Japans major banks back new stablecoin project for global trade

Project Pax, backed by Japans top banks, seeks to streamline cross-border transactions using stablecoins, addressing inefficiencies identified by the G20.

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ASI Alliance calls for decentralized cloud infrastructure in AI development

The Artificial Superintelligence Alliance urges decentralization in cloud services to mitigate vulnerabilities in AI development to ensure both security and innovation.

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GitHub and Microsoft Azure AI Introduce General Availability of Code Referencing

GitHub and Microsoft Azure AI announce the general availability of code referencing, enhancing transparency and knowledge sharing for developers. (Read More)

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Bitcoin monthly close, fresh bullish narratives lead BTC traders to aim for new price highs

Bitcoins monthly close could reverse a 6-month-long downtrend and signal traders intent to push BTC price to new highs. 

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Propelled by crypto inflows, US ETF assets hit record $10 trillion

Cryptocurrency ETFs saw inflows exceeding $20 billion in 2024, according to Morningstar.

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Leveraged MicroStrategy ETFs break $400M as hot sauce arms race heat up

The ETFs add leverage to MicroStrategys already levered-up Bitcoin strategy, and investors cant seem to get enough.

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MicroStrategy S&P 500 listing probably not coming despite stellar performance

Inclusion could boost the industry. Anyone that owns an S&P 500 Index fund will own Bitcoin once MSTR makes it into the index. 

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MicroStrategys Bitcoin Bet Pays Off In Multiple Ways As Stock Surges 317%

MicroStrategy was shot into the limelight when it began publicly buying Bitcoin back in 2020. While it is not the only publicly listed company to do this, the companys aggressive Bitcoin strategy set it apart from the rest. Four years later, MicroStrategy is now the public company with the largest BTC holdings in the world, recording over $5 billion in profit so far. However, the profit on the BTC holdings is not the only positive that has come from the companys Bitcoin investment strategy. MicroStrategys Stock Price Blows Up MicroStrategys MSTR stock price has completed an incredibly successful year that has seen it perform the big hitters in the stock market. A year ago, the MSTR stock price was sitting at a low of $45. However, as the Bitcoin price recovered and the companys BTC portfolio grew, so did the companys stock price. Related Reading: Crypto Analyst Predicts What Will Drive The Ethereum Price Back Above $3,000 Again In only one year, the price surged more than 317% to reach a new all-time high of $192 back in March 2024, according to data from TradingView. This put it above its previous February 2000 peak of $139, making it its highest level in more than two decades. Interestingly, the surge to the $192 all-time high in March coincided with the the Bitcoin all-tine high of $73,750 in the same month. This suggests that the MicroStrategy stock price is closely correlated with the Bitcoin price performance. Its understandable given that Bitcoin has become the companys largest holdings, meaning that as the Bitcoin price rises, so does the valuation of the company, translating to an increase in the stock price. Currently sitting at $167 at the time of this writing, meaning its 16% down from its $192 all-time high. However, it is still 250% higher than its $45 price level a year ago. This puts it ahead of the likes of Apple which is up only 24% year to date and Amazon, with a 34% year-to-date increase. Even NVIDIAs outstanding performance falls behind MicroStrategy, with a 155% year-to-date increase. Padding Up With Bitcoin Despite being four years in, MicroStrategy is not letting up on its Bitcoin purchases, with major purchases this year. In 2024 alone, the company has bought 63,079 BTC which cost around $4.04 billion to acquire. The most recent purchase was on September 20, when former CEO Michael Saylor announced that the company had purchased 7,420 BTC for $489 million. This has brought the companys total BTC holdings to 252,200 for a whopping cost price of $9.9 billion. Related Reading: Dogecoin Eyes Bullish 50% Rally To $0.16, But Will A Crash Come First? Despite the already massive Bitcoin holding, accounting for more than 1.166% of the total supply, MicroStrategy plans to continue buying BTC. The company announced it was offering $700 million in convertible notes, which was later amended to $1 billion, the proceeds of which would be used to purchase more BTC. As for the companys plan for its massive BTC stash, Saylor has previously revealed that the company has no plans of selling soon. For now, the plan looks to be to buy as much BTC as possible to hold as a treasury asset. Featured image created with Dall.E, chart from Tradingview.com

