💰 JPMorgan revises bitcoin production cost estimate to $45,000JPMorgan has revised its central estimate of bitcoin production cost to $45,000 from the previous $42,000 projection amid a shift in bitcoin mining hashrate. This appears to be happening, albeit with some delay," JPMorgan analysts led by Nikolaos Panigirtzoglou wrote in a report on Thursday. "The current hashrate and power consumption put our central estimate of the bitcoin production cost to around $45,000, i.e., well below current prices" of around $65,000, the analysts added.

Source

https://t.me/Bitcoin_Magazine

🪙 Bitcoin ETF Flows Surge to Two-Week High as BTC Soared Beyond $66,000Inflows for spot Bitcoin ETFs in the United States soared to $303 million on May 15 amid a big jump in BTC prices. It is the highest inflow since May 3 as institutional investors pivoted back to bullish in the wake of the US Consumer Price Index (CPI) data on May 15 which met expectations. Fidelity led the pack with its FBTC fund seeing $131 million in inflows for the day, its highest inflow since March 26. Bitwise’s BITB fund also had a solid day with an inflow of $86 million, a figure not beaten since March 4.

Source

https://t.me/Bitcoin_Magazine

💰 Morgan Stanley reveals $270 million investment in Bitcoin ETFs, making it top GBTC holderMorgan Stanley revealed a $269.9 million investment in spot Bitcoin ETFs via Grayscale’s GBTC in its first quarter 13F disclosure. Based on Fintel data, the investment makes it one of the largest holders of GBTC, following Susquehanna International Group’s leading $1.0 billion investment. Morgan Stanley is also one of many Global Systemically Important Banks (G-SIBs) that have disclosed investments in spot Bitcoin ETFs, alongside the Royal Bank of Canada, JP Morgan Chase, Wells Fargo, BNP Paribas, and UBS.

Source

https://t.me/Bitcoin_Magazine

🇸🇻 El Salvador’s *💰 *Bitcoin HODL Strategy Pays Off as Nation Sees 55% ProfitEl Salvador, the pioneering country that approved Bitcoin as legal tender, has consistently adhered to its HODL strategy, even amidst the market crash from two years ago and the massive rise toward new ATH this week. According to its Bitcoin tracker, El Salvador has 2,864 BTC, whose current value is $188 million, acquired across 12 transactions at an average price of $42,630 each. Based on today’s market, Bitcoin has seen a 176% increase over the past year, pushing El Salvador’s unrealized gains to $66 million.

Source

https://t.me/Bitcoin_Magazine

💰 Financial advisory network Cetera approves the use of 4 spot bitcoin ETFsWealth management and financial advisory firm Cetera approved the usage of four U.S. spot bitcoin exchange-traded funds for its network of 9,000 affiliated professionals. BlackRock’s IBIT, Fidelity’s FBTC, Franklin Templeton’s EZBC and Invesco’s BTCO were chosen due to the providers’ track record in successfully launching new product strategies, with the required resources, tools and knowledge, according to a statement from the company on Thursday.

Source

https://t.me/Bitcoin_Magazine

💰 Court rules Craig Wright is Not Bitcoin creator Satoshi NakamotoUK High Court has declared that Dr. Craig Wright, an Australian computer scientist, and businessman, is not the author of the Bitcoin whitepaper, did not create the Bitcoin system, and did not operate under the pseudonym Satoshi Nakamoto from 2008 to 2011. The judgment comes as the culmination of the legal battle between Wright and the Cryptocurrency Open Patent Alliance (COPA).

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin Hits Peak Interest on Google Trends Following SEC's ETF ApprovalsIn the week spanning Jan. 7th to the 13th, 2024, Google Trends revealed a peak interest score of 100 for the search term bitcoin. A closer examination of Google Trends over the past three months highlights that this interest surged to its apex on Jan. 11. This was the day after the U.S. Securities and Exchange Commission (SEC) sanctioned 11 spot bitcoin exchange-traded funds (ETFs).

Source

https://t.me/Bitcoin_Magazine

💰 Coinbase Prime hot wallet leads weekly Bitcoin trading with $11.4 billion volume

Coinbase Prime, the crypto platform explicitly designed for institutional investors, trusts, and high-net-worth individuals, has seen a dramatic increase in trading activity following the U.S. spot Bitcoin ETFs launch.

Source

https://t.me/Bitcoin_Magazine

💰 IMF Chief Sees Crypto as Asset Class — Says Bitcoin Won't Dethrone US Dollar as Dominant CurrencyInternational Monetary Fund (IMF) chief Kristalina Georgieva sees crypto as an asset class, not money. She dismissed concerns of bitcoin potentially displacing the U.S. dollar as the world’s dominant currency, citing the size of the U.S. economy and the depth and sophistication of its capital markets as key factors.

Source

https://t.me/Bitcoin_Magazine

💰 **Bitcoin nears all-time high in Argentina after Javier Milei wins presidential election

The** price of bitcoin in Argentina is reapproaching all-time highs after pro-bitcoin libertarian Javier Milei’s victory in the country’s presidential election last night. Bitcoin jumped 2% from around 13 million to 13.2 million Argentine pesos following the announcement before consolidating. It is currently trading at 13.17 million Argentine pesos, according to CoinGecko data. The price rise did not quite take bitcoin to new all-time highs in the country — 13.37 million Argentine pesos.

Bitcoin is also up 1.5% over the last 24 hours in U.S. dollar terms, currently trading at $37,215, according to The Block’s price data. When asked about the potential for bitcoin as a monetary alternative in an interview with the Argentine newspaper Clarín last year, “The first thing we have to understand is that the central bank is a scam. It is a mechanism by which politicians cheat good people with an inflationary tax,” Milei said. “What bitcoin is representing is the return of money to its original creator — the private sector,” he continued. “Bitcoin has an algorithm that one day it will reach a certain amount and there is no more and it can compete with other currencies, but the problem is that governments will not give up the legal tender.

Source

https://t.me/Bitcoin_Magazine