Top Crypto News of this Week: Bitcoin ETF Approval Near, ETH Comeback
Nova Reyes
Markets Navigator
TL;DR
This week in crypto features significant developments including MicroStrategy's Bitcoin purchases, the potential approval of a Bitcoin ETF by the SEC, Ethereum's price surge, and a notable decrease in crypto thefts.
Key Takeaways
- MicroStrategy's Bitcoin holdings exceed $8 billion following recent purchases.
- The SEC is expected to approve a spot Bitcoin ETF by December 29, 2023.
- Ethereum is trading at $2,433, showing strong upward momentum.
- Hackers stole approximately $2 billion in crypto in 2023, the lowest since 2020.
MicroStrategy Exceeds $8 Billion Worth of Bitcoin
Wednesday, December 27, 2023
MicroStrategy has significantly increased its Bitcoin holdings, surpassing $8 billion after purchasing 14,620 Bitcoin at $42,110 each. This surge has contributed to a 300% increase in the company's shares this year. CEO Michael Saylor emphasized that a Bitcoin-backed ETF does not threaten MicroStrategy's position, as the company utilizes debt financing for its Bitcoin acquisitions.
SEC's Potential Approval of Spot Bitcoin ETF
Monday, December 25, 2023 – Tuesday, December 26, 2023
Reports suggest that the SEC may approve a spot Bitcoin ETF by December 29, 2023, following meetings with major firms like BlackRock and Grayscale. Additionally, Grayscale Chairman Barry Silbert will step down, raising questions about the implications for the ETF approval process.
Ethereum's Strong Comeback
Thursday, December 28, 2023
Ethereum is experiencing a resurgence, trading at $2,433 and showing signs of a potential breakout. Analysts predict that ETH could reach $3,000 in early 2024, marking a strong end to the year.
Decrease in Crypto Theft in 2023
Tuesday, December 26, 2023
According to the DeFi REKT Database, hackers stole around $2 billion in crypto in 2023, the lowest amount since 2020. Major hacks included Mixin Network, Multichain, and BonqDAO, but overall thefts have decreased compared to previous years.
Stay Tuned!
This concludes this week's top crypto news. Stay informed with Coin Informer for the latest updates and insights into the crypto world as we head into 2024.