Bitcoin's recent decline has pushed it towards the critical $60,000 level, raising concerns about potential liquidations in U.S. spot **BTC ETFs**.  **Markus Thielen**, founder of 10x Research, estimates that the average entry price for these ETFs is between $60,000 and $61,000, making a break below this level a trigger for **liquidations**. This is particularly concerning as **institutional investors** haven't yet entered the market in force, despite initial claims from **BlackRock**. Recent **sell-offs** by **miners**, **old wallets**, and **Germany's divestment** of crypto holdings have further amplified downward pressure. Bitcoin's price has **dropped by 14% in four weeks**, trading at $60,200 after dipping below $60,000 earlier Friday morning.

The world's largest crypto has now declined 14% over the past four weeks.

Bitcoin ETF Liquidations Looming as Price Tests $60,000: Analyst

**An Indiana man has admitted to stealing over $37 million in cryptocurrency from nearly 600 victims.** This shocking revelation highlights the growing concerns around **cryptocurrency security** and the need for vigilance among investors. As the digital currency landscape continues to evolve, incidents like this serve as a stark reminder of the **potential risks** associated with investing in cryptocurrencies. With the rise in popularity of digital assets, **scams and thefts** have also escalated, prompting a call for **greater regulatory measures** and **education** for investors to protect themselves from similar frauds.

Indiana Man Confesses to $37 Million Cryptocurrency Heist Affecting Nearly 600 Victims

### BlackRock's Insights on Bitcoin Volatility

BlackRock, the world’s largest asset manager, has recently made headlines by **predicting a continued decline** in Bitcoin's volatility, positioning it as a **stable long-term investment**. During the **Digital Assets Conference**, BlackRock unveiled its findings, emphasizing that Bitcoin's volatility has been steadily decreasing and is expected to continue this trend as **adoption increases** and the asset matures.

![BlackRock Insights](https://static.cryptobriefing.com/wp-content/uploads/2024/08/07081125/BlackRock-2-800x420.png)

### Key Takeaways
- **Bitcoin's Integration**: BlackRock's data indicates that **adding Bitcoin to investment portfolios** can significantly **outperform traditional investments**.
- **Hedge Against Fiat Decline**: The firm highlights Bitcoin's growing role as a hedge against the **decline of fiat currencies**.

At the conference, BlackRock shared that portfolios incorporating Bitcoin showed improved **risk-adjusted returns** across various timeframes. For instance, portfolios with **1%, 3%, or 5% Bitcoin allocations** yielded higher returns over one, two, five, and ten years compared to traditional portfolios.

![Bitcoin Portfolio Impact](https://static.cryptobriefing.com/wp-content/uploads/2024/10/03163602/blackrock-7-scaled.jpeg)

While Bitcoin did introduce slight volatility into these portfolios, the **potential for higher returns** often outweighed the additional risk. A portfolio with a **5% Bitcoin allocation** achieved an impressive **19.1% return** long-term, significantly surpassing the **11% return** from portfolios without Bitcoin exposure.

### Long-Term Holding Benefits
BlackRock emphasized the importance of **long-term holding** for Bitcoin investments. Their analysis revealed that Bitcoin's lowest four-year trailing return remains an impressive **137%**, indicating that holding Bitcoin for three or more years has consistently yielded **positive returns**.

![Volatility Reduction with Time](https://static.cryptobriefing.com/wp-content/uploads/2024/10/03163638/blackrock-8-scaled.jpeg)

Additionally, BlackRock compared Bitcoin to **gold and US Treasuries**, underscoring its **fixed supply**, **decentralized governance**, and **low correlation** with traditional assets, which positions it as a valuable hedge against **declining government trust** and fiat currencies.

BlackRock also acknowledged that, despite Bitcoin's historically elevated volatility, it has been decreasing as the asset matures. The data revealed a **low correlation** with gold (0.1) and the S&P 500 (0.2), highlighting Bitcoin's unique role as an independent asset class.

Lastly, BlackRock positioned Bitcoin as a safeguard against the **declining value of fiat currencies**, particularly the US dollar, which has seen a significant drop since 1913. By offering Bitcoin ETFs, BlackRock is signaling its confidence in Bitcoin's **long-term value** and its increasing significance in financial markets.

BlackRock reveals a steady decrease in Bitcoin volatility, enhancing portfolio returns and establishing it as a reliable asset class.

BlackRock Predicts Bitcoin's Volatility Will Continue to Decline: A New Era for Crypto Investments

Franklin Templeton, a **multi-trillion dollar asset management firm**, has filed for a new **exchange-traded fund (ETF)** that would provide exposure to both **Bitcoin** and **Ethereum**.

