Bitcoin fell to $92,000 before recovering to $96,000. This holiday roller coaster reflects the joyous volatility of the crypto market as investors confront upcoming events of the season that could trigger market changes.
KULR Technology Group purchased 217.18 Bitcoins for a not-so-subtle price of $21 million as part of its Bitcoin Treasury strategy, which allocates up to 90% of its excess cash to Bitcoin.
The company said it intends to pursue these acquisitions and has selected Coinbase’s Prime platform for Bitcoin custody and wallet services.
Specializing in advanced energy management, KULR provides storage solutions for industries such as space, aerospace and defense. They design, test and manufacture batteries, providing efficient and cost-effective energy systems to meet their customers’ needs.
On Christmas Eve, BlackRock’s iShares Bitcoin Trust ETF saw its largest outflow in a single day, with $188.7 million withdrawn, bringing total outflows from U.S. Bitcoin funds to more than $1.5 billion in four days.
Ironically, Ethereum ETFs attracted more investment, and the reasoning is still up for debate.
Despite withdrawals from Bitcoin ETFs, US Bitcoin funds have now surpassed gold ETFs in terms of assets under management, signaling a shift in investor preferences.
Donald Trump has named former college football player and unsuccessful congressional candidate Bo Hines as executive director of his new President’s Council of Advisors on Digital Assets.
Hines will work directly under new “Crypto Tsar” David Sacks. Their mission is to drive innovation and growth in the U.S. cryptocurrency industry.
Announced through Trump’s Truth Social platform, the appointment is part of broader technology-focused leadership aimed at strengthening America’s technological dominance. Despite his background, Hines is responsible for leading efforts to create a thriving environment for the crypto industry in the United States.
Vivek Ramaswamy’s Strive Asset Management has announced the launch of a new Bitcoin Bond Exchange Traded Fund (ETF) filing with US regulators.
This ETF will focus on convertible bonds from companies like MicroStrategy that are large investors in Bitcoin. With Ramaswamy behind Strive, the move comes as many expect the Trump administration to create a friendlier regulatory environment for crypto.
