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Bitcoin (BTC), which has been flirting with the $40,000 level in recent days, finally broke through it Monday to trade above $41,600 at press time. This is the highest price since Terra’s crash. Bitcoin’s price was flirting with the $40,000 mark in recent days and finally broke it on Monday, trading above $41,600 at press time. This represents a rise of 6 %. per day. This surge in crypto prices also boosted the price of other stocks. Microstrategy and Coinbase, a crypto exchange, both jumped nearly 9% during pre-market trading. Crypto miners like Marathon Digital (MARA), Riot (RIOT), and Riot (RIOT), added more than 10 percent. Other top 10 cryptocurrencies ranked by market capitalization showed smaller gains. BNB coin, a token associated with Binance, also showed little change.

Grayscale, a crypto asset manager, has hired Invesco’s former head of Americas John Hoffman to lead the distribution and partnerships team. This is six weeks before the decision will be made on whether or not the company can launch a bitcoin (BTC), exchange-traded fund (ETF).

U.K. legislators are asking that the government consider lowering the holding limits of a digital pound, and ensure its design will not block the ability to pay interest. The U.K., as well as its 27-nation neighbour, the European Union have proposed that retail digital currency should not earn interest like bank deposits. U.K. lawmakers in the Treasury Committee of House of Commons, the lower chamber of parliament, expressed concerns in a report released on Saturday about the U.K.’s plans for a digital currency from the central bank (CBDC). The government said that a digital pound would “likely” be needed in the future.

Chart of the Day

  • The chart below shows the price of bitcoin since May 2022 and the number entities that control addresses with at least 1,000 BTC.
  • The price of bitcoin has been rising steadily since September 2022.
  • The metric is closely monitored for divergences that could be used as trend reversal indicator.

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– Omkar Godbole

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Sheldon Reback is the editor.