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The first UK pension fund is allocating 3% of its total assets – which are valued at around £50m (€59.5m) – following the advice of Cartwright, the pension specialist for defined benefit and hybrid schemes.

The first of its kind in the UK, the allocation took place in October after a rigorous training and due diligence process, Cartwright stated, without disclosing the name of the pension fund.
...
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www.ipe.com

First UK pension fund allocates to bitcoin

The first UK pension fund is allocating 3% of its total assets - which are valued at around £50m (€59.5m) - following the advice of Cartwright, the pension specialist for defined benefit and hybrid schemes. The first of its kind in the UK, the allocation took place in October after ...
www.ipe.com www.ipe.com
 
...
Mt. Gox transferred over 32,000 BTC, worth $2.2 billion at current prices, to unmarked wallet addresses data from Arkham shows. A majority of that stash, or nearly 30,400 BTC, was sent to “1FG2C…Rveoy” and 2,000 BTC was moved to “15gNR…a8Aok” after first being sent to a Mt. Gox cold wallet.

Such wallet transfers are usually a consolidation of holdings to new addresses before they are sent to crypto exchanges, where the bitcoin is sold on the open market.

Mt. Gox’s repayments are largely considered to add selling pressure to bitcoin (BTC) markets as early investors will receive assets at a much higher value than their entries before 2013, making them inclined to sell at least a part of holding, traders said.
...
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www.coindesk.com

BTC Drops Under $68K as Mt.Gox Sends $2.2B Bitcoin to Two Wallets

A majority of that stash, or nearly 30,400 BTC, was sent to “1FG2C…Rveoy” and 2,000 BTC was moved to “15gNR…a8Aok” after first being sent to a Mt. Gox cold wallet.
www.coindesk.com www.coindesk.com
 
This is just for the humor (not market news):

 
Crypto markets are all green right now. Looks like crypto bros are expecting a Trump win...
 
I am buying BTC in upper $50s and not chasing here.
 
Trump's Triumph Is Also Crypto's: Gensler, Regulatory Clouds Likely to Vanish

Former U.S. President Donald Trump will once again take the White House, needing only three more electoral votes from a state leaning heavily red, defeating Vice President Kamala Harris and auguring a more permissive regulatory environment for crypto in the world's largest economy.

Crypto has not been a major issue through this election cycle, though Trump, the Republican candidate for president for a third election in a row, did a great deal of outreach to the crypto industry, by speaking at a bitcoin conference, handing out burgers at a crypto bar and otherwise making statements appealing to the industry, including promising to fire Securities and Exchange Commission Chair Gary Gensler. Harris, the Democratic candidate, has on a handful of occasions shared some general comments about supporting the industry but did not delve deeply into her views.

More:

www.coindesk.com

Trump's Triumph Is Also Crypto's: Gensler, Regulatory Clouds Likely to Vanish

Buoyed by donations and votes from a digital asset industry he aggressively courted, Trump won a second term to the White House in his third bid for the U.S.'s highest office.
www.coindesk.com www.coindesk.com
 
release-the-kraken-clash-of-titans.gif
 
I may have missed the best opportunity to buy MSTU and MSTX ETFs.
 
Crypto is a rollercoaster. I'm sure there will be more opportunities for trading high volatility.
 


Not sure if serious, but if they actually do this, it will be a significant policy change for Russia and possibly open doors among other nations.
 
Crystal balls powered by crypto can be downright insane, but I'm seeing a lot of calls like this one post election:
Bitwise CIO Matt Hougan said:
...
“To be specific: I expect Bitcoin to approach $100k this year and $200k in 2025,” he said. “Other crypto assets (which previously faced more regulatory risk) may do even better. I’ve never been more bullish than I am right now.”
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More:
www.kitco.com

‘Crypto won the election,’ Bitcoin will hit $200k in 2025 – Bitwise CIO Matt Hougan

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
www.kitco.com www.kitco.com

Barring a global economic implosion, Crypto is going to explode next year.
 

