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Crucial XRP Facts Missing as Ripple CEO Calls Out 60 Minutes Coverage

Lele Jima
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Crucial XRP Facts Missing as Ripple CEO Calls Out 60 Minutes Coverage

Ripple CEO Brad Garlinghouse criticizes popular American television program 60 Minutes for omitting a crucial detail about the XRP ruling during the December 8 segment.

On December 8, 60 Minutes released its highly anticipated interview featuring Garlinghouse and former U.S. SEC official John Reed Stark. 

The segment covered various crypto-related issues, including how Ripple and two other crypto companies contributed over $140 million in support of pro-crypto political candidates in the last U.S. election. 

Ripple CEO Criticizes 60 Minutes for Omitting XRP Ruling 

However, the program omitted crucial details relating to the SEC’s lawsuit against Ripple. Notably, Garlinghouse took to X to highlight 60 Minutes’ omission of a federal judge ruling that XRP is not a security in itself.

Apparently, the Ripple CEO might have mentioned this point during the interview when discussing the SEC lawsuit against the company. However, CBS did not include it in the final cut that aired on December 8. 

Meanwhile, the program aired an excerpt of Garlinghouse’s comment, in which he mentioned that he has never considered XRP a security. 

Afterward, it added a counterargument from Stark, who suggested that U.S. judges have repeatedly labeled cryptos as securities. This indicates that the judges’ declaration applies to every crypto asset, including XRP. 

Garlinghouse Slams Former SEC Official 

Reacting to Stark’s claim, the Ripple CEO noted in his tweet that the former SEC official ‘knows better despite his comments.’ 

In a follow-up comment, Garlinghouse accused Stark of misrepresenting key facts about cryptocurrencies and sounding like outgoing SEC Chair Gary Gensler. 

He highlighted some statements Stark made during the 60 Minutes segment that align with Gensler’s rhetoric. They include comments suggesting crypto has no utility other than its use for criminal activities. Garlinghouse noted that even though these comments are false, 60 Minutes did not fact-check before airing them. 

Despite the criticism, Garlinghouse commended Stark for urging the SEC to withdraw its appeal against Ripple.

XRP Soars Amid Rumors of Potential Resolution of SEC v. Ripple Case 

The appeal is currently in the U.S. Court of Appeals for the Second Circuit, with the SEC scheduled to file its opening brief in mid-January 2025. 

However, following Donald Trump’s re-election and the subsequent nomination of a pro-crypto advocate as the next SEC Chair, there are speculations that the commission might drop the Ripple appeal. 

This speculation propelled XRP to a major rally, with the asset reclaiming the third position in the global crypto ranking over the past week. 

However, XRP slumped to fourth place yesterday, following a major downturn across the broader crypto market. It is trading at $2.14 per token and has a market cap of $124.04 billion. 

Analyst Says XRP May Face 50% Dump Before 3,500% Rally, Following Tesla Path

Sam Wisdom Raphael
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Analyst Says XRP May Face 50% Dump Before 3,500% Rally, Following Tesla Path

A prominent market analyst believes XRP is following the same path as Tesla before its parabolic surge, suggesting a massive dump before an explosive rally.

This sentiment is held by notable market commentator EGRAG Crypto, who identified recent events that could determine XRP’s next price direction. According to him, XRP might face a bearish 50% price slump, which could precede a more substantial 3,500% rally.

Tesla Historical Price Action

EGRAG confirmed that this price action would trace the path that electric vehicle company Tesla (TSLA) followed back in 2018. 

For context, Tesla Chief Elon Musk’s most recent 60 Minutes appearance occurred in December 2018, where he discussed how “excruciating” 2018 was and the challenges the company faced while deploying Tesla Model 3. 

Interestingly, a few days after the interview, the TSLA stock slumped from a peak of $25.16 on Dec. 13, 2018. Despite mild, occasional recoveries, the bearish push persisted for six months, with prices hitting a floor of $11.8 in June 2019.

Remarkably, Tesla recovered. The rebound push allowed TSLA to reclaim the peak of $25 by December 2019, exactly six months after the bottom. The asset rallied further to $414.50 by November 2021. This marked an impressive 3,412% increase from the $11.8 floor within two and a half years.

