World’s largest Bitcoin miner didn’t sell any BTC in June. Marathon Digital said it aims to further strengthen its Bitcoin holdings through open-market acquisitions but may also sell to support operations in the future. Marathon Digital Holdings, the world’s largest Bitcoin mining firm, has not sold any of its Bitcoin holdings during the past month. Despite Bitcoin being in a downtrend for over a month, Marathon Digital chose to hold onto all its Bitcoin. As of June, the company held a total of 18,536 BTC worth over $1.1 billion, according to the firm’s operations report published on July 3. The Bitcoin miner said it aims to continue to strengthen its Bitcoin holdings through open market BTC purchases and investing in “other opportunities to increase its Bitcoin yield.” However, it also noted that it may sell some of its BTC in the future:“MARA opted not to sell any bitcoin in June.

El Salvador’s national Bitcoin chief has been orange-pilling Argentina The head of El Salvador’s new crypto commission started his Bitcoin journey in 2013 and is continuing it to this day.It takes more than 10 hours to fly from El Salvador to Argentina, but Juan Carlos Reyes’ recent flight may be one of the most important of his life. It may also have global significance, not that Reyes can reveal too much about it at the moment. The appointed President of El Salvador’s newly created National Commission of Digital Assets (CNAD), Reyes has just returned from Buenos Aires after high-level meeting with Argentina’s securities regulator, the National Securities Commission. Speaking exclusively to Magazine, he is in a cheery mood albeit diplomatic, when talking of a potential collaboration between the two Bitcoin-friendly countries. “El Salvador multinational projects are set by the president; however our two countries are talking about interesting opportunities and projects for the future.

German Government’s Bitcoin Dump Surpasses $195M As Selling Spree Persists. The German government has recently begun selling millions of dollars worth of Bitcoin (BTC) from a confiscated wallet, further contributing to the lack of catalysts for a price recovery in the cryptocurrency market. The move comes as increased selling activity and unprecedented selling by long-term BTC whales have led to a sharp price correction, preventing Bitcoin from consolidating above $70,000 and retesting its previous all-time high. According to blockchain analysis platform Arkham, the German government has initiated the process of selling Bitcoin on cryptocurrency exchanges. During Thursday’s morning trading session, $65 million worth of BTC was sent to two likely exchange deposits, including Coinbase.

Bitcoin Price Faces Pressure as Mt. Gox Begins $9.4B Repayment. Bitcoin (BTC), the world’s leading cryptocurrency has come under intense scrutiny as Mt.Gox commences a $9.4 billion repayment to investors. According to reports, 137,890 BTC coins were moved out of wallets belonging to Mt.Gox to creditors.The movement of the large amount of BTC raises concerns about a potential sell-off that could drive down the price of Bitcoin. As a reminder, Mt.Gox was one of the largest Bitcoin exchanges before it was hacked in 2014. Following reports from Crypto News Flash, the exchange processed 70% of all Bitcoin transactions worldwide at the time. Following the hack, it reported 840,000 BTC in stolen funds.

Salvadoran Government Introduces Bitcoin Banking Law Reform. Bitcoin adoption is set to experience a new boom in El Salvador. The Salvadoran government has introduced an initiative to reform the current banking law by introducing a new kind of bank that can lend bitcoin and crypto services.The banking bill reform was presented to the Technology, Tourism, and Investment Commission of the National Assembly on June 13 including 14 new articles that define Private Investment Banks (PIB) as “an essential instrument at the international level that promotes economic development and facilitates the channeling of financial resources towards business and government projects.”

A board member of the Bitcoin Voter Project described the group as nonpartisan and planned to take a different approach than initiatives like Stand With Crypto.Three executives representing some of the largest cryptocurrency mining companies in the United States have helped launch a nonprofit organization to educate voters on Bitcoin. Jayson Browder, the senior vice president of government affairs at mining firm Marathon Digital Holdings, told Cointelegraph that he and two executives from Riot Platforms and CleanSpark formed the board members of the Bitcoin Voter Project. Browder said the group was registered as a 501(c)(4) in the United States.In contrast to a political action committee (PAC), organizations registered under a 501(c)(4) cannot primarily support one candidate or political party. The launch of the voting project came less than 24 hours after different representatives from Marathon, CleanSpark, TeraWulf and Riot met with former U.S.

Bitcoin Runes outperforms BRC-20 in onchain activity. Since April 2024, Runes have led Bitcoin network activity, outpacing both Ordinals and BRC-20 in transaction share. While Bitcoin takes up the lion’s share of its blockchain network most days, a clear winner has emerged from the bandwidth war between the Bitcoin standards — Ordinals, BRC-20 and Runes.Onchain activity is a good indicator of real-time market demand and overall community interest. Since its launch on April 20, Runes, a standard for creating fungible tokens on Bitcoin (BTC), has dethroned the long-standing Ordinals and BRC-20 standards in terms of transaction share. *Share of transactions of different Bitcoin standards. Source: Dune Analytics*

Bitcoin ETFs sucked up 2 months of BTC mining supply in first week of JuneIn the first full trading week of June, U.S. Bitcoin ETFs acquired almost as much Bitcoin as they did in the entire month of May. Spot Bitcoin exchange-traded funds (ETFs) in the United States acquired the equivalent of around two months’ worth of the cryptocurrency’s mining supply in the first week of June. With inflows of approximately $1.83 billion, the 11 ETFs bought 25,729 Bitcoin BTCtickers down$69,331 in the trading week between June 3 and 7 — around eight times more than the 3,150 new BTC mined over the same time, according to data from HODL15Capital.The amount of Bitcoin acquired in the week alone was almost as much as the entire of May, 29,592 BTC, per HODL15Capital’s count, and is the biggest week of buying since mid-March when Bitcoin hit its current all-time high of $73,679.