Bitcoin gains 10% in a week after Trump victory and rate cuts: CNBC Crypto World​

Nov 8, 2024 #CNBC #cnbctv

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Johann Kerbrat of Robinhood Crypto discusses crypto trading activity on the platform after the election, and his expectations for regulation under a Trump administration.


11:20

Chapters
00:00 - CNBC Crypto World, Nov 8, 2024
0:25 - Bitcoin flat
1:18 - The headlines
2:59 - Johann Kerbrat of Robinhood Crypto
 
Bitcoin seems to be consolidating a bit under the 77k line, but many alts (Ethereum, Solana, Avalanche, etc.) are still pushing higher. Once Trump is inaugurated and throws the wrecking ball at the war on crypto, serious money is going to flow into the sector. If Sen. Lummis gets her Bitcoin reserve plan passed, bitcoin could go 10x and reach a market cap on par with the global gold market as other nations follow along. I really don't see how anyone can be aware of all the news today and not be thinking about ensuring their portfolio has some bitcoin/crypto exposure - it's going to be *the* growth industry of the next decade - more so than AI.
 
Woke up, checked to see how crypto is doing. Everything is green. Everything. Shit is getting crazy.
 
Alt coins have been outperforming BTC over the last week, but they still have some work to do to get back to all time highs. BTC is likely to keep running and I suspect that as the war on crypto falls apart (Gensler fired/retired, SEC lawsuits get dropped, operation chokepoint 2.0 ends, etc.), the industry is going to really take off. I think right now, even though everything seems expensive relative to past history, we really are at the fish in a barrel stage of a nascent industry. You are likely going to make gains with just about any solid crypto project right now.
 
I own positions with a number of coins and I keep tabs on them pretty much daily. This is my current thinking on them (FWIW - DYODD):
  • Bitcoin (BTC) - First mover advantage has reached sovereign state actor level. It's market cap is about 10% of gold's market cap. It's likely going to close that gap.
  • Ethereum (ETH) - Second mover is first mover in the Proof of Stake (POS) evolution powering smart contracts, DeFi and other developments. ETFs helped secure 400lb gorilla status, but the network has limitations that will be difficult to fix natively (which is why there are a plethora of L2 networks piggybacking on Ethereum). I suspect in time, Ethereum is going to be surpassed by a technically superior network. That's probably a few years away though and Ethereum is likely going to do well until then.
  • Solana (SOL) - First major challenger to Ethereum's POS crown. Technically superior to ETH, but it also has some issues as evidenced by a few periods of network failures. Rumors of SOL ETFs are in the works and Solana should do very well for many years.
  • Ripple (XRP) - Ripple is hard to pin down. It's been tainted/marred by years of legal battles with the SEC. Once that legal war is over, XRP could see a big boost. Ripple used to the best in class technology around, but it's been surpassed with modern developments and it's current tokenomics are not very attractive (IMO). I'm not a big fan of this one, but it could surprise.
  • Cardano (ADA) - Recently transitioned the governance structure for the network to a pure decentralized, democratic system. It has a very loyal base of developers and supporters. Has outperformed most of the alt coins over the last week though it still has a long ways to go to reclaim it's ATH.
  • Avalanche (AVAX) - Seems to have a good bit of development ongoing. It also seems to be trying to carve out market dominance in a few niche areas (RWA tokenization, gaming)
  • SUI (SUI) - A strong challenger for Solana (SOL) and Ethereum (ETH), SUI is technically superior to both of them (faster, cheaper, more efficient, scales better). SUI has been outperforming most alts and is currently trading just under it's ATH.
  • Polkadot (DOT) - I'm not sure what's happening with Polkadot these days. I like the network and occasionally hear some news about developments, but I'm wondering if they are losing steam compared to competitors.
  • Cosmos (ATOM) - Same comments as Polkadot
  • Theta/TFUEL - This one seems undervalued right now IMO. They have so much happening with technical developments, customer growth and such. These tokens are not listed on Coinbase and I think that is really limiting their upside at the moment. This is a crypto that is building real world value though.
  • MultiversX (EGLD) - The most technically superior network that I'm aware of at the moment. It's my sleeper pick to eventually end up challenging SUI, SOL and ETH for the top dog status as the foundation layer for DeFi, smart contracts, etc.
  • Peaq (PEAQ) - This one goes live (ie. public trading) in two days. Peaq has been in development for some time and already has 50+ DePIN industries utilizing their network. I think PEAQ is well positioned to be the foundation layer top dog for DePIN industries. I think DePIN industries are going to be the major force for disruptive innovation over the next decade. I'm looking forward to acquiring some Peaq when it launches.
 