### A New Index ETF On The Horizon
The filing, submitted to the **U.S. Securities and Exchange Commission (SEC)**, aims to offer investors a single product that tracks the performance of the two largest cryptocurrencies by market capitalization. This proposed ETF would specifically target **Bitcoin** and **Ethereum**, allowing investors to benefit from the movements of these leading cryptocurrencies.

If approved, the **Franklin Templeton Bitcoin and Ethereum Crypto Index ETF** will be traded on the **Chicago Board Options Exchange (CBOE)**. 

**Bank of New York Mellon**, one of the largest custodians in the U.S., will handle the fund’s cash and cash equivalents, while **Coinbase** will act as the custodian for the Bitcoin and Ethereum tokens within the fund. The fund will be sold in large increments, specifically in blocks of **50,000 shares**. The product's **Net Asset Value (NAV)** will determine the share price, and it will be benchmarked against the **CF Institutional Digital Asset Index**, which tracks market performance for both cryptocurrencies.

![Benzinga Future of Digital Assets Conference](https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif)

### Expanding Franklin Templeton’s Crypto Reach
This filing marks a potential expansion of Franklin Templeton's involvement in the cryptocurrency space. The asset manager already provides clients with exposure to **spot Bitcoin** and **Ethereum ETFs**, highlighting its ongoing interest in broadening its crypto-based offerings. Interestingly, this ETF filing comes shortly after Franklin Templeton announced a collaboration with the **Aptos Foundation** to launch its on-chain U.S. Government Money Market Funds (FOBXX). This product allows investors to access FOBXX through the purchase of the **BENJI** token, showcasing the firm's diversified approach to integrating blockchain technology into traditional finance products.

### BNY Mellon’s Role In The ETF
Bank of New York Mellon is poised to play a significant role in this potential ETF, as the institution will receive its first ETF custody duties following a non-objection letter from the SEC. This regulatory clearance allows BNY Mellon to hold digital assets, with an initial focus on Bitcoin and Ethereum ETFs. While this exemption was granted with certain conditions, SEC Chairman **Gary Gensler** has indicated that BNY Mellon could expand its digital asset custody services if it adheres to specific guidelines.

For those interested in the intersection of traditional finance and digital assets, Benzinga's **Future of Digital Assets** event on November 19 will provide further insights and discussions with industry experts.

Franklin Templeton aims to offer a new index ETF that tracks the performance of Bitcoin and Ethereum, with BNY Mellon as custodian and Coinbase as custodian for the tokens.

Franklin Templeton's Groundbreaking Move: A Dual Bitcoin and Ethereum Index ETF in the Works!

### The Big Reveal
A new **HBO documentary** claims to have **uncovered the identity** of the **pseudonymous creator of Bitcoin**, known as **Satoshi Nakamoto**. This revelation could potentially send **shockwaves** through the cryptocurrency markets and even influence the **U.S. presidential election**, particularly as former President **Donald Trump** has garnered support from Bitcoin enthusiasts.

### About the Documentary
Directed by **Cullen Hoback**, who gained recognition for his series **"Q: Into the Storm"**, the documentary is set to air on **Wednesday at 2 a.m. CET** (Tuesday at 9 p.m. EST).

### Bitcoin's Impact
Since its inception in **2009**, Bitcoin has emerged as a crucial financial phenomenon. It operates on a **decentralized ledger** called the **blockchain**, and serves various purposes:
- A **store of value** for those skeptical of traditional currency.
- A **speculative vehicle** for individuals excluded from conventional financial systems.
- A means of payment for **illegal products and services**.

Supported by influential figures like **Elon Musk**, Bitcoin has evolved into a trillion-dollar asset class, prompting even **central banks** to consider it a competitor.

### Satoshi's Wealth and Mystery
The exposure of Satoshi's identity raises significant questions, particularly regarding his **potential involvement in crimes** facilitated by Bitcoin transactions. Satoshi is estimated to control around **1.1 million Bitcoin**, which could make him one of the world's richest individuals, with a net worth of approximately **$66 billion** if he still has access to the coins.

Interestingly, as the documentary's air date approaches, several high-value wallets from the **"Satoshi era"** have recently become active, with **about 250 bitcoins**—valued at around **$15 million**—being drained from wallets that have been dormant since Bitcoin's early days.

### The Search for Satoshi
Satoshi Nakamoto's identity has been a lingering mystery since the publication of the **Bitcoin white paper** on **October 31, 2008**. Despite numerous attempts to reveal his identity, including high-profile investigations, none have been conclusive. The last public communication from Satoshi was a warning related to **WikiLeaks**.

