BTC Bitcoin Cryptocurrency Betting
Bitcoin is the cryptocurrency that started it all. There are dozens of other Cryptocurrencies you can use to deposit at BookMaker and hundreds more on the periphery, but Bitcoin is the most well-known of the bunch, and the only one your aunt Ethel and uncle Fred know. The coin that dominates the crypto space surged past $60,000 in March 2021 and might be poised for an even bigger run ahead of the holidays.
Monday, April 7, 2025 News Update
Bitcoin dropped below the $80,000 threshold as investors prepared for further financial market turbulence following the U.S. stock market's worst slide since 2020 due to President Donald Trump's global tariffs. The price of bitcoin dropped to $78,197.07, down more than 1.5% early on Monday. That was down from a Friday high of about $85,000 and it is about 30% below its January peak. Over the weekend, agitated investors started liquidating their cryptocurrency holdings as they prepared for further losses after Trump's retaliatory tariffs heightened concerns of a worldwide recession and prompted them to liquidate risk.
As traders who had gambled on a rise in the price of bitcoin were compelled to sell their holdings in order to offset their losses, the decline also sparked off a wave of long liquidations. According to CoinGlass, long liquidations of bitcoin have totaled almost $412 million in the last day. In the same time frame, Ether had lengthy liquidations totaling $348 million.
Will Clemente, former cofounder of Reflexivity Research said recently in the media that “While I generally think we are closer to the end than the beginning of this correction for bitcoin, the window of uncertainty has only widened for markets over the last few weeks, and bitcoin is not immune when people need to sell what they can for posting margin or internal risk models,”
With the exception of a few brief dips below $80,000 during recent volatility, Bitcoin has spent the majority of this year trading above that level. It held steady last week, defying the general market catastrophe and increasing at the conclusion of the week when stocks and even gold plummeted. “Time and time again, it’s been proven that investors still view bitcoin as a risk-on beta asset, and the window of relative strength towards the back half of last week appeared to just be bitcoin lagging equities,” Clemente added in the media, “Should equities get relief, bitcoin will likely follow as well.”
Joel Kruger, market strategist at LMAX, recently stated in the media that the continuing market volatility is causing bitcoin to test the crucial $74,000 level, which represents its 2024 low, as a possible bottom. Bitcoin may yet drop as low as $68,000, according to Tracy Jin, chief operating officer of the cryptocurrency exchange MEXC, who spoke to the media.
As concerns about the global recession outweigh any legislative tailwinds that cryptocurrency was supposed to receive from this year, Bitcoin is down 15% in 2025 and is predicted to continue sliding in lockstep with stocks unless there is a crypto-specific stimulus. Since the start of the year, when the price of bitcoin reached its peak of $109,350.72, some investors have been anticipating a downturn. The possibility of a pullback was "evident" at the time, when stocks were reaching their own record highs, according to Kruger. The fact that Trump's plans "were going to create a drag on the economy and likely initiate a correction with valuations near record highs" was evident in February, according to Clemente.
However, deglobalization and escalating geopolitical conflicts should eventually be advantageous to a “decentralized, open source, neutral, scarce reserve asset like bitcoin,” Clemente said. Geoff Kendrick who is Standard Chartered head of digital assets, said to the media that bitcoin “will become a hedge against tariff risks this time around” and that “U.S. isolationism is akin to increased risks of holding fiat, which will ultimately benefit bitcoin.”
Bitcoin Weekly Price Per CoinMarketCap
| WEEK |
BITCOIN PRICE IN USD |
| April 7, 2025 |
78,197.07 |
| March 31, 2025 |
83,428.18 |
| March 24, 2025 |
88,043.32 |
| March 17, 2025 |
82,748.61 |
| March 10, 2025 |
80,483.17 |
| March 3, 2025 |
90,833.10 |
| February 24, 2025 |
94,569.34 |
| February 17, 2025 |
96,701.18 |
| February 10, 2025 |
97,403.56 |
| February 3, 2025 |
96,864.15 |
| January 27, 2025 |
101,643.23 |
| January 20, 2025 |
106,822.51 |
| January 13, 2025 |
92,117.84 |
| January 6, 2025 |
101,692.99 |
Monday, March 31, 2025 News Update
In a letter to shareholders, Larry Fink, the chairman of the largest asset management firm in the world, BlackRock, issued a warning about the skyrocketing U.S. debt and the potential threat that bitcoin poses to the U.S. dollar. “The U.S. has benefited from the dollar serving as the world’s reserve currency for decades," said Fink in his annual letter to shareholders. “But that’s not guaranteed to last forever … If the U.S. doesn’t get its debt under control, if deficits keep ballooning, America risks losing that position to digital assets like Bitcoin. I'm obviously not anti-digital assets. But two things can be true at the same time: Decentralized finance is an extraordinary innovation. It makes markets faster, cheaper, and more transparent. Yet that same innovation could undermine America's economic advantage if investors begin seeing Bitcoin as a safer bet than the dollar."
