logo logo

The next-generation financial news, and trading signals for you to start driving your FOMO today!


FREE trading signals

Get free daily crypto signals to make profitable trades every day!

View fresh signals


Peter Davis

An writer at FOMOdrive

  • Nov 21, 2023
  • 3 min read

Bitcoin will exceed $150,000 by mid-2025 - Bernstein

The Binance exchange is being demanded to pay more than $4 billion by the US Department of Justice.

Russian banks have been given data from debtor clients by crypto exchanges.

For the fourth consecutive week, investments in crypto funds have seen a significant increase.

It is estimated that the Bitcoin ETF market could draw in as much as $100 billion.

70% of bitcoins have remained untouched for the past year, setting a new record.

CoinShares reported that investments in crypto funds rose by $176 million last week, marking the fourth consecutive week of significant inflows. This brings the total for the eighth week to $155 million in Bitcoin, $3 million in Ethereum, and $14 million in Solana. Meanwhile, investments in funds that allow shorting Bitcoin decreased by $8.5 million.

CoinShares reports that Bitcoin has continued to dominate, with 3.4% of total assets under management (AuM) being invested in it over the past 8 weeks. Despite this, the total inflow into digital assets since the start of 2021 is only $1.32 billion, which is much lower than the figures for 2021 and 2020 ($10.7 billion and $6.6 billion, respectively).

Over the past year, a record 70% of the available Bitcoin supply has not been transferred from one wallet to another. This makes BTC look increasingly attractive from a fundamental perspective, and Bernstein analysts predict that its market capitalization could reach $3 trillion by mid-2025, with Bitcoin prices exceeding $150,000.

Bloomberg Intelligence estimates that up to $100 billion could be drawn into the Bitcoin ETF market from large investment funds such as BlackRock, Fidelity, and Invesco. This is due to the hundreds of requests from clients who are eager to invest in digital assets.

Dan Berkowitz, who was formerly the SEC counsel and a CFTC Commissioner, believes that the existing laws for commodities and securities are adaptable enough to include new technologies such as cryptocurrencies and blockchain. He does, however, think that some modifications need to be made to these laws.

Santander, a Spanish bank, has given 210,000 of its affluent customers in Switzerland the chance to buy, sell, and store Bitcoin and Ethereum. In the coming months, the range of services available will be broadened.

Mastercard has agreed to collaborate with regtech platform Feedzai to incorporate its tools into CipherTrace Armade, a bank-focused system that monitors transactions with 6,000 crypto platforms to carry out Anti-Money Laundering (AML) and fight scams.

Javier Miley, a staunch Bitcoin advocate, was elected President of Argentina. He had previously been a libertarian deputy and declared his intention to "destroy" the Central Bank and replace the peso with the US dollar in order to combat inflation. As a result, the pairing of Bitcoin and the Argentine peso skyrocketed to an all-time high.

The US Department of Justice is reportedly demanding more than $4 billion from the Binance exchange to settle an inquiry into claims of money laundering, bank fraud and sanctions violations, as reported by Bloomberg.

Evgeny Akimov, head of the enforcement and bankruptcy department of Sberbank, stated that Bybit, Bitstamp, Bitrue, Gate.io, OKX and other exchanges have started to supply Russian banks with customer data when looking for digital assets of debtors.

Share this article