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Are Corporate BTC Piles Good or Bad for Bitcoin?
What happened
This year US corporations have begun stockpiling Bitcoin treasuries in earnest as the race for 21 million BTC tokens continues. This creates enormous structural support for market prices. But is it ideal? After setting a historic record high around $109,000 on Jan. 21, Bitcoin.
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Here’s what happened in crypto today
Today in crypto, North Korea denies involvement in Binance’s $6.3B hack, Mercado Bitcoin faces questions over a $46M theft, and Binance taps its SAFU Bitcoin reserves.
Binance has spent half its SAFU bitcoin, about $580 million worth, data shows
Binance has spent half its SAFU bitcoin, about $580 million worth, data shows The user protection fund now sits below the $800 million level that Binance’s own rules say triggers a top-up, and the exchange hasn’t said when it will refill it. By Shaurya Malwa Nov 3,.