Daily Report | Microsoft opposes Bitcoin investment proposal; Ripple's stablecoin RLUSD approved by New York Department of Financial Services; MicroStrategy may join the Nasdaq 100 index
December 11 News OverviewOrganizer: Fairy, ChainCatcher
Important News:
- Microsoft shareholders vote against Bitcoin investment proposal
- Ripple CEO: Stablecoin RLUSD has been approved by the New York Department of Financial Services
- OKX launches SOL liquid staking token OKSOL
- MicroStrategy expects to officially join the Nasdaq 100 Index on December 23
- Microsoft CFO: Microsoft has accepted cryptocurrency as customer payment and has been thinking about the development of cryptocurrency
- Beam Foundation announces plans to launch Beam Ventures in Abu Dhabi with a scale of $150 million
"What important events happened in the past 24 hours"
Beam Foundation announces plans to launch Beam Ventures in Abu Dhabi with a scale of $150 million
The Beam Foundation announced plans to launch Beam Ventures in Abu Dhabi. This is the first venture capital fund in the Abu Dhabi International Financial Center focused on the gaming sector, with a scale of $150 million.
Beam Ventures is strategically positioned at the intersection of blockchain, gaming, and artificial intelligence. Beam Ventures is committed to promoting innovation in these areas, aiming to redefine the gaming experience and drive industry growth.
Sinopec: Beware of scams selling fuel cards at low prices using virtual currency, do not be deceived
According to a disclosure from Sinopec's official account, Mr. Qiu, a truck driver in Suzhou, Jiangsu, saw an advertisement on a short video platform selling fuel cards at low prices: "A fuel card worth 1000 yuan is only 880 yuan." The other party stated that the transaction must be made using the virtual currency USDT (Tether), and after transferring USDT to the "trading platform" as instructed, it was transferred to the other party's digital account. After the first transaction was successful, Mr. Qiu thought he had found a bargain. He then transferred a total of over 70,000 yuan in digital currency to the other party multiple times, but when he intended to continue purchasing, he found that the digital currency in his account had disappeared, and he had been blocked on WeChat.
Sinopec reminds consumers not to be tempted by cheap fuel cards from unofficial channels and to be wary of discount fuel card offers.
Zhao Changpeng on "buy low and sell high": does not recommend this method, only succeeded once in buying Bitcoin during the 2014 bear market
Zhao Changpeng commented on Lady of Crypto's view about "making a lot of money by buying at lows and selling at highs during a bull market," stating that his own experience was buying Bitcoin at the beginning of a long bear market (2014), but due to not having extra fiat currency to buy at lows and the prolonged bear market, there were no profits to be made, yet he ultimately succeeded and does not recommend this method. Zhao stated, "In other words, I only made one purchase."
Microsoft CFO: Microsoft has accepted cryptocurrency as customer payment and has been thinking about the development of cryptocurrency
Microsoft shareholders have voted against the Bitcoin investment proposal, however, Microsoft CFO Amy Hood stated during Tuesday's shareholder meeting that Microsoft has accepted cryptocurrency as customer payment since 2014, adding, "We have been thinking about the development of cryptocurrency." So far this year, Microsoft's stock has risen about 19%, significantly underperforming MicroStrategy.
Previously, voting results showed that Microsoft's major shareholders opposed the company's Bitcoin investment proposal.
OKX to launch SOL liquid staking token OKSOL
According to an official announcement, OKX will launch the SOL liquid staking token OKSOL on December 11, 2024, and will open OKSOL/SOL and OKSOL/USDT spot trading pairs, supporting OKSOL as a collateral asset.
It is reported that OKSOL is a liquid staking certificate developed by OKX for Solana, representing the SOL staked by users on the platform. By staking SOL, users receive OKSOL at a 1:1 ratio. Holding OKSOL allows users to enjoy native staking rewards and MEV rewards while maintaining asset liquidity. OKSOL can be used for collateral or trading, while the on-chain SOL remains staked. This provides a flexible solution for users who wish to participate in staking without losing liquidity.
Bridgewater founder: advises investors to stay away from bonds and other debt assets, turn to gold and Bitcoin as "hard currencies"
According to the South China Morning Post, Ray Dalio, founder of the world's largest hedge fund Bridgewater, stated at a financial conference in Abu Dhabi that he advises investors to stay away from bonds and other debt assets and turn to gold and Bitcoin as "hard currencies."
Dalio pointed out that the debt levels of major economies, except for Germany, have reached "unprecedented" levels, and a debt crisis is inevitable in the coming years, which will lead to a significant devaluation of currency value. He emphasized that debt, currency, and the economy are among the five key forces influencing future development, along with domestic political order and geopolitical patterns.
MicroStrategy expects to officially join the Nasdaq 100 Index on December 23
According to Crypto Briefing, MicroStrategy expects to officially join the Nasdaq 100 Index on December 23, with an official announcement expected on December 13.
Bloomberg ETF analyst James Seyffart expects that ETFs tracking the Nasdaq 100 Index will purchase approximately $2.1 billion worth of MicroStrategy stock, accounting for about 20% of the company's daily trading volume. The company is expected to become the 40th largest component of the index, with a weight of 0.47%.