Fink's letter was sent during a period of intense market turbulence and investor apprehension regarding the nation's economic situation due to policy shifts implemented by US President Donald Trump. Investors should diversify their portfolios to include private market assets in addition to stocks and bonds in order to offset the national deficit, according to Fink. He reiterated his faith in digital assets, saying he thinks tokenized funds will become as popular with investors as exchange-traded funds (ETFs) as long as the sector can improve the infrastructure for digital identities, which he sees as a barrier to institutional investors' full adoption of decentralized finance.
“Every stock, every bond, every fund— every asset—can be tokenized. If they are, it will revolutionize investing,” Fink said in his letter. “If we're serious about building an efficient and accessible financial system, championing tokenization alone won't suffice. We must solve digital verification, too.”
BlackRock was among the issuers to introduce a spot bitcoin ETF in January 2024. The iShares Bitcoin Trust (IBIT), their product, rose to become the most successful exchange-traded fund (ETF) in the asset class's history. Half of the fund's assets, which currently total close to $50 billion, come from individual investors. In addition, the asset manager launched BUIDL, a tokenized money market fund that is expected to surpass $2 billion in assets by April, making it the biggest tokenized fund available.
In other bitcoin news, Hut 8 (HUT.O), announced on Monday that it has partnered with Eric Trump, the son of President Donald Trump, to start a bitcoin mining business named American Bitcoin. Hut 8, situated in Miami, Florida, combined most of its mining activities to acquire an 80% share in American Data Centers, a business founded by a group of investors that included Donald Trump Jr. and Eric Trump and rebranded as American Bitcoin.
The action demonstrates the Trump family's increasing influence in the cryptocurrency space as it gains broader recognition. As the "crypto president," President Trump has pledged to popularize its widespread use in the United States. Premarket trading saw a 6.4% increase in Hut 8 shares listed in the United States. As of the last close, they had dropped 42.8% so far this year.
"From the start, we've backed our conviction in Bitcoin personally and through our businesses," Donald Trump Jr. said. "But simply buying Bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity."
While establishing a strategic bitcoin reserve, American Bitcoin will primarily concentrate on bitcoin mining. Eric Trump will be the chief strategy officer and Matt Prusak will be the company's CEO. Longer term, American Bitcoin intends to go public in order to increase its funding availability. Hut 8 will concentrate more on lower-volatility energy and digital infrastructure companies as a result of the mining division being split off. American Bitcoin's sole operating and infrastructure partner will be Hut 8.
Monday, March 24, 2025 News Update
Early Monday saw a rise in the price of bitcoin and other cryptocurrencies, which was sparked by remarks made by President Donald Trump this weekend that emphasized the administration's tariff plan. Bitcoin rose from its late Friday low of about $84,000 to above $88,000 on Monday. By Monday morning, Ethereum had risen from about $1,960 on Friday night to $2,090.
Trump, meanwhile, changed his position on tariffs on Friday, stating that "there'll be flexibility" over the alleged retaliatory penalties that he is anticipated to impose on April 2. According to some sources, the Trump administration may not impose fresh, distinct sector-specific tariffs on semiconductors, pharmaceuticals, and cars, and it may also exclude certain nations from the impending reciprocal duties.
But April 2 also marks the end of Trump's current tariff freeze on a number of imports from Canada and Mexico. U.S. tariffs on foreign goods will increase significantly once more on April 2, even if Trump adopts a more moderate tariff stance. The basic case for the Trump tariffs, according to Federal Reserve Chair Jerome Powell earlier last week, is that they will have a "transitory" effect and increase inflation this year but not over time. Powell also planned to lower interest rates by half a percentage point later this year.
