Latest news with #KiYoungJu
Yahoo
3 days ago
- Business
- Yahoo
Michael Saylor 'hacked' US capital markets, claims top analyst
An on-chain analyst, Ki Young Ju, made a post on X that has reignited discussions about MicroStrategy Executive Chairman Michael Saylor's Bitcoin strategy, calling it a methodical "hacking" of U.S. capital market liquidity into the crypto ecosystem. "Saylor hacked the U.S. capital markets and rerouted liquidity into #Bitcoin,' Ju posted on X, referring to MicroStrategy's operations as a perpetual-motion engine that uses volatility. It is receiving a lot of reactions on trading desks and in crypto circles as Bitcoin is emerging toward new all-time highs. Ki Young Ju is the CEO and co-founder of CryptoQuant, one of the top on-chain data analysis companies that provides real-time data and information on cryptocurrency markets. In 2020, MicroStrategy, managed by Saylor, began buying Bitcoin and currently holds approximately 4,020 BTC, making it the largest public company holder of the asset. Although Saylor is no longer CEO, he remains at the forefront of the company's Bitcoin strategy. MicroStrategy has raised this investment through several rounds of convertible debt financing and is treating Bitcoin purchases as a long-term investment within its treasury reserve. Ki Young Ju's remarks followed a recent shift in market sentiment, as institutional and sovereign parties were back focused on digital assets. Saylor's background was very much at the forefront in championing this shift in Bitcoin strategy, providing a template for other companies to adopt Bitcoin-backed investment treasury models. While supporters believe the plan is gutsy and innovative, some critics warn of the risks involved. "It works until the float of stock in the stock loan market dries up and CB desks cannot hedge their day1 delta position to lock in the profit," said Nathan Lee, who has been a Wall Street trader, noting concerns with potential liquidity and hedging issues. Michael Saylor 'hacked' US capital markets, claims top analyst first appeared on TheStreet on May 28, 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Crypto Insight
4 days ago
- Business
- Crypto Insight
MARA's Bitcoin mining revenue hits record $752M as BTC price soars
MARA Holdings, formerly Marathon Digital Holdings, reached a new all-time high in Bitcoin mining revenue, fueled by its recent surge to a record price. The company's annualized mining revenue exceeded $752 million on May 27, according to data from CryptoQuant, making it the most profitable day in the company's history. Marathon is currently the world's largest publicly traded Bitcoin mining firm by market capitalization. 'Quarterly reports are slow. Onchain shows revenue in real time,' CryptoQuant founder and CEO Ki Young Ju wrote in a May 27 X post, confirming the milestone. Marathon's record revenue surge occurred days after Bitcoin rose to a new all-time high of $112,000 on May 22, a development attributed by some analysts to Japanese bond market turbulence, which saw bond yields rise to new highs amid economic turmoil in the country. The revenue surge comes two weeks after MARA's earnings report for Q1, which missed Wall Street estimates by 0.35%. The company's Bitcoin production fell 19% year-over-year, primarily due to the April 2024 Bitcoin halving, which cut block rewards in half from 6.25 to 3.125 BTC. Marathon is the world's largest Bitcoin mining firm with a $5.18 billion market capitalization, according to Companiesmarketcap data. MARA's Bitcoin holdings surpass $5 billion Despite the reduction in production, Marathon has continued to expand its Bitcoin holdings. As of May 27, MARA's Bitcoin holdings were 48,237 BTC worth over $5.28 billion, making the Bitcoin mining company the world's second-largest corporate Bitcoin holder with over 0.23% of the total supply, Bitbo data showed. The top spot still belongs to Strategy (formerly MicroStrategy), which holds over $63 billion in Bitcoin. Despite the revenue surge, daily miner revenues averaged around $50 million, significantly below historic peaks of $80 million, signaling that there is still 'room to climb back to those previous highs,' noted macro researcher and CryptoQuant author Axel Adler, in a May 27 X post. Marathon adopted Bitcoin as a strategic treasury reserve asset in July 2024, when it added $124 million worth of BTC to its balance sheet. Source:
Crypto Insight
12-05-2025
- Business
- Crypto Insight
‘Dark stablecoins' could emerge as regulations tighten
Censorship-resistant 'dark stablecoins' could come in increasing demand as governments tighten their oversight of the industry. Stablecoins have been used for various groups to store assets due to a lack of government interference; however, with regulations pending, that could soon change, Ki Young Ju, CEO of crypto analytics firm CryptoQuant, said in a May 11 X post. 'Soon, any stablecoin issued by a country could face strict govt regulation, similar to traditional banks. Transfers might automatically trigger tax collection through smart contracts, and wallets could be frozen or require paperwork based on government rules,' he said. 