Crypto Daily | Bitcoin Rises to $89,534; Coinbase Eyes Prediction Markets; Robinhood Tokenizes Stocks on Arbitrum

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Bitcoin(BTC) Surpasses $89,000 with a Narrowed 0.72% Decrease in 24 Hours

Bitcoin has crossed the $89,000 benchmark and is now trading at $89,534, with a narrowed 0.72% decrease in 24 hours.

Ethereum(ETH) Drops Below $3,100 with a 0.80% Decrease in 24 Hours

Ethereum has dropped below $3,100 and is now trading at $3,096, with a narrowed 0.80% decrease in 24 hours.

Tether’s €1.1 Billion Juventus Play Pits New Money Vs. Old

Tether Holdings SA’s offer to acquire Juventus Football Club SpA pits a fast-growing crypto powerhouse against a more than century-old Italian industrial dynasty.

The crypto firm’s all-cash proposal to buy Exor NV’s 65.4% holding for €2.66 a share values Juventus at about €1.1 billion ($1.3 billion), according to a letter sent to Exor and seen by Bloomberg on Saturday. It represents a roughly 21% premium to Juventus’s closing share price in Milan on Friday.

Coinbase Set to Launch Prediction Markets, Tokenized Equities on December 17

Coinbase Global is set to launch prediction markets and tokenized equities at a showcase on December 17, Bloomberg News reported, citing a person familiar with the matter.

Tokenized stocks are expected to be launched in-house, according to the person who asked not to be named because the information wasn't yet public.

The new products' rollout are a part of the company's push to become an everything app, noted Bloomberg.

Michael Saylor Hints at New Bitcoin Purchase Amid Price Drop

Strategy Chairman Michael Saylor has suggested a potential new purchase of Bitcoin following a price decline to a two-week low of $87,600 on Sunday evening. Saylor hinted at this move with a post on the X platform stating, 'Back to More Orange Dots.'

Strategy's most recent acquisition was on December 12, when it purchased 10,624 BTC, marking the largest purchase since late July. Currently, Strategy holds 660,624 BTC, valued at approximately $58.5 billion at the current price, with an average cost of $74,696 per Bitcoin.

Robinhood Tokenizes Stocks on Arbitrum

Jinse Finance reported that Token Terminal posted on X platform stating that Robinhood has tokenized stocks on Arbitrum, with the total tokenized market value recently surpassing 13 million USD. Johann Kerbrat said: "Ethereum provides us with native security guarantees, while Arbitrum gives us the engineering flexibility we need."

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF last Friday was $49.16 million. The total net asset value of Bitcoin spot ETFs is $118.27 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.57%.

The Bitcoin spot ETF with the highest net inflow on Dec. 12 was iShares Bitcoin Trust ETF, with a net inflow of $51.13 million, according to SoSoValue.