China Asset Management Exec Anticipates Hong Kong Spot Bitcoin ETFs to 'Exceed' US Debut

With the debut of spot bitcoin and ethereum exchange-traded funds (ETFs) in Hong Kong trading on Tuesday, market observers are speculating about the potential demand for these ETFs in the region, reminiscent of the enthusiasm seen in the U.S. following the approval of 11 spot bitcoin ETFs on Jan. 10. Zhu Haokang, head of digital asset management and family wealth at China Asset Management (China AMC), anticipates that the initial trading day could surpass the record-high volumes experienced in the United States.

Hong Kong Bitcoin ETF Launch Could Surpass U.S. Records, Says Zhu Haokang

Beijing’s Foresight News recently published an interview with China AMC executive Zhu Haokang and Wayne Huang, the Head of ETF and custody business at OSL. The China AMC executive believes that his firm’s fund will be the largest issuer among the three in terms of size and this will be revealed when trading begins. “There will be an announcement at HKEX tomorrow morning at 9:30,” OSL executive Huang confirmed.

Haokang was questioned about the distinctions between the executive’s fund and its competitors. “The first difference is that, unlike the U.S. Bitcoin spot ETF, we have spot and physical subscription and redemption,” the China AMC executive said. “Additionally, Huaxia’s products differ from the other two in two ways: Huaxia Fund’s Hong Kong spot ETF is the only one with counters in Hong Kong dollars, U.S. dollars, and renminbi. Secondly, besides the listed shares, we have unlisted shares. These are features the other two do not have.”

Huang explained to the reporter that offering a physical subscription represents an innovation for Hong Kong ETFs in comparison to U.S. ETFs. “It first requires the brokerage company to upgrade its license to handle virtual asset transactions. Investors send coins to OSL through this broker, and finally, transfer the equity back into the fund’s custody account to complete the entire physical subscription process,” the OSL executive noted.

Furthermore, correspondence sent to Bitcoin.com News from executives from Hashkey Capital and Bosera, explained that non-Hong Kong residents are eligible to invest in the Bosera Hashkey bitcoin and ether spot ETFs if they comply with Hong Kong’s regulatory standards, including customer due diligence requirements. This update arrives amid anticipations that Hong Kong’s ETFs might attract significant investment from mainland China.

“A likely approval of Hong Kong-listed bitcoin Spot ETFs could attract several billion dollars of capital as mainland investors take advantage of the Southbound Connect program,” Matrixport asserted three weeks ago. However, Bloomberg’s senior ETF analyst Eric Balchunas remarked two weeks ago that his team estimates they would be “lucky to get” total flows of about $500 million.

Source: https://news.bitcoin.com/china-asset-management-exec-anticipates-hong-kong-spot-bitcoin-etfs-to-exceed-us-debut/

Financial Squeeze Tightens for Bitcoin Miners as Earnings Continue to Fall

On Friday, Bitcoin’s hashprice was $56.95 per petahash per second (PH/s), but by Sunday, it had dropped to $51.66 per petahash. Over the last 100 blocks, bitcoin miners averaged about 3.55 BTC for each block they mined, indicating that bitcoin miners are receiving less than half a BTC per block in onchain fees.

Bitcoin Miners See Earnings Cut in Half

Bitcoin miners are currently earning significantly less BTC than before the halving event, and the high fees they previously enjoyed after block height 840,000 have been erased. These initial high fees may have provided some miners with enough financial buffer to withstand the current downturn in revenue. However, those who did not benefit from these fees might face tougher challenges ahead.

As of April 28 at 5 a.m. Eastern Time, Bitcoin’s hashprice, or the expected value of 1 PH/s of hashing power per day, was approximately $51.66 per petahash. Before the halving event, which reduced BTC’s block rewards from 6.25 BTC to 3.125 BTC, miners were earning over $100 per petahash per day. Regardless of perspective, miners have experienced a significant drop in revenue, akin to a drastic 50% off clearance sale.

The buffer gained post-halving has helped maintain a strong hashrate, although there has been a slight decrease, remaining above the 630 exahash per second (EH/s) mark. Data from blocks 840,849 to 840,949 showed an average reward of 3.83 BTC per block, but this figure fell in subsequent blocks. On April 27, between blocks 841,057 and 841,157, miners averaged 3.56 BTC, which includes the newly minted coins and fees. Between blocks 841,125 through 841,225, miners averaged 3.55 BTC.

In terms of financial runway, BTC miners hit a record in March, amassing over $2 billion in revenue, with approximately $85 million from onchain fees. April’s figures are also strong, with revenues at $1.67 billion and $269 million from onchain fees. With bitcoin’s price currently above $63,000 per unit and potentially declining further, miners may face increasing financial pressures. Prices falling below the $55,000 mark could further weaken revenue amid an already fragile market.

Source: https://news.bitcoin.com/financial-squeeze-tightens-for-bitcoin-miners-as-earnings-continue-to-fall/

Swiss National Bank Chief Raises Concerns About Adding Bitcoin to Currency Reserves

The chairman of the Swiss National Bank has expressed reservations about incorporating bitcoin into the central bank’s currency reserves. He stated that no decision has been made yet to invest in bitcoin, underscoring the necessity for currency reserves to be liquid, sustainable, and easily tradable, given their use in international payments.

