Michael Saylor, the mastermind behind MicroStrategy’s Bitcoin investment strategy, hinted that the company may have added more Bitcoin to its holdings over the weekend.
In a Dec. 15 post to X, Saylor questioned whether the SaylorTracker portfolio tracker was “missing a green dot,” implying another Bitcoin purchase by the firm.
Consistent Purchasing Pattern
Saylor has shared the SaylorTracker chart on five consecutive Sundays since Nov. 10, with Bitcoin purchases being confirmed the following Monday each time.
If confirmed for a sixth time, this purchase would mark MicroStrategy’s first acquisition at an average Bitcoin price exceeding $100,000.
According to CoinGecko, Bitcoin hasn’t traded below six figures since 5:00 pm UTC on Dec. 13.
MicroStrategy previously reported buying Bitcoin at average prices of $97,862, $95,976, and $98,783 over the past three Mondays, from Nov. 25 to Dec. 9, according to SaylorTracker data.
A new purchase at similar levels would bring the company closer to reaching a $50 billion Bitcoin portfolio.
As of Dec. 15, MicroStrategy held 423,650 Bitcoin, valued at over $43.6 billion.
Bitcoin Milestones and Market Impact
This potential purchase came just a day before Bitcoin reached a new all-time high of $106,554.
Saylor has made it clear the company won’t slow down its Bitcoin buying spree, stating he’s “sure” MicroStrategy will continue purchasing even at a price of $1 million per Bitcoin.
MicroStrategy’s Stock Performance
MicroStrategy’s (MSTR) stock has soared 496.4% year-to-date, according to Google Finance.
The impressive performance has earned the company a spot in the Nasdaq-100, a prestigious index comprising the 100 largest non-financial companies listed on Nasdaq.
With its consistent investments, MicroStrategy remains a major force in the Bitcoin ecosystem.
Crypto exchange Coinbase is being sued for over $1 billion by BiT Global Digital Limited, alleging market harm after Coinbase’s November decision to delist Wrapped Bitcoin (wBTC).
In a Dec. 13 complaint, BiT Global accused Coinbase of delisting wBTC to promote its own product, cbBTC.
The move allegedly caused significant financial losses and damaged consumer confidence in wBTC.
The lawsuit claims attempted monopolization of the wrapped Bitcoin market under the Sherman Act, predatory practices to undermine wBTC, and false statements suggesting wBTC failed to meet listing standards.
Coinbase announced the token delisting on Nov. 19, citing undisclosed failures to meet its listing standards.
A Coinbase spokesperson defended the decision, stating: “Coinbase is committed to maintaining the high integrity of our listing standards, and we regularly evaluate assets listed on our platform. Should an asset fail to meet those standards, it is delisted.”
BiT Global, a Hong Kong-based crypto exchange, has been a joint custodian of wBTC reserves with BitGo since August.
The lawsuit, filed in the Northern District of California by law firm Kneupper & Covey, alleges Coinbase favored memecoins while challenging wBTC’s compliance with listing standards.
Attorney Kevin Kneupper stated, “We believe this decision sets a terrible precedent for everyone in the cryptocurrency space. If an exchange of Coinbase’s size can delist a cryptocurrency just as it plans to launch its own competing product, who’s safe? And who’s next?”
The lawsuit seeks damages exceeding $1 billion and demands injunctive relief to prevent further harm.
BiT Global claims Coinbase aimed to eliminate competition, stating: “It’s clear that Coinbase’s decision is an attempt to gain a competitive advantage, pushing forward their own wrapped Bitcoin product, cbBTC, and removing the largest and most influential competitor in wBTC.”
Coinbase previously announced: “Based on our most recent review, Coinbase will suspend trading for wBTC on Dec. 19, 2024, on or around 12 pm ET.”
Nasdaq announced that MicroStrategy (MSTR), led by prominent Bitcoin advocate Michael Saylor, will be added to the Nasdaq-100 Index starting Dec. 23.
MicroStrategy joins Palantir Technologies Inc. (PLTR) and Axon Enterprise, Inc. (AXON) as new additions to the index, according to a Dec. 13 statement from Nasdaq.
Meanwhile, Illumina, Inc. (ILMN), Super Micro Computer, Inc. (SMCI), and Moderna, Inc. (MRNA) will be removed.
MSTR Now Among Nasdaq’s Largest Companies
MicroStrategy, originally a software company that pivoted into becoming a de facto Bitcoin hedge fund in 2020, is now among Nasdaq’s 100 largest stocks by market capitalization.
Its inclusion also means that the Invesco QQQ Trust (QQQ), an ETF managing $322 billion in assets, will add MSTR to its portfolio.
