Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.
Bitcoin Drops Below $104,000 with a 2.44% Decrease in 24 Hours
According to Binance Market Data, Bitcoin (BTC) dropped below $104,000 and is now trading at $103,555, with a 2.44% decrease in 24 hours.
Donald Trump Reportedly Plans to Leverage $200 Billion US Treasury Fund for Bitcoin Reserves
US President-elect Donald Trump is reportedly considering an Executive Order to establish a Strategic Bitcoin Reserve (SBR), according to Satoshi Act Fund founder Dennis Porter.
On Dec. 15, Porter shared on social media platform X (formerly Twitter) that Trump plans to use the Treasury’s Exchange Stabilization Fund (ESF) to implement this strategy after his inauguration.
The ESF, typically reserved for stabilizing financial markets during crises, has total assets of more than $200 billion as of October 2024. Historically, the fund has played a key role during events like the 2008 financial meltdown and the COVID-19 pandemic.
Bitcoin Predicted to Surpass Gold's Market Value Within Eight Years
According to Odaily, Mike Novogratz, the founder and CEO of Galaxy Digital, has expressed his belief that Bitcoin could match and eventually surpass the market value of gold within the next five to eight years. This prediction was made in response to an article by Alex Thorn, the Head of Research at Galaxy, which highlighted that Bitcoin's market capitalization has reached 14% of gold's $17.8 trillion market value, marking a historic high.
Deutsche Bank Tries to Tackle Compliance Hurdles for Public Blockchains
Deutsche Bank AG is working on a fix for the regulatory challenges financial institutions face when trying to use public blockchains, such as the risk of inadvertently transacting with criminals or sanctioned entities.
The bank in November unveiled a test version of Project Dama 2, an asset-servicing pilot. The platform includes a so-called Layer 2 — a tool that draws on public blockchains while offering cheaper and more efficient transactions.
If BTC Prices Continue to Rise, MicroStrategy's Market Value May Surpass Starbucks and Nike
As Cointelegraph reported, MicroStrategy stock has risen 546% this year, with a market value of $99.4 billion. Its holdings of 439,000 BTC are the main reason.
If the price of Bitcoin reaches $138,000, MicroStrategy's market value will surpass Starbucks and Nike. Every time the price of Bitcoin fluctuates by $1,000, MSTR's market value changes by about $440 million.
MicroStrategy’s net asset value is approximately $40 billion, with a fully diluted market cap of $114 billion. Its debt is $7 billion, and its BTC holdings are worth approximately $47 billion.
Quantum Computers Seen Five Years Away from Breaking Bitcoin: ‘The Threat Is Real’
Superfast computers that exploit quantum mechanical phenomena have long posed a theoretical threat to the encryption that underpins much of the $3.8 trillion crypto industry.
That threat edged closer last week when Google unveiled its new quantum computing chip Willow, which boasts a 56% improvement over the tech giant’s previous chip.
“We are about five years away from commercial quantum computers being able to break the elliptic curve keys that secure Bitcoin wallets,” said Pierre-Luc Dallaire-Demers, a scientist-in-residence at the University of Calgary.
Bitcoin Spot ETF Flow
The Bitcoin spot ETF with the highest net inflow on Dec 17 was iShares Bitcoin Trust, with a net inflow of $741.41 million. Following that was Grayscale Bitcoin Mini Trust, with a net inflow of 3.78 million, according to SoSoValue.
As of now, the total net asset value of Bitcoin spot ETFs is $121.68 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.76%.
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