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5.8 Billion Dormant Dogecoin Reactivate: How Will DOGE Price React?

Albert Brown
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5.8 Billion Dormant Dogecoin Reactivate: How Will DOGE Price React?

Dormant Dogecoin (DOGE) tokens have surged into activity as 5.8 billion tokens moved within the past 24 hours, according to on-chain data shared by technical analyst Ali Martinez.

This significant reactivation aligns with a spike in DOGE’s Age Consumed metric, which tracks the movement of long-inactive coins.

Specifically, the chart shared by Martinez reveals two key signals: a massive increase in Age Consumed, indicating that old DOGE holdings were transferred, and a major rise in daily circulation, reflecting active token movement. 

Previously, the daily circulation of DOGE was around 1.67 billion tokens, but an abrupt spike was observed to 5.8 billion tokens.

The sudden transfer of billions of DOGE could signify whale profit-taking, portfolio restructuring, or anticipation of upcoming market developments.

Dogecoin Price Action in Previous Instance

Historically, such spikes in long-dormant token activity have been precursors to notable price movements. For instance, in the first week of November, the Age Consumed metric was low, while daily circulating DOGE tokens were less than 1 billion.

As the price of DOGE commenced a major bull run in the second week of November, the Age Consumed metric saw a massive spike, aligning with over 5 billion DOGE tokens circulating.

However, as Dogecoin’s price began consolidating, these metrics reversed to lower levels until the current major spike observed yesterday.

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Dogecoin chart shared by Ali Martinez

This suggests that Dogecoin’s price could be set for another major rally in the coming days, especially as Bitcoin continues to break new all-time highs. Bitcoin reached around $107,800 on Monday evening before settling at around $106K at press time.

Typically, altcoins and meme coins see their most significant price swings when Bitcoin stabilizes after consecutive days of price pumps.

At press time, Dogecoin is trading at $0.3991, reflecting a 2% drop over the past day. Essentially, the recent data suggests that market participants may still have an opportunity to accumulate Dogecoin cheaply before its next run. For context, Dogecoin soared by 234% within three weeks in November.

How Will Dogecoin Price Go?

Several analysts have provided inputs concerning how Dogecoin’s price could move when the bull momentum resumes.

Bitcoin analyst “Crow” predicts a straightforward path for Dogecoin to hit a new multi-year high following its rebound from $0.36. He expects the price to first rise to $0.48, face a minor pullback, then climb toward $0.52 before targeting $0.66. 

Similarly, Cantonese Cat suggests DOGE may break its all-time high of $0.74 soon, citing patterns from 2021.

Other analysts, like Crypto Scofield, agree that Dogecoin’s bullish momentum is stronger than in November, projecting a $3 to surface “any time soon.”

Here’s How High XRP Can Rise by Christmas, Expert Predicts

Sam Wisdom Raphael
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Here’s How High XRP Can Rise by Christmas, Expert Predicts

CryptoInsightUK, a crypto market educator, presents his XRP price prediction by Christmas, suggesting a bullish uptick.

The market analyst revealed this in a recent disclosure after seeking community opinions on XRP price outlook. CryptoInsightUK set up a poll on X, asking community members to vote on what they believe XRP price could be this Christmas, Dec. 25.

For context, XRP currently changes hands at $2.51, having increased 0.64% this morning. The altcoin is currently building on a gradual bullish momentum that began on Dec. 15, up 4.21% since then as it battles to transcend the $2.4 psychological mark.

Community Opinions 

Amid this battle, CryptoInsightUK asked community members to choose if XRP price will collapse below $2 by Christmas day, trade between $2 and $3.30, or change hands at a range of $3.30 and $5. The market analyst also highlighted an option of a price above $5 by Dec. 25. 

Interestingly, of the 2,033 respondents, most of them, about 36%, revealed that they believe XRP is likely to trade within a range of $2 and $3.30 by Christmas day. Further, 30% of the participants expect XRP to trade between $3.30 and $5. Meanwhile, 26% see the altcoin changing hands above $5.

It bears mentioning that these options are all bullish, suggesting XRP could either hold above the $2 price mark by Christmas day or trade above it. Essentially, 92% of the respondents are bullish on XRP. However, only 8% believe the altcoin could slip below $2 by Christmas day.

