Bitcoin

Bitcoin Yield On Dollars? Yes, Please.

Published

2 months ago

October 23, 2024

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This morning, River announced its Bitcoin Interest on Cash feature through which it will offer a 3.8% interest rate — paid out in bitcoin — on the dollars you leave in the custody of the platform, which is FDIC insured up to $250,000.

This yield is comparable to what you’d earn in a high-yield savings account through an online bank like Ally, but again, you’re earning bitcoin with River.

If you’re like me, a Bitcoin enthusiast who still likes to keep a sizable cash buffer in case of emergency, this is a pretty sweet deal. See, I have one of those high-yield savings accounts through Ally, and I tell myself I’m going to take the yield I earn each month and buy bitcoin with it, though, I rarely remember to do this.

Now, with River, I can essentially automate that process, allowing River to convert that filthy fiat yield into bitcoin for me at the end of each month.

(Well technically, I can’t do this because I live in New York State, one of only two US states in which River doesn’t serve clients. We have this thing in New York — a land once home to free people but that is now drowning in bureaucracy — called the “BitLicense,” which makes it quite difficult for Bitcoin startups to do business in the state, but I digress.)

There are no monthly fees or minimums to get started using this product, and users can withdraw their cash whenever they please.

This isn’t just something for Bitcoiners to celebrate, but it’s also a great way to onboard normies to Bitcoin, most of whom are scared to buy bitcoin because of its volatility. Now, they don’t have to buy it; they can just earn it for holding onto the type of money they’re much more used to holding.

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Bitcoin

A Very Bitcoin Christmas

Published

10 hours ago

December 25, 2024

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Twas the night before Christmas, and all on the chain, Bitcoin was soaring, with no hodler in pain.

The bulls had returned, sleighing bears left and right, now six figure Bitcoin was an everyday sight.

All miners were buzzing, hash rates on the rise, securing the network under wintery skies.

Our Lambos were gleaming, parked under the stars, proof that HODLing beats shitcoins by far.

El Salvador kept buying, more coin for their stocking, before dreams of more sats inevitably come knocking.

The ETFs rallied, their bids filled the air, it’s Bitcoin’s new era, Satoshi did declare.

Our on-chain data, so bright and so clear, Screamed “HODL through 2025, vast wealth will appear!”

With supply getting tighter, few coin left to sell, it’s the sound of adoption; Bitcoin’s doing swell.

When out on the charts there arose such a cheer, “A new all-time high! This is our year!”

To the exchanges we flew, with wallets in tow, the institutional FOMO already began to show.

Investors wondered if we could Supercycle, breaking the system with cheap debt from Michael.

Then who should appear in a sleigh trimmed with gold? Who else but Trump with a plan so bullish and bold.

“A strategic reserve!” he proclaimed with a roar, “America’s future is with Bitcoin I’m sure!”

He winked at the bulls as his sleigh took its flight, “Merry Christmas to hodlers, and to hodlers, a good night!”

If you’re looking for a last-minute gift for that special someone or feel like treating yourself, then how about giving the gift of a Bitcoin data analysis platform subscription, now with a whopping 30% off holiday discount:

https://www.bitcoinmagazinepro.com/subscribe/

Thanks for reading, and Merry Christmas!

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Bitcoin

Six Bitcoin (BTC) Mutual Funds to Launch in Israel Next Week: Report

Published

15 hours ago

December 25, 2024

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Six mutual funds tracking the price of bitcoin (BTC) will debut in Israel next week after the Israel Securities Authority (ISA) granted permission for the products, Calcalist reported on Wednesday.

All six will start operations on the same day, Dec. 31, a condition imposed by the regulator, Calcalist said. Final approval for the funds was granted last week.

The funds will be offered by Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav and IBI, with management fees ranging from as high as 1.5% to 0.25%. One of the funds will be actively managed, trying to beat bitcon’s performance. They will initially transact just once a day, though future products will be able to trade continuously, Globes said in a Tuesday report, citing market sources.

The ISA’s approval comes almost a year after the U.S. Securities and Exchange Commission (SEC) greenlighted spot bitcoin exchange-traded funds (ETFs) in the world’s largest economy, during which the world’s largest cryptocurrency has more than doubled to trade near a record high. The U.S. funds have gathered a net $35.6 billion of investor cash.

“The investment houses have been pleading for more than a year for ETFs to be approved and started sending prospectuses for bitcoin funds in the middle of the year. But the regulator marches to its own tune. It has to check the details,” an unidentified senior executive at an investment house told Calcalist.

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Bitcoin

Macro Guru Raoul Pal Predicts Crypto Market Will Rally ‘Pretty Strongly’ Into Year-End – Here’s His Outlook

Published

2 days ago

December 24, 2024

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Former Goldman Sachs executive Raoul Pal believes that the crypto market will rally heading into the end of 2024.

In a new interview with crypto trader Scott Melker, the macro guru says that based on historic precedence, Bitcoin (BTC) and other digital assets may put up larger gains during the last week and half of December.

A rally at this time of year is often referred to as a Santa Claus rally, a financial term used to describe a calendar effect on traditional equities that historically have gone up on the last five market trading days of the year in December and the first two trading days of the new year.

“Normally, what happens at this phase is we should rally into year-end pretty strongly in everything. But then the real game gets played in first quarter.”

Pal also believes that the most explosive rally of the current market cycle is still to come and that it could occur next year, possibly around the Fed’s meeting in March when rates may be cut.

“I think my next phraseology is going to be the banana singularity, that’s when everything goes bananas…

So we’re not at the banana zone singularity point yet. That will come as well. That’s probably sometime Fed March when it all gets silly.”

However, Pal also warns there may be a temporary correction around the end of the year after a rally due to liquidity tightening. He believes the growing money supply is a catalyst for Bitcoin price, and that when it declines so does the flagship crypto’s price.

“Let’s look at the last [US President Donald] Trump administration. So from September to the end of the year, the dollar rallied. September to the end of the year, rates went up. Same narrative. It was all about tariffs and what’s he going to do and how’s it going to play out.

Almost exactly as the year turned, the dollar went lower, the rates went lower. So I’ve been producing a chart showing that global liquidity tightened and it has a 10-week lead time, and that should mean that at the end of the year, we get a correction.”

Bitcoin is trading for $94,367 at time of writing, down more than 11% in the last seven days.

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