The Grinch Who Stole Bitcoin’s Price Rally
Bitcoin experienced a bit of a holiday hiccup, dipping to $92K before bouncing back to $96K. This festive price fluctuation highlights the ever-changing nature of the crypto market, where investors are carefully watching upcoming events that could shift market dynamics.
Battery Firm Invests $21 Million in Bitcoin Reserve
KULR Technology Group has purchased 217.18 Bitcoin for $21 million as part of its strategy to hold Bitcoin in its treasury. The company plans to allocate up to 90% of its surplus cash to Bitcoin going forward. For Bitcoin custody and wallet services, KULR chose Coinbase’s Prime platform.
KULR, known for its advanced energy solutions in sectors like space, aerospace, and defense, designs and manufactures efficient batteries that cater to the storage needs of various industries. This Bitcoin investment aligns with the company’s focus on cutting-edge technology and long-term growth.
BlackRock Bitcoin ETF Experiences Record Outflow as Ethereum Funds Surge
On Christmas Eve, BlackRock’s iShares Bitcoin Trust ETF saw an unprecedented outflow of $188.7 million, marking the largest single-day withdrawal in its history. This brought the total outflows from US bitcoin funds to over $1.5 billion within four days.
In contrast, Ethereum ETFs have seen an uptick in investment, though the reasons behind this trend remain unclear. Despite the outflows from Bitcoin ETFs, US bitcoin funds now hold more assets than gold ETFs, signaling a growing shift in investor preferences.
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Trump Appoints Ex-Footballer to Lead Crypto Advisory Council
Former college football player and ex-congressional candidate, Bo Hines, has been appointed by Donald Trump to lead the newly formed Presidential Council of Advisors for Digital Assets. Hines will work directly with David Sacks, the newly appointed “Crypto Czar,” to foster innovation and growth in the US cryptocurrency industry.
Announced on Trump’s Truth Social platform, this leadership move is part of a broader push to strengthen America’s technological dominance, with Hines tasked with guiding the nation’s crypto sector toward a more supportive regulatory environment.
Vivek Ramaswamy Launches Bitcoin Bond ETF with Trump’s Crypto Endorsement
Vivek Ramaswamy’s Strive Asset Management has filed for a new Bitcoin Bond Exchange-Traded Fund (ETF), focusing on convertible bonds from major Bitcoin investors like MicroStrategy. Ramaswamy’s move is seen as a sign of optimism for a crypto-friendly regulatory environment, especially with support from Trump’s team.