{"id":1182,"date":"2025-05-05T15:59:46","date_gmt":"2025-05-05T15:59:46","guid":{"rendered":"https:\/\/globalinvestmentpulse.com\/index.php\/2025\/05\/05\/crypto-market-recap-saylor-buys-us180m-btc-haul-arizona-says-no-to-bitcoin\/"},"modified":"2025-05-05T15:59:46","modified_gmt":"2025-05-05T15:59:46","slug":"crypto-market-recap-saylor-buys-us180m-btc-haul-arizona-says-no-to-bitcoin","status":"publish","type":"post","link":"https:\/\/globalinvestmentpulse.com\/index.php\/2025\/05\/05\/crypto-market-recap-saylor-buys-us180m-btc-haul-arizona-says-no-to-bitcoin\/","title":{"rendered":"Crypto Market Recap: Saylor Buys US$180M BTC Haul, Arizona Says No to Bitcoin"},"content":{"rendered":"<\/p>\n
\n

Here’s a quick recap of the crypto landscape for Friday (May 2) as of 9:00 p.m. UTC.<\/strong><\/p>\n

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.<\/p>\n<\/p>\n

\n

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

Bitcoin (BTC) <\/strong>was priced at US$96,855.98 as markets wrapped for the day, up 0.5 percent in 24 hours. The day’s range has seen a low of US$96,855.69 and a high of US$97,281.99.<\/p>\n<\/div>\n

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

Bitcoin performance, May 2, 2025.<\/em><\/p>\n

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

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

Bitcoin network economist Timothy Peterson suggests that Bitcoin could reach a new all-time high, potentially reaching US$135,000 in the event of a short squeeze in the next 100 days. <\/p>\n

His broader outlook is partly based on low market volatility, indicating risk appetite. <\/p>\n

Ethereum (ETH) <\/strong>ended the day at US$1,839.38, a 0.5 percent decrease over the past 24 hours. The cryptocurrency reached an intraday low of US$1,834 and reached its daily high of US$1,865.38.<\/p>\n<\/div>\n

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Altcoin price update <\/h3>\n
    \n
  • Solana (SOL)<\/strong> ended the day valued at US$148.08, down 1.4 percent over 24 hours. SOL experienced a low of US$147.97 and peaked at $151.55.<\/li>\n<\/ul>\n
      \n
    • XRP<\/strong> traded at US$2.21, reflecting a 0.6 percent decrease over 24 hours. The cryptocurrency recorded an intraday low of US$2.20 and reached its highest point at US$2.24.<\/li>\n<\/ul>\n
        \n
      • <\/span>Sui (SUI)<\/strong> was priced at US$3.42, showing a decrease<\/em>of 6.7 percent over the past 24 hours. It achieved a daily low of US$3.41 and a high of US$3.49. <\/li>\n<\/ul>\n
          \n
        • <\/span>Cardano (ADA)<\/strong> was trading at US$0.6913, down 1.9 percent over the past 24 hours, and its lowest price of the day. It reached a high of US$0.7149. <\/li>\n<\/ul>\n<\/div>\n
          \n

          Today’s crypto news to know <\/h3>\n

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          Trump-backed stablecoin triggers US$2 Billion UAE deal<\/h4>\n

          MGX, a United Arab Emirates (UAE) investment firm tied to Abu Dhabi\u2019s sovereign wealth fund, has committed to a US$2 billion investment in Binance \u2014 and it\u2019s doing so using \u201cUSD1,\u201d a stablecoin controlled by the Trump family.<\/p>\n<\/div>\n

          <\/div>\n
          \n

          The coin was developed by World Liberty Financial, a company where Trump is listed as \u201cchief crypto advocate\u201d and his sons serve as \u201cWeb3 ambassadors.\u201d The token, launched shortly after Trump\u2019s re-election, has already sold over US$550 million worth of coins \u2014 much of it after November. <\/p>\n

          The deal was announced in Dubai by Zach Witkoff, son of Trump\u2019s former envoy to the Middle East, who appeared on stage with Eric Trump. Democrats have accused the move of being a front for corruption, with Senator Elizabeth Warren calling it \u201ca shady deal backed by a foreign government.\u201d<\/p>\n

