Bitcoin News: Dormant Whale’s Massive BTC Transfer Sparks Debate on Future Price Direction

In a significant development in the cryptocurrency world, a dormant Bitcoin whale has made a substantial transfer after eight years of inactivity, stirring up conversations about Bitcoin’s future price trajectory.

Old Bitcoin Whale Transfers $250 Million Worth of BTC After 8 Years

A dormant Bitcoin whale has resurfaced after eight years, transferring 3,000 BTC worth approximately $250 million. The whale’s stash grew from $3 million in 2017 to the present levels. This transfer has sparked heated debates on the asset’s direction in the coming weeks. Data from blockchain analytics firm Arkham Intelligence shows the transaction. Ancient whales typically become active after a major price uptick to maximize gains, and these fund movements can influence other whales depending on the dominant market sentiment.

How a Shipping Container and Bitcoin Saved a Struggling African Hydro Project

In the remote Ikelenge district of northwestern Zambia, a small hydroelectric plant has been producing more electricity than its surrounding villages could use. Built in the early 2010s with $3 million in charitable funding, the 1-megawatt Zengamina facility was never intended to generate profit. However, with the help of Bitcoin mining, this unused hydropower could become a lifeline for local economic revival. Gridless rigs, which are plug-and-play fixes, offer a solution to harness this excess energy. While there is a fine line between boosting the local economy and becoming a burden, this model has the potential to scale and bring economic benefits to the region.

Bernstein Projects Strategy Could Own Over 1 Million BTC by 2033

Bernstein analysts have projected that Strategy, previously known as MicroStrategy, could amass more than 1 million Bitcoin (BTC) by 2033 in a bullish market cycle. According to a research note cited by Benzinga on March 26, the projection outlines two scenarios for the company’s BTC holdings. In the optimistic scenario, Strategy would expand its holdings from the current 506,137 BTC to 1,013,000 BTC, assuming Bitcoin climbs to $200,000 by late 2025, $500,000 by 2029, and hits $1 million by 2033. To fund this accumulation, Strategy would likely rely on continued access to capital markets, potentially increasing its total debt tenfold to $100 billion.

Institutional Investors Flip 5-Week Outflows, Is A Major Bitcoin Uptick on The Horizon?

The crypto market recorded slight gains after weeks of sideways readings. Institutional investors headed the rebound in Bitcoin (BTC), pouring $724 million into Bitcoin funds. This flipped consecutive five-week outflows due to wider bearish sentiments. As a result, the total market cap rose 1% to $2.8 trillion, with trading volumes marking sharp double-digit gains. The data from CoinShares Digital Asset Weekly Flow showed that while total monthly numbers remained over $1 billion in the red zone, year-to-date net inflows stood at $1.3 billion. Bitcoin reclaimed its position as the center for most wealth managers.

GameStop Raising $1.3B of Convertible Debt for Bitcoin Purchases

GameStop (GME), led by CEO Ryan Cohen, is raising $1.3 billion through convertible senior notes with a five-year maturity to fund general corporate purposes, including the acquisition of Bitcoin (BTC). The underwriter greenshoe option allows for an additional $200 million to be raised. GameStop joins other firms such as Michael Saylor-led MicroStrategy (MSTR) in adopting a Bitcoin treasury strategy.