Author: The Daily Hodl
Bitcoin mining firm Marathon (MARA) is unveiling a plan to spend hundreds of millions of dollars to bolster its BTC stockpile. In a new press release, Marathon says it intends to privately offer $250 million worth of convertible senior notes due in September 2031 to “persons reasonably believed to be qualified institutional buyers.” “The notes will be unsecured, senior obligations of MARA and will bear interest payable semi-annually in arrears on March 1 and September 1 of each year, beginning on March 1, 2025… The notes will be convertible into cash, shares of MARA’s common stock, or a combination of…
Ex-Goldman Sachs executive Raoul Pal is predicting that artificial intelligence (AI) agents will one day use crypto assets to transact with each other. In a new video update, the Real Vision CEO says that in the not-so-distant future, AI agents are probably going to use digital assets to pay for things like electricity, with the transactions remaining outside of traditional finance systems. “AI agents are coming into the world. An AI agent is like you going to Fiverr and hiring somebody to build your website and hiring someone to do your marketing strategy and all of those kind of things.…
Spot Bitcoin (BTC) exchange-traded funds have witnessed more than $19.3 billion of net inflows this year, according to Eric Balchunas, a Bloomberg ETF analyst. Balchunas tells his 319,100 followers on the social media platform X that the number is “surprisingly strong” and argues that it is the most important bellwether of success given Grayscale’s GBTC unlock and net price movement. Balchunas also notes US ETFs are on pace to pace Satoshi Nakamoto, Bitcoin’s pseudonymous creator, as the top holders of BTC. “BlackRock alone is already #3 and on pace to be #1 late next year, and will likely stay there…
Popular crypto analyst Benjamin Cowen thinks macroeconomic indicators suggest altcoins will chip away against Bitcoin’s (BTC) dominance in the coming months. In a new YouTube video, Cowen points his 807,000 subscribers to the Sahm Rule Recession Indicator, which tracks signals that could indicate the start of a recession. The indicator flashes when “the three-month moving average of the national unemployment rate (U3) rises by 0.50 percentage points or more relative to its low during the previous 12 months,” according to the Federal Reserve Bank of St. Louis. The indicator hit 0.53 percentage points in July. Explains Cowen, “The point is…
A closely followed crypto analyst says that Bitcoin (BTC) could suddenly plummet in value if one key level is lost as support. In a new video update, crypto strategist Jason Pizzino tells his 332,000 YouTube subscribers that if Bitcoin falls below $53,500, there is cause for concern that the crypto king may be flipping bearish. “We’re still in a slightly stronger stance to then test the 50% level again [at $61,422]… Is it going to be the bulls that take control, get above 50%? Or is it going to be the bears that take control and reject 50% again to…
The chief crypto analyst at Real Vision says the global money supply (M2) metric is showing a “perfect” scenario for Bitcoin (BTC). Jamie Coutts says on the social media platform X that a historical relationship between Bitcoin and M2 suggests that the flagship cryptocurrency is in the midst of a consolidation phase while an increase in the money supply sets the stage for BTC’s next leg up. “Over the past decade, Bitcoin has had a tendency to trough several months before the bottom in global M2. Then it rips, gets way ahead of the move in liquidity, and has a…
A closely followed analyst and trader warns that Bitcoin’s (BTC) multi-month bull market may be hanging by a thread. Pseudonymous analyst Altcoin Sherpa tells his 219,700 followers on the social media platform X that he’s keeping a close watch on Bitcoin’s price action at around $58,000. According to the trader, an immediate move below $58,000 could spell trouble for the crypto king. “$58,000 would be the level of interest for me for BTC. Pulling back is expected; the reaction from that area should be telling. Bounce strongly = we test higher levels. Weak bounce or nonexistent= we go to hades.”…
A South Korean CEO is reportedly facing fraud charges for allegedly orchestrating a massive $364.9 million Ethereum (ETH)-themed crypto scheme. According to iNews24, Byun Young-oh, the CEO of tech firm Wacon, was arrested for allegedly running a pyramid scheme disguised as a legitimate crypto investment opportunity. The CEO was arrested along with an alleged accomplice surnamed Yeom. They are now expected to be tried by the Fifth Criminal Division of the Seoul Central District Prosecutor’s Office on fraud charges. The alleged scheme targeted mostly elderly citizens by promising them interest rate returns as high as 50% if they deposited their…
Crypto veteran and BitMEX founder Arthur Hayes is updating his outlook on when altcoins could have their time to shine. In a new essay, Hayes says that he expects the crypto market to respond positively to an anticipated massive injection of liquidity into the financial system from US Treasury Secretary Janet Yellen’s issuing US Treasury bills (T-bills). Hayes says the new liquidity could cause Bitcoin (BTC) and Ethereum (ETH) to soar, while at the same time setting the stage for an “altseason.” “Therefore, taking Bad Gurl Yellen’s word, we know that $301 billion of T-bills will be net issued between…
Tether chief executive Paolo Ardoino thinks geopolitical tensions and macroeconomic trends are going to increase the importance of scarce assets like Bitcoin (BTC) and gold. Ardoino says in a new interview with investor and venture capitalist Preston Pysh that he doesn’t think the globe is headed towards “a nicer period for humanity,” citing bubbling geopolitical issues across the world. “There’s so much tension starting from Europe: very, very high tension, to the US, to everywhere else in the world. Things are not nice. And so having an exposure to scarce assets like Bitcoin and gold is the way to go.” The…