Weekly Crypto News: Bitcoin, Microstrategy, Ripple, And More

Bitcoin had a bumpy week, with its price hovering around €52,000. The market reacted to new inflation data from the U.S., causing a slight dip as traders sold off some of their holdings. Despite the drop, Bitcoin managed to recover slightly, reaching a weekly high of around €54,600 on Saturday, crossing the $60,000 mark. However, uncertainty remains as investors wait for further economic updates.

Bitcoin ETFs saw a positive shift last week. After a rough period, these investment products received $403.9 million in new inflows, signaling renewed interest from investors. This marked a break from the recent downward trend, with multiple green days in a row. While the market remains uncertain, this increase in ETF activity suggests growing confidence in Bitcoin’s future potential.

Business intelligence firm MicroStrategy, led by Michael Saylor, continued its aggressive Bitcoin strategy, purchasing an additional 18,300 BTC for $1.11 billion last week. This brings MicroStrategy's total Bitcoin holdings to 244,800 BTC, valued at around $14.7 billion, giving the company a profit of over $5.27 billion on its Bitcoin investments so far.

This latest purchase highlights MicroStrategy's strong belief in Bitcoin’s future potential, as the company remains one of the largest corporate holders of the cryptocurrency.

In a move that gives more investors access to XRP, Grayscale Investments launched its XRP Trust - just a month after the final ruling in the Ripple vs. SEC case. This trust allows accredited investors to gain exposure to XRP, similar to how Grayscale’s Bitcoin and Ethereum funds work.

The launch of the XRP Trust is the first step in what could become a full-fledged XRP ETF, following the same process Grayscale used for its Bitcoin and Ethereum ETFs.