Bitcoin: Stacking sats in your portfolio? Expect this in coming months

Over the past few months, the crypto market witnessed a severe downfall, marking the year's lowest in mid-June. The king of all cryptos' Bitcoin, also could not evade the effects of the crash and touched its 2022 low of $17,700 on 20 June.

Timeline of Bitcoin

The Commodity Futures Trading Commission (CFTC) has filed charges against Rathnakishore Giri and his firms, NBD Eidetic Capital, LLC and SR Private Equity, LLC, alleging digital asset trading ploy that pilfered $12 million from unsuspecting investors.

This past April, records show that 19 million bitcoins have been mined into existence and 133 days later, there are 1.88 million bitcoins left to mint today. The network's block subsidy halving is expected to occur on or around April 20, 2024, as there are less than 91,000 bitcoins left to mine until that point.

On-chain data shows Bitcoin exchange inflows from whales holding between 1k to 10k BTC have spiked up recently, a sign that can be bearish for the price of the crypto. Bitcoin Exchange Inflows Spike Up Following Rally Above $24k As pointed out by a CryptoQuant post, the BTC whales with between 1k to 10k BTC seem to have sent a large stack to exchanges recently.

Panama's “bitcoin (BTC) and crypto-friendly” bank Towerbank says it will bar its customers from making use of crypto mixers – in the wake of the United States Office of Foreign Assets Control (OFAC)'s move to sanction Tornado Cash earlier this month.

The world's largest asset manager just launched a private trust that tracks the performance of Bitcoin (BTC) for wealthy clients. In a statement, BlackRock says that the spot Bitcoin private trust will cater to institutional clients in the United States.

Cypherpunk Holdings, a Canadian-based financial firm, sold off 100% of its Bitcoin holdings in the wake of blistering crypto winter, but the firm says it remains 100% bullish on the asset.

The bitcoin mining industry continues to expand as companies are obtaining more megawatts of capacity, building new facilities, and acquiring thousands of application-specific integrated circuit (ASIC) mining rigs. On Friday, the firm Validus Power revealed it has acquired two natural gas power stations in Ontario, Canada, that will become crypto mining facilities.

Ethereum is outperforming Bitcoin ahead of The Merge in September, with the second largest cryptocurrency by market cap rising 61% against Bitcoin since June. The post Ethereum leads the charge against Bitcoin, rising 61% since June — Flippening price target at $3,750 appeared first on CryptoSlate.

An Ohio man is accused of fraudulently soliciting funds for digital asset trading in a new CFTC civil enforcement action. The post CFTC accuses Ohio man of operating $12 million ‘bitcoin Ponzi scheme' appeared first on The Block.

SkyBridge Capital CEO Anthony Scaramucci says investors would do well if they looked at Bitcoin (BTC/USD) and Ethereum (ETH/USD) – the two top cryptocurrencies in the market by market cap – as long term investments. Scaramucci, the founder of the US-based investment management firm, shared these views during an interview with CNBC's ‘Squawk Box.