FameEX Morning Crypto News Recap | March 7, 2024

Founder of MicroStrategy Predicts: Bitcoin ETF to Rival S&P 500 Index and Eventually Outperform Gold ETF

MicroStrategy's founder discussed in an interview how Bitcoin ETFs from BlackRock and Fidelity surpassed his expectations, evolving beyond mere competitors to gold. They've advanced significantly, now beginning to challenge the S&P 500 ETF, marking a notable rise in Bitcoin's standing and appeal within the broader investment landscape.

El Salvador's Bitcoin Portfolio Approaches $160 Million in Value, Garnering $53.69 Million in Profits

As of March 6th, with the Bitcoin price at $66,845, El Salvador's Bitcoin holdings are valued at $159 million, yielding a profit of $53.69 million. Historical data indicates an average acquisition cost of $44,292 for El Salvador, which now possesses 2,381 Bitcoins in its national treasury.

Yesterday, BlackRock's Bitcoin Spot ETF Added 12,600 BTC, Narrowing the Gap to MicroStrategy's Holdings

Yesterday, BlackRock's iShares Bitcoin ETF (IBIT) saw a significant expansion, acquiring 12,600 bitcoins valued at over $778 million, marking the ETF's largest single-day increase ever. With this addition, IBIT's total bitcoin holdings now exceed 183,000, inching closer to MicroStrategy's stash of 193,000 bitcoins, highlighting a competitive positioning in the cryptocurrency investment landscape.

Spain Orders Sam Altman’s Worldcoin to Cease Data Collection

Worldcoin, having reached 1 million daily users on its WorldApp, faces regulatory challenges in Spain. On March 6, the Spanish Agency for the Protection of Data (AEPD) mandated a halt to Worldcoin's data collection and processing activities within the country. A temporary ban has been imposed on its operations, effective for three months.

Europe Lacks a Bitcoin ETF, Yet Leads in Varied Cryptocurrency Investment Opportunities

Despite the SEC's approval of spot Bitcoin ETFs, the European Union's stringent regulations prevent their availability in the EU. Nevertheless, Europe offers alternative investment avenues for cryptocurrencies, such as Bitcoin exchange-traded notes (ETNs), which fall under the same category as ETFs, providing a safe investment option for those interested in the crypto market.

Bitcoin's Value Reaches $72K in South Korea Amidst Revival of 'Kimchi Premium'

The price of Bitcoin exceeded $72,000 in South Korea, driven by an increase in the "Kimchi premium," indicating heightened retail enthusiasm while the government considers approving spot Bitcoin ETFs. This price disparity, referred to as the Kimchi Premium or Korea Premium Index, has shown an upward trend alongside Bitcoin's price since the beginning of February.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.