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Render (RENDER) Shows 23% Surge As Sharks & Whales Continue To Buy

Render has shown a sharp jump of more than 23% during the last week as on-chain data shows the large hands have continued to buy. Render Has Enjoyed Bullish Momentum Over The Past Week The cryptocurrency sector as a whole has witnessed an uplift recently, but Render has been among the altcoins that have really stood out from the rest. Whereas Bitcoin (BTC) and Ethereum (ETH) have only seen weekly profits of around 3% and 9%, respectively, RENDER has shown an impressive 23% jump. Related Reading: Dogecoin Wins Over Major Demand Zone: Path To $0.15 Now Clear? The below chart shows how the recent performance of the asset has been like. Following this sharp growth, Render’s price has now neared the $6.5 mark for the first time in four weeks. In terms of the market cap, the asset has seen its valuation touch $3.3 billion, placing it at the 29th place on the top cryptocurrencies list. The coin is now chasing Pepe (PEPE), which is the 28th largest asset in the sector with a market cap of around $3.9 billion. Though, considering the 18% difference in their valuations, it wouldn’t be an easy task for RENDER, especially since PEPE generally shows a notable rise of its own when the market goes up. As for what could be behind the latest growth that the cryptocurrency has enjoyed, perhaps on-chain data can provide some hints. Sharks & Whales Have Been Busy Buying The Token Recently According to data from the on-chain analytics firm Santiment, the Render sharks and whales have participated in some considerable accumulation during the last eleven weeks. The indicator of relevance here is the “Supply Distribution,” which tells us about the amount of supply that a given wallet group on the network is holding right now. In the context of the current topic, the cohort containing addresses who own at least 100,000 tokens is of interest. At the current price of the coin, this cutoff is equivalent to just under $650,000, which is a significant amount. As such, this group corresponds to the large hands of the market, popularly known as the sharks and whales. Below is the chart shared by the analytics firm, which shows how the Supply Distribution for these investors carrying 100,000+ coins has changed over the last few months: From the graph, it’s apparent that the supply held by the Render sharks and whales has witnessed a considerable increase over the last eleven or so weeks. More specifically, these investors have added 20.54 million tokens to their wallets, equivalent to 3.7% of the total supply. Related Reading: Bitcoin Correlation With Gold Now At Highest Level Since March The buying spree from this cohort has continued during the latest price surge and thus, could be at least a factor behind why it has taken place. Featured image from Dall-E, Santiment.net, CoinMarketCap.com, chart from TradingView.com

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Michael Saylor Makes Stunningly Bullish Bitcoin To The Moon Statement As BTC Pushes Past $65K

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Data Shows MicroStrageys Bitcoin Strategy is a Template Every Public Traded Firm Should Follow

The stock performance of MicroStrategy, a business intelligence company, highlights the difference that adopting the Bitcoin strategy could make for…

The post Data Shows MicroStrageys Bitcoin Strategy is a Template Every Public Traded Firm Should Follow first appeared on The Crypto Basic.

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HKMA and NDRC Collaborate on Seminar to Boost Mainland Enterprises Cross-Border Financing in Hong Kong

HKMA and NDRC held a seminar to enhance Mainland enterprises' cross-border financing in Hong Kong, aiming to strengthen offshore debt issuance. (Read More)

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BitcoinOS launches BitSNARK ZK verification for enhanced privacy on Bitcoin

BitSNARK enables private transactions and advanced DApps on the Bitcoin blockchain while keeping BTCs core intact.

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MicroStrategy should lend Bitcoin to boost yield analyst

The proliferation of institutional Bitcoin custodians creates opportunities for MicroStrategy, according to a Benchmark analyst.

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Bitcoin core dev to unite Bitcoin and Ethereum with cross-chain tunnels

The Hemi Network team claims tunneling allows Bitcoin and Ethereum to coexist without the attack vectors associated with cross-chain bridges. 