Tesla 1M Chart EGRAG Crypto
Tesla 1M Chart | EGRAG Crypto

XRP Following a Similar Trajectory 

In his latest commentary, EGRAG said XRP would follow a similar price trajectory. Recall that Ripple CEO Brad Garlinghouse also appeared on 60 Minutes on Dec. 8 to discuss the SEC lawsuit, crypto’s role in the latest U.S. election and the regulatory atmosphere.

In an interesting twist, XRP has collapsed following the interview. The asset slumped from $2.61 on Dec. 8 to a bottom of $1.96 the next day, representing a 25% drop. This marked the first time XRP dumped below the $2 mark since reclaiming it on Dec. 2.

XRP 1D Chart
XRP 1D Chart

XRP has since recovered from the $1.96 low, currently trading for $2.15, an 18% drop from the $2.61 price. However, EGRAG believes the bearish price action might continue, as he expects XRP’s drop to reach the 50% mark, just like TSLA in 2018/2019.

For context, a 50% collapse from the $2.61 price would translate to an XRP value of approximately $1.3. If this occurs, XRP will have relinquished the $2 mark, but maintained the $1 territory.

Nonetheless, EGRAG suggested that this dump would precede a more explosive upsurge similar to Tesla’s rally. Should XRP witness a comparative 3,412% increase from the anticipated $1.3 floor, its price will explode to $45.6. If the timeline repeats, this peak will materialize in November 2027.

“If Tesla did it, why not XRP?” EGRAG questioned, as he insisted that both assets aligned. However, he noted that despite the seeming correlation in their algorithms, they are 10x apart. XRP is down 21% over the past week.

Will $10K, $50K and $100K in Dogecoin Bought Now be Worth $1M Ever

Sam Wisdom Raphael
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Will $10K, $50K and $100K in Dogecoin Bought Now be Worth $1M Ever

Dogecoin is capable of bringing in returns for investors, but the extent of these returns remains a matter of contention.

This is largely due to the varying speculations surrounding Dogecoin’s potential. The original meme coin has largely faced market uncertainty due to an extensive consolidation phase that has persisted since Nov. 12.

Notably, following Donald Trump’s election victory on Nov. 5, DOGE was one of the biggest beneficiaries of the resulting uptrend, spiking 171% from $0.1582 to a peak of $0.4385 on Nov. 12. However, after facing a roadblock at this level, Dogecoin has consolidated.

Dogecoin Accumulation Amid Optimism 

Despite the consolidation, it continues to witness gradual price upticks, currently trading for $0.45 at press time. Amid this encouraging price action, market experts remain optimistic of Dogecoin’s potential to renew the bullish uptrend and witness a massive spike.

For instance, Kevin, a Dogecoin analyst, predicted that the next Dogecoin leg-up could begin soon, projecting a possible price run of $4. Astrones, another market expert, also believes the forthcoming uptrend could allow Dogecoin to claim the $3 to $5 range.

As investors await these rallies, some have procured DOGE in anticipation. Late last month, The Crypto Basic confirmed that whales procured about 550 million Dogecoin over a 1-week period, bringing their cumulative balance to 20.6 billion DOGE.

As this accumulation trend persists, some investors look to reach the coveted $1 million investment milestone. However, this would require a substantial initial investment capital and a massive spike in Dogecoin’s price. 

Can $10K, $50K and $100K in DOGE be Worth $1M by 2040?

Projections from Changelly analysts could provide a guide to the timeframe necessary for DOGE to reach the appropriate price for such a milestone. For the sake of this assessment, we considered investments of $10,000, $50,000, and $100,000 in Dogecoin.

Analysts at Changelly believe Dogecoin could begin 2040 with a price of $9, reaching $11.19 in January of that year. Interestingly, they expect the price to rise substantially as the year progresses, predicting a maximum price of $72.76 by October 2040.

At this price, most modest investments today could yield massive returns. Currently, $10,000 invested in Dogecoin would procure 22,222 tokens. These tokens’ worth will skyrocket to $1.59 million if Dogecoin reaches a price of $72.

Meanwhile, $50,000 in DOGE today amounts to 111,111 tokens. This investment will yield nearly $8 million at a Dogecoin price of $72. In addition, the $100,000 investment, which will purchase 222,222 tokens today, would bring in returns of $16 million if DOGE hits $72.

Despite the enticing nature of this assessment, investors should understand that this Dogecoin price target is largely speculative. At a price of $72, DOGE would have a market valuation exceeding $10 trillion, making the prospect of such a price rather unlikely.

