Crypto

Key Points

• Strategy (formerly MicroStrategy) added 130 Bitcoin to its holdings, spending $10.7 million at an average price of $82,981 per BTC.
• The acquisition was financed through the sale of 123,000 shares of its 8.00% Series A perpetual strike preferred stock (STRK), avoiding dilution of Class A common stock.
• As of March 16, Strategy holds 499,226 BTC, representing over 2% of Bitcoin's total supply, with a current market value of approximately $41.6 billion.

Summary

Strategy, previously known as MicroStrategy, has continued its aggressive Bitcoin acquisition strategy by purchasing an additional 130 BTC for $10.7 million at an average price of $82,981 per BTC. This latest acquisition was funded through the sale of preferred stock (STRK), which offers an 8% yield to investors, rather than issuing more Class A common stock, thereby avoiding dilution of voting rights for existing shareholders. The company's total Bitcoin holdings now stand at 499,226 BTC, valued at around $41.6 billion, representing over 2% of the total Bitcoin supply. This move underscores Strategy's commitment to Bitcoin as a treasury reserve asset, with co-founder Michael Saylor highlighting the firm's Bitcoin yield of 6.9% year-to-date for 2025. Despite this strategic investment, Strategy's shares experienced a slight dip in pre-market trading.

Key Points

• Lazarus Group holds over 13,500 BTC, surpassing the Bitcoin holdings of Bhutan, El Salvador, and Finland.
• The group's total crypto assets are valued at $1.16 billion, including significant Ethereum holdings.
• In February 2025, Lazarus Group executed the largest crypto heist, stealing $1.46 billion from Bybit, mostly in ETH.
• Despite its large holdings, Lazarus Group is still behind major countries and companies in terms of Bitcoin ownership.

Summary

The Lazarus Group, a notorious North Korean hacking organization, has amassed a significant amount of cryptocurrency, holding over 13,500 BTC and 13,700 ETH, with a total value of $1.16 billion. This makes them a leading Bitcoin holder, surpassing the holdings of countries like Bhutan, El Salvador, and Finland. Their wealth was significantly boosted by a massive heist in February 2025, where they stole $1.46 billion in crypto assets, primarily Ethereum, from the UAE-based Bybit exchange. Despite converting much of their loot into Bitcoin, the group's holdings are still dwarfed by those of major countries like the United States and China, as well as companies like MicroStrategy and Block.one. The Lazarus Group's activities have not ceased, as evidenced by a recent hacking attempt on the Seychelles-based OKX exchange, leading to temporary service disruptions. This ongoing criminal activity highlights the persistent threat posed by such groups to the cryptocurrency ecosystem.

Key Points

• Gold has hit an all-time high of $3,000 per ounce, driven by economic uncertainty and market corrections.
• Bitcoin, often called "digital gold," is seen by some investors as a superior store of value due to its scarcity and decentralized nature.

Summary

The article discusses the ongoing debate between gold and Bitcoin as safe-haven investments amidst economic uncertainty. Gold has recently reached an unprecedented price of $3,000 per ounce, reflecting its status as a traditional safe-haven asset during times of market turmoil. Conversely, Bitcoin, dubbed "digital gold," is gaining traction among investors for its unique attributes like a capped supply, decentralization, and resistance to inflation through its halving mechanism. Despite these features, Bitcoin's performance as a hedge against economic downturns has been inconsistent, particularly when compared to gold's historical stability. Over the past year, while Bitcoin ETFs have shown superior performance in flat or rising markets, they have underperformed gold ETFs during negative market conditions. This has led to skepticism about Bitcoin's effectiveness as a recession hedge, especially if it continues to correlate with equity markets. The article concludes that until Bitcoin can demonstrate a lower correlation with stocks, gold remains the more reliable hedge against economic downturns.

Key Points

• US Bitcoin ETFs experienced their longest run of weekly net outflows since January last year.
• Over $5.5 billion was pulled from 12 ETFs over the past five weeks.
• The outflows started after Trump's return to the White House, highlighting the impact of his trade war on crypto investments.

Summary

US Bitcoin exchange-traded funds (ETFs) have seen their longest streak of weekly net outflows since their inception in January last year, driven by President Donald Trump's tariffs and a broader retreat from riskier assets. Over the past five weeks, investors have withdrawn more than $5.5 billion from a group of 12 ETFs, according to Bloomberg data. This trend began shortly after Trump returned to the White House, indicating that even crypto investors are more focused on the trade war he initiated than on his crypto-friendly policies. Greg Magadini from Amberdata noted that Bitcoin and other cryptocurrencies are currently driven by macroeconomic factors, with no immediate expectation of divergence from risk-assets. Despite reaching record highs post-Trump's November election victory, Bitcoin has struggled in 2025, declining by about 12% year-to-date, and was trading around $83,500 as of the latest report.

