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2024-04-10 08:35:15 JUST IN: US Senator Cynthia Lummis says high ranking government officials feel threatened by Bitcoin because they can’t control it

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2024-04-09 22:10:34 Fidelity’s FBTC spot Bitcoin ETF surpasses 150,000 BTC within three months

Fidelity’s FBTC spot Bitcoin exchange-traded fund has officially crossed 150,000 in assets under management. The newborn-nine spot bitcoin ETFs — excluding Grayscale’s converted GBTC fund — total more than 520,000 BTC. Fidelity’s FBTC has amassed a total of 150,563 BTC in assets — worth around $10.1 billion at current prices — according to the funds’ latest disclosure. Of the newborn-nine ETFs, BlackRock’s IBIT currently leads with 263,937 BTC ($18.5 billion) and Ark Invest 21Shares’ ARKB is third with 43,726 BTC ($3.1 billion), according to CoinGlass data.

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2024-04-09 10:14:53 BTC halving to fuel ‘raging firesale of crypto assets’ — Arthur Hayes

The Bitcoin halving this month, combined with a “bag of tricks” from the Federal Reserve and Treasury, will “add propellant to a raging firesale of crypto assets” and depress the crypto market for weeks, says BitMEX co-founder Arthur Hayes. In an April 8 blog post, Hayes wrote he believed the Bitcoin halving would “pump prices in the medium term” but warned crypto prices “directly before and after could be negative.”.

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2024-04-08 22:59:53 Investor fervor for Bitcoin ETFs cools despite $646 million weekly surge in crypto funds

Crypto-related investment products continued their upward trajectory, recording inflows of $646 million within the past week, according to CoinShares‘ weekly report. Trading volume for crypto investment products declined last week, dwindling to $17.4 billion from the $43 billion recorded in the first week of March. This suggests a potential moderation in investor interest in Bitcoin exchange-traded funds (ETF) after weeks of consecutive hype.

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2024-04-08 11:14:53 Paraguay’s proposed Bitcoin mining ban could cost it $200M a year

The Paraguayan economy could lose more than $200 million annually if the country’s lawmakers pass a recently introduced bill to ban crypto mining in the country. Lawmakers introduced the draft bill on April 4, claiming illegal cryptocurrency mines are stealing power and disrupting the country’s electricity supply. If passed, the ban would last 180 days or until new laws are enacted and the national power grid operator can ensure it can supply sufficient energy.

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2024-04-07 21:04:54 Bitcoin Sees Third Best Quarterly Trading Volume in 3 Years: Report

The first quarter of 2024 turned out to be Bitcoin’s (BTC) third-best in the past three years, according to a report from crypto data analytics platform Kaiko. Q1 2024 was Bitcoin’s best quarter in a year as the network witnessed a surge in trading volume. The $1.4 trillion traded in the quarter was the largest cumulative amount the network had seen in more than two years, representing a 107% increase from the $674 billion recorded in Q4 2023.

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2024-04-07 11:44:54 World’s First Bitcoin ETF Has Lost 20% of Assets Since BlackRock Approval

The Purpose Bitcoin ETF (BTCC) – the world’s first Bitcoin exchange-traded fund – has struggled to compete with its U.S. counterparts since its January debut. The Canadian fund has lost 20% of its Bitcoin (BTC) under management over the past three months, despite rising demand and record-high prices for the asset during that time. In BTC terms, the amount is fairly average by historical standards. Since launching in February 2021, the firm’s holdings have mostly oscillated between 20,000 and 40,000 BTC, remaining relatively stagnant throughout 2023 at around 23,000.

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2024-04-06 19:59:55 MicroStrategy’s Implied Premium to Bitcoin Settling Into New Norm, BTIG Says

MicroStrategy has a track record of creating value for shareholders, broker BTIG said in a research report on Friday, raising its price target for the software company and bitcoin (BTC) acquirer. BTIG reiterated its buy rating on the stock and increased its price target to $1,800 from $780. MicroStrategy shares were trading little changed on the day at about $1,617 at publication time.

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2024-04-06 13:49:56 Genesis purchases $2.1B of Bitcoin following GBTC sell-off

Bankrupt crypto lending firm Genesis reportedly offloaded about 36 million shares of Grayscale Bitcoin Trust (GBTC) to acquire additional Bitcoin as part of its preparations to settle its debts with creditors. According to a recent Bloomberg report, Genesis liquidated approximately 36 million GBTC shares on April 2, valued at approximately $58.50 per share at that time. The share price has climbed by approximately 50% since Genesis initially sought permission from the U.S. bankruptcy court to sell the 36 million GBTC shares on Feb. 2, when the shares were at $38.50.

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2024-04-05 19:09:55 Bitcoin’s Acceptance as 'Digital Gold' May Spur Demand From New Investors: Coinbase

Cryptocurrency markets dropped along with other risk assets after the Federal Reserve reiterated a cautious stance on the pace of future interest-rate cuts. Gold has outperformed, and this may benefit bitcoin (BTC), Coinbase (COIN) said in a research report on Friday. “Given the market’s recent hawkish views on rate cuts, we think gold’s performance signals an overweighting on inflation relative to Fed rate changes as well as an overall belief that certain inflation bumps could materialize more problematically than anticipated,” the report said.

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