6,595 Bitcoin Mined by Core Scientific in 2024

The growth of Core Scientific’s mining operations in 2024 resulted in the company achieving a total output of 6,595 BTC.

Significant BTC Mining Output for Core Scientific

Core Scientific, a bitcoin mining company announced its total mining output of 6,595 BTC for the entire 2024 with 974 BTC mined in Q4 2024. This was outlined in its unaudited production and operations updates for Dec. 2024.

The company earned 291 BTC in Dec. 2024 from its owned fleet of miners. With a total energized hash rate of 19.1 EH/s, the company controlled over 164,000 bitcoin miners as of the end of December, which accounted for about 96% of the miners running in its data centers.

Core Scientific also offered data center hosting services, technology, and operating support to about 7,000 hosted, customer-owned bitcoin miners in addition to its fleet of self-mining miners. This accounted for about 4% of all bitcoin miners using the company’s data centers. An estimated 18 BTC were earned by customer-owned bitcoin miners in December.

As of the end of 2024, the company recorded about 171,000 bitcoin miners running in its data centers for hosting and self-mining, amounting to a total energized hash rate of 20.1 EH/s.

Although the company disclosed its mining output for the year, no mention was made of its current bitcoin holdings which could give an idea of where Core Scientific ranks in the list of publicly traded companies who hold bitcoin.

Source: https://news.bitcoin.com/6595-bitcoin-mined-by-core-scientific-in-2024/

Bitcoin Surges Past $100K for the First Time Since December, Hits $102,514 High

Bitcoin (BTC) has once again surpassed the $100,000 mark reaching an intraday high of $102,514, its first breakthrough above this psychological level since mid-December 2024.

$103K Resistance Looms as Bitcoin Climbs to $102,514 Amid Volume Spike

This latest bitcoin surge reflects strong bullish momentum, with buyers stepping in decisively to drive prices higher. The 1-hour BTC/USD chart indicates a steady uptrend with clear signs of accumulation around the $97,000–$98,000 range, as evidenced by the consolidation zone seen earlier in the week.

Following this consolidation, BTC broke out with a strong upswing accompanied by a significant spike in volume at precisely 9:54 a.m. Eastern Time (ET), pushing the price past $100,000 and peaking at $102,514 by approximately 11:25 a.m. Right now, the $99,000–$100,000 range represents a strong demand zone, supported by recent price action and the volume profile.

If BTC retraces to this zone, it could offer a favorable buying opportunity for day traders, particularly if accompanied by a confident and bullish candlestick pattern or a continuation in higher trading volumes. The $103,000 through $103,500 level represents the immediate resistance where selling pressure is more visible.

Short-term traders could take partial profits around this level. For longer-term holders, monitoring price behavior at $103,500—another potential resistance level—could help determine exits. The move above $100,000 on Monday follows Microstrategy’s latest BTC purchase. The publicly listed business intelligence (BI) firm now holds 447,470 BTC.

The volume spike during the breakout above $100,000 and $101,000 is quite a bullish indicator. However, the four-hour and one-hour charts also reflect minor overextension, suggesting a possible short-term pullback or consolidation before further upward movement. This took place after the intraday peak. Momentum-driven traders should watch closely for confirmations above $103,000 to ensure continued bullish strength.

Bitcoin’s break above $100K this week reflects renewed market optimism and strong buying interest. Strategic entries near support levels and vigilant monitoring of resistance zones will be crucial for navigating bitcoin’s dynamic price action. Over the 24 hours, $48.13 million in bitcoin short positions were liquidated, due to BTC’s swift price rise starting at 10 a.m. As of 1:30 p.m. ET, around 74,997 traders were liquidated during the last 24 hours across the entire crypto derivatives markets.

Source: https://news.bitcoin.com/bitcoin-surges-past-100k-for-the-first-time-since-december-hits-102514-high/

Pantera Founder Backs Trump's Bitcoin Reserve Proposal: 'It's Actually a Really Good Policy'

Pantera Capital founder Dan Morehead backs the U.S. proposal for a strategic bitcoin reserve, urging a pivot from gold to “digital gold” to secure financial leadership.

Dan Morehead Champions US Bitcoin Reserve Proposal

Dan Morehead, founder and managing partner of hedge fund and venture capital firm Pantera Capital, appeared on CNBC’s ‘Fast Money’ last week to discuss the evolving landscape of cryptocurrency adoption in the U.S. and potential shifts in the coming year.

During the interview, Morehead addressed President-elect Donald Trump’s proposal to establish a strategic bitcoin reserve, expressing strong support for the initiative. He stated: “I think that is actually a really important thing. When you’re the reserve currency of the world, you don’t have somebody else’s currency to save in.” Morehead elaborated on the current state of U.S. reserves, noting: “The United States doesn’t have another currency. It stores $600 billion in gold, which is a staggering amount. It’s equivalent to 11 million years of American worker wages, so that’s kind of crazy.”

He advocated for transitioning to digital assets, asserting: “Go to digital gold. Bitcoin is much better, and so I do think it’s totally rational.” Highlighting existing government holdings, Morehead mentioned:


This perspective aligns with recent legislative efforts, such as Senator Cynthia Lummis’ introduction of the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2024. The bill proposes that the Department of the Treasury acquire 1 million bitcoins over a five-year period, aiming to strengthen the nation’s financial position and embrace digital assets.

As the U.S. government considers these proposals, industry leaders like Morehead continue to advocate for integrating cryptocurrencies into national financial strategies, reflecting a broader shift towards digital asset adoption.

