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Bitcoin News
Microstrategy Proposes $500M Convertible Senior Notes Offering to Acquire Additional Bitcoin
Microstrategy has announced its intention to offer 0 million of convertible senior notes due 2032 in a private offering, subject to market conditions. The company also expects to grant the initial purchasers an option to purchase up to an additional million of the notes within a 13-day period from the issue date. The notes […]
Bitcoin News
Marathon to Acquire Applied Digital’s 200 MW Texas Bitcoin Mining Site
The Nasdaq-listed mining enterprise Applied Digital has concluded a definitive pact for selling its 200-megawatt (MW) mining facility in Garden City, Texas. Applied Digital disclosed that the transaction involves Marathon Digital Holdings acquiring the Garden City mining property for a sum of .3 million. Applied Digital and Marathon Ink .3 Million Deal for Texas Mining […]
Bitcoin News
New Wave of Bitcoin ETFs Acquire 264,232 BTC Worth $13.5B in Just 5 Weeks, Blackrock’s IBIT Leads Charge
In the last 37 days, the newly introduced nine spot bitcoin exchange-traded funds (ETFs) have rapidly accumulated a remarkable total of 264,232.74 bitcoin, now valued at .5 billion based on the current exchange rates. Leading the pack, Blackrock’s IBIT ETF holds a substantial 43% of this total, with 115,989.80 bitcoins in its coffers. .5B in […]
Bitcoin News
Disney to Acquire $1.5 Billion Stake in Epic Games, Aims to Create Joint Metaverse
Disney, one of the biggest entertainment companies, has decided to acquire a .5 billion stake in Epic Games, makers of the known persistent metaverse platform Fortnite. The companies will collaborate to develop a metaverse featuring Disney-owned intellectual properties (IPs) which will benefit from interaction and coexistence with Fortnite. The Disney Metaverse Is Coming Disney is […]
Bitcoin News
Australian Bitcoin Miner Iris Energy Set to Acquire 8,380 New-Generation T21 Miners
Bitcoin mining company Iris Energy Limited said on Dec. 15 that it expects to take delivery of 8,380 new-generation T21 miners from Bitmain. Delivery of the mining machines is expected to help Iris Energy fulfill its goal of increasing its self-mining capacity to 10 EH/s (exahash per second).
Acquisition to Improve Overall Fleet Efficiency
The Australian Bitcoin mining company Iris Energy Limited announced on Dec. 15 that it is set to acquire .3 million worth of 8,380 new-generation T21 miners from Bitmain Technologies Delaware Limited. Once installed, the T21s, together with S21s, are expected to improve the Bitcoin miner’s “overall fleet efficiency from 29.5 J/TH to 24.8 J/TH.”
In a statement, Iris Energy said the shipment of the T21s is scheduled for the second quarter of 2024. Delivery of the mining machines is expected to help Iris Energy fulfill its goal of increasing self-mining capacity.
“The company’s 80MW data center expansion at Childress remains on track to be progressively delivered from January 2024 through to Q2 2024, supporting the increase in operating hash rate from 5.6 EH/s to 10 EH/s,” the Bitcoin miner said.
Iris Energy added that its 80MW data center expansion at Childress is on course to be “progressively” delivered starting in January 2024 through to Q2 2024. This is expected to support the increase in the operating hash rate.
According to the statement, the purchase price for the Bitcoin miners, which translates to /TH (terahash), is payable in progressive installments.
What are your thoughts on this story? Let us know what you think in the comments section below.
Bitcoin, Ethereum Technical Analysis: BTC Consolidates Near $28,000, as First Citizen Agrees to Acquire Silicon Valley Bank
Bitcoin started the week trading around the ,000 mark, as markets reacted to the news that Silicon Valley Bank was to be acquired. First Citizen Bank agreed to buy approximately billion in SVB assets, at a discounted rate of .5 billion. Ethereum continued to trade under ,800 on Monday.
Bitcoin
Bitcoin (BTC) started the week trading marginally higher, with prices hovering near the ,000 level.
Following a bottom at ,678.15 on Sunday, BTC/USD moved to a high of ,178.14 earlier in today’s session.
