Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

Bitcoin Climbs Closer to $95,000 with a 0.28% Increase in 24 Hours

Bitcoin climbed closer to the $95,000 benchmark and is now trading at $94,765, with a 0.28% increase in 24 hours.

MicroStrategy Buys $243 Million of Bitcoin After Share Sales

MicroStrategy Inc. bought $243 million of Bitcoin, the 10th consecutive weekly purchase by the enterprise software company turned leveraged Bitcoin proxy.

MicroStrategy purchased 2,530 Bitcoin tokens at an average price of approximately $95,972 from Jan. 6 through Jan. 12, according to a filing with the US Securities and Exchange Commission on Monday. The pace of the purchases had slowed in recent weeks.

The so-called Bitcoin treasury company plans to raise $42 billion of capital through 2027 using at-the-market stock sales and convertible debt offerings to purchase additional Bitcoin. MicroStrategy has already surpassed two-thirds of its equity goals less than three months after announcing its plans. It can buy another $6.5 billion of Bitcoin with the proceeds of share sales under the current plan.

Cantor Boosts MicroStrategy's Price Target as Bitcoin Drives Treasury Profits

Wall Street firm Cantor sees plenty of room for MicroStrategy's stock to run higher as the business software company continues to stash more bitcoin on its balance sheet.

Cantor analyst Brett Knoblauch boosted his price target on the stock to $613 from $518, which is the stock's average Wall Street analyst's price target.

"It has become increasingly clear that MSTR has developed a capital markets flywheel that allows it to accretively add bitcoin on a per share basis," Knoblauch wrote in a note to clients on Monday.

Trump Could Sign Crypto-Related Executive Orders On Day 1: Report

According to The Washington Post, Donald Trump is expected to issue executive orders on his first day in office concerning cryptocurrency banking operations and the repeal of a contentious accounting policy. This policy mandates that digital assets held by banks must be accounted for as liabilities on their balance sheets. Trump's team has emphasized this as a priority. These forthcoming executive actions are aimed at cryptocurrency regulation, with the intention of safeguarding crypto investors from what Trump describes as the 'Washington bureaucratic swamp.'

Donald Trump Jr. Joins Kalshi and Hypes Market for Election Bets

Donald Trump Jr. has taken on a role advising prediction market Kalshi, casting the betting site and others like it as a superior source of assessing the state of politics and elections.

Trump Jr., 47, announced the move in an X post on Monday, noting that his family and friends used Kalshi to know when his father, President-elect Donald Trump, clinched the 2024 US presidential election. Tarek Mansour, Kalshi’s chief executive officer, confirmed the appointment and said Trump Jr. will advise on strategy, including on how to expand.

Prediction markets are playing an increasingly visible role in American political discourse, notably on social media, where their real-time swings are often linked to news events in an effort to influence momentum. For months leading up to the 2024 election, prediction markets including Kalshi showed Trump as a favorite over Democratic candidate Kamala Harris, even as polls cast the race as a toss-up.

MicroStrategy’s Saylor Calls Bonds ‘Toxic’ in Pitch for Bitcoin

Companies should buy Bitcoin because bonds are “toxic,” according to MicroStrategy Inc. co-founder and Chairman Michael Saylor.

Saylor compared returns in Bitcoin and bonds since 2020, noting that the cryptoasset has gone up since the company adopted its Bitcoin-buying strategy while bonds have declined, according to a slide in his presentation at the ICR Conference in Orlando on Monday.

“It works for any company,” Saylor said in the retail conference’s keynote speech, addressing a standing-room only ballroom full of executives and investors. “Every company has a choice to make: Cling to the past” by purchasing Treasury bonds, executing buybacks and dividends, or “embrace the future” by using Bitcoin as digital capital, Saylor said.

Senate Banking Committee Forms First Crypto Subcommittee

The Senate Banking Committee, under the leadership of Republican Senator Tim Scott, has announced the establishment of its first-ever subcommittee dedicated to cryptocurrency. This development follows the recent shift in power, with Republicans gaining control of both the Senate and the House, positioning President-elect Donald Trump to begin his second term with a unified government. This change strengthens the Republican Party's ability to advance crypto-friendly legislation in the upcoming term, aligning with Trump's campaign promise to position the United States as a global leader in cryptocurrency.

Stablecoin Issuer Tether to Establish Headquarters in El Salvador, Relocate Units

Stablecoin issuer Tether Holdings Ltd. will move its corporate entity and subsidiaries to El Salvador after securing a digital asset service provider license in the Central American nation.

Tether, one of crypto’s most significant companies with more than $137 billion in reserve assets under management, has been registered in the British Virgin Islands. The company has a longstanding relationship with the Salvadoran government, assisting in the country’s bid to become a hub for Bitcoin and crypto entrepreneurs.

Bitcoin Spot ETF Flow

On Jan 13 (Eastern Time), the total net outflow for Bitcoin spot ETFs was $284.19 million, according to SoSoValue data.

The Bitcoin spot ETF with the highest net outflow on Jan 13 was Fidelity Wise Origin Bitcoin Fund, with a net outflow of $113.64 million. Following that was ARK 21Shares Bitcoin ETF, with a net outflow of $92.36 million.

As of now, the total net asset value of Bitcoin spot ETFs is $105.05 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.67%.