Source: https://news.bitcoin.com/pantera-founder-backs-trumps-bitcoin-reserve-proposal-its-actually-a-really-good-policy/

Seized Bitcoin Triples in Value, Helping Fraud Victims Recover Losses

Law enforcement’s swift action seized $900,000 in bitcoin from a Nigerian fraud scheme, and its soaring value may fully reimburse victims of a $1 million scam.

Bitcoin Boom: Law Enforcement’s Quick Move Recovers Millions for Scam Victims

The U.S. Attorney’s Office for the Western District of Washington announced on Monday that bitcoin seized during a fraud investigation will help victims recover funds lost in a business email compromise (BEC) scheme. The announcement details:


“The U.S. Attorney’s Office then filed a civil forfeiture case against the seized bitcoin, the value of which has more than tripled since the time of seizure,” the announcement adds. “Due to the rising price of bitcoin, it is possible that each of the ten victims who have filed claims will be made whole.” The scheme, which targeted real estate transactions, resulted in the theft of more than $1 million.

The fraud surfaced in December 2023 when a company handling real estate transactions reported a system breach. Fraudsters infiltrated the systems to send false wire transfer instructions, diverting large sums intended for mortgage and property payments. Investigators uncovered that at least ten individuals and businesses suffered financial losses, with amounts ranging from $75,000 to $425,000.

Source: https://news.bitcoin.com/seized-bitcoin-triples-in-value-helping-fraud-victims-recover-losses/

Jim Cramer Champions Crypto — Reveals Why BTC and ETH Belong in Your Portfolio

Jim Cramer advocates for bitcoin and ethereum as key portfolio assets, citing their appeal amid rising U.S. debt and their potential to navigate fiscal challenges.

Jim Cramer: ‘I’ve Liked Crypto for a Very Long Time’

Jim Cramer, host of CNBC’s Mad Money, defended his support for cryptocurrency on Tuesday, recommending bitcoin and ethereum as portfolio assets amid concerns over rising U.S. national debt and ongoing government spending challenges. Cramer is a TV host, author, and former hedge fund manager.

Noting that “national debt worries are never going to go away,” Cramer highlighted the appeal of digital assets, noting:


“While there’s no proof crypto can protect you from anything — at least not yet — it’s a plausible story…Let’s just say sometimes that’s all you need in this business,” the Mad Money host added.

Cramer elaborated on the challenges posed by the country’s mounting deficit, pointing to legislators’ reluctance to address the issue. He argued that while solutions like balancing the budget exist, political unwillingness to enact unpopular measures — such as raising taxes or cutting expenditures — leaves the problem unresolved.

Cryptocurrencies, with their fixed supply, could serve as a hedge against a devalued dollar, he said, aligning with a perspective shared by some on Wall Street. However, Cramer cautioned about their novelty and lack of a proven track record, urging caution. Still, he maintained:


“Maybe, one day, if the deficit gets under control, I’ll change my tune,” he opined.

Cramer has exhibited a fluctuating stance on cryptocurrencies over the years. In December 2020, he purchased bitcoin and later sold most of his holdings by mid-June 2021, reportedly using the profits to pay off a mortgage. Following the 2022 crypto market downturn, Cramer expressed skepticism toward digital assets. However, by early 2024, he acknowledged Bitcoin’s resilience, stating, “you can’t kill it,” and described its resurgence as a “remarkable comeback.”

Source: https://news.bitcoin.com/jim-cramer-champions-crypto-reveals-why-btc-and-eth-belong-in-your-portfolio/

Bitcoin Could See Inflows Worth $2.28 Trillion in 2025: Insights From OKG Research

OKG Research’s forecast of $2.28 trillion in bitcoin inflows by 2025 underscores the asset’s growing importance in the global financial ecosystem.

Bitcoin Can Hit Another Landmark in 2025

The cryptocurrency market is no stranger to bold predictions, and a new report by OKG Research, the research division of the Oko Cloud Chain Institute forecasts that bitcoin could witness inflows of up to $2.28 trillion by 2025.

This projection is based on several macroeconomic and market-specific factors that the report meticulously analyzes. The research report outlines institutional adoption, regulatory clarity, global economic trends, network developments, and retail market expansion as key factors to this projection.

Institutional investors have increasingly turned their attention to bitcoin as a hedge against inflation and a digital store of value. High-profile purchases from companies like MicroStrategy, Marathon Holdings, Semler Scientific, and Metaplanet, as well as the rise of bitcoin ETFs, signal growing trust in the asset class.

Despite these significant holdings by publicly listed companies, the report states that “Only 0.01% of publicly listed companies hold bitcoin, indicating that this is just the tip of the iceberg of institutional purchasing power, and the market is still in the elite experimental stage.”

OKG Research predicts that by 2025, institutions will allocate a more substantial portion of their portfolios to bitcoin, driven by its strong historical performance and limited supply. Ongoing macroeconomic trends such as the devaluation of fiat currencies, rising inflation, and quantitative easing policies will likely accelerate the pace of bitcoin adoption.

The analysis also looks at some nations that have decided to invest in bitcoin in order to shield their wealth from the depletion caused by inflation. El Salvador and the Central African Republic have made bitcoin legal tender, while Bhutan is mining the cryptocurrency in an effort to use its decentralized nature and scarcity to reduce the risk of inflation.

The report concludes by stating that bitcoin’s fixed supply, decentralization, and worldwide liquidity will remain unaffected by short-term swings in the current macro environment. With institutions and publicly traded corporations actively vying for exposure to the asset class, it will hasten its transition to a value storage asset.

Source: https://news.bitcoin.com/bitcoin-could-see-inflows-worth-2-28-trillion-in-2025-insights-from-okg-research/

Wall Street Giant Engages Tether on Pivotal Bitcoin Lending Plan

Wall Street powerhouse Cantor Fitzgerald plans to launch a multibillion-dollar lending program using bitcoin as collateral, potentially reshaping crypto-backed financing and deepening ties with Tether Holdings.

