[ad_1]
Bitcoin is starting the year strong, Michael Saylor is selling stocks to buy more Bitcoin and a blockchain is about to buy a memecoin?! These stories and more, this week in crypto.
Good start for Bitcoin in 2024
Bitcoin started the new year on an impressive note, amid optimism about expected ETF approvals, higher risk appetite due to rate cuts and a fast-approaching halving. BTC hit a 21-month high just below $46,000 on Tuesday, before pulling back a bit. Bitcoin closed the year with a 156% gain, its strongest annual performance since 2020.
Countdown to US Spot Bitcoin ETFs
US investment companies, stock exchanges and SECs applications finalized for spot Bitcoin ETFs, with many expecting them to gain regulatory approval. SEC commissioners are expected to vote on the packages this week, with Jan. 10 being the deadline for approval of ARK Invest and 21Shares products. However, sources stressed the confidentiality of the ongoing talks.
Goldman Sachs bets on Bitcoin ETFs
After JP Morgan and Jane Street, another leading investment bank, Goldman Sachs is in talks to become an authorized participant for spot bitcoin ETFs, for institutions like BlackRock and Grayscale. Authorized participants have the right to create and redeem shares of a spot Bitcoin ETF, a product for which 14 asset managers are awaiting SEC approval.
Vitalik Buterin’s Ethereum vision
Vitalik Buterin, co-founder of Ethereum revealed Ethereum’s roadmap for 2024, highlighting six essential aspects. The merger, which integrates the proof of stake consensus, remains the priority due to its simplicity and durability. Additionally, Buterin wants to bring back the original idea of ​​the cypherpunk revolution for blockchain with more privacy solutions.
Bankrupt Lender Turns To Bitcoin Mining
A US Bankruptcy Judge Gives Green Light to Celsius Network’s Decision in Bitcoin mining, allowing a change from their previously approved bankruptcy strategy. Celsius, one of several cryptocurrency lenders that filed for bankruptcy in 2022, had to change its plans after the SEC rejected the initial proposal. The judge ruled that the bankruptcy plan approved in November was flexible enough to allow the transition to Bitcoin mining as a backup strategy.
Saylor sells MicroSrtategy shares for Bitcoin
MicroStrategy co-founder Michael Saylor intends to sell for $216 million in stock options in the company and use the proceeds to buy more Bitcoin for his personal holdings. Saylor plans to exercise and sell 5,000 shares per day from January 2 to April 25, aiming to meet his personal commitments and increase his Bitcoin holdings before his stock options expire.
Avalanche Foundation Considers Memecoins
The Avalanche Foundation considering buying memecoins as part of its “Culture Catalyst” initiative. Inspired by recent token surges on Solana, like BONK and Dogwifhat, the idea is to support internet culture-inspiring coins that go beyond utility assets. This move aligns with the Foundation’s commitment to diversifying its portfolio to encompass NFTs, RWAs, and various crypto assets; foster broader engagement in the Avalanche ecosystem.
Bitcoin’s 15th anniversary
15 years ago, Satoshi Nakamoto mined Bitcoin genesis block, marking the beginning of the era of cryptocurrencies. Celebrated every year on January 3, this milestone reflects the profound impact of Bitcoin on finance. After 15 years, BTC’s market cap stands at nearly $900 billion and has given rise to a $1.8 trillion crypto ecosystem, reshaping digital assets and global financial markets.
This is what happened this week in crypto, see you next week.
[ad_2]
Source by [author_name]