BITCOIN

The head of enforcement at South Africa’s financial industry watchdog said on Jan. 24 that he expects the organization to decide the fate of 50 crypto firms’ license applicants in the coming weeks. The watchdog stated that from the more than 100 entities that applied for a license, 20 have since withdrawn from their respective applications. The Cost of Obtaining a License An official with the Financial Sector Conduct Authority (FSCA), South Africa’s financial industry watchdog, announced on Jan.24 that the organization expects to determine the fate of some 50 crypto firms’ license applications in the coming weeks. Gerhard van Deventer, the head of enforcement at the FSCA, revealed that out of the 90-plus applicants, 20 have since withdrawn. As reported by Bitcoin.com News in late 2023, the South African watchdog had received a total of 93 applicants just days before the Nov. 30 deadline. This figure, which ultimately rose to 105, consisted of both current holders of FSP licenses a...

Former Bitmex CEO Arthur Hayes has predicted that bitcoin will find a support level between $30,000 and $35,000. He contends that the ongoing bitcoin selloff is not due to outflows from Grayscale’s bitcoin trust (GBTC). “That argument is bogus,” he claimed, adding that bitcoin’s price movement is “anticipating the Bank Term Funding Program (BTFP) will not be renewed.” Ex-Bitmex Chief’s Bitcoin Price Prediction Arthur Hayes, co-founder and former CEO of crypto exchange Bitmex, has shared his bitcoin price prediction, explaining that he believes the cryptocurrency will form support between $30,000 and $35,000. In a blog post published Tuesday, Hayes detailed: I think bitcoin will find a local bottom between $30,000 and $35,000. Referring to his statement earlier this month that he expects a 30% correction for bitcoin, Hayes elaborated in Wednesday’s blog post that “A 30% correction from the ETF approval high of $48,000 is $33,600.” He also previously noted, “The washout could be ...

Elon Musk’s electric car company, Tesla, has maintained its bitcoin holdings. The company’s balance sheet for Q4 2023 shows net digital assets of $184 million. Musk is convinced that in the long term, Tesla will be the most valuable company on earth. The billionaire recently disclosed that another of his companies, Spacex, also owns “a bunch of bitcoin.” Tesla’s Bitcoin Holdings Stand at $184 Million Tesla, Elon Musk’s electric car company, released its fourth quarter 2023 earnings on Wednesday, showing net digital assets of $184 million on its balance sheet. Tesla has held this amount of digital assets since the fourth quarter of 2022. Tesla previously explained that its digital assets were made up almost entirely of bitcoin ( BTC ), noting that while the company accepts the meme cryptocurrency dogecoin (DOGE) for some merchandise , the amount of dogecoin it has accumulated is very small. Musk acknowledged during the earnings call that “there’s going to be bumps along the way” fo...