NOW Wallet Review 2024: Store, Manage, Exchange, And Stake All Popular Cryptocurrencies In A Single Interface

Albert Brown
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NOW Wallet Review 2024: Store, Manage, Exchange, And Stake All Popular Cryptocurrencies In A Single Interface

According to CoinMarketCap, the global crypto market capitalization is currently at $3.61 trillion and shows strong indicators of robust growth, largely driven by institutional interest and increased adoption across decentralized finance (DeFi), NFTs, and other asset categories. 

During the ongoing bull cycle, the need for intuitive, secure, and versatile crypto wallets has never been greater. Services like NOW Wallet are well-positioned to cater to this demand by combining non-custodial architecture with features like staking, NFT support, and multi-chain compatibility. 

In a bull market where opportunities abound but risks are equally prevalent, the shift toward non-custodial wallets is not just a trend but a necessity for anyone serious about navigating this dynamic landscape. NOW Wallet enables users to fully engage in the expanding crypto economy without sacrificing security or control.

NOW Wallet’s Non-Custodial Access

NOW Wallet’s non-custodial setup allows users to keep complete control over their private keys and funds, so there is no dependency on a third party. This shields them from risks such as hacks often experienced by custodial services. Unlike custodial platforms, non-custodial solutions do not require registration or extensive KYC processes for crypto-to-crypto transactions.

Other Security Features

NOW Wallet has put measures in place that should help protect the funds of users by making use of a 12- or 24-word mnemonic phrase. Mnemonics not only serve as a foundational layer of wallet protection but also enable the recovery process if users lose their devices and simplify the import of existing wallets from services like Trust Wallet to NOW Wallet. 

Furthermore, NOW Wallet applies the three-layer encryption while providing users with the option to enhance the wallet’s protection by utilizing biometric identification like fingerprint or face ID together with the PIN. 

Although NOW Wallet provides upgraded protection measures, it reminds users to be careful, suggesting that they do not connect to the wallet through public Wi-Fi and do not share their credentials.

Multi-Currency Support

NOW Wallet provides extensive support for over 70 blockchains and 1,500 tokens. It includes a range of large-cap altcoins such as Litecoin (LTC), Stellar (XLM), privacy coins including Monero (XMR) and ZCash (ZEC) and popular DEX-exclusive tokens like Uniswap (UNI) and SushiSwap (SUSHI). 

Moreover, the wallet allows users to add custom tokens from supported EVM-compatible blockchains and the Tron network, even if those tokens are not initially listed in the wallet interface. This gives users flexibility in managing their digital assets.

For users without cryptocurrency, NOW Wallet offers a straightforward way to purchase crypto directly through multiple payment methods. These include bank transfers, Visa/Mastercard, and mobile wallets like Apple Pay and Google Pay. Supporting over 60 fiat currencies, including USD, EUR, GBP, CAD, and others, NOW Wallet ensures a seamless on-ramp into the crypto space for users worldwide. However, it should be noted that fiat-to-crypto and vice versa require KYC registration with NOW Wallet’s partner services.

NFT Support

It is also worth noting that NOW Wallet offers outstanding NFT features, enabling users to manage and store their assets conveniently and safely. This feature enables the users to store their NFTs safely within the integrated application, eliminating any possibility of risks associated with storage on third-party services. Also, with NOW Wallet, it is easy to categorize NFT assets, making it easy to manage and portray the treasures one holds.

In-App Crypto Swaps

A standout feature of NOW Wallet is its integrated exchange service, powered by ChangeNOW, a renowned non-custodial crypto exchange platform. This allows users to perform crypto-to-crypto swaps directly within the wallet, without the need for external exchanges. The wallet also supports real-time, cross-chain swaps via DEX integration, providing users with greater convenience and control over their transactions.

Staking Opportunities

NOW Wallet has introduced advanced staking features that allow users to earn rewards by participating in network consensus. This functionality enables crypto holders to generate passive income by simply holding their assets while contributing to the security and stability of the chosen network.

Currently, the wallet supports staking for several proof-of-stake (PoS) cryptocurrencies, including Tron (TRX), Binance Coin (BNB), Solana (SOL), NOW Token (NOW), and more. The intuitive interface makes it easy for users to track their staking rewards and keep an eye on the performance of their staked assets.

Users staking NOW Token can earn a 6.25% APR, with increasing rewards the longer tokens are staked. An anti-inflation mechanism reduces rewards after every 1.5 million NOW tokens are distributed, maintaining token demand. To ensure fairness, staking is capped at 100,000 NOW tokens per user.

