Bitcoin Magazine

21Shares Launches Bitcoin and Gold ETP on London Stock Exchange

21Shares today launched its Bitcoin and gold exchange-traded product, the 21Shares Bitcoin Gold ETP (BOLD), on the London Stock Exchange, expanding the range of crypto-linked investment products available to UK retail investors.

BOLD is the fifth cryptocurrency product from 21Shares to receive prospectus approval from the UK Financial Conduct Authority. It follows the firm’s existing Bitcoin and Ethereum offerings and comes as demand grows for regulated exposure to digital assets through traditional market infrastructure.

The product trades on the LSE in pounds sterling under the ticker BOLD and carries a 0.65% annual management fee, the company said. 

It is fully physically backed by its underlying assets, with Bitcoin and gold held in institutional-grade custody and stored offline, a structure intended to reduce counterparty and custody risk compared to many retail investment options.

Bitcoin and gold as a means of risk management

Developed in partnership with ByteTree Asset Management, BOLD combines Bitcoin and gold into a single vehicle designed around risk management rather than fixed allocations.

The ETP rebalances monthly using inverse historical volatility, allocating more weight to the less volatile asset at each rebalance. The aim is to achieve roughly equal risk contribution from both Bitcoin and gold, rather than a simple 50/50 capital split.

This structure is happening as gold surges to new highs. Gold’s long-standing role as a store of value is intended to offset Bitcoin’s sharper price swings, particularly during risk-off environments, the company said. 

As of January 12, 2026, BOLD had $40.1 million in assets under management and reported a three-year Sharpe ratio of 1.79, according to 21Shares. The product adjusts its holdings each month to stay aligned with its volatility-based framework, trimming the stronger asset and adding to the weaker one.

Russell Barlow, CEO of 21Shares, said the London listing reflects the firm’s push to broaden access to regulated crypto products in the UK.

“BOLD aims to give investors exposure to Bitcoin’s growth potential while retaining the relative stability of gold,” Barlow said, adding that the product is positioned as a potential hedge against inflation.

Charles Morris, founder and chief investment officer of ByteTree Asset Management, described Bitcoin and gold as increasingly complementary assets. He said BOLD applies a rules-based process to combine them in a transparent structure designed for investors navigating persistent inflation and monetary uncertainty.

Back in October 2025, the U.K.’s Financial Conduct Authority lifted its four-year ban on retail access to bitcoin and crypto exchange-traded notes, allowing firms to offer cETNs on FCA-approved exchanges such as the London Stock Exchange and Cboe UK. 

The move followed months of consultation and signaled a more open—though still cautious—approach to crypto regulation. 

FCA digital finance executive David Geale said the decision reflected a more mature and better-understood market, while maintaining investor protections. 

Unlike ETFs, ETNs are debt instruments that track the price of assets like bitcoin without requiring investors to hold the underlying crypto.

This post 21Shares Launches Bitcoin and Gold ETP on London Stock Exchange first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Strategy ($MSTR) Just Spent $1.25 Billion on 13,627 Bitcoin, Pushing BTC Holdings to 687,410

Strategy added to its bitcoin treasury for a third straight week, acquiring 13,627 BTC for roughly $1.25 billion at an average price of $91,519 per coin, according to an SEC filing dated January 12.

The purchases were made between January 5 and January 11 and funded through the company’s at-the-market offering program, which included sales of Class A common stock (MSTR) and its 10.00% Series A perpetual preferred stock, Stretch (STRC). 

The sales generated about $1.2 billion in net proceeds, with $1.1 billion coming from common stock and $119 million from preferred equity.

The latest buy brings Strategy’s total bitcoin holdings to 687,410 BTC, acquired for an aggregate cost of $51.8 billion at an average purchase price of $75,353 per bitcoin. 

At current prices, the stash is worth roughly $62 billion.

Last week, Strategy disclosed another sizable bitcoin purchase, acquiring 1,286 BTC for about $116 million in a filing with the U.S. Securities and Exchange Commission.

The buys, made between late December and early January, lifted the company’s total holdings to 673,783 BTC at the time, funded through Class A share sales under its at-the-market program.

Strategy also increased its U.S. dollar reserves last week to $2.25 billion to support preferred dividends and debt obligations, while reporting an average bitcoin cost basis of roughly $75,000 per coin.

Despite bitcoin rebounding above $90,000 to start 2026, the firm recorded a $17.44 billion unrealized loss in the fourth quarter of 2025 after prices fell sharply from October highs.

Strategy’s recent MSCI drama 

Over the past several months, Strategy has been at the center of attention tied to its inclusion in MSCI’s global equity indexes due to its massive Bitcoin treasury strategy. 

MSCI — one of the world’s most influential index providers — launched a review in late 2025 to consider whether companies with more than ~50 % of assets in digital assets (so-called Digital Asset Treasury Companies, or DATCOs) should remain in major benchmarks like the MSCI World and MSCI USA indexes.

If excluded, passive funds tracking these indexes could be forced to sell billions of dollars of MSTR shares, with estimates suggesting up to ~$2.8 billion in outflows from MSCI-linked funds alone and even more if other providers followed suit. Analysts from JPMorgan and TD Cowen estimated that exclusion from these indices could threaten billions in additional market value on top of that.

Strategy’s stock endured some declines and heightened risk-off sentiment as markets priced in the threat of index exclusion, with its share price dropping sharply in late 2025 amid these concerns. 

Company leadership, including Michael Saylor, publicly defended its positioning as a legitimate operating company rather than a passive fund, engaging with MSCI during the consultation and stressing its enterprise operations alongside Bitcoin holdings.

In a statement on X, Saylor said that the company is “not a fund, not a trust, and not a holding company.” He described the firm as a publicly traded operating company with a $500 million software business and a unique treasury strategy that uses Bitcoin as productive capital.

In early January 2026, MSCI announced it would not implement proposed exclusions of DATCOs from its indexes at this time, effectively postponing any removal for the upcoming February 2026 review. This decision was widely interpreted as short-term relief for Strategy — lifting some selling pressure and leading to a 4 %–6 % rise in MSTR stock as investors welcomed the reprieve.

However, MSCI also signaled a broader consultation on how to classify non-operating companies, indicating that similar debates could resurface later in 2026. 

Despite all this buying, the price of bitcoin has been little-changed over the last couple of months. Bitcoin has bounced around the $90,000 range and is currently trading at $90,555.  

This post Strategy ($MSTR) Just Spent $1.25 Billion on 13,627 Bitcoin, Pushing BTC Holdings to 687,410 first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Bitcoin Price Holds $90,000 as Tariff Ruling Delay Eases Some Macro Jitters

The bitcoin price was trading near the $90,000 mark on Friday as crypto markets steadied following a delay from the U.S. Supreme Court on a closely watched ruling tied to President Donald Trump’s tariff policy, temporarily easing near-term macro uncertainty.

The price of bitcoin stood at $90,443 at the time of writing, down about 1% over the past 24 hours, according to market data. Daily trading volume totaled roughly $45 billion, while bitcoin’s total market capitalization slipped to approximately $1.80 trillion, also down 1% on the day.

Despite the modest pullback, the bitcoin price remains tightly rangebound near recent highs. The asset is currently about 2% below its seven-day high of $91,839 and roughly 1% above its seven-day low of $89,671, per Bitcoin Magazine Pro data. 

Bitcoin’s circulating supply now stands at 19,973,659 BTC, inching closer to its fixed cap of 21 million coins — a structural feature that continues to underpin long-term bullish narratives. 

Tariff uncertainty weighs, then lifts the bitcoin price

Crypto prices initially wavered this week as traders positioned ahead of a potential Supreme Court decision on the legality of Trump-era global tariffs, widely viewed as a major macro catalyst. 

However, markets moved higher on Friday after the court delayed its ruling until next week, reducing immediate downside risk across equities, bonds, and digital assets.

The bitcoin price hovered around $90,000 near the U.S. equity market open as investors reassessed risk exposure. 

Analysts said the delay eased concerns about abrupt fiscal disruptions, including the possibility that the U.S. Treasury could be forced to refund more than $130 billion to importers if the tariffs were struck down.

Bitcoin has increasingly traded as a macro-sensitive asset, reacting to shifts in policy expectations, liquidity conditions, and geopolitical uncertainty. 

As a result, major legal or political developments continue to influence short-term price action, even as long-term adoption trends remain intact.

Bitcoin price in consolidation following early-year rally

The current price reflects a cooling period after the bitcoin price surged in the opening days of the year, briefly pushing toward new short-term highs. 

That early-January rally reignited bullish sentiment but also triggered profit-taking as momentum faded near resistance.

Technically, traders are watching the $90,000–$91,000 zone as a key support area. A sustained break lower could expose downside toward the high-$80,000 range, while a move back above $92,000 would likely reopen the path toward higher resistance levels.

For now, bitcoin remains locked in consolidation, with volatility compressed and traders awaiting a clearer catalyst.

Will the United States buy Bitcoin?

Cathie Wood of ARK Invest said in a podcast recently that politics could drive the U.S. to actively buy bitcoin in 2026. Wood argues that crypto has become a durable political issue for President Trump, potentially shaping policy ahead of the midterm elections.

While the U.S. currently holds a bitcoin reserve made up of seized assets, Trump has pledged not to sell any of the bitcoin, and the original goal was to acquire one million BTC.

Wood suggested in her conversation that the administration may move from holding only confiscated bitcoin to purchasing BTC outright for a national strategic reserve.

Crypto has also emerged as a more organized political constituency, supporting Trump and engaging with the White House through events and donations. On the policy side, executive orders have established the reserve and stockpile, with recommendations for Treasury-led expansion.

Wood sees government purchases as a potential market inflection point, reinforcing bitcoin’s scarcity as nearly 20 million of its 21 million cap have already been mined. If the United States would start buying bitcoin, its safe to assume that the bitcoin price would react positively.

At the time of writing, the bitcoin price is $90,814. 

This post Bitcoin Price Holds $90,000 as Tariff Ruling Delay Eases Some Macro Jitters first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

South Korea Preparing to Approve Spot Bitcoin ETFs in Crypto Policy Pivot

South Korea is reportedly preparing to open its financial markets to spot bitcoin exchange-traded funds (ETFs) this year, marking a shift in the country’s long-standing approach to digital assets as regulators accelerate work on a comprehensive new crypto law.

The plan was outlined in the government’s newly released 2026 Economic Growth Strategy, with the Financial Services Commission (FSC) taking the lead on implementation. 

If approved, spot bitcoin ETFs would become available to domestic investors for the first time, placing South Korea alongside markets such as the United States and Hong Kong, where similar products have already attracted billions of dollars in inflows.

Until now, Korea’s capital markets rules have not recognized cryptocurrencies like bitcoin or bitcoin ETFs as eligible underlying assets for ETFs, effectively blocking their launch. That stance is now changing as policymakers look to bring more crypto activity into regulated channels and reduce the flow of capital to offshore platforms.

The bitcoin ETF push is moving in parallel with a broader overhaul of digital asset regulation. The FSC is fast-tracking what it calls “Phase Two” digital asset legislation, a bill expected to focus heavily on stablecoins. 

According to government plans, the law will introduce a licensing system for stablecoin issuers, minimum capital requirements, and strict reserve rules requiring at least 100% backing of issued tokens. Issuers would also be required to guarantee user redemption rights.

Regulators say the framework is designed to prevent failures like the 2022 Terra-Luna collapse, which wiped out roughly $40 billion and had deep ties to South Korea. 

Alongside domestic rules, authorities are drafting standards for cross-border stablecoin transfers and transactions, reflecting growing use of digital tokens in trade and remittances. The effort is being coordinated between the FSC and the Ministry of Economy and Finance.

Global bitcoin ETF implementation

Officials point to global precedents as a key influence. Spot bitcoin ETFs in the U.S. and Hong Kong have seen strong demand, with major asset managers now treating the products as mainstream investment tools. 

Korea’s Financial Intelligence Unit estimates that more than 10 million people are eligible to trade digital assets domestically, underscoring the scale of potential demand.

Beyond private markets, blockchain is also moving into public finance. The government plans to digitize parts of the national treasury using so-called “deposit tokens,” a form of government-linked digital currency distinct from stablecoins, according to reports.

By 2030, up to 25% of treasury operations could be conducted via blockchain-based payments.

Pilot programs are already underway, and lawmakers are reviewing amendments to the Bank of Korea Act and the National Treasury Act to establish a legal foundation for these systems. 

Officials say the goal is faster settlement, lower administrative costs, and improved transparency.

This post South Korea Preparing to Approve Spot Bitcoin ETFs in Crypto Policy Pivot first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Florida Revives Bitcoin Reserve Push With New 2026 Bill

Florida lawmakers have revived a push to put bitcoin on the state’s balance sheet, filing new legislation for the 2026 session that would create a state-run cryptocurrency reserve after a similar effort stalled last year.

House Bill 1039, filed Jan. 7 by Republican Rep. John Snyder, would establish a Strategic Cryptocurrency Reserve Fund that sits outside Florida’s main treasury. 

The proposal authorizes the state’s chief financial officer to invest public funds in digital assets under a set of guardrails that include audits, reporting requirements, and advisory oversight.

The bill marks a reset rather than a clean break. Florida lawmakers floated broader crypto investment proposals in 2025, but those measures were withdrawn after facing resistance over scope and risk. 

The new framework narrows the focus and reflects a growing preference among Republican lawmakers for treating bitcoin as a reserve-style asset rather than a speculative trade.

Under HB 1039, the CFO would have discretion over whether and when to invest. The bill does not mandate a minimum allocation. 

Earlier versions of Florida legislation proposed allowing up to 10% of certain state-managed funds to be invested in bitcoin. While the new bill revives that concept, it leaves deployment decisions to the CFO and places the reserve outside pension and retirement accounts.

