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MicroStrategy, under CEO Michael Saylor, has aggressively acquired Bitcoin, positioning itself as the largest corporate holder with 447,470 BTC. Critics warn this strategy, reliant on Bitcoin's volatile value, risks financial distress and shareholder dilution, while proponents argue it enhances long-term value and market position. The company plans to raise $42 billion over three years to fund further Bitcoin purchases and explore new financial initiatives.
Bitget has announced a $5 billion burn of its native token, BGB, removing 800 million tokens from circulation, which constitutes 40% of its total supply. This move has contributed to a 100% price surge in the past week, with BGB trading at $8.10 and a market cap of $11.6 billion. Starting in 2025, Bitget plans to implement quarterly burns using 20% of profits to further enhance the token's utility and deflationary model.
In 2024, the crypto industry saw significant developments, with Pudgy Penguins achieving remarkable growth and expanding into mainstream retail. Leaders like Gracy Chen of Bitget and Brian Armstrong of Coinbase actively shaped regulations and market strategies, while initiatives like SheFi aimed to enhance female representation in Web3. Edward Snowden emphasized the importance of privacy rights amid rising AI and crypto adoption, urging independent voting in the upcoming U.S. presidential elections.
Bitget has partnered with Swiss fintech company Fiat24 to enhance PayFi solutions for cryptocurrencies, including Ethereum and stablecoins like USD Coin. This collaboration aims to provide efficient and secure payment options, bridging traditional and decentralized finance. With services like Bitget Pay and the Bitget Card, users can enjoy low-fee crypto payments and seamless fiat conversions, promoting accessibility and adoption of crypto payments globally.
Bitget has partnered with TRON, acquiring $10 million in TRX to enhance blockchain innovation and ecosystem growth. This collaboration aims to expand TRON's global reach, fostering advancements in decentralized finance (DeFi) and on-chain payment solutions. Bitget's CEO emphasized the partnership's alignment with their goal of engaging influential ecosystems, while TRON's Justin Sun expressed enthusiasm for empowering developers and broadening TRON's audience.
As of December 2024, the TRON blockchain boasts over 279 million user accounts, 9 billion transactions, and $24 billion in total value locked. Bitget has announced a strategic collaboration with TRON, acquiring $10 million in TRX to enhance blockchain accessibility and expand its global payment network. This partnership aims to solidify TRON's market dominance and support ecosystem growth, reflecting its significant user adoption and real-world utility.
[Bloomberg]
PlutoChain ($PLUTO) is emerging as a Layer-2 solution that aims to enhance Bitcoin's role in decentralized finance (DeFi) by addressing high transaction fees and scalability issues. By leveraging Bitcoin's security and integrating with Ethereum's Virtual Machine, it seeks to foster innovative cross-chain applications. The project emphasizes community engagement and has undergone a rigorous security audit to ensure reliability for developers and investors.
PlutoChain is merging the strengths of Bitcoin and Ethereum to create a hybrid Layer 2 architecture, aiming to enhance Bitcoin's utility and appeal. As Ethereum's price predictions soar to $20,000, the project emphasizes cooperation over competition, leveraging both cryptocurrencies to unlock new use cases and scalability. The presale is attracting believers who see potential in this innovative approach to blockchain technology.
Gracy Chen, CEO of Bitget, highlights Bitcoin's growing appeal as a hedge against inflation and its increasing institutional acceptance, evidenced by significant ETF inflows and purchases by firms like MicroStrategy. She emphasizes the potential of projects like the TON blockchain and discusses Bitcoin's evolving role alongside gold, suggesting they may complement rather than replace each other. Chen also notes the surge in retail and institutional participation in crypto, driven by innovative platforms and the potential geopolitical implications of a U.S. national Bitcoin reserve proposal.
Gracy Chen
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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