          With Trump set to visit the UAE and Saudi Arabia in two weeks, critics say the overlap between his private interests and foreign diplomacy has never been more naked.<\/p>\n

          Strategy doubles down on Bitcoin with fresh US$21 billion raise<\/h4>\n

          Michael Saylor\u2019s Strategy (NASDAQ:MSTR) reported a US$16.5 billion quarterly loss and a massive US$5.9 billion writedown on its Bitcoin stash \u2014 but that hasn\u2019t slowed its hunger for more. <\/p>\n

          Instead, the firm announced a new US$21 billion stock offering, the proceeds of which will go toward purchasing even more Bitcoin. As of April, Strategy held 553,555 BTC acquired at an average cost of US$68,459 \u2014 now worth around US$53 billion at current prices. The company is targeting a 25 percent BTC yield and a US$15 billion gain by the end of the year, signaling a long-term vision despite short-term pain.<\/p>\n

          Morgan Stanley moves toward crypto trading on E*Trade<\/h4>\n

          Morgan Stanley (NYSE:MS) is reportedly gearing up to launch direct crypto trading for users of E*Trade, its retail investment arm, in a major leap toward integrating digital assets with mainstream finance. <\/p>\n

          The bank, which acquired E*Trade in 2020, currently only offers crypto ETF access, but new plans would allow clients to buy and sell actual tokens. Insiders say Morgan Stanley is in talks with multiple crypto-native firms to provide backend infrastructure, signaling a shift from hesitancy to full participation. The move comes just days after the US Federal Reserve scrapped prior crypto-related restrictions, effectively greenlighting banks to enter the space.<\/p>\n

          With more than 5 million active users, E*Trade could become one of the largest onramps into crypto for average investors if the plan moves forward.<\/p>\n

          CIA deputy director discusses Bitcoin’s role in intelligence<\/h4>\n

          During an appearance on Anthony Pompliano\u2019s podcast, Michael Ellis, deputy director of the US Central Intelligence Agency (CIA), said the agency is increasingly incorporating Bitcoin as a tool in its counter-intelligence operations, also noting that working with the cryptocurrency is a matter of national security.<\/p>\n

          \u201cPeople may have thought Bitcoin was anonymous, but I’d say it’s synonymous, and there’s a lot of work that we do with law enforcement to try to track illicit crypto payments by bad actors,\u201d he said. <\/p>\n

          \u201cWhether they’re drug cartels or terrorist groups, outlaw regimes use cryptocurrency,’ Ellis continued. <\/p>\n

          \u201cThere is tremendous potential for law enforcement and the intelligence community to be able to use cryptocurrency to help track what our adversaries are doing to disrupt it.\u201d<\/p>\n

          Coinbase to delist MOVE token<\/h4>\n

          Coinbase Global (NASDAQ:COIN) will halt trading of the Movement Network token (MOVE) starting May 15.<\/p>\n

          In a Thursday (May 1) announcement on X, the exchange said the decision is due to MOVE\u2019s inability to meet its listing requirements. Following this news, the price of MOVE dropped to below US$0.20. <\/p>\n

          Later, Movement Labs confirmed the suspension of co-founder Rushi Manche due to a controversial market maker agreement he facilitated, which led to an external investigation and Coinbase’s delisting.<\/p>\n

          Metaplanet issues bonds to increase Bitcoin holdings<\/h4>\n

          Japan\u2019s Metaplanet (OTCQX:MTPLF,TSE:3350) issued 3.6 billion yen, equivalent to roughly US$25 million, in bonds on Friday, earmarked to buy more Bitcoin. The newly issued bonds, which according to a filing were sold entirely to EVO FUND, carry no interest and can be redeemed at par value by October 31, 2025.<\/p>\n

          Metaplanet has been actively acquiring Bitcoin throughout 2025 and currently holds 5,000 BTC worth over US$485 million following its most recent purchase of 330 BTC on April 20.<\/p>\n

          <\/span><\/h4>\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<\/div>\n

          Keep reading…<\/span>Show less<\/span><\/div>\n<\/p>\n
          This post appeared first on investingnews.com<\/div>\n

          <\/p>\n","protected":false},"excerpt":{"rendered":"

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