The legislation includes requirements for independent audits and the creation of an advisory committee to guide investment strategy and risk management. Supporters say those provisions are meant to address concerns about volatility while still giving the state flexibility to act.

The renewed effort is closely tied to parallel legislation in the Senate. Republican Sen. Joe Gruters, a longtime bitcoin supporter and ally of President Donald Trump, has filed companion bills that lay out the trust structure and funding mechanics for the reserve. 

Together, the House and Senate measures would govern how Florida acquires, holds, and manages any digital assets.

Bitcoin as a financial hedge for Florida

While the bills do not explicitly name bitcoin, they effectively limit eligibility to it. Only digital assets that maintained an average market capitalization of at least $500 billion over the past 24 months would qualify. 

At present, bitcoin is the sole asset that meets that threshold, with a market cap above $1 trillion. Ethereum and other crypto fall well short.

Backers frame the proposal as a hedge rather than a bet. Florida Chief Financial Officer Jimmy Patronis has publicly described bitcoin as “digital gold” and said limited exposure could help diversify state-managed funds over long time horizons. The bill states that the reserve is intended to help protect public assets against inflation and currency debasement.

Florida’s approach mirrors moves in other states that have narrowed their focus to bitcoin after initial attempts to authorize broader crypto exposure. 

New Hampshire became the first state to explicitly allow public funds to be invested in crypto, granting its treasurer authority to allocate up to 5% of certain portfolios. 

Texas approved a small bitcoin ETF purchase in late 2025 as part of its own reserve strategy. 

Wyoming, meanwhile, has passed a slate of laws clarifying the legal status of digital assets without committing public funds.

The proposal also fits within Florida’s broader stance on digital money. In 2023, Gov. Ron DeSantis signed legislation blocking central bank digital currencies from recognition under the state’s commercial code. 

The move positioned Florida as skeptical of federally issued digital money while remaining open to decentralized alternatives like bitcoin.

If passed, Florida would become one of the largest U.S. states to formally experiment with crypto as a reserve-class asset. Supporters argue that a tightly governed reserve could allow the state to gain exposure without putting core public funds at risk. Critics, however, point to bitcoin’s history of sharp price swings and question whether public money should be exposed at all.

HB 1039 and its Senate companions must clear committee hearings and floor votes during the 2026 legislative session. 

The bills include a conditional effective date of July 1, 2026, meaning implementation would only begin if the full legislative package is approved and signed into law.

This post Florida Revives Bitcoin Reserve Push With New 2026 Bill first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Bitcoin Price Teeters Near $90,000 as Early-2026 Rally Falters

Bitcoin hovered just below the $91,000 level today, paring recent gains after an explosive start to the new year that briefly pushed prices toward fresh seven-day highs.

The bitcoin price was trading around $90,815, down roughly 1% over the past 24 hours, according to market data. Daily trading volume stood near $52 billion, while bitcoin’s total market capitalization slipped to about $1.82 trillion, also down around 1% on the day.

The pullback leaves the bitcoin price roughly 3% below its recent seven-day high near $94,700, after prices surged more than 8% in the first days of 2026. That rally carried the bitcoin price above $94,000 earlier this week, fueled by renewed ETF inflows, bullish options positioning and a resurgence of the geopolitical hedge narrative.

Bitcoin’s circulating supply now stands at 19.97 million BTC, inching closer to its fixed cap of 21 million coins.

The latest move marks a pause after bitcoin broke out of a multi-week consolidation range that capped prices through much of December. The $91,000 level, which previously acted as resistance, has now become a key short-term support zone as traders reassess momentum.

Market participants say the retreat reflects profit-taking rather than a decisive shift in trend, particularly after last week’s rapid upside move.

From a technical perspective, a sustained break below $91,000 could expose deeper support near $87,000, while a move back above $94,000 would reopen the path toward resistance in the $98,000–$100,000 range.

Bitcoin price volatility looms ahead of January 9

Beyond near-term technicals, traders are increasingly focused on macro catalysts — particularly a U.S. Supreme Court ruling scheduled for January 9 on the legality of President Donald Trump’s global tariffs.

Prediction markets suggest a high probability the court will strike down the tariffs, a decision that could force the U.S. Treasury to refund as much as $133–$140 billion to importers. Such an outcome could inject volatility across equities, bonds and crypto markets simultaneously.

Bitcoin, which has shown heightened sensitivity to macro and policy shocks, could see sharp price swings depending on how markets reprice fiscal risk and liquidity conditions.

Despite near-term uncertainty, broader bullish signals remain in place. Bitcoin ETFs recently recorded their strongest daily inflows since October, while options markets continue to show heavy positioning for higher prices later in the year.

At the time of writing, the bitcoin price is at $90,860.10.

This post Bitcoin Price Teeters Near $90,000 as Early-2026 Rally Falters first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

BTC Inc Standardizes Bitcoin Operations Using BTCPay Server Across Events, Payroll, and Treasury

BTC Inc, the parent company of Bitcoin Magazine and the organizer of major global Bitcoin conferences, has spent the past several years restructuring its internal operations around Bitcoin-native infrastructure, relying heavily on the open-source BTCPay Server to manage its payments, payroll, and treasury functions.

The effort reflects a broader push by the company to operate on what it describes as a “Bitcoin standard,” using bitcoin not only as a reserve asset but as a primary medium for internal and external transactions. 

Executives and engineers involved in the project say the goal was to eliminate dependence on custodial payment processors, reduce cross-border settlement friction, and create a unified system capable of handling live commerce at speed and scale.

BTCPay Server, a self-hosted and non-custodial Bitcoin payments platform, emerged as the core infrastructure after BTC Inc evaluated multiple third-party payment solutions. 

According to the company, custodial processors introduced counterparty risk and regulatory constraints, while off-the-shelf systems lacked the flexibility needed for global events and payroll coordination.

Conference payments as the first test case

BTC Inc first deployed BTCPay Server at its flagship conferences, where the need for high-throughput, real-time payments was most acute. Events regularly host tens of thousands of attendees and dozens of vendors, often in environments with constrained connectivity and strict operational timelines.

Using BTCPay’s web-based point-of-sale system, vendors were able to accept on-chain and Lightning payments directly to their own wallets. BTC Inc also used BTCPay’s “mark as paid” functionality to record cash and card transactions alongside bitcoin payments, allowing vendors to reconcile all sales through a single interface.

The system was rolled out across four major events between 2024 and 2025, beginning with Bitcoin Asia in Hong Kong and expanding through conferences in Nashville, Abu Dhabi, and Las Vegas. 

Each event served as an iteration point, with the operations team refining vendor onboarding, payment flows, and reporting tools.

Record-setting deployment in Las Vegas

The largest deployment took place at The Bitcoin Conference 2025 in Las Vegas, where BTC Inc integrated BTCPay Server with Lightning-enabled NFC Bolt Cards and optimized point-of-sale infrastructure across the venue. 

On May 28, 2025, the event set a Guinness World Record for the most cryptocurrency point-of-sale transactions completed in eight hours, recording 4,187 transactions.

BTCPay-powered terminals operated alongside traditional Square point-of-sale systems, which had recently added Bitcoin payment support. BTC Inc said the side-by-side deployment demonstrated that Bitcoin-native payment systems could function at the same scale and speed as established fiat infrastructure in high-traffic commercial environments.

Across all conferences, BTC Inc reports more than 5,600 in-person Bitcoin transactions, totaling approximately 2.09 BTC in volume.

Expanding into BTC Inc payroll and vendor payments

Following the conference deployments, BTC Inc extended BTCPay Server into internal finance operations. The company adopted BTCPay’s VendorPay plugin to manage outbound payments to contractors, partners, and employees, many of whom are distributed across multiple jurisdictions.

VendorPay allows payments to be batched, scheduled, and tracked, reducing transaction fees and eliminating delays associated with international bank transfers. 

BTC Inc says it has processed more than $1 million in Bitcoin payouts using the system, without relying on intermediaries or custodial services.

As payment volume increased, the company implemented BTCPay’s native multisignature wallet support to add shared approval controls to treasury management. Transactions now require multiple signatures, with hardware wallets integrated through BTCPay Vault, allowing the company to maintain self-custody while distributing authorization across team members.

Automating Bitcoin accumulation

BTC Inc developed a BTCPay Server plugin known internally as “Bitcoin Stacker” to automatically convert a portion of fiat revenue into bitcoin. The system routes a percentage of Stripe credit card receipts into bitcoin purchases, creating a rules-based dollar-cost averaging process.

Since launching the program in January 2025, BTC Inc says it has accumulated more than 6.5 BTC through automated conversions. The company describes the approach as a conservative treasury policy rather than a speculative strategy, designed to build bitcoin-denominated working capital that can be reused for vendor payments and payroll through BTCPay.

BTC Inc says BTCPay Server has become a core operational tool across events, finance, and treasury functions, citing reduced payment friction, faster settlement, and consistent self-custodial workflows. 

The company also contributed operational feedback that informed improvements to VendorPay and multisignature support.

While aligned with BTC Inc’s long-term view on Bitcoin adoption, the company says the shift has been driven primarily by operational efficiency. 

This post BTC Inc Standardizes Bitcoin Operations Using BTCPay Server Across Events, Payroll, and Treasury first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Bitcoin Price Jumps 8% Into New Year as Bullish Momentum Builds

Bitcoin began 2026 with some renewed strength, climbing roughly 8% since the start of the year as institutional inflows, derivatives positioning and geopolitical developments have come together to lift sentiment across crypto markets.

The bitcoin price is trading near $94,100 today, reaching levels last seen in early December. The price briefly touched an intraday high of $94,352 after opening the year near $87,400 on Jan. 1, per Bitcoin Magazine Pro data.

As of this morning, bitcoin was changing hands around $94,000, according to market data, putting it within 1% of its recent seven-day high.

The rally pushed bitcoin’s market capitalization to roughly $1.87 trillion, with daily trading volume hovering near $51 billion. Bitcoin’s circulating supply stands just under 20 million coins, out of a fixed cap of 21 million.

The move higher followed a period of sideways trading through late December, when the bitcoin price struggled to break above resistance near $91,000. That level has since turned into short-term support, opening the door to a renewed test of the $94,000 – $98,000 range that capped prices for much of the past two months.

Geopolitics and the hedge narrative

Bitcoin’s rebound coincided with weekend reports that the United States had captured Venezuelan President Nicolás Maduro, a development that rippled across commodity and crypto markets. 

Oil stocks jumped on expectations that Venezuela’s energy sector could reopen under new leadership, while crypto-linked equities such as Coinbase and Strategy each rose more than 4%.

Analysts cautioned that the event itself was not a direct catalyst for bitcoin. Instead, it reinforced bitcoin’s role as a hedge against geopolitical pressures and sanctions risk.

“Escalating pressure without direct military conflict is supportive of bitcoin,” said Dean Chen, an analyst at crypto derivatives exchange Bitunix. He pointed to historical patterns in which tighter sanctions, capital controls or restrictions on the global banking system have coincided with increased real-world bitcoin usage.

Bitcoin price options market targets six figures and ETF inflows return

Derivatives markets suggest traders are positioning for further upside. On Deribit, the world’s largest crypto options exchange, open interest has surged in January call options with a $100,000 strike price.

The $100,000 January call has become the most popular contract on the platform, with total notional open interest reaching about $1.45 billion.

Spot bitcoin exchange-traded funds have also reemerged as a key driver. U.S.-listed bitcoin ETFs recorded nearly $700 million in net inflows on Monday, the strongest single-day total since October, according to industry data.

That demand represents more than 7,000 BTC, far exceeding daily new issuance from miners. Sustained ETF buying can tighten available supply and support higher prices, particularly when paired with declining balances on exchanges.

On-chain data shows roughly $1.2 billion worth of bitcoin was withdrawn from exchanges over the past 24 hours, a sign that investors are moving coins into self-custody rather than preparing to sell.

Bitcoin price technical levels

From a technical perspective, bitcoin price’s breakout from a multi-week consolidation has shifted attention to resistance near $98,000. A move above that level could bring the psychological $100,000 mark back into play, a threshold bitcoin failed to hold during late-2025 rallies.

Support for bitcoin price now sits near $91,400, with stronger backing around $87,000 if prices pull back. A failure below $84,000 would weaken the bitcoin price near-term structure, though longer-term bulls argue that rising yearly lows continue to define bitcoin’s broader uptrend.

For now, traders enter the new year with momentum on their side. Whether bitcoin price can turn the early-January surge into a sustained breakout will depend on continued ETF demand, options market dynamics and how global macro risks evolve in the weeks ahead.

This post Bitcoin Price Jumps 8% Into New Year as Bullish Momentum Builds first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Did DOJ Prosecutors Violate Trump’s Executive Order by Selling the Forfeited Samourai Wallet Bitcoin?

It seems that the U.S. Marshall Service (USMS) has sold the $6.3 million worth of bitcoin that Samourai Wallet developers Keonne Rodriguez and William Lonergan Hill paid the U.S. Department of Justice (DOJ) as a fee that was part of their guilty plea.

In doing so, it has potentially violated Executive Order (EO) 14233, which mandates that bitcoin acquired via criminal or civil asset forfeiture proceedings should be held as part of the United States’ Strategy Bitcoin Reserve (SBR).

If the Southern District of New York (SDNY), the federal judicial district in which the Samourai case was to be tried, did, in fact, violate EO 14233, it would not be the first time employees of the SDNY have acted in defiance of direction from the federal government.

What Happened to the Bitcoin?

According to a document titled “Asset Liquidation Agreement”, which has been obtained exclusively by Bitcoin Magazine and has not until now been made public, the bitcoin that Rodriguez and Hill forfeited is to be sold — or already has been.

As per the document, the defendants agreed to transfer $6,367,139.69 worth of bitcoin — 57.55353033 bitcoin at the time the final party signed the agreement, which was Assistant United States Attorney Cecilia Vogelon November 3, 2025 — to the USMS.

