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The first UK pension fund is allocating 3% of its total assets – which are valued at around £50m (€59.5m) – following the advice of Cartwright, the pension specialist for defined benefit and hybrid schemes.
The first of its kind in the UK, the allocation took place in October after a rigorous training and due diligence process, Cartwright stated, without disclosing the name of the pension fund.
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Mt. Gox transferred over 32,000 BTC, worth $2.2 billion at current prices, to unmarked wallet addresses data from Arkham shows. A majority of that stash, or nearly 30,400 BTC, was sent to “1FG2C…Rveoy” and 2,000 BTC was moved to “15gNR…a8Aok” after first being sent to a Mt. Gox cold wallet.
Such wallet transfers are usually a consolidation of holdings to new addresses before they are sent to crypto exchanges, where the bitcoin is sold on the open market.
Mt. Gox’s repayments are largely considered to add selling pressure to bitcoin (BTC) markets as early investors will receive assets at a much higher value than their entries before 2013, making them inclined to sell at least a part of holding, traders said.
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Bitwise CIO Matt Hougan said:...
“To be specific: I expect Bitcoin to approach $100k this year and $200k in 2025,” he said. “Other crypto assets (which previously faced more regulatory risk) may do even better. I’ve never been more bullish than I am right now.”
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Bitcoin (BTC) - ... It's market cap is about 10% of gold's market cap. It's likely going to close that gap.
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A Republican sweep would allow the new government to push through positive policies for the digital assets sector, which could lead to total crypto market cap swelling to $10 trillion by the end of 2026, investment bank Standard Chartered (STAN) said in a research report on Friday.
Standard Chartered said it sees a number of tailwinds for crypto markets early in the new administration including regulatory changes and a shuffle of positions at the Securities and Exchange Commission (SEC) that could lead to a more benign stance on digital assets.
The bank said these positive developments could see total crypto market cap grow fourfold from $2.5 trillion currently to $10 trillion by the end of 2026.
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"Spot bitcoin ETF inflows have massively outpaced the growth in CME open interest last week. True directional spot buying has returned. ...
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Glassnode data shows that bitcoin on exchanges has hit a year-to-date low at 2.95 million BTC. Since the Nov. 5 election, there's been a reduction of some 40,000 BTC, and demand appears to come from multiple exchanges such as Coinbase, Binance, and Bitfinex. Lower balances on exchanges indicate that bitcoin owners are looking to buy more bitcoin.
Michael Saylor's MicroStrategy (MSTR), the largest corporate holder of bitcoin, has bought another 27,200 bitcoin (BTC) for almost $2 billion.
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I remember blasting Taylor for using his companies money to invest in BTC. Taking real profits and putting it into the next tulip fad.Where the Demand Comes From as Bitcoin Breaks Through $82K: Van Straten
As bitcoin hits new highs, it's helpful to examine the data to understand where the demand is coming from.www.coindesk.com
MicroStrategy Buys Another 27,200 BTC for $2B; Bitcoin Profits Sit at $11B
The company's bitcoin yield thus far this quarter is 7.4% and over 26% year-to-date.www.coindesk.com
... This rainbow chart is a popular tool that helps visualize bitcoin’s long-term price trends and market sentiment.
The chart itself is a colorful look at bitcoin’s historical price swings, plotted on a logarithmic scale. Originally crafted in 2014 by a Reddit user named Azop, it’s since been updated several times. Currently, blockchaincenter.net features two versions of the chart, which, at present, show BTC in the green “accumulate” zone. In past peaks—like the bull runs of 2013 and 2017—bitcoin surged into the “maximum bubble territory” range, represented in deep red.
But during the 2021 bitcoin rally, prices didn’t reach those red extremes, only making it as high as the “FOMO intensifies” level in dark orange. Now, there’s a chance bitcoin may never hit the red zone again. However, if it rises to the orange level, prices could reach six figures, significantly higher than today. If bitcoin climbs into the “Is this a bubble?” light orange zone by mid-February 2025, the price would surpass $200,000 per coin.
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Stock and crypto trading platform Robinhood (HOOD) has added sizably to the number of cryptocurrencies available to trade for U.S. customers just one week after elections appeared to usher in a far friendlier regulatory environment for the industry.
With the introduction of Solana (SOL), Pepe (PEPE), Cardano (ADA) and XRP (XRP), Robinhood will now offer trading in 19 cryptocurrencies for its American clientele, the company said in a blog post Wednesday morning.
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I suspect this is just the beginning of wider availability of crypto on more traditional brokerage platforms. @searcher - have you heard anything from Fidelity on this subject? Are they planning to add more crypto options to their portal?
The 2 leading contenders for US Treasury Secretary are openly pro-Bitcoin.
1. Scott Bessent is "is very pro-crypto, particularly pro-Bitcoin"
2. Howard Lutnick, who is a Bitcoin mega-bull
Polymarket rates it 92.2% likely that one of these 2 will get the nod.
Here's what each have said about Bitcoin recently
“I think everything is on the table with Bitcoin. One of the most exciting things about Bitcoin is that it brings in young people and those who have not participated in markets before. Cultivating a market culture in the US, where people believe in a system that works for them, is the centerpiece of capitalism.”
-- Scott Bessent (source, @EleanorTerrett)
"I believe in a future where Bitcoin trades freely around the world. And we are going to do everything in our power to make it so that Bitcoin does just that – without exception and without limitation."
-- Howard Lutnick, Bitcoin Conference, 2024, Nashville
Polymarket ranks Bessent as 76% likely, Lutnick at 16.2% likely to get the job but today his odds are rising steeper than a Nov 11 Bitcoin price.
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