A five-week run of outflows was broken last week by the first inflows into digital asset investment products. According to CoinShares data, $644 million was invested in digital assets last week. Following $5.4 billion in outflows over the previous five weeks, Bitcoin led the reversal with $724 million in inflows. However, not every cryptocurrency profited. Over the course of the week, $86 million was taken out of Ethereum. $7.1 million was taken out of short-bitcoin investment instruments for the third week in a row.
Inflows to Solana totaled $6.4 million throughout the week. With $464 million in inflows last week, the iShares ETFs lead the group; but this month has already seen $131 million in outflows. Inflows into the Fidelity bitcoin ETF totaled $136 million, bringing monthly outflows to $372 million. Through March 21, we had outflows of $1.08 billion in total digital assets.
Early Monday saw a 5% increase in the iShares Bitcoin Trust ETF (IBIT) and other spot bitcoin ETFs. Up until Friday, the ETFs' shares had dropped around 10% in 2025. Early Monday saw a 5.2% increase in Coinbase's (COIN) stock as cryptocurrency prices rose. As of Friday's close, COIN stock has lost 23.5% of its value this year. Monday saw a 7% increase in Strategy (MSTR), formerly known as MicroStrategy.
Michael Saylor of Strategy said on Monday that the company had paid around $584 million, or $84,529 per bitcoin, for an additional 6,911 bitcoins. With an average purchase price of $66,608 per bitcoin as of Sunday, Strategy currently owns 506,137 bitcoin. The business used the money it collected via its regular stock sale programs, also referred to as ATMs (at-the-market offers), which included both its new preferred shares (STRK) and common stock (MSTR).
MicroStrategy raised $592.6 million after fees from the sale of 1,975,000 shares of MSTR between March 17 and March 23. In order to raise an additional $1.1 million, it simultaneously sold 13,100 shares of STRK, its 8% Series A Perpetual Preferred Stock. "Approximately $3.57 billion of MSTR Shares" and "$20.99 billion of STRK Shares" are still offered for sale through the corresponding ATM programs, per the company's 8-K filing.
Monday, March 17, 2025 News Update
According to Reuters, which cited anonymous sources, Russian oil businesses are converting rubles into Chinese yuan and Indian rupees with the aid of bitcoin and other cryptocurrencies like ethereum and the stablecoin tether. According to the article, even if sanctions were repealed and the U.S. dollar was once again accepted, Russian oil businesses would still prefer to trade using Bitcoin and cryptocurrency.
As early as 2022, Russian millionaires and oligarchs who were severely restricted in their ability to make money after the country's invasion of Ukraine reportedly turned to cryptocurrency and bitcoin. A "limited circle of Russian investors" will be able to purchase and sell bitcoin and other cryptocurrencies, the Bank of Russia said this week.
“In accordance with the instructions of the president of Russia, the Bank of Russia has sent proposals to the government for discussion on regulating investments in cryptocurrencies,” a translated announcement read. "This is a new status that ... citizens will receive if their investments in securities and deposits exceed 100 million rubles or if their income over the past year was more than 50 million rubles.”
Russia and the United States have contributed to the current spike in the price of bitcoin. The Russian central bank has progressively loosened its stance on bitcoin and cryptocurrency, supporting a measure last year that permitted companies to use them for cross-border transactions. As Donald Trump's government prepares to turn bitcoin into a strategic reserve asset, halting the planned sale of bitcoin and cryptocurrency that the United States has confiscated, Russia is showing increasing support for these digital currencies.
It was reported in the media that one of Donald Trump's top bitcoin and cryptocurrency officials stated that the Trump administration wants to buy as much bitcoin as possible. This helped to reverse a sell-off in the price of bitcoin that was brought on by Trump's plans for a bitcoin reserve not meeting expectations.
According to a December report, Russian MPs were urging the establishment of a bitcoin strategic reserve akin to Trump's plan. Prior to the Western countries seizing its funds after its invasion of Ukraine, Russian President Vladimir Putin had hailed bitcoin as a substitute for foreign currency reserves.
Another country, South Korea, is taking a more cautious approach to Bitcoin. According to a Korea Economic Daily article, the Bank of Korea (BOK), the country's central bank, has adopted a cautious approach to adding bitcoin to its foreign exchange reserves.