Additional Features for All-in-One Experience

DApp Integration

NOW Wallet has direct compatibility with WalletConnect, making it possible to connect to the decentralized applications, or dApps, on several leading blockchains such as Polygon, AVAX, Optimism, and others. This paves the way for other activities like yield farming, lending, blockchain gaming, and so on. 

Greater Control Over ETH Transactions

For a sophisticated user experience, the wallet includes additional transaction management characteristics, such as the account nonce for Ethereum transactions, to impart higher accuracy in managing operations in cryptocurrencies. 

Cross-Platform Availability

NOW Wallet runs on both mobile devices (iOS, Android) and computers (macOS, Windows, Linux) and has user scores of 4.5 and above in various stores. 

24/7 Online Support

NOW Wallet’s customer support service is available 24/7 through the in-app chat. The support team is frequently praised for its high competence and can assist with processing transactions even if a user selects the wrong token, network, or deposit amount.

Business-Ready Solutions

NOW Wallet’s POS integration with the NOWPayments API enables businesses to accept over 300 cryptocurrencies. It offers features like personalized invoices, crypto-fiat exchanges, and transaction reports. Businesses retain full custody of funds and can use P2P and QR codes for easy crypto payments.

Cashbank on Every Exchange and Other Pro Benefits

NOW Wallet offers an enticing cashback reward program through ChangeNOW Pro. Users can earn up to 0.2% of their transaction volume back as cashback for every exchange made, adding value to their operations. The cashback rewards can be easily tracked within the wallet, helping users stay informed about their earnings. This feature is part of the NOW ecosystem’s commitment to enhancing the user experience, providing both practical and rewarding services to cryptocurrency users. 

Other Pro benefits for NOW Wallet users include AML address checks, private web pages for receiving crypto funds, and unlimited crypto loans.

Conclusion

NOW Wallet offers a versatile, multi-purpose platform that caters to the needs of a diverse user base, from first-time crypto adopters to seasoned investors. Its extensive multi-currency support, built-in exchange, staking options, and NFT functionality make it a comprehensive solution for the evolving blockchain landscape.

Whether you’re diving into DeFi, exploring NFTs, or managing a portfolio during the bull market, NOW Wallet bridges the gap between crypto innovation and user-friendly design, ensuring you’re equipped to thrive in the decentralized future.

Redefining The AI Ecosystem: Alethea AI’s Role In Shaping A Decentralized Future

Mark Brennan
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Redefining The AI Ecosystem: Alethea AI’s Role In Shaping A Decentralized Future

The rise of artificial intelligence (AI) and blockchain technology has paved the way for a paradigm shift in how intelligence is created, owned, and monetized. Centralized systems, which have long dominated the AI space, are giving way to decentralized architectures that prioritize user empowerment, transparency, and autonomy. At the forefront of this transformation is Alethea AI, a trailblazer in merging AI with blockchain technology to build scalable, intelligent ecosystems.

From the launch of the first intelligent NFT (iNFT) to pioneering advancements in agentic AI systems, Alethea AI has consistently redefined what is possible at the intersection of these two revolutionary technologies. This article takes a closer look at Alethea AI’s journey and its groundbreaking contributions to a decentralized future.

Laying the Foundation: iNFTs and Noah’s Ark

Alethea AI first made waves in 2021 with the launch of Alice, the world’s first intelligent NFT. Unlike traditional NFTs, which were static digital assets, iNFTs introduced intelligence, adaptability, and interaction to the blockchain. By combining blockchain’s permanence with AI’s dynamism, Alethea AI transformed NFTs into living digital assets capable of learning and evolving.

Building on this innovation, Alethea AI introduced Noah’s Ark, an intelligent metaverse designed to preserve and evolve the culture and collective intelligence of humanity. Using the iNFT Protocol, Noah’s Ark allowed users to create and deploy AI-driven personas within a decentralized ecosystem. This project showcased Alethea AI’s vision for a collaborative, user-driven AI economy, where creators could fully own and monetize their digital creations.

These foundational innovations established Alethea AI as a leader in pushing the boundaries of AI and blockchain integration, setting the stage for its future advancements.

