Crypto Guides, Knowledge & Insights

Permainan ‘Geng Paus’ Microstrategy Tambah Lagi Lebih 5000 BTC!

Microstrategy membeli BTC pada harga purata $48,099 setiap Bitcoin. Dalam cicipan Saylor di Twitter beliau, “sehingga 12/9/2021, Microstrategy telah memegang sebanyak 114,042 BTC yang secara purata dibeli pada harga $ 27,713 setiap Bitcoin.”　　Dengan pembelian ini, Saylor telah mengotakan janji beliau yang diumumkan semasa laporan pendapatan pada suku kedua untuk membeli lebih banyak bitcoin. Pada suku ketiga 2020, Microstrategy secara rumusnya telah membeli sejumlah 8,957 Bitcoin yang dianggarkan berjumlah $ 419.9 juta. Manakala harga purata bagi setiap Bitcoin ialah $ 46,875.　　Sehingga kini, syarikat itu memegang kira-kira 114,042 Bitcoin, yang diperoleh pada harga pembelian agregat sebanyak $ 3.16 bilion dan harga purata bagi setiap Bitcoin sebanyak $ 27,713 setiap Bitcoin, termasuk yuran dan perbelanjaan. Syarikat itu memiliki paling banyak Bitcoin berbanding mana-mana syarikat awam lain di dunia.　　Pembelian ini dilakukan selepas penjualan stok saham mereka. Pada suku ketiga, Microstrategy telah menjual 555,179 unit saham yang bernilai kira-kira $ 399.9 juta secara keseluruhan.

2021-09-14Deep Dive

Here’s When Cathie Wood Expects Bitcoin to Hit $500,000

Cathie Wood, the chief executive of investment management firm Ark Invest, said that Bitcoin could hit $500,000 in five years at Wall Streets SALT conference.　　The superstar investor believes the price of the largest cryptocurrency could increase ten-fold if institutions keep allocating 5% of their portfolios toward it.　　As reported by U.Today, Wood initially revealed her $500,000 target back in May after the chief coin endured a major sell-off together with the rest of the market.　　ARK Next Generation Internet ETF, which currently holds $301 million worth of shares of Grayscales Bitcoin trust, recently amended its prospectus to make it possible to invest in Canadian Bitcoin-tied exchange-traded funds.　　In late June, 21Shares AG and Woods Ark jointly filed to launch a Bitcoin ETF in the U.S. Such a product is yet to be approved in the States.　　Wood also has non-fungible tokens on her radar, but she is yet to buy any.　　Related　　Litecoin Creator Addresses Walmart ControversyCooperating with regulators　　Regulatory compliance was one of the dominant cryptocurrency-related topics at the conference.　　Circle CEO Jeremy Allaire claimed that working with regulators would help to ensure broader cryptocurrency adoption.　　This idea was also echoed by Canadian business mogul Kevin OLeary, who said that investors were hesitant to dive into crypto due

2021-09-14Deep Dive

Harvest Holidays Could Wreak More Crypto Exchange Havoc in South Korea

South Koreas looming crypto exchange “shutdown crisis and coin run” could be compounded by a forthcoming national holiday, leading to a chaotic week ahead for the crypto community in the East Asian nation.　　Chuseok, the annual Harvest Moon Festival holidays, will begin on Monday, September 20, and end on September 22. During this time, the entire nation will effectively shut down, much as is the case during Christmas holidays in Western Europe and North America.　　That leaves just six working days before September 24, the end of the regulatory Financial Services Commissions six-month grace period for crypto exchanges to submit their operating permit applications.　　The Chuseok slowdown is expected to cause more exchange shutdown chaos, KBS reported, with administrative deadlines likely, and heavy document backlogs almost certain.　　The broadcaster noted that “in the worst-case” scenario unregistered exchanges “may close one after another” in the days after Chuseok, adding that financial regulators had stepped up their scrutiny of exchanges they suspect will fail to submit applications.　　EToday reported that 40 exchanges have thus far obtained information security management system (ISMS) certification, per data released by the Ministry of Science and ICT. If they obtain ISMS certification, exchanges will be able to apply to stay open for

