Bitcoin
Tether adds $700m Bitcoin to reserve address
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3 days agoon
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adminTether, the issuer of $140 billion stablecoin leader USDT, increased its Bitcoin holdings by $700 million.
Tether added 7,629 Bitcoin (BTC) alued at approximately $700 million to its corporate crypto reserve address on Dec. 30, according to transaction data from on-chain insight provider Arkham.
The (USDT) stablecoin operator now holds 82,983 BTC, worth $7.7 billion at current Bitcoin prices of $92,300. It also holds $6 billion of its U.S. dollar stable token and less than $300 million in its other stablecoins and Crypto.com’s CRO token.
In May 2023, Tether announced it would begin buying Bitcoin to diversify its portfolio and revenue streams. The company has also been accumulating BTC through its mining operations. As of press time, CEO Paolo Ardoino had not confirmed whether the latest BTC addition was purchased outright or generated from its mining business.
Paolo Ardoino, the firm’s CEO, has expressed ambitions to venture into other technological sectors, including artificial intelligence and energy. According to a previous report, Tether could bring some of its artificial intelligence plans to fruition by early 2025. The British Virgin Island-incorporated firm also backs AI startup Northern Data Group and other technology-focused entities.
Other crypto-savvy companies are also bolstering their Bitcoin reserves. MicroStrategy recently acquired $209 million worth of BTC for its corporate treasury.
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They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
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S2F Founder PlanB Reaffirms $500,000 Bitcoin Price Target
Published
14 hours agoon
January 2, 2025By
adminStock-2-Flow (S2F) founder PlanB just took to the X platform to reaffirm that the price target for Bitcoin (BTC) is $500,000. He claimed that his forward guidance for the coin has not changed in the last three years when Bitcoin price traded at just $20,000. This latest forecast is one of the boldest for the coin looking ahead into 2025.
Factors to Drive the Price Growth – Halving and Pump
PlanB highlighted two of his previous X posts where he made some predictions about the future outlook of Bitcoin.
One of these posts dates back to October 2022 while he shared the other last year. In the earlier post, the analyst noted that his forward guidance for the next three years for Bitcoin takes account of the 2024 halving event. He noted that the halving can significantly boost the price of BTC.
PlanB is convinced that most of the Stock-2-Flow (S2F) model impact will play out this year. Utlimately, this validates the S2F target of approximately $500,000 projected for this year.
Before Q4, 2024 came to an end, Bitcoin price hit $100,000 and rallied as high as $108,000, setting it as an All-Time High (ATH).
The coin has pared off its gains thus far. At the moment, the coin is currently trading at $94,591.42 amid a 1.16% surge in the past 24 hours. Per his latest forecast, PlanB struck the $100,000 level from his list. Besides the average target of $500,000, he said the coin could trade in the high range of $250,000 to $1 million.
My forward guidance for 2025 has not changed since 2022 (when bitcoin was 20k, see below):
✅rise into April 2024 halving
✅halving around S2F value
✅pump after halving
✅ 100k in 2024
⬜️ 2025: hit S2F target ~500k average (range 250k-1m) https://t.co/Neet5BQ90W pic.twitter.com/osA3vXAW9D— PlanB (@100trillionUSD) January 1, 2025
The New 2025 Bitcoin Price Range Target
The PlanB price target for Bitcoin may seem insurmountable to a few market observers but it is worth noting that it aligns with predictions from other experts.
The general 2025 BTC price predictions noted that the coin’s valuation may fall within the range of $150,000 to $300,000. Several experts believe the potential establishment of a US strategic Bitcoin reserve will be a key event that could help propel the coin to new highs in 2025.
Institutional investors’ adoption is another factor that could serve as a lever for the price of the coin. Business intelligence and software firm MicroStrategy is one of the institutions leading this movement. Recently, MicroStrategy bought 2,138 BTC for $209 million to take its total count to 446,400 BTC.
Other firms like Riot Platforms and Semler Scientific are also joining the trend.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Bitcoin
Top 5 Crypto Gainers of 2024 & Should You Hold Them?
Published
1 day agoon
January 1, 2025By
adminMeme coins had a great performance in 2024, with most of them beating popular names like Bitcoin, Ethereum, and Cardano. The market cap of all meme coins jumped to over $107 billion. Dogecoin was the best performer among the top ten coins. So, let’s explore whether the top 5 crypto gainers of 2024 will be good investments in 2025.
Best 5 Crypto Gainers In 2024
Dogecoin price soared by 252% in 2024, making it the best-performing major crypto. It was followed by XRP (238%), Tron (136%), Binance Coin (125%), and Bitcoin (121%).
Dogecoin Price Analysis
DOGE price jumped in 2024 and reached a high of $0.4836 in December. Recently, however, the coin has pulled back and stalled at $0.30, slightly above the 61.8% Fibonacci Retracement level on the weekly chart.
There are signs that the coin is forming a bearish flag pattern, which often leads to more downside. That is a sign that it will have a bearish breakout and possibly retest the key support at $0.2276, a popular continuation sign.
If this happens, as Dogecoin price may rebound and retest last year’s high of $0.4835. A move above that level will signal more gains in 2025, which may see it retest the all-time high of $0.7597. More gains may be triggered by the Dogecoin reserves rumors spurred by Elon Musk.
XRP Price Prediction
XRP was one of the top crypto gainers in 2024, with most of these gains happening in the fourth quarter. The weekly chart shows that the coin is slowly forming a bullish pennant chart pattern, a popular bullish sign. It has remained above the 38.2% retracement level and all MAs.
The bullish pennant is nearing its confluence level, pointing to more gains in 2025. Some of the potential catalysts for Ripple are Gary Gensler’s resignation, RLUSD stablecoin growth, and a potential XRP ETF approval.
Tron Price Forecast
The TRX price soared and reached a record high of $0.4486. This surge happened as its ecosystem boomed because of its meme coins and stablecoin transactions. Tron has pulled back and moved to the key resistance at $0.2500. It remains above the key support at $0.1794, the upper side of the cup and handle pattern.
Therefore, there is a likelihood that the Tron price will bounce back, and possibly retest last year’s high. Such a move would imply a 77% surge from the current level, making it a good crypto to buy and hold.
BNB Price Analysis
Binance Coin has one of the best technicals in the crypto industry. It has held steady above the 50 EMA and formed a cup and handle pattern. The ongoing consolidation is part of the handle section. Therefore, the BNB coin price may have a strong bullish breakout, and possibly reach a high of $1,000 later this year.
Bitcoin Price Forecast
Bitcoin was one of the top crypto gainers in 2024 as it jumped by 121%, beating American stock indices. On the weekly chart, it has remained above the key point at $73,700, the highest level in March last year, and the upper side of the handle section of the C&H pattern.
Bitcoin is in a bullish trend after bottoming in 2023, helped by MicroStrategy purchases and BTC ETF inflows. Therefore, Bitcoin price will soar in 2025, and possubly hit the psychological point at $200,000.
Frequently Asked Questions (FAQs)
Some of the top crypto gainers in the crypto industry in 2024 were the likes of VIRTUAL, Popcat, XRP, and ai16z.
The outlook for the crypto industry is bullish in 2025, helped by ETF inflows and approvals, friendly regulations, and low interest rates.
A highly conservative view is where Bitcoin rises to $200,000 in 2025.
crispus
Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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