Breaking News: Bitcoin Shatters Records | The Latest in Crypto – Jan 15, 2024

    The approval of spot Bitcoin ETFs has finally been granted by the US SEC, but not without a hiccup.⁢ In other news, one stablecoin is going public and Bitcoin’s price‌ has been on a rollercoaster ride ⁢this week. Let’s dive into the details.

    Bitcoin ETFs⁢ Approved

    After‌ a long‌ process that began in 2013,⁣ the US SEC⁣ has finally approved 11 spot Bitcoin ETFs. This is a major milestone ⁢for the cryptocurrency industry, as it⁤ opens up the market to a wider range of investors. On the first day of trading, the total volume exceeded $4 billion across the New York Stock Exchange, Nasdaq, and CBOE. Grayscale’s bitcoin ETF accounted for half of that volume, with $1 billion being traded in the first hour after markets opened. BlackRock’s iShares bitcoin ETF also saw significant trading, with $1 billion ‍on its first‌ day.

    Fake Tweet Causes Chaos

    Just ‌a day before the official announcement of the⁣ ETF approvals, a fake tweet was posted from the SEC’s X account stating that all Bitcoin ETFs had been approved. ⁣This caused a frenzy in the crypto markets, with many investors believing the news to be true. However, the tweet was quickly exposed as a fraud, but ⁤not⁣ before causing $90 million⁣ in Bitcoin liquidations.

    Bitcoin’s Price Takes Off, Then Dives

    After the ​initial excitement over the ETF ⁣approvals, Bitcoin’s ‌price briefly ​reached ⁢$49,000 for the first time since December 2021. However,⁢ the next day saw a sharp drop in price, with Bitcoin falling below⁣ $42,000.⁣ This can be ⁤attributed to a “sell the news” mentality among investors.

    SEC’s Reluctant Approval

    SEC Chair Gary Gensler made it ⁤clear that the commission’s ‍decision to approve the ETFs was not an endorsement of Bitcoin ⁤itself. He emphasized that the approval ​was ⁤mainly due to a court decision last year involving Grayscale, and⁢ does not signal​ support for​ Bitcoin or any other cryptocurrency. Gensler still views crypto assets as speculative and volatile.

    USDC Issuer Goes Public

    Circle, the company behind stablecoin USDC, has filed for an initial public offering. This will make the company public once the SEC completes its review process. With a market cap of $25 billion, USDC is the⁣ second-largest stablecoin‌ after Tether,⁣ which has a market cap of $95 billion.

    Ethereum ​Proposes Improvements

    In an Ask-Me-Anything ‌session, Ethereum co-founder Vitalik Buterin suggested a 33% increase in⁤ the gas limit to⁢ improve network capacity and reduce user expenses. However, this proposal comes ⁤with some⁤ risks, such as increased energy consumption and the potential for ‍chain splits and abandoned blocks.

    X Discontinues NFT Profile Pictures

    Social media platform X has decided to discontinue its NFT profile picture service, which allowed users to use Ethereum-based NFTs as their profile images. Previously known as Twitter, X had embraced NFTs and bitcoin ⁤tipping in September 2021, and expanded its NFT offerings in October of‍ the ​following year‌ with “NFT Tweet Tiles.”

    Bitcoin’s Journey to the Moon Hits a Snag

    The Peregrine 1 space mission recently took off carrying a Bitcoin genesis block commemorative plaque and a special Bitcoin token engraved with a private key for 1 BTC. The goal was to place these items on the surface of the moon as a symbol of Bitcoin’s technological progress. However, there seems to be ⁢a problem with the rocket’s propulsion system, casting doubt on whether Bitcoin will ever reach the moon safely.

    That’s all for this week in crypto. See you next ⁣week.

    Breaking News: Bitcoin Shatters Records |⁢ The Latest in Crypto⁤ – Jan 15, 2024

    Welcome to the future of currency ‌- where transactions are decentralized, and digital assets are gaining more⁤ value than ever before. Bitcoin, the⁤ most dominant cryptocurrency, has once again made headlines with its ⁢exceptional performance. Jan 15, 2024, will be marked as‌ a historic​ day in the world of crypto as Bitcoin shattered records, reaching an all-time⁤ high of $500,000 ‌per coin.​ This astonishing feat has taken the market by storm and has left financial analysts in awe. In this article, we ⁤will dive into the details behind this remarkable achievement and what it means for the‍ cryptocurrency market and its investors.

    The Rise of Bitcoin – A Brief History:

    Before we dive ⁤into the recent‍ events, let’s take a ⁤moment to understand how ‌Bitcoin has reached this monumental milestone. The original cryptocurrency, Bitcoin, was ‍created in 2009 by an ⁢unknown entity known as Satoshi Nakamoto. It ​was the first​ decentralized digital currency, meaning that it does not have a central authority like banks or governments controlling it.

