Losses Hit Close To 50% Of Cardano (ADA) Investors
Cardano (ADA) became the center of attention in the Web3 space courtesy of its dwindling market showings that saw it drop drastically over the past few days. Per Cardano’s data on Coincodex, the coin asset is changing hands at roughly $0.61, having dropped by about 4.36% in the past 24 hours. Other significant statistics revealed that ADA has declined by 15.4% in the past week, and sentiment shifted towards a bearish outlook. Nevertheless, the coin is still trading above the 200-day Simple Moving Average (SMA), radiating a glimmer of hope for ADA amid the market declines. IntoTheBlock Releases Cardano (ADA) Holders’ Statistics IntoTheBlock, a provider of on-chain digital assets analysis, recently released Cardano (ADA) owners statistics, which reflected the coin’s present market status. According to the released data, no fewer than 43% of ADA Investors are currently recording losses, as against 57% still privileged to be registering profits. Furthermore, the analytical platform revealed that only 34% of ADA’s total supply is held by whale investors. Also, 33% of the coin holders have held on to the token for less than a year. The estimations above could be said to have summarized Cardano’s predicament. The lack of whale activities implies that most large investors do not consider ADA a good choice for profit-oriented investment. On the other hand, 33% of short-term token holders depict a lack of trust in the coin’s prospects for the future. ADA’s Woes Deepen With Recent CoinGecko Crypto Ranking CoinGecko recently has published the list of the top 20 most popular blockchain ecosystems on its platform. Surprisingly, Cardano (ADA) failed to make the top 10, as it could only manage to cling to the 13th position despite the efforts by the coin’s development team. Ethereum (ETH), Cardano’s main competitor did not only make the top five, as it was ranked the second most popular blockchain on CoinGecko. Other cryptocurrencies making up the top five most popular ecosystems in an ascending order fashion included Solana (SOL), BNB Smart Chain (BSC), COSMOS (ATOM), and Avalanche (AVAX). It is left to see how CoinGecko’s ranking would influence Cardano’s development team. ADA enthusiasts will hope it spurs those in charge of their favorite cryptocurrency ecosystem development to up their game to defeat market competitors.
Top 9 Crypto Tax Software Solutions in 2025
With the rapid growth of the cryptocurrency market, governments around the world have imposed tax regulations on digital assets. However, calculating and reporting crypto taxes can be complex and time-consuming due to the unique nature of cryptocurrencies. Crypto tax software is designed to assist individuals and businesses in managing and reporting their cryptocurrency-related tax obligations. The software simplifies this process by automating the tracking, calculation, and reporting of taxable events, such as trades, sales, and mining activities. And in turn helps users accurately determine their tax liabilities, generate necessary tax forms, and ensure compliance with tax laws. In this guide, we’ve organized a list of the Top 9 Crypto Tax Software Solutions in 2025. These user-friendly platforms are designed to streamline your tax reporting process, saving your valuable time and ensuring accuracy every step of the way. Summary Top 9 Crypto Tax Software Solutions in 2025 TaxBit TaxBit is a crypto tax software that was launched in 2018. It provides real-time insights into the tax implications of every crypto trade in your exchange and wallet accounts.The software is designed to simplify the complexities of calculating capital gains, losses, and tax liabilities associated with cryptocurrency transactions. One of the key features of TaxBit is its seamless integration with various cryptocurrency exchanges, wallets, and platforms. This integration allows users to import their transaction data automatically, eliminating the need for manual data entry and significantly reducing the chance of errors. By consolidating transaction data from multiple sources, TaxBit provides a centralized platform for comprehensive tax reporting. TaxBit’s software supports different tax accounting methods, including FIFO, LIFO, and specific identification. This flexibility allows users to choose the most suitable method for their tax reporting needs. The software performs accurate calculations based on the imported transaction data and selected accounting method, ensuring compliance with tax regulations. Pros of Taxbit Cons of Taxbit CoinTracker CoinTracker was founded in 2017 by Chandan Lodha and Jon Lerner. It is a well-known cryptocurrency tax software that provides individuals, businesses, and tax professionals with a platform to track, manage, and report their cryptocurrency portfolios for tax purposes. The software has many tools to make it easier for you to deal with the tricky parts of reporting taxes on cryptocurrency. Besides helping with taxes, It also lets you keep