Today’s edition of the weekly recap includes top headlines of Do Kwon, 
Razzlekhan&#8217;s new music video, Bitcoin&#8217;s price slump, Bhutan&#8217;s crypto reserve, 
and other trending news items. Do Kwon trial date set for early 2026 Mango 
Markets announces closure Will Meta…

NFT market defies crypto dip, Do Kwon trial date set, North Dakota eyes Bitcoin | Weekly Recap

According to the SaylorTracker website, MicroStrategy&#8217;s Bitcoin holdings are 
up around 51%, with unrealized gains of over $14 billion.

Michael Saylor posts Bitcoin tracker for the 10th consecutive week

Jeremie Davinci, a prominent player in the cryptocurrency domain, has garnered 
attention with his audacious forecast that Bitcoin may attain an extraordinary 
value of $350,000. This forecast, lately disseminated on social media, is 
predicated on historical trends and the present dynamics of Bitcoin mining 
expenses. Related Reading: $7,000 Ethereum In Sight? Expert Breaks Down The 
Potential Path The current expense for miners to generate one Bitcoin is 
approximately $70,000. Davinci indicates that historically, under positive 
market conditions, Bitcoin has frequently surpassed its mining cost by a ratio 
of five. This association indicates that, if historical trends persist, a 
price of $350,000 is feasible. The Cost Factor Of Mining The basis of 
Davinci&#8217;s approach is the relationship between mining costs and market price 
of Bitcoin. The mining process requires electricity and advanced technology 
among other resources. These costs build the basis for Bitcoin&#8217;s value as they 
rise. Currently spending over $70,000 to extract one BTC, miners may open the 
path for significant price increases in the future, claims Davinci. It costs 
miners about $70k to produce 1 #Bitcoin now, less with better hardware or 
cheap energy. In past bull markets, Bitcoin’s price has hit over 5x the mining 
cost. Huge potential ahead! — Davinci Jeremie (@Davincij15) January 11, 2025 
He underscores that this forecast lacks a defined timescale and instead 
embodies an optimistic perspective grounded in historical performance. He 
asserted, &#8220;Significant potential lies ahead!&#8221; in reference to Bitcoin&#8217;s future 
price trajectory. Bitcoin: Institutional Impact And Market Forces Davinci&#8217;s 
prognosis is set against a landscape of growing institutional interest in 
Bitcoin. Prominent corporations have commenced the acquisition of substantial 
quantities of BTC, indicating assurance in its long-term growth prospects. 
Companies such as BlackRock and MicroStrategy have made substantial 
investments in Bitcoin, contributing to the optimistic feeling around the 
cryptocurrency. In addition, the recent halving event in April 2024 cut the 
block payment for miners to 3.125 BTC. This made it harder for new coins to 
enter the market. Around 19.9 million Bitcoins have already been mined, 
leaving less than 2 million to be made. This could cause prices to rise as 
long as people want them. A Prudent Optimism Although Davinci&#8217;s projection is 
undeniably ambitious, it is crucial to regard such forecasts with prudence. 
The bitcoin market is famously unstable and can undergo significant 
fluctuations in value. Analysts have observed that although Bitcoin may 
realize considerable increases over time, it has also had huge corrections in 
previous cycles. Related Reading: Bitcoin To Challenge Gold: Expert Sees US 
Taking The Lead As we approach 2025 and beyond, numerous investors are closely 
observing how these dynamics will develop. The interplay between mining 
expenses, institutional acceptance, and market mood will be a major 
determining factor in ascertaining the feasibility of Davinci&#8217;s prediction. 
Bold predictions like Jeremie Davinci&#8217;s are being debated as the crypto market 
continues to evolve. His forecast of Bitcoin reaching $350,000 reflects both 
reliance on historical trends and a sense of optimism. Featured image from 
Reuters, chart from TradingView

Bitcoin To $350,000? Top Crypto Influencer Makes Bold Prediction

On Jan.9, the Cardano Foundation and FC Barcelona announced a partnership as 
part of the Barça Vision program, aimed at modernizing the club&#8217;s interaction 
with supporters. This collaboration leverages shared values of community 
participation and decentralized governance. The program focuses on three key 
areas: creating job opportunities for young supporters, providing blockchain 
technology training, and […]

Cardano and FC Barcelona Partner to Empower Fans With Blockchain

PRESS RELEASE. The blockchain world is gaining a revolutionary new player, and 
it’s set to transform the way we view both Ethereum and artificial 
intelligence. Meet Lightchain AI, a groundbreaking project that blends 
Ethereum’s powerful decentralized ecosystem with cutting-edge AI technology. 
Launching near the end of January, Lightchain AI is paving the way for a […]

Cryptocurrency price in AUD