🔹 Giant Company Announces $500 Million Bitcoin (BTC) Plan!

Riot Platforms has announced plans to issue $500 million in convertible senior notes, following MicroStrategy's strategy of raising funds to acquire Bitcoin (BTC). The notes will be due in 2030 and proceeds from the offering will be used for purchasing Bitcoin and covering general corporate expenses.

An additional $75 million in notes may be issued if the initial purchasers choose to exercise their option. The notes will be unsecured and convertible into cash, stock, or a combination, with specific terms set at pricing. The offering will target qualified institutional buyers under Rule 144/A of the Securities Act.

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🚨 Derive Protocol Crosses $100M in Value Locked as Bitcoin Whales Make Waves in Options Trading

CoinDesk reports a surge in demand for cryptocurrency derivatives, particularly on the decentralized finance (DeFi) platform Derive, which has seen its total value locked (TVL) exceed $100 million. This growth aligns with record trading volumes and active traders, with Derive also reaching an all-time high in notional volume of $369 million and 5,416 monthly active trades. The platform offers a range of products, including options, perpetuals, and margin trading.

In the options market, a notable whale implemented a covered call strategy, selling BTC call options and collecting over $1.6 million in premiums. This strategy allows the whale to profit if Bitcoin remains below $105,000 by March, while protecting against losses if prices exceed $130,000.

Additionally, traders are engaging in DeFi carry trades using sUSDe, a reward-bearing token, as collateral to borrow USDC at lower rates, benefiting from the spread between sUSDe's high yield and borrowing costs. This highlights the growing complexity and attractiveness of options and structured products in the crypto market.

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Bitcoin's recent price correction has been linked to the announcement of Google's Willow quantum computer, which some believe could threaten cryptocurrency security. However, experts refute this notion, stating that:

- Google's Willow chip has only 105 qubits, far below the estimated 13 million qubits needed to compromise Bitcoin's encryption.

- Bitcoin developers are already working on making the cryptocurrency quantum-safe.

- If quantum computing becomes a viable threat to Bitcoin, traditional banking systems would also be at risk.

- For Willow to pose a real threat, it would need to be affordable and widely accessible, which is unlikely given the current market, as seen with the availability of NVIDIA's H200.

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Just checked my crypto portfolio, everything is fine

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$1 BILLION $USDT minted by Tether Treasury

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💎 Vancouver City Council Passes Pro-Bitcoin Motion Citing Fiat Challenges

Vancouver's city council has approved a motion to explore accepting bitcoin (BTC) for tax and fee payments and to establish a bitcoin reserve. Proposed by Mayor Ken Sim, the motion aims to diversify the city's financial reserves and payment options to enhance financial stability. City staff are tasked with reporting on the feasibility of a "bitcoin-friendly city" strategy by the end of Q1 2025.

This marks a notable shift from previous policy, as former Mayor Kennedy Stewart had sought to ban bitcoin ATMs in 2019. Vancouver is also notable for being the childhood home of former Binance CEO Changpeng 'CZ' Zhao and the headquarters of the failed crypto exchange QuadrigaCX.

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😄 Less than 1% of Microsoft Shareholders Voted for BTC Proposal

Only 0.55% of Microsoft (MSFT) shareholders supported a proposal to add bitcoin (BTC) to the company's balance sheet, according to a recent SEC filing. The proposal, put forth by the National Center for Public Policy Research, suggested allocating 1% of total assets to BTC as a hedge against inflation.

However, Microsoft's board opposed the idea, citing bitcoin's volatility and preferring stable investments. Other shareholder motions, including reports on AI misinformation and risks of weapons development, also failed to pass. Prediction markets estimated a 12-16% chance of the proposal being approved, reflecting skepticism about Microsoft's adoption of bitcoin.

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🚨 Stablecoin Market Cap Hits $200B Milestone, Could Double in 2025 as Adoption Accelerates

The stablecoin market has reached a significant milestone, surpassing $200 billion in total market value for the first time. This growth, which added $10 billion in just two weeks, follows increased demand and adoption of stablecoins, which are cryptocurrencies designed to maintain a stable value, primarily pegged to the U.S. dollar.

Tether's USDT remains the leading stablecoin, hitting a record supply of $139 billion, while Circle's USDC grew to nearly $41 billion. The rise in stablecoin usage is driven not only by the recovering crypto market but also by their application in payments, remittances, and savings, particularly in developing countries facing economic challenges.

Innovative tokenized products, like Ethena's USDe token and Usual's stablecoin, have also contributed to this growth. Analysts predict the stablecoin market could reach $400 billion by 2025, especially if U.S. Congress passes legislation defining regulations for stablecoins. This regulatory clarity could attract traditional banks and increase stablecoin integration in fintech applications, further driving adoption. Standard Chartered and Zodia Markets also forecast that stablecoins could represent 10% of the U.S. money supply in the future.

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Crypto 5 mins after i sell

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Texas State Representative Giovanni Capriglione has officially submitted a bill to create a Strategic Bitcoin Reserve for the state.

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💸 Bitcoin Grapples with $100K as Rally on Trump's Crypto-Positive Comment Fizzles

Bitcoin (BTC) initially appeared poised for a new record high but fell sharply in U.S. afternoon trading, dropping to $99,800 as bond markets negatively impacted risk assets. Earlier in the day, President-elect Donald Trump expressed optimism about cryptocurrency during the NYSE opening bell, emphasizing his plans to embrace digital assets and establish a strategic bitcoin reserve.

Despite bitcoin reaching $102,500, it couldn't maintain this momentum, and broader risk assets also declined, with U.S. and German bond yields rising. U.S. stocks closed lower, and gold prices dropped by 1.8%.

