$96,000 per Bitcoin for Miners, Shiba Inu Soars 6,153% in Weekly Burns, ‘Rich Dad Poor Dad’ Author Kiyosaki Warns Banking Crash Has Started: Crypto News Digest by U.Today
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Aurelia Butler
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Michael Saylor’s MicroStrategy Stock Eyes Epic Milestone in Next Two Days
In a recent tweet, BitMEX Research highlights that MicroStrategy’s stock has held steady, maintaining a closing price above $186.23 for 18 out of the last 28 trading days. If this trend continues for the next two days, MSTR will have closed above this critical threshold for 20 trading days within 30 days.Since the collapse of the crypto markets two years ago, MicroStrategy has outperformed almost every major U.S. stock, including AI bellwether Nvidia Corp . (NASDAQ:NVDA)In the past week, MicroStrategy neared a more than two-decade high of $258.24 as Bitcoin surged toward its all-time high of nearly $74,000 set in March. The shares have risen by more than 300% this year, beating Bitcoin’s roughly 70% advance, thanks to Executive Chairman Michael Saylor’s leveraged investment strategy.In a recent blog post, BitMEX research examined MicroStrategy’s outstanding bonds, taking a look at their structure and convertibility options. Thus, the anticipation surrounding MSTR’s potential milestone.As explained by BitMEX, on or after a specific date, MicroStrategy has the right, but not the obligation, to redeem the bonds and pay the holders cash. This right can only be exercised if the stock trades more than 30% above the conversion price, for any 20 days (consecutive or not) in any rolling 30-day trading window.With zero coupon bonds, the MSTR cash option date of February 2024 has already passed. The conversion price is $143.25, and a 30% premium to this is $186.23. This option is close to coming into play as MSTR is set to close above $186.23 for 20 days within a 30-day window. Exercising this option would create value for MSTR shareholders, but bondholders may be able to prevent this by exercising their conversion rights.This article was originally published on U.Today More
‘Indestructible Bitcoin’ Tweet Issued by Jeremie Davinci as BTC Seeks to Regain $70,000
Davinci published a tweet that may be interpreted in various ways: “Truth is indestructible. #Bitcoin” and may refer to specific things, such as the strictly limited 21 million Bitcoin supply, or to things that are vague and abstract that Bitcoiners love to tweet about regarding BTC as an idea or an innovative concept.This tweet triggered bullish comments from Davinci’s followers, who support the world’s flagship digital currency, Bitcoin.Over the past 24 hours, BTC has been trading in the $69,000 range, and just in the past hour, it plunged to the $68,300 zone, losing 1.33% in the past day overall. Looking at a longer time frame, it has shed 7.26% since Tuesday, Oct. 29, after it had come really close to the $74,000 price high.Another on-chain data source, Lookonchain, also reported several massive Bitcoin purchases made on the Binance exchange since Nov. 1. Five different wallets purchased 2,780 Bitcoins in total in the following chunks: 880 BTC, 615 BTC, 595 BTC, 550 BTC and 140 BTC.All these five purchases but one were made below the $70,000 level. The massive Bitcoin plunge witnessed at the moment can be attributed to the high level of uncertainty present on the market as U.S. Election Day approaches. Many weak hands are selling Bitcoin, but those holders who are called “diamond hands” in the crypto community are purchasing BTC at a discount from them.Multiple experts have predicted a staggering Bitcoin rise next year. Among them was Robert Kiyosaki, known as the author of “Rich Dad Poor Dad” on personal finance management. In a recent tweet, he stated that he loves “the Bitcoin Standard.”This article was originally published on U.Today More
- in Economy
Powell to remain dovish as softer inflation, jobs de-risk rate cut plan: Citi
“Instead, we believe he will leave options open for either slowing or accelerating rate cuts at 2PM Thursday – a dovish message relative to the market focus,” Citi analysts Andrew Hollenhorst and Veronica Clark said.The Fed is expected to deliver a 25 basis rate cut at the conclusion of its two-day meeting on Thursday.Recent market bets have swayed toward expectations that the U.S. economy may not cool sufficiently for the Fed to continue its plan to reduce policy rates to neutral. Citi analysts, however, argue that the latest data points strongly in the opposite direction.The softer-than-expected jobs report for October, after accounting for hurricane and strike effects, along with core PCE inflation running close to target and the employment cost index slowing to 3.2% annualized, are likely to keep Powell from endorsing a hawkish view, the analysts said.”Fed officials had prepositioned to dismiss any weakness in the October jobs report, which will moderate the dovishness of the response,” they added, referring to comments made by Governor Waller on October 14th.Citi expects little debate about cutting rates by 25 basis points at the November meeting. The December rate cut decision will depend on labor market data, with Citi expecting another 50 basis point cut.The analysts also pointed out that the FOMC meeting will be held just after the U.S. presidential and congressional elections. They expect Powell to emphasize that monetary policy will react to macroeconomic developments, not proposed new policies, if asked about the election’s impact on Fed policy.Regarding the balance sheet reduction, Citi analysts believe Fed officials are unconcerned by the modest pickup in funding rate volatility and could be comfortable running reduction well into 2025. More
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Private cash, spurred by public funds, should drive EU investment, ministers say