I was looking at ETF miners and servicers:

BITB
BITO
CLSK
CORZ
FDIG
MSTX
MSTU
RIOT
WULF
 
pmbug said:
Bitcoin (BTC) - ... It's market cap is about 10% of gold's market cap. It's likely going to close that gap.
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A Republican sweep would allow the new government to push through positive policies for the digital assets sector, which could lead to total crypto market cap swelling to $10 trillion by the end of 2026, investment bank Standard Chartered (STAN) said in a research report on Friday.

Standard Chartered said it sees a number of tailwinds for crypto markets early in the new administration including regulatory changes and a shuffle of positions at the Securities and Exchange Commission (SEC) that could lead to a more benign stance on digital assets.

The bank said these positive developments could see total crypto market cap grow fourfold from $2.5 trillion currently to $10 trillion by the end of 2026.
...
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www.coindesk.com

Crypto Market Cap Could Balloon to $10T by 2026 Under Trump Administration: Standard Chartered

A Republican sweep is the best result for the digital assets sector and could bring regulatory and other positive changes, the report said.
www.coindesk.com www.coindesk.com
 
...
"Spot bitcoin ETF inflows have massively outpaced the growth in CME open interest last week. True directional spot buying has returned. ...
...
Glassnode data shows that bitcoin on exchanges has hit a year-to-date low at 2.95 million BTC. Since the Nov. 5 election, there's been a reduction of some 40,000 BTC, and demand appears to come from multiple exchanges such as Coinbase, Binance, and Bitfinex. Lower balances on exchanges indicate that bitcoin owners are looking to buy more bitcoin.
Click to expand...

www.coindesk.com

Where the Demand Comes From as Bitcoin Breaks Through $82K: Van Straten

As bitcoin hits new highs, it's helpful to examine the data to understand where the demand is coming from.
www.coindesk.com www.coindesk.com

Michael Saylor's MicroStrategy (MSTR), the largest corporate holder of bitcoin, has bought another 27,200 bitcoin (BTC) for almost $2 billion.
...
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www.coindesk.com

MicroStrategy Buys Another 27,200 BTC for $2B; Bitcoin Profits Sit at $11B

The company's bitcoin yield thus far this quarter is 7.4% and over 26% year-to-date.
www.coindesk.com www.coindesk.com
 
It has gone up so much so rapidly. When it falls if it does is a good time. Right now it's closing the barn doors after the horse already left.
 
pmbug said:
www.coindesk.com

Where the Demand Comes From as Bitcoin Breaks Through $82K: Van Straten

As bitcoin hits new highs, it's helpful to examine the data to understand where the demand is coming from.
www.coindesk.com www.coindesk.com



www.coindesk.com

MicroStrategy Buys Another 27,200 BTC for $2B; Bitcoin Profits Sit at $11B

The company's bitcoin yield thus far this quarter is 7.4% and over 26% year-to-date.
www.coindesk.com www.coindesk.com
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I remember blasting Taylor for using his companies money to invest in BTC. Taking real profits and putting it into the next tulip fad.
Guess I am eating crow now. :(
 
Bitcoin Tops $88K, Catapulting MicroStrategy to 24-Year Record Amid Supercharged Crypto Rally

Michael Saylor's company surpassed its lofty dotcom bubble highs, now holding over $24 billion worth of BTC in its treasury.

