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Cryptocurrency investment products achieved record inflows of $3.85 billion during the week of Dec. 2–6, coinciding with Bitcoin surpassing $100,000 for the first time, reaching an all-time high of $104,000. Bitcoin led the inflows with $2.5 billion, while Ethereum products saw their largest weekly inflows on record at $1.2 billion as Ether surged past $4,000. In contrast, Solana experienced $14 million in outflows, marking its second consecutive week of declines.
Bitcoin mining is evolving with advanced ASIC machines, significantly increasing profitability as prices rise. The top miners, including Bitmain's Antminer S21 XP Hydro and MicroBT's Whatsminer M63S, showcase impressive hashpower and energy efficiency, with daily profits ranging from $16.69 to $26.75 at $0.07 per kWh. Looking ahead, new models set to launch in 2025 promise even greater performance, emphasizing the industry's relentless pursuit of efficiency and profitability.
Bitcoin surged past $100,000 for the first time, reaching $102,874.00, following President-elect Donald Trump's announcement of Paul Atkins as SEC chair, signaling a potential shift towards a more favorable regulatory environment for cryptocurrencies. Federal Reserve chair Jerome Powell likened bitcoin to digital gold, while institutional interest grows with the launch of spot bitcoin ETFs by major firms. Optimism surrounds the new administration's pro-crypto initiatives, suggesting a significant shift towards mainstream acceptance of digital assets.
Bitcoin exchange-traded funds in the US now hold over 1 million tokens, representing about 5% of the total supply, comparable to the holdings of Satoshi Nakamoto. A potential new buyer may emerge as a Senate ally of Donald Trump proposes a bill for the Federal Reserve to sell gold to acquire 1 million Bitcoin for a government stockpile. Meanwhile, MicroStrategy, led by Michael Saylor, holds approximately $38 billion in Bitcoin and continues to raise capital for further purchases.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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