Analyst Predicts XRP Price by Christmas

Following the poll, CryptoInsightUK disclosed his own target for XRP, predicting that the asset could rally to a new ATH of $5 between now and the new year. However, he expects XRP to transcend this level as the new year progresses, projecting an upward surge to a double-digit price from January to March 2025.

CryptoInsightUK then sought the opinion of fellow market analyst BobbyA, who is also bullish on XRP’s price outlook. BobbyA noted that he believes XRP price could trade between $4.5 and $5.25 by Christmas day. 

However, he suggested that XRP could face a major selloff after this top but failed to provide insights on the possible support level. Nonetheless, BobbyA sees a rebound to a range of $8 to $13, and then a run toward the $20s after another exhaustive wick.

It bears mentioning that, in a previous analysis, CryptoInsightUK predicted a possible XRP price surge to $8 by Christmas day. As a result, the recent $5 target has triggered questions from investors. The analyst confirmed that the $8 target remains valid but noted that the $5 price is his base case outlook for XRP.

Other market observers have also projected an XRP price rally to $5. For instance, Vincent Van Code expects XRP to reach this level, but believes this target would only materialize in February 2025, not this year. 

Currently, XRP trades for $2.51, up 4.75% over the last 24 hours. The asset would need to soar 99% to claim the $5 price. It bears mentioning that last Christmas, on Dec. 25, 2023, XRP changed hands at the $0.60 level.

Ripple Confirms RLUSD Launch Date, Announces Five Exchanges for Its Initial Listing

Lele Jima
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Ripple Confirms RLUSD Launch Date, Announces Five Exchanges for Its Initial Listing

Ripple has announced the launch date of its highly anticipated RLUSD stablecoin on crypto exchanges. 

The leading crypto payments company noted that the enterprise-grade stablecoin will be available globally today, December 17, 2024. 

In a lengthy blog post yesterday, Ripple claimed that RLUSD prioritizes utility, trust, and compliance, emphasizing that the stablecoin was developed by leveraging its wealth of experience in the crypto and financial sector. 

This comes a week after the New York Department of Financial Services (NYDFS) approved the stablecoin launch. The company had made significant efforts to secure the approval, including acquiring an NYDFS chartered limited-purpose trust company, Standard Custody, earlier this year. 

Standard Custody will distribute RLUSD to exchanges once it goes live today.  

Commenting on the development, Ripple CEO Brad Garlinghouse emphasized the stablecoin’s compliance with the NYDFS limited-purpose trust company charter. He noted that this move sets RLUSD up for greater adoption, especially as the crypto regulatory landscape in the U.S. evolves. 

Supported Exchanges for Initial Listing 

In a follow-up X post, the Ripple CEO said the enterprise-grade stablecoin is for everyone and confirmed that it will be initially available on five exchanges today: Archax, Bitso, CoinMENA, MoonPay, and Uphold. 

Afterward, the stablecoin will soon make its debut on Mercado Bitcoin, Bitstamp, Zero Hash, Independent Reserve, and Bullish. 

Furthermore, Ripple will announce more exchanges for the stablecoin’s launch in the coming weeks. 

RLUSD Features 

The announcement also highlighted the assets backing each RLUSD, which includes U.S. government bonds, USD deposits, and other cash equivalents. 

Notably, Ripple will publish monthly third-party attestations of the stablecoin’s reserve to maintain trust and transparency. 

Currently, RLUSD will launch on the XRP Ledger (XRPL) and Ethereum under the contract addresses rMxCK…8m5De and 0x829…317eD, respectively. 

The firm plans to use the stablecoin alongside XRP in its payment solution. Users can also leverage it as a store of value, shielding themselves from the high volatility in the crypto market. 

Ripple Adds 2 New RLUSD Advisory Board Members 

Unlike most stablecoins, RLUSD has an advisory board featuring prominent financial experts, such as Ripple Chairman and Co-founder Chris Larsen, former FDIC Chair Sheila Bair, and former CENTRE Consortium CEO David Puth. 

The company also added two new board members. They include former Governor of RBI (Reserve Bank of India) Raghuram Rajan and former COO of Federal Reserve Bank of Boston Kenneth Montgomery.  

The board members will focus on supporting RLUSD’s growth and stability by providing the necessary guidance on various financial and regulatory aspects. 

XRP Soars Amid RLUSD Launch Date Announcement 

Meanwhile, the price of XRP spiked massively hours after Ripple unveiled the launch date of RLUSD. XRP, which was trading at $2.36, soared to an intra-day high of $2.56 following the announcement, marking an 8.47% surge. 