BRUSSELS (Reuters) – Europe’s investment needs for the green and digital transition, along with defence and research, should use public funds primarily to attract and boost private investment, EU finance ministers said on Monday.Their statement, which confirms details from a draft seen last week by Reuters, will form part of EU discussions on competing with China and the United States in advanced technologies while cutting CO2 emissions.Last month, former European Central Bank president Mario Draghi estimated the EU needs up to 800 billion euros ($870.80 billion) in annual investments – up to 5% of its GDP – to keep pace with global rivals. EU finance ministers said they cannot meet this sum alone, highlighting the need for strong capital markets to draw private funds as public finances have been depleted by multiple crises.The limited public funds were “best used as a catalyst for leveraging private capital in areas with positive spillovers,” the statement said.Leveraging in this case means using a relatively small amount of EU funds to cover the riskiest parts of a project, thereby drawing private investors to the safer, more profitable segments.The ministers met on Monday ahead of an EU summit on competitiveness on Nov. 7-8 in Budapest. They also expressed willingness to spend EU taxpayer money on services and infrastructure that benefit all 450 million citizens across borders, labelling these as EU public goods.”While private investment is vital, public financing also has an important role to play. European financing should focus on areas where public goods can be more effectively delivered jointly,” the statement said.Germany and other EU nations have rejected further joint borrowing due to debt from the COVID-19 pandemic, but ministers have said cross-border electricity grids are essential in securing lower, stable energy prices for businesses.($1 = 0.9187 euros) More
Gavin Wood signals next steps for Polkadot’s revolutionary JAM protocol at sub0 reset
WebZero has announced the full agenda for its conference sub0 reset, inviting developers, investors and innovators to join Polkadot founder Dr Gavin Wood, along with industry leaders from Parity and the Web3 Foundation, to work on building JAM, a new paradigm paving the way forward for writing and securing Web3 applications.The three day event from 9-11 November in Bangkok is dedicated to the most exciting innovation of the Polkadot ecosystem: advancing Gavin Wood’s visionary JAM chain project into the implementation stage and showcasing the most innovative projects built on Substrate.JAM takes Polkadot’s current architecture to a new level of flexibility, in which Polkadot’s cores can be used for any verification task, whether for smart contracts or sovereign blockchains, maximizing the potential of the cores. It seeks to offer a real solution to the scalability vs coherency dilemma in Web3.sub0 reset kicks off with a dedicated education day. Attendees can learn from industry greats such as Polkadot founder Robert Habermeier and Avail’s Anurag Arjun, and join barcamp deep-dives focused on Substrate. Day two is Modularity Day, with discussions from leading innovators at Avail, R0gue, Midnight and Parity Technologies. Day three is JAM & Scalability day, building out Polkadot’s founder Gavin Wood’s vision to transform the ecosystem into the world’s first global computer. The venue’s 24/7 hackerspace will give new teams the chance to co-work and compete for 10k USD in prizes.A limited supply of free tickets for sub0 reset are available here. The event runs from 10 AM until late each day. Make sure to subscribe to the WebZero Luma for full scheduling opportunities. The hackerspace runs 24 hours a day, ensuring developers can build at all hours of the night with food and beverages provided free of charge. Media lounge and recording rooms are provided.The event will be streamed on the Polkadot Youtube channel.For any further media enquiries, please contact media@joinwebzero.comAbout WEBZEROWebZero is a developer experience builder that is establishing a hybrid between event production and developer relations, based on its own unique vision and methodology.About PolkadotPolkadot is the powerful, secure core of Web3, providing a shared foundation that unites some of the world’s most transformative apps and blockchains. Polkadot offers advanced modular architecture that allows devs to easily design and build their own specialized blockchain projects, pooled security that ensures the same high standard for secure block production across all connected chains and apps connected to it, and robust governance that ensures a transparent system where everyone has say in shaping the blockchain ecosystem for growth and sustainability. With Polkadot, users are not just participants, they’re co-creators with the power to shape its future.ContactManager of comms / PRJonathan DuranDistractivemedia@joinwebzero.comThis article was originally published on Chainwire More
BlackRock Makes History as $2.1 Billion Enter Bitcoin Market
CryptoQuant CEO Ki Young Ju brought this development to the attention of the crypto market in a recent tweet. “BlackRock’s IBIT recorded the highest weekly netflows since March 2024. $2.11 billion flowed into the Bitcoin market,” Ju wrote in a new tweet.In the past week, BlackRock’s Bitcoin fund posted an unprecedented net inflow in the past week, in which $872 million poured into the iShares Bitcoin Trust exchange-traded fund on Wednesday, hitting a daily record. This was one of the largest since its launch, with BlackRock setting a new record for the highest inflow ever.Bitcoin rose to a high of $73,624 last Tuesday before falling for six days in a row. Bitcoin bulls were disappointed over the weekend as the market continued to fall from last week’s liquidated longs.Bitcoin plummeted to lows of $67,444 in Sunday’s trading session before managing only a modest rebound.Bitcoin was attempting to recover at the time of writing, having increased by 0.52% in the previous 24 hours to $68,308. Most other major digital assets were experiencing mild losses, with some posting minor gains.Traders were last pricing in a 99% likelihood of a quarter-point interest rate drop, according to CME Group’s (NASDAQ:CME) FedWatch tool. This comes after the Fed’s significant 50-basis-point rate decrease in September.Before the Fed’s decision, investors will be watching for additional economic data points on Monday and Tuesday.This article was originally published on U.Today More
Deutsche Telekom’s ‘Daughter’ Announces Bitcoin (BTC) Mining Plans to Help Germany
The responsibilities in this partnership are split so that MMS is going to use its Web3 expertise to run mining systems, while Bankhaus Metzler will look for new opportunities to perform financial services related to digital assets.Based on the results of this pilot, the partners plan to assess the feasibility of larger-scale projects and further blockchain integrations in the German energy sector.Importantly, the project will be launched in a pilot phase. It should provide insight into the potential of Bitcoin mining as a tool for energy regulation, a strategy that is already in use in other countries such as the U.S. and Finland. Through the use of regulated mining loads, surplus energy can be diverted to cryptocurrency mining during times of low demand, which can help eliminate the fluctuations often faced by renewable energy producers.This article was originally published on U.Today More