Swiss National Bank on Adding Bitcoin to Currency Reserves

The chairman of the Swiss National Bank (SNB), Thomas Jordan, expressed skepticism at the central bank’s annual general meeting of shareholders on Friday about the prospect of the SNB purchasing bitcoins. This statement comes amid ongoing pressure from advocates to amend Swiss legislation to permit the inclusion of cryptocurrencies in the nation’s currency reserves.

Jordan noted that adding bitcoin to the Swiss National Bank’s reserve assets, which include gold, foreign currencies, bonds, and shares, could have potential downsides such as increased carbon emissions. He then highlighted the energy consumption associated with bitcoin mining and transactions. He said at the meeting:


A campaigning group headed by cryptocurrency advocate Yves Bennaïm has initiated a proposal to make a subtle yet significant amendment to a constitutional article. Currently, the article states that part of the Swiss National Bank’s reserves is “held in gold.” The proposed change seeks to modify it to “in gold and bitcoin.” Luzius Meisser, a campaigner from cryptocurrency broker Bitcoin Suisse, criticized the Swiss central bank for incurring significant losses on its investments in foreign government bonds, suggesting that investments in bitcoin could have yielded substantial profits instead.

Both Bennaïm and Meisser have argued that by including BTC in the SNB’s currency reserves, Switzerland would mark its independence from the European Central Bank (ECB), emphasizing that such a step would strengthen the country’s neutrality while also diversifying the SNB’s investment portfolio.

Source: https://news.bitcoin.com/swiss-national-bank-chief-raises-concerns-about-adding-bitcoin-to-currency-reserves/

Tesla Maintains Bitcoin Holdings — Balance Sheet Shows $184 Million in Digital Assets

Elon Musk’s electric car company, Tesla, has maintained its bitcoin holdings. The company’s Q1 balance sheet shows net digital assets of $184 million. According to crypto analytics firm Arkham, Tesla continues to hold onto its 11,509 bitcoins, which have a market value of over $745 million.

Tesla Holding Onto Its Bitcoin

Elon Musk’s electric car company, Tesla, has upheld its bitcoin holdings. According to its Q1 balance sheet, disclosed on Monday, Tesla reported that its net digital assets of $184 million remained unchanged since the fourth quarter of 2022. The company previously clarified that its digital assets primarily consist of bitcoin (BTC).

Although Tesla accepts the meme cryptocurrency dogecoin (DOGE) for certain merchandise, the company previously revealed that the quantity of dogecoin it holds is minimal.

Tesla invested $1.5 billion in BTC in Q1 2021 but sold 75% of its holdings in Q2 2022. Musk explained at the time that the company is “certainly open” to increasing its bitcoin holdings in the future, noting that the sale was due to concerns about the company’s overall liquidity, “given Covid shutdowns in China.”

Musk also recently disclosed that another of his companies, Spacex, also holds “a bunch of bitcoin.” Moreover, the billionaire himself owns “a bunch of” dogecoin alongside bitcoin and ether (ETH). Despite holding cryptocurrencies, Musk mentioned that he doesn’t spend a lot of time thinking about crypto. Furthermore, he stated in November of last year that none of his companies will ever create a crypto token.

According to crypto analytics firm Arkham’s onchain analysis, Tesla owns 11,509 BTC across 68 addresses. As of writing, the price of bitcoin stands at $64,735, indicating that Tesla’s bitcoin holdings are presently valued at over $745 million.

Source: https://news.bitcoin.com/tesla-maintains-bitcoin-holdings-balance-sheet-shows-184-million-in-digital-assets/

Noones CEO Ray Youssef Blasts Bitcoin Fees: 'We Have Failed the Global South'

Ray Youssef, the former Paxful CEO, has commented on the negative impact of high transaction fees on bitcoin adoption in emerging markets. Youssef stated on social media that the recent developments in the bitcoin fee market have pushed users to alternatives such as USDT on the Tron blockchain over bitcoin in Global South countries.

Noones CEO Ray Youssef Criticizes Bitcoin’s High Transaction Fees: ‘We Have Failed the Global South’

The issue of high fees has opened a debate about the current adoption of bitcoin in emerging markets. Ray Youssef, the former CEO of peer-to-peer exchange Paxful and current CEO of Noones, a peer-to-peer crypto marketplace and messenger, has criticized the negative effect that the current state of the fee market has had on Bitcoin adoption, mostly in emerging markets.

Youssef took it to social media to criticize how the fee market is causing bitcoiners in emerging markets to flee to other platforms to transact value, abandoning the original ethos of Bitcoin. He declared:


He remarked that the promise of Bitcoin was being substituted by Tether’s USDT, the largest stablecoin in the cryptocurrency market, on the Tron blockchain. Youssef said that USDT was replacing the store of value and medium of exchange properties of Bitcoin in the global south.

“70% of the world’s population growth shall come from there and they already have 80% of the world’s population. So who exactly is bitcoin serving as a store of value,” he criticized.