Cantor Fitzgerald’s Crypto Strategy: A Pivotal Moment for Bitcoin’s Future

Howard Lutnick, chairman and CEO of Cantor Fitzgerald, a leading global financial services firm, is reportedly working to bolster connections between his businesses and Tether Holdings Ltd., the issuer of the USDT stablecoin.

Cantor Fitzgerald is seeking Tether’s support for a multibillion-dollar lending program, according to Bloomberg, citing sources familiar with the discussions. This initiative would allow clients to borrow dollars by using bitcoin as collateral. Initial funding is set at $2 billion, with projections suggesting expansion into the tens of billions. Tether already collaborates with Cantor Fitzgerald through its custody services. Additionally, Cantor has acquired a 5% stake in Tether, valued at approximately $600 million, according to the Wall Street Journal.

This development followed Cantor Fitzgerald’s July announcement of plans to launch “a bitcoin financing business to provide leverage to investors who hold bitcoin,” starting with $2 billion in initial funding and aiming for expansion. “Cantor Fitzgerald arranges and finances vast amounts of securities and commodities and, as strong supporters of bitcoin, will now build an incredible platform to support bitcoin investors’ financing needs,” Lutnick emphasized, adding:


President-elect Donald Trump has nominated Lutnick as Secretary of Commerce. A prominent Wall Street figure and co-chair of Trump’s transition team, Lutnick supports broad tariffs and cryptocurrency. He has compared bitcoin to gold and advocated for its unrestricted global trade, emphasizing at a recent bitcoin conference that it should be treated as a freely traded commodity. As Commerce Secretary, Lutnick’s stance on cryptocurrency could shape regulatory frameworks, influencing innovation and market confidence. His Wall Street experience and crypto advocacy may drive policies balancing growth, regulation, and competitiveness, potentially positioning the U.S. as a leader in the digital economy.

President-elect Donald Trump is actively shaping a pro-cryptocurrency agenda as he prepares to assume office. His transition team is considering establishing the first-ever White House position dedicated to cryptocurrency policy. Additionally, Trump has proposed creating a strategic national bitcoin reserve to manage and potentially reduce the U.S. national debt, which stands at $36 trillion. These initiatives aim to position the United States as a global leader in the cryptocurrency sector, reflecting a significant shift in federal oversight and support for digital assets.

Source: https://news.bitcoin.com/wall-street-giant-engages-tether-on-pivotal-bitcoin-lending-plan/

US Senator Pushes Gold Sales to Kickstart Massive Bitcoin Reserves

A U.S. senator has proposed selling gold reserves to create a strategic bitcoin reserve, a revolutionary move to bolster the dollar and tackle U.S. national debt.

Selling Gold for Bitcoin: US Senator’s Game-Changing Proposal

U.S. Senator Cynthia Lummis (R-WY) shared insights during a Thursday interview with CNBC as bitcoin reached a historic peak. She attributed BTC’s price movements to two primary factors: rising momentum for digital asset regulations and emerging discussions on a strategic bitcoin reserve.

Referencing her collaborative efforts with Senator Kirsten Gillibrand (D-NY) on crypto legislation expected to advance in early 2025, Lummis highlighted the increasing demand in Washington for clear crypto guidelines, stating:


Another factor she identified was the market’s response to bold proposals like establishing a strategic bitcoin reserve. This concept suggests that the U.S. government could leverage bitcoin as a tool to fortify the dollar and address the national debt. President-elect Donald Trump has proposed creating a U.S. strategic bitcoin reserve, aiming to position the country as a leader in cryptocurrency innovation. This initiative aligns with Lummis’s Bitcoin Act, introduced in July, which recommends that the U.S. Treasury accumulate one million bitcoins over five years.

Lummis emphasized that the U.S. could establish the reserve without spending new funds by leveraging existing assets. Reserves at the 12 federal reserve banks, including gold certificates valued at 1970s levels, could be adjusted to current market value and converted into bitcoin, she suggested. Additionally, Lummis noted that the government already holds over 200,000 BTC through asset forfeiture, providing an initial source for the reserve without requiring new expenditures.

The lawmaker opined:


Responding to concerns about conflict of interest, Lummis clarified that her bitcoin holdings are in a blind trust. “I had five bitcoin and put them along with other stocks I owned into a blind trust,” she revealed. A blind trust is a financial arrangement where a third party manages assets on behalf of the trust’s owner without the owner having any knowledge or control over the specific holdings or transactions. This setup is typically used to avoid potential conflicts of interest, particularly for public officials or individuals in positions of influence.

Emphasizing that bitcoin is a commodity, the senator concluded: “Bitcoin is legal tender in another country, and we need to recognize that as Americans bitcoin is a store of value and a means of exchange that has characteristics of a commodity so it’s very different from other assets.”

Source: https://news.bitcoin.com/us-senator-pushes-gold-sales-to-kickstart-massive-bitcoin-reserves/

Bitcoin Smashes Records: Hashrate Hits 776 EH/s as Price Soars Closer to $100K

Based on the most recent data using the seven-day simple moving average (SMA), bitcoin’s hashrate climbed to an unprecedented peak on Nov. 21, reaching 776 exahash per second (EH/s) for the very first time.

Bitcoin’s Computational Power Hits Stratospheric Levels

On Thursday, bitcoin (BTC) soared to a fresh all-time high, hitting $99,121 per coin. This price boost has given miners a financial edge, as the hashprice—the estimated worth of 1 petahash per second (PH/s) of hashpower—has significantly increased. For instance, on Nov. 4, 2024, the value of a single petahash stood at $42.86, but today, it has climbed to $63.07.

