This update can help to make investment decisions, understand regulatory changes, stay on top of technological developments, understand emerging use cases, and keep assets safe in the crypto ecosystem.
Bitwise Chief Investment Officer Matt Hougan has made predictions about Bitcoin ahead of the next halving, which is expected to occur in April 2028. They focus on reducing volatility, which has been a concern for investors, increasing portfolio allocation, suggesting that more investors will include the cryptocurrency in their investment portfolios.
Furthermore, this increase in allocation is expected to be accompanied by an increase in exchange-traded fund (ETF) flows. Another prediction from Hougan is a potential shift in the traditional financial system’s approach to cryptocurrencies and most notably, a Bitcoin price target of over $250,000 in the coming years, a significant increase from its current value.
Cathie Wood Buys More Bitcoin and Tesla Stock
Cathie Wood, one of the most recognized investors in the financial sector, and her investment firm, Ark Invest, continue to bet heavily on Bitcoin. Recently, Ark Invest announced a new purchase of Bitcoin, this time through adding shares to its ETF, ARK 21Shares.
The acquisition consisted of 490,751 shares, valued at $30 million. With this purchase, the ETF now owns a total of 45,177 BTC, approximately $2.8 billion. This news demonstrates Ark Invest’s continued confidence and interest in Bitcoin as a solid, long-term investment.
On the other hand, Ark Invest reported on the injection of its funds into the purchase of Tesla shares. Thus, it was known that it was $13.79 million in a total of 88,720 shares.
Tesla Kept its BTC in the First Quarter
Tesla, the electric car manufacturing company founded and led by Elon Musk, has revealed in its first quarter 2024 report that it continues investing in Bitcoin, news that has reassured crypto investors.
Neither Elon Musk nor the company has ever revealed the exact amount of Bitcoin that Tesla keeps on its balance sheet, although data tracked by Bitcoin Treasuries suggests that Tesla owns about 9,720 BTC, valued at almost $626 million.
PayPal Will Reward Bitcoin Miners for Using Green Energy
Payments giant PayPal, in collaboration with Energy Web and DMG Blockchain Solutions, has announced its approach to promoting environmentally sustainable practices in Bitcoin mining. This initiative proposes to independently reward miners with BTC when they verifiably use a significant portion of low-carbon energy sources in their mining operations.
PayPal’s Blockchain Research Group has developed a platform to verify the carbon footprint of miners and reward those who use green energy sources. Which will receive special “green keys”, associated with their public keys, paying fewer fees and obtaining additional rewards in Bitcoin.
These rewards will remain locked until claimed, motivating miners to adopt renewable energy sources in exchange for additional incentives in Bitcoin.
Former Binance CEO Could Receive Three-Year Prison Sentence
Binance founder Changpeng Zhao (CZ) faces a possible 3-year prison sentence, as recommended by the US Department of Justice (DOJ), after admitting guilt for violating money laundering laws.
In this regard, prosecutors indicated that “Taking into account the magnitude of Zhao’s deliberate violation of United States law and its consequences, a sentence above the 36-month guidelines is justified.”
Zhao’s lawyers asked the court for a probation sentence, arguing that “no defendant in a remotely similar BSA case has been sentenced to prison.” They also assure that CZ does not present any risk of recidivism, and propose that he be sentenced to probation instead of prison. Therefore, we will have to wait for the hearing for his sentence on April 30.
By Leonardo Perez
