MicroStrategy Racks Up $3.900 Billion Unrealized Gain on Bitcoin Bet. This and more news in this handy daily roundup so you're always up to date with the latest developments in the crypto world.
“Bitcoin is the exit strategy,” said Michael Saylor
📍Michael Saylor, president of MicroStrategy, the public company with the largest amount of bitcoins in the world, stated that there is no reason to sell Bitcoin. During an interview with Bloomberg TV, Saylor stressed that he has no plans to sell any of the bitcoins he owns in the short to medium term, and he may not hold them in the long term either. In fact, when asked about Bitcoin, Saylor noted that it is an investment asset comparable to gold and stocks, but is superior to all of them in many ways.
On top of this, despite his company sitting on an unrealized gain of over $3.900 billion from its Bitcoin investment, Saylor said he is not considering any possible exit, arguing that, in reality, “Bitcoin is the exit strategy.”
At the time of writing this article, Bitcoin is trading at a price of $52.060 per unit, while MicroStrategy is already accumulate a total of 190.000 BTC, since he began investing in cryptocurrency in August 2020.
UK prepares to regulate stablecoins and staking this year
📍UK Treasury Economic Secretary Bim Afolami has highlighted that the agency is preparing to regulate stablecoins and cryptocurrency staking in the next 6 months. According to reported Speaking to Bloomberg, Afolami noted that regulating these crypto sectors is a priority for the nation, in order to provide more regulatory clarity to the cryptocurrency industry and the investors who participate in it.
Afolami, who participated in a cryptocurrency-related event held in London, prioritized the need to create regulations in line with the nation's goals of becoming a center of cryptocurrency innovation, where companies can invest and grow.
PostFinance starts offering cryptocurrencies
📍PostFinance, Switzerland's fifth-largest retail financial institution, has launched a solution to offer cryptocurrencies to its customers. Following its strategic partnership with Sygnum bank, PostFinance has launched a new solution in April 2023, allowing its 2,5 million customers to invest in nearly a dozen cryptocurrencies.
According to the bank, PostFinance customers will have access to 11 cryptocurrencies, which they can purchase, store and manage through its new solution, 24 hours a day, 7 days a week.
Sygnum, which is dedicated to cryptocurrency and digital asset services, stressed that PostFinance has become the first systemically important bank in Switzerland to offer its clients access to crypto assets.
Bitcoin and Ethereum Microfutures Coming Next Month
📍CME, one of the world's largest futures and options exchanges, is awaiting regulatory approval to launch new products based on the market's leading cryptocurrencies. These are microfutures based on Bitcoin and Ethereum, which will be denominated in euros and, if they receive regulatory approval, will begin trading on the market from March 18.
The derivatives market he highlighted that investor interest in Bitcoin and Ethereum, the main cryptocurrencies on the market, continues to grow and therefore the importance of offering products that provide investors with a way to gain exposure to these cryptocurrencies in a regulated and secure manner.
Moonbirds join Otherside
📍The Moonbirds NFT collection will be integrated into Yuga Labs' Otherside decentralized metaverse. Yuga Labs, the Web3 startup behind Bored Ape Yacht Club (BAYC) and the Otherside metaverse, has announced the acquisition of Proof, the Web3 startup behind the PFP Moonbirds digital art collection.
According to Spanish President Pedro Sánchez’s announcement From Yuga Labs, the new acquisition aligns with its vision of becoming the gateway to Web3.
The acquisition agreement covers everything from the projects developed by Proof, such as the Mythics and Grails crypto collections, to the team, intellectual property and the entire artistic portfolio.
ApeCoin DAO will develop the ApeChain on Arbitrum
📍The ApeCoin DAO has selected the Ethereum-based Arbitrum network to build its own blockchain. DAO governance vote in favor of developing ApeChain on Ethereum’s Arbitrum scaling network, highlighting its potential to provide a highly scalable solution that meets the needs of the Web3 gaming sector.
According to the governance proposal approved by ApeCoin DAO, the ApeChain chain will be a dedicated gaming network, supporting the growth of the ApeCoin ecosystem as a whole.
Offchain Labs, the company behind the development of Arbitrum, highlighted that the APE token, developed by the DAO, will be used as the utility and governance token of the new blockchain.
Continue reading: Coin Metrics: 51% Attack No Longer Viable on Bitcoin Network
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