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Strive Asset Management is launching a Bitcoin Bond ETF that will primarily invest in MicroStrategy's convertible securities and derivatives, aiming for at least 80% of its assets in these "Bitcoin Bonds." The actively managed fund will also hold cash in short-term US Treasury securities and may invest in other Bitcoin-focused vehicles. Operating under a "manager of managers" structure, the ETF will trade on the New York Stock Exchange and plans to distribute net investment income quarterly.
Ethereum's price fell to $3,337, following a broader market decline, yet derivatives markets remain neutral to bullish, indicating potential for a rebound towards $4,000. Despite a 9.5% weekly drop, on-chain activity and stable total value locked suggest resilience among ETH investors. Global economic concerns and a strong US dollar are influencing market sentiment, with traders increasingly cautious amid recession risks.
KULR Technology Group has made a significant entry into the Bitcoin market with a $21 million purchase of 217.18 BTC, averaging $96,556 per Bitcoin, as part of its new treasury strategy. Following this announcement, the company's stock surged by 30%, reaching $4.55. This move aligns KULR with a growing trend of companies integrating Bitcoin into their balance sheets, similar to strategies employed by firms like MicroStrategy.
Trump's call for all remaining Bitcoin to be mined in the US faces significant hurdles, as experts highlight global competition and Bitcoin's decentralized nature. Currently, US miners account for less than 50% of Bitcoin's computational power, with countries like China and Russia leading due to lower energy costs and regulatory advantages. As 95% of Bitcoin's total supply has already been mined, controlling future production remains a complex challenge.
Betting markets indicate a bullish outlook for cryptocurrencies in 2025, with traders predicting Bitcoin could reach $125,000 and Ether $5,000. Polymarket and Kalshi show strong odds for the approval of various crypto ETFs and a potential national Bitcoin reserve under President Trump. In contrast, conventional futures markets project more modest gains, with Bitcoin expected to hit around $98,000 by March.
KULR Technology Group has launched its Bitcoin treasury with a $21 million purchase of 217.18 BTC at an average price of $96,556.53 per coin. Inspired by MicroStrategy's approach, KULR plans to allocate up to 90% of its surplus cash into Bitcoin, with positive shareholder support for this strategy. Other companies, including Matador Technologies and Quantum BioPharma, have also recently added Bitcoin to their balance sheets as part of long-term capital preservation strategies.
Chainlink (LINK) is experiencing significant whale activity, with over $44 million accumulated during a recent price dip. In the past five days, 1.37 million LINK, valued at $34.1 million, was withdrawn from Binance into self-custody wallets, indicating large investors are preparing for market shifts. Analysts note a critical support level at $22, while predictions suggest LINK could rise to $35.56 by January 2025.
Teachers Retirement System of The State of Kentucky increased its NIKE shares to 265,449, valued at $23.47 million, while Toronto Dominion Bank raised its stake by 59.9% to 1,055,597 shares worth $93.32 million. Institutional investors hold 64.25% of NIKE's stock, which has a "Moderate Buy" rating with an average target price of $89.58. Recently, NIKE reported earnings of $0.78 per share, exceeding estimates, despite a 7.7% year-over-year revenue decline.
Meme coins are experiencing a resurgence, driven by community sentiment and tribal loyalty rather than traditional utility. As younger generations seek connection in a disillusioned world, these coins foster decentralized communities, emphasizing identity as the new utility. The success of projects like Dogecoin and Popcat illustrates that community engagement can elevate even the simplest concepts in the crypto space.
XRP, HBAR, and SOL have surged in value following Trump's election victory and growing optimism around crypto ETFs, with XRP climbing 54.65% to $2.31 and HBAR soaring 114.60% to $0.316. Analysts predict that regulatory clarity in 2024 could enhance adoption, particularly for Hedera, which is classified as a non-security by the SEC. As the market anticipates ETF approvals, these altcoins are positioned for potential gains, while Solana's network activity suggests it may also see upward movement.
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