Advancing the Vision: From CharacterGPT to Decentralized AI Systems

The introduction of CharacterGPT in early 2023 marked another significant milestone for Alethea AI. This platform democratized the creation of intelligent characters, allowing users to generate fully interactive digital personas from simple text prompts. By blending the accessibility of AI with the creativity of Web3, CharacterGPT empowered users to design characters tailored for storytelling, gaming, education, and more.

CharacterGPT also emphasized personalization and control, providing advanced customization tools that resonated deeply with creators. By simplifying the process of creating intelligent characters, Alethea AI opened the door for broader participation in the decentralized AI economy, reinforcing its commitment to inclusivity and innovation.

Now, Alethea AI is advancing this vision even further with decentralized AI systems that integrate liquidity mechanisms. As detailed in its research paper, Liquidity is All You Need, Alethea AI is exploring how bonding curve-based token economies can enable AI agents to operate autonomously within decentralized ecosystems. This approach ensures scalability, trustlessness, and fair value discovery, unlocking new possibilities for tokenized intelligence.

The Power of Decentralization: Liquidity and Autonomy

Decentralization is at the heart of Alethea AI’s mission to redefine the AI ecosystem. By embedding liquidity into AI agents, Alethea AI creates a framework where these systems can function as independent economic entities. The research paper notes, “The capital efficiency and scalability of deploying tokenized intelligence extricates agentic generative AI systems from the friction of traditional economic markets and the reliance on centralized entities.”

This decentralized model offers several advantages:

  • Autonomy: AI agents can issue and trade their own tokens, participate in governance, and engage with users independently.
  • Transparency: Blockchain technology ensures that all operations and transactions are trustless and immutable.
  • Scalability: The integration of bonding curves and liquidity pools enables AI systems to handle large-scale interactions without the limitations of centralized infrastructure.

By enabling AI agents with these capabilities, Alethea AI is building a decentralized ecosystem where ownership, governance, and value creation are shared among users, creators, and developers.

Connecting Innovation to Vision

Alethea AI’s innovations are not just technological advancements—they are part of a broader vision to empower humanity through decentralized intelligence. In an interview with CoinDesk, Arif Khan, CEO of Alethea AI, explained, “at every single level, if you bake in decentralization and an open ethos, you get tremendous opportunity to innovate. You are not stuck by centralized control.”

This vision extends beyond individual projects like iNFTs and CharacterGPT. It encompasses a future where decentralized AI systems redefine how we interact with technology, shifting power from centralized entities to individuals and communities.

By continuously pushing the boundaries of what is possible, Alethea AI is not only shaping the decentralized AI ecosystem but also inspiring a global movement toward ethical, inclusive, and transparent AI development.

A Decentralized Future Awaits

As the world embraces the potential of decentralized AI, Alethea AI remains at the forefront of this revolution. Its journey from iNFTs to liquidity-enabled agentic AI systems showcases a relentless commitment to innovation and user empowerment. By integrating blockchain and AI in groundbreaking ways, Alethea AI is creating ecosystems that are not only intelligent but also equitable and sustainable.

Through its visionary leadership and technological expertise, Alethea AI is setting a new standard for decentralized intelligence. The future of AI is here, and with Alethea AI leading the charge, it promises to be dynamic, inclusive, and transformative.

Pundit Says XRP Will Retire a Lot of People: Here’s How

Sam Wisdom Raphael
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Pundit Says XRP Will Retire a Lot of People: Here’s How

Amid the resilience demonstrated by XRP, a market pundit insists the altcoin will be the reason multiple investors finally retire.

The crypto market is currently facing investor uncertainty after a previous upsurge triggered by the latest Bitcoin (BTC) push toward $100,000. Despite the pullback that ensued, XRP has shown resilience against further bearish pressure. As a result, the altcoin has held above $2.4 for days.

This comes after a massive uptrend that allowed it to breach $2 on Dec. 1. Since recently overcoming the $2 mark for the first time in seven years, XRP has not dropped below the price mark despite the occasional pullbacks. This has bolstered confidence in its potential.

Optimism Around XRP’s Potential

For instance, Bark, a crypto market pundit and founder of Bark Media, boldly asserted that XRP is going to give multiple investors the necessary returns to allow them to retire. Notably, the goal for a lot of crypto investors is to make enough profit to retire from work.

However, the requirements for retirement vary depending on the investor’s geography and his appetite. While some individuals could retire on $700,000 if they live in a low-income country with less cost of living, others who live in places like the U.S. might require more to comfortably retire.

