Bitcoin at $82,507!

The Fear & Greed Index is at 32 – Fear, showing investor caution amid regulatory shifts and corporate shakeups.

Elon Musk Sells X to xAI – Huge Potential or Publicity Stunt?

Elon Musk has transferred ownership of his social media platform X to his AI company xAI, sparking both excitement and skepticism.

• The move came on March 28, just as a U.S. judge rejected Musk’s motion to dismiss a fraud lawsuit alleging he misled former Twitter shareholders.
• Musk valued xAI at $80B and X at $33B, accounting for $12B in existing debt.
• He claims the merger will combine data, models, compute, and reach, making xAI a key player in AI development.
• Critics argue Musk used inflated xAI shares to “buy” X, calling it a scheme to transfer user data and escape liability.
• xAI is best known for its AI chatbot Grok, which Musk claims outperforms ChatGPT’s early versions.

BlackRock Launches Bitcoin ETP in Europe

BlackRock has expanded its crypto offerings by launching the iShares Bitcoin ETP across multiple European exchanges.

• The ETP went live on March 25 on Xetra, Euronext Amsterdam, and Euronext Paris, under the tickers IB1T and BTCN.
• With 0.15% fees until the end of 2025, it undercuts most competitors and is expected to attract long-term institutional interest.
• Though the European market may not react like the U.S., this move still strengthens crypto’s foothold in traditional finance.
• BlackRock now manages both the top Bitcoin and Ethereum ETFs, signaling deeper institutional commitment to digital assets.

Strategy Now Holds Over 500,000 Bitcoin

Michael Saylor’s firm Strategy has surpassed the half-million BTC milestone, following a major acquisition last week.

• From March 17–23, the company bought 6,911 BTC for $584M, averaging $84,529 per coin.
• Their total holdings now stand at 506,137 BTC, purchased for $33.7B at an average price of $66,608.
• The latest purchase was financed by preferred stock sales expected to raise $711M, due by March 25, 2025.
• The move comes despite concerns over Trump’s upcoming global tariff policies, which analysts say may pressure markets into April.
• Strategy continues to buy the dip, affirming its position as the largest institutional BTC holder worldwide.