Beyond the increase in revenue, the network’s computing power has hit an all-time peak. As of 8:30 p.m. Eastern Time on Nov. 21, the hashrate’s seven-day SMA reached 776.45 EH/s—a record-breaking level. Meanwhile, mining data from theblock.co reveals that bitcoin miners have raked in $778.13 million in total revenue, with $752.23 million coming from subsidies.

A total of 59 unique pools or entities are contributing computational power to Bitcoin’s proof-of-work (PoW) blockchain. This influx of revenue has encouraged more hashpower, speeding up block intervals to below the usual ten-minute average. Current data reveals the average block time is now nine minutes and two seconds. Over the past 500 blocks, this pattern suggests the difficulty level is set for a significant climb.

Projections indicate a potential 10.9% jump in difficulty could be on the horizon. At present, the difficulty is 102.29 trillion, and a leap of this size would crank up the pressure on miners. However, with trends leaning heavily bullish, those taking on the challenge might just see their efforts pay off in the long run. The interplay between bitcoin’s surging price and the record-breaking hashrate reflects a dynamic system where opportunity meets challenge.

While miners reap the rewards of increased revenue, the looming difficulty adjustment underscores the competitive intensity of the Bitcoin network. As these trends unfold, they exemplify the delicate balance of innovation and resilience that defines this decentralized ecosystem.

Source: https://news.bitcoin.com/bitcoin-smashes-records-hashrate-hits-776-eh-s-as-price-soars-closer-to-100k/

Bitcoin Breaks All-Time Price Highs: Long-Term Holders Stir as Institutional Demand Surges

Bitcoin (BTC) continues to smash new lifetime price highs and long-term holders are starting to awake from slumber, according to Glassnode’s recent analysis.

Institutional Investors Anchor Bitcoin’s Ascent as Analysts Warn of Profit-Driven Sell-Offs

Glassnode and analysts Cryptovizart and Ukuria OC reported that this month’s surge was driven by capital inflows of $62.9 billion over the last 30 days, reflecting a broader momentum within the cryptocurrency market. Institutional investors, particularly through U.S. spot exchange-traded funds (ETFs), absorbed approximately 90% of the sell-side pressure exerted by long-term holders.

Glassnode’s onchain report called “Riding the Liquidity Tide” reveals bitcoin’s capitalization is now placed above silver and Saudi Aramco in global asset rankings. Analysts noted a 61.3% quarterly rise in bitcoin’s value, far surpassing the performance of traditional commodities such as gold (+5.3%) and silver (+8.0%). The market strategists highlighted that stablecoin inflows into centralized exchanges surged by $9.7 billion, underlining strong speculative demand following the U.S. presidential election.

Glassnode’s analysis showed that long-term holders (LTHs) have begun realizing significant profits. Between Oct. 8 and Nov. 13, approximately 128,000 BTC were sold by BTC’s LTHs. Despite increased selling, Glassnode analysts believe bitcoin’s momentum remains intact, supported by strong capital inflows from institutional buyers. The onchain report emphasized the historical tendency for the market to sustain elevated profit levels during bull cycles, suggesting potential for further growth.

Glassnode’s report states:


Drawing comparisons to prior cycles, the report observes consistent patterns in bitcoin’s macro price behavior. These cycles, lasting between four and 11 months, suggest further room for upward momentum. However, analysts cautioned about potential volatility as unrealized profits increase, often triggering higher sell-side pressure.

Glassnode’s week onchain newsletter further notes:


The role of exchange-traded funds (ETFs) in stabilizing the market was underscored, with weekly inflows averaging $1 billion to $2 billion since mid-October. Glassnode reported that ETFs absorbed significant sell-offs, effectively counterbalancing market imbalances. Yet, as of Nov. 13, LTH sell-side pressure has begun to outpace ETF inflows, a trend last observed in early 2024, which led to market consolidation.

While bitcoin continues its remarkable ascent, analysts warned of challenges ahead. Glassnode emphasized the importance of institutional inflows in sustaining market momentum. Researchers Cryptovizart and Ukuria OC highlighted that rising unrealized profits could amplify volatility but maintained a cautiously optimistic outlook, noting bitcoin’s resilience in navigating cyclical and structural shifts.

Source: https://news.bitcoin.com/bitcoin-breaks-all-time-price-highs-long-term-holders-stir-as-institutional-demand-surges/

Should El Salvador Follow Microstrategy's Bitcoin Playbook? A High-Stakes Move

The recent rise in the price of bitcoin due to geopolitical issues is prompting nations to consider introducing BTC as part of their reserves. In this context, countries like El Salvador, which is already purchasing bitcoin, might consider issuing debt to fund larger purchases.

El Salvador Could Increase Its Bitcoin Purchases Issuing Debt

Bitcoin has become a world phenomenon after President Trump’s victory at the polls and the possibility of a strategic bitcoin reserve being created in the future. In this context, the personal cryptocurrency advisor of President Nayib Bukele and bitcoin permabull Max Keiser, has presented an idea to give the country more muscle to continue purchasing bitcoin in bulk.

On social media, Keiser asked if El Salvador should follow Microstrategy’s bitcoin scheme, allowing the country to issue debt to purchase more bitcoin without putting its own money.

Keiser asked:


More than 80% of the respondents think this would be a good thing for the country, with over 1,500 users taking part in the informal survey. Currently, El Salvador holds 5,940 BTC, and President Nayib Bukele compromised to purchase 1 BTC daily until the currency becomes unaffordable with fiat money.