The bitcoin, which was sent from address bc1q4pntkz06z7xxvdcers09cyjqz5gf8ut4pua22r on November 3, 2025, seems to have bypassed any direct custody by the USMS. Instead, it seems to have been sent directly to Coinbase Prime address 3Lz5ULL7nG7vv6nwc8kNnbjDmSnawKS3n8 (Arkham Intel attributes this address to the brokerage), presumably to be sold.

This Coinbase Prime address currently has a zero balance, indicating that the bitcoin may have already been sold.

Violating Executive Order 14233

If the USMS has sold the forfeited bitcoin, it likely contravened EO 14233, which orders that bitcoin acquired by the U.S. government via criminal forfeiture, termed “Government BTC” in the EO, “shall not be sold” and should be contributed into the U.S. SBR.

If the USMS sold the bitcoin, they did so at their own discretion and not as a legal mandate, which indicates that certain members of the DOJ may still view bitcoin as a taboo asset to be offloaded as opposed to a strategic asset that President Trump has directed government agencies to retain.

Given that the Samourai prosecution originated under the previous administration, which was notoriously hostile toward noncustodial crypto tools and their developers, the decision to ignore EO 14233 and sell the bitcoin despite a mandate from the executive branch fits a pattern of treating bitcoin as something that should be removed from government balance sheets as soon as possible.

Legal Details Regarding the Forfeiture and Liquidation

According to a legal source close to this matter, the Samourai developers’ forfeited their bitcoin under 18 U.S. Code § 982(a)(1), which stipulates that any offense that violates 18 U.S. Code § 1960, the statute that prohibits the operation of unlicensed money transmitting businesses, orders that person to forfeit to the United States any property involved in the offense.

Judging by § 982 and its incorporation of 21 U.S.C. § 853(c), a criminal forfeiture statute that stipulates that “property that is subsequently transferred to a person other than the defendant may be the subject of a special verdict of forfeiture and thereafter shall be ordered forfeited to the United States,” the bitcoin that Rodriguez and Hill forfeited fits the EO’s definition of “Government BTC”.

Neither § 982 nor the incorporated § 853 requires that property that is forfeited as part of a criminal offense be liquidated. Furthermore, the fund forfeiture statutes cited in section three of the EO — 31 U.S.C. § 9705 and 28 U.S.C. § 524(c) — regulate where forfeiture proceeds are deposited and how they may be used; they do not require that forfeited bitcoin be converted to cash rather than held in kind.

The EO also stipulates that “Government BTC” falls under the umbrella of “Government Digital Assets” and states that “the head of each agency shall not sell or otherwise dispose of any Government Digital Assets” except in certain scenarios, none of which apply in the Rodriguez or Hill cases and, in all of which, the U.S. attorney general would play a role in determining what should be done with the forfeited digital assets.

The Sovereign District of New York

When taking EO 14233 and the statutes cited in this article into account, the SDNY seems to have acted in a manner that defies the EO 14233’s mandate to transfer bitcoin obtained via criminal forfeiture to the U.S. SBR.

This would not mark the first time that the SDNY has acted in such a manner. 

The judicial jurisdiction, sometimes colloquially referred to as “Sovereign District of New York,” has earned a reputation for operating independently and unilaterally, despite being part of a federal system.

The fact that the SDNY proceeded with the cases against Rodriguez and Hill as well as the case against Tornado Cash developer Roman Storm, is further evidence of this.

On April 7, 2025, Deputy Attorney General Todd Blanche issued a memo entitled “Ending Regulation By Prosecution” in which he stated “the Department [of Justice] will no longer target virtual currency exchanges, mixing and tumbling services, and offline wallets for the acts of their end users…”

The SDNY seemed to disregard the language in this memo, though, as it proceeded with the Samourai Wallet or Tornado Cash cases.

And when the defense team for Hill and Rodrguez learned as per a Brady request that two high-ranking members of the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) “strongly suggested” that Samourai Wallet wasn’t serving as a money transmitter due to the noncustodial nature of the service, the prosecution proceeded anyway.

When it comes to criminal cases tried within the federal court system, over 90% of defendants are convicted and sentenced, with as little as 0.4% being acquitted some years. And the prosecution for SDNY cases has a reputation for having an even higher win rate.

Rodriguez was aware of these statistics, as well as the fact that Judge Denise Cote, the judge who presided over his and Hill’s cases, has a reputation for harsh sentencing.

He told me as much the morning before he pleaded guilty to the conspiracy to operate an unlicensed money transmitter business charge.

Is the War on Crypto Really Over?

Many Bitcoin and crypto proponents who voted for President Trump in 2024 as well as the crypto industry, which supported the president in his reelection, are now beginning to question whether or not President Trump really does want to see an end to the war on crypto.

For this to happen, the DOJ under President Trump must honor what is mandated in EO 14233 and follow Deputy Attorney General Blanche’s guidance to stop prosecuting developers of noncustodial crypto technology.

To the latter point, President Trump recently stated that he is considering a pardon for Rodriguez.

His pardoning Rodriguez as well having the DOJ look into why it sold the bitcoin that the Samourai developers forfeited would send a signal that the president is quite serious about his pro-Bitcoin and pro-crypto stance.

This post Did DOJ Prosecutors Violate Trump’s Executive Order by Selling the Forfeited Samourai Wallet Bitcoin? first appeared on Bitcoin Magazine and is written by Frank Corva.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Why MSCI’s Upcoming Decision on Bitcoin Treasury Companies Matters

In a move that could shape corporate Bitcoin adoption, index provider MSCI is set to decide whether to exclude companies holding significant Bitcoin reserves from its global benchmarks. The outcome, due January 15, may influence billions in forced selling and set precedents for how Wall Street views Bitcoin as a treasury asset.

MSCI Inc., a New York-based publicly traded company listed on the NYSE with a market capitalization of $43.76 billion and a stock price of $565.68 as of January 2, is a key player in the investment world. It curates over 246,000 equity indexes daily, with more than $18.3 trillion in assets under management benchmarked to them. These indices serve as blueprints for funds and portfolios, helping investors gain exposure to specific market segments.

Unlike the NASDAQ, which operates as both a stock exchange where companies list and trade and a composite index tracking those listings, MSCI focuses solely on index creation. The S&P 500, managed by S&P Dow Jones Indices, is similarly an index but targets the 500 largest U.S. companies by market cap. MSCI’s offerings, such as the MSCI World Index covering developed markets, provide broader global and thematic coverage, influencing trillions in investment decisions.

The issue began on October 10, 2025, when MSCI issued a consultation proposal to exclude companies with 50% or more of their assets in digital assets like Bitcoin or other cryptocurrencies from its Global Investable Market Indexes. The rationale: such firms operate more like funds than traditional businesses. The proposal named 39 companies, including Bitcoin holders like Strategy and Metaplanet. The announcement triggered an immediate market reaction, with Bitcoin experiencing a sharp intraday plunge of roughly $12,000 on the same day, marking the start of a broader price correction.

Broader awareness grew in late November 2025, when JPMorgan analysts highlighted the risks in a report, estimating $2.8 billion in outflows from Strategy alone and up to $8.8 billion if other index providers followed suit. This may have amplified selling pressure on affected stocks and contributed to Bitcoin’s ongoing pullback amid a broader market downturn. Estimates of total forced selling, if implemented, range from $10 billion to $15 billion over a year, per Bitcoin for Corporations (BFC) analysis.

The consultation period, open for stakeholder feedback, closed on December 31, 2025. BFC, a coalition accelerating corporate Bitcoin adoption, mobilized quickly. They launched a website detailing the proposal’s flaws, including a technical appendix outlining potential market impacts. BFC drafted a letter opposing the change, gathering over 1,500 signatures in two weeks and delivering it to MSCI on December 30. Eight of the 39 affected companies are BFC members.

After initial outreach, BFC held a call with MSCI’s head of research and leadership. “We had a very constructive conversation,” said George Mekhail, BFC’s executive director. “I think they were very much still in a listening and learning posture. I think a lot of this just really has to do with a lack of education and understanding of Bitcoin itself, as well as these Bitcoin treasury companies and the significance of their operating businesses.”

Mekhail noted the proposal appeared driven by genuine analytical concerns rather than malice, triggered by Metaplanet’s recent preferred share issuance, not Strategy’s larger holdings. A key gap: MSCI made no distinction between Bitcoin and other cryptocurrencies, treating all digital assets alike. This has fostered temporary alignment between Bitcoin advocates and the broader crypto sector in opposition, highlighting an ongoing education gap between the Bitcoin industry and Wall Street institutions.

Next, MSCI announces its decision on January 15, 2026. If approved, exclusions take effect February 1. Mekhail outlined three scenarios: implementation (worst case, forcing sales), a delay for further review (most likely, per his assessment), or full withdrawal (best case). Polymarket bettors currently give a 77% chance of Strategy’s delisting from MSCI by March 31.

Most financial fallout would hit Strategy, which holds the vast majority of affected Bitcoin treasuries. Founder Michael Saylor’s firm has engaged MSCI directly, issuing its own letter and working behind the scenes. Other opposition includes letters from Strive Asset Management and investor Bill Miller.

Industry pushback has been robust and visible, with no major groups publicly supporting the proposal. This asymmetry underscores Bitcoin’s organized, motivated constituency versus dispersed critics, echoing dynamics in recent political shifts like the 2024 U.S. election.

A withdrawal would boost corporate Bitcoin strategies; implementation could deter treasuries. As Mekhail put it, “The most bullish outcome is that they take it to heart and they withdraw the proposal.” The decision tests Wall Street’s adaptation to Bitcoin’s role in balance sheets.

Bitcoin Magazine is wholly owned by BTC Inc., which operates Bitcoin For Corporations, a platform focused on corporate adoption of Bitcoin. BFChas a variety of relationships with Bitcoin businesses, including some of those mentioned in this article. 

This post Why MSCI’s Upcoming Decision on Bitcoin Treasury Companies Matters first appeared on Bitcoin Magazine and is written by Juan Galt.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Turkmenistan Legalizes Crypto Mining and Exchanges Under Tight State Control

Turkmenistan just legalized crypto mining and exchanges this year, marking a sharp policy shift for one of the world’s most closed economies and fulfilling legislation that was accepted in November, 2025. 

President Serdar Berdimuhamedov signed the Law on Virtual Assets, bringing digital assets under civil law for the first time. The legislation creates a licensing regime for miners, exchanges, and custodial services overseen by the Central Bank of Turkmenistan.

Cryptocurrencies will not yet be recognized as legal tender, currency, or securities. They cannot be used to pay for goods or services. The law defines virtual assets strictly as “property or investment instruments.”

The move stands out in a country known for tight state control. Turkmenistan maintains strict internet censorship and limited access to foreign platforms. Entry rules for foreigners have long been among the world’s toughest.

The government says the law is meant to support economic development and attract foreign capital. Turkmenistan’s economy depends heavily on natural gas exports. China is its main buyer.

Authorities are also advancing a pipeline project linking Turkmenistan to Afghanistan, Pakistan, and India.

Turkmenistan’s new crypto rules

Under the new framework, both individuals and companies may mine cryptocurrencies. All miners must register with the central bank and meet technical standards. Covert mining practices, including cryptojacking, are banned.

Crypto exchanges and custodians are also permitted to operate with a license. Domestic and foreign entities may own these services, except firms linked to offshore jurisdictions. 

Exchanges must enforce know-your-customer and anti–money laundering rules. Anonymous wallets and transactions are prohibited.

The law divides virtual assets into secured and unsecured categories. Secured assets are backed by underlying property. Unsecured assets include bitcoin and similar tokens. None carry payment status under Turkmen law.

Supervision will extend beyond the central bank. The Cabinet of Ministers and the Ministry of Finance and Economy will monitor compliance. Regulators retain the power to suspend or revoke licenses for violations.

The legislation passed parliament in November and came into force on January 1, 2026. It follows earlier steps toward limited digital opening. Turkmenistan introduced an electronic visa system last year to ease entry for foreigners.

Central Asia has emerged as a testing ground for crypto policy. Kazakhstan became a major bitcoin mining hub after China’s 2021 crackdown. Kazakhstan said they are preparing to establish a national cryptocurrency reserve fund worth between $500 million and $1 billion

Pakistan launched a national virtual assets authority in 2025.

Turkmenistan remains one of the least visited countries in the world. Its media environment is tightly managed. Internet access is limited.

This post Turkmenistan Legalizes Crypto Mining and Exchanges Under Tight State Control first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Unregistered Bitcoin Mining in Russia May Soon Come With Up to Two Years of Forced Labor

Russia is preparing to escalate its crackdown on unregistered cryptocurrency mining, proposing criminal penalties that include forced labor and prison sentences, little more than a year after formally legalizing the industry.

The Ministry of Justice on Monday published draft amendments to the Criminal Code that would reclassify many forms of illegal crypto mining from an administrative offense into a criminal one. 

The proposal comes amid widespread noncompliance with the regulatory framework that took effect in 2024, following President Vladimir Putin’s signing of mining legislation last summer.

Although mining was legalized to bring the fast-growing sector out of the shadows, authorities say most operators continue to avoid registration and taxation. Deputy Finance Minister Ivan Chebeskov said in June that only about 30% of miners had registered with the Federal Tax Service, leaving the majority operating in what officials describe as a “gray zone.”

Harsh penalties for illegal mining in Russia

Under the draft law, individuals who mine cryptocurrency without proper registration could face fines ranging from 500,000 to 1.5 million rubles, or up to two years of forced labor. Courts would also be allowed to impose up to 480 hours of compulsory labor in less severe cases.

Harsher penalties are reserved for large-scale or organized operations. Mining that generates “significant” or “especially large” income, or that involves coordinated groups, could result in fines of up to 2.5 million rubles, forced labor for up to five years, or prison sentences of similar length. 

