Tracker Shows Close to 3,000 Crypto ATMs Were Installed in 2022’s First Quarter

April 2, 2022 Bitcoin.com

Terra smash-buys $139M Bitcoin, wallet reaches 31,000 BTC

March 30, 2022 Coin Telegraph

Terra smash-buys 9M Bitcoin, wallet reaches 31,000 BTC

The Bitcoin wallet belonging to Terra amassed a further $139 million in Bitcoin, bringing its total coffers up to 31,000 BTC or $1.47 billion.

Watch out Michael Saylor! Do Kwon, CEO of Terraform Labs, is hot on the heels of MicroStrategy’s CEO. The Terra wallet has now amassed almost $1.5 billion in Bitcoin (BTC) following another huge BTC purchase.

The wallet address thought to belong to Terra (while not officially confirmed) received another 2,943.00002511 BTC ($139 million) on Wednesday. Wallet alert accounts on Twitter have been tracking the wallet.

The wallet began amassing colossal amounts of Bitcoin on Jan. 21 and has not sold a single satoshi.

*Terra Bitcoin wallet gradually then suddenly amassing billions in BTC. Source: BitInfoCharts*

According to the chart, while the wallet first injected almost 10,000 BTC on Jan. 21, it began stacking sats in earnest on March 22. The timing coincides with announcements from the CEO, who stated, “$UST with $10B+ in $BTC reserves will open a new monetary era of the Bitcoin standard.”

TerraUSD (UST), an algorithmic stablecoin, would be pegged to the value of the United States dollar, and the value of these “dollars” would be backed by Bitcoin reserves. Terra’s native token, Terra (LUNA), will also play a role in the creation of the stablecoin.

As a result, Kwon has been stacking sats harder and faster than even the biggest Bitcoin bulls. According to BitcoinTreasuries, Terraform Labs will soon sidestep Tesla as the second-largest holder of Bitcoin, with MicroStrategy in its sights.

*The current state of publicly traded companies with Bitcoin treasuries. Terra will soon rival Tesla. Source: BitcoinTreasuries*

Ultimately, Kwon’s aim — as he says in the following video — is to ensure his Bitcoin coffers rival that of Satoshi Nakomoto, the anonymous creator of Bitcoin.

Just getting started pic.twitter.com/dJrkf6YfrR
— TerraLunaaaa (@TerraLunaaaa) March 30, 2022

Meanwhile, with lackluster price action over the past 72 hours, it would appear that Terra’s buys are propping up the Bitcoin market, while LUNA is hitting new highs.

MicroStrategy subsidiary will purchase Bitcoin after closing $205M crypto-collateralized loan

March 29, 2022 Coin Telegraph

Bitcoin

The price of Bitcoin is $47,806 at the time of publication, making MicroStrategy's current 125,051 BTC holdings worth roughly $6 billion.

MacroStrategy, a subsidiary of business intelligence firm MicroStrategy, said it will purchase Bitcoin after obtaining a multimillion dollar loan from Silvergate Bank.

In a Tuesday announcement, MicroStrategy said Silvergate issued a $205 million loan “secured by certain Bitcoin held in MacroStrategy’s collateral account.” The firm's subsidiary MacroStrategy will be using the proceeds of the loan to purchase Bitcoin (BTC), pay fees and interest related to the loan and handle general corporate expenses.

“The SEN Leverage loan gives us an opportunity to further our position as the leading public company investor in Bitcoin,” said MicroStrategy CEO Michael Saylor. “Using the capital from the loan, we’ve effectively turned our Bitcoin into productive collateral, which allows us to further execute against our business strategy.”

MacroStrategy, a subsidiary of @MicroStrategy, has closed a $205 million bitcoin-collateralized loan with Silvergate Bank to purchase #bitcoin. $MSTR $SI https://t.co/QYw2ZgeE3U
— Michael Saylor⚡️ (@saylor) March 29, 2022

Launched in 2020, the Silvergate Exchange Network leverage service allows firms to secure BTC-collateralized loans for U.S. dollars. According to the bank, it had roughly more than $570 million in commitments as of Dec. 31.

Since making a $250-million BTC investment in August 2020, MicroStrategy now holds billions in the crypto asset following separate buys using the company’s cash on hand and proceeds of sales of convertible senior notes in private offerings to institutional buyers. With the BTC price at $47,806 at the time of publication, the firm’s 125,051 coins are worth roughly $6 billion.

Silvergate has helped provide capital to many companies involved in the crypto and blockchain industry. In October, the bank issued a $100-million credit line to crypto mining firm Marathon Digital to be used for funding its operations as well as expanding the number of BTC miners. Crypto.com announced a partnership with Silvergate in November aimed at allowing institutional clients to deposit and withdraw from the crypto exchange using U.S. dollars.

