2024-02-25 17:28:14
Ethereum surpassed the $3000 level, Donald Trump discussed the future of Bitcoin in the USA, Michael Saylor excluded the sale of BTC from MicroStrategy’s balance, the FixedFloat crypto exchange was hacked for $26 million and other events of the past week.
Bitcoin fell below $52,000
This week, the first cryptocurrency was trading in a range between $51,000 and $53,000. On Saturday, February 24, digital gold fell below the $51,000 level, but quickly recovered.
At the time of writing, Bitcoin is trading at $51,700.
BTC/USDT hourly chart of the Binance exchange. Data: TradingView.
On Tuesday, February 20, the second largest cryptocurrency by capitalization exceeded the $3,000 level. At the time of writing, Ethereum is trading above the psychological mark.
Most of the top 10 digital assets by capitalization ended the week in the red zone. Avalanche (-8%) and Solana (-7.8%) lost the most.
Data: CoinGecko.
The total capitalization of the cryptocurrency market is $2.1 trillion. Bitcoin dominance index – 52.6%.
Trump discussed the future of Bitcoin in the US and named his favorite currency
Former US President and leader of the Republican Party Donald Trump said that the current development of Bitcoin will require the authorities to introduce specialized regulation. According to him, the first cryptocurrency has already “taken on a life of its own.”
“A lot of people take it. I’m seeing more and more people wanting to pay with Bitcoin, which is interesting. Some regulation will likely be required. But I think I might coexist with it,” Trump said.
At the same time, the politician is not yet inclined to accept Bitcoin as a means of payment in the United States. Trump emphasized that he has always liked the dollar.
Michael Saylor excludes the sale of Bitcoin from MicroStrategy’s balance sheet
MicroStrategy founder Michael Saylor said that in the near and long term the company does not intend to sell reserves of the first cryptocurrency.
“There is no reason to sell winners and buy losers,” Saylor said.
In his opinion, spot ETFs have paved the way for institutional capital in the Bitcoin ecosystem. The MicroStrategy founder believes digital gold exchange-traded funds are helping transform the market by bringing in “hundreds of millions of dollars” inflows every day.
Bitcoin, which has a capitalization of just over $1 trillion at the time of writing, competes with and outperforms larger traditional assets like gold, real estate and the S&P 500, Saylor said.
“We believe capital will continue to flow from these asset classes into Bitcoin because it is technically outperforming them,” he stressed.
What to discuss with friends?
CoinGecko has calculated the best time to sell airdrop tokens
23 of the 50 projects (46%) that conducted the largest airdrops recorded a peak in token price within the first two weeks following release. This is stated in the CoinGecko study.
“This suggests that the best time to sell airdrop tokens is within 14 days of receiving them,” the report states.
Crypto exchange FixedFloat hacked for $26 million
The team at the FixedFloat cryptocurrency exchange confirmed the hack, which resulted in losses of at least $26 million in Bitcoin and Ethereum.
“We confirm that there really was a break-in and theft of funds. We are not yet ready to make public comments on this matter, as we are working to eliminate all possible vulnerabilities, improve security, and conduct an investigation,” the message says.
Since February 17, some platform users began reporting suspended transactions and missing assets. FixedFloat initially cited technical problems.
Also on ForkLog:
Robert Kiyosaki told the plan of action in the event of a fall in Bitcoin
The author of the bestselling book “Rich Dad Poor Dad” and entrepreneur Robert Kiyosaki said what he plans to do if the price of the first cryptocurrency falls.
“I am often asked: “What will happen if Bitcoin falls?” My answer is the same for Bitcoin, gold and silver: “I will be happy and buy more as soon as the crash stops,” he wrote.
The investor added that “sale” is his favorite four-letter word.
Earlier, Kiyosaki predicted that Bitcoin prices would rise to $100,000 by June 2024.
What else to read?
This week ForkLog talked regarding how the CeDeFiAi platform works and how viable the ERC-404 standard from the Pandora developers is.
The traditional digest collected the main events of the week in the field of cybersecurity.
The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure and the increasing attention that companies are paying to Bitcoin as an asset class. The most important events of recent weeks are in the ForkLog review.
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