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Bitcoin Surges: $41M Withdrawal, $85M Sale, $1.1B Purchase

Coin WorldTuesday, Jan 28, 2025 3:39 am ET

1min read

Bitcoin News Roundup

Bitcoin (BTC) has been in the spotlight recently, with several significant developments and analyses shaping the market's perception of the world's leading cryptocurrency. Here's a summary of the key events and insights:

Large Bitcoin Withdrawal

A newly created wallet withdrew 400 BTC (worth approximately $41.2 million) from Binance two hours ago, according to LookIntoChain monitoring. This transaction highlights the ongoing activity and liquidity in the Bitcoin market.

Bitfarms to Sell Paraguay Bitcoin Mining Site to HIVE

Bitfarms (BITF) has agreed to sell its 200 MW site in Yguazu, Paraguay, to HIVE Digital Technologies (HIVE) for approximately $85 million. This transaction underscores the growing interest in Bitcoin mining infrastructure and the potential for consolidation in the industry.

MicroStrategy Purchases Another $1.1 Billion in Bitcoin

Software company MicroStrategy has expanded its Bitcoin reserves by acquiring an additional 10,107 BTC ahead of its Monday decline. The company's latest purchase marks its 12th consecutive week of BTC buys, further cementing its status as a major corporate investor in Bitcoin.

Mad Money Host Jim Cramer Advises Buying Bitcoin, but Avoids MicroStrategy

Jim Cramer, the host of CNBC's Mad Money, recently advised investors to own Bitcoin (BTC) instead of its largest public holder, MicroStrategy. While Cramer praised Bitcoin as a great asset for one's portfolio, he did not provide specific reasons for dismissing MicroStrategy.

Bitcoin's Volatility Trends and Institutional Investment

According to Matrixport's latest chart report, Bitcoin's 30-day realized volatility has maintained an average of 58% over the last five years. The report highlights that during periods of significant market movements, both bullish and bearish, volatility often surpasses this average. The advent of a Bitcoin spot ETF tailored for Wall Street investors has influenced the mitigation of Bitcoin's volatility, presenting an opportunity for institutional investors to embrace greater risk.

Bitcoin: The Sole Cryptocurrency Fit for

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