Bitcoin mining company BTC Digital announces completion of $20 million financing
According to a press release, publicly listed Bitcoin mining company BTC Digital (NASDAQ: BTCT) announced that its underwritten public offering has successfully raised $20 million. The funds will be used for infrastructure and energy expansion, computing power expansion, and research and development of innovative mining machines.
The company plans to build and expand multiple mining sites in North America, focusing on improving the efficiency of existing facilities. By utilizing green energy, it aims to reduce carbon emissions. The company expects its self-mining operations to reach a scale of 20 megawatts by mid-2025, providing stable support for self-mining and hosting services.
Shareholder rights organization FEP: sought a private one-hour meeting between Microsoft CEO and Michael Saylor but was refused
According to Bloomberg, MicroStrategy co-founder Michael Saylor proposed incorporating Bitcoin into the balance sheet at Microsoft's virtual shareholder meeting, but the proposal was voted down by shareholders. The proposal requested the board to assess whether incorporating Bitcoin into the balance sheet aligns with the long-term interests of shareholders. Saylor spoke on behalf of the shareholder rights organization FEP (Free Enterprise Project), predicting that Bitcoin's market value will increase from $2 trillion to over $200 trillion in 21 years, emphasizing that Bitcoin has outperformed Microsoft's stock price by 10 times.
Notably, FEP Deputy Director Ethan Peck revealed that if Microsoft CEO Nadella agreed to a one-hour private meeting with Saylor, FEP would be willing to withdraw the proposal, but it was refused. Cornell University trade policy professor Eswar Prasad stated that given the positive outlook for the cryptocurrency industry under the Trump administration, it is reasonable for the company to invest a small portion of its reserves in cryptocurrency. Currently, FEP has submitted a similar proposal to Amazon and may expand to other companies in the future.
Microsoft shareholders vote against Bitcoin investment proposal
According to voting results, Microsoft's major shareholders voted against the company's Bitcoin investment proposal on Tuesday.
Earlier, Microsoft's board urged shareholders to reject a recommendation from the National Center for Public Policy Research, which suggested that the company invest 1% of its total assets in Bitcoin to hedge against inflation.
At the annual meeting, MicroStrategy founder Michael Saylor gave a three-minute speech attempting to persuade Microsoft shareholders to support the proposal. Data shows that Microsoft's largest shareholders are institutional investors, including Vanguard and BlackRock.
Ripple CEO: Stablecoin RLUSD has been approved by the New York Department of Financial Services
Ripple CEO Brad Garlinghouse announced on the X platform that the stablecoin RLUSD has been approved by the New York Department of Financial Services (NYDFS), and a list of exchanges and partners will be launched soon.
"What are the exciting articles worth reading in the past 24 hours"
Microsoft shareholders reject Bitcoin, is the "crypto booster" sustainable?
As the U.S. makes significant progress in the compliance of Bitcoin investments, more and more companies are starting to show interest in crypto assets. With the successful experience of MicroStrategy, the National Center for Public Policy Research (NCPPR) formally recommended that Microsoft invest 1% of its profits in Bitcoin to hedge against inflation.
On December 10, Microsoft's major shareholders voted against incorporating Bitcoin into the company's balance sheet. Market sentiment has also been somewhat impacted, with Bitcoin trading at $97,304 at the time of writing, a pullback from recent highs. Is the "crypto booster" favored by all U.S. stock investors? And why did shareholders reject strategic investment in emerging assets?
Spot auction prices hit new highs, could Hyperliquid become a new choice for listing?
Listing fees have always been a contentious issue in the market, especially as hefty listing fees are often seen as a significant barrier to market innovation. As a result, more and more emerging projects are choosing to launch on DEX (decentralized exchanges) as their debut platform, but at the same time, the risk of rug pulls has also significantly increased.
Recently, the derivatives DEX Hyperliquid not only performed well after a textbook-style airdrop, but its spot listing auction prices also hit new highs, further enhancing the platform's market advantage. Under strong data, according to PANews, many projects have already set their sights on listing on Hyperliquid.
Bitwise's top ten cryptocurrency predictions for 2025
2024 is set to be a milestone year for the cryptocurrency market. Bitcoin soared to an all-time high of $103,992 (as of the time of writing, up 141.72% year-to-date), largely due to the record issuance of the U.S. spot Bitcoin ETF, which attracted $33.56 billion in assets. Other major crypto assets also saw significant increases: Solana up 127.71%, XRP up 285.23%, and Ethereum up 75.77%. Meanwhile, cryptocurrency-related stocks like MicroStrategy and Coinbase surged by 525.39% and 97.57%, respectively.
Record prices are not the only noteworthy development. Cryptocurrencies have clearly gained an advantage in the 2024 U.S. elections, making the regulatory outlook for cryptocurrencies in the U.S. more promising. Elected President Trump supports cryptocurrencies during his campaign, promising to establish a Bitcoin strategic reserve and restructure the SEC (which has historically been hostile to cryptocurrencies). He also nominated Scott Bessent as Treasury Secretary, who has stated that "cryptocurrencies represent freedom, and the crypto economy will exist long-term." As we enter 2024, Congress also appears to lean towards supporting cryptocurrencies, with pro-crypto candidates defeating opponents in several key elections. Legislative support for cryptocurrencies is expected in the coming months.
With global stimulus policies from China and other major central banks, increasing institutional adoption, and rapid improvements in blockchain technology, the outlook for 2025 looks quite bright.
