Bitcoin plunges, Ethereum suffers and other news

Increasing stock market volatility drags Bitcoin and altcoin prices lower

View this email in your browser One week in review:  Feb. 21–27 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: #1. Increasing stock market volatility drags Bitcoin and altcoin prices lower After hitting record highs of $58,300 last Sunday, Bitcoin suffered a dramatic reversal of fortunes — crashing to $46,000 on Tuesday. Analysts and investors alike breathed a sigh of relief on Wednesday when Bitcoin managed to retake $50,000 — with some proclaiming that the asset had undergone a "healthy correction." But this narrative proved shaky when BTC plunged yet again on Friday to lows of $44,454.84. All of this comes amid a backdrop of unease in the traditional markets, and this week's price activity suggests BTC faces an uphill struggle if it's going to appreciate further. Read more #2. Cardano is now a top-three cryptocurrency as ADA price soars 27% in 24 hours Last week, Binance Coin had stolen the show with a stunning triple-digit surge that helped it become the world's No. 3 cryptocurrency. Fast forward to this week, and it's now been overtaken by Cardano's ADA. A fresh wave of optimism and buying volume on Friday pushed its price to a new all-time high, and momentum for the project has been building throughout February. Open interest for ADA futures also rose to $580 million, surpassing Litecoin to become the third-largest derivatives market. Read more #3. MicroStrategy purchases another $1 billion worth of Bitcoin, now owns 90,000 BTC MicroStrategy purchased an additional 19,452 coins, with CEO Michael Saylor declaring that his company has no intention of slowing down. It came after Square announced it had purchased 3,318 BTC for $170 million — following on from a $50-million spending spree in October 2020. On Friday, JPMorgan helped to cheer up the markets by telling clients that allocating 1% of a portfolio to Bitcoin would serve as a hedge against fluctuations in stocks, bonds and commodities. Read more #4. Prediction of the week: 1 billion people will store life savings on their phone in Bitcoin by 2026 — MicroStrategy CEO We love an outlandish prediction here at Hodler's Digest… and Michael Saylor certainly delivered the goods this week. The MicroStrategy CEO declared that Bitcoin will be the savings method of choice for a staggering 1 billion people in just five years' time. That's despite the fact that just 21 million BTC exist… and his company already owns 90,000 of it. Read more #5. FUD of the week: Crypto influencer warns Ethereum fees will drive users away A prominent crypto influencer has warned that Ethereum's competitors will continue to siphon away users should Eth2 fail to launch soon amid ever-increasing gas fees. Lark Davis said Ethereum's skyrocketing fees has meant that only "rich investors" can afford to use the network, prompting smaller users to switch to competitors like Binance Smart Chain. He added: "We're now to the point where ETH 1.0 — oh, we need ETH 2.0 so soon, come on, Vitalik, get it going, man — ETH 1.0, most regular users are priced out of using the majority of applications on Ethereum. […] A transaction on Uniswap costs $50 on average these days, and that is just crazy." Read more #6. FUD of the week: Bill Gates warns Bitcoin buyers: If you have less money than Elon Musk, watch out Microsoft founder Bill Gates had a big warning for Bitcoin buyers this week. Speaking to Bloomberg, he warned: "Elon has tons of money, and he's very sophisticated so, you know, I don't worry that his Bitcoin would randomly go up or down." Gates said it would be a mistake for the average investor to blindly follow the mania of optimism surrounding Musk's market moves, telling those who aren't billionaires to "watch out." Criticizing Bitcoin's energy consumption, he added: "I do think people get drawn into these manias who may not have as much money to spare. So, I'm not bullish on Bitcoin, and my general thought would be: If you have less money than Elon, you should probably watch out." Read more Feel free to explore the most important news with Hodler's Digest: Read more 1.5 million people follow us on social media Download our official app:

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Thanks a trillion Bitcoin, Binance Coin goes parabolic and other news

Bitcoin hits $57,500 and $1T market cap signals it's here to stay

View this email in your browser One week in review:  Feb. 14–20 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: #1. Bitcoin hits $57,500 and $1T market cap signals it's here to stay Bitcoin's price continued to smash records this week, surging by more than 20% and hitting highs of $57,505.23 at one point. But the most significant milestone came when BTC's market cap exceeded $1 trillion for the very first time. This is a feat that took the likes of Amazon and Google decades to achieve, with Bitcoin cementing its status as a major global asset in just 12 years. BTC even managed to overtake Tesla and Tencent as bullish momentum shows no signs of slowing down. Read more #2. Binance Coin becomes third-largest crypto following parabolic rally Binance Coin is now the third-largest cryptocurrency by market cap for the first time in history. BNB's price has more than doubled this week, and at one point, the coin hit highs of $342.88. It was issued by Binance, one of the world's largest crypto exchanges, with a view to giving users discounted fees. Binance's chief executive officer, Changpeng Zhao, noted that BNB has also been setting new all-time highs against Bitcoin. He said: "From a humble 0.00001 BTC per BNB, we have grown 480x against BTC in the last three-and-a-half years." Read more #3. Dogecoin drops 23% as Elon Musk slams DOGE rich list Dogecoin sank by 23% in a matter of hours on Monday after Elon Musk drew attention to the vastly unequal distribution of DOGE tokens — and urged major holders to sell. Dogecoin has one of the most unequal coin distributions in the cryptocurrency space, with 28.7% being held by just one person and the top 12 holders possessing almost 50% of the supply. Disgruntled by this statistic, Tesla's CEO tweeted: "If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo." Read more #4. Prediction of the week: Motley Fool adding Bitcoin to its "10x portfolio" — Has a $500,000 price target The Motley Fool has announced that it will invest $5 million into BTC and predicted that Bitcoin will rise to $500,000 in the next 15 years. Setting out the three core reasons behind its purchase, The Motley Fool said Bitcoin is a better store of value than gold, it's an effective hedge against inflation, and it has the potential to become a transactional asset. The company added: "While Bitcoin may very well continue to be volatile in the short term, we think it has 10x potential from today's levels over the long term as part of a diversified portfolio. We plan to hold this Bitcoin investment for many years." Read more #5. FUD of the week: U.S. charges three North Korean hackers over crypto attacks and WannaCry ransomware The U.S. Department of Justice has announced charges against three North Korean hackers. Assistant Attorney General John Demers didn't mince his words when he made the announcement, declaring: "North Korea's operatives, using keyboards rather than guns, stealing digital wallets of cryptocurrency instead of sacks of cash, are the world's leading bank robbers." With a country largely sequestered from the international economy, North Korea's hacking program has been a critical source of revenue. Read more #6. FUD of the week: YouTuber regrets spending 37 BTC — now worth $1.8 million — on used Hondas Spare a thought for this Honda enthusiast, who has called himself an "idiot" after spending 30.5 BTC on two used cars back on Valentine's Day in 2017. Chris Cut thought he was getting a "great price" of $30,500 back then, given how BTC was trading at $1,000 per coin. But fast forward to today, and his crypto stash would have been worth more than $1.7 million. The YouTuber said that he wasn't bothered about paying in Bitcoin for the cars at the time — but the enormity of his lost gains have set in four years later. Read more Feel free to explore the most important news with Hodler's Digest: Read more 1.5 million people follow us on social media Download our official app:

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