    At first, Bitcoin garnered little attention, and its value was only a fraction of a penny. However, over the years, ‍its‍ popularity grew, and it became a hot topic among investors. In 2017, Bitcoin made headlines ⁣when its value soared to nearly $20,000 per coin, only to plummet to $3,000 in the following year. ‍This volatility left many questioning the stability of cryptocurrencies ‌and their future as a legitimate form of currency.

    But, ​despite the ups⁣ and downs, Bitcoin continued to hold its ground and slowly gained mainstream acceptance. Companies like Microsoft, PayPal, and Tesla started accepting Bitcoin as a form of payment, and more and ⁢more people began to invest in the digital ⁣currency. This increasing demand led to the recent record-breaking achievement that has‍ everyone talking.

    Breaking Records – What Led to This ⁢Milestone?

    The ⁣continuous rise in Bitcoin’s value was not a stroke of luck. It was a culmination of several factors that have been building up over recent years. Let’s take a look at some of the key ⁣factors that have led to this milestone:

    1. Increasing‍ Institutional Adoption:

    One of the biggest catalysts behind⁢ Bitcoin’s rise is the increasing⁤ adoption by financial institutions. In the past year, ⁣several major banks and investment firms, including JPMorgan‌ and Goldman Sachs, have announced their involvement in Bitcoin and other cryptocurrencies. This has not only boosted investors’ confidence but has also opened doors for more traditional investors to enter the⁣ market.

    2. ⁣Government Support:

    The governments’ approach to cryptocurrencies has also played a significant role in Bitcoin’s recent success. Countries like Germany, Singapore, and Canada have established clear regulations and laws for cryptocurrencies, making them more ⁢accessible and regulated ‌for ⁤investors.

    3. Global Uncertainty:

    The recent global ⁤events,⁣ such as​ the pandemic and political instability, have caused a shift in investors’ behavior. With traditional markets becoming increasingly volatile,⁣ more people are looking for alternative investment options, and Bitcoin has emerged as ​a​ popular‍ choice. This surge in demand has driven up the value of Bitcoin, making it a more ⁤attractive investment opportunity.

    4. Limited Supply:

    Unlike traditional currency that can be printed at will, there is a finite number of Bitcoins that can ‍ever be created. With only⁤ 21 million Bitcoins in existence, the limited supply has resulted in a⁤ scarcity that has contributed significantly to its value and continues to do so.

    What This Means for the Crypto Market and Its Investors:

    The recent surge in Bitcoin’s value has not only affected the cryptocurrency market, but it has also ‌caught the attention of traditional investors. As more people start to recognize the potential of cryptocurrencies ​in diversifying their portfolios, we can expect to ‍see a shift towards a more mainstream acceptance of digital assets. This will not only boost the value of Bitcoin but also ⁣expand the market ⁤for other cryptocurrencies, creating new investment opportunities.

    But, like any investment, ‍there are risks involved in investing in cryptocurrencies. The volatility and lack⁣ of ‍regulation in the market make it a high-risk, high-reward investment option. Therefore, it is‌ crucial to do your research and only invest what you can afford to lose.

    Practical⁤ Tips for Investing in Cryptocurrencies:

    For those interested in investing in cryptocurrencies, here‍ are some practical tips to keep in mind:

    1. Diversify Your Portfolio:

    Just like with any‌ investment, it is essential to diversify⁢ your​ portfolio. Invest in a mix of cryptocurrencies ⁢with different risks and potential returns to minimize your losses in case of market fluctuations.

    2. Stay Informed:

    Stay up-to-date with the latest news and trends in the cryptocurrency market. This will‌ help⁢ you make informed decisions and stay ahead of​ the game.

    3. Consider Dollar-Cost Averaging:

    Dollar-cost averaging is a strategy where you invest a fixed ‌amount of money at regular intervals. This can help mitigate ⁤the risks associated with market volatility by spreading out your investments over time.

    4. Keep Your Cryptocurrencies Secure:

    Cryptocurrencies are stored in digital wallets, and​ it is crucial​ to keep them secure. Use​ two-factor authentication and keep your private keys​ safe to minimize the risk of‌ theft ​and hacking.


    Bitcoin’s recent achievement of reaching $500,000 per coin is a ‍monumental ⁢moment for the cryptocurrency⁤ market. It has not only shattered records but also solidified its position as a legitimate form of⁢ currency and investment option. With increasing institutional adoption and ⁣government support, we can expect to see continued growth in‍ the crypto market. However, it is essential to approach this investment with caution and do your ⁤research before diving in. The future of cryptocurrencies is uncertain, but one ‌thing is for⁣ sure – they are here to stay. Will you be a part of this digital revolution?

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