over 50%.
According to Zhao, the effects of a halving usually take time to materialize.
Similarly, Block has embarked on a mission to democratize the Bitcoin mining industry. They recently announced plans to produce a ‘Mining Development Kit’ (MDK) for consumers.
Hayes based his bullish prediction on several key factors. He pointed to the potential economic downturn and financial crisis, which could lead to near-zero interest rates, creating favorable conditions for Bitcoin’s growth.
The new product is set to give investors exposure to the Bitcoin value movements on the underlying CoinDesk Bitcoin Price Index (XBX) and will only be settled in the United States dollar.
The US Treasury Yield has reached levels not seen since 2007 thereby denting the demand for riskier assets such as Bitcoin and altcoins.
Laser Digital has been gradually expanding its array of services. In September, it unveiled a “long-only” Bitcoin exposure fund for its institutional clients called the Bitcoin Adoption Fund.
Ross Ulbricht’s case has garnered significant public attention, and numerous individuals have advocated for clemency for the website’s founder.