Notably, a report from CNBC earlier in the year confirmed that a resident of Hawaii would need $2 million to retire for 25 years, marking the highest retirement threshold for any state in the U.S. However, the average 30-year retirement threshold in the U.S. is a little above $1 million.

Given these realities, certain proponents have wondered if just holding XRP could retire an investor. Considering a retirement threshold of $2 million, above the average, an investor could hit this level based on his capital and the price targets that XRP is able to claim.

At What Price Can XRP Retire Investors?

This assessment would consider an initial investment of $10,000, allowing an entry point for the average retail investor. If an investor buys $10,000 worth of XRP at the current price of $2.44, he would procure 4,098 XRP tokens. 

Notably, for these tokens to hit the retirement threshold of $2 million, XRP must reach an ambitious price of $488 per token. This would mark a massive appreciation rate of 19,900% for the altcoin, pushing its market cap to an audacious $27.8 trillion. 

The chances of this materializing within the next few years are rather slim. As a result, investors looking to retire with XRP might need to commit more than $10,000 at current prices. For instance, a $400,000 investment in XRP would yield the $2 million retirement threshold at $12, a more realistic target.

However, investors who already procured XRP before its recent breakout have better chances of retiring at lower price targets. Interestingly, an investor who procured $100,000 worth of XRP when it consolidated at $0.5 from Nov. 1 to 4, would have 200,000 tokens. These 200,000 XRP would be worth $2 million at a $10 price.

Nonetheless, while these estimates can be rather enticing, it is important to note that they rely on speculative assessments. There is no guarantee that XRP would reach $10, $12 or any target necessary to make an investor retire. 

Binance Founder CZ Says Bitcoin ‘To the Moon,’ Citing Nation-State Adoption

Albert Brown
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Binance Founder CZ Says Bitcoin ‘To the Moon,’ Citing Nation-State Adoption

Former Binance CEO CZ predicts Bitcoin will “go to the moon,” citing utility and nation-state adoption potential.

Last week, Bitcoin surged to a new all-time high of $103,650. However, the momentum quickly waned as bearish activity drove the price downward. 

Over the last 24 hours, Bitcoin’s value fell 1.3% to $98,978, though it remains up 4.19% over the past week. Amid this volatility, notable industry figures, including Changpeng Zhao, the former CEO of Binance, and MicroStrategy’s Michael Saylor, have weighed in on Bitcoin’s future trajectory.

Bitcoin as the Future of Money

During a recent discussion, Zhao addressed Bitcoin’s evolving role, emphasizing its utility beyond an investment asset. He highlighted how Bitcoin’s perception could shift over the next decade as nations potentially adopt it as a strategic reserve. 

According to Zhao, this would likely bolster Bitcoin’s value mathematically. He refrained from providing a specific price prediction, stating it is difficult to quantify Bitcoin’s long-term potential. Notably, when pressed for a number, Zhao reiterated his belief in Bitcoin’s unlimited upside, responding simply, “To the moon.”

Zhao’s remarks came as the crypto’s recent volatility captured global attention. Despite short-term price fluctuations, Zhao suggested Bitcoin’s adoption as a medium of exchange and its integration into national reserves could redefine its role in the financial ecosystem.

Saylor Projects Exponential Growth for Bitcoin

Similarly, during an interview, Michael Saylor reiterated his perspective on Bitcoin’s transformative potential. He described Bitcoin as “digital capital” and highlighted its attributes such as portability, programmability, and resilience against centralized risks.

Saylor predicted exponential growth for the cryptocurrency, estimating its valuation could expand from $2 trillion to $280 trillion by 2045. This translates to a price of $13 million per Bitcoin. Interestingly, Binance founder CZ believes any number slammed on Bitcoin is attainable.

Meanwhile, Saylor explained MicroStrategy’s unique strategy of leveraging financial instruments like convertible bonds to accumulate BTC. He argued that this approach aligns with the objectives of public companies and bridges traditional finance with the crypto economy. Additionally, he drew parallels between Bitcoin’s adoption curve and historical technological advancements.

Notably, MicroStrategy has invested over $25 billion to acquire over 423,000 BTC tokens since 2020.

Keiser Amplifies Forecast 

Max Keiser, an advisor to El Salvador’s pro-Bitcoin government, has also raised his Bitcoin price prediction. Inspired by Saylor’s proposed strategy, Keiser increased his target from $200,000 to $2.2 million per Bitcoin. 

