News
Donald Trump supports Bitcoin mining in DC.
Donald Trump supports Bitcoin mining in the USA Donald Trump met with David Bailey, CEO of Bitcoin Magazine, and several leading Bitcoin miners in the US and pledged to support Bitcoin mining both in Washington DC and worldwide. This event marks a significant step towards "hyperbitcoinization" (the full acceptance and use of Bitcoin) in the US. Major participants in the meeting The meeting was attended by representatives of major Bitcoin mining companies such as CleanSpark, Riot Platforms and Marathon Digital, as well as industry experts such as Amanda Fabiano. Riot's Jason Les and Brian Morgenstern spoke with Trump about Bitcoin mining and energy. Trump promised to protect Bitcoin ownership, mining and transactions. Trump wants to mine all remaining Bitcoins in the USA Trump then expressed on Truth Social (his own social platform) his intention for all remaining Bitcoin to be mined in the US, which he aligned with energy dominance. This stance stands in stark contrast to the Joe Biden administration, which is less friendly to Bitcoin and more supportive of a Central Bank Digital Currency (CBDC). Trump advocates crypto operations in America Trump, who is now the first U.S. president to accept Bitcoin Lightning Network (a protocol that enables faster and cheaper Bitcoin transactions) donations, is committed to keeping crypto operations (businesses in the cryptocurrency sector) in America and supports self-custody (the self-storage of cryptocurrencies) for the country's 50 million crypto holders. His crypto-positive stance is gaining him significant support from the crypto community, which could be crucial to a victory in November.
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Metaplanet buys ¥250 million in Bitcoin.
Buying Bitcoin from Metaplanet Japanese company Metaplanet has announced the purchase of an additional ¥250 million (approximately $1.8 million) in Bitcoin, adding 23.35 Bitcoin to the company's holdings. As of June 11, Metaplanet holds approximately 141 Bitcoin, acquired for ¥1.45 billion at an average price of ¥10,278,391 (approximately $65,000) per Bitcoin. The company began using Bitcoin as a treasury reserve asset in April 2024, making an initial investment of ¥1 billion, followed by additional purchases. Share price and strategy Following this latest purchase, Metaplanet's share price rose 10%. This marks the third Bitcoin purchase in seven weeks and has led to a nearly fivefold increase in the share price since April. The strategy aims to hedge against Japan's national debt and the devaluation of the yen. It mirrors the approach of MicroStrategy, a US company that also uses Bitcoin as a corporate reserve. Benefits for Japanese investors Japanese investors benefit from owning Metaplanet shares as they offer indirect exposure to Bitcoin's potential without having to pay high crypto taxes on unrealized gains, while also avoiding regulatory hurdles as the shares are listed on the Tokyo Stock Exchange. Metaplanet's adoption of Bitcoin reinforces Bitcoin's legitimacy as a treasury asset and demonstrates its potential as an inflation hedge and store of value.
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Bitcoin ETFs recorded $1.8 billion inflows last week.
Bitcoin exchange-traded funds (ETFs) continue to see inflows in the US Spot Bitcoin exchange-traded funds (ETFs) in the U.S. saw $1.8 billion in inflows last week, marking the 18th consecutive day of record demand. Trading volumes in these Bitcoin ETFs increased 55% week-over-week to $12.8 billion. Last week, Bitcoin ETFs acquired about 25,700 BTC, which is almost the entire amount of newly mined Bitcoin during that period, thus tightening the market. Inflows exceed total volume of May The latest inflows surpassed May's total, fueled by regulatory approvals in the UK, Australia and Thailand, as well as favorable political developments. With assets under management now exceeding $70 billion, Bitcoin ETFs are legitimizing Bitcoin as an institutional asset (financial instrument used by institutional investors). They have now attracted 5% of the total Bitcoin supply. Investors see Bitcoin as a hedge against inflation and uncertainty The increasing inflows reflect investors' view of Bitcoin as a hedge against inflation and economic uncertainty, especially as interest rate cuts take place in Canada and Europe. Bitcoin ETFs, which launched just a few months ago, have grown rapidly and could continue to attract significant institutional investment if the current momentum continues.
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Breez integrates Lightning Network into all crypto wallets.
Partnered with Cake Wallet to integrate Lightning payments into their popular crypto wallet.
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Bitcoin ownership proof and discussion on Botanix's Spiderchains.
An interview with Willem Schroé from Botanix Labs to talk about Spiderchain, a proof-of-stake sidechain on Bitcoin.
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Semler Scientific raises $150 million.
Medical device maker Semler Scientific has acquired 247 more bitcoins and plans to raise $150 million to further expand its bitcoin treasury holdings, following MicroStrategy's lead.
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Bitcoin to rise to $150,000 on Trump win, Standard Chartered predicts.
Standard Chartered says Bitcoin could reach $80,000 this month.
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Robinhood buys Bitstamp for $200 million.
Robinhood has agreed to acquire leading Bitcoin and crypto exchange Bitstamp for $200 million, marking a significant expansion of its crypto business globally.
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Bitcoin will reach $350,000.
Well-known author Robert Kiyosaki has predicted that Bitcoin will rise to $350,000 by August 2024. He justifies this with his lack of confidence in the current US leadership and supports Bitcoin as an alternative.
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