### Bitcoin Approaches $100K

Bitcoin (**BTC-USD**) is making headlines as it inches closer to the **$100K mark**, leading to a significant spike in trading activity for crypto-linked stocks on the **Interactive Brokers** (**IBKR**) platform.

![Bitcoin Surges To New Record Highs](https://static.seekingalpha.com/cdn/s3/uploads/getty_images/2183657650/image_2183657650.jpg?io=getty-c-w750)
*Chris McGrath/Getty Images News*

### Increased Trading Activity

The recent surge in Bitcoin's price has resulted in heightened trading volumes for crypto-related assets, indicating a growing interest among investors. Notably, **MicroStrategy** (**MSTR**), recognized for its extensive **Bitcoin holdings**, has emerged as one of the most traded stocks during this period.

Investors are keenly watching how Bitcoin's momentum might influence the broader market, particularly with its potential to reach unprecedented heights. The excitement surrounding this price target has led crypto enthusiasts and traders alike to engage more actively in the market, further pushing the narrative of Bitcoin as a significant player in today’s financial landscape.

Bitcoin&#39;s surge towards $100K sparked increased trading activity in crypto-linked stocks on the Interactive Brokers platform. Read more here.

Bitcoin's $100K Quest Fuels Crypto Stock Trading Surge on IBKR Platform

The Netflix documentary, **Biggest Heist Ever**, reveals the outrageous crimes of **Ilya Lichtenstein** and **Heather Morgan**, a modern-day Bonnie and Clyde, who pulled off a heist worth **$72 million** in Bitcoin in **2016**. This amount has ballooned to approximately **$4.5 billion** today due to the cryptocurrency's rapid growth. The film dives into the details of how this couple, both tech enthusiasts, transitioned from successful careers in Silicon Valley to orchestrating one of the largest heists in history.

### 10 Police Watched The Stolen Money Being Spent
Bitcoin's unique nature means that while it offers anonymity, it also leaves a digital trail. Law enforcement was able to track the stolen Bitcoin from **Bitfinex**, the exchange that was hacked, to the couple's accounts and monitor their spending habits. This unique visibility of cryptocurrency posed challenges for the thieves, as their transactions could be traced.

### 9 Heather & Ilya Left A Thriving Tech Startup
Despite their success, Ilya and Heather abruptly moved to New York City, leaving behind their tech careers. This decision raised eyebrows, but it wasn't until their involvement in the heist came to light that it made sense.

### 8 Razzlekhan Was Inspired By Awkwafina
Heather embraced a new persona as a rapper named **Razzlekhan**, inspired by her interview with **Awkwafina**. Despite lacking talent, she pursued this career, even as it contradicted her professional image.

### 6 Ilya's Father Was Also A Skilled Hacker
Ilya's father, a skilled hacker himself, may have played a role in helping the couple execute their heist, although he was not a central figure in the investigation.

### 5 The Bag Labeled Burner Phones And Other Evidence
In their New York apartment, the FBI discovered incriminating evidence, including **burner phones** labeled explicitly for their intended use. This lack of caution was striking for individuals involved in such a massive crime.

### 3 Bitfinex May Be The Primary Beneficiary Of The Seized Bitcoin
Bitfinex, the company from which the Bitcoin was stolen, has sought to compensate its users, potentially positioning itself as the main beneficiary of the seized assets, which have appreciated significantly in value.

### 2 Heather Was Released From Prison Due To Health Conditions
Despite her involvement in the heist, Heather was released from prison due to health issues, allowing her to continue her activities in the cryptocurrency space.

### 1 A Billion Dollars Worth Of Bitcoin Is Still Unaccounted For
While the FBI recovered over **$3 billion**, there remains **$1 billion** worth of Bitcoin unaccounted for, raising questions about its fate. The couple's actions and the resulting fallout from their heist continue to captivate audiences, highlighting the complexities of cryptocurrency crime.

The Biggest Heist Ever documentary sheds light on the most successful crime in modern history, and it all came from an unsuspecting couple.

Uncovering the Biggest Heist in History: The Shocking True Story Behind Netflix's Documentary

### Bitcoin Hits a Milestone
Bitcoin has recently surpassed **$100,000** for the first time, sparking predictions that its price could **double** within a year. Analysts are buzzing about the potential for Bitcoin to reach **$200,000** by the end of **2025**.

