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Bitcoin rose 1.6% to $83,000 in latest 24 hours. Traders remain divided—some see a bearish setup, while others believe the bull run is yet to start.

Abu Dhabi’s MGX Makes Record $2 Billion Investment in Binance

Binance said Abu Dhabi’s MGX has acquired a minority stake for $2 billion, the first institutional investment in the world’s largest cryptocurrency exchange.

It is the Emirati investment fund’s first entry into the crypto and blockchain sectors, Binance and MGX said in a statement Wednesday. The investment was made using an unnamed stablecoin and is the largest ever in a crypto company, they said.

Peter Schiff Warns Americans Will Be Harmed Most When Bitcoin Bubble Pops

Economist and market commentator Peter Schiff warned on Wednesday that Americans would bear the brunt of the impact should the Bitcoin “bubble” burst.

During his podcast, Schiff disputed the notion that the U.S. establishing a Strategic Bitcoin Reserve would spark a global race to acquire BTC.

“If the U.S. government is not going to buy any Bitcoin, then why is anybody else?” Schiff questioned. “I never believed that other countries would be dumb enough to buy Bitcoin just because we did it.”

The Bitcoin critic argued that the U.S. did it because politicians were influenced by the cryptocurrency lobby, an allegation that he has also made in the past.

South Korea’s Regulator to Release Crypto Investment Guidelines by Q3 2025

On March 12, 2025, South Korea’s Financial Services Commission (FSC) announced plans to introduce comprehensive investment guidelines by Q3 2025, aimed at regulating institutional participation in the cryptocurrency market.

The guidelines will regulate digital asset investments by institutional investors, public companies, and non-profit organizations, fostering market stability.

According to the announcement made during a meeting with local crypto industry experts on Wednesday, the FSC emphasized its commitment to aligning South Korea’s crypto policies with global financial standards.

California Senator Backs Bitcoiner for $500B Pension Fund Board Seat

California legislators have endorsed Dom Bei, a firefighter and founder of a Bitcoin nonprofit, in his campaign for a seat on the California Public Employees’ Retirement System (CalPERS) board.

If elected, Bei would become the first openly pro-Bitcoin voice on the 13-member board overseeing the $500 billion pension fund, which serves over two million public sector retirees.

Rumble’s Bitcoin Bet Grows with $17M Purchase

Rumble, the video-sharing platform known for its free-speech stance, has made a bold move into Bitcoin as the asset’s price hovers around $80,000.

On Wednesday, the company announced it had acquired 188 Bitcoin for about $17m at an average price of $91,000 per coin. This purchase aligns with its strategy to allocate up to $20m toward Bitcoin as part of its corporate treasury.

Rumble Chairman and CEO Chris Pavlovski framed the move as a hedge against inflation and a stand against currency dilution, which has plagued traditional government-issued money.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Wednesday (Mar 12) was $13.33 million. The total net asset value of Bitcoin spot ETFs is $92.45 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.61%.

The Bitcoin spot ETF with the highest net inflow on Mar. 12 was ARK 21Shares Bitcoin ETF, with a net inflow of $82.60 million. Following that was Grayscale Bitcoin Mini Trust, with a net inflow of 5.51 million, according to SoSoValue.