Dear PointPay Family,
The week is ending, and it's time to reflect on its highlights. We’ve prepared a top 5 list of the most important, interesting, and unexpected news.
Bitcoin’s Surge to $99,500 Brings Six-Figure Milestone Within Reach
Bitcoin is edging closer to a historic milestone, reaching $99,505 during early trading in Asia on November 21. The cryptocurrency has soared 40% since Donald Trump’s re-election victory, adding $28,000 to its value in just weeks. Over the past year, Bitcoin has quadrupled in price, up from $28,000 in October 2023.
Bitcoin’s dominance now stands at 61.5%, the highest since March 2021, propelling the total cryptocurrency market capitalization to $3.28 trillion. While Bitcoin thrives, altcoins, including Ethereum, Dogecoin, and Shiba Inu, have faced declines, losing ground to the leading crypto.
MicroStrategy Targets $2.6 Billion to Expand Bitcoin Holdings
MicroStrategy plans to raise $2.6 billion through a convertible debt offering, increasing its original target of $1.75 billion. According to the company, proceeds will fund additional Bitcoin purchases and other corporate initiatives.
The firm, now among the top 100 US public companies, has witnessed a 100% surge in its stock value over the past month, outperforming giants like Nvidia. MicroStrategy remains the largest public holder of Bitcoin, boasting over 330,000 BTC valued at more than $30 billion.
Satoshi-Era Bitcoin Wallet Transfers $180 Million After 14 Years
A Bitcoin wallet dormant since 2010 moved 2,000 BTC—worth nearly $180 million—to Coinbase on November 15. This wallet, linked to Bitcoin’s early mining era, held coins when the cryptocurrency was valued under $0.10.
On-chain data reveals that other Satoshi-era wallets have become active in recent months, transferring millions in Bitcoin to exchanges. These movements suggest a trend toward monetizing long-held assets as Bitcoin's value reaches new heights.
Trump and Coinbase CEO Discuss Crypto Regulations in Private Meeting
President-elect Donald Trump met privately with Coinbase CEO Brian Armstrong, signaling his administration’s growing embrace of cryptocurrency. Discussions reportedly focused on regulatory clarity and appointments for Trump’s second term, with plans to establish a Bitcoin and cryptocurrency advisory council.
Trump, a former crypto skeptic, has positioned himself as a champion of digital assets, vowing to ensure the US leads in this sector. His evolving stance was underscored in a recent speech at the Bitcoin conference, promising support for the industry’s growth.
Trump Administration Eyes Crypto Tax Exemption to Boost Innovation
Reports suggest the Trump administration may eliminate capital gains taxes on US-registered cryptocurrencies. If enacted, the policy would exempt American investors from paying taxes on profits from eligible digital assets.
This initiative aims to attract significant investment into US-based cryptocurrencies while positioning the nation as a leader in blockchain innovation. Foreign entities could also qualify by relocating to the US, further enhancing the country’s competitiveness in the digital economy.
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