Here are the top three stories brought to you by U.Today.
Here are the top three stories brought to you by U.Today.
Bernstein sees Bitcoin reaching $150,000
In a recent note to clients, Bernstein, a global asset management firm, fixed that the price of Bitcoin is heading towards the $150,000 mark and urged investors to consider buying Bitcoin miners, pointing out the current bullish trend in the BTC market. According to the company, the current drop in the share price of Bitcoin miners offers a great opportunity to invest before the imminent halving, which is expected to significantly increase the price of the flagship coin. Bernstein’s analysis points to Bitcoin miners as the most viable capital option to participate in the ongoing rally. Gautam Chhugani, an analyst at the company, strongly believes that Bitcoin will reach the $150,000 mark. Significant capital inflows into Bitcoin have supported this optimism; $9.5 billion was invested in Bitcoin ETFs in the first 40 days after it launched in January. According to Chhugani, this is just the beginning of Bitcoin’s integration into mainstream investment portfolios. After the halving, expect more institutional investment.
332 Billion SHIB Moved to Robinhood Address, What’s Happening?
As reported by crypto data tracker Whale Alert, March 11th, 332,427,690,902 SHIB worth $10,858,584 were transferred from Cumberland to an unknown wallet. Further analysis via Etherscan revealed that the receiving address description is “Robinhood 2”. The enormous size of the transfer, along with the possible identities of the sending and receiving addresses, have sparked speculation about the motive behind the move. Since Cumberland primarily serves institutional investors in the financial industry through its over-the-counter institutional liquidity in various cryptocurrencies, there are several possibilities. The transfer could be part of a broader trend of institutional interest in SHIB, and Robinhood could grow its portfolio by offering SHIB trading to its millions of users. Alternatively, this could be an action taken by a whale that may be positioning itself for a major market action. At the moment, the exact reason for the transfer is still unknown.
Coinbase responds to the SEC and files an opening brief in the appeal process
In a recent development, Coinbase has filed an appeal against the SEC, thoroughly criticizing the regulator’s denial of its rulemaking request and challenging the SEC’s authority over the digital asset space. Coinbase CEO Paul Grewal has underscored the company’s frustration with the SEC’s “shallow denial” and unclear reasoning in a recent thread x. He emphasized the inconsistency in the SEC’s stance on its regulatory authority over digital assets. According to Coinbase, the absence of a clear regulatory framework makes it difficult to implement current laws related to digital assets and also prevents the industry from receiving the necessary guidance. This undermines the legal and operational foundations of the digital asset market.