Read more: El Salvador Will Keep Buying 1 Bitcoin Daily Until BTC ‘Becomes Unaffordable’ With Fiat Currencies, Says President Bukele

If El Salvador adopts a policy inspired by Microstrategy’s actions, it would be the first time a nation-state enters into a deal of this kind, with all the risks that it would carry with it. Nonetheless, El Salvador’s record on executing bitcoin-linked policies is far from stellar.

The country still has not issued the so-called “volcano bonds,” instruments first announced in 2021 to finance the construction of Bitcoin City, a bitcoin-focused metropolis that has not been built yet. The bonds aimed to raise $1 billion for this objective, but they have been delayed several times due to unfavorable conditions, and the government has not officially referred to them in some time.

Read more: El Salvador to Issue $1 Billion Bitcoin Bond to Fund ‘Bitcoin City’

Also, the track of this kind of offering in the country is not positive. The first digital debt offering, made to raise funds to build a Hilton hotel at El Salvador International Airport, failed to get traction. The offer did not reach the $500,000 needed to continue past the first established deadline.

Source: https://news.bitcoin.com/should-el-salvador-follow-microstrategys-bitcoin-playbook-a-high-stakes-move/

Planning Ahead: Cosmos Health Looks to Add Bitcoin and Ethereum to Its Treasury

Chicago-based Cosmos Health, a publicly traded, vertically integrated global healthcare company, is diving into the crypto space by incorporating digital assets into its treasury reserves.

A Publicly Traded Healthcare Firm’s Bold Plan to Add Bitcoin to Its Treasury

On Monday, the company announced through a series of press releases issued online that it would follow the lead of firms like Microstrategy, Semler Scientific, Metaplanet, and Tesla by holding bitcoin (BTC) on its balance sheet. Cosmos Health (Nasdaq: COSM) further detailed it was adding ethereum (ETH) as well.

Cosmos explained that adopting this policy aligns with its self-proclaimed commitment to embracing innovative technologies. This move comes on the heels of its recent acquisition of Cloudscreen, an artificial intelligence (AI)-powered platform designed for drug repurposing. The press release revealed that Cosmos “expects that adding bitcoin and ethereum, along with potentially other cryptocurrencies and blockchain-related assets, will help diversify its balance sheet.”

The company also hinted at the possibility that the investment could “offer significant upside potential as these assets increasingly gain global adoption.” After the announcement, Cosmos’ shares listed on Nasdaq climbed 11.13% during Monday’s trading. That same day, Microstrategy disclosed its acquisition of 51,780 BTC and unveiled plans to raise $1.75 billion through a private offering to purchase additional bitcoin.

Greg Siokas, CEO of Cosmos, emphasized the company’s visionary strategy and commitment to innovation. “Cosmos is a flexible, agile, and forward-looking Company. We believe this strategy will help us stand out by making a significant investment in the new era. Alongside our AI capabilities, we are now incorporating crypto assets and continually seeking additional future-focused investments to benefit our shareholders,” Siokas stated.

Siokas added:


Source: https://news.bitcoin.com/planning-ahead-cosmos-health-looks-to-add-bitcoin-and-ethereum-to-its-treasury/

Ark Invest CEO Cathie Wood Doubles Down on Bitcoin's $1.5M Bull Case as Optimism Soars

Ark Invest CEO Cathie Wood has doubled down on her $1.5 million “bull case” bitcoin forecast, citing factors such as institutional adoption, potential regulatory relief, and BTC’s growing recognition as a unique asset class.

Cathie Wood Predicts Bitcoin Could Hit $1.5M Amid Growing Institutional Interest

Cathie Wood, CEO and CIO of asset management firm Ark Invest, has reaffirmed her ambitious bitcoin price forecasts, maintaining that the firm’s optimistic projections for 2030 remain unchanged despite market volatility. In an interview with CNBC on Friday, Wood reiterated:


Ark Invest first introduced these bitcoin price forecasts in its 2023 Big Ideas report, published in February last year. Unlike the single prediction in earlier reports, the firm presented three scenarios. The “base case” projects bitcoin reaching $682,800 by 2030, based on the most likely assumptions. The “bear case” estimates a price of $258,500, while the “bull case” envisions bitcoin rising to $1.48 million per coin by the same year.

Wood emphasized on Friday that bitcoin is still a good investment at the current price. “Remember, we were the first public asset manager to gain exposure to bitcoin in 2015 at $250,” she said, elaborating:


“Why? Well, first of all, we’re getting regulatory relief here and I think that’s one of the most important things coming out of this administration. We will get regulatory relief on all kinds of innovation, including health care,” the Ark Invest CEO detailed.

“The other thing is we’re looking at bitcoin now being viewed as a new asset class — it’s not just a global monetary system, it’s a new asset class,” she continued. “And what that means is institutions, and asset allocators generally, are saying: ‘Wait a minute, this asset is behaving differently from all of our other assets, we need to include it.’” Citing bitcoin’s historical performance during halving cycles, Wood predicted its continued upward momentum as inflation declines and halving events reduce supply.

Source: https://news.bitcoin.com/ark-invest-ceo-cathie-wood-doubles-down-on-bitcoins-1-5m-bull-case-as-optimism-soars/

RFK Jr. Calls Bitcoin 'A Hedge for Middle Class Americans' Amid Treasury Secretary Contest

On Saturday, Robert F. Kennedy Jr., the designated Secretary of Health and Human Services (HHS) for the Trump transition team, took to the social media platform X to declare that bitcoin is “a hedge against inflation for middle class Americans.”