Equipment confiscation and additional financial penalties would remain possible.

Russia’s current framework distinguishes between small-scale and commercial miners. Individuals consuming less than 6,000 kilowatt-hours of electricity per month are classified as private persons and may mine without entering the special register, though they must pay personal income tax on mined cryptocurrency. 

Larger commercial miners and infrastructure operators are required to register in Russia, submit monthly production reports, and comply with regional restrictions.

Authorities say enforcement has proven difficult. Illegal mining operations, often linked to electricity theft or activity in restricted regions, have continued to strain local power grids. 

Regions in Russia have reported outages tied to unregistered mining, prompting temporary bans during periods of peak winter demand. Officials estimate that illegal operations consume billions of kilowatt-hours annually.

Previous measures, including fines of up to 2 million rubles and equipment seizures, have failed to curb the activity. Law enforcement actions have included arrests of utility employees accused of facilitating illegal mining and the shutdown of large-scale farms.

The draft amendments were published on Dec. 30 and are open for public consultation. 

This post Unregistered Bitcoin Mining in Russia May Soon Come With Up to Two Years of Forced Labor first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Bitcoin Price Struggles at $88,000 as Thin Holiday Trading Stalls Year-End Rally

The bitcoin price hovered below $90,000 near $80,000 today as traders made another late push to recover year-end losses during thin holiday trading, but the market again lacked the conviction needed for a sustained breakout.

The bitcoin price stood at $88,063 at the time of writing, up about 1% over the past 24 hours, according to market data. Trading volume totaled roughly $40 billion, reflecting muted participation as December draws to a close. 

Bitcoin is now about 1% below its seven-day high of $89,201 and roughly 1% above its seven-day low of $86,855.

The world’s largest cryptocurrency has a circulating supply of 19,969,296 BTC, with a hard cap of 21 million coins. Bitcoin’s total market capitalization is approximately $1.76 trillion, up 1% from a day earlier.

Bitcoin pushed toward the $90,000 level yesterday for a second straight session before the rally stalled once again. Price action remains confined to a broad range between roughly $85,000 and $95,000, a structure that has defined the market since a sharp October sell-off. 

That drawdown followed Bitcoin’s all-time high in early October, when prices were up nearly 30% on the year.

Since then, sentiment has shifted. The bitcoin price is now down about 5% from last December, putting it on track for its first annual loss in three years.

“I’d continue to expect exaggerated moves on light flow through New Year’s,” Jasper De Maere, desk strategist at Wintermute, said in a note to Bloomberg.. He cautioned traders against relying too heavily on short-term signals until liquidity returns to normal levels.

The recent price stagnation contrasts with the broader recovery in traditional risk assets. Bitcoin began the year with a strong rally fueled by optimism around crypto-friendly policies under the second Trump administration. 

That enthusiasm faded as uncertainty surrounding President Donald Trump’s tariff agenda rattled global markets.

Bitcoin price battling with leveraged traders

While U.S. equities have largely rebounded from those shocks, Bitcoin has struggled to regain momentum. The October downturn was compounded by a wave of liquidations after leveraged positions reached record levels. On Oct. 10, a sharp sell-off flushed out long exposure and reset market positioning.

Demand for spot Bitcoin exchange-traded funds has also weakened. According to data by Bloomberg, ETF outflows have reached roughly $6 billion in the fourth quarter, adding steady pressure as Bitcoin failed to reclaim the $90,000 threshold.

Holiday trading conditions have further distorted price action. Earlier this week, the bitcoin price swung sharply around $90,000 during low-liquidity sessions, posting fast gains and losses that lacked follow-through.

Prices briefly rose about 2.6% during thin trading and held above $86,000 over the week, but again failed to sustain levels above $90,000 during Asian hours.

QCP Capital said recent moves reflect a market short on participation. In a note, the firm pointed to a steep decline in derivatives activity following last Friday’s record options expiry. Open interest dropped by nearly 50%, signaling that many traders moved to the sidelines.

That options expiry also altered short-term market dynamics. According to QCP, dealers who were long gamma ahead of the event are now short gamma on the upside. In such conditions, rising prices can force hedging activity that amplifies short-term moves, particularly when liquidity is thin.

A similar setup emerged earlier this month when the bitcoin price briefly approached $90,000. Funding rates climbed quickly as traders crowded into bullish positions, creating short-lived upward pressure. 

Deribit’s perpetual funding rate surged above 30% following the latest expiry, up from near-flat levels beforehand. Elevated funding rates often indicate overheated positioning and raise the cost of maintaining long exposure.

From a technical perspective, Bitcoin Magazine analysts said the market continues to reject lower levels within a broadening wedge pattern, suggesting downside momentum is weakening. Key resistance sits at $91,400 and $94,000. A weekly close above $94,000 could open a path toward $101,000 and $108,000, though resistance remains heavy.

On the downside, $84,000 remains critical support. A break below that level could send the bitcoin price toward the $72,000 to $68,000 range.

This post Bitcoin Price Struggles at $88,000 as Thin Holiday Trading Stalls Year-End Rally first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

David Beckham’s Prenetics Stops All Bitcoin Purchases, Pivots Money to Wellness Brand

Prenetics Global Limited said it has ended its bitcoin purchasing program and will redirect its capital and strategic focus entirely toward IM8, its fast-growing consumer health and longevity brand co-founded with David Beckham.

The Nasdaq-listed health sciences company said it ceased daily bitcoin purchases on Dec. 4, following approval from its board of directors, and will not pursue future acquisitions of the cryptocurrency. 

Prenetics will retain its existing holdings of 510 bitcoin as a treasury reserve asset but has committed not to allocate any new or existing capital toward expanding that position.

The move marks a clear shift away from a strategy the company adopted earlier this year, when several public firms began accumulating bitcoin as a treasury asset during a rising market. That trend has slowed in recent months as cryptocurrency prices weakened and investor focus returned to core operating businesses.

Prenetics said the decision reflects the rapid growth of IM8, which it described as the fastest-growing supplement brand in the industry’s history. 

The company said IM8 surpassed $100 million in annualized recurring revenue within 11 months of launch and is projected to generate between $180 million and $200 million in revenue in fiscal year 2026.

“The phenomenal success of IM8 has exceeded all expectations and scaled much faster than our original expectations,” said Danny Yeung, Prenetics’ chief executive officer and co-founder. He said management and the board agreed that concentrating resources on IM8 offered the clearest path to long-term shareholder value.

Prenetics said it remains in a strong financial position, with more than $70 million in cash and cash equivalents, zero debt, and its existing bitcoin holdings intact. The company said that balance sheet strength gives it flexibility to fund IM8’s next phase of growth without relying on external financing.

Under the revised capital allocation strategy, Prenetics said funds will be directed exclusively toward IM8’s operations and expansion. 

That includes product development, brand marketing, talent acquisition, working capital, and international growth initiatives. The company framed the shift as an effort to sharpen strategic clarity and reinforce disciplined governance.

IM8 markets an all-in-one nutritional supplement aimed at simplifying daily health routines. The brand has been promoted by Beckham and tennis world number one Aryna Sabalenka, and Prenetics has leaned heavily into celebrity-backed branding as it scales the business globally.

Prenetics’ decision comes as bitcoin struggles

The decision to halt bitcoin purchases comes as the digital asset market faces a period of weaker sentiment. 

Bitcoin has struggled to regain momentum after a sharp downturn earlier in the year, and several companies that adopted crypto-heavy treasury strategies have seen their share prices come under pressure. 

Against that backdrop, Prenetics’ move stands out as a reversion toward a more traditional operating focus.

When the company announced its bitcoin accumulation strategy in June, Yeung spoke about the potential overlap between healthcare innovation and blockchain technology. 

Six months later, the company’s tone has shifted, with management emphasizing execution, revenue growth, and consumer demand.

Prenetics said it believes the updated strategy aligns the company more closely with shareholder priorities as IM8 continues to scale. While bitcoin will remain on the balance sheet, the company made clear it will no longer play a central role in its capital deployment plans.

Shares of Prenetics were little changed following the announcement. At time of writing, shares were at $16.42 a share.

Bitcoin is currently trading at $88,626, up 1% over the past 24 hours on $39 billion in volume, with a market cap of about $1.77 trillion.

The price sits near the top of its weekly range, roughly 1% below the seven-day high and 2% above the seven-day low, with nearly 19.97 million BTC currently in circulation.

This post David Beckham’s Prenetics Stops All Bitcoin Purchases, Pivots Money to Wellness Brand first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Bitcoin Price Struggles to Break $90,000 as One-Month Battle Continues

The bitcoin price continued to swing around the $90,000 level during thin holiday trading, rising and falling in sharp moves that lacked any volume needed for a sustained breakout.

The world’s largest cryptocurrency rose about 2.6% during low-liquidity sessions and held above $86,000 over the week, but was unable to sustain its $90,000 level in Monday’s Asian trading hours, according to market data. 

At time of writing, the bitcoin price was trading at $87,465 on Tuesday, with a 24-hour volume of about $52 billion and little change over the past day. 

The cryptocurrency sits roughly 3% below its recent day high of $90,230, with a market capitalization of about $1.75 trillion based on a circulating supply of nearly 20 million BTC, according to Bitcoin Magazine Pro data.

QCP Capital said the move lacks the participation required to push prices decisively higher. In a note, the firm pointed to a sharp drop in open interest following last Friday’s record options expiry. Open interest fell by nearly 50%, signaling that many traders stepped to the sidelines.

Options are affecting market positioning

The record options expiry marked a turning point in market structure. Dealers who were long gamma ahead of the event are now short gamma to the upside, QCP said. In this setup, rising prices force dealers to hedge by buying spot bitcoin or short-dated call options.

That dynamic can amplify price moves and create a feedback loop during bitcoin price rallies.

QCP said a similar pattern emerged earlier this month when the bitcoin price briefly traded near $90,000. Funding rates rose quickly as dealers adjusted positions, contributing to short-term upward pressure.

Deribit’s perpetual funding rate climbed to more than 30% following the expiry, up from near flat levels earlier. Elevated funding rates increase the cost of maintaining long positions and often reflect crowded bullish trades.

Heavy activity was seen in the BTC-2JAN26-94K call option during the latest rally attempt. QCP said a move above $94,000 could extend the gamma-driven buying, but stressed that a breakout would require sustained spot demand.

The firm said that without any real volume, upside moves risk fading.

The macro backdrop is adding market volatility

Bitcoin’s recent push toward $90,000 earlier coincided with rising oil prices after renewed attacks on energy infrastructure in Russia and Ukraine dampened hopes for a near-term peace deal. Higher energy prices added to inflation concerns across global markets.

The bitcoin price traded higher in Asian hours as geopolitical uncertainty grew but gave back all gains in early U.S. hours. 

Longer term, supporters continue to frame bitcoin as a hedge against fiscal imbalances. U.S. national debt has climbed to about $37.65 trillion, according to official data.

Bitcoin price has critical support at $84,000

According to Bitcoin Magazine analysts, the broader bitcoin market continues to reject lower levels within a broadening wedge pattern, suggesting downside momentum is weakening. Bulls now need to build on this defense by breaking resistance at $91,400 and, more importantly, $94,000 to regain control. 

A weekly close above $94,000 could open the door to a move toward $101,000 and potentially $108,000, though heavy resistance is expected along the way. 

On the downside, $84,000 remains critical support. A breakdown there would likely send the bitcoin price toward the $72,000–$68,000 range, with deeper losses possible below $68,000. 

Short-term liquidity may remain thin during the current holiday period, but large options expiries near $100,000 could influence price action. 

Overall sentiment remains cautious, per the analysts, with bulls showing resilience but still needing confirmation.

At the time of writing, the bitcoin price is near $87,000. Over the Christmas holiday sessions, bitcoin bounced between $86,000 and $90,000.

This post Bitcoin Price Struggles to Break $90,000 as One-Month Battle Continues first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Strategy Reloads on Bitcoin, Buys 1,229 BTC for $109 Million

Strategy, the largest publicly traded holder of bitcoin, has resumed accumulating bitcoin, purchasing 1,229 coins for approximately $108.8 million during the week ended December 28.

The acquisition was made at an average price of $88,568 per bitcoin and lifts the company’s total holdings to 672,497 BTC, according to a regulatory filing released today. Strategy has now spent roughly $50.44 billion acquiring bitcoin at an average cost basis of $74,997 per coin.

The latest purchase was funded through the sale of 663,450 shares of Class A common stock under the company’s at-the-market (ATM) equity program, generating $108.8 million in net proceeds.

Strategy said it did not sell any preferred securities during the period and retains substantial capacity for future issuances.

Strategy had paused bitcoin purchases the prior week after bolstering its U.S. dollar reserves to roughly $2.2 billion, signaling continued flexibility in timing its market entries.

At press time, bitcoin was trading near $87,200, slightly below Strategy’s most recent purchase price, following a volatile session that saw BTC briefly push above $90,000 before reversing lower. Despite the pullback, Strategy’s bitcoin holdings are valued at nearly $59 billion, leaving the firm with more than $8 billion in unrealized gains.

Shares of Strategy (MSTR) slipped about 1% in premarket trading to around $156.51, mirroring bitcoin’s drop. The stock is now down roughly 45% year-to-date, reflecting both bitcoin’s volatility and investor sensitivity to Strategy’s leveraged exposure to BTC.

According to disclosed data, Strategy recorded a year-to-date bitcoin yield of 23.2% in 2025, reinforcing its long-term accumulation strategy. The company has not reported any bitcoin sales since adopting BTC as its primary treasury reserve asset.

Strategy’s near $2 billion in bitcoin buys

In the first two weeks of December, Strategy sharply ramped up its bitcoin accumulation, executing back-to-back purchases totaling nearly $2 billion as BTC prices pulled back toward the $90,000 level, at the time. 