Interestingly, XRP has reclaimed the third position in the global crypto ranking, with its market cap standing at $142.44 billion. Currently priced at $2.49, XRP is up 3.72% over the past 24 hours and 14.21% in the last seven days. 

Can XRP Reach $100, $300, or $500 with a Circulating Supply of 57B Tokens

Sam Wisdom Raphael
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0
Can XRP Reach $100, $300, or $500 with a Circulating Supply of 57B Tokens

XRP has been at the center of ambitious price targets, but market participants question its ability to attain some of these levels, citing current supply data.

The crypto market often presents opportunities for investors to transform modest investments into multi-million fortunes overnight. At some point, XRP facilitated a similar investment growth when it soared from a floor of $0.003 in January 2017 to a peak of $3.31 in January 2018.

This rally marked a 109,899% increase in a year. To put this into perspective, investors who invested $1,000 in XRP at $0.003 essentially procured 333,333 XRP tokens. As the price hit $3.31, the value of these tokens skyrocketed to $1.1 million within a year.

XRP’s Historical Performance Fuels Optimism

Due to its historical performance, several new investors who enter the XRP market might expect a similar performance, especially amid prevalent ambitious price targets. Some older holders could also be looking to relive the previous rally.

This optimism has stood on predictions of audacious price targets for XRP. Market watcher Armando Pantoja argued last month that $100 for XRP is feasible. Other projections have set targets of $300 to $500. However, many have dismissed these, citing supply concerns.

For context, XRP currently has a circulating supply of 57.1 billion tokens, with an inflation rate of about 200 million tokens every month. With this circulating supply, XRP now boasts a market cap of $140 billion as its price trades at $2.45, making it the third-largest crypto asset in the market.

XRP Market Cap at Varying Price Targets

A rally back to its all-time high of $3.31 would push XRP to a market cap of $189 billion. Further, if it captures the more feasible target of $6, its valuation would reach $342.6 billion, while a more substantial price of $11 would allow XRP to hit a market cap of $628 billion, above Ethereum’s current valuation but still within reasonable levels.

However, the XRP market would require an exponential surge in capital inflow even to attain $100, much less $300 or $500. For context, a $100 price per XRP would translate to a market cap of $5.7 trillion, exceeding the current global crypto market cap of $3.63 trillion by a mile.

Further, for XRP to claim a $300 value at the current circulating supply of 57.1 billion, its market must attract a total capitalization of $17.13 trillion, rivaling Gold’s market cap, which currently sits at $17.9 trillion. Notably, Gold is the single-largest asset by market cap globally.

Meanwhile, the $500 price target would present the biggest hurdle. XRP would need to command a market valuation of $28.5 trillion for its price to reach $500 with the current supply. This would mark the largest market cap for a single asset in recent history.

Can XRP Hit $100, $300 and $500?

These assessments confirm that with the current market conditions, XRP might not be able to claim the $100, $300, and $500 price targets unless there is a drastic change in market dynamics. However, lower goals like $6 and $11 are readily attainable.

Despite this challenge, analysts at Changelly believe XRP could hit these lofty targets in a few decades. Although they expect XRP to drop below $1 next year, they predict a subsequent exponential growth. These analysts see XRP hitting $100 and $300 in 2040 and eventually claiming $500 by 2050, 26 years from now.

XRP Price Prediction Changelly 7
XRP Price Prediction | Changelly

Can SOL Hit $4,000 In 2025? Expert Weigh In On Its Potential

Mark Brennan
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Can SOL Hit $4,000 In 2025? Expert Weigh In On Its Potential

Solana (SOL) has grabbed attention again as analysts predict a massive price breakout. A “cup and handle” pattern spotted on charts suggests SOL could jump to $4,000 by 2025. This article explains why experts believe this is possible, analyzing recent solana price trends, key technical data, and the latest solana news.

Why Experts Believe in Solana Crypto’s Future

The Solana price is now at $221.89, showing stability despite market ups and downs. A technical pattern, called the cup and handle, signals a strong chance for a big price increase. This chart pattern usually appears before a major upward trend. Analysts say that if SOL clears important price levels, it could see significant growth.