The move saw bitcoin edge towards a recent resistance point at the ,300 mark, which was last hit on Friday.
Overall, BTC has mostly consolidated on Monday, which comes as the 14-day relative strength index (RSI) collided with a ceiling at the 65.00 zone.
As of writing, the index is tracking at the 64.51 level, with the next visible point of support at the 62.00 mark.
Should bulls take price strength below this point, there is a strong possibility that BTC could move below ,000.
Ethereum
Ethereum (ETH) largely consolidated on Monday, as prices moved away from a key price floor in today’s session.
ETH/USD jumped to a peak of ,797.88 earlier in the day, which comes less than 24 hours after falling to a low of ,748.44.
Since hitting a seven-month high of ,861 last Thursday, the world’s second largest cryptocurrency has mostly traded below ,800.
Overall, ethereum is down 1.19% from the same point last week, with prices mostly moving between a floor of ,730, and a ceiling at ,820.
The 10-day (red) moving average has now begun to shift direction, with upwards momentum now fading.
Prices may continue to trend sideways heading into April, unless some unexpected news moves markets.
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Do you expect ethereum to finish the month below ,800? Leave your thoughts in the comments below.
Sources: PayPal Is Looking to Acquire Crypto Companies, Namely BitGo
On Wednesday, PayPal shocked the crypto industry when it revealed that it would be directly supporting digital assets by adding the ability to purchase and sell Bitcoin, Ethereum, and other altcoins. The announcement also indicated that the firm would be supporting cryptocurrency payments between its merchants and the retail users it supports.
New reports indicate that PayPal’s interest in crypto stretches far beyond it acting as an exchange and payment processor, though.
Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom
PayPal Looks to Acquire Crypto Companies: Reports
Bloomberg reported just minutes ago that PayPal is looking to acquire crypto-asset companies, namely BitGo.
BitGo is one of this space’s biggest custodians, servicing the Wrapped Bitcoin project, along with funds and service providers. It has been invested in by Galaxy Digital, Goldman Sachs, Jump Capital, and other firms in and out of Wall Street.
The Bloomberg report cites “people familiar with the matter” of PayPal’s plans.
The firm acquiring BitGo would likely allow it to provide custodial services to its retail clients, along with potentially more institutional clients that are looking to dabble in digital assets.
The people said that PayPal may seek to acquire other companies if the BitGo talks fall through.
There is currently no knowledge of how much PayPal would spend if it were acquiring the company. But Bloomberg notes that in 2018, the company raised .5 million from a number of financiers at a 0 million valuation. Bitcoin has gained further adoption as an institutional asset since that time.
Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin
Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Sources: PayPal Is Looking to Acquire Crypto Companies, Namely BitGo
London Football Exchange to Acquire Australia’s Club Perth Glory FC
Crypto startup The London Football Exchange (LFE), a financial, technology, media and entertainment group best known for its tokenized experiences for footie fans, has unveiled its latest signing. The UK-based company has enacted a deal to acquire a majority stake in the Australian A-League side Perth Glory FC. As a result of the agreement, LFE will introduce a new business model designed to turn Perth Glory into a global brand while providing fans with direct access and enhanced matchday experiences.
Crypto tokens have been making inroads into the sports industry, with top tier clubs utilizing them to administer loyalty rewards and to provide exclusive fan offers. LFE’s eponymous token, launched via a M token sale in 2018, is likely to be integrated into the commercial side of Perth Glory’s business once the deal is finalized in late March.
Football enters the 21st century
Forward-thinking football clubs in England and across Europe have latched onto the opportunities afforded by crypto payments in the digital age, using them to grow their global fanbase and increase revenue. Now, LFE will be aiming to show that this strategy works equally effectively down under, where football is enjoying a renaissance. Melbourne City has already adopted the multi-club ownership model pioneered by the likes of Manchester City and New York City. LFE plans to roll out a similar model at Perth Glory, acquiring a string of clubs that will be overseen by a single group while retaining the values that have made the Australian club so successful to date.