Crypto Industry Reacts to the News
The announcement sparked excitement across the crypto community.
Crypto analyst Will Clemente commented on X, “Now that MSTR is getting added to the Nasdaq, every large pension fund, sovereign wealth fund, and individual retirement account in the world is going to have Bitcoin exposure.”
Jeff Park, head of alpha strategies at Bitwise Invest, declared, “The trade of the decade is just getting started. Buckle up.”
Felix Hartmann, founder of Hartmann Capital, added, “This news is not priced in until public markets open,” predicting active managers benchmarking against Nasdaq would adopt direct exposure to Bitcoin or MSTR to stay competitive.
Saylor’s Bitcoin Push Extends to Microsoft
This development follows Michael Saylor’s recent attempt to persuade Microsoft’s board to embrace Bitcoin.
During Microsoft’s annual meeting on Dec. 10, Saylor proposed that adopting Bitcoin could add nearly $5 trillion to Microsoft’s market cap.
“Microsoft can’t afford to miss the next technology wave, and Bitcoin is that wave,” Saylor argued.
Nasdaq announced that MicroStrategy (MSTR), led by prominent Bitcoin advocate Michael Saylor, will be added to the Nasdaq-100 Index starting Dec. 23.
MicroStrategy joins Palantir Technologies Inc. (PLTR) and Axon Enterprise, Inc. (AXON) as new additions to the index, according to a Dec. 13 statement from Nasdaq.
Meanwhile, Illumina, Inc. (ILMN), Super Micro Computer, Inc. (SMCI), and Moderna, Inc. (MRNA) will be removed.
MSTR Now Among Nasdaq’s Largest Companies
MicroStrategy, originally a software company that pivoted into becoming a de facto Bitcoin hedge fund in 2020, is now among Nasdaq’s 100 largest stocks by market capitalization.
Its inclusion also means that the Invesco QQQ Trust (QQQ), an ETF managing $322 billion in assets, will add MSTR to its portfolio.
Crypto Industry Reacts to the News
The announcement sparked excitement across the crypto community.
Crypto analyst Will Clemente commented on X, “Now that MSTR is getting added to the Nasdaq, every large pension fund, sovereign wealth fund, and individual retirement account in the world is going to have Bitcoin exposure.”
Jeff Park, head of alpha strategies at Bitwise Invest, declared, “The trade of the decade is just getting started. Buckle up.”
Felix Hartmann, founder of Hartmann Capital, added, “This news is not priced in until public markets open,” predicting active managers benchmarking against Nasdaq would adopt direct exposure to Bitcoin or MSTR to stay competitive.
Saylor’s Bitcoin Push Extends to Microsoft
This development follows Michael Saylor’s recent attempt to persuade Microsoft’s board to embrace Bitcoin.
During Microsoft’s annual meeting on Dec. 10, Saylor proposed that adopting Bitcoin could add nearly $5 trillion to Microsoft’s market cap.
“Microsoft can’t afford to miss the next technology wave, and Bitcoin is that wave,” Saylor argued.
Crypto exchange Coinbase is being sued for over $1 billion by BiT Global Digital Limited, alleging market harm after Coinbase’s November decision to delist Wrapped Bitcoin (wBTC).
In a Dec. 13 complaint, BiT Global accused Coinbase of delisting wBTC to promote its own product, cbBTC.
The move allegedly caused significant financial losses and damaged consumer confidence in wBTC.
The lawsuit claims attempted monopolization of the wrapped Bitcoin market under the Sherman Act, predatory practices to undermine wBTC, and false statements suggesting wBTC failed to meet listing standards.
Coinbase announced the token delisting on Nov. 19, citing undisclosed failures to meet its listing standards.
A Coinbase spokesperson defended the decision, stating: “Coinbase is committed to maintaining the high integrity of our listing standards, and we regularly evaluate assets listed on our platform. Should an asset fail to meet those standards, it is delisted.”
BiT Global, a Hong Kong-based crypto exchange, has been a joint custodian of wBTC reserves with BitGo since August.
The lawsuit, filed in the Northern District of California by law firm Kneupper & Covey, alleges Coinbase favored memecoins while challenging wBTC’s compliance with listing standards.
Attorney Kevin Kneupper stated, “We believe this decision sets a terrible precedent for everyone in the cryptocurrency space. If an exchange of Coinbase’s size can delist a cryptocurrency just as it plans to launch its own competing product, who’s safe? And who’s next?”
The lawsuit seeks damages exceeding $1 billion and demands injunctive relief to prevent further harm.
