Weekly Crypto Market News / 9 – 15 January
- Trader Peter Brandt has recently shown his BTC forecast. According to it, the price will increase $30k by summer 2023, and in 2025 it will raise up to $175k.
Read more: @PeterLBrandt Official
- El Salvador has passed landmark legislation providing the legal framework for a Bitcoin-backed bond — known as the “Volcano Bond” — that will be used to pay down sovereign debt and fund the construction of its proposed “Bitcoin City”.
Read more: El Salvador passes landmark crypto bill, paving way for Bitcoin-backed bonds
- Chicago-based Group One Trading disclosed in a Securities and Exchange Commission filing on Tuesday the ownership of nearly 1.3 million shares of MicroStrategy (MSTR), which amounts to 13.5% of the company, or a dollar value of about $237 million at MSTR’s current price of $188 a share.
The owner of more roughly 132,500 bitcoin (BTC), MicroStrategy is sometimes considered a bitcoin proxy, allowing traders – who for regulatory or other reasons cannot or don’t want to own it – to place bets on the crypto’s direction. MSTR suffered along with bitcoin in 2022, its stock plunging more than 70% as bitcoin slumped from about $48,000 in late March to close the year out at $16,500.
Read more: Market Maker Group One Discloses 13.5% Stake in MicroStrategy
- CPI: US inflation falls to lowest in more than a year. A sharp drop in energy prices, in particular petrol, is helping to ease cost-of-living pressures in the US. US inflation was 6.5% over the 12 months to the end of December, down from 7.1% in November, the US Labor Department said.
That was the smallest increase in more than a year and marked the sixth month in a row that the pace dropped. Overall, prices slipped 0.1% over the month, driven by the fall in petrol prices.
Read more: CPI: US inflation falls to lowest in more than a year
- The Morgan Stanley Europe Opportunity Fund revealed in a filing it bought $3.6 million worth of GBTC, that being the Grayscale Bitcoin Trust that holds actual spot bitcoin.
Read more: Morgan Stanley Now Holds Bitcoin