{"id":16493,"date":"2025-04-02T15:54:07","date_gmt":"2025-04-02T15:54:07","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/04\/02\/crypto-market-recap-sen-ted-cruz-backs-bitcoin-mining-with-flare-act-sony-singapore-accepts-usdc\/"},"modified":"2025-04-02T15:54:07","modified_gmt":"2025-04-02T15:54:07","slug":"crypto-market-recap-sen-ted-cruz-backs-bitcoin-mining-with-flare-act-sony-singapore-accepts-usdc","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/04\/02\/crypto-market-recap-sen-ted-cruz-backs-bitcoin-mining-with-flare-act-sony-singapore-accepts-usdc\/","title":{"rendered":"Crypto Market Recap: Sen. Ted Cruz Backs Bitcoin Mining with FLARE Act, Sony Singapore Accepts USDC"},"content":{"rendered":"<\/p>\n

Here\u2019s a quick recap of the crypto landscape for Monday (March 31) as of 9:00 p.m. UTC.<\/strong><\/p>\n

\n

Bitcoin and Ethereum price update <\/h3>\n

At the time of this writing, Bitcoin (BTC) <\/strong>was changing hands at US$82,583.58. The day\u2019s range has brought a low of US$81,709.73 and a high of US$83,757.45.<\/p>\n<\/div>\n

<\/small><\/p>\n

Bitcoin performance, March 31, 2025. <\/em><\/p>\n

<\/small><\/p>\n

Chart via TradingView.<\/em><\/p>\n

The cryptocurrency is staging a modest recovery ahead of US President Donald Trump\u2019s sweeping tariffs policy, which is set to go into effect on Wednesday (April 2). <\/p>\n

Ethereum (ETH)<\/strong> is priced at US$1,828.36, a 0.7 percent increase over 24 hours. The cryptocurrency reached an intraday low of US$1,802.46 and a high of US$1,848.44.<\/p>\n<\/div>\n

\n

Altcoin price update <\/h3>\n

Solana (SOL)<\/strong> is currently valued at US$125.35, down 0.3 percent over the past 24 hours. SOL experienced a low of US$123.65 and a high of US$127.50 on Monday.<\/p>\n

XRP<\/strong> is trading at US$2.09, reflecting a 2.2 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday low of US$2.07 and a high of US$2.13.<\/p>\n

<\/span>Sui (SUI) <\/strong>is priced at US$2.27, showing a 3.4 percent decrease over the past 24 hours. It achieved a daily low of US$2.20 and a high of US$2.30.<\/p>\n

<\/span>Cardano (ADA)<\/strong> is trading at US$0.6555, reflecting a 1.7 percent decrease over the past 24 hours. Its lowest price on Friday was US$0.6379, with a high of US$0.6637.<\/p>\n<\/div>\n

\n

Crypto news to know <\/h3>\n

<\/h4>\n

Saylor\u2019s Strategy adds to Bitcoin holdings<\/h4>\n

<\/span>Strategy (NASDAQ:MSTR), formerly MicroStrategy, added to its Bitcoin stockpile over the weekend with a purchase of 22,048 Bitcoin for US$1.92 billion, an average price of US$86,969 per Bitcoin. <\/p>\n

According to a post from CEO Michael Saylor, the company had seen an 11 percent increase in the overall value of its Bitcoin holdings year-to-date as of March 30 (Sunday). The company\u2019s Bitcoin holdings now total 528,185 Bitcoin, acquired for US$35.63 billion at an average price of US$67,458 each. <\/p>\n

Metaplanet issues bonds to buy Bitcoin<\/h4>\n

<\/span>Taking a page from Strategy\u2019s playbook, Metaplanet (OTCQX:MTPLF,TSE:3350), a Japanese investment and asset management firm focused on real estate and technology ventures, has issued 2 billion yen in convertible bonds redeemable by September 30, 2025, aiming to capitalize on Bitcoin\u2019s price decline. <\/p>\n

Metaplanet is Asia\u2019s largest corporate Bitcoin holder, with roughly 3,200 Bitcoin in its reserves worth approximately US$1.23 billion. The company\u2019s CEO, Simon Gerovich, wrote on Monday that the firm is taking advantage of Bitcoin\u2019s recent downturn, with proceeds from the sale earmarked for further Bitcoin purchases. <\/p>\n

According to data from BitBo, an additional acquisition would mark the firm\u2019s fourth Bitcoin purchase this month. Metaplanet acquired 497 Bitcoin on March 4, 162 Bitcoin on March 11 and 300 Bitcoin on March 24. <\/p>\n

Hut 8 and American Bitcoin announce partnership<\/h4>\n

Hut 8 (NASDAQ:HUT), a Bitcoin-mining and digital infrastructure company, announced a deal with American Bitcoin on Monday. Under the terms of the agreement, American Bitcoin, a firm founded by a group of investors that includes Donald Trump Jr. and Eric Trump, will take ownership of Hut 8\u2019s Bitcoin-mining hardware.<\/p>\n

The partnership will form a new subsidiary \u201cfocused exclusively on industrial-scale Bitcoin mining and strategic Bitcoin reserve development,\u201d with Hut 8 controlling a majority stake. <\/p>\n

\u201cThe launch of American Bitcoin marks a pivotal evolution in our platform strategy,\u201d said Asher Genoot, CEO of Hut 8, in a press release. \u201cBy carving out our mining business into a standalone entity, which will raise its own capital, we align each segment of the business with its respective cost of capital. The transaction creates two focused yet complementary businesses, each purpose-built for its respective mandate.\u201d <\/p>\n<\/div>\n

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/strong><\/p>\n

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Here\u2019s a quick recap of the crypto landscape for Monday (March 31) as of 9:00 p.m. UTC. Bitcoin and Ethereum price update At the time of this writing, Bitcoin (BTC) was changing hands at US$82,583.58. The day\u2019s range has brought a low of US$81,709.73 and a high of US$83,757.45. Bitcoin performance, March 31, 2025. Chart […]<\/p>\n","protected":false},"author":0,"featured_media":16494,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-16493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/16493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=16493"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/16493\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/16494"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=16493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=16493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=16493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}