On Friday the 12th of December-mark your calendars because this is a day for the financial history books-Reuters spilled the tea that Strategy, ticker symbol MSTR, has survived its first Nasdaq 100 rebalancing. This is no small feat, considering it’s the largest corporate holder of Bitcoin. Yes, you heard that right! If Bitcoin were a high school, Strategy would be the kid that somehow avoids getting shoved into a locker.
On The Wolf Of All Streets Podcast-because who doesn’t love a good wolf-Thielen insisted the cycle’s “still playing out”, but not in the way Bitcoin fans used to fantasize. Gone are the days where halvings dictated all; these days, it’s January’s messy political spectacle and the Fed’s dance moves that take center stage. And honestly, I’d argue the cycle is more like a political soap opera than a predetermined schedule-drama, unpredictability, and a dash of hope that this time, Bitcoin might actually do something interesting.
Capital A and Standard Chartered Bank Malaysia have signed a letter of intent (LOI) – a formality, no doubt, but one which signals a seriousness of purpose – to delve into this digital currency. It is to be achieved through the auspices of Bank Negara Malaysia’s Digital Asset Innovation Hub (DAIH).
Picture this: these venerable giants of the crypto seas are selling call options-that’s fancy talk for giving someone the right, but not the obligation, to buy their Bitcoin at a set price in the future. In exchange? They pocket a nice little premium. But here’s the rub-every time they do this, the market makers on the other side of the table rush in to buy these options, then scramble to hedge their bets by selling actual Bitcoin. And what does that do? It drives the price down, of course! Because who needs rising prices when you can enjoy a nice little slide instead? 😏📉
The noble Bitcoin (BTC), once a king among coins, now stumbles through the mud, its crown askew after a 2.45% decline in the last 24 hours. How the mighty fall! 🥁
Key Takeaways (Because Who Needs Clarity?)
According to the oracles at Shibburn, this nosedive follows a previous day’s bonfire of 187,420 tokens, a figure now as distant as the dreams of early adopters. This week, the conflagration has been but a flicker, with fewer than a million tokens consigned to the abyss on several days. Over the past seven days, a mere 54,584,068 SHIB tokens have been sacrificed, a 10.11% decline in the weekly ritual of incineration.
Intriguingly, despite the deputy’s stern discourse, India’s crypto aficionados revel as if at a grand ball, each participant more audacious than the last in an ambiance saturated with unfathomable taxes and stringent red tape. Ah! What sweet denial tastes civility! 🎭
