68. President Bukele exclaims El Salvador's many income streams from Bitcoin.
Bukele highlighted El Salvador's successful ventures in the Bitcoin ecosystem.
Crypto Corner
Indian crypto investment platform Mudrex plans to offer U.S. Bitcoin ETFs to Indian investors. Mudrex, a Y-Combinator-backed entity headquartered in California, operates a subsidiary registered with the Intelligence Unit of India.
Nigeria invited and then detained Binance’s Compliance Head and Africa Manager for two weeks, according to reports. "We are working collaboratively with Nigerian authorities to bring Nadeem and Tigran back home safely to their families,” a Binance spokesperson
The UK's Financial Conduct Authority (FCA) is allowing institutional investors to establish a market for crypto-backed Exchange-Traded Notes (ETNs).
Weekly inflows into crypto funds surged to a record high of $2.7 billion, approaching the annual record set in 2021, with expectations that it could be reached next week.
Cathie Wood's ARK Invest sold nearly $150 million worth of Coinbase shares last week. ARK Invest aims to ensure that no individual holding exceeds a 10% weighting of an ETF's value.
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NFT Spotlight
NFT of the week: BACKBONE
HYPERCOMIC has seen over 5 million NFTs minted by 600,000 users on zkSync in its first month.
Consensys-backed Palm Collective has launched a new platform for Web3 creators and announced a $1,000 art contest.
Bitcoin Buzz
MicroStrategy, founded by staunch Bitcoin advocate Michael Saylor, has acquired an additional 12,000 BTC with proceeds from convertible senior notes. The software firm now holds 205,000 BTC, valued at approximately $14.7 billion.
Bitcoin's market capitalization surged to $1.4 trillion, surpassing that of silver, as it reached a record high on Monday, driven by the continued positive momentum of spot ETFs.
El Salvador’s Bitcoin treasury has seen a profit of $85 million amid the recent BTC rally. The nation's Bitcoin holdings are now valued at more than $200 million, with additional acquisitions from recent government initiatives.
BlackRock CEO Larry Fink has stated that Bitcoin has "great potential as a long-term store of value" especially for those concerned about government actions.
Bitcoin's recent rally to an all-time high is leading to the creation of approximately 1,500 'millionaire wallets' every day.
Bitcoin Miners
Despite Bitcoin reaching another all-time high on Monday, publicly traded mining stocks started the day with percentage declines. Stocks linked to companies such as Marathon, CleanSpark, Riot, and others have decreased in value compared to the U.S. dollar, despite Bitcoin celebrating fresh price milestones.
Bitcoin miner Bitfarms has purchased an additional 51,908 ASICs amid the bull market. This move comes as the price of Bitcoin has reached an all-time high above $72,000.
Bitcoin's hashrate has reached 618 EH/s, establishing a new 7-day SMA record in 2024.
Quote Of The Week:
“Your time is limited, so don't waste it living someone else's life.” -Steve Jobs
Have a great remainder of your week. See you Saturday! Please share :)