track of how well your crypto investments are doing. It shows you things like how much crypto you have, where it’s invested, and how it’s growing over time. This helps you see the big picture of your crypto investments and make smarter decisions about them. One notable feature of CoinTracker is its ability to handle complex transactions such as trades, swaps, and staking rewards, which can be challenging to track manually. The software calculates capital gains and losses based on transaction data, enabling users to generate accurate tax reports for their crypto activities. Pros of CoinTracker Cons of CoinTracker ZenLedger ZenLedger is a crypto software which positions itself as a user-friendly platform that can streamline your crypto tax reporting process. It aims to make the process of tracking and managing cryptocurrency transactions accessible to users with varying levels of experience and technical knowledge. The software supports a wide range of cryptocurrencies, including popular ones like Bitcoin and Ethereum, as well as less common tokens. It ensures compatibility with diverse cryptocurrency portfolios, allowing users to manage all their holdings within a single platform. ZenLedger provides valuable tools for cryptocurrency tax management, users should consult with a tax professional or accountant to ensure compliance with local tax laws and regulations. Pros of ZenLedger Cons of ZenLedger CoinTracking CoinTracking is a cryptocurrency tracking and tax reporting software that supports users in monitoring their trades with an in-depth portfolio tracker and generating tax reports. It’s one of the most popular and powerful crypto tax tools on the market. It generates tax reports and forms, including IRS Form 8949, Schedule D, and other country-specific tax reports, making it easier for users to accurately report their cryptocurrency gains and losses. However, it provides capital gains summaries, income reports, and other tax-related documents that can be used during tax preparation and filing. The software offers several features and benefits that make it a popular choice among individuals, traders, and tax professionals. Pros of CoinTracking Cons of CoinTracking Koinly Koinly is an online crypto tax platform that helps users monitor all their crypto transactions and generate regulatory-compliant tax reports. It was founded in 2018 by Robin Singh and has offices in the UK, US, Sweden, and Germany. This is a cryptocurrency tax software designed to assist individuals, traders, and tax professionals in managing their cryptocurrency transactions and fulfilling their tax obligations. It provides tools and features that simplify the process of tracking, calculating, and reporting cryptocurrency gains, losses, and taxable events for tax purposes. It supports over 6,000 cryptocurrencies and is available in over 20 countries, including the UK, Canada, the US, New Zealand, and Australia. Pros of Koinly Cons of Koinly TokenTax TokenTax is a crypto tax software and a full-service accounting firm. It is designed to help you prepare your crypto taxes with features such as fast data import, real-time estimates, and expert support. One of the main challenges with cryptocurrency taxation is the tracking and reporting of transactions across multiple exchanges and wallets. TokenTax addresses this challenge by integrating with various cryptocurrency exchanges and wallet providers, allowing users to import their transaction data directly into the platform. This eliminates the need for manual data entry and greatly reduces the potential for errors. It helps individuals, traders, and businesses simplify the process of calculating and reporting their cryptocurrency taxes. Pros of TokenTax Cons of TokenTax Coinpanda Coinpanda is a cryptocurrency tax software platform that helps individuals and businesses manage their cryptocurrency tax reporting and compliance. It offers tools and features to simplify the process of calculating capital gains, losses, and tax obligations associated with cryptocurrency investments. However, it supports the import of transaction data from over 300 cryptocurrency exchanges, wallets, and platforms, reducing the need for manual
Top Cryptocurrencies to Watch in 2025: Beyond Bitcoin
The unpredictable nature of cryptocurrencies has long been a source of anxiety. That being said, it’s a quality that attracts investors to this field like a magnet. High volatility is frequently associated with danger, but it’s also associated with potentially large profits. ‘ Because of this, investors in cryptocurrency constantly scour the market to identify the rising stars among the dozens of new projects that constantly crop up. Key Takeaways Bitcoin (BTC) Bitcoin, often referred to as the pioneer of cryptocurrencies, was introduced in 2008 by an anonymous person or group using the pseudonym Satoshi Nakamoto with a market cap of over $1 trillion. The release of the Bitcoin whitepaper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” marked the beginning of a