Bitcoin Surges Near $100,000: Company Nets $571 Million from Crypto Sell-Off

Cryptocurrency Market Update

Bitcoin (BTC) briefly touched $100,000 on December 4th, while Ethereum (ETH) surged over 6%, driven by bullish market sentiment. Key developments include:

CME Bitcoin Futures: Peaked at $98,780, a 2.33% daily increase.
Ethereum Futures: Reached $3,893.50**, with intraday highs near **$3,949.
Market Volatility: Over 160,000 traders faced liquidations in 24 hours (Coinglass data).

👉 Why is Bitcoin volatility so high?

Federal Reserve Chair Powell’s Insights

At the DealBook/Summit conference, Jerome Powell emphasized:

"Bitcoin’s competitor is gold, not the dollar. Its volatility makes it unsuitable as a stable payment tool."

Key Takeaways:

Gold vs. Bitcoin: Both serve as value stores, but Bitcoin’s price swings deter mainstream adoption.
Regulatory Clarity: Powell’s comments hint at ongoing scrutiny of crypto’s role in financial systems.

Corporate Crypto Moves

1. Meitu’s Strategic Exit

Total Profit: $79.63 million (~¥571 million) from selling 31,000 ETH and 940 BTC.
Initial Investment: $100 million in 2021.
Dividend Plan: 80% of profits to shareholders (~$0.109/share).

2. Booyaa Interactive’s Bitcoin Holdings

BTC Holdings: 2,641 BTC (worth $226 million).
Average Purchase Price: $54,000/BTC.

👉 How do companies benefit from crypto investments?

Bitcoin ETF Growth

U.S. Spot ETFs: Assets ballooned from $28 billion** (January 2024) to **$82 billion (December 2024).
BlackRock’s IBIT Fund: Recorded $11 billion in single-day inflows.

Risks and Market Considerations

Volatility: Bitcoin’s price remains highly sensitive to macroeconomic shifts.
Security Risks: Exchange hacks and regulatory changes pose ongoing threats.
Investor Caution: Diversification and long-term strategies are advised.

FAQ Section

Q: Why did Bitcoin spike to $100,000?
A: Institutional demand (via ETFs) and limited supply post-halving fueled the rally.

Q: Is Ethereum a better investment than Bitcoin?
A: ETH offers utility (smart contracts), but BTC is seen as a "digital gold" store of value.

Q: Should I invest in crypto now?
A: Assess risk tolerance—crypto suits aggressive investors comfortable with volatility.

Cover Image: Visual Capitalist (for illustration only).
Keywords: Bitcoin, Ethereum, cryptocurrency, ETFs, Meitu, Booyaa Interactive, volatility, Powell


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