In the world of cryptocurrency today, several significant developments unfolded. Michael Saylor, co-founder of MicroStrategy and a staunch Bitcoin advocate, hinted at an imminent Bitcoin acquisition by the company. For ten consecutive weeks, Saylor has posted MicroStrategy’s Bitcoin chart, this time suggesting an upcoming purchase on January 13th. According to the SaylorTracker website, MicroStrategy currently holds 447,470 BTC, valued at an estimated $42 billion, which underscores the company’s substantial unrealized gains and its ambitious approach of financing Bitcoin through debt. This strategy, however, has been met with both praise and criticism from the investment community.
In regulatory news, Singapore has blocked access to Polymarket, a blockchain-based prediction market, as part of its crackdown on unlicensed gambling platforms. Users in Singapore attempting to access Polymarket received warnings under the Gambling Control Act 2022, which enforces hefty fines and possible imprisonment for engaging with unlicensed operators. The Gambling Regulatory Authority, established in August 2022, issued these warnings, emphasizing that Singapore Pools remains the only licensed online gambling operator in the country.
In the United States, the New York Attorney General, Letitia James, has filed a lawsuit to recover over $2 million in cryptocurrency lost to a job scam. Victims were tricked by scammers who promised lucrative remote work opportunities, only to deceive them into purchasing cryptocurrency and subsequently stealing it. The scheme involved text messages luring individuals to create crypto accounts, deposit funds, and engage with fraudulent websites posed as legitimate brands. Despite assurances of refunds and commissions, victims incurred significant financial losses. The Attorney General’s office, in collaboration with the US Secret Service, has frozen the stolen assets and urges vigilance against similar scams.