financial revolution. The main objective behind Bitcoin’s creation was to establish a decentralized digital currency that operates without the need for intermediaries like banks or governments. The first block of the Bitcoin blockchain was mined in January 2009, officially launching the network and making it accessible to the public. Over the years, Bitcoin has endured numerous challenges, including skepticism from traditional financial institutions, regulatory hurdles, and technical debates within its community. Despite these obstacles, Bitcoin has survived and thrived, solidifying its position as the leading cryptocurrency. Current Market Position and Value Bitcoin holds the largest market capitalization among all cryptocurrencies, accounting for a significant portion of the total crypto market value. Its market dominance is a testament to its enduring popularity and trustworthiness within the crypto community. The value of Bitcoin has witnessed remarkable growth since its inception. From being virtually worthless in its early days, Bitcoin’s price surged to reach an all-time high of $73,750.07 for the first time in two years. While the price has fluctuated due to market dynamics and external factors, Bitcoin’s long-term trajectory has been upward, making it an attractive investment for many. Unique Features and Benefits Bitcoin’s design incorporates several unique features that set it apart from traditional currencies and other cryptocurrencies. One of its key features is its finite supply, with only 21 million Bitcoins ever to be mined. This scarcity is built into the protocol, ensuring Bitcoin remains resistant to inflationary pressures that plague fiat currencies. Another distinguishing feature of Bitcoin is its decentralized nature, meaning it is not controlled by any single entity or government. This decentralization gives users greater financial autonomy and security, as transactions are recorded on a public ledger known as the blockchain, making them transparent and immutable. Furthermore, Bitcoin transactions are pseudonymous, offering users a level of privacy that is often lacking in traditional financial systems. While transactions are publicly recorded, the parties’ identities remain concealed behind cryptographic addresses. In addition to these features, Bitcoin offers several benefits to its users, including low transaction fees, fast cross-border transfers, and the ability to store value without relying on a central authority. As a result, Bitcoin has garnered a loyal following of supporters who view it not just as a speculative investment but as a revolutionary technology with the potential to reshape the global financial landscape. Ethereum (ETH) Ethereum, launched in 2015 by Vitalik Buterin and a team of developers, introduced a groundbreaking concept to the world of cryptocurrencies: smart contracts. Smart contracts are self-executing contracts with the terms of the agreement directly written into code. These contracts automatically execute actions when predefined conditions are met, eliminating the need for intermediaries and enhancing transparency and efficiency. The introduction of smart contracts opened up a myriad of possibilities beyond simple peer-to-peer transactions. They enable a wide range of applications, from decentralized finance (DeFi) platforms to supply chain management systems and even digital identity verification. Ethereum’s ability to support smart contracts has made it a versatile platform for developers to create innovative solutions across various industries. Total Supply of Ethereum (ETH) Ethereum, unlike some other cryptocurrencies like Bitcoin, does not have a fixed supply limit. Instead, Ethereum has a monetary policy that caps the annual issuance of new ETH at 18 million ETH per year. This approach was adopted to strike a balance between ensuring network security through block rewards for miners and preventing excessive inflation that could devalue the cryptocurrency. The total supply of Ethereum increases gradually over time, with new ETH being created as block rewards for miners and to fund the Ethereum Foundation’s development activities. As of now, the total supply of Ethereum is over 120 million ETH, with new ETH being added to the circulating supply regularly. The unlimited supply of Ethereum has implications for its inflationary or deflationary nature. With a capped annual issuance of new ETH, Ethereum’s inflation rate is relatively low compared to some fiat currencies but higher than that of Bitcoin due to its fixed supply limit. This means that while Ethereum may experience some level of inflation, it is designed to be less inflationary than traditional fiat currencies that can be printed in unlimited quantities by central banks. On the flip side, the unlimited supply of Ethereum can be seen as a potential drawback from a deflationary perspective. In a deflationary cryptocurrency system like Bitcoin, the fixed supply limit creates scarcity, which can drive up the value of the cryptocurrency over