Last week, MicroStrategy introduced a new KPI, "Bitcoin Yield," targeting a 4%-8% annual range over the next three years. Morgan Stanley will begin recommending Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund, potentially leading to significant market inflows. The U.S. government, holding approximately $12 billion in Bitcoin, faces proposals to designate Bitcoin as a strategic reserve asset. Grayscale’s Bitcoin Mini Trust experienced $191 million inflow on its second day of trading. Genesis completed a $4 billion bankruptcy restructuring, with varied recovery rates for creditors. The University of Wyoming is set to launch a Bitcoin Research Institute to advance Bitcoin studies. Futu Securities in Hong Kong has introduced retail Bitcoin trading, becoming the first online broker in the region to offer direct access. Alby has launched Alby Hub, a simplified self-custodial lightning node application. In regulatory news, Russia has enacted a law allowing Bitcoin for international trade to circumvent sanctions, while the U.S. Fed held interest rates steady, while China's central bank reduced its loan rate to address slow economic growth and deflation.
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Highlights of the Week- Issue #56
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Last week, MicroStrategy introduced a new KPI, "Bitcoin Yield," targeting a 4%-8% annual range over the next three years. Morgan Stanley will begin recommending Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund, potentially leading to significant market inflows. The U.S. government, holding approximately $12 billion in Bitcoin, faces proposals to designate Bitcoin as a strategic reserve asset. Grayscale’s Bitcoin Mini Trust experienced $191 million inflow on its second day of trading. Genesis completed a $4 billion bankruptcy restructuring, with varied recovery rates for creditors. The University of Wyoming is set to launch a Bitcoin Research Institute to advance Bitcoin studies. Futu Securities in Hong Kong has introduced retail Bitcoin trading, becoming the first online broker in the region to offer direct access. Alby has launched Alby Hub, a simplified self-custodial lightning node application. In regulatory news, Russia has enacted a law allowing Bitcoin for international trade to circumvent sanctions, while the U.S. Fed held interest rates steady, while China's central bank reduced its loan rate to address slow economic growth and deflation.