FameEX Morning Crypto News Recap | January 4, 2024

Peter Schiff Foresees Limited Institutional Demand and Speculator Liquidation in Spot Bitcoin ETFs

Economist Peter Schiff predicts that the U.S. SEC's approval of spot Bitcoin ETFs won't have a substantial market impact. He contends that Bitcoin ETFs are redundant, as individuals can readily acquire and store Bitcoin without fees. Schiff foresees limited investor interest in these ETFs and anticipates speculators selling their holdings post-approval, leading to a subdued market reaction.

Mysterious Wallet Vaults into Bitcoin's Top 10 Holders with 8,888 BTC Accumulated on New Year's

An anonymous wallet has become the tenth-largest Bitcoin holder after accumulating 8,888 Bitcoins by year-end, amassing approximately 66,465.20 Bitcoins valued at nearly $3 billion. The wallet reports unrealized profits exceeding $1 billion, with an average entry point around $25,000, as noted by X accounts.

Jim Cramer Reiterates Bitcoin's Endurance as a Long-Lasting Technological Wonder

Jim Cramer, the CNBC Mad Money host, voiced confidence in Bitcoin, highlighting its enduring status as a technological marvel that's firmly established. He opposed Charlie Munger's negative stance on Bitcoin, asserting that it shouldn't be underestimated and deserves recognition as a lasting innovation in the financial landscape.

Matrixport Report Forecasts Slim Chances for SEC Approval of Spot Bitcoin ETFs in January, Expects Price to Fall Below $40,000

Matrixport, a cryptocurrency financial platform, forecasts the U.S. SEC's reluctance to approve a spot Bitcoin exchange-traded fund (ETF) in January. Their analysis indicates that this potential non-approval by the SEC may trigger a decrease in Bitcoin's price to the $36,000-$38,000 range, as outlined in their report.

Cipher Mining's Acquisition of 16,700 New Miners in Readiness for Bitcoin Halving

In Q2, Cipher Mining aims to enhance its mining capabilities by installing the newest Avalon A1466 miners at its Bear and Chief Mountain facilities in Texas. This expansion will boost the company's self-mining capacity to 8.4 exahashes per second (EH/s), a development announced on January 3rd.

NFT Projects Start Granting 'Gratis' Company Equity to Token Holders

During the holiday season, the creators of two NFT collections announced intentions to grant company equity to NFT holders. Despite potential legal and regulatory issues, the founder maintains that it's legal since the shares weren't sold. They sought legal advice, and NFT buyers didn't anticipate receiving equity when acquiring their NFTs.

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