time as demand increases and the supply remains constant. In contrast, the unlimited supply of Ethereum means that it may not have the same level of scarcity or deflationary pressure as Bitcoin. However, Ethereum’s transition to Ethereum 2.0 and its move to a proof of stake consensus mechanism are expected to reduce issuance and could make it more deflationary in the future. Decentralized Applications (dApps) Building on the foundation of smart contracts, Ethereum has become a hub for decentralized applications, commonly referred to as dApps. These applications operate on the Ethereum blockchain, leveraging its secure and decentralized infrastructure to offer services without central control. dApps encompass a broad spectrum of functionalities, including decentralized exchanges (DEXs), lending platforms, gaming ecosystems, and more. One of the defining characteristics of dApps is their open-source nature, allowing anyone to inspect, modify, and
Legality of Crypto: Legal Perspectives in 2025
Cryptocurrency has exploded into the financial scene, luring investors with its potential for high returns. From Bitcoin’s rapid rise to the creation of countless altcoins, the digital currency market is brimming with excitement. But with this innovation comes a very important question: is it legal? Key Takeaways Global View of The Legality of Crypto Cryptocurrency is not universally recognized as legal tender. Legal tender refers to the official medium of payment recognized by a government to settle debts within its jurisdiction. It’s the currency that must be accepted for financial transactions and is backed by the government’s authority. Cryptocurrency, conversely, is a digital or virtual currency that uses cryptography for security and operates independently of any central authority. Unlike legal tender, cryptocurrencies are decentralized and not issued or regulated by any government. Different Approaches to Cryptocurrency Regulations Regulations concerning cryptocurrency differ widely across countries, reflecting varying acceptance and understanding of digital currencies. Permissive Countries Some countries have adopted a more permissive approach, embracing cryptocurrencies and providing a supportive environment for blockchain technology. Examples include Switzerland, Malta, and Singapore, with clear regulations aimed at fostering innovation while protecting investors. Restrictive Countries On the flip side, there are countries that have taken a more restrictive stance. They have imposed significant restrictions on crypto trading and even banned initial coin offerings (ICOs) entirely. ICOs are a fundraising mechanism where new crypto projects sell digital tokens to raise capital. China, for instance, has banned cryptocurrency exchanges and initial coin offerings (ICOs), while India has proposed legislation to criminalize certain crypto activities. The Role of International Organizations in Crypto regulation. International organizations like the International Monetary Fund (IMF) and the Financial Stability Board (FSB) are actively engaging in discussions about cryptocurrency regulation. The IMF has expressed concerns about the potential risks of cryptocurrencies, such as money laundering, tax evasion, and financial instability. However, it also recognizes the benefits of digital currencies in promoting financial inclusion and innovation. Initiatives are underway to develop international standards and guidelines to address the challenges posed by cryptocurrencies. These discussions aim to strike a balance between regulating the industry to protect consumers and investors while also allowing for innovation and growth in the crypto ecosystem. Key Legal Considerations for Crypto Even though the global picture is still fractured, anyone interested in cryptocurrencies must consider certain important legal issues. These legal considerations are; Regulatory Bodies Depending on your location, different regulatory bodies oversee cryptocurrency. In the United States, the Securities and Exchange Commission (SEC) plays a major role in regulating the crypto industry, focusing primarily on securities offerings and exchanges. Other countries have their own regulatory bodies, such as the Financial Conduct Authority (FCA) in the UK and the Financial Services Agency (FSA) in Japan, which oversee crypto-related activities within their jurisdictions. Cryptocurrency Taxation Another important consideration for any investor is taxation. Cryptocurrency taxation has become a complex and evolving area of law. In many countries, including the US, crypto holdings are treated as property for tax purposes. This means that capital gains tax may apply when you sell or exchange your cryptocurrencies for fiat currency or other assets. Additionally, transactions involving cryptocurrencies may trigger tax obligations, such as income tax or sales tax, depending on the nature of the transaction and the jurisdiction’s tax laws. Anti-Money Laundering (AML) and Know Your Customer (KYC) Regulations Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations are critical for combating illicit activities, such as money laundering and terrorist financing, in the crypto industry. These regulations require crypto exchanges and other service providers to implement robust AML/KYC procedures to verify the identities of their users and monitor transactions for suspicious activities. Crypto exchanges are typically required to collect personal information from their users, such as government-issued ID and proof of address, and to report certain transactions to regulatory authorities. Failure to comply with AML/KYC regulations can result in severe penalties, including fines and criminal charges. Potential Legal Risks Associated with Initial Coin Offerings (ICOs) Initial Coin Offerings (ICOs) are fundraising mechanisms where companies or projects issue digital tokens to investors in exchange for funding. While ICOs have become popular for startups to raise capital, they also come with significant legal risks and uncertainties. The regulatory status of ICOs varies by country, with some jurisdictions treating them as securities offerings subject to strict regulations while others have adopted a more permissive approach. This regulatory uncertainty has led to legal challenges and enforcement actions against ICO issuers for violations of securities laws. Investors participating in ICOs should be aware of the potential legal risks, including the possibility of losing their investment due to fraud or regulatory actions. Due diligence and careful consideration of the legal implications are essential before investing in any ICO. Countries Where Cryptocurrencies Are Legal Every region has a different strategy, and the legal environment surrounding cryptocurrencies is continuously changing. Let’s examine the countries where cryptocurrencies are legal United States In the United States, the legal status of cryptocurrencies is a labyrinth of complexities. The U.S. Securities and Exchange Commission (SEC) considers many cryptocurrencies as securities. Consequently, they fall under federal securities laws. Initial Coin Offerings (ICOs) must adhere to registration and disclosure requirements unless they qualify for exemptions. The Internal Revenue Service (IRS) treats cryptocurrencies as property for tax purposes. Individuals must report capital gains or losses from crypto transactions. While some states embrace crypto-friendly regulations to foster innovation and investment, others remain cautious. Certain states impose restrictions or outright bans on specific crypto activities. European Union (EU) The EU takes a decentralized approach, allowing member states to regulate crypto independently. Each EU member state has the autonomy to shape its crypto regulations. Consequently, the legal status of cryptocurrencies varies significantly across the region. To create consistency, the EU introduced the Fifth Anti-Money Laundering Directive (5AMLD). This directive mandates that crypto exchanges and wallet providers conduct Anti-Money Laundering (AML) and Know Your Customer (KYC) checks. Some EU countries, such as Malta and Estonia, have been proactive in establishing clear regulatory frameworks
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Top 10 DeFi Protocols You Need to Know About in 2025
In this detailed guide, we will be looking at top 10 defi protocols you need to be conversant with in 2025, Let’s get started DeFi, or Decentralized Finance, consists of financial applications and services that use blockchain technology. Picture a global financial network that’s always open, where you can borrow, lend, trade, and manage your assets without the need for banks. DeFi uses smart contracts, which are automated agreements that execute transactions when certain conditions are met. This removes the need for central authorities, creating a more secure and transparent financial system. While DeFi is still new, its potential to change the current financial system is clear. This blog post will guide you through this exciting new area. We will look at the top 10 DeFi protocols of 2025, giving you the information you need to explore this innovative financial space and discover many new opportunities. Key Takeaways What are Decentralized Exchanges (DEXs) Decentralized exchanges (DEXs) are key to DeFi trading, letting users exchange cryptocurrencies directly without central institutions. Unlike traditional exchanges, DEXs use smart contracts to automatically match and execute orders, providing a secure and transparent trading experience. We will now look at some of the top DEXs in 2025: Top 10 DeFi Protocols You Need to Know About in 2025 1. Uniswap (UNI) Image Source: Uniswap Uniswap is a leader in DeFi trading with its Automated Market Maker (AMM) model, which has transformed how trading is done. Instead of using traditional order books, AMM uses liquidity pools where users contribute crypto assets. Prices are set automatically by the smart contract, based on the pool’s supply and demand. Uniswap is known for its substantial liquidity, attracting a large user base and ensuring smooth trading. Additionally, Uniswap places a strong emphasis on its community, actively seeking feedback to guide its development. 