Solana’s growing ecosystem is another reason for its positive outlook. Recent reports confirm that Solana has overtaken Ethereum to become the top blockchain for developers. More developers working on the network adds value to solana crypto, boosting confidence in its long-term role in the market.

Solana The Number 1 Ecosystem
Solana The Number 1 Ecosystem

Technical Data Hints at a Big Price Move

The current data supports predictions of a possible breakout for Solana. The solana price faces two key resistance levels: $283.18 and $328.60. If SOL moves above these points, it could open the door for much higher targets.

Moving averages are showing early signs of strength. The 10-day moving average is now $225.09, while the 50-day moving average stands at $217.17. These numbers suggest the price is steady and could move higher soon.

The Relative Strength Index (RSI) is at 47.37, showing that SOL is not overbought or oversold. This means there’s still room for an upward push. Meanwhile, the MACD level sits at -0.0281, hinting at a possible price reversal.

The solana price prediction depends on clearing these hurdles. Experts agree that breaking above $330 could trigger a major rally. This could eventually bring SOL closer to the ambitious $4,000 target.

Sol 10 December 2024
Sol 10 December 2024

Why Solana Holders Are Staying Optimistic

Even with small price changes, SOL holders remain confident in the market. Reports highlight strong developer activity, which has been increasing. Solana’s ability to attract more developers is a key reason for its growing strength. This confidence is reflected in the growing use of solana wallets and rising interest in the Solana coin.

CAP HODL WAVES SOL
CAP HODL WAVES SOL

These factors will play a major role in supporting Solana’s price. If adoption continues to rise, SOL could hit new highs. The technical outlook and user activity suggest that Solana’s potential remains strong.

Minotaurus (MTAUR): Solana Fans Are All Eyes on It

Solana, however, isn’t the only one making waves. Minotaurus (MTAUR) is also gaining serious traction, proving there’s more to the market than meets the eye. The ongoing MTAUR presale has recently recorded over 850,000 USDT in token sales and 15,000+ community members on board. The price is currently 0.00008106 USDT, offering great potential for anyone looking to join before the price climbs further.

What You Get as an Early Buyer:

  • Current Price: 0.00008106 USDT, giving you a 102.63% boost from the original presale price of 0.00004 USDT.
  • Unlock Features: Use MTAUR tokens to unlock special features that give you an edge in the Minotaurus game.
  • Referral Bonuses: Invite your friends and receive bonuses for both of you.
  • Vesting Bonuses: Benefit from extra bonuses by extending your token vesting period.
  • Giveaway Chance: Enter the 100,000 USDT giveaway and you could win 50,000 USDT in MTAUR tokens!

Don’t wait too long—the presale is almost over and the price will continue to rise! Secure your spot today.

Conclusion: Can SOL Really Hit $4,000?

The combination of technical signals and growing adoption suggests the solana price could climb sharply. If SOL breaks past $330, experts believe it could reach $4,000 by 2025. Solana’s position as a leading blockchain for developers, along with its growing user base, makes the Solana crypto a token to watch closely.

If you’re looking to turbocharge your portfolio while holding Solana, Minotaurus (MTAUR) might be the way to go. Low entry, high potential, and fantastic perks—this presale has it all. Don’t miss out!

WhiteBIT Becomes First Exchange To Achieve The Highest Level Cryptocurrency Security Standard

Albert Brown
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WhiteBIT Becomes First Exchange To Achieve The Highest Level Cryptocurrency Security Standard

WhiteBIT has reached a significant milestone by becoming the first cryptocurrency exchange globally to obtain Level 3 certification under the Cryptocurrency Security Standard (CCSS). Developed by the CryptoCurrency Certification Consortium (C4), this certification represents a new benchmark in cryptocurrency platform security. This accomplishment places WhiteBIT among the top-tier platforms recognized for superior security.

The CCSS is an industry-standard security framework designed to ensure robust protection for cryptocurrency systems. It complements existing ICT security frameworks like ISO 27001 and PCI DSS by introducing specific guidance for best practices in securing cryptocurrencies. The standard includes three levels of certification, with Level 3 representing the highest benchmark, requiring advanced security measures such as multi-signature wallets, access controls, disaster recovery planning, as well as rigorous penetration testing and detailed audit trails for sensitive processes like data sensitization policies.