2021-09-14Deep Dive

Institutional traders flock to Solana as demand for ETH and BTC flattens

Institutional traders have flocked to Solana (SOL) as demand for Ether (ETH) and Bitcoin (BTC) exposure has flattened, with SOL investment products representing a whopping 86.6% of total weekly inflows crypto investment products last week.　　According to the Sept. 14 issue of CoinShares Digital Asset Fund Flows Weekly, Solana (SOL) investment products saw inflows of $49.4 million between Sept. 6 and Sept.10. The combined total inflows for crypto investment products equated to $57 million for the week, with SOL seeing a 275% week-over-week increase to represent 86.6% of total inflow.　　The surging inflows to Solana products coincided with the price of SOL gaining 36% over the same period. The report concluded:　　“A combination of price appreciation and inflows now brings Solanas assets under management to $97 million, the 5th largest of all investment products.”　　Digital asset products have now seen inflows for the fourth consecutive week, with demand for altcoins significantly outweighing the appetite for BTC products which saw minimal inflows of $200,000.　　The inflows were also partially offset by institutional investors offloading $6.3 million worth Ether exposure as the underlying assets price dropped 10% during the week.　　Despite Cardano (ADA)s highly anticipated introduction of smart contracts on Sept. 13, institutional flows ADA-tracking products saw a

2021-09-14Deep Dive

Indian Government Favors Taxing Cryptocurrency Over Ban

The Indian cryptocurrency ecosystem breathed a sigh of relief on Monday, as an ET report claimed that the government authorities might tax crypto transactions and exchanges in the near future. Insider sources told the publication that the tax department favors taxation instead of an outright ban. However, the taxation of crypto assets wont make it an asset class.　　“The tax department favors taxing cryptocurrency exchanges and trades in the country. But, it doesnt mean that they would be categorized as a valid asset class.”　　The recent reports came as a sigh of relief for the Indian crypto ecosystem as they have been in the dark about regulations for quite some time now. The report also contrasts recent comments made by the governor of the Indian Central Bank-RBI, Mr. Shaktikanta Das who has claimed that crypto-asset poses major concerns. Das has said,　　“We have major concerns on cryptocurrency, which we have conveyed to the government. With regard to advice to investors, well, central banks don‘t give any investment advice. It’s up to each investor to make his own appraisal, to do his own due diligence and take a very careful call with regard to his own investments.”　　 Former Deputy Governor Says India Must Treat

2021-09-14Deep Dive

El Salvador Won’t Tax Foreign Investors on Bitcoin Profits

El Salvadors President Nayib Bukele is looking to attract foreign capital to boost the Bitcoin industry in his country, especially after the controversial path he has gone through to get the cryptocurrency adopted as legal tender.　　A supposedly recent executive decision could be very favorable for bitcoiners in El Salvador… as long as theyre foreigners. According to an interview by Javier Argueta, legal adviser to President Nayib Bukele for AFP, foreign investors who made gains with Bitcoin will not pay the corresponding capital gains taxes:　　“If a person has assets in bitcoin and makes high profits, there will be no tax. This (is done) obviously to encourage foreign investment. There will be no taxes to pay on either the capital increase or the income.”　　As per the current Law, Capital gains are taxed at a flat rate of 10% of net profits. Capital gains for securities are also taxable.　　Article 5 of the Bitcoin Law states that bitcoin exchanges will not be subject to capital gains taxes like any legal tender.　　There is no mention in the Law of any exemption for foreign industries, businesses, or traders.　　 Politics and Bitcoin Are Having a Weird Friendship in El Salvador　　Arguetas words offer an incentive for more and

2021-09-14Deep Dive

Here's Why MicroStrategy Keeps Buying Bitcoin

Crypto trader and entrepreneur Willy Woo has offered an explanation as to why Michael Saylor-run MicroStrategy continues to confidently buy large amounts of Bitcoin, often doing so on the dip.　　Earlier today, the company acquired $243 million worth of BTC: 5,050 Bitcoins. In August, MicroStrategy added another $177 million worth of Bitcoin.　　All in all, in the third quarter of this year, the company acquired Bitcoin worth $419 million.　　“MicroStrategy holds BTC for many companies”　　Willy Woo has shared an updated chart of Bitcoin held by public companies after the aforementioned Bitcoin purchase made by MicroStrategy business software giant.　　After this purchase, the company holds approximately 114,042 Bitcoins worth a mind-blowing $3.16 billion.　　Woo has shared his view as to why MicroStrategy is storing all of this BTC: because other publicly traded companies find it easier to purchase a convertible debt tool from Saylors company and thus become exposed to the major crypto asset rather than taking the trouble of holding BTC themselves. Earlier this year and in December 2020, the entity raised an enormous amount of funds to buy BTC: $650 million in December and $400 million in June.　　MicroStrategy, Woo believes, holds Bitcoin for many public companies.　　Are other corporations also adding more Bitcoin？　　On the chart

