The co-founder of Nasdaq-listed business intelligence firm MicroStrategy, Michael Saylor, has hinted at its tenth consecutive weekly BTC purchase through a new post on social media.

AI agent tokens have been enduring a steep correction over the past week amid a wider altcoin market downturn, with some of these tokens losing over half of their value during this period.

Popular prediction market Polymarket has been blocked in Singapore, with the region’s users now seeing a warning from the Gambling Regulatory Authority labeling the platform as an illegal gambling operation.

Top stories in the Crypto Roundup today:

• MicroStrategy's Saylor Hints at 10th Consecutive Weekly Bitcoin Purchase
• AI Agent Tokens Plunge as BTC Remains Stable
• Singapore Blocks Access to Prediction Market Polymarket

MicroStrategy's Saylor Hints at 10th Consecutive Weekly Bitcoin Purchase

The co-founder of Nasdaq-listed business intelligence firm MicroStrategy, Michael Saylor, has hinted at its tenth consecutive weekly BTC purchase through a new post on social media.

In his post, Saylor shared a screenshot of a website tracking MicroStrategy’s bitcoin holdings, signaling an impending purchase. Over the last few weeks, Saylor has been making similar posts, which were followed by large bitcoin acquisitions.

MicroStrategy now has 447,470 BTC on its balance sheet, and its most recent acquisition was of 1,070 coins. The firm recently announced plans to raise up to $2 billion through preferred stock offerings to keep fueling additional purchases.

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.

AI Agent Tokens Plunge as BTC Remains Stable

AI agent tokens have been enduring a steep correction over the past week amid a wider altcoin market downturn, with some of these tokens losing over half of their value during this period.

The native token of the decentralized autonomous organization (DAO) supported venture fund ai16z saw its price plunge from around $2.26 to $1.07.

Other similar tokens, including that of the Virtuals protocol that allows users to create decentralized AI-driven digital assets, and the token of the Swarms framework, both experienced similar declines.

These declines contrast with bitcoin’s performance, which has remained relatively stable around the $93,000 mark. As a result, bitcoin’s share of the cryptocurrency market has risen by 2% over the past week to now stand at 58.35%.

Singapore Blocks Access to Prediction Market Polymarket

Popular prediction market Polymarket has been blocked in Singapore, with the region’s users now seeing a warning from the Gambling Regulatory Authority labeling the platform as an illegal gambling operation.

The warning points out that gambling on unlicensed platforms could lead to fines and/or jail time, with the blockade on Polymarket falling under the Gambling Control Act 2022. 

The act mandates all gambling operations targeting its residents to obtain proper licensing. Singapore’s online gambling operations currently have one licensed provider, Singapore Pools. 

Polymarket, which allows users to bet on the outcomes of real-world events, including elections, has also faced resistance in other jurisdictions. In November, the French gambling regulator ANJ blocked access to the platform.

In the United States, the platform is currently being investigated by the Commodity Futures Trading Commission (CFTC), which proposed stricter rules for the platform.

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