Saylor had earlier suggested that the U.S. could counter economic threats from BRICS nations by adopting Bitcoin as a reserve asset. He even proposed selling U.S. gold reserves to acquire Bitcoin, which he argued could drive global adoption and significantly increase Bitcoin’s value.

Crypto ETPs Hit Record inflows in One Week, As Ethereum Inflows Hit $1.2 billion

Abdulkarim Abdulwahab
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0
Crypto ETPs Hit Record inflows in One Week, As Ethereum Inflows Hit $1.2 billion

The latest data shows that the digital asset market witnessed a historic week, with investment products attracting record inflows of $3.85 billion, led by Bitcoin investments.

This milestone surpasses the previous high achieved just weeks earlier, pushing year-to-date (YTD) inflows to $41 billion. Additionally, total assets under management (AuM) for digital assets have reached a new peak of $165 billion, nearly double the $83 billion high from the 2021 cycle.

Bitcoin Dominates the Weekly Inflow Records

Bitcoin remained the primary beneficiary of the latest record-breaking weekly inflow. It secured $2.5 billion in weekly inflows, bringing its YTD total to $36.5 billion.

This new record follows Bitcoin’s historic milestone in the spot market, where its floor value surpassed $100K last week. After overcoming the $100K barrier, the premier asset went on to establish its all-time high at $104,000. 

While Bitcoin’s price continued to consolidate in the $90K region after its record rally, it later achieved another historic milestone by closing above $100K for the first time ever on December 8.

This development affected Bitcoin products, spilling over to the broader crypto market.

Record Inflows in Ethereum ETPs

Ethereum investment products, in particular, experienced their largest weekly inflow ever, amassing $1.2 billion. This figure even surpassed the hype surrounding ETF launches earlier this year.

In contrast, Solana-based ETPs continued to face challenges, with $14 million in outflows marking their second consecutive week of declines.

Amid these developments, short Bitcoin products saw muted inflows of $6.2 million. This indicates a cautious stance among investors amid Bitcoin’s historic price surge.

Bitcoin leading crypto inflows
Bitcoin leading crypto inflows

U.S. Leads Regional Inflows

Regional inflows were dominated by the United States, which accounted for $3.57 billion of the total. Notably, U.S.-based ETFs also saw their cumulative BTC holdings surpass that of Satoshi Nakamoto last week.

Meanwhile, Switzerland followed with $160 million, while Germany, Canada, and Australia recorded $116 million, $14 million, and $10 million, respectively.

US ETFs leading the charge in inflows
US ETFs leading the charge in inflows

Other Highlights

Blockchain equities also saw a resurgence, with inflows of $124 million—the highest since January 2024. This surge reflects growing optimism in improving profit margins for Bitcoin miners, a key indicator of the sector’s health.

Bitcoin ETFs Have Seen $10B Inflows Since November

Sam Wisdom Raphael
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0

The crypto market has witnessed a massive surge in interest, with Bitcoin ETFs and other crypto products attracting massive inflow since Trump’s win in November.

According to a disclosure from André Dragosch, Bitwise’s Head of Research for Europe, the week ending Dec. 6 marked a historic high of $4 billion in global net inflows into crypto exchange-traded products (ETPs). This was an all-time high in weekly netflows.

Bitcoin and Ethereum ETFs Lead the Way

Expectedly, this surge was largely driven by Bitcoin and Ethereum ETFs. Bitcoin ETFs experienced significant inflows throughout the week, totaling $2.74 billion across ten funds, according to blockchain analytics firm Lookonchain. 

Data from Sosovalue confirms that the cumulative net inflow reached $33.43 billion by Dec. 6, with daily inflows peaking on December 5 at $766.66 million. Total net assets rose to $112.74 billion. 

Spot Bitcoin ETFs
Spot Bitcoin ETFs

Meanwhile, Lookonchain also revealed that Ethereum ETFs saw steady growth, attracting $826.7 million across nine funds during the week. Daily inflows reached a top of $428.44 million on Dec. 5, with the cumulative total inflow reaching $1.41 billion by December 6. Total net assets for Ethereum ETFs rose to $13.36 billion.

Spot Ethereum ETFs
Spot Ethereum ETFs

Political Developments Drive Market Optimism

In a report today, Bloomberg pointed out that the surge in inflows coincided with the aftermath of Donald Trump’s election victory on Nov. 5. Since Election Day, US-based Bitcoin ETFs have attracted nearly $10 billion in investments, raising their total assets to approximately $113 billion. 