Bitcoin at the Forefront: Kennedy and Bass Spar Over Treasury Contenders

This weekend, Kyle Bass, the renowned American investor and hedge fund manager who founded Hayman Capital Management in 2005, weighed in on the two frontrunners for the U.S. Treasury Secretary position under President-elect Donald Trump. Currently, the top contenders are Scott Bessent, founder of Key Square Capital Management, and Howard Lutnick, CEO of financial services firm Cantor Fitzgerald.

Bass threw his support behind Bessent, making his views known on the social media platform X. “Scott Bessent is eminently more qualified than Howard Lutnick to run the U.S. Treasury,” Bass wrote. “Scott understands markets, economics, people, and geopolitics better than anyone I’ve ever interacted with. Markets have already anticipated a Bessent choice. Lutnick is not Trump’s answer.” After the X post, Robert F. Kennedy Jr. jumped onto X to respond to Bass.

Kennedy wrote:


Howard Lutnick has become a vocal champion for bitcoin (BTC), seamlessly weaving the cryptocurrency into his firm’s financial offerings. In July 2024, Lutnick unveiled a $2 billion bitcoin financing venture, designed to offer leverage to bitcoin holders. Cantor Fitzgerald is also linked with Tether. Since late 2021, Cantor Fitzgerald has acted as a custodian for Tether’s reserves, overseeing a substantial part of Tether’s U.S. Treasury assets.

Billionaire hedge fund investor Scott Bessent is likewise seen as pro-crypto. Fox Business journalist Eleanor Terrett took to X to share some of Bessent’s recent comments from a Fox interview. “I think everything is on the table with bitcoin,” Bessent said. “One of the most exciting things about bitcoin is that it brings in young people and those who have not participated in markets before. Cultivating a market culture in the US, where people believe in a system that works for them, is the centerpiece of capitalism,” the Key Square founder added.

In another quote Terrett shared, Bessent stated:


The spirited debate over the next Treasury Secretary reflects a pivotal moment for U.S. economic policy, especially as cryptocurrency continues to permeate financial discussions. Both Lutnick and Bessent bring unique perspectives, but their crypto-friendly stances highlight the growing influence of digital assets. The final choice could signal how the administration plans to navigate the evolving intersection of traditional finance and blockchain innovation.

As the Trump transition team weighs its leadership picks, the conversation highlights cryptocurrency’s increasing influence on U.S. fiscal policy. Whether leaning toward Lutnick’s ambitious crypto initiatives or Bessent’s balanced market-focused strategy, the impact will likely echo far beyond Washington. This choice could reshape America’s position on digital finance, paving the way for the next phase in economic development.

Source: https://news.bitcoin.com/rfk-jr-calls-bitcoin-a-hedge-for-middle-class-americans-amid-treasury-secretary-contest/

Dormant No More: 2012 Bitcoin Wallet Moves $35.7M, Linked to Last Month’s Whale Transfers

On Sunday, Nov. 17, at block height 870,770, a long-inactive bitcoin wallet—created on June 5, 2012—sprang to life, moving 400 BTC valued at $35.7 million. The individual behind the transaction might be the same entity that transferred bitcoin acquired in 2011 and 2012 just last month.

2012 Legacy Wallet Moves $35.7M, 200 Bitcoin to Bitstamp, Echoing Similar Transfers Last Month

Onchain data from btcparser.com revealed an awakening: a dormant bitcoin wallet from 2012 stirred to life on Sun., Nov. 17, around 4:30 p.m. Eastern Time, moving 400 BTC. These funds, first acquired on June 5, 2012, had rested in a legacy pay-to-public-key-hash (P2PKH) address. Back then, bitcoin traded for just $5.60, giving the 400 BTC a value of only $2,240 at the time.

Fast forward 4,548 days to block height 870,770, and this stash made its first move. A clean-cut portion of 200 BTC headed to centralized crypto exchange Bitstamp, which operates out of the U.K. and Luxembourg. Valued at $18.14 million, the coins were sent to a pay-to-script-hash (P2SH) address identified as belonging to Bitstamp. Meanwhile, the unspent transaction output (UTXO) change landed in a P2PKH wallet now holding 351 BTC, worth $31.8 million at the time of writing.

The transaction left little to the imagination, earning a “critical” privacy score of zero out of 100 from Blockchair. Key privacy lapses included matched addresses and the use of a round number, tagging the entity as a likely match for the whale who shifted 399 BTC on Oct. 25. Intriguingly, the October transaction also originated from a P2PKH address created on June 5, 2012.

On that earlier occasion, 100 BTC made its way to the P2SH Bitstamp wallet. This same whale had previously moved coins from long-dormant bitcoin wallets established in 2011, continuing a pattern that has caught the crypto community’s attention. These movements shine a light on the unpredictable reawakening of dormant bitcoin wallets, sparking curiosity and intrigue.

After more than a decade of inactivity, such transactions lead to speculation about the intent—be it consolidation, cashing out, or an enigmatic strategy. They also remind us of the vast reservoirs of untouched bitcoin, each waiting for its own moment to resurface. According to timechainindex.com, there’s still approximately 47,786.76 BTC in unspent 2011 coinbase rewards and 11,507.17 BTC from 2012.

Similarly, bitbo.io data shows an estimated 11,109 unspent coinbase rewards from that year have not been spent. These figures suggest unspent 2012 rewards are dwindling. Recent patterns of activity may reflect a calculated plan, possibly influenced by market dynamics or personal milestones tied to these bitcoin movements.

Source: https://news.bitcoin.com/dormant-no-more-2012-bitcoin-wallet-moves-35-7m-linked-to-last-months-whale-transfers/

Michael Saylor Targets $100K Bitcoin This Year — Says All Microstrategy Investors Want More BT

Michael Saylor is planning a $100K bitcoin celebration, citing bullish momentum fueled by Wall Street support, regulatory optimism, and Microstrategy’s aggressive BTC acquisitions.

