Bitcoin hits $70K as ETF inflows continue to grow

Bitcoin has topped $70,000, its highest price since June after US-based ETFs surpassed total joint lifetime net inflows of over $22 billion.

*Bitcoin’s change in price over the 24 hours. Source: TradingView*

Tether CEO Breaks Down $9.45B in BTC and Gold Reserves, but It’s Only Part of the Picture.

At the Plan ₿ Forum in Lugano, Switzerland, Tether CEO Paolo Ardoino gave an insight into the financial reserves of Tether, disclosing that the stablecoin heavyweight holds 82,454 BTC and 48.3 tons of gold.

*Image source: Uquid CEO Tran Hung*

The Race to the Zettahash Era: Bitcoin’s Hashrate Breaks New Records.

On Friday, Oct. 25, 2024, Bitcoin’s network hashrate climbed to a new all-time high, reaching 736.81 exahash per second (EH/s)—a milestone unmatched in the network’s history.

*Source: Seven-day hashrate from hashrateindex.com.*

Protocol Village: Lisa Neigut's Base58 Gets First-Ever Bitcoin Grant From Donor-Advised Fund.

The latest in blockchain tech upgrades, funding announcements and deals. For the period of Oct. 24-30.

TeraWulf: Overview of a Rising Bitcoin Miner in 2024.

TeraWulf stands out as a top-performing Bitcoin mining stock in 2024, up 70% YTD with 62.49% institutional ownership.

*Year-to-Date (YTD) Performance of the 10 Largest Public Bitcoin Mining Companies*

A New Approach to Analyzing Operational Efficiency of Bitcoin Mining Companies.

Discover how Bitcoin mining companies are navigating operational efficiency amid global layoff trends by examining their G&A expenses relative to revenue.

*Revenue and General & Administrative Expenses Info for Publicly Listed Bitcoin Mining Companies (Market Cap> $100m)*

Meet the Sealminer A2: Bitdeer's New ASIC in the Bitcoin Mining Arena.

This week, Bitdeer (Nasdaq: BTDR), a publicly listed firm in bitcoin mining and rig production, unveiled its latest product: the Sealminer A2.

'The Case for Bitcoin as a Reserve Asset' — Bitcoin Policy Institute

According to the paper, central banks collectively hold $2.2 trillion in gold as of Q1 2024 and continue to expand their gold allocations.

*Correlations between Bitcoin and other reserve assets. Source: Bitcoin Policy Institute.*

80% of Bitcoin ETF demand comes from retail investors: Binance

Retail investors, not institutions, have been responsible for most of the demand for spot bitcoin ETFs since their launch, says a new report from Binance.

*Retail investors account for nearly 80% of the total spot Bitcoin ETF AUM. Source: Binance*

Hacker behind fake Bitcoin ETF X post pleads not guilty

Reports from the courtroom suggested that prosecutors would offer a deal for Eric Council Jr., who allegedly helped compromise the SEC’s X account.

*The fake SEC X post — since removed — announcing the approval of spot Bitcoin ETFs. Source: US SEC/X*

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Chainlink Expands to Bitcoin, Helping Original Blockchain With Its Layer-2 Shift

Chainlink's service is an integral part of most major blockchains but has not featured on Bitcoin until now.

*Chainlink co-founder Sergey Nazarov. (Chainlink)*

Bitcoin Bill Clears Major Hurdle in Pennsylvania, Signaling Crypto Regulation Changes.

The Pennsylvania House of Representatives has overwhelmingly passed a bipartisan bill that protects the rights of residents to self-custody bitcoin and use it as a payment method, while establishing tax guidelines for bitcoin transactions.

Microsoft shareholder proposes firm look into investing in Bitcoin

Microsoft’s board is already recommending voting against it, arguing they already “evaluate a wide range of investable assets,” including Bitcoin.

*Item 5 stating the Microsoft board recommends shareholders to vote against a Bitcoin investment. Source: Securities and Exchange Commission*

Bitcoin could be used as currency by 2030 — CryptoQuant CEO

Bitcoin mining difficulty has surged by 378% over three years, signaling the potential for institutional-driven BTC stability by 2030.

*Chart depicting Bitcoin difficulty rising between 2010 and the fourth quarter of 2024. Source: CryptoQuant*

Cardano unlocks $1.3T Bitcoin liquidity with BitcoinOS bridge integration

Cardano taps BitcoinOS to integrate Bitcoin liquidity into its DeFi ecosystem using zero-knowledge cryptography for secure cross-chain functionality.

*Chart depicting Bitcoin’s market capitalization, currently around $1.3 trillion. Source: CoinMarketCap*

Ex-CEO Charged in Australia With Stealing $1.47M From Customer in Failed Bitcoin Deal.

Grant Colthup, the ex-CEO of a defunct Australian cryptocurrency exchange, is facing fraud charges. He’s accused of misusing $1.47 million intended for bitcoin purchases.

BTC Miner Core Scientific Expands Contract With Coreweave, Eyes $8.7B in HPC Revenue.

Core Scientific has revealed that Coreweave has chosen to expand its high-performance computing (HPC) infrastructure by another 120 megawatts (MW), pushing the total contracted capacity to around 500 MW.

Tesla reveals it didn’t sell any Bitcoin holdings in Q3

According to Tesla's Q3 financial filings, the company's automotive sales declined slightly since Q2 2024, while leases increased slightly.

*Tesla Q3 2024 balance sheet. Source: Tesla.*

Crypto academics slam controversial ECB paper blasting Bitcoin

The rebuttal critiques several arguments made by an ECB paper earlier this month that argued Bitcoin should be regulated or even banned.

*Decline in US dollar purchasing power since 2000. Source: Federal Reserve Bank of St. Louis*