Between Dec. 1 and Dec. 14, the company acquired 21,269 bitcoin across two consecutive weeks, first buying 10,624 BTC for about $963 million at an average price of $90,615, followed by 10,645 BTC for roughly $980 million at an average price of $92,098. 

These marked Strategy’s largest weekly purchases since mid-2025. 

At the time of writing, the bitcoin price is trading at $87,300 after being up over $90,000 in the last 24 hours.

This post Strategy Reloads on Bitcoin, Buys 1,229 BTC for $109 Million first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Stablecoins: Evolution, not a Revolution

Technologies tend to have a natural ceiling built into their utility and popularity. Once they’ve solved all the problems they can solve, their growth is effectively capped. As soon as all potato fans own a potato peeler, the peeler market’s growth potential is largely tapped out. Indeed, the big question around AI at the moment is how many problems it will be able to solve. The market could already be overblown, or it could be practically limitless.

What about stablecoins? They’ve grown from practically nothing at the turn of the decade to a market cap in the mid-12 digits and monthly transaction volumes in excess of $1 trillion. Citigroup expects the aggregate stablecoin market cap to hit around $2 trillion by the end of the decade. 

If we’re talking trillions, it sounds much more like AI than potato peelers.

But do stablecoins have a natural limit? Is their utility restricted to a certain range of problems? If so, where is it? How far can stablecoins grow, and what might stop them?

In order to find answers to these questions, let’s recall why stablecoins have come so far already, what will limit their future growth, and what that means for their overall utility, i.e. the range of problems they can solve.

Why Stablecoins Gained Market Traction

Three reasons for stablecoins’ current popularity stand out.

Stable Prices, Low Volatility

The first reason is price stability. Many cryptocurrencies are volatile, which makes them valuable for speculation but awkward to use as everyday currencies. The value of stablecoins is, well, stable. By definition. Price stability is their fundamental value proposition.

Price stability is also arguably an advantage relative to other cryptocurrencies whose value is perpetually expected to rise. If your coins’ value will double in five years, you might be reluctant to spend them now. But if your coins will be worth the same or even a little less in five years, you better spend them before they burn a hole in your pocket.

Greater Portability 

The second is portability. Exchanging fiat for crypto can be arduous, but exchanging one crypto for another is usually much easier. So many users find it more efficient to convert fiat into stablecoins in bulk, then easily shift value between various cryptocurrencies as needed. USDT is the most traded coin overall because it works so well on the other side of any crypto trade.

In many markets, these first two factors reinforce each other. Many countries’ national currencies depreciate more rapidly than stablecoins’ pegged currencies, so stablecoins give people in those countries a way to protect their wealth from depreciation. And those same countries often use currency controls to prevent capital flight, but their citizens can often access stablecoins to circumvent those artificial barriers.

Tax Optimization

The third reason is simply taxes. Many jurisdictions — including the United States, Canada, the United Kingdom, Japan, and Australia — classify cryptocurrencies as commodities rather than currencies. As a result, capital gains taxes apply to cryptocurrency price appreciation, so each transaction can be a taxable event. But many users and businesses might want to use crypto for its portability, like payment rails, so stablecoins’ price stability helps them avoid taxable events during routine payments.

You Can’t Copy State Money without State Rules

Fiat currency is the modern state’s crown jewel. Beyond a national currency’s symbolic value, controlling the source of everyone’s money is a very advantageous position. For an impression of what a big deal this can be, rewatch Ridley Scott’s Black Rain (it’s a great rewatch for any reason, not least of which is Michael Douglas rockin’ a killer mullet). 

If stablecoins are minting hundreds of billions of fiat equivalents and moving trillions in value each month, the state is going to take a very close interest in what they’re doing and how. You can’t open your own private mint moving that kind of liquidity and hope to stay under the regulatory radar.

Besides, history shows that states will regulate whatever they can. They have to. Any activity they cannot regulate implicitly threatens their claim to authority, and they don’t actually produce anything (besides perhaps regulation), so they need to acquire resources. In order to take their cut from an activity, states have to first quantify and control (i.e. regulate) that activity. This is the kind of argument that led Charles Tilly, one of the last century’s most respected historical sociologists, to call states “protection rackets” and “organized crime.”

Centralized activity is also why states preferred tariffs over taxes until pretty recently. Back when bureaucracies were small and populations were spread out, states found it very hard to tax income. They didn’t have the data to quantify it nor the technology to control it. So they preferred tariffs because there are far fewer ports and bridges than there are households and shops. 

In other words, the more centralized an activity is, the easier it is to quantify and control (and skim of course). More concisely: centralization attracts regulation. And the more central an activity is to state power, the more incentive the state has to regulate it, and printing money is about as central as it gets.

Stablecoins are no exception. They are centralized both in terms of the source of their value and in their actual operations, which is why regulators have been busy churning out rules lately. While that regulation might even be necessary and wise, it does and will limit stablecoins’ utility.

Rules, Their Effects, and Extrapolating the Future

The supply of regulation has increased a lot recently, but maybe it’s just meeting demand. In fact, Tether and Circle, the two biggest stablecoin issuers, are getting involved in the regulatory process with different strategies. They’re aware of their position as private USD mints and companies that take large amounts of private deposits and reinvest them (i.e. banks). Mature stablecoin issuers seem to want regulation.

The regulators themselves argue that stablecoin regulation is a good thing because it protects users and gives issuers “more predictable regulatory environments.” Not surprisingly, this is the view of the SEC. 

And this reasoning is not without merit. Companies managing hundreds of billions in liabilities should be able to meet those liabilities, and maybe someone should check. But the existing regulations have added some massive obstacles to where and how people can use stablecoins.

Let’s start with Europe, because regulatory legalese is the EU’s official language. The Markets in Crypto-Assets Regulation (MiCA) is the key stablecoin regulatory measure in Europe. It became law in 2023, but the consequences only really struck in Q1 2025. Since MiCA requires stablecoin issuers to obtain an e-money license in at least one European state, major exchanges like Binance and Coinbase delisted nine leading stablecoins, including USDT, the biggest stablecoin of all. (Of course, a consortium of nine too-big-to-fail European banks is trying to launch their own euro-pegged stablecoin.) 

MiCA was a regulatory nuke, practically banning leading stablecoins and seeking to replace them with astroturfed European alternatives.

Somewhat more friendly to experimentation and innovation, the USA has implemented the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. GENIUS is a little more permissive in that the Treasury Department can determine that foreign stablecoin issuers are subject to sufficient regulation at home, sparing them the need for a local US presence. It also prescribes a few particulars like reserve requirements and public disclosure. 

While the GENIUS Act formally restricts issuers and protects users, it also makes issuers subject to the Bank Secrecy Act to prevent money laundering. As anyone knows who’s ever bought crypto on an exchange, AML and KYC are significant friction, and they effectively restrict how holders can use stablecoins. Eliminating exactly that friction was one of the features that made stablecoins attractive in the first place. Greater consumer protection might increase stablecoins’ utility in the long-term aggregate, but a user who wants to buy and trade USDT right now might disagree.

And while the EU and the USA are arguably the most important markets for stablecoins, many other markets either have regulations in place (e.g. Japan, Canada, Chile) or in the pipeline (e.g. the UK, China, Australia, Brazil, Turkey). 

Imagine a giant Venn diagram of all these regulatory regimes, and stablecoins’ utility is in the space where they all overlap and the activity remains economical. How big is that space? And given that stablecoins are pegged to national currencies, which national administrations guard jealously, are these already diverse regulatory regimes likely to converge or diverge in the future?

The denser the jungle of regulations, the smaller and more isolated the clearings where stablecoins can flourish. They will still have a niche, but some niches are more niche than others. It’s unlikely that any stablecoin, based on a national or even regional fiat currency, will satisfy all the regulators in all the markets necessary to become a global currency. That’s probably why real-world stablecoin usage ends up being far more geographically constrained than the “global digital dollars” many hoped for. Even USDT, the most widely used stablecoin, operates at scale in only a few permissive jurisdictions. With roughly 40% of USDT’s market cap and an effectively identical product, USDC faces the same structural limits.

Good as Far as They Go, but Bitcoin Can Go Farther

So stablecoins are centralized fiat tokens. Being centralized and tethered to state fiat means that regulators are grasping them tightly, resulting in cost and friction for everyone involved. This process is already well underway and will continue. Does this mean that stablecoins are doomed?

Probably not. As tokenized fiat, stablecoins are likely to thrive wherever fiat is good enough. In practice, that means conventional payments. I recently defined payments as instructions to clear a debt. Wherever an intermediated quid pro quo describes the interaction, stablecoins will probably work as the quid. Indeed, the potential to capture some of the payment business from other fintech solutions (or to defend their own) is probably why established fintech players like Klarna, PayPal, and Stripe have launched their own stablecoins or stablecoin accounts. Stablecoins are turning into normal payment fintech, but maybe just normal payment fintech.

Normal means subject to state regulations and the functional and geographic limits they impose. It means juicy fees going to intermediaries. It means friction for users. 

But there is a whole universe of value that eludes the payment model either because it requires direct, disintermediated transfers, it disregards political geography, there is no debt involved, or all of the above. The potential for value transfer is sometimes hard to see because the balkanized, intermediated payment paradigm is so dominant. We’ve simply lacked the technology to do much else until recently.

Still, whenever you toss some coins to a busker or tip a content creator, you’re pushing value, not clearing debt. Whenever cash moves from hand to hand, the transfer is disintermediated. Now imagine the busker is on the other side of the globe, and you discovered them through an app. The key to perceiving the rest of that value-transfer universe is to bring that directness and borderlessness into our digital world.

Value transfer needs less friction than fiat in both a technical and regulatory sense. But to achieve that, you’d need a currency that is detached from national currencies and decentralized. That’s where bitcoin comes in. Bitcoin is an open, decentralized, neutral monetary network that works for anyone, anywhere, anytime. If stablecoins have to get by in the clearings of the regulatory jungle, bitcoin floats breezily and limitlessly in the sky above.

Bitcoin was built on and for the internet, so it is natively programmable in ways that stablecoins can only vaguely approximate. And far from needing third-party custodians, bitcoin transfers are direct and disintermediated between the millions of users everywhere. The future stablecoins promise without much credibility is already the present for bitcoin.

It’s Easier to Win the Race without Hurdles

Utility is one of the central concepts in economics because it’s the mystic substance of decision making. People choose what they find most useful, and you know what’s most useful because it’s what people have chosen.

People are using stablecoins, which proves their utility. That usefulness isn’t going to go away, but regulation limits it. Stablecoins’ growth will stop where their utility is roughly matched by the friction that regulation induces. And the current state and probable future of regulation suggest that we’re getting pretty close to this equilibrium.

But since Bitcoin is not centralized and does not feed off state-based fiat currency, it is inherently harder to regulate and consequently attracts much less regulation. It’s also digitally native, which makes it a natural fit for a world of global commerce and value that flows frictionlessly across borders from one app anywhere to another. If regulation is what limits stablecoins’ utility and bitcoin is subject to much less regulation, it’s pretty clear who’s going to win the utility race. 

This is a guest post by Roy Sheinfeld from Breez. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

This post Stablecoins: Evolution, not a Revolution first appeared on Bitcoin Magazine and is written by Roy Sheinfeld.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Russia Opens the Door to Bitcoin and Crypto for Retail Investors

The Bank of Russia has set out a new framework to regulate cryptocurrencies, proposing tiered access that would allow everyday investors to buy digital assets alongside professional market participants, while maintaining tight controls on risk and usage.

In a concept paper released Tuesday and submitted to the government for review, the central bank said both qualified and non-qualified investors would be permitted to acquire crypto assets, but under different rules, limits and testing requirements. 

The move marks another step in Russia’s gradual shift toward accommodating digital assets as sanctions reshape financial flows and market infrastructure.

Earlier this year, the Bank of Russia moved to allow domestic banks to conduct limited crypto operations under strict oversight. First Deputy Chairman Vladimir Chistyukhin said the central bank, while maintaining a conservative stance on assets like bitcoin, no longer sees a justification for fully excluding banks from such activity. 

It was also reported that Russia was using bitcoin to settle some oil trades with China and India, routing payments through intermediaries to bypass Western sanctions. 

So with that said, the current proposal maintains the central bank’s long-standing caution toward cryptocurrencies, which it continues to classify as high-risk instruments. 

The Bank of Russia warned that crypto assets are not issued or guaranteed by any jurisdiction, are subject to sharp price swings, and carry elevated sanctions and operational risks. Investors, it said, must fully accept the possibility of losing their funds.

A $3,800 cap for Russia’s retail investors

Under the framework, non-qualified, or retail, investors would be allowed to purchase only the most liquid cryptocurrencies, based on criteria to be defined in legislation. 

Access would be conditional on passing a knowledge test, and purchases would be capped at 300,000 rubles (around $3,800) per year through a single intermediary.

Qualified investors would face fewer constraints. They would be permitted to buy any cryptocurrency without transaction limits, provided they pass a test confirming their understanding of the risks. However, anonymous cryptocurrencies—defined as tokens whose smart contracts conceal information about transaction recipients—would remain off-limits.

Digital currencies and stablecoins would be formally recognized as monetary assets under the proposal, meaning they could be bought and sold. 

Their use as a means of domestic payment within Russia would remain forbidden, reinforcing the central bank’s position that crypto should not function as an alternative to the ruble in everyday transactions.

Cryptocurrency trading would take place through existing licensed infrastructure. Exchanges, brokers and trustees would be able to offer crypto services under their current authorizations, while additional requirements would apply to specialized crypto depositories and exchangers.

The framework also allows Russian residents to buy cryptocurrencies abroad using foreign accounts and to transfer previously acquired crypto overseas through Russian intermediaries. Such transactions would require notification to the tax authorities.

