Korok Ray, associate professor at Texas A&M University's Mays School of Business and Bitcoin researcher, announced plans for the creation of a research institute dedicated to the intersection of Bitcoin and Artificial Intelligence. This and more news in this practical summary daily so that you are always informed with events most recent that occur within the crypto world.
Bitcoin's final use case could be machines, according to Korok Ray
📍A new project to create an institute dedicated to Bitcoin research. During his participation at the MicroStrategy World 2024 conference, which began in Las Vegas, Nevada, on April 29, the Texas A&M University professor outlined the need to create a research institute dedicated to the two great innovations of our times, where academic research into the potential of Bitcoin, Artificial Intelligence (AI), and the combination of both disruptions is encouraged.
One of the use cases that could be explored at the Bitcoin Research Institute, according to Ray, is secure multi-party computing (MPC) applied to blockchain, which could lead to better security and decentralization practices, both in Bitcoin and elsewhere. the crypto industry.
Likewise, the Texas A&M professor highlighted that the integration of AI into the blockchain, for example, with deep neural networks and reinforcement learning (RL), would significantly expand the potential of these technologies, which would lead us towards what he called “the unknown country” (“The Undiscovered Country”).
Ray estimates that, in the coming centuries, Bitcoin's main use cases could be focused not on humans, but on machines, underscoring the wave of massive technological progress that the blockchain network represents.
Michael Saylor's Masterclass at MicroStrategy World 2024
📍Fortune's top companies received a Bitcoin masterclass from Michael Saylor. The current CEO of MicroStrategy has become one of Bitcoin's biggest advocates and evangelists, spreading his message about the potential of this disruptive technology. Recently, Saylor gave a masterclass on Bitcoin and its impact on corporate finance during his company's annual conference, MicroStrategy World 2024.
FORTUNE 1000 companies received this masterclass, learning first-hand how the leading cryptocurrency has been transforming today's finances. Saylor has transformed MicroStrategy into not only the largest institutional investor in Bitcoin, but also a blockchain software development company.
In about 4 years, since the company began investing its treasury reserves in Bitcoin, Saylor has managed to demonstrate that its bold corporate investment strategy in BTC has been profitable in the long term, growing its investment by 60%.
To date, MicroStrategy owns 214.400 BTC, in which it has invested a total of $7.540 billion. However, at the time of this publication, the value of the company's Bitcoin holdings stands at more than $12.750 billion.
More than $8 million traded in ETFs in Hong Kong
📍Bitcoin ETFs in Hong Kong traded 11% of the volume in the US market. On Thursday, trading volume for Bitcoin exchange-traded funds was $8,75 million in Hong Kong and $78 million in the United States.
The latest data for Bitcoin spot ETFs contrasts significantly with those seen in the first days of trading of these funds in both markets. In the case of Hong Kong, the ETFs were approved for trading on April 30, moving $292 million dollars on its first day. In the United States, Bitcoin ETFs began trading on January 11, moving $4.600 billion in trading volume.
JPMorgan: Investor profit-taking is driving crypto market correction
📍According to JPMorgan analysts, the sale of cryptocurrencies by retail investors is behind the recent correction experienced by crypto assets. According to data from CoinMarketCap, the main cryptocurrencies in the market have corrected up to 20% in the last 7 days. This, according to the investment bank's analysts, is related to profit-taking by retail investors, who have been selling their cryptocurrency holdings more massively than institutional investors, JPMorgan noted.
In the last week, the market capitalization of the cryptocurrency has fallen by around 0,40%, while the trading volume fell by almost 30% in the last few hours.
More than 160 cryptocurrency projects received funding in April
📍According to statistics published by RootData, venture capital firms participated in 161 cryptocurrency projects last month. Data from the platform shows that these companies invested a total of $1.020 billion in the funded cryptocurrency projects.
Statistics published by the platform also reveal that venture capital financing in the cryptocurrency industry decreased by 13,4% compared to the month of March. However, financing for this type of projects had an interannual increase of 29,8%, considering the statistics for April 2023.
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