The BOK clarified on Sunday that it has not considered adopting Bitcoin in answer to a query from a member of the National Assembly's Strategy and Finance Committee. Bitcoin's well-known price volatility serves as the main deterrent for the BOK. The central bank is concerned that the erratic fluctuations in the cryptocurrency market may significantly increase the cost of transactions when converting bitcoin to cash, so endangering its reserves.
The BOK further noted that bitcoin does not adhere to the foreign exchange reserve management guidelines set forth by the International Monetary Fund (IMF). Because of its volatility, bitcoin does not meet the IMF's emphasis on the need for careful management of liquidity, market, and credit risks.
With local startups, tokens, exchanges, and businesses generating billions of dollars in daily trade volumes inside a somewhat isolated crypto market, South Korea boasts a thriving crypto ecosystem.
Monday, March 10, 2025 News Update
Bitcoin has been getting crushed over the past week, dropping more than 10% in value. One of the companies that has suffered the most because of the drop in Bitcoin price is Strategy, Michael Saylor’s company that has purchased billions in Bitcoin. The news is not all bad for Strategy, as they are still up $7.8 billion in profit on its Bitcoin holdings.
With more value lost in the last seven days than at any previous point in its trading history, Bitcoin saw its biggest weekly loss ever. According to data from Cointelegraph Markets Pro, the price of Bitcoin dropped 13.6% in a single week, from $93,379 on March 3 to a low of $80,483 on March 10.
Michael Saylor's Strategy continued to outperform its Bitcoin acquisitions in spite of the market decline. Purchased at an average price of $66,423 per token, the corporation possessed 499,096 Bitcoin. Despite the drop, Strategy has spent $33.1 billion on Bitcoin acquisitions, and its holdings are currently worth $41.2 billion, a 24% unrealized gain.
The significance of the dollar-cost averaging strategy in investing is demonstrated by Strategy's Bitcoin investments. The business divided its Bitcoin purchases over time rather than making a single purchase, and it kept buying tokens regardless of price fluctuations.
Other businesses that just joined the Bitcoin market have not fared as well. Semler Scientific, a software and healthcare technology company that began holding Bitcoin on May 28, has seen a 6.25% decrease in its purchases, according to Bitcoin holdings tracker BitcoinTreasuries.NET. The business has 3,192 Bitcoin, which it purchased for an average of $87,850. This indicates that the Bitcoin that was bought for more than $280 million is now only worth about $262 million.
Known as "Asia's Strategy," Metaplanet has a little decrease in its Bitcoin holdings. Following Strategy's lead, the company began to include Bitcoin on its financial sheet in April 2023. 2,888 were purchased at an average price of $83,049 and are held by Metaplanet. Its Bitcoin assets have dropped by more than $2 million, or almost 1%.
In other developments, as the Markets in Crypto-Assets regulation goes into effect throughout the European Union, Spain's financial regulator has approved the Spanish banking behemoth Banco Bilbao Vizcaya Argentaria (BBVA) to allow its customers to trade bitcoin and ether. With this permission, BBVA has completed a multi-year procedure to give its clients access to digital assets. According to a Reuters story, the Spanish banking behemoth Banco Bilbao Vizcaya Argentaria (BBVA) has received permission from the nation's financial regulator to allow its customers to trade bitcoin (BTC) and ether (ETH).
Because Switzerland already had a defined legal framework for digital assets under the Financial Market Supervisory Authority (FINMA), BBVA originally intended to start its crypto services from Switzerland rather than Spain or other EU nations. Through a local affiliate, BBVA began cryptocurrency trading in Turkey in January.
Société Générale's SG-FORGE is introducing a euro stablecoin on the XRP Ledger, and Deutsche Bank of Germany is creating an Ethereum rollup with ZKsync and providing custody with Taurus. As a result, BBVA is not the first European bank to get involved in the cryptocurrency space.
Monday, March 3, 2025 News Update
It was a down month in February for cryptocurrencies but March has brought optimism, as U.S. President Donald Trump said that the United States will create a crypto reserve. He said on Sunday in a Truth Social post that the United States reserve would include Bitcoin, Ether, XRP, Solana and Cardano. Trump has already signed an executive order to create a crypto reserve and now the coins expected to be in the reserve have been identified. Some companies that deal in Bitcoin regularly soared on the news, including Strategy (MSTR), the largest corporate holder of Bitcoin. The company, formerly known as MicroStrategy, jumped 12% on the news, while Riot Platforms and MARA Holdings, went up 7% and 9%, respectively, while Coinbase went up over 3%.
