Bitcoin surges a day after Grayscale reopens deposits, and it’s not a coincidenceBTC $39,709 (+14.4%) • ETH $1232 (+16%) • LTC $154 (+12.5%)
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The price of Bitcoin has recovered strongly overnight, rising from around $34,000 to $38,500. The 10% rally coincides with Grayscale reopening its products. Last month, Grayscale closed its products for new investors. Since Christmas, the Grayscale Bitcoin Trust did not report any additional inflow as a result. The Grayscale Bitcoin Trust is the go-to investment vehicle for institutions in the U.S. to gain exposure to BTC. Hence, when it is closed to new investors, there are naturally lower capital inflows into the Bitcoin market. Ad 📈 Earn 8% APY on Bitcoin & 9 more crypto assets and 12% on Fiat & Stablecoins. Compounding interest, paid out daily. Trending … 🚜 DeFi Tokens • 🔮 Oracle Tokens • 📈 Biggest Gainers • 💵 Stablecoins More news ⏬Jack Dorsey defends his ban of Donald Trump and advocates for Bitcoin’s modelThe Twitter founder is a known Bitcoin advocate. Why more analysts are starting to expect Ethereum may hit $10k long-termMore analysts are beginning to believe that Ethereum could achieve $10,000 to $20,000 in the long-term. Michael Saylor: Bitcoin is a better bet now than tech stocks were in the early daysSince charging onto the crypto scene late last year, MicroStrategy CEO Michael Saylor has become something of a Bitcoin poster boy. On-chain data: Institutional players likely bought Bitcoin’s weekend dip to $30kBitcoin faced a strong dip last weekend and early this week. DeFi coin THORChain (RUNE) surges 30% following SushiSwap listingTHORChain (RUNE) is surging higher today after the cryptocurrency joined hands with SushiSwap. Aragon One CEO resigns after a disagreement over governance decisionsIt’s new beginnings for Jorge Izquierdo, who would continue to be involved with Aragon albeit at a community level. Is Gary Gensler’s appointment as head of the U.S. SEC good for Bitcoin?The incoming chairman is said to hold a favorable view of Bitcoin and other cryptocurrencies. Why this trader thinks the Bitcoin bottom is in based on volume trendsOn January 12, the day the price of Bitcoin dropped from $41,000 to $30,500, over $2.5 billion worth of futures contracts were liquidated. Here’s why these 10 crypto personalities say Bitcoin is the BEST money
The debate on Bitcoin being money or not rages on. The world’s original, and current biggest, cryptocurrency was initially founded in 2009 by its pseudonymous creator Satoshi Nakamoto to replace fiat money, but price gyrations have since made it an asset class akin to “digital” gold. Control your wealthAd: A trusted and accessible wealth management ecosystem powered by blockchain technology, SwissBorg puts your wealth back in your hands. 🗞 Got a story tip? Email tips@cryptoslate.com Crypto market dataFor more pertinent market data, please see: Connect with usDisclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to the content within this article.
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