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Crypto News

Strategy Purchases $2.13 Billion of Bitcoin, the Most in Seven Months

Michael Saylor’s Strategy Inc. acquired almost $2.13 billion in Bitcoin over the previous eight days, marking the digital asset treasury company’s largest purchase of the original cryptocurrency since July.

The former MicroStrategy bought 22,305 Bitcoin between Jan. 12 and Jan. 19, according to a regulatory filing on Tuesday. The majority of the most recent acquisitions were made using proceeds from at-the-market sales of its Class A common stock.

Coinbase’s Armstrong Optimistic on Crypto Legislation Despite Pulling Support Earlier

Coinbase Global Inc.’s Brian Armstrong still sees a path for the US to pass comprehensive crypto legislation even after helping to derail a bill last week just before it reached a key Senate committee over concerns around a host of issues.

Armstrong, the co-founder and chief executive officer of the largest US crypto exchange, pulled support for the latest draft of digital asset market structure legislation in a Jan. 14 social media post. Within hours of Armstrong’s post, Senate Banking Chairman Tim Scott announced he would postpone a planned markup. Armstrong said the draft he opposed contained “too many giveaways to tradfi,” in an interview with Bloomberg News at the World Economic Forum in Davos.

Bitcoin drop to $89,000 leads to $1 billion liquidations for bullish BTC bets

Bitcoin fell below the $90,000 level on Tuesday as a sharp shift in global risk sentiment triggered a wave of forced selling across crypto markets, wiping out more than $1 billion in leveraged bullish bets.

Data from CoinGlass showed that 183,066 traders were liquidated over the past 24 hours, with total liquidations reaching $1.09 billion.

Bitcoin Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Tuesday was $483.38 million. The total net asset value of Bitcoin spot ETFs is $116.73 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.51%.

The Bitcoin spot ETF with the highest net outflow on Jan. 20 was Grayscale Bitcoin Trust , with a net outflow of $160.84 million.