Youssef specifically referred to a user who tried to send $1 onchain, only to find out the fee for sending it was $55. “Listen to a King of the Global South. Bitcoin is supposed to be freedom money for the 100%,” he stated. Youssef also showed a conversation with another bitcoiner who complained he had to spend $33 in fees to send $33.

While fees have decreased, the issuance of Runes just after the Bitcoin halving took transaction fees to historic highs of over $200, affecting the feasibility of making small payments.

Source: https://news.bitcoin.com/noones-ceo-ray-youssef-blasts-bitcoin-fees-we-have-failed-the-global-south/

Bitcoiners Seek Constitutional Reform to Allow Swiss National Bank to Purchase Bitcoin

Yves Bennaïm, founder and chair of 2B4CH, a Swiss pro-Bitcoin think tank, is launching a popular initiative to amend the country’s constitution to allow its central bank to purchase and hold bitcoin. The initiative is also supported by Bitcoin Suisse President Luzius Meisser, who believes the bank should add bitcoin to its reserves.

A Reform for Bitcoin: Swiss Bitcoiners Seek to Empower National Bank to Purchase Bitcoin

The idea of Bitcoin as a reserve asset and hedge against geopolitical conflicts is taking shape. Yves Bennaïm, founder and chair of 2B4CH, a Swiss pro-Bitcoin think tank, is proposing to launch a popular consultation to change the constitution and include bitcoin as part of the assets that the Swiss National Bank (SNB) can hold.

The idea behind this proposal is to protect Switzerland’s sovereignty and neutrality and to shield the country from uncertainties in the economic arena. Bennaïm stated that the preparations for this initiative were already taking shape. In an interview with NZZ, he declared they were “preparing the documents that must be submitted to the State Chancellery to start the process.”

The proposed amendment would modify an article that states that the central bank “creates sufficient currency reserves from its earnings; part of these reserves is held in gold,” to read as “part of these reserves held in gold and bitcoin.”

Bennaïm is not alone in this crusade, as he has rallied the support of other bitcoiners in the country. Luzius Meisser, President of asset manager Bitcoin Suisse, will also push for this initiative during the next bank’s general assembly.

He stated:


A similar proposal was disregarded by the SNB in 2022 when Meisser and others suggested that the bank could buy Bitcoin at the expense of German bonds. At the time, Thomas Jordan, Chairman of the governing board of the SNB, stated that bitcoin didn’t fulfill the requirements to be a currency reserve. Nonetheless, proponents of this consultation bet that the recent approval of bitcoin ETF instruments in the U.S. and Hong Kong can change the bank’s stance.

Source: https://news.bitcoin.com/bitcoiners-seek-constitutional-reform-to-allow-swiss-national-bank-to-purchase-bitcoin/

NFT Sales Dip by Over 25% as Bitcoin Dominates a Cooling Market

Recent data over a seven-day period ending April 21, 2024, shows that non-fungible token (NFT) sales have declined by 25.48%, totaling approximately $236.96 million. Bitcoin dominated the NFT market this week, contributing $111.8 million to the overall sales since April 14.

NFT Sales Tumble

This week, NFT revenues fell 25.48% compared to the previous week. Losses affected four of the top five blockchain platforms in NFT transactions. Bitcoin maintained the lead with $111.8 million, though its sales fell by 35.63%, as reported by cryptoslam.io. Ethereum also experienced a decrease, with sales falling 20.38% to $49.58 million. Solana’s sales dropped by 17.13% to $34.82 million, whereas Polygon bucked the trend with a 33.21% increase, bringing in $15.4 million in sales.

NFT Sales Dip by Over 25% as Bitcoin Dominates a Cooling Market

Mythos ranked fifth in this week’s sales, bringing in $6.56 million, a decline of 8.07% from the previous week. Bitcoin’s Uncategorized Ordinals was the leading collection with $32.89 million in sales, although it saw a 42.26% decrease from the prior week. The WZRD BRC20 collection came in second, logging $21.05 million in sales, a more than 160% increase from last week.

The third-highest grossing collection was PUPS BRC20, which garnered $14.96 million in sales, marking a 64.91% decrease from last week. Four of the top five collections originated from the Bitcoin blockchain. The most expensive NFT sold this week was a BTC-based NFT from the PUPS BRC20 collection, fetching $317,718. The second priciest was an Ethereum-based Cryptopunk # 4,473, which sold for $231,801.

As the NFT market cools, its fluctuations reflect broader trends in non-fungible token engagement and NFT technology adoption. This week’s downturn underscores a volatile but intriguing landscape, where even dominant platforms like Bitcoin led but still faced sharp declines. Amid these shifts, innovative collections and standout sales continue to captivate enthusiasts, suggesting a persistent allure despite the overall market’s ebb and flow.

Source: https://news.bitcoin.com/nft-sales-dip-by-over-25-as-bitcoin-dominates-a-cooling-market/

Bitcoin Miner Rewards Shrink Below Pre-Halving Levels as Network Fees Fall Sharply

After experiencing a period of high fees, onchain transfer costs on the Bitcoin network have decreased significantly. On Friday, the fees peaked at $240 per transaction, but by now they have fallen to just $11.06 each. Since reaching block height 840,179, miners are now earning less bitcoin in rewards compared to before the halving event at block 840,000.

