Cryptonews

Bitmine Immersion Technologies announced Monday that its combined crypto, cash and “moonshot” investments reached $11 billion as of March 22, driven largely by its growing ethereum treasury.

Michael Saylor’s company added 1,031 Bitcoin to its holdings on Monday, investing a total of $76.6 million. The average purchase price was around $74,326 per Bitcoin. This purchase happened despite ongoing fear in the crypto market, with Bitcoin trading below the company’s original purchase price, and followed a suggestion from Saylor that another purchase was coming.

And lo, within ten minutes, Bitcoin shot up like a rocket at a Fourth of July picnic, hitting a giddy $71,401.85. Who knew peace could be so profitable?

Ah, Strategy, that relentless harpy of the cryptocurrency skies, continues its Sisyphean task of amassing Bitcoin, adding 1,031 BTC at the princely sum of $74,326 per coin. So declares the oracle, Michael Saylor, whose pronouncements are as inevitable as the ticking of a Swiss clock. The firm’s treasury now swells to 762,099 BTC, acquired for a sum so vast-$57.69 billion-it could fund a small nation’s whims. Or, perhaps, a very large library of rare butterflies.

The market’s recovery boosted investor confidence after recent declines caused by concerns in the Middle East. This increase also forced many traders who had bet against the market to buy back in, further driving up prices.

In a proclamation issued via his Truth Social (a platform of which one might charitably say it is not lacking in candor), Mr. Trump directed the Department of War to suspend its designs upon Iran’s power plants and energy infrastructure for a period of five days, contingent upon the progress of ongoing negotiations. Brent oil, ever sensitive to such pronouncements, retreated to $102.6 (-6.22%) with all the haste of a debutante fleeing an unsuitable match.

Meanwhile, investors are glued to the U.S. data calendar like it’s the final episode of their favorite show. From March 23 to 27, we’ll get reports on business activity, jobless claims, and consumer sentiment-because nothing calms nerves like knowing how many people can’t afford ramen.

Mr. Trump, ever the orator, declared on Truth Social that the two nations had engaged in “very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East.” One might wonder if “complete and total” refers to the resolution of hostilities or the resolution of the average citizen’s ability to comprehend the language of politics.

The “Fear & Greed Index,” that paragon of market whimsy, is a creation of Alternative, which endeavors to divine the collective psyche of crypto traders. It employs five sacred pillars of market whimsy: volatility, trading volume, market cap dominance, social media sentiment, and Google Trends. A numerical scale, ranging from zero to 100, is used to gauge this sentiment, with values below 47 indicating a state of profound dread and above 53 suggesting a reckless surge of optimism. Naturally, the middle ground is where the timid and the neutral reside.

NYSE Arca and NYSE American have removed the limits on how many contracts traders could buy or sell for options on 11 different cryptocurrency ETFs. These limits, which were only introduced at the end of 2024, have been lifted immediately thanks to a waiver from the SEC – the change took effect right away.