🏦 BTC is a Trillion Dollar asset again

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Good Morning!

Looks like our audience is bullish on Bitcoin. Here’s last editions poll. 👇️ 

Will Bitcoin be higher or lower in 12 months?

🟩🟩🟩🟩🟩🟩 MUCH higher

🟨⬜️⬜️⬜️⬜️⬜️ Slightly Higher

🟨⬜️⬜️⬜️⬜️⬜️ The same

🟨⬜️⬜️⬜️⬜️⬜️ Slightly Lower

⬜️⬜️⬜️⬜️⬜️⬜️ Send it to 0

But, how bullish? Let’s see.

Markets 

Bitcoin Hits $51K, Regains $1T Market Capitalization (2 minute read)
Bitcoin (BTC) surged past $51,000, reaching a market capitalization of $1 trillion for the first time since December 2021, according to data. This uptick is combined with options traders anticipating prices to potentially reach $75,000 in the near future. Additionally, some traders are eyeing the $64,000 mark in the coming weeks, spurred by increasing demand for spot bitcoin exchange-traded fund (ETF) products. Notably, on Tuesday, BlackRock’s IBIT observed nearly $500 million in net inflows, suggesting significant buying interest.

When to sell (3 minute read)
In the midst of the frenzy over coin selection and portfolio allocations, it's amusing to see how both everything and nothing truly matter. Your past decisions leading up to this moment will likely have minimal impact on your overall outcome in this market cycle. Tradinglord elaborates: the reality is, a vast majority of coins will see gains, whether they possess groundbreaking concepts, dubious schemes, innovative technology, or questionable strategies. What truly counts is being part of the broader market movement. Moreover, the initial capital you invest today won't necessarily dictate your eventual net profit over the coming years; fortunes can be made or lost regardless of the starting amount. What truly matters is navigating the market's ups and downs, focusing on profit-taking and minimizing losses along the way.

Coinbase earnings prep: Profitability possible in Q4, but what’s next? (3 minute read) 
As Coinbase prepares to unveil its fourth-quarter results, analysts are eager to gauge whether the company can maintain its upward trajectory amid the recent surge in cryptocurrency prices. With expectations of significant improvements in trading revenue and the possibility of profitability, fueled by heightened trading volume driven by soaring cryptocurrency prices, all eyes are on Coinbase's performance during the final months of the year.

The anticipation is fueled by Bitcoin's notable price surge of over 50% in the fourth quarter, particularly ahead of the Securities and Exchange Commission's approval of the first US spot bitcoin ETFs on January 10th.

Tech

Starknet Foundation unveils STRK token distribution plan to nearly 1.3 million eligible wallets (3 minute read)
The Starknet Foundation has revealed its plan for distributing its native token, with approximately 1.3 million wallets eligible for rewards, encompassing early adopters of ecosystem dapps, network contributors, and other participants.

Today, the foundation's provisions unit will release the official outline of the STRK allocation, enabling users to verify their eligibility for distribution.

Beginning February 20, the distribution will permit approximately 1.297 million wallets to claim the STRK token, with a claiming window open until June 20. The total distribution encompasses over 700 million STRK tokens, constituting 7% of the total supply of 10 billion tokens.

Peter Thiel Made $200M Investment in BTC, ETH Before Bull Run (1 minute read)
Sources informed Reuters that Founders Fund initiated its bitcoin purchases when the price was below $30,000, steadily acquiring more BTC and ETH in subsequent months. Peter Thiel, a long-time advocate for bitcoin, has linked its price appreciation to his critique of central banks and fiat currency, expressing a sense of being "underinvested" during the 2021 bull market.

Last year, the Financial Times reported that Founders Fund sold most of its crypto holdings for $1.8 billion just before the onset of the crypto winter, although the fund had previously invested $15 to $20 million in bitcoin during the 2017-2018 bull market.

Misc

SEC likely to restrict ETF approvals to Bitcoin and Ethereum, says Cathie Wood (3 minute read)
In an appearance on the Wall Street Journal’s “Take On the Week” podcast, Wood expressed skepticism, stating, “We’d be surprised to see anything but bitcoin and ether being approved by the [SEC].”

Wood's comments highlight the ongoing debate surrounding the classification of cryptocurrencies, particularly with the SEC's approval process serving as a significant hurdle for many digital assets seeking legitimacy and wider market access through ETFs. The SEC chair, Gary Gensler, has previously categorized Bitcoin (BTC) as a commodity, facilitating the approval of Bitcoin ETFs, while Ethereum (ETH) and other cryptocurrencies remain in a regulatory grey area.

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