2. Curve Finance (CRV) Image Source: Curve Curve Finance is designed for those who want to swap stablecoins efficiently with minimal slippage, making it ideal for traders and arbitrageurs. Unlike Uniswap, Curve uses a specialized algorithm tailored for stablecoin trading that reduces price fluctuations. This ensures that users get the best exchange rates when trading pegged assets like USDC and DAI. With its focus on stablecoin liquidity, Curve is a crucial tool for managing crypto portfolios and protecting against market volatility. 3. SushiSwap (SUSHI) Image Source: SushiSwap SushiSwap is a well-known decentralized exchange that offers a mix of basic trading functions and extra features. It builds on the Automated Market Maker model, allowing users to trade a wide variety of cryptocurrencies. Beyond just trading, SushiSwap includes options like yield farming, where users can stake their cryptocurrencies to earn rewards. It also provides on-chain analytics to give users valuable information about the depth of liquidity pools and trading activities. DEX Aggregators While each decentralized exchange (DEX) has its benefits, searching multiple platforms for the best prices can be challenging. DEX aggregators like 1inch simplify this process. 1inch works like a search engine for DEXs, scanning different platforms to find the best exchange rates for trades. It then directs the trade through the most efficient DEX, ensuring users receive the best possible deal. Tools like 1inch are valuable for DeFi traders who want to optimize their transactions and maximize returns. Understanding these leading DEXs and the function of DEX aggregators equips you to be a savvy DeFi trader. Remember, DEXs allow you to manage your crypto assets independently and trade on your own terms, leading to a more open and accessible financial future. Lending/Borrowing Protocols Lending and borrowing protocols are crucial to DeFi, allowing users to use their crypto holdings in new ways. These protocols set up a peer-to-peer lending marketplace where users can deposit their crypto assets to earn interest or borrow money for different needs. Let’s look at some of the top lending and borrowing protocols in 2024: 4. Aave (AAVE) Image Source: Aave Aave has become a leading player in DeFi lending, providing a wide array of borrowing and lending options. Users can deposit various crypto assets into liquidity pools to earn attractive interest rates. Aave also offers competitive rates for borrowers needing crypto loans. One distinctive feature of Aave is its support for flash loans—quick, unsecured loans that must be repaid in the same transaction block. Flash loans open up many creative possibilities for developers and advanced users in the DeFi space. 5. Compound Finance (COMP) Image Source: Compound Finance Compound Finance is known for its easy-to-use interface and simple approach to crypto lending. Users can quickly deposit their crypto assets on Compound and start earning interest immediately. The platform also allows users to borrow against their deposited crypto for various purposes. With its emphasis on simplicity, Compound is an excellent option for beginners in DeFi looking for an easy way to earn interest on their crypto assets. 6. MakerDAO (MKR) Image Source: MakerDAO MakerDAO is notable for issuing DAI, a well-known decentralized stablecoin. Unlike typical stablecoins tied to traditional currencies, DAI maintains its stability through a system where users lock up crypto assets as collateral to create DAI, acting like a decentralized loan. MakerDAO also has a strong governance system, using its MKR token to let holders vote on important decisions about the protocol. Asset-Specific Lending Protocols The DeFi lending sector is continuously developing, with new protocols emerging that focus on specific types of assets. An exciting trend is the growth of lending protocols that handle real-world assets (RWAs), like real estate or invoices. These protocols connect traditional finance with DeFi, allowing users to use real-world assets in DeFi applications. Although these RWA lending protocols are still developing, they have great potential to expand DeFi’s reach. Liquid Staking Protocols Ethereum’s switch to Proof-of-Stake (PoS) has led to the development of liquid staking protocols in DeFi. Unlike traditional staking, where assets are locked up for long periods, liquid staking lets users earn rewards from staking their crypto while keeping their assets liquid. This section will discuss the significance of liquid staking and examine two leading protocols:
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Bitwise Plans to Launch Bitcoin Standard ETF Targeting Firms with BTC Reserves