Miners Now Earn Less Bitcoin Than Before Recent Halving

Initially, following the halving, the average onchain fee soared to over $240 per transaction around 9 p.m. EDT on Friday. As of 8 a.m. EDT on Sunday, the cost for a high-priority transaction has settled at 121 satoshis per virtual byte (sat/vB) or $11 per transfer. Concurrently, bitcoin’s trading price stands at $65,300 per unit at 8 a.m. EDT as well.

In the early stages after block 840,000, bitcoin miners secured nine of the ten highest fees ever recorded on BTC blocks. They accumulated an impressive 1,087.99 bitcoins in fees alone during the first 93 blocks post-halving. However, by 8 a.m. on Sunday, this high-earning trend appeared to have halted. Post block 840,179, the reward in BTC for miners has diminished.
Bitcoin Miner Rewards Shrink Below Pre-Halving Levels as Network Fees Fall Sharply

Bitcoin’s hashprice, the value of 1 petahash per second (PH/s) of daily hashrate, has dropped sharply from $183 per PH/s on April 20 to $114 per PH/s as of 7 a.m. EDT on Sunday, April 21. Before the halving, block rewards included 6.25 BTC plus transaction fees, averaging about 6.776 BTC between block heights 839,848 to 839,900. Now, the average has dropped to approximately 5.105 BTC per block after the decrease in fees or since block height 840,179.

Bitcoin miners enjoyed a short-lived advantage where, for nearly two days, block rewards yielded much higher returns than before the halving. Miners fortunate enough to operate between blocks 840,000 and 840,179 reaped an average of 12.867 BTC per block. It appears the Runes protocol‘s impact has lessened by Sunday, with onchain transactions now predominantly involving more financial exchanges, as people take advantage of the lower fees compared to the previous overflow of transfers using the OP_RETURN function.

Source: https://news.bitcoin.com/bitcoin-miner-rewards-shrink-below-pre-halving-levels-as-network-fees-fall-sharply/

Coinbase Challenges SEC’s Definition of 'Investment Contracts' in Crypto Transactions

In a recent legal challenge, Coinbase has filed a brief with the Southern District of New York, seeking permission for an interlocutory appeal against the U.S. Securities and Exchange Commission’s expansive interpretation of what constitutes an “investment contract” in digital asset transactions. This pivotal case could set significant precedents for the cryptocurrency industry in the United States.

Coinbase Argues Against SEC’s Broad Interpretation of Investment Contracts

In its latest brief, Coinbase argues that the U.S. Securities and Exchange Commission’s (SEC) application of the term “investment contract” to various cryptocurrency transactions exceeds the legal bounds set by Congress. According to the company’s court filing, this overreach could stifle innovation and place a heavy burden on the digital asset sector, which is a vital part of the modern financial ecosystem. The core of Coinbase‘s argument hinges on the necessity for an “investment contract” to involve explicit contractual obligations post-transaction, which the SEC’s current stance does not seem to require.

“The not-at-all funny thing is, we’re not alone in thinking the question of when a crypto transaction might be an ‘investment contract’ warrants interlocutory appeal,” Coinbase’s chief legal officer Paul Grewal wrote on X. The Coinbase legal chief added:


The outcome of this appeal could have profound implications across the cryptocurrency landscape. The lack of clarity on regulatory requirements poses challenges to other digital asset companies, potentially leading to inconsistent compliance practices and uneven regulatory enforcement. A decision in favor of Coinbase could lead to a more defined regulatory framework that might encourage innovation while ensuring consumer protection.

The SEC maintains that its approach is justified, based on existing securities laws. However, this interpretation has been met with opposition not only from Coinbase but also from other market participants and legal experts who argue that this broad interpretation could miscategorize many digital assets as securities. This has sparked a broader discussion about the need for updated regulations that specifically address the unique characteristics of digital assets.

Source: https://news.bitcoin.com/coinbase-challenges-secs-definition-of-investment-contracts-in-crypto-transactions/

Finde ich nicht weiter schlimm. Zumindest ist es jetzt öffentlich bekannt, dass die sowas auch speichern. Wer weiß was andere Firmen noch sammeln was vielleicht gar nicht öffentlich bekannt ist!

Wer bedenken hat kann Privacy Wallets, Coins und Protokolle nutzen.

Robert Kiyosaki Explains Why He Won't Buy Bitcoin ETF

Rich Dad Poor Dad author Robert Kiyosaki has explained why he won’t invest in a spot bitcoin exchange-traded fund (ETF). “Just as I own gold and silver coins and mines and own apartment houses, I do not own gold or silver ETFs,” he stressed. The famous author stated this week that he believes the price of bitcoin will reach $2.3 million.

Robert Kiyosaki Won’t Buy Spot Bitcoin ETFs

While demand for spot bitcoin exchange-traded funds (ETFs) is soaring in the U.S., the author of Rich Dad Poor Dad, Robert Kiyosaki, has explained why he will not invest in spot ETFs. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.