Trader builds Bitcoin ‘buy the dip’ bot, outperforms DCA

February 8, 2022 Coin Telegraph

Bitcoin Trader

A Redditor has created an automated dip-buying bot that beats dollar-cost averaging into Bitcoin by roughly 10%.

While a bullish backdrop emerges in February, spare a thought for the traders trying to time the market. One savvy trader by the name of u/Samjhill on Reddit has built a trading tool that outperforms dollar-cost averaging (DCA) for buying Bitcoin (BTC).

DCA is the strategy in which investors buy a small amount regularly regardless of price fluctuations. It works in contrast to traders keen to get the lowest entry, timing the dip to perfection and avoiding “catching a falling knife.”

The aptly named “Buy the Dip Bot” aims to “get the best price for a given asset by using a limit strategy.” Inspired by another Redditor who suggested a manual limit-buy-order strategy for getting the best price entry, u/Samjhill took the idea one step further, coding up a dip-buying bot.

The bot places limit orders at several intervals below the current price, and if an order gets executed or canceled, it starts again. Using tech from Amazon Web Services, Python, Lambda, DynamoDB and React.JS while hosted on GitHub, the cost to run is low, “about $5 per month.”

While the bot has been beavering away since December, it hit a maiden milestone on Monday. Reaching profitability versus regular dollar-cost averaging, “the price-per-coin advantage is about (cheaper) 5%–10% right now, which you could also think of as getting that much more coin for your money,” Sam told Cointelegraph.

The bot runs a backtesting library to work out the best entry points for the limit buys. A complex process, the work paid off, culminated in a “winning strategy.”

When asked by Cointelegraph if he would recommend the bot as opposed to regular DCA, Sam replied it depends on where you are in your BTC journey:

“For people just starting out, regular DCA probably makes more sense since your goal is probably to stack as many coins as possible. For those later in their journey, they might have a decent stack already and want to minimize increasing their cost basis and so might benefit more from this.”

Sam, who first learned of Bitcoin around 2013, added that he is doing both DCA and the limit strategy “to get a more even curve of coin growth.”

While the future is currently Bitcoin orange for the trading bot, Sam built the system for easy integration with other coins. Ether (ETH) features on the GitHub page, and Sam hints he may roll out other coins to production.

Binance buys the dip adding over 43K Bitcoin to wallet

January 6, 2022 Coin Telegraph

BTC Markets

A Binance whale wallet added 43,000 Bitcoin to its reserves while Bitcoin’s third-largest wallet continues to buy the dip.

Bitcoin billionaires continue to accumulate during the dip. As Bitcoin (BTC) filled the $42 thousand December price wick this morning, Bitcoin whales were busy stacking sats.

One address belonging to Binance added 43,000 BTC on Tuesday at an average price of $46,553.68, bringing the wallet's total value to $5.5 billion.

Elsewhere, the third-largest Bitcoin address continued its spending spree, adding another 551 BTC since Cointelegraph last reported it bought the dip, just two days ago. The wallet continues to aggressively accumulate in the $40 thousand range, now owning a total of 121,396 BTC or roughly $5 billion.

There was some consternation on social media platforms about the wallet owner behind the $43,000 BTC buy, but Binance confirmed ownership of the address in a tweet sent out in 2019.

For $BTCB, the $BTC reserve address is: 3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb

We have just reserved 9001 BTC and minted 9001 BTCB. https://t.co/344lxlqsMa

A trading pair on #Binance .com for BTCB/BTC will follow in a day or so, and we will issue a proposal on @Binance_DEX
— Binance (@binance) June 17, 2019

The intended use of wallet address "3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb" was for the company to issue a number of crypto-pegged tokens on Binance Chain, starting with BTCB, a BEP2 token pegged to BTC.

However, the wallet appears to have evolved into a cold storage wallet for the world’s largest cryptocurrency exchange. In a tweet by advanced blockchain tracker @whale_alert in April last year, the wallet was again labeled as the Binance BTC reserve wallet address.

Although the wallet has been used to mint 13,001 BTC onto the Binance Smart Chain, the owner has never sold a single Satoshi. Since June 17, 2019, it has accumulated a whopping 116,601.13647202 BTC.

At the time of writing, the wallet is valued at roughly $4,982,770,577 or just shy of $5 billion. Talk about diamond hands.

Over 20,000 Bitcoin ATMs Installed in a Year

December 30, 2021 Bitcoin.com

Ukrainians Offered New Crypto Services, Bitcoin Cards

December 16, 2021 Bitcoin.com

Institutions buying Bitcoin rather than gold as inflation cranks up: JPMorgan

October 8, 2021 Coin Telegraph

Bitcoin

According to JPMorgan this week’s rally has been driven by institutional investors hedging against inflation with Bitcoin.

