Bitcoin has once again surpassed its previous high point of $69,210, set on March 5, 2024, as documented by Bitstamp. Currently, the digital currency is stable above the $68,000 mark, having surpassed its previous peak and climbed to $70,184 per coin.
The Bitcoin price records new all-time highs on March 8, exceeding $70,000, after the latest unemployment data in the United States boosted the arguments in favor of cutting interest rates. TradingView data tracked BTC’s bullish price action as investors sent the market into price discovery.
Meanwhile, the price of Ethereum has reached $4,000 for the first time in more than two years, with a 4% increase in the last 24 hours, according to data collected by The Block. This milestone comes amid ongoing speculation over the approval of spot Ethereum exchange-traded funds (ETFs) in the United States.
The second-largest cryptocurrency by market capitalization has seen a 15% rise over the past week, as well as an impressive 68% over the last month.
BlackRock Prepares to Invest in Bitcoin Spot ETFs for Its Global Allocation Fund
Asset management giant BlackRock has announced its intention to acquire spot Bitcoin exchange-traded funds (ETFs) for its Global Allocation Fund, according to an updated filing with the United States Securities and Exchange Commission.
In the statement, BlackRock specifies that the Fund may purchase shares in exchange-traded products (ETPs) that seek to reflect the price performance of Bitcoin, directly holding Bitcoin, including shares of a Bitcoin ETP sponsored by a BlackRock affiliate. Furthermore, the company emphasizes that it will only invest in Bitcoin ETFs that are listed on national stock exchanges.
The Global Allocation Fund employs a variety of assets such as U.S. and foreign stocks, debt, and money market securities to maximize returns. Currently, it manages assets worth $17.8 billion, according to BlackRock.
Terra-Luna Investors Advocate Extradition of Co-Founder to the United States and Not to South Korea
A group of South Korean investors affected by the collapse of Terra-Luna issued a statement on Friday, urging the extradition of Terraform Labs co-founder Do Kwon to the United States instead of South Korea. This comes after Montenegro’s top court’s decision to extradite Kwon to South Korea.
The statement, posted on an online forum with more than 2,700 members of the Terra-Luna victim community, raises concerns about the possible legal outcome in South Korea. It argues that Kwon may not receive an adequate punishment, given the judicial process and possible appeals in the country. According to Bloomberg’s report on Friday, the US Department of Justice will move forward with Kwon’s extradition from Montenegro.
The statement notes that the maximum sentence in South Korea for financial criminals is typically 30 to 40 years, but argues that in the United States, the legal system allows consecutive sentences for each crime, which could result in a harsher sentence for Kwon.
Senators Lummis and Gillibrand Introduce Legislation to Regulate Cryptocurrencies
Senators Cynthia Lummis and Kirsten Gillibrand have announced a new legislative effort aimed at establishing a comprehensive regulatory framework for digital assets, specifically focused on stablecoins.
In a joint announcement, Lummis and Gillibrand highlighted their past commitment to cryptocurrency regulation. In July 2013, they collaborated on the reintroduction of legislation designed to provide a clear and comprehensive regulatory framework for digital assets.
Senator Lummis has emerged as a prominent figure in the US legislative arena in favor of Bitcoin. On multiple occasions, she has defended the benefits and potential of Bitcoin as an innovative financial alternative.
By Leonardo Perez
