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Brazilian Bitcoin Treasury OranjeBTC Buys Back Stock Instead of BTC

Brazil's Bitcoin treasury, OranjeBTC, halted its Bitcoin purchases and opted to buy back its own shares shortly after its public trading debut on October 7. The company, which owns 3,708 BTC valued at $408.3 million, is choosing this strategy as its shares were trading below net asset value. This buyback is seen as a way to enhance stock value by reducing supply. The move comes during a period when Bitcoin is trading at approximately $109,834, about 13% below its all-time high. OranjeBTC highlighted the intent to maximize Bitcoin per share for its shareholders, contemplating future capital allocation strategies. The decision raises questions among industry observers regarding the viability of this approach, especially for struggling firms. OranjeBTC competes with Méliuz, a Brazilian fintech, which claims to be the first Bitcoin treasury company in South America and has also made significant Bitcoin investments this year.

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Record $1.26B Outflow Hits BlackRock Bitcoin ETF as Bearish Options Cost Soars

BlackRock's Bitcoin ETF, IBIT, has encountered a monumental net outflow of $1.26 billion in November, marking the most significant withdrawal since its inception in January 2024. This outflow comes amidst a price decline of 16%, bringing the share price down to $52, a level not seen since

Mastercard Picks Polygon to Bring Verified Usernames to Self-Custody Wallets

Mastercard has announced its collaboration with Polygon to introduce a system allowing users to send cryptocurrencies using verified usernames instead of lengthy wallet addresses. This new feature, referred to as the Mastercard Crypto Credential, aims to enhance security and user-friendliness in crypto transactions. By utilizing the services of Mercuryo, a

Bitcoin Dominance is Bleeding With Price, But Market Observers Say Altcoin Season is on Hold

Bitcoin's recent decline in price and dominance rate indicates a broader market deleveraging rather than a straightforward rotation into altcoins. While Bitcoin has dropped nearly 16% this month, its dominance has slipped from 61.4% to 58.9%. Despite speculation about an upcoming 'altcoin season', many

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