He wrote on social media platform X on Friday: “Q: Will you buy the bitcoin ETF?” He then answered his own question:


“ETFs are best for most people and institutions. Personally, I am an entrepreneur and prefer to stay as far away from Wall Street’s financial products as possible,” he added. “Packaging my own financial products is best for me because packaging my own securities requires me to be smarter than most ETF buyers. It is what is best for me. If I F’ up, I have no one to blame but me. The more important question is ‘What is best for you.’”

Despite his current stance against spot bitcoin ETFs, Kiyosaki previously advocated for them as an alternative for investors hesitant to buy actual bitcoin. Recently, Shark Tank star Kevin O’Leary, aka Mr. Wonderful, also reiterated his view that he will not buy a spot bitcoin ETF. “I would never do that. Why would I pay the fees? There’s no added value to an ETF. I just own the coin directly,” he emphasized.

Kiyosaki calls himself a bitcoin bull. He revealed this week that he believes the price of bitcoin will reach $2.3 million, citing a prediction by Ark Invest CEO Cathie Wood. Last week, he responded to a prediction by economist Harry Dent stating that the price of bitcoin could crash to $200. “If bitcoin drops to $200 per coin I will buy as many coins as I can,” he affirmed.

The renowned author has also intensified his advice for investors to ditch the U.S. dollar to buy bitcoin alongside gold and silver. He views BTC as the perfect asset at the right time while calling the USD a “giant Ponzi scheme.” Earlier, Kiyosaki predicted that the price of bitcoin would hit $100K by September, emphasizing the importance of the halving. He also stated that BTC is headed for $300K this year.

Source: https://news.bitcoin.com/robert-kiyosaki-explains-why-he-wont-buy-bitcoin-etf/

Chinese Fraud Victims Seek Government Aid in Recovering 61,000 BTC Seized by UK Law Enforcement

A group of Chinese victims of a $6 billion fraud scheme have requested assistance from their country’s foreign ministry in recovering 61,000 bitcoins, seized from a fraudster and her associate. The fraud victims have strongly opposed attempts to transfer the ownership of these bitcoins to the U.K. government.

Petition Garners More Than 2,500 Signatures

A group of Chinese victims of an over $6 billion fraud scheme, orchestrated by Tianjin Lantian Gerui Electronic Technology, have appealed to the country’s foreign ministry for assistance in recovering more than 61,000 bitcoins thought to have been bought with their funds. The group, which has gathered over 2,500 signatures, reportedly made a similar plea to China’s public security ministry.

As reported by Bitcoin.com News, the 61,000 bitcoins were recovered following a 2018 raid on the residence of Jian Wen, a British-Chinese woman, and her employer, Zhimin Qian. While Qian has since vanished, Wen was arrested and a U.K. court recently convicted her on charges of entering into money laundering arrangements.

According to a report by the Financial Times, the group is urging relevant Chinese authorities to engage with U.K. judicial departments and to submit “evidence” supporting their claim to the seized bitcoins. The U.K.’s Crown Prosecution Service (CPS) has reportedly initiated civil proceedings to confiscate the bitcoins.

This process could result in half of the seized bitcoins being allocated to the police and the other half to the Home Office, provided no one comes forward to claim the cryptocurrency. However, in their letter sent to the two Chinese ministries, the victims expressed strong opposition to attempts to transfer ownership of the bitcoins to the UK government.

“There is no time to lose. We do not want, and will never accept, a situation where bitcoins are confiscated by the U.K. and not returned to us,” the fraud victims said.

Chinese authorities have launched a task force in response to a fraud scheme that is believed to have attracted more than 207,000 investors. The task force has reportedly reimbursed victims 8% and 5% of their investment capital, totalling $309 million, from the seized assets of the fraudulent entity.

However, this amount falls significantly short of the more than $6.2 billion lost by investors or the value of recovered bitcoins.

Source: https://news.bitcoin.com/chinese-fraud-victims-seek-government-aid-in-recovering-61000-btc-seized-by-uk-law-enforcement/

Gold (and silver) and Bitcoin are storing value better.

Having some physical precious metals and cash is nice if there is a widespread power outage.

Fiat money is convenient because it's widely accepted.

$10.5 Trillion Asset Manager Blackrock's Spot Bitcoin ETF Now Holds 270K BTC

Blackrock, the world’s largest asset manager, shattered its record for assets under management (AUM), reaching a staggering $10.5 trillion. This financial behemoth also continues to dominate the U.S. spot bitcoin ETF market with its Ishares Bitcoin Trust (IBIT), which has amassed nearly 270K bitcoins.

IBIT Has Amassed Nearly 270K Bitcoins

Blackrock, the world’s largest asset manager, released its financial results on Friday for the first quarter ended March 31, showing a record $10.5 trillion in assets under management (AUM), an increase of $1.4 trillion from the previous year.

The asset manager’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), has maintained a dominant position in the U.S. spot bitcoin ETF market. As of April 11, IBIT’s bitcoin holdings stood at approximately 269,314 BTC, with a notional value of over $18.9 billion.

