Bitcoin approached $70,000, MicroStrategy will place $600 million in bonds to purchase Bitcoin, the SEC postponed its decision on the spot Ethereum-ETF, Do Kwon will be extradited to South Korea and other events of the past week.
Bitcoin approaches $70,000
On Monday, March 4, quotes of the first cryptocurrency exceeded $66,000. The next day, the price of the asset updated its historical maximum above $69,000. On Friday, March 8, digital gold came close to $70,000.
At the time of writing, Bitcoin is trading at $69,600.
BTC/USDT hourly chart of the Binance exchange. Data: TradingView.
Most of the top 10 digital assets by capitalization ended the week in the green zone. The biggest gainers were BNB (+27.1%) and Dogecoin (+23.5%).
Data: CoinGecko.
The total capitalization of the cryptocurrency market is $2.75 trillion. Bitcoin dominance index – 53.7%.
MicroStrategy will place $600 million in bonds to buy Bitcoin
MicroStrategy will raise $600 million through the issuance of convertible notes to qualified investors. The funds will be used to “purchase additional bitcoins and general corporate purposes.”
The offering will take place subject to “market and other conditions.”
The unsecured senior notes will mature in 2030. From 2027, MicroStrategy can convert securities into shares. On September 15, 2028, owners will be able to demand their redemption.
MicroStrategy founder Michael Saylor declared a “gold rush” for the first cryptocurrency. According to him, spot Bitcoin ETFs have caused rapid adoption of digital gold among institutions.
SEC delays decision on BlackRock’s Ethereum spot ETF
The SEC has extended the review period for BlackRock’s application to launch a spot Ethereum ETF. The regulator made the same decision regarding a similar proposal from Fidelity. The commission will continue to collect comments from the public.
Both investment giants have filed applications to register exchange-traded funds based on the spot price of the second-largest cryptocurrency in November 2023.
What to discuss with friends?
- Notcoin has opened a premarket for the NOT token.
- Experts saw the rally of meme coins as a sign of the starting altseason.
- Analysts have calculated the number of Bitcoins held by SpaceX and Tesla.
- The second most valuable CryptoPunk sold for $16 million.
Do Kwon to be extradited to South Korea
Terraform Labs (TFL) co-founder Do Kwon is being extradited to South Korea. This decision was made by the High Court of Montenegro.
On March 5, the Court of Appeal of this country overturned the approval of the transfer of the head of TFL to the American authorities.
Previously, lawyers achieved similar requests for Kwon’s extradition to the judiciary of the United States and South Korea on December 19 and February 8, respectively.
According to The Block, on March 7, the South Korean National Police Agency called on Interpol to facilitate Kwon’s extradition. The department emphasized that their request arrived before the United States.
However, according to Bloomberg, US prosecutors will continue to seek Kwon’s extradition.
CommEX calculated the income of Bitcoin exchanges working with Russians
There are about 6 million active cryptocurrency traders in the Russian Federation, and the average turnover of their transactions is $8,000 per month. This was stated by Anton Toroptsev, regional director of the CommEX exchange in the Russian Federation and the CIS.
According to him, with an average commission ranging from 0.02% on the futures market to 0.1% on the spot and average monthly “check” in the amount of $8,000 per trader, the total income of crypto exchanges working with users from the Russian Federation can reach $25 million per month or about 30 billion rubles per year.
Garantex Marketing Director Evgenia Burova disagreed with this assessment. According to her calculations, the monthly turnover of cryptocurrencies on the Russian market on such exchanges is about 250 billion rubles.
Also on ForkLog:
- Wormhole airdropped 617 million W tokens.
- The expert predicted Bitcoin at $10.6 million by 2045.
- Bitcoin whale cashed out 1000 BTC from 2010.
- Aevo launched a premarket for its own token ahead of the airdrop.
Robert Kiyosaki raises Bitcoin forecast to $300,000
Bestselling author of Rich Dad Poor Dad and entrepreneur Robert Kiyosaki predicted the rise of the first cryptocurrency to $300,000 this year and gave advice to investors.
“Bitcoin is burning out. The biggest mistake you can make is procrastination. It’s important to start, even with $500. Next stop is $300,000 in 2024,” he wrote.
What else to read?
This week ForkLog talked about what parallelization is and how it helps scale blockchains, as well as why the USDe stablecoin is interesting.
The traditional digest collected the main events of the week in the field of cybersecurity.
The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure and the increasing attention that companies are paying to Bitcoin as an asset class. The most important events of recent weeks are in the ForkLog review.
Subscribe to ForkLog on social networks
Found an error in the text? Select it and press CTRL+ENTER
ForkLog newsletters: keep your finger on the pulse of the Bitcoin industry!
2024-03-10 16:42:47
#Bitcoin #approached #SEC #postponed #decision #ETHETF #ForkLog