### Institutional Investors Driving Demand
Geoff Kendrick, Standard Chartered’s Global Head of Digital Assets Research, attributes this bullish outlook to the **influx of institutional investors**. Many are gravitating towards **spot ETFs**, which has accelerated demand. Notably, **MicroStrategy**, a firm known for its aggressive Bitcoin acquisition strategy, has been purchasing the asset at an impressive rate.

### Future Projections
Kendrick forecasts that institutional flows will not only continue but may even increase under the potential regulatory changes anticipated with President-elect **Donald Trump**. He stated, "Against this backdrop, we think our end-2025 Bitcoin price target around the **$200,000** level is achievable."

### MicroStrategy's Expansion
MicroStrategy has plans to acquire **$42 billion** worth of Bitcoin over three years and is ahead of schedule, having added **150,000 Bitcoin** since the recent election. Currently, they hold **402,100 Bitcoin**, valued at over **$40.5 billion**.

### Broader Market Dynamics
Kendrick also notes potential allocations from **pension funds** and **sovereign wealth funds** into Bitcoin ETFs could further bolster prices. He mentions the idea of a **U.S. strategic reserve of Bitcoin**, which he considers a low-probability but potentially positive event for the market.

### Market Reactions
As Bitcoin's price fluctuated around **$100,000**, analysts are divided on short-term implications. Matt Mena from **21Shares** highlighted the psychological significance of breaking the **$100,000** barrier, while Brent Kenwell from **eToro** suggested profit-taking might occur as the price stabilizes.

### Price Movements
After briefly dipping below **$100,000**, Bitcoin rebounded to touch **$102,000**. FXTM’s Lukman Otunuga indicated that a strong weekly close above **$100,000** could signal further upward movement, while a drop below this level could open the door for bears targeting **$95,000**.

Bitcoin just claimed $100,000 for the first time this week, but analysts are already calling for the mark to double in a year. Here's why.

Is Bitcoin Set to Soar? Analyst Predicts $200K Price Target by 2025!

### A $30 Million Infusion into Trump's Crypto Venture

A sudden **$30 million investment** from **Justin Sun**, a Chinese billionaire accused of fraud by the **SEC**, into **Donald Trump's** new cryptocurrency venture has raised eyebrows among government watchdogs. This investment could lead to a significant payday for Trump-associated companies.

### Concerns Over Foreign Influence

The investment has sparked concerns about Trump's potential to profit from foreign investors, especially following his campaign promise to make the U.S. the **"crypto capital of the planet."** Sun’s investment positions him as the largest investor in **World Liberty Financial**, a company associated with Trump.

### Profits and Political Influence

Under the terms of the deal, Trump’s affiliated company, **DT Marks DEFI LLC**, stands to make over **$15 million**. This raises ethical questions about the influence of such financial contributions on Trump's crypto policies and the ongoing SEC lawsuit against Sun.

### Trump's Pro-Crypto Stance

Despite previously labeling cryptocurrency a **"scam,"** Trump has recently advocated for **World Liberty Financial**, emphasizing the need for the U.S. to lead in the crypto space. His administration has already seen pro-crypto appointments, including **Paul Atkins** to head the SEC.

![Trump at Dort Financial Center](https://i.abcnewsfe.com/a/617e0b49-0fb0-4d6e-a7c7-3c7588153ea1/trump-gty-thg-241206_1733503207729_hpEmbed_3x2.jpg)
*Republican presidential nominee, former President Donald Trump in Flint, Michigan.*

### Ethical Concerns and Company Dynamics

Critics argue that the arrangement allows for a troubling **funnel of money** to Trump, raising significant ethical concerns regarding potential conflicts of interest. World Liberty Financial's unclear business model has also faced scrutiny since its launch.

### Justin Sun's Controversial Background

Sun, known for his extravagant spending and previous SEC lawsuits, has now joined World Liberty Financial as an adviser, which some experts consider a risky move. Critics warn that his financial backing could blur the lines between public and private interests in the crypto space.

### The Future of Trump's Crypto Venture

The investment might significantly benefit Sun, especially if cryptocurrencies continue to rally post-election. However, experts remain wary, noting that Trump's continued involvement poses risks regarding his influence on crypto regulations, particularly concerning the SEC's actions against him and Sun.

