Bitcoin News

💰 Bitcoin miner Marathon's market cap rises $800 million as stock jumps 18% On the heels of S&P Global announcing Marathon Digital would be added to a small-cap stock index, the bitcoin miner's shares rose by 18% on Monday, boosting the company's market capitalization by about $800 million, according to Ycharts data. Marath0n Digital's shares closed the day's trading at $20.67, according to Yahoo Finance. The company's market capitalization rose to $5.5 billion from Friday's market capitalization of $4.7 billion, according to Ycharts data. Source https://t.me/Bitcoin_NewsTg

💰 Bernstein analysts double down on $150,000 bitcoin price prediction Though the price of bitcoin has pulled back modestly in recent weeks, analysts at Bernstein believe the leading cryptocurrency "is far from done." They have reiterated their prediction that bitcoin will reach $150,000 this cycle, expected by the end of 2025. "We feel even better about that call and metrics indicate a healthy cycle, still in its early stages," Gautam Chhugani and Mahika Sapra wrote in a note, adding: "Risk-reward here remains attractive.". Source https://t.me/Bitcoin_NewsTg

💰 Jack Dorsey's Block Will Reinvest 10% of Bitcoin Profits Into BTC Block, formerly known as Square, Inc, detailed a months-long plan during its earnings call Thursday to buy Bitcoin with 10% of its gross profits from Bitcoin-related products and services. “In April, Block implemented a Bitcoin dollar cost average (DCA) purchase program that will run through 2024,” the company said in a blog post. “Under the program, Block will be investing 10% of its gross profit from Bitcoin products into Bitcoin purchases.”. Source https://t.me/Bitcoin_NewsTg

💰 Former Bitmex Chief Expects Bitcoin to Trade Within $60K-$70K Range Until August Former Bitmex CEO Arthur Hayes predicts bitcoin will range-bound trade between $60,000 and $70,000 until August. “The slow addition of billions of dollars of liquidity each month will dampen negative price movement from here on out,” Hayes said, adding that he expects “prices to bottom, chop, and begin a slow grind higher.” Source https://t.me/Bitcoin_NewsTg

🥇 Grayscale's GBTC spot bitcoin ETF sees $63 million of inflows, ending 78-day outflow streak Grayscale’s GBTC spot bitcoin exchange-traded fund witnessed its first-ever (since it was converted) daily net inflows on Friday, ending a 78-day run of consecutive outflows. GBTC’s cumulative outflows since the U.S. spot bitcoin ETFs began trading on Jan. 11 totaled more than $17.5 billion by May 2, but the higher-fee fund suddenly generated $63 million worth of inflows on Friday, according to data from Farside Investors and CoinGlass. Source https://t.me/Bitcoin_NewsTg

💰 Bitcoin Miner Riot Platforms Records Modest Revenue Gain Despite 36% Decrease in Mined BTC Riot Platforms Inc., an integrated bitcoin mining company, reported revenues exceeding $79.3 million in the first quarter of 2024. The revenue increase was slight, rising from $73.2 million to $79.3 million. Remarkably, this was achieved even as Riot Platforms experienced a 36% decrease in the number of bitcoins mined, down to 1,364. Source https://t.me/Bitcoin_NewsTg

Tectum team showcases instant #Bitcoin payments using SoftNote. Mass Adoption is already here! Time to buy $TET Tg Group is here!

🇰🇪 Kenya's president discusses the "transformative" economic potential of collaborating with Marathon to bring 💰 Bitcoin mining to the nation https://t.me/Bitcoin_NewsTg

💰 Record Withdrawal From US Bitcoin ETFs Marks Largest Single-Day Outflow Data sourced from coinglass.com reveals that these funds saw a withdrawal of $563.7 million on Wednesday, with Fidelity’s FBTC experiencing the highest outflow, totaling over $191 million. Grayscale’s Bitcoin Trust (GBTC) followed closely with withdrawals exceeding $167 million, while Blackrock’s IBIT reported its first negative outflow, nearing close to $37 million. Source https://t.me/Bitcoin_NewsTg

🥇 VanEck says about $175 billion in bitcoin held by ETFs, nations and companies VanEck said in a new report that a total of roughly $175 billion in bitcoin is currently being held across the various ETFs, nations and public and private companies that have acquired the popular cryptocurrency. "Bitcoin interest among institutional investors has also increased. Hedge funds, asset management firms, and endowments are increasingly recognizing bitcoin’s potential as a store of value," VanEck said in the report. Source https://t.me/Bitcoin_NewsTg