Larry Fink, CEO of Blackrock, recently said that IBIT is “the fastest growing ETF in the history of ETFs.” He added that he is “very bullish on the long-term viability of Bitcoin” and is “pleasantly surprised” by the retail demand for Blackrock’s spot bitcoin ETF.

Last week, Blackrock filed an amendment to its IBIT prospectus, revealing that the fund now has nine authorized participants. They are ABN AMRO Clearing USA, Citadel Securities, Citigroup Global Markets, Goldman Sachs, Jane Street Capital, JP Morgan Securities, Macquarie Capital (USA), UBS Securities, and Virtu Americas.

Blackrock has also filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a spot ether ETF. Despite some optimism surrounding potential SEC approval of spot ether ETF applications by May’s deadline, skepticism is growing. Jan Van Eck, CEO of investment firm Vaneck, recently expressed his doubts, anticipating the rejection of his firm’s application in May.

Moreover, there are reports that the SEC may be trying to classify ether as a security. Fink, however, believes that even if ETH is classified as a security, Blackrock can still launch a spot ether ETF.

On Thursday, financial technology firm and stablecoin provider Circle introduced smart contract capabilities aimed at enabling holders of the Blackrock USD Institutional Digital Liquidity Fund (BUIDL) to exchange their shares for USDC through Circle.

Source: https://news.bitcoin.com/10-5-trillion-asset-manager-blackrocks-spot-bitcoin-etf-now-holds-270k-btc/

Cleanspark to Upgrade Mining Fleet With 100,000 S21 Pro Bitcoin Miners From Bitmain

The publicly traded bitcoin mining company Cleanspark has exercised its option to acquire 100,000 bitcoin mining machines from Bitmain. The firm initially secured the option last year, and the agreement has now been enhanced to include the latest S21 Pro model from Bitmain, which offers 15 joules per terahash (J/T).

Bitmain and Cleanspark Seal Deal for 100,000 High-Efficiency Miners

On Friday, Cleanspark (Nasdaq: CLSK) disclosed that its operations have surpassed a total hashrate of 17 exahash per second (EH/s). Back in January 2024, the company announced the acquisition of 60,000 application-specific integrated circuit (ASIC) bitcoin mining rigs and mentioned its right to purchase an additional 100,000 S21 Antminers at a set price of $16 per terahash. This was prior to the release of the Antminer S21 Pro, known for its enhanced efficiency of 15 J/T.

Cleanspark has amended the deal, enabling the purchase of the S21 Pro units at the unchanged price of $16 per terahash, offering a significant improvement in BTC mining efficiency. The total investment for acquiring these 100,000 Antminers is estimated at $374 million. By opting for the S21 Pro, Cleanspark anticipates a 17% increase in hashrate, approximately an additional 3.4 EH/s compared to the former S21 models.

“Efficiency is the most important variable as we head into the halving,” Zach Bradford, the CEO of Cleanspark commented on Friday. “With the upgrade to the new S21 Pro, we expect that we have cemented our lead as the most efficient publicly traded bitcoin miner at scale in North America. Our extraordinary scale has allowed us to make meaningful gains in our bitcoin production without having to increase the energy use of our data centers.”

Bradford also noted that post-halving, many older and less efficient units will likely be phased out, thus naturally boosting his company’s market share. He pointed out that more efficient machines also reduce the overall energy consumption of the Bitcoin network. According to the agreement, the new S21 Pros are expected to be delivered between June and December 2024.

Source: https://news.bitcoin.com/cleanspark-to-upgrade-mining-fleet-with-100000-s21-pro-bitcoin-miners-from-bitmain/

43 Bitcoin Projects Secure Key Funding in 2024 Attracting Over $127 Million

Since the onset of 2024, the Bitcoin ecosystem has seen an influx of capital flowing into startups. Data gathered by Coin98 Analytics from the web portal crypto-fundraising.info, reveals that over the past few months, 43 Bitcoin-centric projects have secured funding from key investors.

Startups Dedicated to the Bitcoin Ecosystem Gather Significant Capital Injections

A fresh wave of capital is finding its way into the crypto world, with a laser focus on Bitcoin. On April 10, the crypto analytics team from Coin98 Analytics unveiled an infographic illustrating that 43 projects dedicated to the Bitcoin ecosystem have successfully attracted funding from prominent investors. The data was sourced from crypto-fundraising.info, an online portal that highlights fundraising activities in the crypto space.

“43 projects within the Bitcoin ecosystem successfully raised funding from major investors,” the X post said. “Among them, only a few projects have launched tokens, while the rest are promising projects yet to announce tokens. Keep an eye on them”


Infographic shared by Coin98 Analytics
Crypto-fundraising.info data reveals that 43 unique initiatives focusing on Bitcoin have collectively garnered $127.19 million in funding. Take Alpen Labs, for example, which recently emerged from stealth mode and announced a $10.6 million funding round. Similarly, Ordinalsbot secured $3 million in a seed funding round from a select group of investors. In March, Bitlayer attracted $5 million from its investors, while Mezo just recently secured $23 million to further its development on Bitcoin.

