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Crypto Week in Review – 21-26 Dec 2020

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Every week, we’ll quickly cover the biggest stories in crypto so that you’ll always be up to speed on the latest headlines. Quickly skim the headlines and if you see something that interests you, read up on it in full detail by clicking the source link.


Story of the Week

Source: TradingView

After making a new all-time high (ATH) of $23,700 last Thursday, Bitcoin, the #1 cryptocurrency in marketcap (MC), continued to make newer ATHs – briefly reaching the $26K levels on Saturday before pulling back to the $25K levels.

At the time of writing, BTC is trading at $25,741.

@IvanonTech, a researcher and investor prominently known throughout the crypto industry points out the rejection at $26K – while also suggesting that a $30K price target is imminent.


MicroStrategy – $1B+ in Total BTC Purchases in 2020 – Mon, 12/21

MicroStrategy® Incorporated (Nasdaq: MSTR) announced that it had purchased an additional approximately 29,646 bitcoins for approximately $650.0 million in cash – at an average price of approximately $21,925 per bitcoin, inclusive of fees and expenses.

As of December 21, the Company holds an aggregate of approximately 70,470 bitcoins, which were acquired at an aggregate purchase price of approximately $1.125 billion and an average purchase price of approximately $15,964 per bitcoin, inclusive of fees and expenses.

Read More: MicroStrategy Announces Over $1B in Total Bitcoin Purchases in 2020 on MicroStrategy


Wirex Becomes Visa Principal Member – Tue, 12/22

“Digital currencies have the potential to extend the value of digital payments to a greater number of people and places.”

“We’re excited to work with innovative fintech’s like Wirex, and enable their customers to use digital currencies at more than 61 million merchants on the Visa network.”

Cuy Sheffield, Senior Director and Head of Cryptocurrency, Visa. 

Read More: Wirex Becomes Visa Principal Member on Wirexapp


Hedge Fund Buys $25m of BTC – Wed, 12/23

“You either have to accept that Bitcoin is a store of value or not,”

“After doing the research, we believe it is. And given the monetary supply and the global central banking coordination right now, this will be a very strong asset class over the next decade,”

Former White House Communications Director, Anthony Scaramucci

Read More: Hedge Fund Buys $25 Million of Bitcoin on Decrypt


White House Report – Regulators Could Limit ‘Multi-currency Stablecoins’ – Thu, 12/24

“The statement reflects a commitment to both promote the important benefits of innovation and to achieve critical objectives related to national security and financial stability.  Regulators will continue to look closely at stablecoin arrangements, and look forward to future dialogue on these issues,”

Treasury Deputy Secretary, Justin Muzinich

Read More: White House releases stablecoin report, says regulators could consider limiting ‘multi-currency stablecoins on TheBlock


1INCH Token Released/Airdropped – Fri, 12/25

Much like the $UNI (Uniswap Protocol) that kicked off the DeFi boom a few moths ago, all wallets that have interacted with 1INCH exchange up until December, 24, midnight (UTC), will receive 1INCH tokens – as long as they meet one of the following conditions:

  • At least one trade before September 15th
  • OR at least 4 trades in total
  • OR trades for a total of at least $20

Read More: 1INCH token is released on Medium


As BTC Blasts Past $25K, Here’s Why This Investor Sold – Sat, 12/26

“I have sold half my holdings of bitcoin as it hit an all-time high,” Green, who has been talking up bitcoin’s prospects for years, said in an emailed statement. “Why? Because it should now be treated as any other investment—that’s to say, where possible, it’s better to sell high and re-buy in the dips.”

“The steady gains in the price of bitcoin has made the digital currency the top-performing asset of 2020, up over 200%,” Green added. “As such, I felt the time was right for profit-taking.”

“There should be no misunderstanding about my decision to sell. It is not due to a lack of belief in bitcoin, or the concept of digital currencies—it’s profit-taking now to buy more later.”

Chief Executive of deVere, Nigel Green

Read More: As Bitcoin Blasts Past $25,000, Here’s Why This Investor Made The Surprise Decision To Sell on Forbes


Infographics

A special thanks goes out to the cryptounfolded team for supplying Swapfolio and its community with all the latest data and news updates in the world of cryptocurrency.


100k+ $BTC Options ($2.3B) Expires Friday – 12/21


Coinbase Lists 60/120 Trading Pairs in 2020 – 12/22


Bitcoin Added $300B+ to MC in 2020


Grayscale’s Customers added 12K+ BTC in 1 Day – 12/23


Bitcoin Fear & Greed Index

Bitcoin Fear & Greed Index
Source: Alternative.Me

DeFi Pulse

Source: DefiPulse

Total Crypto MC & Volume

Source: Tradingview

Total Altcoin MC & Volume

Source: TradingView

Total MC Dominance

Source: TradingView

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