Bitcoin (BTC) has led a 35% rally this week by soaring far above the $50,000 resistance level and restoring a $1 trillion market capitalization to the asset.

According to a note shared by JPMorgan with clients on Thursday, the recent increase in price for BTC was predominantly attributed to institutional investors looking for a hedge to inflation.

"The re-emergence of inflation concerns among investors has renewed interest in the usage of Bitcoin as an inflation hedge," the analysts said, arguing there has been a shift in perception as to the merits of BTC in relation to gold.

"Institutional investors appear to be returning to Bitcoin perhaps seeing it as a better inflation hedge than gold"

Institutions aren't alone there: Shark Tank star Kevin O’Leary stated earlier this week that crypto now accounts for a larger allocation in his portfolio than gold does.

The momentum toward Bitcoin is in contrast to a JPMorgan report in May, when analysts noted big investors at the time were switching out of Bitcoin and into traditional gold.

The implicit endorsement of Bitcoin by major banks and regulators is going to accelerate the collapse of #Gold and the rise of #Bitcoin as the preferred safe-haven store of value for both institutional and retail investors.https://t.co/7os1ojenHs
— Michael Saylor⚡️ (@michael_saylor) October 7, 2021

JPMorgan provided two other factors it believes are behind the current rally:

"The recent assurances by US policy makers that there is no intention to follow China's steps towards banning the usage or mining of cryptocurrencies," the analysts noted, as well as:

"The recent rise of the Lightning Network and 2nd layer payments solutions helped by El Salvador's Bitcoin adoption."

Unlike other analysts this week, JPMorgan did not cite speculation around the imminent approval of a Bitcoin futures ETF as a significant driver of the price.

BTC now trades at $53,884.76 according to CoinMarketCap at the time of writing.

Despite some divisions of JPMorgan expressing a growing interest in crypto assets and blockchain initiatives, CEO Jamie Dimon stated in an interview on Oct. 22 that he remains a skeptic of BTC and even compared it to “a little bit of fool’s gold”.

DoubleLine CEO sees Bitcoin buy moment at $23K, predicts US dollar will drop ‘pretty substantially’

July 15, 2021 Coin Telegraph

<div>DoubleLine CEO sees Bitcoin buy moment at K, predicts US dollar will drop 'pretty substantially'</div>

Bitcoin Price

According to Jeffrey Gundlach, the trading pattern for Bitcoin may suggest a price drop below $30,000.

Jeffrey Gundlach, the CEO of investment management firm DoubleLine, implied that Bitcoin could see more favorable activity in the long term than that of the U.S. dollar.

In a Wednesday interview on CNBC’s Halftime Report, Gundlach said he believed people would be able to purchase Bitcoin (BTC) for under $23,000 soon given the likelihood of the crypto asset forming a head-and-shoulders trading pattern. He was seemingly referring to a "head" when the BTC price peaked at more than $64,000 on April 13 and the shoulders as the early January surge to more than $40,000 and the recent drop to the $30,000s.

“I’m not a big believer in head-and-shoulders tops but this one looks pretty convincing,” said Gundlach. “Turning neutral at $23,000 was obviously too early, but I’ve got a feeling you’re going to be able to buy it below $23,000 again.”

Though the billionaire said he was bullish on the cryptocurrency early last year, he has always considered it a “highly speculative and highly volatile” asset, calling the current price chart “pretty scary.” While volatility would suggest price surges as well as drops, Gundlach’s views on the U.S. dollar beyond this year were seemingly more bearish.

The DoubleLine CEO speculated that both the U.S. trade and budget deficits, which have risen likely as a result of the economic fallout of the ongoing pandemic, may cause the dollar to “fall pretty substantially.” He added:

“In the short term, the dynamics have been and will continue to be in place for the dollar to be marginally or moderately stronger. In the longer term, I think the dollar [is] doomed.”

According to MarketWatch’s U.S. dollar index, the dollar was trading at 92.64 at the time of publication, rising roughly 0.25% in the last 24 hours. The price of Bitcoin has fallen roughly 4% to reach $31,436.

Gundlach, known by many as the “Bond King,” has previously called Bitcoin a good hedge against inflation along with gold but expressed concerns about cryptocurrencies’ traceability. DoubleLine currently has more than $135 billion in assets under management — none of which purportedly includes crypto — and the CEO has said he personally doesn’t “believe in Bitcoin.”

“I’ve never been long Bitcoin personally, I’ve never been short, it’s just not for me,” said Gundlach. “I don’t have that kind of risk tolerance in my DNA where I have to get worried to pull up the quote every day to see if it’s down 40%.”

buy

Share this video