As part of the arrangement, club chairman Tony Sage will remain in place, enabling him to build on the work he’s been undertaking to develop the women’s game and youth team. Perth Glory, situated in Western Australia’s largest city, command a sizeable fanbase and a growing global profile, aided by achievements such as the club’s qualification for the 2019/20 Asia Champions League.
Placing fans at the forefront of football
Many sports teams profess to have a fan-oriented model, though few actually walk the walk, advancing systems designed to provide greater accountability and fan inclusion. Perth Glory already possesses a reputation as a community-oriented club, and this is likely to be bolstered once LFE’s acquisition goes through, paving the way for greater commercial opportunities while building bridges between the club and its fanbase.
In a statement, Perth Glory chairman Tony Sage said: “The fact that the LFE is designed and manned by fans for fans makes me proud to say I am part of the team and that PGFC is the cornerstone of this wonderful project…I am looking forward to the next 15 years where we want to become the dominant force in terms of footballing standards but also in terms of youth development for both the men’s and women’s game.”
NewsBTC
Institutions Clamor For Bitcoin: Crypto Giant Coinbase May Acquire Xapo
In an impeccable sign of the times, sources tell The Block that Coinbase may soon acquire Xapo, one of the first and most well-regarded Bitcoin custodians. This news has been divulged as data indicates that institutions are looking to siphon capital into the crypto asset space, thereby making custodians a necessity.
Related Reading: Prominent Analyst: Trouble for Bitcoin if Price Corrects Below ,500
Coinbase & Fidelity Duke It Out Over Xapo
Reported by The Block on Thursday morning, the San Francisco-based cryptocurrency giant Coinbase is “in advanced talks” to purchase Xapo, a Zurich-headquartered custodian that purportedly owns at least 5% of all BTC in circulation, worth billions of dollars. In fact, Xapo has been reported to store the Bitcoin in Grayscale’s Trust (over 1% in circulation) in military vaults in Switzerland, sequestered away in mountain ranges.
Xapo, headed by “Patient Zero” Wences Casares, who adopted Bitcoin after he was slammed by multiple hyperinflations of the Argentinian Peso, is one of the earliest startups in the space, and has secured funding from Digital Currency Group, Winklevoss Capital, and Blockchain Capital.
Sources, who are “people familiar with the matter”, tell the outlet that Coinbase has an offer of million and added contingent “earn-outs” on the table, but that Xapo has yet to shake on the proposed deal. They add that Coinbase and Fidelity’s resident crypto division, Digital Assets, have been duking it out over this deal, which is massive in and of itself. So far, as hinted at, Coinbase has the lead and was quicker on the draw, as the budding startup looks to bolster its embryonic custody business in a renewed drive to appeal to institutional players.
Related Reading: Here’s Why the Bitcoin Price May Not See a Big Correction At All
This news comes after Coinbase has revealed that it really intends to delve into custody, citing growing interest from its institutional clients and contacts. Speaking at Consensus, Brian Armstrong, the technologist-turned-chief executive of Coinbase, revealed that his firm’s custodian crossed billion worth of assets under management (AUM) this week, which was sourced from 70 institutions. Armstrong adds that this sum continues to grow by 0 million, signaling immense interest from the non-retail audience.
And in a Q&A session held on Wednesday night, the entrepreneur noted that Coinbase Pro’s volume is now 60% institutional, furthering the narrative that his company should continue to focus on the needs of big names, which many believe will mature the cryptocurrency market.
Institutions Flood Into Bitcoin
This comes as data has revealed that institutional players are also jumping headfirst into cryptocurrency, downing a red pill if you will. On Monday, for instance, the CME’s Bitcoin futures vehicle saw 168,385 BTC worth of volume on Monday, up from February record of 91,690 BTC. In a similar fashion, the Digital Currency Group’s subsidiary Grayscale was revealed Monday to have seen its flagship product, its Bitcoin Trust, post 1 million in volume today on markets.
And Fidelity Investments revealed that institutions are widely amicable towards the digital asset class. Out of the “more than 400 U.S. institutional investors” polled, 47% agreed that cryptocurrencies should have a place in their portfolios.
But this begs the question, will improved custody solutions spark widespread “FOMO” from some of the bigger names in the institutional side of markets?
Featured Image from Shutterstock
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