BiT Global claims Coinbase aimed to eliminate competition, stating: “It’s clear that Coinbase’s decision is an attempt to gain a competitive advantage, pushing forward their own wrapped Bitcoin product, cbBTC, and removing the largest and most influential competitor in wBTC.”
Coinbase previously announced: “Based on our most recent review, Coinbase will suspend trading for wBTC on Dec. 19, 2024, on or around 12 pm ET.”
An early Bitcoin investor from Austin, Texas, has become the first person criminally charged for failing to report crypto capital gains, involving about $4 million in cryptocurrencies.
According to the U.S. Department of Justice (DOJ), Frank Richard Ahlgren III, a Bitcoin investor, “falsely underreported the (realized) capital gains” from selling Bitcoin worth $3.7 million between 2017 and 2019.
The DOJ stated: “All taxpayers are required to report any sale proceeds and gains or losses from the sale of cryptocurrency, such as Bitcoin, on a tax return.”
Ahlgren began investing in Bitcoin in 2011 and purchased 1,366 BTC on Coinbase in 2015 when Bitcoin was under $500.
In October 2017, he sold approximately 640 BTC at an average price of $5,807.53, generating $3.7 million, which he reinvested in real estate.
However, discrepancies were found in Ahlgren’s 2017 federal income tax return.
“Ahlgren then filed a false 2017 federal income tax return that substantially inflated the cost basis of the bitcoins, thereby underreporting his true capital gain from his sale of bitcoins,” the DOJ noted.
In addition, Ahlgren failed to report over $650,000 in Bitcoin sales in 2018 and 2019.
He attempted to conceal the movement of funds using wallet transfers, crypto mixers, and in-person cash transactions.
The DOJ revealed: “In total, the tax loss from Ahlgren’s criminal conduct was over $1 million.”
Acting Deputy Assistant Attorney General Stuart Goldberg commented that Ahlgren’s underreporting and concealment “earned him a two-year sentence.”
In a landmark decision, the two-year sentence marks the “first criminal tax evasion prosecution centered solely on cryptocurrency,” according to Lucy Tan, Acting Special Agent in Charge of the IRS Criminal Investigation Houston Field Office.
Tan stated, “Ahlgren will serve time because he believed his cryptocurrency transactions were untraceable.”
Ahlgren has also been ordered to serve one year of supervised release and pay $1.1 million in restitution to the U.S. government.
Bitcoin neared its all-time highs on Dec. 12, coming within 1% as whales absorbed sell-side liquidity.
BTC Price Comeback Targets Record Levels
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing back to $102,000 following the Wall Street opening bell.
This recovery built on the previous day’s momentum, which saw Bitcoin gain nearly $5,000 in a single green daily candle.
Material Indicators, a trading analytics platform, highlighted the role of high-volume traders in the latest rally.
“FireCharts binned CVD shows that whales are back to making whale-sized market orders,” the platform noted in an X post.
“Now that BTC has reached deeper concentrations of ask liquidity, whales can make those larger market orders without the slippage they would have endured over the previous 2 days when price was moving through a range with thinner liquidity.”
An accompanying chart illustrated whale activity and liquidity shifts for the BTC/USDT pair on Binance, the world’s largest cryptocurrency exchange.
Sell-Side Pressure and Market Dynamics
Despite the bullish surge, popular trader Skew observed that sell-side pressure remained significant enough to limit Bitcoin’s upward potential.
“As long as passive buyers continue to slurp we break up eventually,” Skew remarked to followers on X.
Meanwhile, The Bitcoin Researcher struck a cautious tone, emphasizing the need for a reset in short-term holder (STH) profitability to sustain price growth.
Using the market value to realized value (MVRV) metric for STHs—entities holding BTC for up to 155 days—the account explained:
“I’d like to see the Short-Term Holder MVRV return closer to its baseline.
A rising price without STH-MVRV reset often signals an impending market top—rarely sustainable for long.
Reset or not, both outcomes provide clear, but opposite, on-chain signals.”
The Bank of England’s regulatory arm, the Prudential Regulation Authority (PRA), has called on businesses to disclose their current and planned crypto asset exposures by March 2024.
In a statement released on Dec. 12, the PRA urged firms to outline their “current and expected future cryptoasset exposures” and detail their compliance with the Basel framework for regulating crypto activities.
“This will inform work across the PRA and the Bank of England on cryptoassets by helping us calibrate our prudential treatment of cryptoasset exposures, [and] analyze the relative costs and benefits of different policy options,” the PRA stated.
The Basel framework, introduced by the Basel Committee on Banking Supervision in December 2022, defines capital and risk management standards for banks exposed to cryptocurrencies.
The PRA aims to use the collected data as a foundation for monitoring the financial stability risks posed by crypto assets.
