Cryptocurrency Bitcoin Soars to £100,000 siguing Trump's Announcement of UK Trade Agreement
Bitcoin Transcends £100,000 Following Trump's Trade Announcement and New Investment Firm
A sudden spike in Bitcoin's value propelled the cryptocurrency past the £100,000 mark today, fueled by an announcement by former U.S President Donald Trump regarding a new trade agreement with the United Kingdom. This surge marked the highest price for Bitcoin since February, briefly peaking at approximately £100,800.
The market reacted favorably to the geopolitical cooperation signified by the announcement, despite limited details about the trade deal. Furthermore, other major cryptocurrencies followed suit, with Ethereum rising by nearly 13%, breaking the £2,000 threshold, and Cardano climbing approximately 9%.
The recent surge in Bitcoin can be traced back to a newly launched investment firm named Nakamoto, founded by David Bailey, CEO of BTC Inc. and a crypto adviser to Trump. The newly public company has already raised an impressive £300 million in equity and convertible debt combined, aiming to invest its Bitcoin holdings in global businesses. It is expected to list on NASDAQ through a SPAC merger by summer, joining prominent players like Strategy and Jack Malers' separate venture, 21, in the cryptocurrency investment sphere.
Meanwhile, a Florida court has dismissed legal claims against celebrities including Tom Brady, Kevin O'Leary, Steph Curry, and other online influencers in connection to the defunct crypto exchange FTX. The judge ruled that there was insufficient evidence to prove that these individuals were aware of FTX's alleged wrongdoing.
Coinbase, one of the world's leading cryptocurrency exchanges, announced its acquisition of Dubai-based crypto options exchange Darabit in a £2.3 billion deal. This transaction includes £560 million in cash and 11 million Coinbase shares, allowing the exchange to expand its trading capabilities into futures, perpetuals, and options trading by year-end. Darabit has recorded over £770 billion in annual trading volume.
Finally, crypto technology company Superstate introduced a new initiative called "Opening Bell." This platform enables companies to issue and trade SEC-registered shares directly on blockchain networks, beginning with Solana. Key benefits of this system include real-time settlement, 24/7 global trading, direct ownership without intermediaries, and reduced transaction costs. Institutional investors are showing interest due to its compatibility with their current workflows, especially for managing liquid assets like Treasury Bills. The company has submitted its framework to the U.S. Securities and Exchange Commission and anticipates regulatory clearance by summer.
These developments underscore the growing integration of blockchain and digital assets into traditional finance, providing new opportunities for investors and reshaping capital markets. As technology continues to blur the lines between decentralized and traditional markets, retail and institutional investors alike may find a wealth of potential emerging across the financial landscape.
- The newly launched investment firm, Nakamoto, founded by David Bailey, has announced its aim to use Bitcoin holdings to invest in global businesses, hoping to list on NASDAQ by summer.
- Amidst the Bitcoin surge, Ethereum rose by nearly 13%, breaking the £2,000 threshold, while Cardano climbed approximately 9%.
- Other crypto platforms are also making moves, with Coinbase announcing its £2.3 billion acquisition of Darabit, a Dubai-based crypto options exchange, to expand its trading capabilities.
- In a significant development, a Florida court has dismissed legal claims against celebrities connected to the defunct crypto exchange FTX, ruling that there was insufficient evidence of their awareness of any alleged wrongdoing.
- Superstate, a crypto technology company, has introduced a new platform called "Opening Bell" that allows companies to issue and trade SEC-registered shares directly on blockchain networks, with Solana being the first to participate. This initiative promises benefits such as real-time settlement, global trading, direct ownership, and reduced costs, garnering interest from institutional investors for its compatibility with their current workflows.
