BlackRock Overtakes Grayscale BlackRock’s iShares Bitcoin Trust has become the largest Bitcoin fund globally, dethroning its rival, Grayscale Bitcoin Trust (GBTC). As of May 28, BlackRock’s Spot Bitcoin ETF held $19.68 billion in assets under management (AUM), while Grayscale’s Bitcoin ETF held $19.65 billion. Grayscale’s Decline Since its conversion into an ETF in early 2024,…
Analyst Josh Olszewicz believes Bitcoin is on the verge of a major breakout if it can overcome the crucial $72,000 resistance level. Technical Analysis Ichimoku Cloud: Bitcoin’s price is above the cloud, indicating a bullish trend. Fibonacci Extensions: The 1.0 extension is at $71,897.29, aligning with the key resistance level. Volume Profile: Declining volume suggests…
SEC’s Lawsuit Dismissed The Securities and Exchange Commission (SEC) has been dealt a major setback in its case against Digital Licensing Inc., operating as Debt Box. On May 28, 2024, a federal judge dismissed the SEC’s lawsuit, accusing Debt Box of a $50 million cryptocurrency scheme. SEC’s Overreach Exposed Debt Box successfully defended itself by…
Sell Everything, Buy Bitcoin Peter Schiff, a well-known Bitcoin skeptic, has once again taken a jab at the cryptocurrency. In a sarcastic post, he suggested that if all U.S. companies sold off their assets and invested in Bitcoin, everyone would become rich. Schiff’s Hypothetical Scenario Schiff’s scenario involves U.S. companies shutting down operations, firing employees,…
Cathie Wood, CEO of Ark Invest, believes that El Salvador’s economy could grow tenfold in the next five years due to its embrace of Bitcoin and artificial intelligence (AI). Bitcoin Adoption in El Salvador El Salvador has been actively acquiring Bitcoin since 2021, making it the first country to adopt the cryptocurrency as legal tender….
Growing Popularity More voters are warming up to cryptocurrencies, especially Bitcoin. A recent survey shows that nearly a third of voters have become more interested in investing in crypto since the start of the year. Long-Term Value Over 20% of voters now see crypto as a good long-term investment, up from 18% in November. This…
Whale Activity Surges Ethereum whales, the crypto world’s heavy hitters, have been making big moves. Over the past 14 months, they’ve increased their holdings by almost 30%, amassing a whopping 21 million ETH worth $83 billion. This surge is likely fueled by the SEC’s approval of Ethereum ETFs, which has sparked confidence in the market….
Bank of America’s wealth management division, Merrill, has accidentally exposed the personal information of 1,883 Walmart 401(k) plan participants. Data Breach Details An employee mistakenly emailed the first names, last names, and Social Security numbers of the individuals to an unauthorized recipient. Merrill has confirmed that the email has been deleted and there is no…
Analyst’s Perspective: Crypto analyst Credible believes Dogecoin (DOGE) may decline regardless of Bitcoin’s (BTC) performance. He explains that DOGE could fall due to: BTC decline: If BTC falls, DOGE is likely to follow suit. BTC surge: A significant BTC rally could draw attention and liquidity away from altcoins like DOGE. BTC’s Expected Trajectory: Credible predicts…
PayPal, the payments giant, has announced that its stablecoin, PYUSD, will now be available on the Solana blockchain. Benefits of Solana Integration Solana is known for its high transaction speeds and low costs. This makes it an ideal platform for PYUSD, which is used for payment transactions. Remittance Feature PayPal recently introduced a feature that…
