Top 5 Crypto News of the Week! (28 October - 03 November)
Dear PointPay Family,
The week has come to an end and it's time to take stock of it! Find out about all the most interesting, unusual and important news from the last seven days in our Top 5 news.
Switzerland Honors Bitcoin's Founder with Unique Statue Unveiling
At the third annual Plan ₿ Forum in Lugano, Switzerland, a bronze statue dedicated to Bitcoin's creator, Satoshi Nakamoto, was unveiled as a tribute to decentralization and financial sovereignty. Organized by Plan ₿ with support from the City of Lugano and Tether, the event brought together blockchain industry figures and government officials. Created by artist Valentina Picozzi, the statue captures Nakamoto's legacy and enigmatic nature, even appearing to disappear as the viewer’s angle shifts—an homage to Nakamoto’s own departure from the public eye in 2010.
Bitcoin Reaches $73,000 Amid ETF Investment Boost
Bitcoin's price surged past $73,000 today for the first time since March 2024, approaching its all-time high, according to Binance. This rally has been partly driven by inflows into U.S. spot ETFs, which saw $417 million in new investments on Monday, with BlackRock's iShares Bitcoin Trust (IBIT) attracting $315 million. The influx raised IBIT's assets under management to $28 billion, with the fund gaining 3.1% today, according to CoinDesk.
MicroStrategy Plans Massive $42 Billion Bitcoin Investment
Tech firm MicroStrategy announced its ambitious plan to invest $42 billion in Bitcoin, working with banks to raise funds by selling $21 billion in stocks and an additional $21 billion in fixed-income securities. While the company’s strategy centers on Bitcoin acquisitions, it remains unclear if the entire amount will go into cryptocurrency. Since its initial investment in 2020, MicroStrategy has amassed 252,220 BTC worth $18.3 billion, netting the firm an unrealized gain of 84%.
Record $872 Million Inflows to BlackRock’s Bitcoin ETF
BlackRock’s iShares Bitcoin Trust saw record daily inflows on October 30, with over $872 million pouring into the spot Bitcoin ETF, setting a new high above the previous peak of $849 million recorded in March.
16th Anniversary of Bitcoin White Paper Celebrated Worldwide
October 31 marks the 16th anniversary of the publication of Bitcoin’s white paper by the mysterious Satoshi Nakamoto. The groundbreaking document outlined a decentralized peer-to-peer payment system that reshaped financial technology. To this day, Nakamoto’s identity remains unknown, whether a single individual or a team, leaving an enduring mystery at the heart of the now multi-billion dollar crypto industry.
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