MicroStrategy’s Bitcoin Acquisition; BlackRock’s ETF Triumph; Glif’s DeFi Breakthrough

Written by BTSE

February 7, 2024

MicroStrategy's Bitcoin Acquisition; BlackRock's ETF Triumph; Glif's DeFi Breakthrough

Last night, in a noteworthy turn of events, the Solana (SOL) network experienced an outage, with transactions temporarily halted. Consequently, SOL’s price quickly dipped to $94 before recovering to $97, and it’s currently trading at approximately $96.3. Meanwhile, Ethereum (ETH) appears to have captured the attention of Bitcoin (BTC) traders, as BTC’s price remains in a consolidation phase. ETH has experienced a 2.33% rise over the last 24 hours, now trading at $2,375. This shift indicates a dynamic movement in the cryptocurrency market, with traders exploring opportunities beyond Bitcoin’s current stability.


What to Watch Out for Today


1. MicroStrategy’s Bitcoin Investment Grows: MicroStrategy acquires an additional 850 Bitcoins, reaching 190,000 BTC in holdings. With a net income boost in Q4 2023, the firm points to a digital asset transformation and a bullish future for Bitcoin, especially with ETFs on the horizon. Investors might wish to consider the implications associated with institutional adoption of Bitcoin. Long BTC?


2. BlackRock’s ETF Makes a Splash: In just 17 days, BlackRock’s iShares Bitcoin Trust (IBIT) became one of the top ETFs by inflow in 2024. With $3.2 billion in inflows, it stands among giants, signaling strong investor interest in Bitcoin. Could this be a pivotal moment for those looking to diversify into crypto ETFs? 


3. Glif’s Funding and Rewards Program: Filecoin’s Glif has raised $4.5 million, with a rewards program planned ahead of a token launch. Targeting a significant value locked, Glif aims to bolster the Filecoin DeFi ecosystem. For DeFi enthusiasts and investors, Glif’s developments could offer new opportunities. Keep an eye on their progress! Long FIL?


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Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.

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