Beyond cryptocurrencies, the proposal extends to digital financial assets (DFAs) and other Russian digital rights, including utilitarian and hybrid instruments. Their circulation on open networks would be permitted, a move intended to help issuers attract foreign investment and give investors access to DFAs on terms comparable to crypto assets.

The Bank of Russia aims to complete the legislative framework by July 1, 2026. From July 1, 2027, it plans to introduce liability for illegal activity by crypto intermediaries, aligned with penalties for illegal banking operations.

At the time of writing, Bitcoin is trading at $87,555, with a 24-hour trading volume of $47 billion, down 3% over the past day.

The price stood about 3% below its seven-day high of $90,069 and roughly 1% above its seven-day low of $87,096. Bitcoin’s circulating supply was 19,965,971 coins out of a maximum supply of 21 million, giving the network a global market capitalization of about $1.75 trillion, down 3% from 24 hours earlier.

This post Russia Opens the Door to Bitcoin and Crypto for Retail Investors first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Bitcoin Price Outlook: Bulls Target $94,000 Break for Momentum Into New Year

Last week, bulls needed to hold closes above $85,000 to stave off the bears, and they managed to do just that. Bitcoin price dropped to support once again last week, and the bulls defended it well, pushing the price back up to close the week out at $88,656. The price on the weekly chart has been rejecting from the lower trend line of the broadening wedge pattern for several weeks now, but the trend line is so low now that the price should push above it this week. If it fails to do so this week, look for the price to take the next leg down into the low $70,000 range.

Key Support and Resistance Levels Now

Bulls will want to continue the push this week, level by level if need be. Initial resistance sits at $91,400, with the next level at $94,000. Above here, we should see very strong resistance at $98,000. Then we should see a fairly strong resistance zone from $101,000 all the way up to $108,000. Closing above $108,000 would start to place severe doubts on the long-term top being in place here.

The $84,000 support level below is proving to be resilient, holding up again this past week. If it is lost, the expected support levels below have not changed. The $72,000 to $68,000 zone should be expected to support the price on a first test at the least. Closing below $68,000 likely leads to a slow grind down to the 0.618 Fibonacci retracement support at $57,000.

Outlook For This Week

The bears may be getting a little flustered with their recent failure to break support. This week, look for the bulls to push back a bit harder as they gain some confidence after holding support once again. Market liquidity should be low for Christmas week, so price movement may be lacking. There are some very large long-dated bitcoin options expiring on December 26th, however, with a max pain price of $100,000, so look for the price to try to push closer to the $100,000 level this week.

Market mood: Bearish – Bulls are pushing back a little here, but they still need to prove it to the bears with some positive price action.

The next few weeks
Bulls held back the bears from breaking down major support last week. If the bulls can finally manage to take out resistance at $94,000 over the next couple of weeks, they may be able to sustain some upward momentum into the new year as well. So if we see a weekly close above $94,000, look for the price to move towards $101,000. This momentum could continue to $108,000 with a close above $100,000. Resistance becomes extremely thick near this level, though, so a strong rejection near this level should be expected if we can make it there over the coming weeks.

Terminology Guide:

Bulls/Bullish: Buyers or investors expecting the price to go higher.

Bears/Bearish: Sellers or investors expecting the price to go lower.

Support or support level: A level at which the price should hold for the asset, at least initially. The more touches on support, the weaker it gets and the more likely it is to fail to hold the price.

Resistance or resistance level: Opposite of support.  The level that is likely to reject the price, at least initially. The more touches at resistance, the weaker it gets and the more likely it is to fail to hold back the price.

Broadening Wedge: A chart pattern consisting of an upper trend line acting as resistance and a lower trend line acting as support. These trend lines must diverge away from each other in order to validate the pattern. This pattern is a result of expanding price volatility, typically resulting in higher highs and lower lows.

Fibonacci Retracements and Extensions: Ratios based on what is known as the golden ratio, a universal ratio pertaining to growth and decay cycles in nature. The golden ratio is based on the constants Phi (1.618) and phi (0.618).

This post Bitcoin Price Outlook: Bulls Target $94,000 Break for Momentum Into New Year first appeared on Bitcoin Magazine and is written by Ethan Greene – Feral Analysis and Juan Galt.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Bitcoin Price Will Jump to $143,000 Next Year, Says Citi Bank

The bitcoin price could climb to $143,000 next year as continued adoption through exchange-traded funds and a more accommodating U.S. regulatory backdrop draw new capital into the market, according to a new forecast from Citi.

Analysts at the Wall Street bank set $143,000 as their base-case target for the bitcoin price over the next 12 months. They outlined a bullish scenario that places the price above $189,000, while their bearish case sees the bitcoin price falling to around $78,500 if macroeconomic conditions deteriorate, according to MarketWatch reporting.

The bitcoin price was trading near $88,000 on Friday, down roughly 30% from its late-October peak. The pullback followed a sharp wave of selling after the rally earlier this year, though Citi noted that outflows from spot bitcoin exchange-traded funds have moderated in recent weeks.

“Our forecasts, in particular for bitcoin, rest on an assumption that investor adoption continues with flows into ETFs of $15 billion boosting token prices,” the analysts wrote. The note was led by Alex Saunders, Citi’s head of global quantitative macro strategy.

Citi also pointed to potential regulatory clarity in the United States as a key driver of future demand. The U.S. Senate is negotiating its own version of the House-passed Clarity Act, legislation that would place bitcoin under the oversight of the Commodity Futures Trading Commission. The analysts said clearer rules could encourage broader institutional participation.

The bank’s bearish scenario assumes recessionary pressures and weaker appetite for risk assets. The bitcoin price fell to multi-month lows in November as concerns over high technology valuations and broader macro risks weighed on markets. 

The cryptocurrency shed more than $18,000 that month, marking its largest dollar decline since May 2021 amid heavy investor withdrawals.

Banks are embracing bicoin

Two weeks ago, the Bank of America told its wealth management clients to allocate 1% to 4% of their portfolios to digital assets, signaling a major shift in its approach to Bitcoin exposure. 

The move allowed over 15,000 advisers across Merrill, Bank of America Private Bank, and Merrill Edge to proactively recommend crypto to clients.

Last week, PNC Bank launched direct spot bitcoin trading for eligible Private Bank clients, allowing them to buy, hold, and sell bitcoin natively through its own digital banking platform without using an external exchange. The move was powered by Coinbase’s Crypto-as-a-Service infrastructure.

Bitcoin price analysis

Bitcoin’s latest sell-off underscores a market stuck in consolidation, where positive macro catalysts fail to translate into sustained upside. 

After briefly testing $89,000 on cooler-than-expected U.S. inflation data, bitcoin slid back toward the $84,000 range, extending a correction now entering its second month. The pattern has become familiar: sharp, data-driven rallies followed by quick retracements as sellers defend resistance below $90,000.

Macro signals offer mixed support. November CPI eased to 2.7% year over year, with core inflation at 2.6%, strengthening the case for eventual Federal Reserve rate cuts in 2026. That backdrop helped spark the intraday rally. Yet rising U.S. unemployment and uneven job growth complicate the outlook, reinforcing expectations that the Fed will move cautiously. Markets appear reluctant to price in aggressive easing.

A key drag remains U.S.-listed spot Bitcoin ETFs, which have shifted from consistent inflows to net redemptions. The outflows remove a stabilizing bid that previously absorbed sell pressure, making breakouts harder to sustain even on positive news.

Technically, the bitcoin price is range-bound. Resistance sits just below $90,000, while support near $84,000 is weakening. A decisive break lower could open a move toward the $72,000–$68,000 zone, where analysts expect stronger demand.

Extreme fear readings suggest potential undervaluation, but near-term momentum still favors sellers.

At the time of writing, the bitcoin price is dancing around the $88,000 level.

This post Bitcoin Price Will Jump to $143,000 Next Year, Says Citi Bank first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Bitcoin Price Crashes to $84,000 – Is $70,000 Next?

The bitcoin price dropped sharply today after a brief pump near $90,000, sliding to $84,544 as the price sell-off continued into its second month. 

Bitcoin lost 2% over the past 24 hours. It remains 5% below its seven-day high of $89,220 and hovers near the week’s low of $84,596. Trading volume reached $56 billion. Bitcoin’s market capitalization stands at $1.69 trillion. The circulating supply is roughly 19.96 million BTC out of a total 21 million, according to Bitcoin Magazine Pro data. 

The drop follows a brief rally that earlier saw the Bitcoin price test $89,000. The surge came after the U.S. released new Consumer Price Index data. Inflation rose 2.7% year over year in November, lower than expected. Core CPI, which excludes food and energy, fell to 2.6%, the lowest since early 2021.

Bitcoin jumped from intraday lows near $86,000 to challenge $89,000. Traders viewed the cooler inflation report as a potential signal for looser Federal Reserve policy in 2026. CME FedWatch data suggested slightly higher odds of a rate cut by March, though January moves remain unlikely.

The rally did not last. The bitcoin price failed to break $90,000 and slid to $84,4000. This pattern is familiar: sharp spikes followed by quick retracements.

What’s dragging down the bitcoin price?

A persistent challenge is U.S.-listed spot Bitcoin ETFs. These funds, once a major source of demand, have seen net redemptions. The outflows remove institutional support that previously helped stabilize the price. Without consistent ETF inflows, breakouts above $89,000 are harder to sustain.

Other economic indicators add uncertainty. Recent labor market data showed U.S. unemployment rising to 4.6%, its highest since 2021. Job growth remains uneven. The mixed signals complicate Federal Reserve policy, suggesting a cautious approach despite easing inflation.

Political factors add to market complexity. President Donald Trump has publicly urged lower interest rates and suggested nominating a Fed chair favoring aggressive easing. Markets have largely treated the comments as noise, but the statements add a variable to the macro picture.

Technically, the bitcoin price is consolidating rather than trending. Resistance forms just below $90,000. Supply above this level remains strong, held by investors who bought during prior rallies. 

Analysts at Bitwise recently suggested Bitcoin could break its historical four-year cycle. The firm noted BTC might reach new all-time highs in 2026 with lower volatility and reduced correlation to equities.

The Bitcoin Fear and Greed Index currently sits at 17/100, signaling extreme fear. Historically, readings in this range have coincided with undervaluation. Contrarian investors see potential buying opportunities, though sentiment remains cautious.

Is $70,000 next? 

Technical analysts from Bitcoin Magazine wrote earlier this week that the $84,000 support level is under pressure. If the bitcoin price falls below this point, it could test the $72,000 to $68,000 zone. Initial bounces are expected, but a break below $84,000 could trigger faster declines toward $70,000.

Bitcoin’s price may drop to the $72,000–$68,000 support zone after breaking the $84,000 level, with bears currently in control. A strong bounce is likely from that lower zone, potentially retesting $84,000, though the 4-Year Cycle suggests further downside could occur later in 2026.

Resistance extends from $94,000 to $118,000. Bulls will need substantial buying volume to break above these levels, per Bitcoin Magazine analysts. 

Short-term momentum favors sellers. Last week, the Bitcoin price closed the weekly candle in red, failing to sustain gains near $94,000. Bears are well-positioned to push prices lower this week. 

At the time of writing, the bitcoin price is $84,812. Trading volume reached $56 billion. Bitcoin’s market capitalization stands at $1.69 trillion. The circulating supply is roughly 19.96 million BTC out of a total 21 million, according to Bitcoin Magazine Pro data. 

This post Bitcoin Price Crashes to $84,000 – Is $70,000 Next? first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

BitGo Enables Lightning Network Payments Directly from Custody

BitGo, a digital asset infrastructure company, announced it now offers Bitcoin Lightning Network access directly from its qualified custody platform. The move makes it one of the first companies to provide Lightning payments for institutional custody.

The service aims to give clients faster and cheaper Bitcoin transactions while keeping institutional security standards intact. It builds on BitGo’s earlier self-custody Lightning solution.

The new offering is powered through a partnership with Voltage, a Lightning Network infrastructure provider. Clients can now use Lightning without running their own nodes or managing keys. BitGo and Voltage handle infrastructure, channels, liquidity, and key management.

Through simple APIs, clients can create wallets, send payments, generate invoices, and track transactions. The platform integrates fully with BitGo’s existing wallet infrastructure, policies, and permissions.

Enterprises adopting Lightning usually face challenges like maintaining nodes, channels, liquidity, and keys. BitGo removes these hurdles. Institutions can now access Lightning with minimal setup and zero operational overhead.

BitGo, along with Ripple, Circle, Fidelity Digital Assets, and Paxos, received conditional approval from the OCC to become federally chartered national trust banks.

This shift from state to federal oversight allows them to offer nationwide fiduciary and digital asset custody services, enhancing regulatory clarity, institutional confidence, and the mainstream adoption of cryptocurrencies.

Lightning Network hits an all-time high

This move comes as Bitcoin’s Lightning Network hits a new all-time high of 5,637 BTC in capacity, driven largely by institutional inflows even as broader user adoption and node growth lag. 

Data from AMBOSS shows the surge, concentrated in November and December, surpasses the previous peak from March 2023, signaling renewed confidence among major exchanges like Binance and OKX, which have added significant BTC to Lightning channels.

 Despite rising capacity, the network’s number of nodes and channels remains below historical highs, highlighting a gap between capitalization and widespread use. 

The increase coincides with ecosystem developments, including Tether’s $8 million investment in Lightning-focused startup Speed and Lightning Labs’ release of Taproot Assets v0.7, enabling reusable addresses, auditable asset supplies, and larger, more reliable transactions. 

These upgrades position the Lightning Network as more than a micropayment system, offering potential for higher-value transfers that leverage Bitcoin’s security, speed, and low fees while expanding real-world financial applications on the network.

“By offering institutional access to Lightning directly from custody, we are allowing our clients to focus on innovation instead of infrastructure,” said Mike Belshe, BitGo CEO and co-founder. “We are combining the speed and lower transaction costs of Lightning with the trusted security of BitGo to make bitcoin practical for everyday payments.”

