Well now, you’re settin’ yourself down with Crypto Long & Short, that weekly hornswoggle of news and numbers cooked up for folk who like countin’ their gold before the rooster crows. Sign yourself up if you’re the type who likes this nonsense hitting your mailbox every Wednesday.
Now, what does one do with such an absurd pile of cash? Buy more Bitcoin, obviously! And not just a sprinkle here or there; oh no, they’re snapping up over *1,000 Bitcoins* like it’s discounted candy at Slugworth’s Sweet Shop. Their audacious goal? To become the first Bitcoin treasury company listed on a major European exchange. How delightfully ambitious! 🎩✨
Recent data reveals that wallets holding Bitcoin for extended periods have started to stir, much like a sleepy bear awakening from hibernation. The Long-Term Holder Binary Spending Indicator, a metric that tracks the movement of older Bitcoin wallets, now shows increased activity. Historically, such spikes have occurred near price peaks and before broader corrections, a fact that does not escape the keen eyes of market analysts.
So, here’s the deal: Galaxy Digital (Nasdaq/TSX: GLXY) dropped the news on Sept. 3 that Superstate will act as the SEC-registered transfer agent for tokenized Class A Common Stock. It’s all legal, guys. The tokens will actually represent the real shares-not some made-up, synthetic version. The companies say these tokens will have the same rights as regular old stock. Fancy, right?
Yet, beneath this stern facade, the government sneaks around with the subtlety of a cat burglar. In March of this year, they established the Pakistan Crypto Council, led by none other than the finance minister-perhaps to ensure that no blockchain idea escapes without a good dose of bureaucracy. This, naturally, is a sign that even the most stubborn regulators are beginning to consider that maybe, just maybe, digital currencies are not the devil incarnate. The industry’s appetite is growing, and the government, in its infinite wisdom, seems determined to not be left behind. 🍽️🚀
Sure enough, today those long-term bond yields took a grand leap upwards. The crowd at the financial circus is on the edge of their seats, wondering if Bitcoin will join the party and shoot up like a rocket fueled by fairy dust.
So here’s the tea: ArbitrumDAO has officially launched its DeFi Renaissance Incentive Program, aka DRIP if you like acronyms that sound like your coffee order. They’re throwing $40 million and 24 million ARB tokens at the problem of “how do we get everyone borrowing, lending, and looping like pros” on Arbitrum.
The prevailing whiff of doom suggests OG whales-those ancient titans holding coins since the Paleolithic era-are dumping their stacks. Sure, Galaxy threw around 80,000 BTC like confetti at a New Year’s bash, and other whales have been busy. Bitcoin did hit $100,000 last year, probably shocking the old guard into a mini panic sale.
One might call this a bullish omen, as if the market’s supply of sell orders has been magically transformed into a timid choir of hodlers. Fewer SHIB transfers to exchanges? Why, it’s practically a love letter to the bulls! But let’s not forget-the exchanges still hoard trillions of SHIB tokens, a slumbering giant that could wake at any moment to crush dreams like a grumpy landlord evicting tenants. 🏚️
What to know, dear reader: