Institutional Adoption Soars with Bitcoin ETFs
Spot Bitcoin ETFs in the U.S. have achieved a staggering $50.5 billion in cumulative net inflows, accumulating over 500,000 BTC within their first year. This milestone underscores growing institutional confidence in Bitcoin as a long-term asset.
MicroStrategy’s Expanding Bitcoin Treasury
- Latest Purchase: MicroStrategy added 21,550 BTC (worth $2.1 billion**) at an average price of **$98,782, bringing its total holdings to 423,650 BTC.
- Strategic Focus: The company continues to reinforce its position as the largest corporate Bitcoin holder, leveraging its treasury strategy for long-term value appreciation.
👉 Why MicroStrategy’s Bitcoin strategy is winning
MicroStrategy Joins Nasdaq-100 Index
Marking a pivotal moment, MicroStrategy will be included in the Nasdaq-100 Index starting December 23, 2024. This follows a year where its stock surged sixfold, outpacing the Nasdaq-100’s 29.4% YTD growth.
Key Implications:
- Increased Visibility: Entry into this elite index signals mainstream financial validation.
- BTC Correlation: The company’s stock performance remains tightly linked to Bitcoin’s price movements.
Legal and Expansion Highlights
BiT Global vs. Coinbase
Justin Sun-backed BiT Global filed a $1 billion lawsuit against Coinbase, alleging unfair delisting of its WBTC product in favor of Coinbase’s cbBTC.
Riot Platforms’ Mining Expansion
- BTC Acquisition: Purchased 5,117 BTC for $510 million** post a **$525 million convertible note offering.
- Growth Strategy: Expands mining capacity amid rising institutional interest in Bitcoin.
Avalanche Secures $250M for Next-Gen Upgrade
Avalanche (AVAX) raised $250 million in funding led by Dragonfly, ParaFi Capital, and Galaxy Digital to support its "Avalanche9000" initiative.
Funding Objectives:
- Lower Transaction Costs: Enhance scalability for broader adoption.
- Validator Growth: Attract more network participants to bolster decentralization.
👉 How Avalanche is competing with Ethereum
Ripple’s Stablecoin Gains Regulatory Green Light
Ripple received final approval from New York regulators to launch its RLUSD stablecoin, targeting the $200 billion liquidity market.
CEO’s Warning:
- Scam Alert: Brad Garlinghouse emphasized announcements will only come via official channels.
Microsoft Rejects Bitcoin Treasury Proposal
Shareholders voted against adding Bitcoin to Microsoft’s treasury, aligning with the board’s recommendation.
Why It Matters:
- Reflects corporate caution despite growing institutional crypto adoption.
FAQs
1. How much BTC do U.S. Bitcoin ETFs hold?
Over 500,000 BTC, with $50.5 billion in net inflows.
2. What is MicroStrategy’s total Bitcoin holdings?
423,650 BTC, valued at billions.
3. Why did BiT Global sue Coinbase?
Alleges unfair delisting of WBTC to promote Coinbase’s cbBTC.
4. What will Avalanche’s funding be used for?
Scaling technology and recruiting validators.
5. Is Ripple’s stablecoin live?
Not yet—approvals are secured, but launch details await official announcements.
6. Why did Microsoft reject Bitcoin?
Board advised against it, prioritizing traditional reserves.