WhiteBIT’s successful certification was conducted by Hacken, a leading cybersecurity firm accredited by C4 to audit organizations for CCSS compliance. The auditor carried out an extensive review of WhiteBIT’s security infrastructure, following 3 years of preparation. The 2.5-month audit included in-depth inspections of both cold and hot wallets, dozens of hours of interviews with WhiteBIT personnel, and the submission of over 100 artifacts detailing the exchange’s policies, procedures, and security protocols. The final 97-page report reflected rigorous testing and hundreds of questions addressed throughout the process, ensuring full compliance with the stringent requirements of CCSS Level 3.

“This certification is a proof of our strong commitment to safeguarding our users’ assets,” says Volodymyr Nosov, Owner and CEO of WhiteBIT. “In an industry where trust must be earned every day, we have embraced rigorous security protocols that set new benchmarks for excellence. Our goal isn’t just to drive innovation but to ensure that these advancements are built on a secure foundation. The CCSS certification underscores our dedication to providing a safer experience for our global user base of over 5,5 million.”

WhiteBIT’s CCSS certification delivers significant benefits to users:

  • Enhanced Security. CCSS ensures robust protections for user funds and private keys, minimizing risks of hacks or theft through advanced technologies like multisignature wallets.
  • Reduced Risks. The standard mitigates human errors and ensures only authorized personnel can access sensitive systems, safeguarding user assets.
  • Emergency Preparedness. WhiteBIT has recovery systems in place to protect user assets during unforeseen events, providing a safer trading experience.

For WhiteBIT, this accomplishment aligns with its overarching strategy of promoting mass adoption through trust and transparency. Earlier this year, the company also achieved prominence by securing the highest level of PCI DSS certification for payment data protection—a further indication of its dedication towards comprehensive protection measures.

About WhiteBIT

WhiteBIT is one of the largest European centralized crypto exchanges founded in 2018. The exchange offers 600+ trading pairs, 300+ digital assets, and 9 state currencies. The company is an official partner of FC Barcelona, FC Trabzonspor, ESL Faceit, and VISA. The goal of WhiteBIT is the mass implementation of blockchain technology worldwide.

Wealth Mentor Shares Why XRP is Worth Holding for Long Term

Abdulkarim Abdulwahab
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Wealth Mentor Shares Why XRP is Worth Holding for Long Term

Linda Jones, a renowned financial expert and wealth mentor, has recently shared the significance of holding XRP, endorsing a popular video titled “Why Do I Hold XRP?”

The video provides an in-depth look at Ripple’s role in the future of global digital payments and its strategic positioning within the financial ecosystem. It highlights Ripple’s partnerships with major financial institutions and its involvement in international organizations.

Why Hold XRP?

Founded in 2012, Ripple has gradually gained traction among global financial institutions. According to the analyst, Ripple’s strategic positioning, partnerships, and involvement in key financial initiatives suggest XRP’s integral role in the future of cross-border payments.

The presentation noted that Ripple has forged partnerships with over 300 major banks and financial entities. Some of the cited names include Bank of America, American Express, Santander, and the Bank of England.

Furthermore, the analyst highlighted Ripple’s pivotal role in the ISO 20022 migration, which is expected to standardize electronic messaging across financial institutions by 2025. 

The video claimed that Ripple was the first member of the ISO 20022 group focused on DLT, positioning XRP as a key player in this major shift toward digital payments.

Ripple’s influence extends beyond private-sector partnerships. According to the video, the company is deeply involved in international initiatives such as the Better Than Cash Alliance, which includes high-profile organizations like the Bill and Melinda Gates Foundation and the Clinton Global Initiative.

The alliance works toward the United Nations’ Sustainable Development Goals for 2030, with the video speculating that XRP could be utilized in the UN’s carbon credit solution.

Ripple’s Robust Team of Global Experts

Beyond Ripple’s collaborations, the commentator cited the team and leadership of the company as further key reasons for remaining bullish on XRP.

Specifically, Ripple’s team boasts an impressive lineup of former government and financial industry leaders, including former U.S. Treasury officials, Federal Reserve attorneys, BlackRock, SWIFT, PayPal, and Uber executives.

According to the video, this array of talent, coupled with Ripple’s ongoing influence in various global initiatives, reinforces the belief that XRP is positioned for long-term growth.

“Do Ripple and XRP sound like they’re going to disappear, or do they sound like they’re part of a much bigger plan?” the presenter asked, adding, “You decide.”

