The Blockchain Bulletin, Feb 11: Ripple eases fund transfers for Portugal, Brazil
Hey folks! Welcome to the latest edition of The Blockchain Bulletin. Let’s have a quick retake of all that happened in the crypto world over the last 24 hours. The trade wars have escalated between the US and China, with the latter imposing $14B on U.S. goods, like coal and LPG. It further imposed a 10%-15% tariff on American crude oil, agro machinery, and large-engine vehicles. In response, President Donald Trump declared to impose 25% on steel and aluminum imports. Further, Trump stated that countries that plan to impose a tax on American goods would also face dire consequences.
MicroStrategy, now rebranded as Strategy, has made a significant acquisition by purchasing an additional 7,633 Bitcoins for approximately $742.4 million, averaging $97,255 per Bitcoin. This move brings the company’s total Bitcoin holdings to 478,740, valued at around $31.1 billion, with an average purchase price of $65,033 per Bitcoin.
Similarly, Metaplanet accumulated 1,762 Bitcoins, valued at over €172 million, leading to a remarkable 3,500% surge in its stock value over the past year. Metaplanet aims to expand its holdings to 10,000 Bitcoins by the end of 2025 and 21,000 by 2026, positioning itself among the world’s leading Bitcoin holders. The company also plans to transform its Tokyo-based Royal Oak Gotanda Hotel into a Bitcoin Hotel, promoting cryptocurrency adoption through educational initiatives and specialized publications.
Related: Ripple Partners with Unicâmbio for Faster Payments in Europe
In the regulatory sphere, Eric Council Jr., a 25-year-old from Alabama, has pleaded guilty to charges related to a January 2024 hack of the U.S. Securities and Exchange Commission’s (SEC) social media account. Council and his co-conspirators used a “SIM swap” technique to access the SEC’s account on X (formerly Twitter), posting a false announcement about the approval of Bitcoin exchange-traded funds.
This misinformation briefly caused a $1,000 spike in Bitcoin’s price, followed by a $2,000 decline after the SEC clarified the post’s inauthenticity. Council reportedly profited approximately $50,000 from the scheme and faces sentencing in May, with potential penalties including up to five years in prison and a $250,000 fine. Meanwhile, the Central African Republic (CAR) has introduced a meme coin called $CAR to enhance its global profile.
Related: Bitcoin Hash Rate Hits Record 931.69 EH/s, Boosting Security
In the mining sector, a solo miner has achieved the rare feat of producing a Bitcoin block independently. This occurrence is uncommon due to the high computational power typically required for Bitcoin mining, making solo mining increasingly rare. The miner’s success underscores the decentralized nature of the Bitcoin network, where individual participants can still contribute to block production despite the dominance of large mining pools.
Bitcoin’s growing influence is evident in corporate acquisitions, national adoption efforts, and regulatory challenges, reinforcing its position as both a financial asset and a disruptive force in the global economy.
