Bitcoin is entering a pivotal 15–20 year phase of dominance, poised to outperform traditional assets as it matures into the most investable macro store of value globally, a top analyst explained. Bitcoin’s Long Arc Is Set—And Almost No Public Asset Will Keep Up Analyst Willy Woo shared an analysis of bitcoin’s growth prospects on Sunday, […]

Bitcoin Poised for 20-Year Outperformance, Says Analyst

Bitcoin&#8217;s rise could trigger selective altcoin growth, reshaping market 
dynamics and emphasizing fundamentals over speculative hype.
The post Bitcoin must break $110K before alt season begins, says Arthur Hayes 
appeared first on Crypto Briefing.

Bitcoin must break $110K before alt season begins, says Arthur Hayes

Japanese investment firm Metaplanet has made its second-largest single Bitcoin 
purchase ever, scooping up more than 1,000 Bitcoin as the cryptocurrency came 
within 3% of its all-time high.
Metaplanet said on May 19 that it purchased 1,004 Bitcoin (BTC) for a total 
cost of around 15.2 billion yen ($104.6 million), bringing its total holdings 
to 7,800 Bitcoin worth around $807 million at current market prices.
It is the second-largest purchase the firm has made following its buy of 1,241 
BTC for $129 million on May 12 in a move that pushed its Bitcoin holdings 
above that of El Salvador.
Metaplanet has the largest Bitcoin holdings of a public company in Asia and 
has the tenth largest holdings among public firms globally, according to BiTBO 
data.
The firm reported a first-quarter BTC Yield of 95.6% and a yield of 47.8% so 
far in the second quarter, which measures the ratio of percentage change in 
Bitcoin holdings per fully diluted share.
If Metaplanet buys another 301 BTC, it would surpass Galaxy Digital Holdings, 
which is in ninth spot with its holdings of 8,100 Bitcoin.
_Metaplanet Bitcoin purchase disclosure. Source:__Metaplanet_
Michael Saylor&#8217;s Strategy remains the clear leader in terms of corporate BTC 
holdings with 568,840 Bitcoin worth around $59 billion.
_**Related:**__**Metaplanet is raising another $21M through bonds to buy more 
Bitcoin**_
Metaplanet has been much more aggressive in its accumulation of the asset in 
recent months, with 2,800 scooped up so far in May. It made four purchases in 
April, totaling 794 BTC, and six purchases in March, totaling 1,655 BTC.
## Saylor hints at another buy
Meanwhile, Michael Saylor has hinted at another Monday purchase by posting a 
screenshot of the Saylor tracker, which follows the firm&#8217;s Bitcoin portfolio, 
on X.
&#8220;Never short a man who buys orange ink by the barrel,&#8221; Saylor said.
Strategy leads the corporate pack with 77% of the growth in Bitcoin holdings 
so far this year, according to BTC investment firm River.
On May 12, River researchers revealed that corporations and businesses are the 
largest net buyers of Bitcoin so far this year, outpacing exchange-traded 
funds, governments, and even retail investors.
_**Magazine:**__**Arthur Hayes $1M Bitcoin tip, altcoins &#8216;powerful rally&#8217; 
looms: Hodler&#8217;s Digest**_

Metaplanet scoops 1,004 Bitcoin in 2nd-biggest buy ever

Coinbase has been hit with a flood of lawsuits after it recently disclosed its 
user data was breached, with users accusing the crypto exchange of mishandling 
the incident.
At least six lawsuits were filed against Coinbase between May 15 and May 16, 
which all made various claims that the exchange failed to keep stringent 
security protocols to protect user data and handled the data breach aftermath 
poorly.
In one of the lawsuits, filed in a New York federal court on May 16, plaintiff 
Paul Bender argued that Coinbase failed to protect the sensitive personal 
information of millions of users during the data breach.
_Users are suing Coinbase, alleging the exchange failed to protect their 
sensitive data. Source: PACER_
Coinbase reported on May 15 that four days earlier it had been hit with a $20 
million extortion attempt after cybercriminals bribed several of its customer 
support agents to access internal systems and steal a limited amount of user 
account data.
The stolen data included names, addresses, phone numbers, emails, the last 
four digits of Social Security numbers, some bank account identifiers, 
driver&#8217;s licenses, passports and some account data, such as balance snapshots 
and transaction history.
Bender claimed that &#8220;Coinbase failed to implement and maintain reasonable 
security safeguards,&#8221; which exposed users to &#8220;serious and ongoing risks.&#8221;
The suit also claimed Coinbase&#8217;s response to the incident was &#8220;inadequate, 
fragmented, and delayed.&#8221;
&#8220;Users were not promptly or fully informed of the compromise, and Coinbase did 
not immediately take meaningful steps to mitigate further harm, provide 
identity protection services, or offer actionable guidance to affected 
individuals,&#8221; the complaint claimed.
The lawsuit claimed users could face &#8220;substantial, immediate, and ongoing 
threat of identity theft and financial fraud&#8221; and that the consequences of the 
breach could be long-term or &#8220;potentially permanent&#8221; because the compromised 
information can&#8217;t be recovered or made secure once exposed.
## Flurry of lawsuits make similar allegations
Two other lawsuits filed in a New York federal court made similar claims 
against Coinbase, while a fourth lawsuit added the allegation of unjust 
enrichment, arguing that Coinbase didn&#8217;t spend enough on data security 
measures.
All four complaints ask for damages and other measures to help protect the 
plaintiff&#8217;s sensitive data.
Meanwhile, a fifth lawsuit filed in a California federal court on May 15 made 
similar claims against Coinbase, but asked the court to order Coinbase to 
purge all sensitive data it holds about the plaintiffs and hire third-party 
security auditors to test its security systems, among other requests.
A Coinbase spokesperson did not comment on the lawsuits and instead pointed 
Cointelegraph to a blog post it shared regarding the data breaches.
Coinbase said it refused to pay the $20 million ransom and has flagged plans 
to reimburse users tricked into sending crypto to phishing scammers due to the 
data breach.
In a filing with the US Securities and Exchange Commission, the exchange said 
it expects reimbursement expenses ranging from $180 million to $400 million.
_**Related:**__**Retired artist loses $2M in crypto to Coinbase 
impersonator**_
The exchange also reportedly fired a group of customer support agents based in 
India following their alleged involvement in social engineering attacks on 
users.
Coinbase (COIN) shares dipped 7% and dropped to $244 after it disclosed the 
data breach along with an ongoing SEC probe over misstated user numbers in 
2021.
The stock has since staged a comeback, spiking 9% and hitting $266 by the 
closing bell on May 16, according to Google Finance.
_Coinbase has climbed even higher following the data breach. Source:__Google 
Finance _ 
_**Magazine:**__**Arthur Hayes $1M Bitcoin tip, altcoins &#8216; powerful rally&#8217; 
looms: Hodler&#8217;s Digest, May 11 &#8211; 17**_