  • Bitcoin clinched another all-time high of $88,448 on Monday, surging 11% over the past 24 hours, while the broad-market CoinDesk 20 Index underperformed, with Ethereum's ETH and Solana's SOL lagging.
  • Crypto equities such as Coinbase, MicroStrategy, miners booked 20%-30% gains.
  • Crypto's price explosion is justified as the industry went from an "objectively oppressive regulatory regime to an overtly friendly one overnight," Fundstrat's head of digital assets strategy said.

The crypto rally shows no signs of slowing after a week since the U.S. elections.

Bitcoin (BTC) on Monday continued to climb to new all-time highs, blasting through the $88,000 level during U.S. trading hours, adding another 11.3% to its gains in the past 24 hours. The largest and oldest crypto's latest all-time high was $88,448, per CoinDesk Bitcoin Index (XBX) data. Its market capitalization currently stands around $1.73 trillion, surpassing silver's, according to Infinite Market Cap data. The flip happened at least once this year, fueled by continued positive sentiment around the spot exchange-traded funds (ETFs) in March.

More:

www.coindesk.com

Bitcoin Tops $88K, Catapulting MicroStrategy to 24-Year Record Amid Supercharged Crypto Rally

Michael Saylor's company surpassed its lofty dotcom bubble highs, now holding over $24 billion worth of BTC in its treasury.
www.coindesk.com www.coindesk.com
 
I wonder if any reporter is asking Elizabeth Warren for her thoughts on the crypto rally on camera today. That would be fun to watch.
 
... This rainbow chart is a popular tool that helps visualize bitcoin’s long-term price trends and market sentiment.

The chart itself is a colorful look at bitcoin’s historical price swings, plotted on a logarithmic scale. Originally crafted in 2014 by a Reddit user named Azop, it’s since been updated several times. Currently, blockchaincenter.net features two versions of the chart, which, at present, show BTC in the green “accumulate” zone. In past peaks—like the bull runs of 2013 and 2017—bitcoin surged into the “maximum bubble territory” range, represented in deep red.

heat-1.jpg


But during the 2021 bitcoin rally, prices didn’t reach those red extremes, only making it as high as the “FOMO intensifies” level in dark orange. Now, there’s a chance bitcoin may never hit the red zone again. However, if it rises to the orange level, prices could reach six figures, significantly higher than today. If bitcoin climbs into the “Is this a bubble?” light orange zone by mid-February 2025, the price would surpass $200,000 per coin.
...
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news.bitcoin.com

Bitcoin Hits Record High, but the Rainbow Chart Hints at Even Wilder Rides Ahead – Markets and Prices Bitcoin News

While bitcoin recently hit a record-breaking $89,983, the widely followed rainbow chart—known for illustrating bitcoin's long-term price movements and
news.bitcoin.com news.bitcoin.com

Interactive chart here:
 
El Salvador's Bitcoin Stash Rises Above $500M, but Bhutan Story Might Be Even Bigger

Monday’s bitcoin rally propelled El Salvador and Bhutan’s crypto stashes to $500 million and $1.1 billion respectively.

  • The value of El Salvador's bitcoin holdings have risen above $500 million and Bhutan's above $1 billion.
  • Bhutan's BTC holdings now account for more than one-third of its GDP versus El Salvador's stack at just 1.5% of its GDP.
  • The fiscal situation of El Salvador's government continues to improve.

More:

www.coindesk.com

El Salvador's Bitcoin Stash Rises Above $500M, but Bhutan Story Might Be Even Bigger

Monday’s bitcoin rally propelled El Salvador and Bhutan’s crypto stashes to $500 million and $1.1 billion respectively.
www.coindesk.com www.coindesk.com
 
Dogecoin Trade Goes From Meme to Reality as Donald Trump Confirms D.O.G.E

In an X post, Musk said that all Department of Government Efficiency actions will be posted online for maximum transparency.

  • President-elect Donald Trump has appointed Elon Musk and Vivek Ramaswamy to lead a newly formed Department of Government Efficiency (DOGE).
  • Musk mentioned creating a leaderboard for the most inefficient government spending, blending transparency with public engagement.
  • The announcement and the use of "DOGE" have significantly boosted dogecoin’s memetic fundamentals, with traders setting a long-term target of $1.
A frenzied narrative that boosted dogecoin (DOGE) prices over 500% turned to reality on Tuesday — showcasing how memetic bets could be a strong trading thesis.

