Bitcoin News

Abra CEO Bill Barhydt has pointed out a significant shift among midcap companies and nonprofit organizations, who are increasingly converting their cash reserves into Bitcoin (BTC) following the successful strategy pioneered by MicroStrategy (MSTR).

After a prolonged period of decline in which the price of Bitcoin fell below $54,000, the cryptocurrency managed to rise again to $60,000.

Bitcoin ETFs in Hong Kong and Australia have seen significant inflows, setting new records amid a large sell-off by the German government. Globally, the Bitcoin ETF market has accumulated 1.05 million BTC.

Bitcoin (BTC) has once again faced resistance below the $60,000 mark, signaling a potential rally in the future despite recent challenges.

On Friday, July 12, U.S.-based spot Bitcoin exchange traded funds (ETFs) registered inflows of $310.1 million, their best day since June 5 and for the entire week.

MicroStrategy’s executive chairman, Michael Saylor, has again promoted Bitcoin, suggesting its use within the United States Treasury.

Russia is reportedly considering allowing Bitcoin and cryptocurrency trading for select investors as part of efforts to boost international crypto settlements amid ongoing geopolitical challenges.