SkyBridge Capital, Anthony Scaramucci’s multi-billion-dollar hedge fund, filed an application with the SEC to launch a Bitcoin (BTC) fund. The minimum investment is said to be $50,000.
Business intelligence company MicroStrategy bought 29,646 Bitcoin (BTC) at $21,925 a piece. The company is now in possession of 70,470 BTC, making it the fifth largest hodler of BTC. Number six is the US government, which reportedly owns 69,420 BTC.
The SEC is going after Ripple. They decided to sue Ripple for selling unlicensed securities in the form of XRP tokens. XRP has been criticized for being much more centralized than other cryptocurrencies.
Crypto mining company Riot Blockchain bought 15,000 Antminers from Chinese mining giant Bitmain. The $35 million deal is expected to increase its total Bitcoin (BTC) mining hash rate by 65%.
A survey revealed that 20% of adult Australians own crypto, double the amount from last year. Interestingly, participants below the age of 45 expected Bitcoin to be below $30,000 in 2030, while participants above 45 expected BTC to surpass $30,000 by 2030.
The SEC offered relief to crypto broker dealers. Now, broker dealers who abide by existing rules while holding security tokens in custody will not face enforcement action for the next five years. This new legislation comes after industry complaints about the handling of security token trading.
On Thursday …
The Bitcoin Association of Hong Kong urged regulators to reconsider laws that will prevent citizens from using Bitcoin (BTC) ATMs. In November, the Hong Kong government decided it would ban retail cryptocurrency trading in an effort to combat money laundering.
Elad Roisman was appointed acting chairman of the SEC. Roisman is regarded as an ally to the crypto community for his stance on digital asset regulation. He is expected to help digital assets gain more regulatory clarity and pave the way for a Bitcoin ETF.
Francisco Suarez, mayor of Miami, expressed Bitcoin (BTC) optimism. He called BTC a stable investment during an unstable year. More importantly, he said that his administration is exploring the idea of Miami becoming the first crypto-centric government in the country.
Crypto donations poured into The Barstool Fund. Launched last week by Barstool Media’s Dave Portnoy, The Barstool Fund aims to help small businesses impacted by the Covid-19 pandemic. On December 24, they announced they would begin accepting cryptocurrency donations. On Christmas morning, over $750,000 worth of crypto was added to the fund.
Yesterday's trading was mixed. Early in the session, even with reports of economic slowdown in the US, traders were still buying, maybe thinking it solidified the accommodative Fed policies.
Yesterday’s narrative was somewhat bittersweet. On the one hand, Fed policies remain hyper accommodating, which is positive. On the other hand, the accommodating stance is based on lingering concerns about the economic recovery in the US (and also globally).
Bitcoin has fallen back below $40,000 today, as the denial from Amazon of the impending acceptance of Bitcoin as a payment method came through. Prices returned to our support level of $36,500 before rallying once more, a sign that this move may be supported by more than just click-bait headlines.