Wealth Mentor Agrees 

Wall Street analyst Jones expressed her approval of the video, saying, “I love this video! The best.” Her commentary affirms her endorsement of the information and her confidence in Ripple’s future and the potential of XRP.

VanEck Research Head Details How a Strategic Bitcoin Reserve Could Help the US Debt Problem

Albert Brown
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VanEck Research Head Details How a Strategic Bitcoin Reserve Could Help the US Debt Problem

Matthew Sigel, Head of Digital Assets Research at VanEck, outlines how the strategic Bitcoin Reserve could help the United States’ growing debt problem.

His disclosure makes some assumptions for the growth of Bitcoin and the U.S. debt in the future. The recent commentary comes shortly after Sigel confirmed that VanEck endorses the concept, especially after asset management giant BlackRock declined to do so.  

Sigel’s calculations present a conservative picture of how Bitcoin reserves could reduce the burden of rising national debt.  

How the Strategic Bitcoin Reserve Could Help National Debt Problem

For context, the model assumes that by 2025, the U.S. Treasury starts acquiring 1 million Bitcoin over a five-year period at an average price of $250,000 per BTC. This is in line with Senator Cynthia Lummis’ proposal. 

Sigel also assumes that the national debt will grow at 5% annually—a reduction compared to the past decade’s 8% compounded growth rate—reaching approximately $119.3 trillion by 2049. Additionally, he estimates Bitcoin’s price to grow at 25% annually, much lower than its historical 50% 10-year compound annual growth rate.  

Under these assumptions, the value of the Bitcoin reserve by 2049 would reach $52.9 trillion, equivalent to 44.4% of the projected national debt. This analysis has fueled further discussions. 

Some questioned whether a 25% annual growth rate for Bitcoin is realistic over 25 years. Sigel pointed out Bitcoin’s historical performance but suggested lowering the projection to 20% CAGR, which would still result in the reserve holding 30% of federal debt.  

He further stated that even if debt growth increased to 10% annually, Bitcoin’s 25% CAGR would still lead to the reserve accounting for about 15% of U.S. debt.  

Bitcoin Reserve Discussions Gaining Momentum

Notably, the proposal for a Bitcoin reserve has gained traction among U.S. policymakers. Senator Cynthia Lummis introduced a bill earlier this year proposing the U.S. government acquire 1 million Bitcoin, or roughly 5% of Bitcoin’s total supply, to stabilize its fiscal position. 

Lummis has argued that Bitcoin’s finite supply and consistent appreciation make it an ideal asset to counter rising deficits. She compared this plan to the Louisiana Purchase, describing it as an important moment for U.S. economic security.  

The bill is under consideration for bipartisan debate. While some lawmakers recognize Bitcoin’s potential as a long-term reserve asset, others are skeptical about its volatility. 

However, Lummis is optimistic. Forthcoming president Donald Trump himself has voiced support for a Bitcoin reserve, describing it as part of his broader plan to make the U.S. a global leader in cryptocurrency innovation.  

Meanwhile, at the state level, Pennsylvania has already introduced a bill to allocate 10% of the state’s fund to a strategic Bitcoin reserve. Similarly, Texas lawmakers have also proposed the adoption of a strategic Bitcoin reserve. 

Globally, countries like El Salvador have adopted Bitcoin as a national reserve asset. Bhutan has continued to purchase and distribute Bitcoin. Also, a Russian lawmaker has presented the idea of the country adopting a strategic Bitcoin reserve. 

MicroStrategy Snaps Up 15,350 BTC, Investing $5.1B in Bitcoin This Month Amid Major Price Rally

Abdulkarim Abdulwahab
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0
MicroStrategy Snaps Up 15,350 BTC, Investing $5.1B in Bitcoin This Month Amid Major Price Rally

Software service firm MicroStrategy has made a fresh Bitcoin acquisition as the premier asset continues to achieve new price milestones.

Today, MicroStrategy invested an additional $1.5 billion to acquire 15,350 units of Bitcoin at an average cost of $100,386 per unit. Michael Saylor, the company’s chairman, announced this latest acquisition via a tweet a few hours ago.

MicroStrategy Deploys $5.1B in Bitcoin So Far in December

This acquisition coincides with Bitcoin reaching an all-time high of $106,488 today. Although a brief pullback has followed the peak, Bitcoin continues to trade above $105K at press time.

