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2024-02-27 22:40:00 MicroStrategy Is a Timely Play on Bitcoin Halving; Initiate at Buy: Benchmark

MicroStrategy (MSTR) has a unique business model based on the acquisition and holding of bitcoin (BTC), which represents the majority of the software company’s valuation, investment banking firm Benchmark said in a Tuesday research report initiating coverage of the stock. Benchmark has a buy rating on the shares with a $990 price target. MicroStrategy added about 8% to $860.75 in early trading on Tuesday.

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2024-02-27 13:11:10 HTX withdraws license application in Hong Kong

HTX’s Hong Kong entity has withdrawn its application to operate as a “virtual asset trading platform,” offering retail trading services, the local regulator’s website showed. HBGL Hong Kong Limited, also known as Huobi HK, initially submitted the exchange license application last week only to withdraw three days later on Feb. 23, the South China Morning Post reported, citing the Securities and Futures Commission’s list of license applicants.

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2024-02-26 21:35:48 Bitcoin investors realize net profits for 128 consecutive days

Quick Take Net realized profit-taking for Bitcoin has witnessed an unbroken streak of 128 days, starting from Oct. 20, 2023, until Feb. 25, 2024. This period saw Bitcoin’s price catapult from below $30,000 to $50,000, providing lucrative opportunities for investors. Defined by Glassnode, the net realized profit/loss represents the cumulative profit or loss from all.

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2024-02-26 09:03:03 US Spot Bitcoin ETFs Surpass $50B Cumulative Trading Volume

The $50 billion milestone comes amidst the investment vehicles’ return to inflows on Thursday. Spot Bitcoin exchange-traded funds (ETF) have surpassed a staggering $50 billion cumulative trading volume since trading started in the United States on January 11. The milestone, achieved on Thursday, February 22, marks a 76.68% surge from the 28.3 billion cumulative volume recorded at the beginning of the month, according to data from BitMEX Research.

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2024-02-25 23:55:19 Riot Platforms Bitcoin mining output surged by 19% in 2023: report

The cost of mining Bitcoin in 2023, after factoring in power credits allocated to self-mining, averaged $7,539 per Bitcoin. This marks a 33% decrease from the $11,225 average in 2022. Jason Les, CEO of Riot Platforms, unveiled the company’s performance in 2023, highlighting it as another significant milestone in its journey as a vertically integrated Bitcoin (BTC) miner. Les touted total revenues of $281 million, production of 6,626 Bitcoin, and earnings of $71 million in power credits.

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2024-02-25 10:03:05 Pantera Capital Predicts 'Strong' Crypto Bull Market Over Next 18-24 Months

American hedge fund Pantera Capital has predicted “a strong bull market” for cryptocurrencies over the next 18-24 months. “With the halving expected to occur in late April 2024, we believe the convergence of these positive things will provide strong tailwinds for the next bull market,” said Pantera founder Dan Morehead.

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2024-02-24 20:21:30 Ethereum (ETH) Price Reaches Highest Weekly Close in a Year

The Ethereum (ETH) price reached its highest weekly close since April 2022 last week and then moved above $3,000 this week. The weekly time frame technical analysis shows the ETH price has increased significantly during the past two weeks, creating a large bullish weekly candlestick. This was especially visible last week. The upward movement of Ethereum caused the first weekly close above a long-term horizontal area, which has intermittently acted as resistance and support since April 2021.

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2024-02-24 12:01:35 Judge Signs Off on Binance's $4.3B Plea Deal With U.S. Prosecutors

A federal judge has signed off on crypto exchange Binance's $4.3 billion plea deal with the U.S. Department of Justice. During a sentencing hearing Friday, Judge Richard Jones of the U.S. District Court for the Western District of Washington approved the top-line fine itself, though he did not yet sign off on any monitor for the exchange. Bloomberg first reported the news earlier Friday.

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2024-02-23 20:06:38 Fidelity’s FBTC ETF hits $4 billion mark amid Bitcoin ETF boom

The landscape of Bitcoin ETFs witnessed significant activity on Feb. 22, according to BitMEX data, with a robust inflow of $251 million, the equivalent of 4,900 BTC. BitMEX data shows that the spotlight was on Fidelity’s FBTC ETF, which reported a substantial inflow of $159 million, pushing its total inflows to the $4 billion mark. BlackRock’s IBIT was not far behind, absorbing $125 million to bring its total net inflow to an impressive $5.7 billion.

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2024-02-23 11:56:22 South Africa advances financial inclusion with crypto and digital payment reforms

South Africa announced plans to weave digital payments and crypto into its financial fabric to boost the economy for marginalized groups. The announcement was made in the country’s 2024 budget and underlines the government’s drive to build a digital economy through active collaborations between public and private sectors to enhance financial innovation. The budget targets enhancing access to digital payments for people in townships and rural areas who predominantly handle cash.

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