‘All of Our Investors Tell Me, They Want Me to Buy More Bitcoin’

Michael Saylor, the pro-bitcoin executive chairman of Microstrategy (Nasdaq: MSTR), delved into BTC’s trajectory and the cryptocurrency industry’s future in an interview with CNBC last week. He pointed to a convergence of factors driving optimism, including political developments and Wall Street backing.

“We’re also getting a lot of very constructive support from Wall Street,” Saylor said, elaborating: “Blackrock has been a very, very strong voice articulating the bitcoin value proposition.” He added that Microstrategy announced on Oct. 30 that it will raise $42 billion to buy bitcoin. “That’s the same as saying we’re going to buy every bitcoin mined for the next three years at $85,000 or more bitcoin,” Saylor described, emphasizing:


On regulation, Saylor discussed the importance of leadership at the U.S. Securities and Exchange Commission (SEC), calling it “probably the most pivotal role in the entire digital assets industry.” He predicted that a pro-bitcoin SEC chair could bring about significant changes, including “a digital assets framework” and “an end to the war in crypto.”

The Microstrategy chairman also expressed confidence in bitcoin’s price performance, rejecting the possibility of a drop below $30,000. “I don’t think it’s going to $60K. It’s not going to $30K. I think it’s going to go up from here. I’m planning the $100K party and I’m thinking it’s probably going to be New Year’s Eve at my house,” he opined, noting:


When asked about the U.S. making BTC a national reserve, he expressed support for Senator Cynthia Lummis’ proposal for a U.S. strategic bitcoin reserve, calling it essential for strengthening the nation’s economic leadership. “I think it’s a great idea. I think it will happen. And I think it’s important to the United States … Senator Lummis’ bill will offset $16 trillion of our debt, according to my models right now. So, I think it’s economically wise. It’s technically wise,” Saylor detailed.

Discussing Microstrategy’s rapid bitcoin acquisitions, he revealed:


“We did raise $2 billion to buy 27,200 bitcoin just in the first 10 days of November. So we’re moving fairly aggressively on it. I think our exact rate will be a function of the capital markets but right now they’ve been very enthusiastic. So, our plan is three years, but it’s possible we’ll do it much before then,” he concluded.

Source: https://news.bitcoin.com/michael-saylor-targets-100k-bitcoin-this-year-says-all-microstrategy-investors-want-more-btc/

Bitcoin $125K by New Year? Peter Brandt's Bold BTC Prediction Shakes Markets

Peter Brandt projects that bitcoin could surge to $125,000 by the New Year, citing bullish trends and the cryptocurrency’s strong historical price-action patterns.

Peter Brandt Sees Path to $125K Bitcoin as Market Enters Uncharted Territory

Veteran trader and renowned chartist Peter Brandt shared an optimistic outlook for bitcoin on Sunday after the cryptocurrency broke its all-time highs on Sunday.

Posting on social media platform X, Brandt noted that between March and October 2024, bitcoin consistently offered everyone buying opportunities during dips. “When BTC decides to ‘Mark-Up,’ it never looks back,” he stressed. “Throughout its history, when BTC runs – it runs.” Brandt outlined a potential path for bitcoin to reach $125,000 by New Year’s, using a “time/price” Bayesian probability model. “Based on Jan-Mar ’24 run as only one ‘time/price’ Bayesian probability ‘priors,’ price could hit $125K by New Years,” he noted.

In Bayesian analysis, “priors” are initial data points or assumptions that help predict future outcomes based on past events. Brandt uses bitcoin’s price action from January to March 2024 as his “prior” — essentially, as a baseline pattern that could indicate how bitcoin might behave under similar conditions in the future.

Last week, Brandt reiterated that bitcoin is in the “sweet spot” of its halving cycle, historically linked to significant price growth. He explained that halving events, which reduce mining rewards, tend to split bull markets into two distinct phases, creating predictable timing patterns. Based on this cycle, Brandt forecasts that bitcoin’s price could peak between $130,000 and $150,000 by August or September 2025, emphasizing its volatility and growth potential if the bullish trend continues.

Many analysts have offered their bitcoin price predictions. Asset management firm Vaneck projects that BTC could reach $3 million by 2050 if it becomes a reserve asset held by global central banks. Meanwhile, analysts at Bernstein predict BTC could hit $200,000 by the end of 2025. JPMorgan is also optimistic, with its analysts recently stating, “We are positive on bitcoin into 2025.”

Source: https://news.bitcoin.com/bitcoin-125k-by-new-year-peter-brandts-bold-btc-prediction-shakes-markets/

DOJ Strikes Bitcoin Fog: The End of Darknet’s Most Elusive BTC Service

A landmark sentencing has closed the chapter on Bitcoin Fog, the longest-running bitcoin mixing service on the darknet, with its operator facing over a decade in prison.

The Fall of Bitcoin Fog: DOJ’s Pursuit Unmasks a Decade-Long Darknet Operation

The U.S. Department of Justice (DOJ) announced Friday that Roman Sterlingov has been sentenced to prison for operating Bitcoin Fog, a BTC mixing service. The DOJ stated:


Evidence presented at trial revealed that from 2011 to 2021, Bitcoin Fog was a popular destination for criminals looking to obscure illicit proceeds, with the platform handling over 1.2 million bitcoin transactions, valued at over $400 million at the time. The majority of this activity came from darknet marketplaces, supporting crimes such as narcotics trafficking, identity theft, and child exploitation.