The infographic from Coin98 Analytics categorizes these startups into various segments, including layer two (L2) projects such as Bitflow, Chainway, and Merlin Chain. It also showcases wallets like Unisat and Oyl, alongside staking protocols such as Babylon and Bouncebit. Other highlighted areas include gaming, decentralized finance (defi), bridges, APIs, launchpads, and marketplaces for non-fungible tokens (NFTs), among others.

Crypto-fundraising.info also highlights a diverse group of backers for these initiatives, including Castle Island Ventures, Geometry Research, Okx Ventures, Ribbit Capital, Pantera, Framework, Maven Capital, Portal Ventures, UTXO Management, Starkware, and Arrington Capital, among many others. Numerous other Bitcoin-focused ventures have indicated that while their fundraising announcements are pending, they anticipate these developments will occur shortly.

Source: https://news.bitcoin.com/43-bitcoin-projects-secure-key-funding-in-2024-attracting-over-127-million/

Rich Dad Poor Dad Author Robert Kiyosaki Believes Bitcoin Price Will Reach $2.3 Million

Rich Dad Poor Dad author Robert Kiyosaki says he believes that the price of bitcoin will reach $2.3 million, citing a prediction by Ark Invest CEO Cathie Wood. Meanwhile, he said stock, bond, and real estate markets are “set to crash,” and he expects the U.S. to go bankrupt.

Robert Kiyosaki Foresees Bitcoin Hitting $2.3 Million

The author of Rich Dad Poor Dad, Robert Kiyosaki, has reaffirmed his bullish stance on bitcoin. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.

He explained on social media platform X Wednesday that Ark CEO Cathie Wood has predicted that bitcoin will hit $2.3 million per BTC. “Do I believe her? Yes I do,” the famous author wrote, noting that Wood is “very smart” and he trusts her opinion.

“Could she be wrong? Yes. She could be. So what? The more important question is ‘What do you believe?’ … And most importantly: ‘How many bitcoin do you own?'” he shared, emphasizing that if Wood is right, he would wish that he bought more BTC. Nonetheless, he stressed:


“I suggest ‘Live dangerously.’ If you can afford $.01 bitcoin… you will be better educated, smarter, wiser when it comes to bitcoin,” he opined.

Wood and her asset management firm, Ark Invest, have made a bullish BTC price prediction that is even higher than what Kiyosaki quoted. “We put our bull case for bitcoin at $1.5 million,” the Ark CEO recently said, adding that “If institutional investors were to allocate a little more than 5% of their portfolios to bitcoin, that alone would add $2.3 million” to her firm’s $1.5 million projection.

In addition to the surging demand for spot bitcoin exchange-traded funds (ETFs), Wood recently highlighted other factors that are driving the price of bitcoin higher. She said the cryptocurrency is a hedge against currency devaluations and wealth erosions. “I think this is an insurance policy against rogue regimes or against just horrible fiscal and monetary policies,” she detailed, attributing the recent bitcoin price surge to a “flight to safety.”

Kiyosaki has also repeatedly warned about markets crashing. “The Everything Bubble, stocks, bonds, real estate set to crash. U.S. debt increasing by $1 trillion every 90 days. U.S. bankrupt. Save yourself. Please buy more real gold, silver, bitcoin,” he wrote on X Sunday.

Last week, he responded to a prediction by economist Harry Dent stating that the price of bitcoin could crash to $200. “If bitcoin drops to $200 per coin I will buy as many coins as I can,” he affirmed. The renowned author has also ramped up his advice for investors to ditch the U.S. dollar to buy bitcoin alongside gold and silver. He sees BTC as the perfect asset at the right time while the USD is a “giant Ponzi scheme.” Earlier, Kiyosaki predicted that the price of bitcoin would hit $100K by September, advising people to pay attention to the halving. He also stated that BTC is headed for $300K this year.

Source: https://news.bitcoin.com/rich-dad-poor-dad-author-robert-kiyosaki-believes-bitcoin-price-will-reach-2-3-million/

US Senator Says 'So Much Appeals to Me About Bitcoin'

U.S. Senator Marsha Blackburn has revealed that there is “so much that appeals” to her about bitcoin. She explained that as we move forward and people are more comfortable with the cryptocurrency, “there will be more transactions in your daily life where bitcoin is accepted as a form of payment.”

Senator Blackburn on Benefits of Bitcoin

U.S. Senator Marsha Blackburn (R-TN), a consumer rights and privacy advocate, answered some questions about bitcoin in a fireside chat at Bitcoin Policy Summit on Tuesday.

The senator was asked what appeals to her about Bitcoin, considering her background in advocating for consumer rights and privacy. She replied:


“First of all, when you talk about freedom and you talk about privacy, Bitcoin allows that for individuals,” she described, adding: “Also, the decentralized nature of it — no government interference — and that is important to people.”

Senator Blackburn brought up Afghanistan as an example where some people are “less trusting of government structures” and “less trusting of Fiat currencies,” she detailed. “They want something that is going to be a good solid store of value. This is a great option for them … People want to be able to have that control over the use of their currency.” The lawmaker from Tennessee continued: “When you look at the facts that there is an ease of use to bitcoin, that is something else that people like.”