According to Bloomberg, the President-elect’s favorable stance on cryptocurrencies, including plans to introduce supportive regulations and the possibility of a national Bitcoin reserve, has fueled market optimism. Since the election, investors have taken off 180,000 BTC from exchanges.

Bitcoin’s price clinched the historic $100,000 milestone for the first time on Dec. 5. However, it experienced a mild pullback, dropping below the threshold during this period. BTC has since recovered the $100,000 psychological level, currently trading for $100,348 amid a 0.53% increase over the last 24 hours.

This rally has extended Bitcoin’s gains over the past six weeks, marking its longest winning streak since 2021. Despite some volatility, investor sentiment remains bullish amid expectations of continued regulatory support. Trump has already appointed pro-crypto candidates as SEC Chair and White House Crypto Czar.

Meanwhile, Ethereum, despite underperforming earlier, has now picked up the pace. The altcoin king now eyes the $4,000 mark, currently trading for $3,930 as it increases 0.94% in the past hour.

MicroStrategy Cops 21,550 Bitcoin in Latest Acquisition; Here’s How Much It Has Spent on BTC This Year

Lele Jima
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0
MicroStrategy Cops 21,550 Bitcoin in Latest Acquisition; Here’s How Much It Has Spent on BTC This Year

Leading business intelligence company MicroStrategy increases its Bitcoin holdings by 21,550 BTC, bringing its total holdings to over 400,000 BTC. 

The company emphasized its commitment to Bitcoin as a reserve asset as it confirmed another groundbreaking purchase. MicroStrategy announced the development through a recent filing with the U.S. Securities and Exchange Commission (SEC). 

MicroStrategy Buys 21,550 Bitcoin for $2.1 Billion 

According to the announcement, the company splashed $2.1 billion to acquire 21,550 Bitcoin between December 2 and December 8, 2024. Notably, they paid an aggregate purchase price of $98,783 per Bitcoin, which included fees and other expenses. 

Per the announcement, MicroStrategy acquired the Bitcoin tokens using proceeds from its recent stock sales. Specifically, it sold 5,418,449 (5.41 million) of its Class A common stock during the same period. 

Following the sales, MicroStrategy raised $2.13 billion, with 98.59% of the proceeds used to finance its latest Bitcoin purchase. 

MicroStrategy Bitcoin Portfolio Surpasses 400,000 BTC 

Notably, MicroStrategy and its subsidiaries hold a total of 423,650 Bitcoin tokens as of December 8, 2024. Data confirms the company acquired these assets at a price of $25.6 billion, with each BTC costing $60,324. 

At the current price of $98,931, MicroStrategy’s Bitcoin portfolio is valued at $41.91 billion. Interestingly, the value of MicroStrategy’s Bitcoin holding has soared by 68.7% since the beginning of this year. 

MicroStrategy 2024 Bitcoin Purchase Almost Doubles Its 2025 Target 

MicroStrategy is not slowing down on its Bitcoin accumulation spree. According to Bitcoin Archive, the business intelligence company has already purchased $19.643 billion worth of BTC in 2024 alone. 

Notably, MicroStrategy’s 2024 BTC spending is nearly 2x the amount it planned for 2025, which stands at $10 billion. 

Bitcoin Supply Dynamics  

Despite MicroStrategy’s hefty acquisition of Bitcoin, Maartunn, a popular analyst at CryptoQuant, downplayed the company’s influence on the overall BTC market. According to the expert, MicroStrategy represents only a piece of Bitcoin’s supply dynamics. 

Specifically, Maartunn highlighted that while long-term Bitcoin holders offloaded 734,000 Bitcoin over the past 30 days, MicroStrategy acquired 171,000 BTC during the same period. 

Furthermore, the expert claimed that Bitcoin ETF issuers increased their holdings by 75,900 BTC over the past month. Short-term holders accounted for the largest portion of Bitcoin supply in the past month, with over 487,000 BTC absorbed by these traders. 

This suggests that despite MicroStrategy’s hefty acquisition of BTC, the broader Bitcoin market is still relevant in the asset’s supply.

In the meantime, Bitcoin is trading at $98,931, down 1.11% over the past 24 hours. Even though Bitcoin has surged tremendously over the past month, MicroStrategy’s chairman predicted that BTC will trade at $13 million by 2045, 21 years from now. 

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