In contrast, altcoins generally outperformed BTC, with Avalanche (AVAX) and Chainlink (LINK) seeing significant gains, driven by investment news and ongoing purchases linked to Trump-affiliated projects. Ethereum (ETH) also fared well, posting a 1.5% gain and showing potential for reaching new highs above $5,000 due to strong market activity.

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💠 Avalanche Raises $250M Amid Major Overhaul of Layer-1 Blockchain

Avalanche, a layer-1 blockchain, has successfully raised $250 million in a token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital, with participation from over 40 investment firms. This funding follows the launch of the Avalanche9000 upgrade in a testnet environment, which aims to significantly reduce transaction and validator costs—by 99%—to facilitate app development on the network.

Since the announcement of the token sale, AVAX, Avalanche's native token, has increased by 4.95% and is up 9.6% in the last 24 hours. The broader crypto market, as reflected in the CoinDesk 20 Index, has risen by 2.48% during the same period. Avalanche currently ranks as the 10th-largest blockchain by total value locked (TVL) at $1.6 billion, according to DefiLlama data.

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🚨 MicroStrategy to Enter Nasdaq 100, Exposing Bitcoin-Linked Stock to Billions in Passive Investment Flows

MicroStrategy (MSTR) is set to join the Nasdaq-100 Index, becoming the first bitcoin-focused company to achieve this milestone. The Nasdaq-100 tracks the 100 largest non-financial companies on the Nasdaq exchange, which includes major players like Apple, Nvidia, and Amazon.

Following the announcement, bitcoin's price rose modestly, surpassing $102,000. As of November 29, MicroStrategy had a market cap of approximately $92 billion, positioning it as the 40th largest company in the Nasdaq 100, with an expected weighting of 0.47%. This inclusion will significantly increase the Nasdaq 100's exposure to bitcoin, as MicroStrategy holds about $42 billion in bitcoin assets. ETFs tracking the Nasdaq 100 have over $550 billion in assets, with Invesco's QQQ Trust being the largest at more than $300 billion.

Analysts suggest that this development could be among the top stories of 2024, especially as passive investment funds will likely increase their holdings in MicroStrategy. However, there are concerns that the company's inclusion may be temporary, as it could be reclassified as a financial firm due to its reliance on bitcoin for value. The Nasdaq 100 rebalancing, which includes this change, will take effect on December 23.

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🔹 Larger Cohorts Than U.S. ETFs or MicroStrategy Are Dictating Bitcoin Price: Van Straten

Since Donald Trump's election victory on November 5, bitcoin (BTC) has surged from $67,000 to around $100,000, accompanied by a significant increase in trading volume. Bitcoin's total trade volume has surpassed $100 billion, with futures trading reaching an all-time high of about $120 billion on November 17. However, futures volume has since stabilized around $100 billion, while spot trading volume has doubled from $6 billion to $12 billion, and U.S. ETF trade volume has also risen to $4 billion daily.

Bitcoin is fluctuating around the $100,000 mark, influenced by substantial selling pressure from long-term holders (LTHs), who have sold 843,113 BTC since September. Meanwhile, short-term holders (STHs) have accumulated 1,081,633 BTC during the same period.

In comparison, MicroStrategy has added 197,250 BTC to its holdings, while U.S. ETFs have increased their total by approximately 205,000 BTC. For bitcoin to break above $100,000 decisively, LTHs need to reduce their selling or new investors must enter the market to drive demand.

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🚨 Polygon DAO Weighs $1.3B Stablecoin Deployment to Generate $70M Annual Yield

A community cohort within the Polygon DAO is considering a proposal to utilize over $1 billion in idle stablecoin reserves held on the Polygon PoS Chain bridge to generate yields. The bridge currently holds around $1.3 billion in stablecoins, representing a potential annual opportunity cost of about $70 million due to their inactivity.

The proposal suggests using Morpho Labs' vaults to manage USDC and USDT, targeting a conservative 7% annual return through investments in high-quality collateral. The yield generated would be reinvested into the Polygon ecosystem to foster growth.

If the initial community check approves the idea, separate proposals will be required for the deployment of each asset—DAI, USDC, and USDT—into decentralized finance (DeFi) protocols. Meanwhile, Polygon's POL token has seen a 5% decline in the past 24 hours, reflecting a broader downturn in the crypto market.

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👨‍💻 Ether Volume Overshadows Bitcoin on HyperLiquid as Platform Activity Hits $500B

HyperLiquid, an on-chain perpetuals trading protocol on its custom layer 1 blockchain, is achieving significant milestones, notably seeing more trading activity in ether (ETH) than in bitcoin (BTC). The platform's cumulative perpetuals volume has surpassed $500 billion, reflecting a remarkable 15-fold increase year-to-date. Recently, it has averaged over $5 billion in daily volume, accounting for more than 45% of total on-chain perpetuals market activity.

This week, ether perpetuals registered a cumulative trading volume of $7 billion, outpacing bitcoin's $5.94 billion. Ether also leads in cumulative notional open interest on the platform, with $857.5 million active, representing nearly 25% of a total of $3.49 billion.

HyperLiquid's success is attributed to its focus on product-market fit, combining institutional-grade performance with DeFi accessibility, such as no KYC requirements. The platform offers incentives for active traders, which aligns with user needs.

Additionally, the recently launched HYPE token has surged over 300% since its introduction, reaching a market value of $5.69 billion, surpassing established DeFi protocols like Aave. This surge follows a record airdrop and indicates strong investor confidence, as demand for HYPE has consistently outpaced supply. The airdrop distributed 31% of HYPE's total supply, valued at $1.9 billion, highlighting the token's role in securing the platform's consensus mechanism and facilitating transactions.

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Bitcoin surges to $105,000 for the first time in history, now worth a record ~$2.1 trillion.

Bitcoin is now ~10% away from being bigger than Google by market cap.

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