Bitcoin has dropped more than 3%, and Ethereum fell over 7% during the public fallout between the Elon Musk and Donald Trump. More than 220,000 cryptocurrency traders were liquidated with total liquidations reaching nearly $1-billion, almost all of which were long positions.
Micro Strategy is in the news once again with the company acquiring additional 705 bitcoins for a total of $75.1 million at 105,495 dollars. This has given them a bitcoin yield of 16.9 percent till date. As of 1st June 2025, the Micro Strategy holds 580,955 Bitcoins acquired for $40.68 billion at $70,023 per bitcoin.
Pakistan has announced plans to allocate a portion of its surplus electricity to Bitcoin mining. Some of this will also be allocated to artificial intelligence data centers. He added that Pakistan has held discussions with several Bitcoin mining companies. The locations of the mining centers will be determined based on areas with excess power supply.
Binance founder, CZ has announced that Kyrgyzstan’s national cryptocurrency reserve will be utilizing two currencies, Bitcoin and Binance coin. CZ announced that he had accepted the invitation of Kyrgyz President Sadyr Japarov to join the Kyrgyz National Crypto Committee.
Binance has made an announcement that it would now require all Indian users to re-verify their identities to comply with the anti-money laundering regulations. This applies to both new and existing users.
News is coming that Sweden is considering adding Bitcoin to its foreign reserves very soon. Their lawmaker Rickard Nordin said that Bitcoin has gold like currency properties. He added Bitcoin is widely used and is an effective way to combat inflation, just like Gold.
Binance, world’s biggest cryptocurrency exchange has announced its partnership with WorldPay that will allow users to buy cryptocurrency using Apple Pay and Google Pay. This means buying cryptocurrencies using fiat currency just got a whole lot noob friendly.
If you own a high end graphics card, NewEgg has an offer for you that would allow you to earn NewEgg gift card that is spendable on their website.
Agustin Cruz, a prominent Bitcoin developer, has proposed a draft for a Bitcoin Improvement Proposal with the title Quantum-Resistant Address Migration Protocol.
According to the CEO of Crypto Quant, the Bitcoin’s bull market is over and you can now expect 6-12 months of bearish price action. He adds that every single on-chain metric now points to a bear market.