2021-09-14Deep Dive

Visa CEO Says Crypto Could Become “Extremely Popular” In Five Years

Despite being only a little over a decade old, Crypto has gained tremendous popularity in its short time being in the public purview. Cryptos have collectively grown to over a $2 trillion valuation, beating out big companies like Apple and Microsoft. Adoption has followed the same trend in recent years. The current count for people investing in crypto has put the number as a little under 10% of the world being invested in crypto.　　Comparisons to the growth of revolutionary technologies like the internet have shown that crypto is headed for mainstream adoption in the next five years. Given this, payments companies like Visa, PayPal, and MasterCard have all developed crypto strategies to put them at the forefront of this new mode of payment. The giants no doubt believe in the future of cryptocurrencies. Giving them reasons to all build out their platforms to support these new currencies.　　Visa has been making strategic steps towards total crypto and blockchain support in recent years. According to Visas CEO Alfred Kelly, Visa is making sure that if cryptocurrencies get as big as everyone expects, then they want to be in the middle of it.　　Crypto Could Be Mainstream In Five Years　　CEO Alfred Kelly was on

2021-09-14Deep Dive

Avalanche (AVAX) chain’s Zabu Finance sees a $3.2 million exploit

Zabu Finance, a decentralized finance (DeFi) protocol on Avalanche (AVAX) has recently been exploited for roughly $3.2 million worth of crypto tokens. 　　The exploited protocol confirmed the attack on Twitter, clarifying that the funds were stolen from its SPORE pool.What happened？　　“Zabu Team Wallet has not sold a single Zabu. We‘re under an exploit, possibly from Spore Pool. We’re investigating the exploit. Need help Pangolin, Trader Joe, Avalanche,” Zabu Finance announced the exploit on Twitter, while reaching out to the network and the popular decentralized exchanges (DEXs).　　The exploited protocol confirmed that the hacker interacted with the blockchain contract and “successfully pulled out 4,5 billion Zabu tokens from Zabu Farm Contract, dumped all to Pangolin LPs and Trader Joe LPs of Zabu, stole around $600K.” 　　A blockchain security and data analytics company PackShield reported on Twitter which funds were stolen, estimating the exploited amount to $3.2 million.　　“The same bug happened many times before,” PackShield commented on the vulnerability in the contract used by yield farms to distribute rewards, where native tokens have been reportedly exploited all the way to $0,00.　　The removal of a large amount of ZABU tokens drove the price down rapidly.　　Prior to the attack, the token was trading at

2021-09-14Deep Dive

Cardano Successfully Deploys Alonzo HFC, But Why Is Price Down?

On September 12th, 2021, Cardano successfully completed the final stage of its move to make the network compatible with smart contracts. The long-awaited Alonzo Hard Fork Combinator launch marked the beginning of a new era for Cardano. The developer behind the project, IOHK, took to Twitter to announce the successful upgrade.　　The new upgrade has been successful so far, with over 50 smart contracts already deployed on the network, and counting. Alonzos Hard Fork Combinator (HFC) marks the end of the road for smart contracts capability. But also marks the beginning of a lot of work yet to be done. The community has so far welcomed the upgrade with open arms. Although one thing remains a problem, the price has not gone up in value. Why is this？　　Why ADA Price Is Down　　Last week, NewsBTC reported on the possibility of the Cardano smart contracts deployment triggering a “sell the news” event. So far, this seems to have been the case, or what this Twitter user aptly describes as “buy the testnet, sell the mainnet.” This does not mean that most users dumped their bags. In fact, a report from Cardano shows that at least 71% of ADAs entire coin supply remains locked

2021-09-14Deep Dive

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