Bitcoin News: March 11, 2023
Price Summary
* Bitcoin (BTC): $25,300, up 5%
* Ethereum (ETH): $1,750, up 3%
Market Update
The cryptocurrency market experienced a bullish surge today, with Bitcoin (BTC) and Ethereum (ETH) leading the gains. Bitcoin broke above the $25,000 resistance level, while ETH climbed above $1,700. Market sentiment remains cautiously optimistic as investors anticipate further price appreciation.
Key News
* Tesla Buys $1.5 Billion in Bitcoin: Elon Musk’s electric car company, Tesla, disclosed in a recent SEC filing that it had purchased an additional $1.5 billion worth of Bitcoin during the fourth quarter of 2022. This move signals Tesla’s continued bullishness on the digital asset.
* SEC Launches Investigation into Binance.US: The U.S. Securities and Exchange Commission (SEC) has reportedly opened an investigation into Binance.US, the American arm of the world’s largest cryptocurrency exchange. The probe focuses on the possible listing of unregistered securities on the platform.
* Nexo Faces Lawsuit from SEC: Nexo, a popular cryptocurrency lending platform, is facing a lawsuit from the SEC alleging that it sold unregistered securities in the form of its Earn Interest Product. The agency claims that Nexo failed to register the product with the SEC and misled investors.
Other Notable Events
* Bank of Russia to Pilot Digital Ruble: The Bank of Russia is set to launch a pilot program for its digital ruble in 2023. The central bank aims to explore the potential benefits and challenges of a central bank digital currency (CBDC).
* MicroStrategy Buys More Bitcoin: MicroStrategy, a business intelligence company, announced today that it had purchased an additional 918 BTC for approximately $25 million. The company now holds over 132,500 BTC.
* Bitcoin Ordinals Gain Popularity: Bitcoin Ordinals, a new concept that allows for the storage of data on the Bitcoin blockchain, is gaining popularity. Ordinals have been used to create digital collectibles, art, and even music.
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