Deputy Attorney General Lisa Monaco commented on the sentencing, stating: “Roman Sterlingov ran the longest-running bitcoin money laundering service on the darknet, and today he paid the price.” Principal Deputy Assistant Attorney General Nicole M. Argentieri emphasized the scale of Sterlingov’s operation, adding: “Roman Sterlingov laundered over $400 million in criminal proceeds through Bitcoin Fog, his cryptocurrency ‘mixing’ service that was open for business to criminals looking to hide dirty money.”

Chief Guy Ficco of IRS Criminal Investigation stressed: “Today’s significant prison term and hundreds of millions in financial sanctions against the defendant emphasizes the seriousness of this conviction.”

As part of the sentence, Sterlingov must pay a substantial financial penalty. The DOJ explained:


“In addition, Sterlingov was ordered to forfeit his interest in the Bitcoin Fog wallet, totaling approximately 1,345 bitcoin and currently valued at more than $103 million,” the Justice Department noted.

Source: https://news.bitcoin.com/doj-strikes-bitcoin-fog-the-end-of-darknets-most-elusive-btc-service/

Robert Kiyosaki Discloses Bitcoin Holdings — Plans to Buy More BTC at Any Price

Robert Kiyosaki has revealed his bitcoin holdings and plans to buy more BTC over the next year, along with his investments in gold, silver, and real estate — assets he views as “real money” for building lasting wealth.

Robert Kiyosaki Unveils Bitcoin Holdings, Shares His Approach to Gold, Silver, and BTC

Robert Kiyosaki, the renowned author of Rich Dad Poor Dad, shared his perspective on building wealth through assets like bitcoin, gold, and silver on social media platform X Friday. Rich Dad Poor Dad, a 1997 book co-authored by Kiyosaki and Sharon Lechter, has earned global acclaim, spending over six years on the New York Times Best Seller list, with over 32 million copies sold across 51 languages in more than 109 countries.

Kiyosaki noted that people often use excuses to avoid investing, which he categorizes as a “poor person” mindset. For example, he mentioned that when bitcoin is $76,000, people often say: “That’s too expensive. I’ll wait till the price goes down.” He explained that similar excuses arise when gold’s price is at $2,684 an ounce or silver at $32 an ounce.

Highlighting the importance of owning assets rather than waiting for price drops, Kiyosaki remarked:


His approach suggests that waiting for ideal price points may hinder wealth-building. Instead, he advocates for steady accumulation of assets like bitcoin, gold, and silver, irrespective of market changes.

“I started buying silver at $1 an ounce. Now I have thousands of ounces. I keep buying at $32 an ounce. The same is true for gold and bitcoin. I bought my first bitcoin at $6,000, and I continue to acquire at $76,000,” the acclaimed author shared.

Reinforcing his message, he added: “Remember, while price per coin is important … ultimately it’s the number of coins, gold, silver, or bitcoin that are yours … That counts more importantly than the price per coin.” Advising investors to convert fiat currencies, which he dubs “fake money,” into “real money” assets like gold, silver, and bitcoin, he urged: “Keep trading fake money … for real money and you will get richer. Good luck.” He opined: “I wish I had bought bitcoin at $10 per coin … but I didn’t. I started buying at $6,000 and I am glad I did.”

The Rich Dad Poor Dad author further shared:


In addition to cryptocurrency, Kiyosaki revealed: “I own a lot of income-producing real estate, I own gold-producing mines, and I save my profits in bitcoin, gold, and silver coins … Real money.” He concluded: “I too wish bitcoin was back to $10 a coin … but ‘wishing’ has never made poor people richer.”

Source: https://news.bitcoin.com/robert-kiyosaki-discloses-bitcoin-holdings-plans-to-buy-more-btc-at-any-price/

What to Expect for Crypto Under Trump's New Administration

A Moody’s digital assets expert outlines how a Trump administration and pro-crypto Congress could reshape U.S. crypto regulation, hinting at major industry impacts.

Expert Analysis: How Trump’s Victory Could Reshape Crypto Regulation

Cristiano Ventricelli, vice president for digital assets at Moody’s Ratings, discussed the potential implications of a Trump-led Republican administration on cryptocurrency regulation, suggesting a shift toward a more favorable environment for digital assets. President-elect Donald Trump recently won the election over Vice President Kamala Harris. In addition, over 280 pro-crypto candidates were elected to Congress. Ventricelli remarked:


He cautioned, however, that real legislative change will require bipartisan collaboration. “Any legislative advancements are contingent upon congressional action,” he clarified. “While Republicans may eventually control both the House and Senate, digital assets legislation will require bipartisan support, cannot be achieved through budget reconciliation, and it’s unclear the parties will reach a consensus in the short term.”

The anticipated leadership shift at the U.S. Securities and Exchange Commission (SEC) further underscores potential changes in the regulatory landscape. Trump has pledged to replace current SEC Chair Gary Gensler, who has been widely criticized by the crypto sector for his “regulation-by-enforcement” strategy, which many industry leaders view as an impediment to innovation. Coinbase CEO Brian Armstrong and others have called for a new SEC leader focused on transparency and a supportive regulatory framework. SEC Commissioner Hester Peirce, known in the industry as “Crypto Mom,” has received praise for her advocacy of a clear and innovation-friendly regulatory approach.

If Peirce opts not to pursue the chair role, Commissioner Mark Uyeda is viewed as a potential successor who might lead the SEC in a more crypto-friendly direction, aligning with Trump’s stated pro-innovation stance. This potential shift could mark a significant regulatory turn for the U.S. crypto industry.

Ventricelli concluded:


Source: https://news.bitcoin.com/what-to-expect-for-crypto-under-trumps-new-administration/