Key Points

• Binance's BNB surged after reports of potential Trump family investment and stablecoin development, despite denials from Binance's founder.
• TRUMP token experienced a significant drop, losing nearly half its value in a month, reflecting a decline in meme coin popularity.
• XRP gains attention due to potential resolution in SEC lawsuit against Ripple.
• Bitcoin sees a minor recovery but remains down significantly from the start of the year, affected by market chaos and tariffs.
• Cronos rises slightly after a vote on reissuing burned tokens.

Summary

The cryptocurrency market is experiencing turbulence influenced by President Trump's trade policies and potential business dealings with the Trump family. Binance's BNB saw an 8% increase following rumors of a Trump family investment in Binance U.S., despite denials from Binance's founder. Conversely, the TRUMP token has plummeted by nearly 48% over the past month, indicating a shift away from meme coins. XRP is in the spotlight due to ongoing legal battles with the SEC, potentially nearing a resolution. Bitcoin, after dipping below $80,000, has shown a minor recovery but remains down 10.9% from the year's start, reflecting broader market instability. Meanwhile, Cronos gained attention with a small price increase after a vote on reissuing burned tokens. These movements illustrate the volatile nature of cryptocurrencies amidst political and economic uncertainties.

Key Points

• South Korea's central bank, the Bank of Korea (BOK), has explicitly stated it will not include bitcoin in its foreign exchange reserves due to its price volatility.
• The BOK highlighted that bitcoin does not meet the IMF's standards for managing foreign exchange reserves, particularly in terms of liquidity, market, and credit risks.

Summary

The Bank of Korea (BOK) has firmly rejected the idea of incorporating bitcoin into its foreign exchange reserves, as reported by the Korea Economic Daily. This decision was communicated in response to an inquiry from a member of the National Assembly's Strategy and Finance Committee. The BOK's primary concern revolves around bitcoin's extreme price volatility, which could lead to significant transaction costs and pose a risk to the stability of its reserves. Furthermore, the central bank noted that bitcoin does not align with the International Monetary Fund's (IMF) criteria for reserve management, which stress the importance of managing liquidity, market, and credit risks effectively. Despite South Korea's vibrant cryptocurrency market, where billions are traded daily, the BOK remains cautious, emphasizing the need for stability and reliability in its reserve assets.

Key Points

• OKX has suspended its DEX aggregator service following scrutiny from European regulators over its use by hackers to launder $100 million from a $1.5 billion heist on Bybit.
• The suspension was announced after consultations with regulators to implement upgrades and prevent further misuse.
• The February hack on Bybit was linked to North Korea and was one of the most sophisticated attacks in the crypto industry.
• OKX and Bybit are in dispute over the role of OKX's Web3 service in the laundering of the stolen assets.

Summary

OKX, a digital-asset exchange, has temporarily suspended its DEX aggregator service after it was implicated in laundering proceeds from a $1.5 billion heist on Bybit, a rival trading platform. The decision came after European regulators, particularly those from the EU's 27 member states, raised concerns about the misuse of OKX's Web3 service by hackers, who are believed to be linked to North Korea. The February hack was noted for its sophistication and scale, making it one of the largest in the cryptocurrency sector. Following a Bloomberg News report highlighting the issue, OKX announced the suspension to upgrade its systems and prevent further misuse. The dispute between OKX and Bybit centers on the specifics of how the stolen funds were laundered, with Bybit's CEO claiming that OKX's platform was used to funnel $100 million of the hacked funds, a claim OKX disputes. This situation underscores the regulatory challenges and security issues within the burgeoning crypto industry.

Key Points

• Bitcoin has outperformed the S&P 500 by a significant margin over the last decade, with a total return of 29,690% compared to the S&P 500's 224%.
• The cryptocurrency has gained mainstream acceptance, with corporations like Tesla and countries like El Salvador adopting it, and the SEC approving spot Bitcoin ETFs.
• The U.S. government's creation of a Bitcoin Strategic Reserve signals a positive outlook for Bitcoin's future, reducing the risk of a ban.

Summary

Over the past decade, Bitcoin has shown remarkable growth, outpacing traditional investments like the S&P 500 with a staggering 29,690% return. Despite its volatility, Bitcoin has become increasingly mainstream, evidenced by its adoption by corporations and countries, and the recent approval of spot Bitcoin ETFs by the SEC. This mainstream acceptance has been further solidified by the U.S. government's establishment of a Bitcoin Strategic Reserve, which not only reduces the risk of a potential ban but also positions Bitcoin as a legitimate financial asset. The fixed supply of Bitcoin, akin to gold's scarcity, supports its potential as a store-of-value asset. While Bitcoin's past performance suggests significant future growth, the article suggests a more conservative outlook for the next decade, predicting substantial but not exponential growth. This shift in perception from a risky asset to a recognized investment vehicle underscores Bitcoin's evolving role in the global financial landscape.