This post BitGo Enables Lightning Network Payments Directly from Custody first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Bhutan Pledges Up to 10,000 Bitcoin to Build New Mega-City

Bhutan has committed up to 10,000 bitcoin to support the long-term development of Gelephu Mindfulness City (GMC), marking one of the most ambitious sovereign uses of bitcoin for national infrastructure and economic development to date.

The Himalayan kingdom unveiled the Bitcoin Development Pledge this week, allocating a portion of its sovereign bitcoin holdings — valued at roughly $860 million to $1 billion at current prices — to back the new special administrative region in southern Bhutan. 

Officials emphasized that the allocation is intended to preserve capital over the long term rather than fund near-term spending through asset sales.

Instead, Bhutan is exploring mechanisms such as collateralized lending, treasury and yield strategies, and intentional long-term holding to finance infrastructure and development while maintaining exposure to bitcoin’s potential appreciation. 

Final decisions on how the assets will be deployed are expected in the coming months, according to the government.

Gelephu Mindfulness City is central to Bhutan’s broader effort to diversify its economy beyond hydropower and tourism, while remaining aligned with the country’s development philosophy centered on sustainability and social well-being. 

The project, launched in 2024, is designed as a future economic hub focused on finance, technology, green energy, healthcare, agriculture, and high-value tourism.

The city spans roughly 1,544 square miles — about 10% of Bhutan’s territory — near the Indian border.

Bitcoin as a commitment to Bhutan’s youth

King Jigme Khesar Namgyel Wangchuck announced the bitcoin commitment during his National Day Address, framing it as a generational investment aimed at creating quality jobs and opportunities for Bhutan’s youth.

“As your King, I must ensure that every Bhutanese is a custodian, stakeholder, and beneficiary of GMC,” he said. “This commitment is for our people, our youth, and our nation.”

A new land policy associated with the project will treat landowners as shareholders in the city’s development, ensuring citizens across all regions share in the economic upside. Since much of the land involved is state-owned, the government says the benefits will be broadly distributed nationwide.

Bhutan’s bitcoin holdings stem from years of state-backed mining operations powered by surplus hydroelectric energy. Beginning around 2019–2020, the country quietly converted excess renewable power into digital assets, positioning itself as one of the earliest sovereign bitcoin miners. Officials say the strategy allows Bhutan to monetize unused energy capacity without increasing environmental impact.

Estimates of Bhutan’s total bitcoin reserves vary by analytics provider, ranging from roughly 6,000 to more than 11,000 BTC, placing the kingdom among the world’s largest sovereign bitcoin holders. 

The bitcoin pledge builds on a broader national blockchain strategy already underway. Bhutan has rolled out crypto-enabled payments across its tourism sector through partnerships with DK Bank and Binance Pay, allowing visitors to pay with more than 100 digital assets at hotels, airlines, and local merchants. More than 100 tourism-related businesses now accept crypto payments.

The country has also introduced TER, a sovereign-backed digital token reportedly supported by physical gold reserves, and recently anchored its national digital identity system on Ethereum, enabling nearly 800,000 citizens to access public services through blockchain-based verification.

GMC itself has designated bitcoin and two other crypto as strategic reserve assets, making it one of the earliest jurisdictions to formally hold multiple cryptocurrencies at the municipal or regional level. 

Green Digital Ltd., the infrastructure firm leading GMC’s development, is focused on green energy-powered data centers and blockchain infrastructure as part of the city’s long-term vision.

Earlier this month, Bhutan also entered a multi-year partnership with Cumberland DRW to support bitcoin reserve management, sustainable mining expansion, and broader digital asset infrastructure, including potential stablecoin initiatives.

At current bitcoin prices, 10,000 BTC would be worth $877,500,000.

CoinDesk reporting helped with the background of this article.  

This post Bhutan Pledges Up to 10,000 Bitcoin to Build New Mega-City first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Celebrating One Year of Hashrate Redirect™: How Abundant Mines Redefined Uptime and Protected Millions in Client Bitcoin Rewards

Hood River County, Oregon – December 16th, 2025 – This month last year, Abundant Mines quietly began to launch a feature that would go on to change how the bitcoin mining industry defines performance. Today, the company is celebrating the one-year anniversary of Hashrate Redirect, a pioneering system that ensures clients continue earning bitcoin even when their machines are offline.

For too long, mining providers have misled customers with uptime metrics that measure whether a facility has power, not whether a machine is actually hashing. A rig could be powered off, broken, or awaiting repairs and still count toward a provider’s claimed “98% uptime.” The result is lost bitcoin, lost revenue, and lost trust.

Abundant Mines set out to correct this.

“When we introduced Hashrate Redirect a year ago, we didn’t make a big announcement. We simply built the solution we wished had existed when we were clients,” said Beau Turner, Co-Founder and CEO of Abundant Mines. “Twelve months later, the results speak for themselves: our clients continue earning even when their machines are offline, and the industry standard for uptime is shifting toward truth and transparency.”

A Year of Real Results: Uptime That Actually Means Performance

Instead of measuring uptime by whether a building has power or not, Abundant Mines measures rig uptime – the percentage of time an individual machine is hashing and producing bitcoin. When a rig goes offline for repairs, RMA, or maintenance, Hashrate Redirect replaces the lost hashrate with hash from Abundant Mines’ operational fleet.

The loss of hash is tracked immediately, and the redirection happens within days, not at the end of the month or year. The result is a continuous bitcoin revenue stream for clients, even during downtime.

Over the past year, Hashrate Redirect has:

• Protected clients from hours of lost earnings
• Redirected hashrate for machines without interruption
• Preserved significant bitcoin rewards that would otherwise have been missed.

“Hashrate Redirect is simple but powerful,” said Turner. “We give you hash, not cash. Because you’re not mining for credits or refunds, you’re here to earn bitcoin and help secure the network.”

Why Timing Matters: Capturing Bitcoin’s Full Value

Bitcoin’s value is time-sensitive. Block rewards are issued every 10 minutes, and once they’re gone, they’re gone forever. If a rig is offline during a price surge or halving cycle, the lost opportunity can compound into significant missed revenue.

By replacing hashrate continuously, not with delayed end- of -year credit, or even end-of-month credit, Abundant Mines ensures that clients capture the full earning potential of every block, especially during high-value market windows.

“With bitcoin’s price climbing and the network becoming more competitive, uptime precision isn’t just a technical detail. It is the difference between winning and falling behind,” said Turner. “Hashrate Redirect makes sure our clients stay ahead.”

Why Weekly Hashrate Matters More Than One-Time Credits

Most mining providers only offer compensation for downtime once or twice a year, often in the form of a one-time hashrate allocation or bill credit. On paper, this may seem like a fair solution. In reality, it is too little and far too late.

Bitcoin rewards are not static. They are distributed every 10 minutes, and their value changes constantly based on market price and network difficulty. If your machine is offline for weeks or months, those missed rewards cannot be recreated later – even if a provider offers you a lump sum or short burst of extra hashrate at the end of the year.

Abundant Mines takes a different approach. With Hashrate Redirect, we replace any downtime with hashrate from our personal fleet. This means you continue earning bitcoin on a rolling basis, staying aligned with market conditions and capturing opportunities in real time.

This approach matters because:

• Missed blocks are missed forever. Once they’re mined, they cannot be recreated later.
• Network difficulty volatility impacts rewards. Weekly redirection ensures you maximize bitcoin earnings, so that you are not punished for hashing later when difficulty has risen significantly.Compounding matters. Bitcoin earned earlier can be held, deployed, or compounded, creating significantly greater long-term value.

“Timing is everything in bitcoin mining,” said Turner. “By replacing hashrate weekly instead of issuing delayed payouts, we ensure our clients never miss the most valuable moments to earn.”

Setting a Higher Standard

One year after launch, Hashrate Redirect has become more than a feature. It is a new benchmark for performance and a reflection of Abundant Mines’ commitment to transparency, accuracy, and client protection.

“Mining should mean performance, not just power,” Turner said. “Hashrate Redirect has proven that principle for a full year, and we are only getting started.”

About Abundant Mines

Abundant Mines is a premium bitcoin mining and energy infrastructure company based in Oregon. Committed to transparency, reliability, and impact, Abundant Mines designs, builds, and operates advanced mining facilities that align energy abundance with digital value creation. Its mission is to make bitcoin mining more accessible, more dependable, and more profitable for individuals and institutions worldwide.

Media Contact:

[email protected]

www.abundantmines.com 

This post Celebrating One Year of Hashrate Redirect™: How Abundant Mines Redefined Uptime and Protected Millions in Client Bitcoin Rewards first appeared on Bitcoin Magazine and is written by Bitcoin Magazine.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Bitcoin Treasury Companies Are Undervalued

Bitcoin treasury companies have been hit hard by Bitcoin’s disappointing price action throughout 2025. Publicly traded firms holding significant BTC reserves are suffering the most, with leaders like (Micro)Strategy pushing aggressive accumulation amid headwinds—yet most now trade below net asset value, creating a rare opportunity for risk-tolerant strategic investors.

The Bitcoin Treasury Companies Landscape

Not all Bitcoin treasury companies are created equally. Strategy stands apart as the industry standard-bearer, the “Bitcoin among treasury companies,” as it were. The company has maintained its accumulation discipline even as its stock has suffered, recently announcing a $1.44 billion USD reserve specifically designed to pay dividends and debt obligations without forcing Bitcoin sales.

This capital buffer theoretically eliminates the need for excessive dilutive share issuance or forced BTC liquidation, a critical distinction from weaker competitors. Many will likely face shareholder pressure and potential forced selling as their stock prices decline, creating a cascade of supply pressure that could paradoxically benefit the strongest players like MSTR.

Valuation Dynamics of Bitcoin Treasury Companies

The most compelling aspect of current treasury company valuations is that they now trade below net asset value on a per-share basis. In practical terms, you can currently purchase one dollar’s worth of Bitcoin for less than one dollar through treasury company stock. This represents an arbitrage opportunity for investors, though one accompanied by elevated volatility and company-specific risks.

Strategy currently sits at a net asset value premium of less than 1, meaning the company’s market capitalization is below the value of its Bitcoin holdings alone. The upside scenario is striking. If Bitcoin reclaims its previous all-time high around $126,000, Strategy continues accumulating toward 700,000 BTC, and the market assigns even a modest 1.5x to 1.75x net asset value premium, Strategy could approach the $500 region per share.

From Weak to Strong: The Future of Bitcoin Treasury Companies

Examining Strategy’s performance during the previous Bitcoin bear market and overlaying it onto the current cycle reveals eerie alignment. The bar patterns suggest current price levels represent reasonable support, with only a catastrophic final flush justified by Bitcoin weakness providing reason to expect substantially lower levels.

As weaker treasury companies face forced selling, a consolidation thesis emerges, that Strategy and similar strong-positioned players will potentially accumulate cheap Bitcoin from distressed sellers, further concentrating holdings in the most disciplined accumulators. This dynamic mirrors Bitcoin’s own consolidation process, weaker hands sell, stronger hands accumulate, and the asset becomes more concentrated among conviction holders.

Conclusion: Opportunity in Bitcoin Treasury Companies

Bitcoin treasury companies have for the most part delivered disappointing returns in 2025, but this performance has created a window of exceptional opportunity for disciplined investors. At current valuations, Strategy is essentially selling one dollar of Bitcoin for approximately 90 cents, a discount that becomes even more attractive if Bitcoin experiences one final capitulation flush. The probability of this scenario combined with Strategy’s positioned upside creates asymmetric risk-reward worthy of small, carefully-sized positions within aggressive portfolios.

For deeper data, charts, and professional insights into bitcoin price trends, visit BitcoinMagazinePro.com. Subscribe to Bitcoin Magazine Pro on YouTube for more expert market insights and analysis!

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions.

This post Bitcoin Treasury Companies Are Undervalued first appeared on Bitcoin Magazine and is written by Matt Crosby.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Bitcoin Price Bleeds Below $89,000 After Grim Weekend 

Bitcoin price endured another grim weekend, bleeding from the low-$92,000 range on Thursday to weekend lows near $87,000 as thin liquidity and sell pressure weighed on risk appetite.

The move below $90,000 came during typically illiquid Sunday trading, amplifying downside volatility as traders positioned cautiously ahead of a dense slate of U.S. economic data and central bank events this week.

At the lows, the bitcoin price was down roughly 7% on the month, continuing a choppy consolidation that has defined price action since October’s all-time high, per Bitcoin Magazine Pro data.

Broader crypto markets showed little sign of strength. 

Major altcoins including Solana, XRP, Dogecoin and Cardano continued to slide, extending double-digit monthly losses and reinforcing bitcoin’s dominance near 57% of total crypto market capitalization. Volumes remained muted, reflecting a lack of conviction rather than outright capitulation.

Macro overhangs remain front and center. In the U.S., traders are bracing for employment data, inflation prints, PMI readings and Fed commentary that could reshape rate expectations. 

Globally, attention is turning to Japan, where the Bank of Japan is widely expected to raise rates later this week — an event that could pressure yen-funded carry trades that have helped support risk assets, including bitcoin, over the past year.

Technically, analysts are watching the mid-$80,000s closely. A sustained break below that zone could invite a deeper correction, while holding it would reinforce the idea that the bitcoin price remains range-bound rather than entering a new bear phase.

How low will the Bitcoin price go? 

Despite the uneasy backdrop, some of the loudest bearish calls are running far ahead of the data. Bloomberg Intelligence strategist Mike McGlone warned this week that the bitcoin price could collapse as much as 90% from its peak, potentially revisiting $10,000 in a future deflationary downturn. 

The forecast echoes prior bearish calls and comes as leveraged long positions continue to unwind, with roughly $230 million in bitcoin longs liquidated over the past 24 hours.