![Justin Sun at Token2049](https://i.abcnewsfe.com/a/bd2c866a-0d89-4ddb-ac2c-aef541a83e8b/justin-sun-file-gty-ml-241205_1733428018105_hpMain.jpg)
*Justin Sun, founder of Tron, during the Token2049 conference in Singapore.*

A $30 million investment in Donald Trump's new crypto venture made by a Chinese billionaire accused of fraud by the SEC is sparking concerns from government watchdogs.

Trump's $30 Million Crypto Deal: A Controversial Investment from a Fraud-Accused Billionaire

### Overview
A prominent investor from **San Francisco** has recently landed a significant position within the **Trump White House**. This opportunity raises questions about the intersection of **technology** and **politics**.

### Who is the Investor?
The individual, known for their wealth and influence in the **tech sector**, has been a key player in various innovative projects. Their new role is expected to bridge the gap between **Silicon Valley** and the federal government, impacting policies that shape the future of technology in the U.S.

### Implications for Technology and Policy
This appointment could lead to **significant changes** in how technology companies engage with government regulations. Advocates of **innovation** hope this will foster a more **business-friendly** environment, while critics warn of potential conflicts of interest.

### The Bigger Picture
As the tech landscape evolves, the collaboration between the private sector and government will be crucial. This investor's role could set a precedent for future **partnerships** and influence the direction of **national tech policy**.

![Investor Image](https://www.sfgate.com/img/logos/black/logo.svg)  
Press & Hold to confirm you are a human (and not a bot).

Tech Tycoon from San Francisco Joins Trump Administration: What It Means for the Future

### BTC Digital Ltd Faces a Dramatic Drop

**BTC Digital Ltd (BTCT)** shares are down **25.4%** to **$11.69** during Friday's trading session, following the announcement of a **$20 million public offering**.  

The offering consists of **2.5 million ordinary shares** and pre-funded warrants, priced at **$8.00 per share** or **$7.999 per Pre-Funded Warrant**, which have a nominal exercise price of **$0.001** and are immediately exercisable. **Aegis Capital Corp.** has a **45-day option** to purchase an additional **15% of Ordinary Shares** to cover potential over-allotments.  

The offering is expected to close on **December 9**, pending customary conditions, with proceeds aimed at supporting general corporate needs and working capital.  

### Should You Sell Your BTCT Stock?

Deciding whether to sell or hold a stock depends on an investor's **strategy** and **risk tolerance**. Swing traders might sell to secure capital gains, while long-term investors may hold out for potential growth.  

BTC Digital shares have seen a remarkable **258.84% increase year-to-date**, significantly outperforming the average annual return of **40.89%**. This performance suggests that the current drop could be viewed as a normal fluctuation or a potential buying opportunity.  

The **Relative Strength Index (RSI)** currently stands at **46.72**, indicating neutral market conditions. Investors should also consider the stock's **52-week high of $25.40** and a **52-week low of $1.32** when making their decisions.

BTC Digital shares are trading lower by 24.6% during Friday's session. The company announced a $20 million public offering.

BTC Digital Shares Plunge: What Investors Need to Know About the $20 Million Offering

Donald Trump has appointed **David Sacks**, a prominent figure in the cryptocurrency space, as his **White House A.I. & Crypto Czar**. This significant move was announced on **Truth Social** and highlights Sacks' role in shaping the administration's policies in two critical areas: **Artificial Intelligence** and **Cryptocurrency**.

### Sacks' Role and Responsibilities
Trump emphasized that Sacks will guide the administration's strategy to ensure that America remains a **global leader** in these domains. He is tasked with **safeguarding free speech online** and countering **Big Tech bias and censorship**. Notably, Sacks will lead the **Presidential Council of Advisors for Science and Technology**.

### Sacks' Background
Although Sacks lacks prior government experience, his credentials as a former COO of **PayPal** and founder of **Yammer**, which was sold to **Microsoft**, were highlighted. He is also a close associate of **Elon Musk**, having contributed funding for Musk's acquisition of Twitter for **$44 billion** in 2022. 

### Economic Perspectives
Sacks advocates for **less government regulation** but called for intervention during the **Silicon Valley Bank** crisis in 2023, urging regulators to protect deposits and prevent economic contagion.