Key Points

• Bitcoin's price pullback could accelerate below $80K due to weak economic activity in the $70K to $80K range last year.
• The rapid price surge after Trump's election left a supply gap, with little trading activity between $70K and $80K.
• Approximately 20% of Bitcoin's total supply is currently at a loss, potentially increasing selling pressure below $80K.

Summary

Bitcoin's price dynamics are currently under scrutiny as on-chain analysis from Glassnode suggests a potential acceleration in its price pullback below $80,000. The analysis highlights a significant supply gap between $70,000 and $80,000, where trading activity was minimal following a rapid price increase after Donald Trump's election victory. This gap indicates that there are fewer holders with acquisition costs in this range, reducing the likelihood of bargain hunting and thus providing little support for the price. Moreover, with about 20% of Bitcoin's supply currently at a loss, there's an increased risk of selling pressure if the price dips below $80,000. This situation is compounded by the fact that around 100,000 BTC have already been sold by short-term holders due to the recent price correction, contributing to a 30% drop from Bitcoin's all-time high of $108,000.

Key Points

• A Bitcoin whale has opened a 40x leveraged short position worth over $368 million, betting on Bitcoin's price decline.
• The position was opened at $84,043 and faces liquidation if Bitcoin's price exceeds $85,592.
• The whale has made over $2 million in unrealized profit but incurred a $200,000 loss in funding fees.
• The bet comes ahead of significant macroeconomic events, including the FOMC meeting on March 19.

Summary

A Bitcoin whale has made a bold move by betting over $368 million on a short-term decline in Bitcoin's price, leveraging the position 40 times. This high-stakes bet was initiated at a Bitcoin price of $84,043, with the potential for liquidation if Bitcoin's price rises above $85,592. Despite the risks associated with leveraged trading, the whale has already seen over $2 million in unrealized profits, although this is offset by a $200,000 loss in funding fees. The timing of this bet is critical as it coincides with a week filled with key economic reports, including the Federal Open Market Committee (FOMC) meeting, which could sway investor sentiment towards risk assets like Bitcoin. Analysts suggest that Bitcoin needs to close above $81,000 weekly to avoid significant downside volatility, highlighting the market's sensitivity to macroeconomic developments and the potential impact of the FOMC's decisions on cryptocurrency prices.

Key Points

• Bitcoin traders and analysts are eyeing potential BTC price targets as market sentiment fears sub-$70,000 levels.
• The Federal Reserve's interest rate decision is a focal point for traders, with expectations of no immediate rate cuts.
• Recent Bitcoin buyers are showing signs of holding onto their investments, indicating market stability.
• Historical analysis suggests Bitcoin could reach $126,000 by June, with April being a historically strong month for Bitcoin.

Summary

Bitcoin is entering a week marked by cautious optimism as it approaches the Federal Open Market Committee (FOMC) meeting, with the market closely watching for any dovish signals from Fed Chair Jerome Powell. Despite recent dips, Bitcoin has maintained support at around $80,000, with traders and analysts suggesting potential liquidity grabs at higher levels, possibly reaching $87,000. The market's attention is on the Fed's decision, with expectations leaning towards maintaining current interest rates, although any hint of quantitative easing could significantly boost market sentiment. Meanwhile, newer Bitcoin investors are showing resilience by holding onto their investments, which could signal a market bottom and set the stage for future price increases. Historical data and seasonal trends suggest Bitcoin might hit new all-time highs by June, with a target of $126,000. Social media analysis indicates that the $70,000 level is a key threshold for market sentiment, with fear and greed indices showing a cautious but not overly fearful market.

Key Points

• Crypto ETPs experienced $1.7 billion in outflows last week, marking the fifth consecutive week of outflows.
• The ongoing outflow strike has lasted for 17 straight days, the longest since records began in 2015.
• Despite the negative sentiment, year-to-date inflows remain positive at $912 million.
• Bitcoin ETPs saw the largest outflows, totaling $5.4 billion over five weeks.
• XRP ETPs were an exception, seeing inflows of $1.8 million.

Summary

Cryptocurrency exchange-traded products (ETPs) have been witnessing significant outflows, with last week alone seeing $1.7 billion exiting the market, marking the fifth week in a row of such activity. This ongoing trend has now extended to 17 consecutive days of outflows, the longest streak since CoinShares began tracking in 2015. Despite the negative market sentiment, the year-to-date inflows are still positive, standing at $912 million. Bitcoin ETPs have been particularly hard hit, with outflows reaching $5.4 billion over the past five weeks, significantly reducing the year-to-date inflows to just $612 million by March 14. Other assets like Ether and Solana also saw outflows, while XRP ETPs bucked the trend with minor inflows. This situation reflects a broader market sentiment shift, possibly influenced by various external economic factors or regulatory news, although specific reasons for the outflows were not detailed in the report.

