Bitcoin at Three-Month Highs & Crypto’s Largest Acquisition Deal To Date

Collective Shift

Join Matt and Nick as they discuss Bitcoin's recent surge and Stripe's alleged $1.1B acquisition of stablecoin company Bridge. They also cover a16z's annual report on the state of crypto, the disappointing launch of World Liberty Financial (WLFI), and more.

Key Takeaways

1. Bitcoin (BTC) hit a three-month high of $69,400 and BTC dominance climbed to its highest level since March 2021 of 58.5%. This latest rally comes as several other traditional assets are posting all-time highs.
2. Payments giant Stripe reportedly acquired stablecoin company Bridge in a $1.1B deal. If true, the acquisition would be the largest in the crypto industry’s history and should fuel further stablecoin growth.
3. a16z crypto published its annual report on the state of crypto, highlighting stablecoin adoption, rising levels of onchain activity, and more.
4. Among the altcoin updates covered: Arbitrum lost its long-held lead as the top Ethereum L2 by total value locked (TVL) and World Liberty Financial’s WLFI token sale disappoints despite its affiliation with Donald Trump and his three sons.