DeFi News Daily Official TheBitTimes.com

MicroStrategy acquires 14,620 BTC for $615.7M, pushing total holdings to 189,150 BTC at $5.9B. CEO Michael Saylor remains bullish on Bitcoin, considering it the world’s most valuable asset class. The company’s proactive crypto strategy aligns with growing institutional interest, eyes 1% of Bitcoin supply. MicroStrategy (NASDAQ: MSTR), the business intelligence giant led by CEO Michael Saylor, has reaffirmed its belief in the long-term potential of Bitcoin. In a recent disclosure to the Securities and Exchange Commission (SEC), MicroStrategy revealed the acquisition of 14,620 BTC between November 30, 2023, and December 26, 2023. This substantial purchase amounts to $615.7 million, at an average price per Bitcoin of $42,110.  The recent purchase comes after the company purchase d another 5,445 bitcoins in September 2023. MicroStrategy’s total Bitcoin holdings have now reached an impressive 189,150 BTC, acquired at an approximate cost...

Bitcoin (BTC) is currently aiming to reclaim the $40,000 level as it seeks a new all-time high, primarily fueled by speculation surrounding the potential approval of a spot exchange-traded fund (ETF) by United States regulators. The news regarding the ETF, combined with the upcoming halving event, is widely seen as a major catalyst that could propel Bitcoin to another record high. Nevertheless, some analysts posit that Bitcoin may receive a boost from an additional catalyst. Particularly, in a TradingView post on December 1, renowned crypto analyst TradingShot suggested that Bitcoin might be on the verge of a significant global money supply rally, challenging traditional halving theory. Notably, the halving theory dictates that Bitcoin experiences important price rallies following each event.  Bitcoin price analysis chart. Source: TradingView The potential Bitcoin rally , as per the analyst, is closely tied to two key indicators of the global money supply : Chinese bond yield...

Glassnode reports a record 2.9 million BTC, valued at $82.5 billion, untouched for ten years . It underscores long-term holders’ faith amidst market fluctuations. Glassnode data shows that the amount of Bitcoin that has not been moved for at least ten years just hit a new all-time high of nearly 2,900,000 BTC — or about $82.5 billion. #Bitcoin $BTC Amount of Supply Last Active > 10y just reached an ATH of 2,895,599.067 BTC View metric:https://t.co/lBBwEqVviB pic.twitter.com/8gZJzStNEw — glassnode alerts (@glassnodealerts) August 17, 2023 This means that the quantity of Bitcoin held for at least ten years keeps increasing and reaching new heights, suggesting that long-term investment is alive and kicking. Similarly, the percentage of Bitcoin’s supply that has not moved for at least five years reached a new record of 29.202% on Aug. 16. Nearly one-third of Bitcoin’s total supply has been kept in a single wallet for at least five years . The same is ...