bitcoinBTC/USD
$ 107,004.67 2.18%
ethereumETH/USD
$ 2,725.72 1.97%
tetherUSDT/USD
$ 1.00 0.01%
bnbBNB/USD
$ 663.81 0.61%
solanaSOL/USD
$ 157.76 4.13%
staked-etherSTETH/USD
$ 2,719.91 2.15%
usd-coinUSDC/USD
$ 1.00 0.00%
xrpXRP/USD
$ 2.23 3.86%
cardanoADA/USD
$ 0.678119 5.27%
dogecoinDOGE/USD
$ 0.187406 6.02%
the-open-networkTON/USD
$ 3.16 2.13%
shiba-inuSHIB/USD
$ 0.000013 4.77%
avalanche-2AVAX/USD
$ 20.81 5.56%

Here’s what happened in crypto today

Market


MicroStrategy’s Bitcoin (BTC) gambit is paying off big time so far in 2024. Meanwhile, United States Securities and Exchange Commission (SEC) Chair Gary Gensler posted a thread on X reminding investors about the dangers of investing in crypto. Over the weekend, the securities regulator securities regulator has reissued a warning to investors about crypto “FOMO” — days ahead of the anticipated approval of spot Bitcoin ETF. 

MicroStrategy’s Bitcoin bags up nearly $1B this year

Business intelligence firm MicroStrategy has netted nearly $1 billion in gains on its Bitcoin holdings so far in 2024, according to industry statistics.

Per Bitcoin Treasuries, the Bitcoin-rich company has seen its BTC bags appreciate by more than $800 million in the first nine days of the year. MicroStrategy currently has 189,150 BTC on its books, with its last purchase occurring on Dec. 27.

Former CEO and current chairman Michael Saylor has seen his Bitcoin stash appreciate by nearly $3 billion. Saylor personally owns more than 17,000 BTC, placing him among the world’s largest Bitcoin whales.

The Bitcoin price is hovering just below $47,000 amid speculation that the U.S. Securities and Exchange Commission will soon approve a spot BTC ETF.

Gensler issues warning on crypto safety

SEC Chair Gary Gensler has issued a series of warnings about the safety of investing in cryptocurrencies — presumably as the regulator gets set to approve a spot Bitcoin ETF, as has been widely reported. 

In a Jan. 8 X post, Gensler reminded the investing public that crypto “can be exceptionally risky” and “often volatile.” He did not specifically mention a Bitcoin ETF. 

“Fraudsters continue to exploit the rising popularity of crypto assets to lure retail investors into scams,” Gensler said. “These investments continue to be replete w/ fraud- bogus coin offerings, Ponzi & pyramid schemes, & outright theft where a project promoter disappears w/ investors’ money.”

The SEC has yet to approve a spot Bitcoin ETF, though several filers have amended their applications with the commission.

SEC reissues crypto ‘FOMO’ warning amid hope for spot Bitcoin ETFs

The United States Securities and Exchange Commission (SEC) has reissued a warning about FOMO crypto investing — only days ahead of the anticipated approval of spot Bitcoin exchange-traded funds.

In a Jan. 6 post to X (formerly Twitter), the SEC’s Office of Investor Education again warned retail investors of the risks associated with digital assets, including meme stocks, cryptocurrencies, and nonfungible tokens (NFTs).

One of the first appearances of the “Say no go to FOMO” blog post came on Jan. 23, 2021, amid a roaring crypto and equities bull market that saw Bitcoin, Ether (ETH) , and many other altcoins reach new all-time highs by November 2021. The warning was issued again around March 2022 when the markets were cooling.

Several users across social media theorized the report could suggest the SEC is soon to approve one or more spot Bitcoin ETFs, which is currently awaiting a decision sometime before a Jan. 10 deadline.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.