On the 15th anniversary of the release of the Bitcoin white paper, Canadian MP Joël Lightbound took the opportunity to speak in the Canadian Parliament to thank the anonymous creator Satoshi Nakamoto and advocate for people to study Bitcoin.
When speaking in parliament, Lightbound revealed that he also owns Bitcoin, but will not advocate for people to buy Bitcoin, but will advocate for research into Bitcoin.
He added that Bitcoin was born during the financial crisis. Over the years, Bitcoin has helped thousands of families avoid the tragedy of currency devaluation, and it represents the ideal of true progress.
MicroStrategy released its Q3 2023 earnings report, showing the purchase of an additional 155 BTC in October for $5.3 million.
As of October 31, 2023, MicroStrategy held a total of 158,400 Bitcoins at a total cost of $4.69 billion, or $29,586 per Bitcoin.
The report shows that MicroStrategy’s total revenue in the third quarter reached US$129.5 million, a year-on-year increase of 3%, software licensing revenue was US$45 million, a year-on-year increase of 16%, and subscription service revenue was US$21 million, a year-on-year increase of 28%.
Laevitas.ch data shows that Ethereum futures contango, which measures the difference between the two-month contract and spot prices, has reached its highest level in more than a year.
In a healthy market, annualized premiums or basis rates should typically be in the 5% to 10% range. The data points to growing demand for leveraged ETH long positions.
The futures contract premium surged from 1% on October 23 to 7.4% on October 30, surpassing the 5% neutral to bullish threshold. The spike in the metric came after ETH prices rose 15.7% in two weeks.
Citing data from IntoTheBlock, the number of large-value transactions (valued greater than $100,000) on the BTC chain rose in tandem with the currency price last month, reaching a new high for the year.
This seems to mean that institutional interest in BTC is increasing (positively affected by ETF news), and a similar drama also occurred in June this year (BlackRock submitted an application for an ETF).
Jurrien Timmer, global macro director at Fidelity Investments, said that although Bitcoin is often compared to gold, its value is growing faster than gold.
He believes: “In my opinion, Bitcoin is a commodity currency that aspires to be a store of value and a hedge against currency devaluation. I view it as exponential gold.”
In 2021, Jurrien Timmer said that he expected Bitcoin to gradually gain more market share from gold, and predicted that the price of Bitcoin would reach $100,000 by 2023.
After DAI’s USDC reserves (which need to be at least over $200 million to be considered safe) came close to falling below $60 million earlier today, MakerDAO moved $250 million from Coinbase to DAI’s Pegged Stability Module (PSM) for use in maintaining the peg. .
It is reported that PSM is a collateral pool that allows users to mint USDC in exchange for DAI at a 1:1 ratio and arbitrage DAI back to the US dollar.
If PSM’s reserves are depleted, the price of DAI could go above or below $1.
Bitfinex analysts said that the increase in Bitcoin market liquidity over the past four months is an encouraging sign for the continued price recovery.
Analysts said the increased liquidity gave traders confidence they could find buyers for their holdings.
Thereby reducing investment risk and signaling increased demand for the asset, it said, adding that this was welcomed by high-priced traders and institutions who preferred an asset class that offered exposure and exit without high spreads.
David Lawant, director of research at Flacon X, also believes that increased Bitcoin liquidity is a positive sign for the digital asset.
Ryan Rasmussen, an analyst at asset management company Bitwise, said in an interview that spot Bitcoin ETFs could bring in inflows of up to $50 billion to $100 billion in the next five years and could have a huge impact on Bitcoin prices.
He also said that the SEC is expected to approve the ETF application as early as this December holiday, and Bitwise is one of the many applicants.
An executive at Pantera Capital said there will be a shift in the stablecoin space as providers need to offer money market yields to remain competitive.
BTC and ETH, while extremely successful, have not lived up to many people’s initial expectations for cryptocurrencies.
Fifteen years after the release of the BTC white paper, BTC’s lack of speed and scalability undermines its status as a good alternative to currency.
According to cryptoslam data, NFT sales on the Bitcoin chain reached $16,468,621.69 in October, an increase from August ($11,915,930.74) and September ($14,739,931.12).
In addition, the NFT transaction volume on the Bitcoin chain reached 51,187 in October, including 12,325 independent buyers and 12,276 independent sellers.
Revoke.cash founder Rosco Kalis said that as long as scams and hacking are prevalent in the crypto industry, it will be difficult to attract enough new users to make cryptocurrencies mainstream.
This trend will continue until cryptocurrency users fully understand how the industry operates. Addressing this common problem requires educating new crypto users on industry-specific security topics.
