Bitcoin hovered near $50,000 on February 25 amid what one analyst suspects are fresh buy-ins from institutional investors. US institutional investors are still buying Bitcoin at the 48k price,” said Ki Young Ju, CEO of on-chain analytics resource CryptoQuant.
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MicroStrategy make $1B BTC buy on top of Square, ETF investments
As Bitcoin crashed, two big corporate buyers doubled down, while investors poured more than a half billion dollars into Canada’s Purpose Bitcoin ETF in just one week
According to a Feb. 24 announcement, MicroStrategy bought 19,452 BTC for its reserves, worth more than $1 billion. With this addition, the company’s holdings reach a total of 90,531 BTC, or $4.46 billion as of press time. The firm’s CEO, Michael Saylor, said that accumulating Bitcoin is now one of its core objectives.
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CEO Alan Lane has sent Silvergate Bank's shares soaring by embracing crypto (Photo: Silvergate Bank)Crypto Bank Silvergate Capital’s stock up over 1,000%
The bank, which went public in November 2019 and serves customers like Coinbase and Square, was up 1,300% before a broad tech market downturn yesterday
Silvergate, one of the first banks to embrace crypto, has been on tear thanks to its decision to accept cryptocurrency customers when no other banks would.
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Crypto’s top 10: Rankings shake-up looms as Ethereum killers make presence felt
Binance Coin, Polkadot and Cardano are in the ascendancy. Should Ethereum, buckling under the strain of congestion, be worried?
Back in December 2017, when BTC hit $20,000 for the first time, altcoins such as Bitcoin Cash, XRP and Litecoin were firm favorites in the top five. Tether and Binance Coin were nowhere to be seen among the 20 biggest coins. Some, like Polkadot, didn’t even exist. Fast forward to 2021, and the rundown of the 10 biggest cryptocurrencies by market cap looks very different indeed.
