Some thought the bull market surge for Bitcoin was over after the price of the biggest digital asset dipped below $93,000 on Monday. The reason? President Trump's trade tariffs spooking markets—again.
But the increasingly commander in chief's change of heart to pause tariffs against Mexico and soon after Canada led to a rebound in the orange coin's price—and other digital tokens.
The asset then jumped over the magical $100,000 mark before spending most of the week hovering between $96,000 to $98,000. Bitcoin's price now stands at $96,050, CoinGecko shows. That's a dip of nearly 6% over the past seven days.
Since the start of the week, investor enthusiasm for Bitcoin exchange-traded funds has been underwhelming. On Monday, speculators pulled $234 million out of the funds; since then, it's been up an down, but data from Farside Investors shows about $200 million in total inflows across the whole week.
In other news, there might be a new contender in the already crowded race: President Donald Trump's new fintech venture, Truth.fi, announced that it had applied to register trademarks two Bitcoin vehicles: the Truth.Fi Bitcoin Plus ETF and the Truth.Fi Bitcoin Plus SMA.
President Donald Trump’s new fintech venture is hoping to launch its own Bitcoin exchange-traded products.
Truth.fi, the new financial arm of Trump Media and Technology Group—of which the president is the majority shareholder—said Thursday that it had applied to register trademarks for brand names for six new investment vehicles.
Of the six vehicles, two will be Bitcoin funds: the Truth.Fi Bitcoin Plus ETF and the Truth.Fi Bitcoin Plus SMA.
ETFs are funds that let speculators buy shares tracki...
Trump Media and Technology Group did not respond to Decrypt's questions about the future products—including what the "Plus" in the name might entail.
MicroStrategy stops buying—and changes its name
Bitcoin treasury company MicroStrategy rebranded to just Strategy, and the internet had a field day, posting and reposting the same meme about the marketing move.
MicroStrategy has big news—and no, it’s not another Bitcoin buy.
Instead, the software giant is changing its name to Strategy. Just… Strategy.
Company co-founder Michael Saylor trumpeted the news on Wednesday, arguing that by removing the prefix ‘Micro,’ the firm will be able to tap into a new era of success.
“Strategy is one of the most powerful and positive words in the human language,” Saylor said in a statement.
MicroStrategy Hit Pause on Its Bitcoin Buying—For Now
The Bitcoin bull then pr...
The company, which is the largest corporate holder of Bitcoin with a stash valued at over $45 billion as of this writing, said the rebrand was "a natural evolution" as it becomes more BTC-focused.
Its makeover came as the Nasdaq-listed firm released its Q4 2024 earnings, posting a net loss of $670.8 million. Strategy also didn't buy any more Bitcoin this week after 12 consecutive weeks of purchases.
Maybe a $20 billion three-month BTC shopping spree was enough? We'll find out next week...
Sovereign wealth fund
A potential strategic Bitcoin reserve was back in the limelight again after President Donald Trump signed an executive order calling for the creation of an American sovereign wealth fund—a first for the U.S. as a nation.
President Donald Trump signed an executive order Monday calling for the creation of an American sovereign wealth fund—and Bitcoin investors are already seeing gold.
Following Trump’s announcement that he’s now ordered the U.S. government to create a sovereign wealth fund within the next 12 months, Bitcoin advocates leapt with enthusiasm—taking the news as a signal that the United States is taking active steps towards investing directly in the world’s top cryptocurrency.
Most notably, Sen. Cynthi...
Such a fund would see the government take government revenues and reinvest them in assets like stocks, bonds, and real estate.
But despite high-profile Bitcoiners—including Sen. Cynthia Lummis (R-WY)—being quick to share hopium that this could mean a stockpile of orange coins is coming, there was no mention of the asset and the idea is still vague.
Does Kraken know who Satoshi is?
More speculation on the identity of Bitcoin's creator—or creators—entered the cryptosphere this week after Coinbase's head of product, Conor Grogan, posted on X that he had made a discovery: A number of on-chain transactions linked to a Satoshi wallet and Cavirtex, a defunct Canadian Bitcoin exchange.
-There are 24 documented outbound sends from these addresses -The most popular destination address was to 1PYYj -Incredibly, this address received BTC from Cavirtex, a Canadian exchange. I believe this is the first documented onchain between a Satoshi linked wallet and a CEX pic.twitter.com/XNwwhQ3pSz
The short of it is this: Satoshi Nakamoto received Bitcoin from Cavirtex back in 2014, and potentially had to hand over his personal details to do so. The exchange was enforcing know-your-customer protocol back then, after all.
Cavirtex closed and top American crypto exchange Kraken bought Cavirtex back in 2016—so it's likely it would have received any revealing details.
The quest to discover the true identity of Bitcoin’s pseudonymous creator Satoshi Nakamoto has stalled for years, with sleuths and documentarians alike unable to produce a definitive answer to the $2 trillion mystery.
Now, a prominent crypto industry executive claims to have unearthed previously unrevealed information about Satoshi Nakamoto’s on-chain activity—that may have left a trail to the shadowy coder’s true name.
Conor Grogan, head of product business operations at Coinbase, said this w...
Still, the exchange didn't seem keen on entertaining the rumors, and wouldn't respond to Decrypt or Grogan—simply tweeting a cheeky, "We are all Satoshi."
Nobel laureate doesn't like Bitcoin
Finally, haters gonna hate: Nobel-winning economist Eugene F. Fama said in an interview with the "Capitalisn't" podcast that Bitcoin is going to zero.
A Nobel-winning economist has predicted that Bitcoin will go to zero within 10 years.
Eugene F. Fama, who is often dubbed as "The Father of Modern Finance," told the Capitalisn't podcast that this digital asset's rise has "a predictable ending."
He argued that it would prove "unsustainable" to have a whole financial system built using blockchains because this would require too much computing power—and "all we know about monetary theory" suggests cryptocurrencies shouldn't survive.
An Advisor to...
Pointless FUD, or does he have a point? Fama argued that Bitcoin would ultimately be "unsustainable" because it requires too much computing power and "doesn't have a use."
Shares of stock brokerage platform eToro closed 29% higher on Wednesday following the firm’s Nasdaq debut, settling around $67, according to the exchange’s website.
The firm said in a press release that it sold 6 million shares at $52 each, raising $310 million through its initial public offering. Based on current prices, the firm is valued at roughly $5.4 billion, according to Nasdaq.
EToro’s debut reflects the more favorable environment for crypto-related firms. The Israel-based company was a...
Bitcoin's price is strangely low right now and could surge to $500,000 or even as high as $1 million per coin this four-year cycle, Adam Back said.
In an interview with Decrypt, the famed computer scientist and Blocksteam CEO said that given all the institutional money flowing into the space, the price of the biggest and oldest cryptocurrency should be higher.
Bitcoin was recently trading for $103,300 per coin—unmoved in the past day but up more than 7% over the past week, according to crypto...
Ethereum's dramatic rise the past week has stemmed from a growing embrace of digital assets' usefulness as more than stores of value and increased institutional and retail interest adoption of blockchain and stablecoin payments, research analysts at Bernstein wrote in a note Wednesday.
The analysts noted the growing adoption of stablecoins for cross-border payments, the potential of brokerages such as Robinhood to offer tokenized equities on their own blockchains—constructed on Ethereum—and a c...
