Crypto Compass by BitcoinWalletSG #115

Hello Fam,

This past week, markets braced for volatility ahead of “Liberation Day” on April 2, when President Trump’s sweeping reciprocal tariffs are set to kick in. Concerns over rising inflation and slowing global trade triggered sharp pullbacks across tech stocks and crypto, with Bitcoin dipping below $82K. While some U.S. indices managed to recover mid-week, investor sentiment remains cautious as economic uncertainty looms.

Despite the shaky macro backdrop, corporate adoption of Bitcoin continues to grow. MicroStrategy led the charge with a massive $1.9B Bitcoin purchase, while GameStop and Metaplanet also moved to add BTC to their balance sheets. In turbulent times, more companies are looking to crypto as a hedge and long-term strategic asset.

Companies Double Down on Bitcoin as Corporate Accumulation Surges

The wave of corporate Bitcoin adoption intensified last week, with several firms making significant moves to grow their crypto treasury. Strategy (formerly MicroStrategy) led the charge, acquiring 22,048 BTC for $1.92 billion, bringing its total stash to 528,185 BTC—over 2% of all Bitcoin in circulation. Marathon Holdings (MARA) announced plans to raise up to $2 billion through stock sales to expand its 46,374 BTC reserve. Meanwhile, Japan’s Metaplanet raised 2 billion yen via zero-coupon bonds to fund further Bitcoin buys, boosting its total to 3,200 BTC. Analysts believe this trend is just the beginning, forecasting that by 2030, 25% of S&P 500 companies may hold Bitcoin on their balance sheets.

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Bitcoin Dips Below $82K as ‘Liberation Day’ Tariff Fears Rattle Markets

Bitcoin slid below the $82,000 mark this week, dropping over 7% from its March 25 peak of $88,400. The decline is largely attributed to investor anxiety surrounding former President Trump’s upcoming “Liberation Day” on April 2, where he is expected to announce sweeping new tariffs. These macroeconomic uncertainties have triggered risk-off sentiment across markets, impacting both crypto and traditional equities.

Global markets mirrored Bitcoin’s weakness, with the S&P 500, Nasdaq, and Dow Jones all posting losses. Adding to the caution, Goldman Sachs raised its U.S. recession probability to 35%, citing inflation pressures and rising geopolitical risks. With Bitcoin continuing to behave like a risk asset, all eyes are on how “Liberation Day” will impact market direction in the days ahead.

Trump Pardons BitMEX Co-Founders Amid Crypto Regulatory Optimism​

In a significant move for the cryptocurrency industry, President Donald Trump has granted full and unconditional pardons to the three co-founders of BitMEX—Benjamin Delo, Arthur Hayes, and Samuel Reed. These individuals had pleaded guilty in 2022 to charges related to failing to implement a Bank Secrecy Act-compliant anti-money laundering program. Additionally, former BitMEX employee Gregory Dwyer and the entity owning the exchange received pardons. This decision aligns with the administration's supportive stance toward the crypto sector, fostering optimism for looser financial regulations.​

Happenings of the week

• Bitcoin could reduce dominance of US dollar — BlackRock

• Ethereum price down almost 50% since Eric Trump's 'add ETH' endorsement

• Potential Bitcoin price fall to $65K ‘irrelevant’ since central bank liquidity is coming — Analyst

• Is Bitcoin price going to crash again?

​Fidelity Investments Explores Launch of Dollar-Pegged Stablecoin​

Fidelity Investments is testing a stablecoin pegged to the U.S. dollar, reflecting mainstream financial institutions' growing interest in cryptocurrencies. Stablecoins, designed to maintain a constant value, have seen rapid adoption, with approximately $239 billion in circulation. Fidelity's digital asset division is currently evaluating the stablecoin but has no immediate plans for its public release. This initiative aligns with broader industry trends, including President Donald Trump's supportive stance on crypto and the recent announcement by World Liberty Financial to launch its own dollar-pegged stablecoin backed by U.S. Treasuries and cash equivalents.

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