BREAKING: FTX begins repaying $16 BILLION to creditors on January 3, 2025.
Expect major liquidity injections. Bullish for Bitcoin ? Source: Crypto Rover @rovercrc
DOGE lead Vivek Ramaswamy’s fund, Strive files for “Bitcoin Bond” ETF 🤯
👉 Strive Asset Management is launching a new ETF that will provide exposure to Bitcoin through convertible securities, primarily focusing on MicroStrategy’s holdings. 👉The Strive Bitcoin Bond ETF will invest at least 80% of its assets in “Bitcoin Bonds” and related derivative instruments, including swaps and options. 👉The actively managed fund will hold both direct positions in Bitcoin-linked convertible securities and derivatives, with allocation decisions based on cost and return potential. 👉The fund will maintain cash positions in short-term US Treasury securities and may invest in other Bitcoin-focused investment vehicles. 👉As a non-diversified fund, it can concentrate holdings in single issuers like MicroStrategy and allocate more than 25% of assets to software and technology sector companies. 👉Operating under a “manager of managers” structure, the ETF will be advised by Empowered Funds, LLC, which can appoint and replace sub-advisers without shareholder approval. 👉The fund’s shares will trade on the New York Stock Exchange and be held through the Depository Trust Company. Source: Vivek⚡️on X, Cryptobriefing
IRS Says Crypto Staking is Taxable
Staking a cryptocurrency should induce a tax liability as soon as it is done, the US government says. The IRS rebuffed a suit brought by Joshua Jarrett, a cryptocurrency investor who has sued in the US District Court for the Middle District of Tennessee source : bloomberg
Bitcoin is still tracking global M2 with a ~70-day lag.
Two scenarios: dislocate from global M2 thanks to BTC-native buy side, or continue following it into a deep mid-cycle correction. Source: Joe Consorti, Bloomberg
Bitcoin Policy Institute drafts Executive Order for Strategic
Bitcoin Reserve for Trump to sign on Day 1 🚀
Bitcoin’s current token distribution:
57% Individuals 17.6% Lost 6.6% Not mined yet 5.2% Satoshi Wallet 3.9% ETFs 3.6% Companies 3.4% Miners 2.7% Governments Source: Cory Bates on X
🚨 ALERT: $2.14 BILLION worth of Bitcoin shorts face liquidation if $BTC reaches $111,111.
Source: cointelegraph.com
JUST IN: MICHAEL SAYLOR AND MICROSTRATEGY $MSTR BOUGHT 15,350 MORE BITCOIN $BTC
MicroStrategy spent ~$1.5 billion to buy the 15,350 at an average price of ~$100,386 per Bitcoin, boosting total holdings to 439,000. $MSTR 📈 +3.50% in pre-market. Source: Michael Saylor Tracker
