Microsoft Also Wants in on some Bitcoin
Happy near-month-end guys 🥂
Welcome to the last October edition of your favorite weekly news round-up.
Right now, it looks like the markets are joining the political game of cards, and Trump likely holds the winning hand.
On the other hand, Microsoft is considering copying Micro Strategy to stock up on some Bitcoin as well.
… We knew it was coming, especially seeing how much money Micro Strategy has printed.
Let’s see how things will play out if they’ll actually push forward with it.
- Trump election win could send BTC to $100K and propel altcoins further
- FTX agrees to drop lawsuit against Bybit in $228 million settlement
- Microsoft to consider bitcoin investment in December, despite board opposition
- Metaplanet becomes Asia’s largest Bitcoin holder with over 1,000
Trump election win could send BTC to $100K and propel altcoins further
Crypto has found itself in a unique position as a campaign issue in the United States 2024 presidential election. Many in the industry have backed former US president and Republican nominee Donald Trump, with his pro-crypto policy promises seen as a potential catalyst for industry growth. With opinion polls suggesting it’s still anyone’s race, crypto traders like Satoshi Flipper argue that a Trump victory hasn’t yet been priced into the crypto market. Satoshi Flipper believes a Republican win would strengthen the ongoing Bitcoin and altcoin bull market.
FTX agrees to drop lawsuit against Bybit in $228 million settlement
FTX has agreed to drop its lawsuit against Bybit, its executives and investment arm Mirana in a settlement that would allow the defunct cryptocurrency exchange to collect around $228 million. The amount is expected to help FTX repay its creditors in the coming months. “Over the past months, the parties have engaged in lengthy, good faith negotiations regarding these claims, and ultimately reached a global settlement reflected in the Settlement Agreement,” said FTX’s bankruptcy court filing submitted last Thursday.
Microsoft to consider bitcoin investment in December, despite board opposition
Microsoft, valued at more than $3 trillion, is eyeing the possibility of investing in bitcoin, the world’s largest cryptocurrency, according to a new filing from the U.S. Securities and Exchange Commission (SEC). The company will vote on an "assessment in investing in bitcoin" during its December annual meeting. The proposal was floated by the conservative, Project 2025-linked National Center for Public Policy Research. The center labeled Bitcoin as an “excellent, if not the best, hedge against inflation” in its rationale for bringing the proposal to the company.
Metaplanet becomes Asia’s largest Bitcoin holder with over 1,000
Japan-based Metaplanet recently achieved a significant benchmark by pushing its Bitcoin holdings over 1,000 BTC. On Oct. 28, the company stated that it acquired 156.78 BTC at an investment of $10.4 million, raising its total Bitcoin stash to 1,018.17 BTC—currently valued at approximately $68.8 million. This acquisition brought Metaplanet’s average purchase price to around 9,450,746 yen or $61,629 per Bitcoin. The firm’s Bitcoin accumulation aligns with its May decision to make Bitcoin a strategic reserve asset.
Other Highlights Worth Mentioning
Nigeria Releases Detained Binance Exec, Drops Charges - Decrypt
Tether Boosts Reserves With Over 82,000 BTC for USDT Stability - BeInCrypto
Korea to Regulate Crypto Cross-Border Trade Next Year - BitcoinNews
US and Nigeria unite to tackle crypto crime with new liaison group - CryptoSlate