Bitcoin derivatives data shows pro traders ignored today’s $41K pump

Sometimes all Bitcoin (BTC) needs to pump 10% is a positive remark from someone like Elon Musk. The Tesla CEO has been pointed to as the culprit for the recent downturn after the company’s May 12 announcement explaining that it would no longer accept Bitcoin payments due to environmental concerns. Musk followed up by saying that he was looking into other cryptocurrencies that required 99% less energy consumption.  However, on June 13, the situation reversed as Musk reassured the public that Tesla did not sell any additional Bitcoin. The post…

Following massive BTC purchase announcement, MicroStrategy says it may sell up to $1B in stock

The same day business intelligence firm MicroStrategy announced it would use $488 million from the proceeds of a private offering sale to buy Bitcoin, the company said it may also sell up to $1 billion of its stock for the same reason. In a Monday S-3 filing for the U.S. Securities and Exchange Commission, MicroStrategy said it would be launching an “at the market” securities offering which would allow it to sell up to $1 billion of its Class A Common stock over time. The firm said it intended to…

Algorand (ALGO) price strengthens as institutional investors back the project

Consolidation periods tend to follow strong rallies but they also present a good opportunity to survey the field and evaluate projects that have strong fundamentals. One project that continues to gain traction in terms of price recovery and network adoption is Algorand (ALGO), a pure proof-of-stake (POS) blockchain network that has secured new partnerships and real-world use case applications, as well as support from multi-million-dollar funds in recent weeks. Big funds invest in Algorand-based projects Raising funds is one of the biggest challenges many projects face and in the last month…

Coinbase Pro Will List Polkadot’s DOT Cryptocurrency

Key Takeaways Coinbase is preparing to list Polkadot’s DOT cryptocurrency. The exchange is allowing deposits as of today, Monday, June 14. Trading will begin on Wednesday, June 16. DOT is a top-ten token, making it a major addition to the exchange. Share this article Coinbase has announced that it will list DOT, the native cryptocurrency of Parity Technologies’ Polkadot blockchain. Coinbase Will List DOT Coinbase will allow users to deposit DOT beginning today, Monday, June 14. It will then allow trading at 9AM Pacific Time on Wednesday, June 16, if…

French Football Federation launches official player NFTs with Sorare

With the Euro 2020 championship in progress, blockchain-based fantasy soccer game Sorare has announced the licensing agreement for a national sports association to issue nonfungible tokens of its players. In an announcement today, Sorare said the France Football Federation, or FFF, had launched its own line of player nonfungible tokens, or NFTs, prior to the team’s match against Germany on Tuesday. The French National Team — often called “The Blues” for the color of their shirts — is currently competing in the 2020 Union of European Football Associations European Football…

MicroStrategy Sells $500 Million Notes To Buy Bitcoin

MicroStrategy has successfully sold off $500 million worth of notes (“the notes”) which it announced it was selling on June 8th in a press conference, to buy Bitcoin. The notes were sold to qualified institutional buyers in a private offering in reliance to Rule 144A under the Securities Act of 1933. They were all sold to persons outside of the United States in accordance with Regulation S under the Securities Act. At the time of offering, MicroStrategy estimated that the net proceeds from the sale of the notes and related…

Paul Tudor Jones: Bitcoin Is “100% Certain”

Bitcoin price is back to around $40,000 but whether or not the bull market is over or not isn’t yet certain. What is certain, according to Paul Tudor Jones, is the cryptocurrency itself. Not the asset or its price, but the underlying ironclad cryptographic code. Here’s why the billionaire investor has allocated as much as 5% of his wealth to Bitcoin – an asset he holds in equal amounts next to gold, cash, and other commodities. Paul Tudor Jones: Keep Assets In Commodities, Cash, Gold, And Crypto It was the…

‘Bitcoin is not an asset that is designed to be leveraged,’ says Caitlin Long

All eyes are on Bitcoin (BTC), with the largest cryptocurrency shooting up past $40,000 on Monday. Unsurprisingly, the price increase happened shortly after Tesla CEO Elon Musk tweeted that the electric-car company would potentially accept BTC payments once more miners confirm green energy initiatives.  Yet, while Musk’s tweet may have driven the price of Bitcoin up, some industry experts believe that Bitcoin is not a cryptocurrency that should be leveraged. For example, during an exclusive interview with Cointelegraph at Bitcoin 2021 in Miami, Caitlin Long, founder and CEO of Avanti…

Goldman Sachs’ crypto trading desk expands to Ether

United States investment bank Goldman Sachs is planning to offer Ether (ETH) derivatives products in the coming months, setting the stage for wider adoption of the second-largest cryptocurrency and marking a significant departure from the institution’s critical stance on digital assets in the past.  Mathew McDermott, Goldman’s managing director of digital assets, confirmed Monday that the investment bank is expanding into Ether options and futures. In an interview with Bloomberg News, McDermott said institutional demand for cryptocurrencies will continue to grow despite the recent bout of market volatility: “Institutional adoption will…