She further shared: “One of the hot issues on Capital Hill right now is increasing the processing fees for credit cards. And people are beginning to look at how expensive it is to use credit cards. So this provides them another option where they’re not burdened with having to pay that swipe fee.”

Noting that she has “worked for years on the issues of consumer rights and consumer protection,” the senator stressed that bitcoin “is a really good solid option.” She concluded:


Source: https://news.bitcoin.com/us-senator-says-so-much-appeals-to-me-about-bitcoin/

Lawmaker Highlights 2 Bills to Make US a Crypto Leader — Says Bitcoin Is 'Unstoppable'

Congressman Patrick McHenry says bitcoin is unstoppable and every regime that’s tried to shut it down has failed. He emphasized that the U.S. must become a leader in digital assets, noting that two congressional bills offer a path toward clear regulations.

Two Pieces of Legislation Could Provide Greater Clarity in Digital Assets

Congressman Patrick McHenry (R-NC) discussed bitcoin and crypto legislation in a fireside chat at the Bitcoin Policy Summit 2024 on Tuesday.

He began by highlighting the unstoppable nature of Bitcoin, pointing out that “Even the Chinese Communist Party that tried to shut down Bitcoin couldn’t.” Noting that Satoshi Nakamoto brought Bitcoin into this world, the lawmaker emphasized:


“So, it is an unstoppable piece of technology that I’m trying to convince policymakers on the Hill to embrace and for the United States to be leaders in rather than fall behind,” McHenry stressed.

“We need the United States to be leaders in this generation of technology rather than falling behind,” the congressman continued. He then outlined what the U.S. must do to become a leader in the crypto industry. “First, there’s no definition. We have IRS putting out rulings on the tax consequences of owning bitcoin,” he said, adding:


McHenry, chair of the House Financial Services Committee, then highlighted two bipartisan bills passed by his committee last year.

The first bill he mentioned was the FIT for the 21st Century Act, which passed out of the committee in July last year. “Number one is the FIT 21 Act, authored and led by [Congressman] French Hill, which provides that clarity of the definition of a digital asset,” McHenry described, elaborating: “It would state clearly what is a commodity, what is a security, and for digital assets, it would create a means of exchange.”

The second bill was the Clarity for Payment Stablecoins Act, which the House Financial Services Committee also passed in July last year. “We have a second piece of legislation that provides clarity on what is a stablecoin under a federal regime, modeled after the New York State law defining a stablecoin,” McHenry explained, elaborating:


The Congressman emphasized these bills aim to “put the U.S. back in the game” in both Bitcoin and the “broader set of digital assets.”

Source: https://news.bitcoin.com/lawmaker-highlights-2-bills-to-make-us-a-crypto-leader-says-bitcoin-is-unstoppable/

Next Bitcoin Halving to Propel Prices to Between $150,000 and $169,000, Says Bitfinex

A new analysis by Bitfinex researchers predicts a 160% surge in bitcoin’s price in the upcoming 12-14 months, potentially reaching over $150,000 per unit. This forecast, derived from historical data and statistical models related to previous Bitcoin halving events, suggests a bullish future for the world’s leading digital currency.

Bitfinex Researchers See Bitcoin Soaring Past $150,000 in 12-14 Months

Bitfinex’s Alpha report delves into Bitcoin’s past halving events since the first one in 2012, employing a regression model to forecast the potential impact of the upcoming halving. Despite acknowledging the simplicity of their model, researchers argue for a significant upswing in bitcoin’s value, projecting it to hit between $150,000 and $169,000. This optimistic outlook is tempered by the recognition of unprecedented market dynamics, such as pre-halving all-time highs and increased selling pressure from both long-term and short-term BTC holders.

The Alpha report states:


The report highlights the consolidation phase BTC is currently experiencing, with prices fluctuating between $65,000 and $71,000. This period of volatility is punctuated by significant buying activity from short-term holders, including new spot buyers and U.S. spot exchange-traded funds (ETFs), which have absorbed nearly 900,000 BTC released by long-term holders since the start of the year. This shift underscores the evolving dynamics of bitcoin ownership and the growing influence of institutional investments on its market price.

Adding a layer of complexity to bitcoin’s trajectory are broader macroeconomic indicators. The Alpha report points to robust job market growth and wage increases in the U.S., which could influence the Federal Reserve’s interest rate decisions. Such economic conditions, coupled with Federal Reserve Chair Jerome Powell’s recent statements on inflation and monetary policy, provide a backdrop against which BTC’s post-halving performance must be considered.

Beyond the U.S. market, Bitfinex’s analysis touches on global developments affecting the cryptocurrency space, such as South Korea’s impending stricter regulations for crypto exchanges and Australia’s steps toward launching its first bitcoin ETF. These international movements, alongside innovations in banking services for stablecoin issuers in Hong Kong, reflect a maturing market increasingly influenced by regulatory and institutional actors.

“The decision to list the ETF on Cboe Australia is seen as providing greater confidence to regulators that the fund will be trading on an exchange that is part of Cboe Global Markets, one of the best known international markets,” Bitfinex researchers conclude.

Source: https://news.bitcoin.com/next-bitcoin-halving-to-propel-prices-to-between-150000-and-169000-says-bitfinex/