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Hong Kongs e-HKD project expands into tokenization, programmability

The Hong Kong Monetary Authority is looking at a potential CBDC from a wide perspective.

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Three-Mile Island nuclear site reopening to power AI

The site was ground zero for a partial nuclear meltdown in 1979, which affected a separate unit and caused nearby areas to evacuate.

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Crypto Biz: Circle prepares to debut on Wall Street

Stablecoin issuer Circle is moving forward with its public offering debut and plans to shift its headquarters to Wall Street in 2025.

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Securitize adds Wormhole for multi-chain RWA tokens 

Easier cross-chain transferability for RWAs is crucial to institutional adoption, executives say. 

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MicroStrategys Bitcoin Stash Exceeds 250,000 BTC Following Half-Billion Dollar Acquisition

Business intelligence firm MicroStrategy, led by Bitcoin (BTC) bull Michael Saylor, announced on Friday a successful $1.01 billion raise through the sale of convertible senior notes, a strategic move aimed at acquiring more BTC and redeeming higher-yielding securities. MicroStrategy Invests Additional $458 Million In BTC Of the funds raised, MicroStrategy allocated $458 million to purchase additional Bitcoin between September 13 and September 19, further bolstering its position as the cryptocurrency’s largest publicly traded corporate holder. As of September 19, the company reported holding approximately 252,220 Bitcoin, valued at around $15.8 billion.  Related Reading: Analyst Predicts A Solana Price Crash To $80 If This Happens The convertible notes issued by MicroStrategy carry an interest rate of 0.625% and will mature in 2028. This marks the fourth time this year that the company has turned to the convertible note market to finance its Bitcoin acquisitions.  In conjunction with the new issuance, MicroStrategy is redeeming $500 million of higher-interest 6.125% notes due in 2028, reflecting a strategic shift to lower borrowing costs while expanding its crypto portfolio. Co-founder and Chairman Michael Saylor has played a pivotal role in shaping MicroStrategy’s identity as a cryptocurrency investment vehicle since the company first ventured into Bitcoin in 2020.  Under his leadership, the firm has transformed from a traditional enterprise software maker into a de facto crypto hedge fund, demonstrating a bold commitment to digital assets amid market fluctuations. MicroStrategy’s stock has also seen significant gains this year, more than doubling in value and outperforming Bitcoin’s approximately 50% increase over the same period. The latest acquisition follows MicroStrategys earlier purchase of 18,300 Bitcoin, valued at roughly $1.11 billion last week. Bitcoin Price Analysis Following what has been deemed a bullish catalyst, the broader cryptocurrency market has responded positively to the US Federal Reserve’s announcement on Wednesday of a 0.50% basis point rate cut.  This decision contributed to the recovery over the past week after Bitcoin’s price retraced to as low as $52,640 on September 6. Bitcoin has managed to reclaim the $63,000 mark, aiming to consolidate above this critical level for the last 24 hours.  Market analyst Ali Martinez points out that this price point coincides with Bitcoins 200-day simple moving average (SMA) on its BTC/USDT daily chart, which Martinez identifies as a pivotal threshold for the anticipated bull run in the latter part of the year. Historically, failures to maintain this support level have led to significant corrections, as observed in 2020, 2018, and 2014. Martinez warns that a rejection at this level could signal trouble for Bitcoins future price trajectory. Related Reading: XRP Price Surge Could Hit 9,470% Analyst Predicts $27 Target In Bold Forecast To mitigate the risk of a sharp decline, key support floors have been spotted at $61,700 in the short term, with the $60,000 mark serving as an essential threshold to prevent further price drops.  In addition, introducing new liquidity into the market could significantly boost the Bitcoin price, as the Fed’s decision may boost investor confidence in riskier assets such as BTC.  A successful break and consolidation above $63,000 could set the stage for a potential challenge of the next resistance level at $64,000 in the coming days. Featured image from DALL-E, chart from TradingView.com

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