Firms are required to account for their crypto-related plans extending through September 30, 2029.
The PRA’s questionnaire highlights critical areas of interest, including firms’ application of the Basel framework and their use of permissionless blockchains.
“While there are benefits that these new types of ledgers can bring, they also pose risks such as lack of settlement finality, settlement failure, and no guaranteed link between the intended owner of the asset and the entity that may have control of the authentication, validation mechanism,” the questionnaire states.
The PRA emphasized that risks tied to permissionless blockchains “cannot be sufficiently mitigated at present” but noted that the classification remains under review.
Globally, companies are increasingly investing in Bitcoin, spurred by its historic six-figure valuation.
On Nov. 29, Hong Kong-based Boyaa Interactive International disclosed a treasury adjustment, swapping $50 million in Ether for Bitcoin.
A day earlier, Japan’s Metaplanet announced plans to raise $62 million to increase its Bitcoin treasury, which already holds over $114 million in assets.
Nvidia is embroiled in a class-action lawsuit alleging it misled investors about the scale of its GPU sales to cryptocurrency miners.
On Dec. 11, the U.S. Supreme Court dismissed Nvidia’s appeal to throw out the case, issuing a one-line order without explanation.
This decision reinstates a Ninth Circuit appellate court ruling that revived the lawsuit, which had previously been dismissed by a California district court in March 2021.
The lawsuit, filed by Nvidia shareholders, claims the company concealed over $1 billion in GPU sales to crypto miners.
It also accuses CEO Jensen Huang of downplaying the volume of these sales to the industry.
“We would have preferred a decision on the merits affirming the trial court’s dismissal of the case, but we are fully prepared to continue our defense,” an Nvidia spokesperson told Cointelegraph.
“Consistent and predictable standards in securities litigation are essential to protecting shareholders and ensuring a strong economy, and we remain committed to supporting them.”
The shareholders allege that Nvidia’s revenue was significantly bolstered by crypto miners during the 2018 market boom.
When the crypto market crashed later that year, Nvidia’s sales fell sharply, causing its share price to drop nearly 30% over two days.
In its defense, Nvidia argued that the lawsuit relied on fabricated information about its business and income.
However, the Justice Department and the Securities and Exchange Commission opposed Nvidia’s appeal, stating, “This is not what occurred here.”
The investors’ case reportedly includes evidence such as statements from former Nvidia executives and a Bank of Canada report alleging the company understated its cryptocurrency revenue by $1.35 billion.
In 2022, Nvidia paid $5.5 million to the SEC to settle charges related to inadequate disclosures about crypto mining’s impact on its gaming business, though it did not admit to or deny the findings.
Alipay, China’s largest payment platform with over 1 billion users, reportedly displayed Bitcoin and cryptocurrency-related advertisements to users in mainland China.
On Dec. 12, local news agency Sina Finance reported that many mainland users saw promotional ads for spot Bitcoin exchange-traded funds (ETFs) on their Alipay homepages.
The ad encouraged crypto investments, stating: “Global investment, cryptocurrency soaring, 10 yuan minimum investment, get on board now.”
The promotion referred users to Huabao Overseas Technology C (QDII-FOF-LOF), which allegedly has indirect exposure to Coinbase stock and the ARK 21Shares Bitcoin ETF.
$140 Daily Purchase Limit
Colin Wu, a well-known market observer, noted on X that mainland users are limited to a daily purchase of 1,000 Chinese yuan ($137) of the fund’s shares, with a minimum investment of 10 yuan ($1.40).
“It indirectly invested in Coinbase stock and ARK spot Bitcoin ETF by investing in Wood Sister’s fund. In addition, Huabao Technology and many similar QDIIs advertise cryptocurrency on Alipay,” Wu added.
The first reports of crypto-related ads on Alipay surfaced on Dec. 11, with blockchain outlet ChainCatcher citing community reports.
Some users confirmed seeing the ads and speculated that “the next step is to buy Bitcoin directly with Alipay.”
Crypto Ads Explained
According to Yifan He, CEO of Red Date Technology, Alipay’s parent company Ant Financial Services Group offers some US ETF trading services.
“So allowing the Bitcoin ETF would not surprise me,” He told Cointelegraph, noting that all transactions are conducted in Chinese yuan.
He suggested the ads were likely placed by third parties exploiting loopholes, adding, “It doesn’t mean anything. They will disappear soon.”
Alipay’s Anti-Crypto Stance
In 2019, Alipay banned Bitcoin-related transactions, aligning with China’s anti-crypto policies.
Despite an ongoing crackdown since 2017, Chinese authorities have declared crypto assets as legal properties protected by law.