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Happy Tuesday Folks! Bitcoin is trading up at $72,075.
CURRENT NEWS
Today, Bitcoin whales are "increasingly cashing out," but the number of new “millionaire” wallets for Bitcoin (BTC) has risen to about 1,500 daily after the cryptocurrency’s price surged to $72,000 recently. However, this increase is modest compared to the daily creation of new millionaires during the previous bull market.(2) Biden proposes 30% tax on crypto mining electricity to address environmental concerns and the tax to be introduced over three years, aiming to reduce mining's environmental impact; critics argue the move could stifle US crypto industry growth, citing alternative motives.(2)
Grayscale plans low-fee GBTC spinoff - the Bitcoin mini trust(3) and Coinshares acquires Valkyrie.
TIME MACHINE
A few weeks ago, Edward Snowden called Bitcoin the "most significant monetary advance since the creation of coinage"(3) and Ethereum continued its strong run, pushing higher toward $3K and it hit shortly after publishing.(5) A couple weeks, I said...Bitcoin continues to struggle right around $52.5K. If it can break that level I believe we will see high $60K - guess what? Went much higher than I ever imagined! It jumped over $57K and adding $140B daily; liquidating the shorts.(4) In addition, MicroStrategy slammed the buy button once again to the tune of $155M worth of $BTC!(6) Last week, Bitcoin ETF inflows reached $562M as Bitcoin was eyeing all-time highs but within inches it pulls back to $66K ($500M in long liquidations (2)) and is once again trying to rally back up; traders dismiss a triple top. BOOM! ATH reached .... and it's gone. lol (5) 100% of Bitcoin wallets are now in profit. 45% of all Bitcoin hasn't moved in more than 3 years. Bitcoin has flipped Silver.
Yesterday, MicroStrategy announced that it has completed its previously announced offering of 0.625% convertible senior notes due 2030 on March 8, 2024 and bought another 12,000 $BTC after raising over $800M from those convertible notes.(6)
Top Performing Assets Last Week (24 Hours): $SHIB 57.83% | $DOGE 14.39% | $ETH 7.08%
Top Performing Assets Couple Weeks Ago (24 Hours): $DOGE 11.74% | $BTC 10.66% | $SOL 10.27%
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Podcasts of the Day: Billionaire Bill Ackman Looks At Bitcoin at $72,000 | The Breakdown
