WHAT‘S NEW‼️*?***

Michael Saylor revealed that he personally owns more than $1bn worth of Bitcoin.

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WHAT‘S NEW‼️*?***

Despite the recent market volatility, El Salvador continued its Bitcoin buying policy, purchasing 1 BTC daily.

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WHAT‘S NEW‼️*?***

BlackRock and Nasdaq have filed an application with the SEC to launch options on a spot Ethereum ETF.

The SEC's deadline is April 9, 2025, but approval is also needed from the OCC and CFTC.

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Why Did Bitcoin Drop from $70k+ to $67k+?

Today's market turbulence is largely due to Mt.Gox unexpectedly transferring billions in Bitcoin to new addresses.

▪️This morning, 42,830 BTC ($2.94bn) was moved to an unknown address
▪️Later, another 64,636 BTC ($4.2bn) was transferred
▪️By day's end, an additional 34,138 BTC ($2.3bn) was transferred

In total, over $9.44bn worth of Bitcoin was moved in a single day.

These transfers are part of the Mt.Gox Rehabilitation Plan, where trustee is moving coins to a different wallet in preparation of the distribution that will likely happen this year.

The movement appeared to unnerve traders but the former CEO of Mt.Gox assured that “there is no imminent sale of bitcoins happening.”

WHAT‘S NEW‼️*?***

Digital asset investment products saw inflows of $1.05bn last week, pushing year-to-date inflows to a record $14.9bn.

Ethereum had $36m in inflows, the highest since March, likely due to the approval of ETH ETFs in the U.S

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WHAT‘S NEW‼️*?***

According to the data, spot trading volumes have surpassed $100bn daily for the first time since November 2021, totaling $1.5tr, the highest since December 2021. Binance leads spot volumes at $727.5bn, targeting a 46% market share.

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WHAT‘S NEW‼️*?***

In Argentina, grappling with 276% inflation, residents are reportedly opting for Bitcoin over traditional dollar-saving methods.

Bitcoin transactions have hit a 20-month peak at the local Lemon exchange, signaling a major shift in financial strategies amid economic turmoil.

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WHAT‘S NEW‼️*?***

MicroStrategy, following its $603.75m convertible notes offering, purchased an additional 9,245 BTC for approximately $623m, using the proceeds and excess cash, at around $67,382 per Bitcoin, as per CEO Michael Saylor.

As of March 18, 2024, MicroStrategy holds 214,246 BTC, acquired at an average price of $35,160 per Bitcoin, amounting to a total investment of approximately $7.53bn.

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WHAT‘S NEW‼️*?***

Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund with $1.5tr under management, is looking at Bitcoin as a potential diversification tool.

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