'People who used stablecoins for big international transfers might start looking for censorship-resistant dark stablecoins instead.' On the heels of US President Donald Trump's crypto-friendly administration assuming power earlier this year, lawmakers are weighing stablecoin legislation, which seeks to regulate US stablecoins, ensuring their legal use for payments. The European Union has already brought in its Markets in Crypto-Assets (MiCA) regulation, which, among other measures, mandates that stablecoins be regulated and transparent. Ju speculates that a dark or private stablecoin could be created as an algorithmic stablecoin, with the value maintained through algorithmic mechanisms rather than being pegged to an external asset like gold, which makes it susceptible to interference from authorities. 'One possible example could be a decentralized stablecoin that follows the price of regulated coins like USDC using data oracles like Chainlink,' he said. Another way would be stablecoins issued by countries that don't censor financial transactions, or, for example, if Tether chooses not to comply with US government regulations in the future. 'USDT itself used to be considered a censorship-resistant stablecoin. If Tether chooses not to comply with US government regulations under a future Trump administration, it could become a dark stablecoin in an increasingly censored internet economy,' Ju said. Privacy technology in crypto is already being used Zcash and Monero — while they aren't stablecoins —already shield transactions and allow users to send and receive funds without revealing their transaction data on the blockchain. Several projects are also working on using similar technology for stablecoins, such as Zephyr Protocol, a Monero fork that hides transactions from being revealed on the blockchain. PARScoin also hides user identities, transaction values, and links to past transactions. The market cap of US dollar-denominated stablecoins has continued to grow, crossing $230 billion in April, a report from investment banking giant Citigroup found. That's an increase of 54% since last year, with Tether and USDC dominating 90% of the market. Meanwhile, total stablecoin volumes hit $27.6 trillion in 2024, surpassing the combined volumes of Visa and Mastercard by 7.7%. Source:
Yahoo
18-03-2025
- Business
- Yahoo
Bitcoin's Bull Market Cycle Is Over, CryptoQuant's Ki Young Ju Says
The Bitcoin (BTC) bull market is over, according to crypto research firm CryptoQuant's founder Ki Young Ju. Ju posted on X that he is expecting 6-12 months of bearish or sideways price action as the BTC bull run loses steam, citing declining liquidity in the market. "New liquidity is needed. The on-chain realized cap has stalled, signaling no fresh capital inflows. For example, BlackRock's IBIT saw three straight weeks of outflows," he said in a Telegram note to CoinDesk. "Even with record volume near $100K, Bitcoin's price barely moved. Without new liquidity to offset heavy selling, this is a bearish signal." A recent report from CryptoQuant made the case for the possibility of BTC's return to the $63K mark, citing bearish signals from key valuation metrics like the MVRV Ratio Z-score, which compares bitcoin's market value (MV) to its realized value (RV) to identify overbought or oversold conditions. The MVRV Z-score dropping below its 365-day moving average signals that BTC's price momentum has weakened, historically aligning with deeper corrections or the onset of bear markets. The $75K-$78K support level is critical, CryptoQuant analysts noted, as weakening BTC demand, marked by slowing whale accumulation and net selling by U.S.-based spot ETFs, continues to add downward pressure, increasing the risk of a deeper price correction. This echoes what LMAX Group's Joel Kruger and Coinbase Institutional's David Duong recently told CoinDesk, with both warning that sustained weakness in U.S. equities amid economic uncertainty and global tensions could exacerbate bearish pressure on crypto markets, with stagflation also a possibility. Polymarket bettors are giving a 51% chance that BTC ends the week between the $81-$87K range, and a 31% chance it hits $75K by the end of the month. In the last month, bitcoin is down 15%, according to CoinDesk Indices data, with its decline erasing any post-election gains. Sign in to access your portfolio
Yahoo
19-02-2025
- Business
- Yahoo
Bitcoin Can Crash to $77K and Still Be Bullish, Says CryptoQuant CEO
Bitcoin's (BTC-USD) bull market isn't in troublenot even if prices plunge to $77,000, according to CryptoQuant CEO Ki Young Ju. He believes that even a 30% drop from $110,000 to $77,000 wouldn't mean the rally is over. History, he says, backs this up. As of 6:43 AM ET, Bitcoin was trading at $96,268.6, up $630.6 (+0.66%), according to While BTC has struggled to break past the $100,000 mark, Ju isn't worried. I don't think we'll enter a bear market this year, he posted on X (formerly Twitter) on Feb. 19. Pullbacks, he explained, are just part of the game. Bitcoin has seen major corrections in past bull cycles before pushing higher. A dip to $77,000 would still leave it well above the previous cycle's all-time highs, reinforcing its position as a long-term asset. He also pointed out some key support levels that traders are watching. Bitcoin ETF investors in the U.S. have an average cost basis of $89,000, a level that has acted as support since November. If Bitcoin falls below that, the next major level would be $59,000, the break-even point for Binance traders. Bitcoin miners, on the other hand, would start operating at a loss if prices drop to $57,000. Ju noted that previous bear marketsMay 2022, March 2020, and November 2018all started when Bitcoin fell beneath miners' cost bases. For now, though, Bitcoin is far from those danger levels. This article first appeared on GuruFocus.
