MicroStrategy, now rebranded as
Strategy, reports accelerated bitcoin purchases amidst a quarterly loss for the fourth straight time. The firm's new name and Bitcoin-inspired logo reinforce its decision to focus more on Bitcoin. This comes as
BlackRock announces plans to list a Bitcoin Exchange-Traded Product in Europe, bringing Bitcoin into more traditional financial markets.
The
Bitcoin price continues to fluctuate with some analysts predicting a massive break either upwards or downwards. Despite concerns including US-China tensions, and a major sell-pressure, Standard Chartered predicts that Bitcoin could hit $500,000 by 2028 as ETFs ease access, and volatility drops. Meanwhile, other forecasters warn of a potential downside break of $90K-$110K for Bitcoin.
On the policy front, Trump’s AI and Crypto Czar highlights regulation and a 'Bitcoin Reserve' as top priorities. Alongside this, there is unresolved speculation about a US Bitcoin reserve. Amid these developments,
El Salvador reportedly ditches Bitcoin as legal tender following a failed experiment.
Major firms continue to make headlines with their involvement in Bitcoin.
Strategy raises another $600 million from equity sales for Bitcoin purchase, becoming Bitcoin's first treasury company. At the same time, 'Strategy' clone companies appear as they turn to Bitcoin to boost share price. On the other hand, firms like cleanSpark and Semler Scientific release updates about their moves in Bitcoin mining and accumulation respectively.
Despite potential setbacks like tariff fears, giants like Tesla could benefit from rule changes to gain in Bitcoin, while others like MicroStrategy might bear the costs.
Bitcoin's possible future faces a range of responses, from Nobel economists predicting a downfall to zero, to bullish predictions of reaching $500,000. Amidst these, there are calls for central banks to buy Bitcoin, adoption of Bitcoin for college savings, and NGOs planning strategic Bitcoin reserves.
Bitcoin News Analytics from Thu, 30 Jan 2025 12:30:18 GMT to Wed, 05 Feb 2025 22:10:49 GMT -
Rating -2
- Innovation 4
- Information 7
- Rumor 2