On-chain data, however, tells a far more nuanced story.

Bitcoin Magazine Pro’s Price Forecast Tools — built on network fundamentals rather than sentiment — suggest the market is trading below fair value, not on the brink of structural collapse. 

Aggregated indicators such as CVDD, Balanced Price and the Bitcoin Cycle Master currently point to a fair market value near $106,000, with long-term downside risk clustering closer to the $80,000 range rather than anywhere near five figures.

Historically, these metrics have aligned closely with cycle tops and bottoms, offering a framework that cuts through short-term noise. 

While macro conditions will continue to dictate volatility, on-chain signals suggest the current drawdown looks more like late-cycle consolidation than the start of a generational unwind.

At the time of writing, the bitcoin price is $89,317.

This post Bitcoin Price Bleeds Below $89,000 After Grim Weekend  first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Coinbase is About to Launch Prediction Markets and Tokenized Stocks: Report

Coinbase is reportedly preparing to launch its own prediction markets, powered by U.S.-based operator Kalshi, in a move that could expand the types of assets available on the exchange amid cooling investor interest in cryptocurrencies, according to reporting from Bloomberg and CNBC.

The announcement is expected to come next week, coinciding with Coinbase’s “Coinbase System Update” showcase on Dec. 17. While the exchange declined to confirm specifics, it encouraged users to tune into the livestream for updates.

Rumors of the new prediction markets have been circulating for nearly a month. In mid-November, tech researcher Jane Manchun Wong shared a screenshot of what appeared to be Coinbase’s prediction markets dashboard. 

The Information first reported the planned launch on Nov. 19, and Bloomberg later cited a source saying the event would also feature the rollout of tokenized stocks.

Coinbase as an ‘everything’ exchange

Coinbase’s moves align with CEO Brian Armstrong’s long-stated vision of building an “everything exchange” — a single platform offering access to crypto tokens, tokenized equities, and event-based contracts. 

Armstrong told investors in May that Coinbase aims to become a leading financial services app within the next decade.

The exchange is accelerating these initiatives amid rising competition from firms such as Robinhood, Gemini, and Kraken

Over the past year, these platforms have expanded tokenized stock offerings outside the U.S. and explored prediction markets, reflecting growing demand for alternative trading instruments.

The timing also comes as investor sentiment toward digital assets has cooled. A wave of liquidations in highly leveraged positions in mid-October triggered a crypto market pullback, prompting some investors to shift capital into safer assets. 

For Kalshi, the partnership marks another step in its strategy to integrate event contracts into mainstream trading platforms. 

Earlier this year, the company embedded its prediction markets into Robinhood, and it is reportedly in discussions with other brokers, including those in crypto, to expand its reach.

Prediction markets let users speculate on outcomes ranging from elections to sports games, and they have grown increasingly popular over the past year. Traditional exchanges and crypto platforms alike are now exploring them as a new way to engage traders. 

Gemini recently received approval to roll out its own prediction markets, while Crypto.com has partnered with the Trump Media & Technology Group on similar initiatives.

Coinbase’s planned in-house tokenized stock offerings would put it on par with competitors like Robinhood and Kraken, which currently offer similar products outside the U.S.

This post Coinbase is About to Launch Prediction Markets and Tokenized Stocks: Report first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Five Crypto Firms Win Conditional Approvals as National Trust Banks, Including Fidelity and BitGo

The U.S. Office of the Comptroller of the Currency (OCC) has granted conditional approvals for five digital asset firms — Ripple, Circle, Fidelity Digital Assets, BitGo, and Paxos — to become federally chartered national trust banks, marking a major milestone in the integration of cryptocurrency into traditional finance.

The approvals, announced Friday, allow the firms to convert from state-level trust charters to federal status, subject to meeting the OCC’s conditions. 

Once finalized, these institutions will join roughly 60 other national trust banks regulated by the OCC, gaining the ability to offer fiduciary and custody services nationwide. 

Unlike larger national banks, trust banks cannot accept cash deposits or make loans, but they can hold and manage customers’ digital assets.

‘Huge news’ for crypto

Circle, issuer of the $78 billion USDC stablecoin, said the charter would enhance the safety and regulatory oversight of its reserves while enabling fiduciary digital asset custody for institutional clients.

CEO Jeremy Allaire emphasized that the federal charter would provide “greater clarity and confidence” to institutions building on Circle’s platform as stablecoins gain mainstream adoption.

Paxos, known for PYUSD and the consortium-backed Global Dollar (USDG), said federal oversight would allow businesses to issue, custody, trade, and settle digital assets with clarity and confidence. 

The firm, which has operated under a New York Department of Financial Services (NYDFS) charter since 2015, first applied for a federal charter in 2020.

BitGo, a South Dakota–based crypto custodian, said the federal charter would allow it to expand services nationwide, including trading, staking, stablecoin, and treasury offerings for institutions. BitGo has also filed to go public, reporting $4.19 billion in revenue for the first half of 2025, up from $1.12 billion during the same period in 2024.

The approvals reflect a broader trend toward federal oversight of digital assets, coming after Anchorage Digital became the first federally chartered crypto bank in the U.S. Other firms, including Coinbase, Bridge (owned by Stripe), and Crypto.com, have also applied for federal charters.

OCC Comptroller Jonathan V. Gould emphasized that new entrants into the federal banking sector benefit consumers, foster competition, and promote innovation.

 “The OCC will continue to provide a path for both traditional and innovative approaches to financial services to ensure the federal banking system keeps pace with the evolution of finance and supports a modern economy,” Gould said.

This post Five Crypto Firms Win Conditional Approvals as National Trust Banks, Including Fidelity and BitGo first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

9 Ways MSCI’s Proposed Digital Asset Rule Could Undermine Index Neutrality

A major rule change is being considered by MSCI, one of the most influential index providers in global markets. If adopted, it would materially alter how public companies that hold digital assets—particularly Bitcoin—are classified and included in major equity indexes.

For companies, investors, asset managers, and anyone who depends on index-based benchmarks, this proposal raises fundamental questions about how markets define operating businesses and what role balance sheets should play in index eligibility.

Join the call for MSCI to withdraw its digital asset exclusion rule.

Here’s what’s at stake—and why it matters.

1. MSCI Is Proposing a New 50% Balance-Sheet Threshold

At the center of the proposal is a simple rule:

If digital assets make up 50% or more of a company’s total assets, that company would be excluded from MSCI’s Global Investable Market Indexes.

MSCI’s rationale is that crossing this threshold allegedly changes the company’s “primary business,” making it more fund-like rather than operational.

This single ratio would override all other indicators of what the company actually does.

2. The Proposal Misclassifies Operating Companies as Investment Funds

The core objection is straightforward:
holding Bitcoin on a balance sheet does not transform an operating company into an investment fund.

• Operating companies generate revenue from products and services
• They employ people, invest in R&D, and serve customers
• Treasury assets exist to support long-term capital strategy

By contrast, investment funds exist solely to manage portfolios for return.

Treating these two structures as equivalent—based on a balance-sheet ratio alone—collapses a distinction that has long been foundational to corporate and securities law.

If your organization relies on clear, fundamentals-based definitions of operating companies, this misclassification matters. Bitcoin For Corporations is asking MSCI to withdraw the proposal and engage on a more principled framework. You can add your name to the open letter here.

3. Treasury Strategy Does Not Redefine Core Business Activity

A company can change how it stores excess capital without changing what it does.

• A manufacturer that holds cash remains a manufacturer
• A software firm holding foreign currency remains a software firm
• A company holding Bitcoin as treasury reserve remains an operating company

Treasury allocation is a capital management decision, not a change in business model.

4. This Would Be a Radical Departure From Decades of Index Practice

Historically, index classification has been driven by operational reality, not asset composition alone.

Primary business determination has relied on:

• Revenue sources
• Earnings contribution
• Ongoing commercial activity

This proposal replaces that holistic approach with a single market-price-driven metric on the asset side of the balance sheet—something never applied consistently across asset classes before.

5. Digital Assets Are Being Singled Out—Uniquely

Under the proposal:

• A company with 51% of assets in Bitcoin → excluded
• A company with 51% in real estate → included
• A company with 51% in equities or commodities → included

No equivalent rule exists for other treasury assets.

This lack of neutrality directly conflicts with the principles that global indexes are supposed to uphold.

6. The Proposal Conflicts With Core Index Principles

MSCI’s benchmarks are built on three foundational ideas:

• Neutrality – no asset-class favoritism
• Representativeness – reflecting real economic activity
• Stability – avoiding unnecessary churn

A rule that reclassifies companies based on volatile market prices undermines all three.

7. The Rule Would Introduce Structural Instability Into Indexes

Consider a company with:

• 45% of assets in digital form → eligible
• No operational change
• Normal market appreciation pushes it to 51%

Under the proposal, that company would suddenly be excluded—despite:

• No change in revenue
• No change in operations
• No change in business strategy

This creates a scenario where companies could flip in and out of indexes purely due to price movement, forcing unnecessary rebalancing, costs, and tracking error for index-linked funds.

This kind of mechanical instability would impose real costs on index-tracking funds, issuers, and long-term investors—without improving market clarity. That’s why companies and market participants are urging MSCI to withdraw the proposal and revisit it with industry input. Join the call for MSCI to withdraw this rule proposal, and add your signature to the open letter here.

8. A More Robust Alternative Already Exists

The issue is not classification—it’s how classification is done.

A principles-based, multi-factor framework would evaluate:

• Revenue and earnings mix
• Legal and regulatory status
• Core corporate activities (employees, R&D, capex)
• Public disclosures and stated strategy

This approach reflects the entire business, not a single fluctuating ratio.

9. The Coalition’s Ask Is Clear and Constructive

Market participants are calling for a two-step solution:

1. Withdraw the current proposal due to its structural flaws
2. Engage with the market to develop a neutral, principles-based framework that preserves index integrity

The goal is not special treatment—but consistent treatment aligned with long-standing market norms.

Why This Matters

Indexes are not academic exercises. They:

• Guide trillions of dollars in capital allocation
• Shape passive investment flows
• Influence cost of capital for public companies

If index rules become arbitrary, unstable, or asset-specific, they stop reflecting the real economy—and start distorting it.

Final Thought

If your organization depends on fundamentals-based equity benchmarks, this proposal affects you—whether or not you hold digital assets today.

Indexes only work when they remain neutral, stable, and grounded in operating reality. Market participants are asking MSCI to withdraw the proposed digital asset rule and work toward a principles-based alternative.If you or your organization depend on fair and consistent equity benchmarks, adding your signature to the open letter helps ensure those standards are preserved.

Index integrity relies on clear principles, not price-driven thresholds.

Engagement now helps ensure global benchmarks remain neutral, stable, and representative for everyone who relies on them.

Disclaimer: This content was prepared on behalf of Bitcoin For Corporations for informational purposes only. It reflects the author’s own analysis and opinion and should not be relied upon as investment advice. Nothing in this article constitutes an offer, invitation, or solicitation to purchase, sell, or subscribe for any security or financial product.

This post 9 Ways MSCI’s Proposed Digital Asset Rule Could Undermine Index Neutrality first appeared on Bitcoin Magazine and is written by Nick Ward.

Source: Bitcoin Magazine – Read More

Bitcoin Magazine

Klarna Partners With Privy to Explore Use of Crypto Wallets

Just weeks after announcing a stablecoin, Swedish fintech giant Klarna is taking another step into crypto. The company has teamed up with Privy, a wallet infrastructure platform owned by Stripe, to explore digital asset solutions for its users.

The partnership will focus on research and development of crypto wallet features, the company said. The two aim to make it easier for everyday users to store, use, and send digital assets. The move builds on the company’s recent launch of KlarnaUSD, a U.S. dollar-backed stablecoin issued on the Tempo blockchain.

“Millions already trust Klarna to manage everyday spending, saving, and shopping,” said Sebastian Siemiatkowski, CEO and co-founder. “That puts us in a unique position to bring crypto into the financial lives of normal people, not just early adopters. With Privy, we plan to build products that feel as intuitive as any other Klarna feature.”

KlarnaUSD was launched with Tempo and Bridge, a Stripe-backed stablecoin infrastructure provider. 

The token is live on Tempo’s testnet and expected to launch on mainnet in 2026. The fintech giant said the stablecoin could reduce global cross-border payment costs, currently estimated at $120 billion annually.

100 million accounts coming to crypto via Klarna

Privy powers over 100 million accounts for more than 1,500 developers. The platform supports crypto-native applications like OpenSea and Hyperliquid. 

Henri Stern, CEO and co-founder of Privy, said the partnership will allow users to hold a wide variety of digital assets, trade safely, and transact with friends anywhere in the world.

“We’re proud to partner with world-class fintechs like Klarna, providing the secure, enterprise-ready infrastructure they need,” Stern said. “Privy aims to be the backbone for any business that wants to harness the exciting capabilities crypto and stablecoins offer.”

The initiative reflects a growing trend. Traditional fintechs are now testing ways to integrate crypto tools into everyday consumer finance. The company said any future wallet or crypto product would require the necessary regulatory approvals before launch.

Venture capital firm a16z estimates that 716 million people globally hold cryptocurrencies. Between 40 million and 70 million transact with crypto each month. That figure grows by roughly 10 million users a year.

Klarna’s push into crypto marks a sharp turn for the company. CEO Siemiatkowski was once a vocal skeptic of digital currencies. 

He said the market’s maturity and Klarna’s global reach now justify this entry. Klarna serves 114 million customers and processes $112 billion in annual gross merchandise volume.

The company plans to explore further crypto initiatives. A blog post on Thursday hinted at a new announcement “in a week or so,” suggesting more developments are coming soon.

This post Klarna Partners With Privy to Explore Use of Crypto Wallets first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Source: Bitcoin Magazine – Read More