### Implications for Crypto Policy
With Sacks in this advisory role, U.S. policy on cryptocurrency and AI is expected to shift significantly. Unlike the **Biden administration**, which sought to regulate the crypto sector, Sacks is a **vocal supporter** of the industry and has invested in **Solana** and **Multicoin Capital**.

### Trump's Evolving Stance on Crypto
This appointment signals a notable change in Trump's perspective on cryptocurrency. In 2021, he labeled Bitcoin as a **“scam”**, advocating for strict regulations. However, his recent campaign efforts have seen substantial contributions from the crypto sector, which has funneled **$131 million** into pro-crypto candidates in the 2024 elections. Trump has since promised to position the U.S. as the **“crypto capital of the planet.”

This appointment of David Sacks could reshape the landscape of **cryptocurrency** and **AI** policy in the U.S., reflecting a broader acceptance and integration of these technologies into the government’s strategic framework.

On Thursday evening, president-elect Donald Trump took to Truth Social to announce that he was appointing former PayPal COO David Sacks as his “White House A.I. & Crypto Czar.”

Trump Appoints Crypto Advocate David Sacks as AI and Cryptocurrency Advisor: What This Means for the Future

### The MicroStrategy Phenomenon
The saga of **MicroStrategy** reads like financial fiction brought to life. Its improbable resurrection from **near-bankruptcy**, its audacious **pivot** in August 2020 from software vendor to **bitcoin maximalist**, and its **charismatic leader** have all contributed to a story that defies belief.

### A Unique Financial Strategy
Lay on its issuance of prodigious amounts of stock and convertible debt, and the **tsunami of stock selling by insiders**, and the story gets even wilder. Just last month, the company wowed Wall Street by rolling out its fifth convertible of the year — a **$3 billion, five-year note** with zero percent coupon and a 55 percent conversion premium to a share price that was already trading at nearly three times the **net asset value of its bitcoin holdings**.

### The Genius of Financial Engineering
On paper, it’s genius. The plan is simple: borrow for zero interest with a convertible, buy bitcoin, and pay off the debt when the shares convert at nosebleed prices. As long as the share price stays up — and bitcoin is at least hovering around **$100,000** — we are talking about one of the most successful feats ever of financial engineering.

### Volatility as a Currency
MicroStrategy has essentially created a financial instrument that’s part loan, part **lottery ticket**. Its stock moves like a hyperactive toddler let loose in a candy store, with a current **252-day historic volatility of 106 percent**. The company has effectively engineered its own volatility — and reaped the rewards. This dynamic is self-reinforcing: acquiring more bitcoin amplifies share price volatility, allowing **MicroStrategy** to issue convertible bonds on increasingly favorable terms.

### The Risks Ahead
However, this strategy is not without risks. If the stock calms down, the volatility-driven arbitrage opportunities could vanish, potentially leaving investors nursing losses. Additionally, if bitcoin’s price plummets, the company’s ability to manage up to **$6.2 billion in bond repayments** could be severely challenged.

### Conclusion
MicroStrategy’s bold approach to leveraging volatility has created a seemingly self-perpetuating loop: cheap funding buys bitcoin, which boosts the stock’s volatility, securing even better bond terms for more bitcoin acquisition. As long as the stock keeps zigzagging, the show goes on, but like any high-wire act, there’s always the danger of a fall.

Self-reinforcing market forces are creating demand for Michael Saylor’s ‘lottery ticket’ convertible bonds

Bitcoin's $100K Quest Fuels Crypto Stock Trading Surge on IBKR Platform

Summary:

Bitcoin Approaches $100K

Increased Trading Activity

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Uncovering the Biggest Heist in History: The Shocking True Story Behind Netflix's Documentary

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Trump's $30 Million Crypto Deal: A Controversial Investment from a Fraud-Accused Billionaire

Tech Tycoon from San Francisco Joins Trump Administration: What It Means for the Future

BTC Digital Shares Plunge: What Investors Need to Know About the $20 Million Offering

Trump Appoints Crypto Advocate David Sacks as AI and Cryptocurrency Advisor: What This Means for the Future

MicroStrategy's Bold Strategy: How Volatility Drives Its Bitcoin Quest