Two major corporate holders of bitcoin have signaled their intent to keep on increasing their already substantial BTC reserves, underscoring the continued commitment to their accumulation strategy.

Last year the Bitcoin network saw a significant rebound in transaction volume, settling more than $19 trillion in transactions. The figure more than doubles the $8.7 trillion settled over 2023.

Nasdaq-listed cryptocurrency exchange Coinbase has acquired a key license for its European expansion plans through the acquisition of the Cyprus unit of European brokerage firm Bux.

Top stories in the Crypto Roundup today:

• Major Corporate Bitcoin Holders Double Down on BTC
• Bitcoin Network’s Transaction Volume Tops $19 Trillion in 2024
• Coinbase Expands European Footprint with MiFID II License Through New Acquisition

Major Corporate Bitcoin Holders Double Down on BTC

Two major corporate holders of bitcoin have signaled their intent to keep on increasing their already substantial BTC reserves, underscoring the continued commitment to their accumulation strategy.

The largest corporate holder of bitcoin, MicroStrategy, announced on social media plans to raise up to $2 billion through preferred stock offerings to fuel additional BTC purchases this year.

The move aligns with the firm’s “21/21 Plan,” a multi-year capital strategy aiming to raise $21 billion in equity and $21 billion in fixed income instruments. The firm already holds approximately $44 billion worth of bitcoin and has been accumulating heavily over the last few months.

Across the Pacific Metaplanet, a Japanese investment firm often referred to as “Japan’s MicroStrategy,” declared it’s looking to acquire 10,000 BTC valued at nearly $1 billion at current prices.

Bitcoin Network’s Transaction Volume Tops $19 Trillion in 2024

Last year the Bitcoin network saw a significant rebound in transaction volume, settling more than $19 trillion in transactions. The figure more than doubles the $8.7 trillion settled over 2023.

The data comes from Pierre Rochard, vice president of research at Riot Platforms, who also revealed that the network’s transaction volumes neared $47 trillion during the 2021 bull market, but declined sharply in 2022 and 2023.

In 2024, Bitcoin saw major developments including a halving event and the launch of spot Bitcoin exchange-traded funds (ETFs) in the United States, which helped boost its price above the $100,000 line for the first time.

The network’s hash rate, a measure of the total computation power securing the network, has also surged to a new all-time high of over 1,000 exahashes per second (EH/s).

Coinbase Expands European Footprint with MiFID II License Through New Acquisition

Nasdaq-listed cryptocurrency exchange Coinbase has acquired a key license for its European expansion plans through the acquisition of the Cyprus unit of European brokerage firm Bux.

The acquisition, made in August according to a recent company blog post, granted Coinbase a Markets in Financial Instruments Directive II (MiFID II) license and led to Coinbase changing its entity’s name to Coinbase Financial Services Europe in October.

The license is pivotal for Coinbase’s European expansion, with the blog post noting that such a license can “further support the strong interest we’ve seen in our derivatives offerings and help us capture more of the ~75% of the global crypto market claimed by derivatives.”

Coinbase noted it still has a “long road ahead before finalizing the acquisition and operationalizing the EU MiFID licensed entity.”

State of the Crypto by Top Tier Exchange Volume

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