Coinbase hit with wave of lawsuits over customer data breaches

Pyth Network, the decentralized oracle network, is under significant pressure 
just hours ahead of a major token unlock scheduled for Monday, May 19. Pyth 
Network’s (PYTH) price has fallen 7% in the past 24 hours to $0.1449. The 
token has…

Pyth Network dips below mid-band and RSI trends lower as $313M token unlock looms

A recent proposal that aims to change Bitcoin&#8217;s base unit to make it easier to 
understand as a payment tool has run into opposition, with critics saying 
Bitcoin&#8217;s satoshis are no more confusing than the dollar&#8217;s cents.
Bitcoin developer John Carvalho introduced Bitcoin Improvement Proposal-177 on 
April 23, which seeks to eliminate the concept of satoshis, of which there are 
100,000,000 in 1 Bitcoin (BTC), and effectively split Bitcoin&#8217;s fixed supply 
of 21 million into 21 quadrillion units.
It follows a 2017 proposal from Bitcoin developer Jimmy Song to create &#8220;bits,&#8221; 
representing one-millionth of 1 Bitcoin. However, Carvalho said Song&#8217;s 
approach would still require Bitcoin users to think about decimals and &#8220;shifts 
complexity rather than eliminating it.&#8221;
Block Inc. CEO Jack Dorsey is among those calling for the change, saying in a 
May 18 X post that satoshis, or sats, are too confusing for newcomers.
&#8220;Bits of Bitcoin is better, and just Bitcoin is best,&#8221; Dorsey said.
Dorsey pointed to a December 2024 discussion on the topic where Stevie Lee, 
product lead of Bitcoin infrastructure firm Spiral, argued that not enough 
people know or care about what satoshis are.
&#8220;Everyone knows Bitcoin, no one knows sats, people just want to send and 
receive Bitcoin,&#8221; Lee said, recalling past conversations where people thought 
satoshis were an entirely new token, unrelated to Bitcoin.
He added that the Bitcoin community shouldn&#8217;t be too concerned with the 
change, as they know the underlying economics of Bitcoin would remain intact.
_**Related:**__**DOJ charges 12 more gamer-turned $263M Bitcoin robbers**_
Swan Bitcoin CEO Cory Klippsten and Byte Federal director of product Michelle 
Weekley were among those who opposed the change.
&#8220;People understand cents in a dollar, they will understand sats in a Bitcoin,&#8221; 
Weekley said on X.
Magdalena Gronowska, a self-described Bitcoin consultant, claimed that the 
change could make some people think that Bitcoin abruptly crashed from its 
current price of around $100,000 and that its &#8220;supply has massively inflated.&#8221;
_Zaprite business development lead Parker Lewis argued that sats were easier 
to understand. Source:__Parker Lewis_
## Bitcoin creator was open to the idea
Robin Linus, the creator of the Bitcoin Virtual Machine (BitVM), highlighted 
that even Bitcoin&#8217;s pseudonymous creator, Satoshi Nakamoto, was open to 
changing how Bitcoin&#8217;s units are displayed for the purpose of usability.
&#8220;If it gets tiresome working with small numbers, we could change where the 
display shows the decimal point,&#8221; Satoshi said in a February 2010 post before 
vanishing the following year.
&#8220;Same amount of money, just different convention,&#8221; Satoshi added.
_Comment from Satoshi Nakamoto about changing Bitcoin &#8216;s unit base in February 
2010. Source: __Bitcointalk_
The Bitcoin network hasn&#8217;t implemented any improvement proposals since the 
Taproot upgrade in November 2021, which aimed to improve Bitcoin&#8217;s speed, 
efficiency and privacy.
_**Magazine:**__**Danger signs for Bitcoin as retail abandons it to 
institutions: Sky Wee**_