🔴 Countdown to ETFs | This Week in Crypto – Jan 8, 2024

Bitcoin starts the year with a boost, Michael Saylor sells stock to buy more Bitcoin And one blockchain is about to buy a memecoin?! These stories and more, this week in crypto. Hi, I’m Nate Martin from 99Bitcoins.com, And here’s what’s happened this week in crypto. Bitcoin started the new year on an impressive rise, Amid optimism for anticipated ETF approvals, A higher risk appetite driven by rate cuts, And the halving quickly approaching. BTC reached a 21-month peak Of just below $46000 on Tuesday, Before pulling back a bit. Bitcoin closed out the year with a gain of 156% In its strongest yearly performance since 2020. U.S. investment firms, stock exchanges, And the SEC finalized applications for spot bitcoin ETFs, With the anticipation from many That they are securing regulatory approval. The SEC commissioners are expected to vote On the filings this week, As January 10 is the deadline for approval For ARK Invest and 21Shares products. However, sources emphasized the confidentiality of ongoing talks. After J.P. Morgan and Jane Street, Another leading investment bank, Goldman Sachs Is in talks to become an authorized participant For spot bitcoin ETFs, For institutions like BlackRock and Grayscale. Authorized participants have the right to create And redeem shares of a spot Bitcoin ETF, A product for which 14 asset managers Are awaiting SEC approval. Ethereum co-founder Vitalik Buterin

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Unveiled Ethereum’s 2024 roadmap, Highlighting six core aspects. The Merge, which integrated the proof-of-stake consensus, Remains the key focus With its simplicity and durability. Additionally, Buterin wants to bring back The original idea of the cypherpunk revolution For the blockchain with more privacy solutions. A U.S. bankruptcy judge gave a green light For Celsius Network's move into Bitcoin mining, Allowing for a shift from their previously approved bankruptcy strategy. Celsius, one of several crypto lenders going bankrupt in 2022, Had to alter its plans After the SEC rejected the initial proposal. The judge ruled that The approved bankruptcy plan from November Was flexible enough to accommodate For the transition to Bitcoin mining As a backup strategy. MicroStrategy's co-founder, Michael Saylor, Intends to sell $216 million in company stock options, And use the proceeds to buy more Bitcoin For his personal holdings. Saylor plans to exercise and sell 5,000 shares daily From January 2nd through April 25th, Aiming to address personal commitments And increase his Bitcoin holdings before his stock options expire. The Avalanche Foundation is considering buying memecoins In its 'Culture Catalyst' initiative. Inspired by recent token surges on Solana, Like BONK and Dogwifhat, The idea is to support internet culture-inspiring coins That go beyond utility assets. The move aligns with the Foundation's commitment

To diversifying its portfolio to encompass NFTs, RWAs, And various crypto assets; Fostering broader engagement in the Avalanche ecosystem. 15 years ago, Satoshi Nakamoto mined Bitcoin's genesis block, Marking the start of the cryptocurrency era. Celebrated annually on January 3rd, This milestone reflects Bitcoin's profound impact on finance. After 15 years, BTC's market cap sits at nearly $900 billion, And has spawned a $1.8 trillion crypto ecosystem, Reshaping digital assets and global financial markets. That’s what’s happened this week in crypto, See you next week. If you’ve enjoyed this video, leave us a thumbs up, Subscribe to the channel, and click the notification bell So you don’t miss a review, news update, Or the clearest information about bitcoin and cryptocurrencies anywhere.

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