More:

www.coindesk.com

Dogecoin Trade Goes From Meme to Reality as Donald Trump Confirms D.O.G.E

In an X post, Musk said that all Department of Government Efficiency actions will be posted online for maximum transparency.
www.coindesk.com www.coindesk.com
 
Stock and crypto trading platform Robinhood (HOOD) has added sizably to the number of cryptocurrencies available to trade for U.S. customers just one week after elections appeared to usher in a far friendlier regulatory environment for the industry.

With the introduction of Solana (SOL), Pepe (PEPE), Cardano (ADA) and XRP (XRP), Robinhood will now offer trading in 19 cryptocurrencies for its American clientele, the company said in a blog post Wednesday morning.
...
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www.coindesk.com

Robinhood Adds SOL, PEPE, ADA, XRP Following Trump Victory

Crypto-friendly Donald Trump’s win in the U.S. presidential race will likely result in a change in leadership at the Securities and Exchange Commission.
www.coindesk.com www.coindesk.com

I suspect this is just the beginning of wider availability of crypto on more traditional brokerage platforms. @searcher - have you heard anything from Fidelity on this subject? Are they planning to add more crypto options to their portal?
 
pmbug said:
I suspect this is just the beginning of wider availability of crypto on more traditional brokerage platforms. @searcher - have you heard anything from Fidelity on this subject? Are they planning to add more crypto options to their portal?
Click to expand...

Haven't heard anything about new stuff as of yet.

BTC, ETH & LTC listed as tradable coins.

Commission free funds:

Fidelity® Wise Origin® Bitcoin Fund (FBTC) and Fidelity® Ethereum Fund (FETH)
Fidelity® Crypto Industry and Digital Payments ETF (FDIG)
Fidelity® Metaverse ETF (FMET)

ETF screener:

ETF Screener, Research, News and Performance | ETF Research | Fidelity

Get the latest ETF news and performance with Fidelity’s ETF research tools. Use our ETF screener to search over 2,500 commission free ETFs
digital.fidelity.com

Edit to add:

www.fidelity.com

2024 End-of-Year Outlook | Covering Crypto | Fidelity

Fidelity professionals and industry leaders answer customer questions on crypto, FinTech, and blockchain technology. Topics include what is cryptocurrency, how to invest in Ethereum or bitcoin, and crypto market insights.
www.fidelity.com

www.fidelity.com

Types of cryptocurrencies and their potential pros and cons | Fidelity

Compare the key attributes of bitcoin, ethereum, and other cryptocurrencies, as well as their potential advantages and disadvantages.
www.fidelity.com

 
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Saw this just now and it made me laugh:



It's actually a nice way to visualize the issue though. AFAIK, Cardano is outclassed by SUI and EGLD and possibly others at the moment, but Cardano peeps are trying to punch up with their marketing.
 
Hmmm....



The 2 leading contenders for US Treasury Secretary are openly pro-Bitcoin.

1. Scott Bessent is "is very pro-crypto, particularly pro-Bitcoin"

2. Howard Lutnick, who is a Bitcoin mega-bull

Polymarket rates it 92.2% likely that one of these 2 will get the nod.

Here's what each have said about Bitcoin recently

“I think everything is on the table with Bitcoin. One of the most exciting things about Bitcoin is that it brings in young people and those who have not participated in markets before. Cultivating a market culture in the US, where people believe in a system that works for them, is the centerpiece of capitalism.”
-- Scott Bessent (source, @EleanorTerrett)

"I believe in a future where Bitcoin trades freely around the world. And we are going to do everything in our power to make it so that Bitcoin does just that – without exception and without limitation."
-- Howard Lutnick, Bitcoin Conference, 2024, Nashville

Polymarket ranks Bessent as 76% likely, Lutnick at 16.2% likely to get the job but today his odds are rising steeper than a Nov 11 Bitcoin price.

GcRSn9EW0AAQc4L
Click to expand...

 
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