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Monday Markets: Bitcoin Reclaims $19K

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Good morning. Welcome to the first edition of Monday Markets, part of our new series: BitPinas Daily. We will look at the price of Bitcoin, Ethereum and the major cryptocurrencies. Crypto is global, but sometimes news that matters happens while we sleep. So we bring to you what’s happening in our space here and abroad. 

Market Price as of December 14, 2020:

Bitcoin $19,084 1.1%
Ethereum $587.46 3.1%
XRP $0.50 0.2%
Tether $0.99 (-0.3%)
Litecoin $81.67 6.2%

Bitcoin closed Sunday, at $19,089 per BTC. We’re down 1.3% in the last  7 days and 166% since the year began. This is also 3.4% below the previous all-time high of $19,832 on December 1, 2020.

Bitcoin’s market capitalization stands today at $353,944,136,300, which is 61.45% of the entire cryptocurrency market.

Table of Contents.

Bitcoin:

MicroStrategy completes $650 million debt offering to fund bitcoin buys

Last Friday, MicroStrategy said it has completed raising $650 million through a senior convertible note offering so that it has more money to buy bitcoin. These notes were sold to “qualified institutional investors.”

Buying bitcoin is in accordance to the company’s Treasury Reserve Policy.

The company, which sells business intelligence software now holds more than $40,000 BTC. (TheBlock)

Satoshi Nakamoto

10 years after the Bitcoin creator logged off for good

December 12, 2020 was the last time Bitcoin’s anonymous creator posted on the BitcoinTalk forum. 

The post was about preventing Denial-of-Server (DoS) attacks to the Bitcoin network. 

Custody

Fidelity’s CEO said its custody business around bitcoin has been incredibly successful

Fidelity is on the business of bitcoin custody. That is, they act as caretaker of another person or entity’s (usually an institutional investor’s) bitcoin. 

According to Fidelity Investments CEO Abby Johnson, the cryptocurrency industry’s moving rapidly, it was hard to keep track of everything that is happening. She also said things that were just being talked about in the past has become a reality.

“If you had asked me at the beginning, if we or anybody was going to be prioritizing custody of bitcoin I would have said ‘No way. I mean that’s kind of the opposite of what it’s all about.’ But the reality is that you do need it because if you’re an individual who engages an advisor and you want to make an estate plan you actually need someone to custody your bitcoin,” Johnson said. (Coindesk)

The Best of Crypto PH:

Lorne Lantz, founder of Breadcrumbs, an app to track Etherereum transactions has co-written a book while here in Manila. 

The book, “Mastering Blockchain,” is now out and will have a book launch hosted by Coindesk on December 15. 

What Else is Happening?

  • DeFi Game Aavegotchi prepares for mainnet launch on Jan. 4. (Coindesk)
  • FinCEN encourages banks to share customer information with each other. (Coindesk)
  • CNBC host Jim Kramer said his Bitcoin portfolio is getting bigger. (Cointelegraph)
  • Digital artist Beeple sold $582,000 of crypto art in 5 minutes. (Decrypt)

This article is published on BitPinas: Monday Markets: Bitcoin Reclaims $19K

Please share and grow the BitPinas community.

Source: https://bitpinas.com/news/monday-markets-bitcoin-reclaims-19k/

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