qfx As the traders of Bitcoin (BTC) cast their hopeful gazes toward the horizon of September, they anticipate the Fedâs first potential rate cut of the year, which they believe could usher in a veritable renaissance for Bitcoin. The right nominee, a veritable golden goose, could propel the price to dizzying heights. Oh, the irony! A mere mortalâs choice could dictate the fate of a digital currency!
The privacy coin XMR appreciated by approximately 4% on Aug. 18 to $276, just days after the reported 51% attack on Monero by the Qubic mining pool. Since the saga started, XMR had been trending downward, and on Aug. 15, it declined to $233 as multiple media outlets and experts reported the commencement of the attack. đ§
Ah, the eternal tale of two cryptos: Bitcoin, basking in the glow of institutional admiration, now commands a princely sum of $165.57 billion in assets under management (AUM). BlackRockâs IBIT struts ahead with $85.25 billion-because who wouldnât want to be seen with the darling of the digital elite? Fidelityâs FBTC follows with $36.84 billion, and Grayscaleâs GBTC trails with $21.44 billion, like the slightly less popular cousin at a family reunion. Meanwhile, Ethereum spot ETFs languish at a mere $25.56 billion, proving that even in the crypto world, being second fiddle is still… well, being second fiddle. The ratio? A jaw-dropping 6:1 in favor of Bitcoin. Truly, Bitcoin has become the toast of the institutional town, while Ethereum scrambles to find its seat at the banquet. One might say Bitcoin is sipping champagne, while Ethereum is stuck with the house white. Cheers to that, or should I say, *bit-te* to that? đˇâ¨
During a shareholder call that was probably more exciting than watching paint dry, TeraWulf announced they signed a 10-year colocation lease with Fluidstack. And guess whoâs backing this lease? Yep, our favorite tech giant, Google! Theyâre throwing around a financial guarantee like itâs confetti at a New Yearâs Eve party, and in return, they get warrants to buy shares. Talk about a win-win! đ°
âWhile the Trump Administration is letting crypto bros write federal policy,â Pritzker announced with all the gravitas of someone who just read the spell book, âIllinois is rolling out common-sense protections for investors and consumers.â Because apparently, *common sense* isn’t just for middle school debate tournaments anymore.
On August 18, the regulator filed notices extending its review period for these applications. Among them? The Truth Social Bitcoin and Ethereum ETF-because who wouldnât want to mix crypto with a dash of political theater? Thereâs also the spot Solana ETFs from 21Shares and Bitwise, plus the 21Shares Core XRP Trust. New decision dates? October 8 for Truth Social, October 16 for Solana, and October 19 for XRP. Mark your calendars, folks-itâs going to be a nail-biter. Or not. đ´
Reports of a horse thief – er, mining pool – rounding up 51% of the hash power enjoyed a fair share of whispers. Though no wallets lighter yet, history’s looking over the horizon with Uncle Tom’s foreboding scowl đ§.
Sure, Bitcoin ETFs still carry the heavyweight belt, but Ethereumâs new trick – those rushing inflows – has everyone eyeing the prize like a raccoon eyeing the trash can. Like a kid with a shiny new toy, markets are drawn to Ethereumâs sparkle, all while Bitcoin watches from its throne, maybe rolling its virtual eyes.
Rekt Fencer (yes, the founder of X DAO, because why not have a name that sounds like a medieval knight?) has boldly declared, â$LINK IS GOING TO $300 THIS CYCLE.â Now, I canât help but imagine him perched atop a majestic mountain, gazing into the distance, dreaming of his crypto fortune. He points to integrations with SWIFT, Visa, and Mastercard, arguing that Chainlink is becoming the golden bridge to the world of decentralized finance and tokenized real-world assets. But, ah, the plot thickens-supply on exchanges is disappearing faster than my willpower in a bakery. đ
So, Strategy Inc., AKA the Gollum of Bitcoin (because âMy Precious!â), has gone ahead and added 430 BTC to its hoard for a cool $51.4 million. Thatâs about $119,666 per Bitcoin. Michael Saylor, their chairman and resident Bitcoin evangelist, announced it on X (formerly Twitter) faster than you can say “crypto bro.” đ As of now, theyâve got 629,376 BTC-yes, you read that right-worth around $46.15 billion. Their average buy-in price? A mere $73,320 per Bitcoin. Basically, theyâre turning into the Warren Buffett of digital gold. đŞâ¨
