FameEX Morning Crypto News Recap | January 4, 2024
Peter Schiff Predicts Minimal Institutional Interest and Speculator Sell-Off with Spot Bitcoin ETFs
Economist Peter Schiff believes that the approval of spot Bitcoin ETFs by the U.S. SEC will not significantly impact the market. He argues that Bitcoin ETFs are unnecessary because individuals can easily purchase and store Bitcoin independently at no cost. Schiff predicts low investor demand for these ETFs and speculators to sell off their holdings after the approval, resulting in a muted market response.
Unknown Wallet Surges into Top 10 Bitcoin Holders with 8,888 BTC Gained on New Year's
An anonymous wallet's ascent to the tenth-largest Bitcoin holder came after acquiring 8,888 Bitcoins by year-end, now holding about 66,465.20 Bitcoins worth nearly $3 billion. This wallet boasts unrealized profits exceeding a billion dollars, with an average entry point at around $25,000, according to X accounts.
Jim Cramer Affirms Bitcoin's Resilience as a Lasting Technological Marvel
Jim Cramer, host of CNBC's Mad Money, expressed optimism about Bitcoin, emphasizing its resilience as a "technological marvel" that is here to stay. He disagreed with Charlie Munger's negative views on Bitcoin, asserting that the cryptocurrency cannot be easily dismissed and should be acknowledged as a lasting innovation.
Matrixport Report Predicts Unlikelihood of SEC Approving Spot Bitcoin ETFs in January, Anticipates Price Dip Below $40,000
Matrixport, a crypto financial platform, predicts that the U.S. SEC is unlikely to approve a spot Bitcoin exchange-traded fund (ETF) in January. Their report suggests that Bitcoin's price may decline to the $36,000-$38,000 range in response to this anticipated lack of approval by the SEC.
Cipher Mining Acquires 16,700 New Miners in Preparation for Bitcoin Halving
Cipher Mining plans to expand its mining capabilities by deploying the latest Avalon A1466 miners at its Texas-based Bear and Chief Mountain facilities in the second quarter. This move will increase the firm's self-mining capacity to a total of 8.4 exahashes per second (EH/s), as confirmed in their announcement on January 3rd.
NFT Projects Commence Distributing 'Free' Company Equity to Token Holders
Over the holidays, founders of two NFT collections revealed plans to distribute company equity to NFT holders. Despite potential legal and regulatory concerns, the founder asserts its legality since the shares were not sold. Legal consultations were undertaken, and NFT holders were reportedly not anticipating equity when purchasing their NFTs.
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