Bitcoin ETFs Eclipse Satoshi Nakamoto’s Holdings | Key Points | Dec. 7, 2024
GM! Today we saw Bitcoin return to $100,000, although according to Coindesk, this new ascent is overshadowed by the failed coin launched by the Hawk Tuah girl…
But today is also Bicol Blockchain Conference, the yearly conference south of Manila that celebrates the region’s contributions to the national blockchain scene. One of the key highlights for me will be the keynote speech of crypto thought leader Luis Buenaventura entitled “Are we going to be rich this 2025?”
Follow the BitPinas Facebook page and Twitter to check out news from the conference today.
Onwards to today’s news!
Table of Contents
Market Analysis and Updates 📈
Here are the crypto highlights of the day:
Crypto Price Update
- Bitcoin (BTC): $100,357.23, up 3.1% over the last 24 hours.
- Ethereum (ETH): $4,017.35, up 4.1% over the last 24 hours.
- Solana (SOL): $236.33, down 0.8% vs the previous day.
Trending Coins Update
- Across Protocol: $1.11, up 9% 1.5vs the previous day.
- Koma Inu: $0.0739, down 5.8% over the last 24 hours.
- Evan: $0.0567, up 27.7% vs the previous day.
For the daily price update, check out our post on Facebook.
Bitcoin ETFs Eclipse Satoshi Nakamoto’s Holdings
U.S. spot Bitcoin exchange-traded funds (ETFs) have collectively surpassed the estimated holdings of Bitcoin’s creator, Satoshi Nakamoto.
- As of December 2024, these ETFs hold over 1.1 million BTC, outpacing Nakamoto’s presumed stash of around 1.1 million BTC.
What’s the significance: Today, Bitcoin has solidified its role as a mainstream financial asset which, fortunately or unfortunately, was not truly the original on why it was created to begin with.
The numbers:
- Bitcoin ETFs saw record inflows of $766 million on December 5, pushing total holdings to approximately 1,104,000 BTC.
- BlackRock’s iShares Bitcoin Trust leads the pack, holding over 500,000 BTC, or roughly 2.38% of the cryptocurrency’s circulating supply, Decrypt has reported.
- Analysts predict Bitcoin ETFs could surpass gold ETFs in assets under management by year-end if current trends persist.
What’s next: At least for regular traders and investors, the key is whether Bitcoin can sustain itself above $100,00.
For businesses in the crypto industry, it’s all about whether the regulatory clarity that the new U.S. administration is promising is actually going to deliver.
Philippine Crypto News 🇵🇭
- YGG shared a Beginner’s Guide to YGG Onchain Guild.
- Bicol Blockchain Community highlighted the speakers for its upcoming BBC 2024.
- Nelson Lumbres, ICP Hub PH co-founder, will speak at the DEVCON Summit 2024 at the University of Batangas, Lipa Campus.
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
- Vladimir Putin stated that Bitcoin cannot be banned, acknowledging its role as a non-restrictable digital asset amidst ongoing sanctions against Russia.
- Binance’s BNB token reached a new all-time high of $788, driven by a broader crypto market surge.
- YouTube views of crypto influencer content reached a 12-month high of 4.72 million in the week of November 25.
Educational Corner 🎓
- Following the recent completion of the Philippines’ pilot testing for its Central Bank Digital Currencies (CBDCs), discover the report about the current number of countries exploring CBDC.
- According to a 2023 BitPinas article, 131 countries were either exploring or had developed CBDCs, with 11 having fully implemented their systems.
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
- President-elect Donald Trump has nominated former SEC Commissioner Paul Atkins to chair the agency.
- The Australian Securities and Investments Commission (ASIC) proposes updated crypto rules, offering clarity and temporary relief for compliant businesses.
- Circle’s subsidiary commits to Canadian VRCA rules, securing USDC’s compliance and market presence.
Community Spotlight 🔦
Meet Ramon Tayag: He has been an advocate of cryptocurrencies since 2012.
- He is the Chief Technology Officer and Co-founder of BloomX.
- He has also been active in attending web3 events and talking about the industry, he previously spoke at the PH Web3 Summit discussing the impact of the FTX Collapse.
- Tayag was also a guest for the BitPinas Webcast episode 18.
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
- PancakeSwap launched SpringBoard, a no-code token launchpad on the BNB chain, offering easy token creation with customizable settings and no launch fees.
- Solana-based stablecoin project ISC Money is shutting down most of its operations due to failure to find product-market fit.
- Torram secured strategic backing from Blockchain Founders Fund (BFF) to develop institutional-grade decentralized finance (DeFi) infrastructure on Bitcoin
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
- Axie Infinity launched the Axie Adoption Center, allowing new players to adopt Axies for free by completing missions and earning points.
- Ubisoft’s Captain Laserhawk: The G.A.M.E. offers a free mint of 10,000 Niji Warrior ID NFTs on December 11, 2024.
- Xai is launching $55 “Tiny Sentry Keys” to provide accessible rewards within its Ethereum-based gaming ecosystem, available for purchase starting December 9.
Event Announcements 📅
Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space in the Philippines!
- Campus DEVCON Summit: December 7, 2024
- (PDAX) Happy HODLidays: A Year-End Meetup: December 7, 2024
- Bicol Blockchain Conference: December 7, 2024
- iThink Code Camp: Bulacan State University: December 10, 2024
- Rivalz ai.hack4PH: December 16, 2024
Stay Connected:
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- Join our Telegram group for real-time discussions!
We’d love to hear from you! Reply with your thoughts or questions.
This article is published on BitPinas: Bitcoin ETFs Eclipse Satoshi Nakamoto’s Holdings | Key Points | Dec. 7, 2024
