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Bitcoin is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

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Coinbase Global Inc (NASDAQ:COIN) has successfully expanded into the Canadian market, growing to around 200 employees and introducing Interac payments, which now account for over 80% of inflows. The company has worked closely with Canadian regulators to ensure a robust regulatory framework. Coinbase Canada's Country Director, Lucas Matheson, sees the approval of ETFs as institutional validation and believes it will increase demand and awareness. Coinbase is also investing in self-custody wallets and Layer Two solutions, aiming to update the financial system and address issues in industries like real estate through blockchain technology. Matheson is optimistic about the future, citing regulatory momentum and the potential for Canada to lead in the digital economy.

Portfolio Pulse from Stjepan Kalinic

December 31, 2023 | 6:57 pm

Bitcoin has seen a significant surge in 2023, reaching $44,000 with a 150% increase in value. High-profile individuals and Bitcoin enthusiasts, forming the 'million dollar club,' predict Bitcoin could hit $1 million. Ark Invest CEO Cathie Wood sees potential for Bitcoin to reach this milestone by 2030. Robert Kiyosaki and Balaji Srinivasan also made similar predictions, with Srinivasan losing a bet on Bitcoin hitting $1 million by June 17. Samson Mow linked Bitcoin reaching $1 million to the approval of a spot BTC ETF. Michael Saylor of MicroStrategy and Matrixport expect significant increases in Bitcoin's value, while Gracy Chen of Bitget remains skeptical of the $1 million target but considers $100,000 feasible.

Portfolio Pulse from Mehab Qureshi

December 30, 2023 | 8:15 pm

Influencers are expressing optimism for the cryptocurrency market in 2024, with expectations of significant developments such as the launch of Shibarium, a Bitcoin ETF, and growth in altcoins. Social media personalities with large followings are predicting that 2024 will be a pivotal year for crypto, with potential for high returns and market expansion. The global crypto market cap is $1.65 trillion, with Bitcoin and Ethereum seeing substantial gains year-to-date. The decision on the spot Bitcoin ETF approval is anticipated between Jan. 5 and Jan. 10, 2024, with firms like BlackRock, Fidelity, and WisdomTree involved.

Portfolio Pulse from Khyathi Dalal

December 30, 2023 | 2:02 pm

ARK Next Generation Internet ETF (ARKW) sold its entire stake in Grayscale Bitcoin Trust (GBTC) and bought shares in ProShares Bitcoin Strategy ETF and ARK 21Shares Active Bitcoin Futures Strategy ETF. ARKW also sold shares of Coinbase Global Inc. (COIN) and purchased shares of Block Inc (SQ). These moves are in anticipation of the SEC's decision on Bitcoin ETFs, with Cathie Wood citing caution due to uncertain approval of Grayscale's conversion to an ETF.

Portfolio Pulse from Rounak Jain

December 30, 2023 | 6:39 am

BlackRock (BLK), Fidelity (FIS), and WisdomTree (WT) have named Jane Street Capital and JPMorgan Securities (JPM) as authorized participants for their upcoming Bitcoin ETFs, pending SEC approval. Jane Street is also selected by Valkyrie for a similar role. The SEC had set a deadline of Dec. 29 for final amendments, with early January as the potential approval window for Bitcoin ETFs. Invesco is also in the race, offering to waive fees for its Bitcoin ETF.

Portfolio Pulse from Benzinga Neuro

December 30, 2023 | 2:43 am

The U.S. stock market ended the year on a high note, with major indices reaching record levels, driven by the AI revolution and a dovish pivot by the Federal Reserve. The Nasdaq 100 had its best year since 1999, while the SPY ETF is close to hitting $500 billion in assets. AI interest has surpassed Bitcoin, and The New York Times is suing OpenAI and Microsoft over copyright issues. Ed Yardeni predicts a bullish S&P 500 for 2024, and Apple is shifting focus to wearables. Elon Musk has shown support for a $25K Tesla compact car.

Portfolio Pulse from Piero Cingari

December 29, 2023 | 9:01 pm

Valkyrie has filed an amended S-1 form for its Bitcoin Fund, with Stonex Financial set to be the lead market maker. Stonex will also facilitate the creation of the initial basket of shares for the fund, which will trade under the symbol 'BRRR'.

Portfolio Pulse from Charles Gross

December 29, 2023 | 8:39 pm

Coinbase Global, Inc. (NASDAQ:COIN) shares are trading lower by 7.7% despite a 35% increase over the past month and a 375% year-to-date gain. The decline may be related to Ark Invest selling 148,885 shares of COIN through its ARK Next Generation Internet ETF (NYSE:ARKW). Analysts from JMP Securities and Mizuho have updated their price targets on COIN, with JMP Securities raising their target from $107 to $200 and maintaining a Market Outperform rating, while Mizuho raised their target from $35 to $54 but maintained an Underperform rating.

Portfolio Pulse from Erica Kollmann

December 29, 2023 | 6:58 pm

VanEck Bitcoin Trust has filed an amended S-1 document with the SEC, indicating its ongoing efforts to launch a Bitcoin-related investment product. The filing is a step towards offering a regulated investment vehicle that would provide exposure to Bitcoin for institutional and retail investors.

Portfolio Pulse from Bill Haddad

December 29, 2023 | 5:34 pm

Shares of Bitcoin mining companies Marathon Digital Holdings, Inc. (MARA) and Riot Platforms, Inc. (RIOT) are trading lower despite recent positive developments. Marathon Digital's stock surged over the past month due to the purchase of new mining sites and anticipation of a spot Bitcoin ETF and the Bitcoin halving event. Riot Platforms reported a 21% increase in Bitcoin mined in November. The decline in stock prices may be attributed to profit-taking on the last trading day of 2023.

Portfolio Pulse from Erica Kollmann

December 29, 2023 | 5:23 pm

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