Bitwise Asset Management has announced plans to launch the Bitcoin Standard ETF, a fund designed to focus on companies holding significant Bitcoin reserves. The San Francisco-based investment firm revealed its strategy on Friday, emphasizing the growing role of Bitcoin in corporate balance sheets. The ETF will track the performance of publicly traded firms with substantial Bitcoin holdings, excluding direct Bitcoin investments. This distinction allows the fund to focus on companies embedding Bitcoin into their financial strategies rather than speculative investments. The planned ETF is subject to regulatory approval and marks an innovative step in merging corporate strategy with digital asset exposure. Targeting Bitcoin-Adopting Companies Bitwise’s Bitcoin Standard ETF is set to capture a niche market of corporate Bitcoin adoption. Companies like MicroStrategy, Tesla, and Marathon Digital—known for their Bitcoin reserves—are expected to feature prominently in the ETF’s portfolio. The fund aims to provide institutional and retail investors an indirect way to gain exposure to Bitcoin through equities rather than purchasing the cryptocurrency directly. By focusing on equities, the ETF avoids the complexities of managing physical Bitcoin custody, a significant hurdle for direct Bitcoin exchange-traded products. Moreover, the target companies must meet some criteria, including owning a minimum of 1,000 BTC stores, boasting a minimum of $100 million in market capitalization, and at least $1 million in daily liquidity. The condition permits private stock ownership of less than 10%. Regulatory Hurdles and Market Potential The launch of the Bitcoin Standard ETF hinges on approval from the U.S. Securities and Exchange Commission (SEC), which has historically taken a cautious approach toward cryptocurrency-based financial products. However, Bitwise is optimistic, citing the ETF’s unique structure as a differentiating factor. The product enters a competitive landscape where traditional Bitcoin ETFs have struggled to gain traction amid regulatory and market volatility. The Bitcoin Standard ETF aims to address these challenges by aligning with well-established corporate entities and their financial strategies. While the timeline for regulatory approval remains uncertain, the Bitcoin Standard ETF reflects growing confidence in Bitcoin’s long-term role within the financial ecosystem.
Michael Saylor’s MicroStrategy Surpasses U.S. and China Governments in Bitcoin Reserves
Michael Saylor’s Microstrategy, a software firm, became the topic of discussion in the crypto space after attaining a landmark feat with its Bitcoin holdings. Per the news making headlines, Microstrategy’s recent Bitcoin acquisition indicates that the platform has surpassed the Bitcoin reserves of some nations with robust economies, including the United States and China. Notedly, the software firm was said to have increased its total Bitcoin reserve to roughly 214,246 tokens after reportedly accumulating about 9,245 BTC at an average rate of $67,382 per coin, which amounted to $623M between March 11 and 18, 2024. Microstrategy’s Bitcoin Holdings Relative To China And The U.S. Taking to X, Ki Young Ju, the founder and Chief Executive Officer of CryptoQuant, who also doubles as a Bitcoin on-chain analyst, has congratulated Michael for achieving a noteworthy accomplishment. The CryptoQuant CEO noted that Microstrategy’s approximated 214K BTC has exceeded that of the United States and China governments, holding about 210K and 194K Bitcoins, respectively. While Michael’s achievement with Microstrategy will undoubtedly go down the record books as a phenomenal landmark, it is worth noting that the software maker’s outlet has been in the active business of stacking up BTC in line with its Treasury Reserve Allocation (TRA) strategy. In addition, Microstrategy began accumulating Bitcoin in 2020 to bypass the growing inflation that almost resulted in the devaluation of the U.S. dollar following the negative economic impact of the COVID-19 outbreak pandemic. On the other hand, the Chinese and American governments procure BTC majorly by confiscating the asset following evidence of illegal activities involving the token. Bitcoin’s Current Market Status – Implications For The Software Outlet? According to Bitcoin’s market statistics on the popular cryptocurrency price tracking site, CoinMarketCap, the world’s number one crypto asset is priced at roughly $67,508 after a 7.5% jump in the past 24 hours. Based on BTC’s current price, Microstrategy’s 214,246 Bitcoin reserve will be worth around $14.5B. Meanwhile, according to one of Michael’s tweets, the Microstrategy founder revealed that as of March 18, 2024, his platform has spent roughly $7.53B to accumulate 214,246 BTC at an average price of $35,160 per coin. The Microstrategy founder’s revelation invariably implies that the software outlet boasts unrealized profits of about $6.97B. The estimated returns on investment (ROI) stand a greater chance to surge to the moon depending on BTC’s future price trajectory, especially after the Bitcoin halving event.
