Another crypto week is behind us. A summary of the most important news was prepared for you by Sebastian Seliga from zondacrypto.
Bitcoin crosses the magical barrier of $100,000
The past week will go down in gold medals in the history of cryptocurrencies. Digital asset pioneer Bitcoin has reached an unprecedented high of $103,900, sparking euphoria among investors and blockchain enthusiasts. This historic event coincided with a series of positive news from the institutional market.
MicroStrategy, under the charismatic leadership of Michael Saylor, continues its aggressive BTC accumulation strategy by purchasing another 21,550 bitcoins for $2.1 billion. The total value of the company’s bitcoin reserves exceeded the astronomical amount of USD 40 billion, confirming the growing trust of institutions in this asset class.
Innovation and technological development zondacrypto
In response to the dynamic market development, zondacrypto is introducing a comprehensive metamorphosis of its platform, while expanding its reach through strategic partnerships. The new user interface, designed for maximum intuitiveness and efficiency, goes hand in hand with the introduction of the ZND Loyalty Program, which offers six levels of membership with attractive benefits such as increased APR rates for staking and exclusive airdrops. In parallel, the exchange has entered into a groundbreaking partnership with LV BET, introducing innovative cryptocurrency payment solutions to the Polish iGaming sector.
The institutional revolution is gaining momentum
The market was electrified by information about the plans of two technology giants. Microsoft shareholders voted against a proposal to invest in bitcoin during its annual general meeting. The proposal, presented by the National Center for Public Policy Research and supported by MicroStrategy’s Michael Saylor, would add bitcoin to the company’s balance sheet as a way to diversify assets. Microsoft’s board officially opposed the proposal, calling it “unnecessary” and preferring less volatile assets for its corporate portfolio. After the decision was announced, bitcoin remained in the range of $96,000-$100,000, while Microsoft shares remained stable. This decision shows that despite the growing adoption of bitcoin, large corporations are still cautious about direct investments in cryptocurrencies. At the same time, Amazon shareholders were offered a minimum 5% allocation in bitcoin, which could have a domino effect among Fortune 500 corporations.
BlackRock’s iShares Bitcoin Trust (IBIT) continues its impressive streak, raising over 500,380 BTC worth approximately $48 billion. Eleven days in a row of positive inflows demonstrates the continued appetite of institutional investors.
A breakthrough in regulation and adoption
The Czech Republic has introduced groundbreaking regulations, exempting investments in BTC held for over 3 years from tax. This is the first such case in the European Union, which may inspire other countries to take similar steps. At the same time, Iran has made a significant turn in its cryptocurrency policy, legalizing mining and planning to use bitcoin in international trade.
Vancouver has positioned itself as a pioneer in North America by announcing a comprehensive plan to integrate bitcoin into the city’s finances. The program includes the creation of reserves in BTC, a tax payment system in cryptocurrencies, and partnerships with local blockchain companies.
Technological arms race
Solana is emerging as a serious competitor to Ethereum, recording a 47% increase in the number of active developers and exceeding 2 million daily transactions. The capitalization of the DeFi ecosystem on Solana has reached an impressive USD 15.7 billion.
Ethereum, however, maintains its leadership position with 4,800 monthly active developers and a TVL in DeFi of $89 billion. The success of Layer 2 solutions (Optimism, Arbitrum) confirms the effectiveness of the network scaling strategy.
Prospects and threats
Experts remain optimistic about the future of the market. ARK Invest’s Cathie Wood predicts Bitcoin’s growth to $500,000 by 2026, while Michael Saylor recommends the US sell gold reserves to BTC.
Technical analysis indicates strong support in the $92,000-94,000 range, with key resistance at $105,000. On-chain metrics show record network activity, with 1.2 million active addresses per day.
Summary
The week of December 6-13, 2024 confirmed the maturity of the cryptocurrency market and increasing integration with the traditional financial system. Bitcoin exceeding the USD 100,000 level may be a catalyst for the next wave of institutional adoption, especially in the context of positive regulatory changes and the development of market infrastructure.
You can buy Bitcoin and other cryptocurrencies in a simple and safe way on the zondacrypto exchange.