Notably, this marks the first instance in which MicroStrategy has purchased Bitcoin in the $100K price range. Just seven days ago, the company acquired 21,550 units of Bitcoin for $2.1 billion. This particular investment followed one made the previous week when MicroStrategy bought 15,400 BTC for $1.5 billion.

Essentially, MicroStrategy has bought Bitcoin for three consecutive weeks in December. In total, it has committed $5.1 billion toward acquiring Bitcoin this month alone, adding 52,300 BTC to its portfolio.

Following today’s investment, MicroStrategy now holds 439,000 BTC tokens, which it has acquired for $27.1 billion since 2020. This puts its average cost per unit at $61,725 per BTC.

Notably, MicroStrategy’s Bitcoin portfolio is seeing an unrealized profit of $18.77 billion, bringing the total valuation to $45.85 billion. At current holdings, the company controls 2.21% of Bitcoin’s circulating supply. It has also posted a quarter-to-date return of 46.4% and a year-to-date profit of 72.4%.

Saylor annoucing new Bitcoin purchase
Saylor announcing a  new Bitcoin purchase

Six Straight Weeks of Buying with $17B Invested

MicroStrategy’s streak of weekly Bitcoin purchases began on November 11, following Bitcoin’s surge above $75K after the conclusion of the U.S. elections, which saw a pro-Bitcoin president, Donald Trump, elected.

Since then, MicroStrategy has made Bitcoin purchases every Monday, continuing with today’s acquisition. This marks the sixth consecutive week of multi-billion-dollar Bitcoin purchases. Specifically, the company has invested $17.13 billion, acquiring 186,780 BTC tokens over six weeks.

Despite Bitcoin becoming increasingly expensive, MicroStrategy continues to buy the asset regardless of price. As Michael Saylor has repeatedly mentioned, the company expects Bitcoin to eventually reach $13 million per unit, making the current acquisition price of around $100K a “steal.”

Nayib Bukele Reacts as El Salvador’s Bitcoin Portfolio Crosses $632M

Elendu Benedict
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Nayib Bukele Reacts as El Salvador’s Bitcoin Portfolio Crosses $632M

El Salvador’s president, Nayib Bukele, has expressed his delight as the country’s Bitcoin portfolio records massive gains with BTC’s surge past $106,000.

Bukele took to X to highlight the milestone, sharing El Salvador’s Bitcoin portfolio gains. Per the tweet, the country’s stash of the premier asset has crossed the $632 million valuation mark.

El Salvador’s Bitcoin Stash Tops $632M

Notably, a screenshot of El Salvador’s Bitcoin Office platform shows that the portfolio hit $632 million when Bitcoin reached a new all-time high of $106,488. Of the total portfolio value, the country invested $270 million to purchase its 5,966 BTC stash.

Bukere’s post shows that El Salvador has an unrealized profit of $362 million, a staggering 133.95% portfolio increase. Notably, the chart shows that the country’s wallet surged from around $100 million in late 2023 to the new high.

El Salvador Bitcoin Portfolio

Meanwhile, El Salvador maintains its practice of buying one Bitcoin daily until it becomes impossible to acquire with fiat. At the time of writing, the country’s portfolio has reduced slightly to $619 million, following Bitcoin’s retracement to $103,851.

Earlier last year, when El Salvador’s Bitcoin bet started paying off, Bukele criticized legacy media outlets for predicting doom for the country following its adoption of Bitcoin. Despite the country’s massive profits, the IMF still urged the El Salvadoran government last month to reconsider its Bitcoin stance.

Bitget Acquires BSP License in El Salvador

Meanwhile, as El Salvador pursues its Bitcoin-friendly policies, the leading crypto exchange, Bitget, has announced that it has received an official license to operate in the country. In a blog post on Dec 13, Bitget noted that it has acquired the Bitcoin Service Provider (BSP) license from the El Salvadoran Central Reserve Bank.

The authorization allows Bitget to service El Salvador’s residents, offering them Bitcoin-to-fiat conversion, payments, and custody services. Meanwhile, Bitget will pursue the Digital Assets Service Provider (DASP) license, allowing the exchange of a wider range of offerings in the country.

Bitget’s Chief Business Officer, Min Lin, stated that El Salvador is a pioneer in the Bitcoin sector. He sees El Salvador’s entrance as a gateway to unlocking cryptocurrency’s potential and driving a competitive change in the real-world use case.

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