A better solution is to give users the right tools to protect themselves without spending too much time on education.
Tools that can enable pre-trade checks warn users of what their trade will do, making it easier to understand what the user is doing.
Brian Quintenz, director of policy at a16z, posted on social platforms that the UK Treasury has issued a conclusive statement on the regulatory system for crypto assets, and it is exciting.
Andrew Griffith MP, Economic Secretary to the UK Treasury, has made the government’s interest in embracing blockchain and crypto innovation very clear, and the government’s ambition to make the UK a global hub for crypto asset technology remains firm.
Now, with the future regulatory framework clearly outlined and the Financial Services and Markets Act having been passed, the UK is set to start and expand crypto asset businesses.
According to the picture published by Sir Doge of the Coin on the X platform, a poster at the entrance of a store shows that there is a Bitcoin ATM machine in the store.
In response, Dogecoin co-founder Billy Markus commented that this is a lie.
Sir Doge of the Coin responded: “(They) are useless at all, haha,” implying that it cannot use Bitcoin ATMs normally.
CoinATM Radar data shows that there are currently approximately 27,032 Bitcoin ATMs in the United States. Furthermore, the number of Bitcoin ATMs is growing at a rate of 3.7 per day.
In testimony, U.S. prosecutors asked SBF: “Did you decide to spend billions of dollars on venture capital decisions in 2021 and 2022?”
SBF responded: “I think a few billion dollars of it was my decision.”
SBF also acknowledged his decision to spend billions on venture capital even before Alameda was ultimately hedged.
Crunchbase data shows that FTX Ventures has invested in nearly 70 startups.
Billionaire Stan Druckenmiller told an investor conference in New York that he does not own any Bitcoin, admitting that this may be a mistake.
He said in his speech: Frankly, I don’t own any Bitcoin, but I should. I’m 70 years old and I hold gold and I’m amazed at the growth of Bitcoin, it’s clear that young people see it as a store of value because it’s easier to generate income and for me in 17 years it has become As a brand, I like gold because it is a brand with a history of 5,000 years.
According to analysis by global market research company Technavio, the global cryptocurrency market size is expected to grow by $1.81578 billion from 2022 to 2027.
The market is expected to grow at a CAGR of 15.81% during the forecast period, with the North American market accounting for 48% of the global market growth.
Technavio pointed out that the growing demand for digital payments has driven the growth of the North American cryptocurrency market, with the United States ranking the highest for growth, with approximately 8% of Americans having conducted cryptocurrency transactions.
“Rich Dad Poor Dad” author Robert Kiyosaki shared his portfolio allocation template for 2024 on the official X account. Robert Kiyosaki recommended Bitcoin, gold and silver instead of stocks and bonds.
Robert Kiyosaki has been called a leading opponent of existing financial models, slamming financial experts and their seemingly foolproof portfolio allocation templates.
Kiyosaki believes that the long-standing 60/40 recommendation model for smart investors (with 60% recommending bonds and 40% recommending stocks) is no longer ideal.
According to data from the Brazilian tax service, USDT usage has increased significantly in Brazil, accounting for 80% of all cryptocurrency transactions in the country.
As of mid-October, USDT trading volume in Brazil this year reached 271 billion Brazilian reais (approximately $55 billion), almost twice the volume of Bitcoin, which accounted for 151 billion reais (approximately $55 billion). 30 billion U.S. dollars).
Brazil’s USDT trading volume has been growing since 2021, surpassing Bitcoin trading volume for the first time in July 2022.
At that time, it was at the peak of the storm in the cryptocurrency industry, and Three Arrows Capital and Voyager Capital collapsed.
According to L2BEAT data, the TVL of the Ethereum Layer 2 network is now US$12 billion, with an increase of 9.85% in the past seven days.
Among them, Arbitrum One network TVL is US$6.63 billion, an increase of 10.78% in the past seven days; OP Mainnet network TVL is US$3 billion, an increase of 9.44% in the past seven days
The zkSync Era network TVL is US$463 million, an increase of 15.45% in the past seven days. The Scroll network TVL is US$25.13 million, an increase of 72.42% in the past seven days.
Mintable CEO Zach Burks said the UK government is in danger of regulating NFTs in a way that is inconsistent with the nature of the emerging technology.
Burks said he believed a recent UK parliamentary committee report grossly exaggerated the role NFTs play in copyright infringement and failed to recognize that they are more than just unstable digital images.
And he believes that NFTs are in a transitional phase, where they are emerging from the speculative craze and are now entering a practical phase of implementing NFTs in a range of different things.