Key Points

• Web3's metadata problem is intensifying, risking a global data security crisis.
• Anonymity networks and new technologies are proposed as solutions to protect users from AI-powered surveillance.
• Metadata, the overlooked raw material of AI surveillance, can reveal patterns of behaviors and personal details, making it a significant vulnerability.
• Blockchain technology, despite its promise of decentralization, does not inherently protect metadata, leading to potential de-anonymization of financial transactions.
• New anonymity networks and noise networks are suggested to scramble metadata and reduce surveillance risks.

Summary

Casey Ford, a researcher at Nym Technologies, discusses the escalating metadata problem within Web3, which threatens to precipitate a global data security crisis. Despite the growth of decentralized applications and the promise of blockchain technology, the inherent vulnerability lies in metadata surveillance, which even decentralized networks are susceptible to. AI technologies are increasingly used to analyze this metadata, revealing detailed patterns of user behavior and personal information. Ford highlights that while blockchain transactions are pseudonymous, they do not provide true anonymity, as metadata like IP addresses can still be used to track and identify users. The article suggests that anonymity networks and advanced technologies like noise networks could offer protection by obscuring metadata patterns, making surveillance efforts less effective. Ford emphasizes the urgency of implementing these solutions to prevent the exploitation of user data in an era where AI and machine learning are becoming more pervasive.

Key Points

• Bitcoin could reach a new all-time high by June, with a median target of $126,000.
• April and October are historically the best months for Bitcoin's annual performance.
• Bitcoin's recent 30% drop is seen as a standard bull market correction.
• A new price floor at $69,000 has a 95% chance of holding, according to Peterson.

Summary

Bitcoin is poised for a potential bull market comeback, with network economist Timothy Peterson predicting that the cryptocurrency could hit new all-time highs by June this year. Historical data suggests that Bitcoin's best performance occurs in April and October, with Peterson setting a median target of $126,000 for June 1. Despite a recent 30% decline from its mid-January peak, this drop is considered typical of bull market corrections. Peterson's analysis, supported by his Lowest Price Forward metric, indicates that Bitcoin has established a new price floor at $69,000, which has a high probability of holding. Other market commentators agree that such corrections are part of the cycle, with five major pullbacks noted since early 2023. This perspective is echoed by analysts at Bitfinex, who view the current market conditions as a "shakeout" rather than the end of the cycle.

Key Points

• Jameson Lopp, chief security officer at Casa, argues against quantum recovery of lost BTC, advocating for burning these coins to protect Bitcoin's integrity.
• Lopp believes that allowing quantum recovery would violate Bitcoin's principles of censorship resistance, transaction immutability, and conservatism.
• He warns that quantum recovery could lead to wealth redistribution from those unaware of quantum technology to those who possess it.

Summary

Jameson Lopp, the chief security officer at Bitcoin custody company Casa, has voiced strong opposition to the idea of using quantum computers to recover lost Bitcoin (BTC). In a recent article, Lopp argues that allowing such recovery would undermine the fundamental properties of the Bitcoin network, including its resistance to censorship, the immutability of transactions, and its conservative approach to changes. He describes quantum recovery as a form of wealth redistribution, where those with access to quantum technology could gain at the expense of those without, potentially destabilizing the network's security. This debate comes amidst ongoing discussions about the threat quantum computers pose to modern encryption, with varying opinions on the timeline and feasibility of such technology. Despite claims by researchers at Shanghai University in October 2024 about breaking encryption standards, skepticism remains, with some like YouTuber "Mental Outlaw" arguing that the capabilities of quantum computers are still far behind classical computers in terms of encryption key sizes.

Key Points

• Bitcoin and XRP both experienced significant drops during the 2020 market crash but recovered over time.
• Bitcoin has shown slightly better performance and less volatility than XRP post-crash.
• XRP's value is tied to its utility as a medium of exchange, which could decrease during economic uncertainty.
• Bitcoin's value is more as a store of value due to its scarcity, making it potentially more resilient in a crash.

Summary

The article discusses the comparative resilience of Bitcoin and XRP during market downturns, particularly focusing on their performance during the 2020 market crash triggered by the coronavirus. Both cryptocurrencies saw substantial declines but later recovered, with Bitcoin showing a slightly better recovery and less volatility. XRP's value is largely dependent on its utility in financial transactions, which might diminish during economic downturns as financial institutions reduce international transfers. Conversely, Bitcoin's value is seen more as a store of value due to its decreasing supply, suggesting it might hold up better in a crash scenario. The article suggests that while no one can predict the next market crash, Bitcoin appears to be the safer bet for investors looking to weather economic storms, due to its inherent scarcity and the likelihood of demand returning post-crash. However, it also advises keeping some capital on hand for potential buying opportunities during downturns.