“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” Trump wrote in the Truth Social post. “I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!” Trump said in another post that he loves Bitcoin and Ether. “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!”
Bitcoin went up to more than $92,000 before falling back to just over $90,000 on Monday morning. It was a welcome rise because February was the worst month for Bitcoin since June of 2022, as Bitcoin dropped nearly 17% in February. Trump's announcement on Sunday sent cryptocurrencies soaring, as it was a $300 billion global crypto rally that continued into Monday.
“What was expected to be a ‘Bitcoin national stockpile’, has turned out to be a ‘Crypto strategic reserve’ covering multiple digital assets,” Bernstein analysts said on Monday morning in a note. “(The) Crypto community was surprised to see digital assets beyond Bitcoin in the U.S crypto reserve.” The crypto national reserve idea was proposed by United States Senator Cynthia Lummis who is a Republican from Wyoming. She said in a 2024 bill that the U.S. should establish a Strategic Bitcoin Reserve and her idea has taken hold. The question is whether or not the reserve can be created simply by an executive order or whether it needs congressional approval. “It is not clear, if the strategic reserve can be created merely by President’s executive order," Bernstein analysts said in a note. "If the Fed balance sheet is involved, it would require a specific bill to be passed by the Congress. It is also unlikely, the government can pull off the reserve under the Treasury, without involving the Fed balance sheet.”
There is no question that Trump has been more crypto-friendly than Joe Biden was and markets have taken notice. As Trump seeks to undo the restrictions imposed under the Biden administration, the SEC last week canceled its investigations into Coinbase (COIN), Robinhood (HOOD), and other cryptocurrency companies. In addition to Bitcoin, other cryptocurrencies saw a surge on Monday. Ether surged to above $2,300, up 4.6%. XRP increased about 18% to a still-low level of approximately $2.60, while Solana increased 13% to about $160. Cardano increased by around 50% to about $1.
History
In January 2009, Bitcoin was created by Satoshi Nakamoto. The identity of Nakamoto remains hotly debated to this day, but that person or group changed the world with this invention. Like many major breakthroughs, it took a while for people to grasp why Bitcoin was special. Bitcoin was created in the midst of the banking crisis, and one of its major goals was to give people another option to buy and sell products outside of a heavily regulated and centralized banking system.
The first entities to fully embrace Bitcoin were black market enterprises like Silk Road. For a while, Bitcoin became synonymous with the notorious website, but its use became more and more widespread starting in 2013.
That led to the price of Bitcoin skyrocketing and reaching incredible heights in 2017. On January 1, 2017 a single Bitcoin was worth $998, but that price rose by nearly 20-fold near the end of the year, hitting an all-time high of $19,666 on December 17, 2017. Bitcoin has left those prices in the dust in 2021, as the price of Bitcoin is approaching $50,000.
Stability
One of the major criticisms of Bitcoin is that the currency wildly fluctuates and that has proven to be true in 2021. As Bitcoin has become more accepted and understood, investors are getting a better understanding of what leads to price changes, and that has led to the Bitcoin market looking a lot like the stock market.
Security
There have been fears over how secure Bitcoin is over the years, but transactions are even more secure as they are in the traditional marketplace thanks to blockchain technology.
Whereas we are constantly hearing stories of companies having their databases hacked and identities being stolen, the nature of blockchain presents this from happening with Bitcoin.
For a transaction to occur, the sender must know their private key and digitally sign the transaction, and the signature must be verified by the network using the public key. The number of private keys makes it nearly impossible to hack into another person’s account, but there is one thing to keep in mind. You MUST keep your private key backed up somewhere or else you will lose access to your Bitcoin. Don’t make the mistake of not backing up your private key and risk losing your hard earned money.
How do I buy Bitcoin?
You can buy Bitcoin by using one of the major currency exchanges such as Coinbase or Gemini. These exchanges allow you to use a credit or debit card or bank transfer to buy Bitcoin. You can then send Bitcoin to your sportsbook account and you can withdraw Bitcoin from your sportsbook account to your digital wallet.
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