Bitcoin's recent surge to $45,000, a first since early last year, is turning heads, even among crypto-skeptics.
After a tumultuous period, including the FTX scandal which saw Bitcoin plummet to near $15,000, the cryptocurrency has shown resilience in 2023.
Despite a rocky journey with alternating gains and setbacks, Bitcoin has reignited market enthusiasm, notably crossing the $40,000 mark recently.
Image: CoinDesk
This upswing seems to be driven by growing optimism around Bitcoin ETFs and decreasing interest rates.
The prospect of Bitcoin ETFs by major financial institutions like BlackRock, Fidelity, and Franklin Templeton has stirred excitement.
These ETFs, potentially accessible via regular brokerage accounts, could simplify Bitcoin investment for the average American, bypassing the complexities of crypto exchanges or wallets.
Yet, amidst this bullish trend, uncertainties linger. The potential impact of mainstream financial institutions on Bitcoin's sustainability remains a topic of debate. Meanwhile, the crypto industry is still reeling from the fallout of FTX's collapse.
Binance, another crypto giant, has agreed to a $4.3 billion settlement with U.S. regulators, and CEO Changpeng Zhao stepped down, replaced by Richard Teng.
Teng's first major public appearance, described as unconvincing by CoinDesk's Helene Braun, raises questions about transparency in the industry.
As Bitcoin's resurgence sparks renewed interest, the enduring question remains: will this rally mark a significant shift towards mainstream acceptance, or is it just another fleeting wave in the volatile crypto market?
Data from the Bank of Korea (BOK) has showed that the number of cryptocurrency investors in Korea has reached 15.59 million as of November, an increase of 610,000 compared to the previous month, representing more than 30% of Korea's entire population of approximately 51.23 million.
XingChiLuxury brands and businesses like Printemps, S.T. Dupont, and Virgin Voyages are now accepting Bitcoin as payment, driven by its record value of over $108,000. This shift highlights growing interest in cryptocurrency for high-end purchases despite challenges like consumer education and regulatory barriers.
WeatherlyMicrosoft shareholders overwhelmingly rejected a proposal to add Bitcoin to the company's balance sheet, with only 0.55% in support. The board expressed concerns about Bitcoin's volatility, despite acknowledging its potential as an inflation hedge.
WeatherlyEl Salvador and Argentina have signed an agreement to collaborate on cryptocurrency regulation and innovation in Latin America. The deal aims to share expertise, boost crypto growth, and strengthen the regulatory framework for digital assets in both countries.
AnaisFormer Binance CEO Changpeng “CZ” Zhao Predicts China could beat the United States of America at building a Strategic Bitcoin Reserve.
XingChiBinance has not yet decided on its new global headquarters due to complexities like tax laws and talent acquisition challenges. Legal troubles, including Changpeng Zhao's legal issues and a $4.3 billion fine, have led Binance to restructure its leadership and adopt better governance strategies.
WeatherlyBilly Markus, the founder of Dogecoin, recently shared regret about selling 37.37 bitcoins in 2015 for $424,152.54 — a decision that would now be worth over $368 million. Despite stepping away from Dogecoin in 2015, Markus reflects on its impact as a cultural icon while highlighting its true value lies in its community and shared ideals, not just market performance.
WeatherlyBitcoin has reached a new all-time high, surpassing $100,000, while CZ remains unaffected by the surge, holding onto the same amount of Bitcoin. Binance Coin (BNB) also hit a record high, but CZ’s focus remains on Bitcoin’s long-term value rather than its fluctuating price.
WeatherlyMeitu sold its entire crypto portfolio, making nearly $80 million just before bitcoin’s surge above $100,000. The company plans to distribute 80% of the gains to shareholders and refocus on its AI-driven apps.
AnaisBitcoin surpassed $100,000 on 5 December, driven by growing optimism following Trump’s pro-crypto appointments, including Paul Atkins for SEC Chair. This milestone signals investor confidence in a crypto-friendly future under Trump’s upcoming administration, which takes office on 20 January 2025.
JoyLayer 2 of general computing smart contracts on Bitcoin has always been a problem because the Bitcoin network cannot be relied on to ensure the security of smart contracts.
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