### Suspects and Community Opinions
Some of the most frequently mentioned suspects include:
- **Hal Finney**
- **Dorian Nakamoto**
- **Nick Szabo**
- **Adam Back**

However, many in the Bitcoin community advocate for Satoshi's right to privacy, arguing that without **proof**—such as a transaction from Satoshi's wallet—claims of identity remain speculative. **Peter McCormack**, a Bitcoin podcaster, emphasized that efforts to unmask Satoshi are irresponsible and could be dangerous.

The revelation could send shockwaves through cryptocurrency markets and beyond.

The Shocking Identity of Bitcoin's Creator Revealed in New HBO Documentary

## The Rise of Linux Malware in Cryptomining

**A new report** has revealed the existence of a Linux malware known as **'perfctl'**, which has been at the center of a **cryptomining campaign** lasting several years. This malware has significantly affected various systems, exploiting vulnerabilities to mine cryptocurrencies without the knowledge of the users.

### What is 'perfctl'?

The **'perfctl' malware** is designed to infiltrate Linux operating systems, allowing attackers to commandeer computing power for **cryptomining**. This malicious software operates stealthily, often remaining undetected while it processes transactions and generates cryptocurrency.

### How Does It Work?

Once installed, **'perfctl'** manipulates system resources to maximize mining efficiency. Its **stealth features** enable it to evade standard security measures, making it a persistent threat within the cryptomining landscape.

### The Implications of This Malware

The presence of **'perfctl'** raises significant concerns regarding the security of Linux systems. Users are urged to ensure their systems are protected against such threats, as the consequences can involve not only financial losses but also severe **system performance degradation**.

### Protecting Yourself Against 'perfctl'

To safeguard against this malware, it is crucial to regularly update your operating system and install robust security measures. **Regular security audits** and monitoring of system performance can help detect any anomalies early on.

This ongoing issue highlights the importance of vigilance in the ever-evolving world of **cryptocurrency** and cybersecurity.

www.bleepingcomputer.com needs to review the security of your connection before proceeding.

Uncovering the Linux Malware 'perfctl': A Hidden Threat in Cryptomining

### **Elon Musk Sounds Alarm on U.S. Bankruptcy**  
Tesla billionaire **Elon Musk** has issued a stark warning that the U.S. could be headed for **bankruptcy** due to its escalating debt situation. Following a staggering **$204 billion** increase in U.S. debt in just one day, Musk's comments have raised eyebrows across the financial world and led some to speculate that this could lead to a significant **surge in Bitcoin prices**.  
  
### **Bitcoin's Recent Price Movements**  
The price of **Bitcoin** has recently dropped to around **$60,000**, erasing much of the gains it had made earlier in the year. This decline coincides with Musk's warning and follows a warning from BlackRock's CEO regarding the **Federal Reserve**.  
  
### **Debt Crisis Intensifies**  
Musk's warning highlights a broader concern about U.S. debt, which has skyrocketed to **$35.669 trillion**. The increase in debt interest payments is projected to hit **$870 billion** this year, exacerbated by the aftermath of inflation and aggressive monetary policies.  
  
### **Potential Bullish Impact on Bitcoin**  
Experts believe that as both political parties fail to adequately address the growing debt crisis, this could create a **bullish environment for Bitcoin**. CK Zheng, from ZX Squared Capital, suggests that the looming U.S. elections might further enhance Bitcoin's appeal as a hedge against traditional financial instability.  
  
### **Geopolitical Tensions and Bitcoin's Role**  
Current geopolitical tensions, particularly in the Middle East, have also affected Bitcoin's price. While Bitcoin is not seen as a safe haven against geopolitical issues like gold, it is increasingly viewed as a hedge against traditional financial risks, such as bank failures and U.S. Treasury sustainability.  
  
![Elon Musk and Bitcoin](https://specials-images.forbesimg.com/imageserve/66fe54c021decb0f2a5dc632/Elon-Musk--Tesla--bitcoin--bitcoin-price--crypto--U-S--dollar--image/960x0.jpg?cropX1=39&cropX2=2252&cropY1=132&cropY2=1602)  
  
As the situation unfolds, many are left wondering how these developments will impact the price of Bitcoin in the coming months.

Tesla billionaire Elon Musk has warned the U.S.'s could collapse into "bankruptcy" due to its debt spiraling out of control—something some think could turbo-charge the bitcoin price...

Elon Musk's $35 Trillion Bankruptcy Warning: Is a Bitcoin Price Surge on the Horizon?

![Metaplanet adds BTC holdings after put options sale with QCP Capital](https://crypto.news/app/uploads/2024/01/crypto-news-trading-chart-front-side-view-Exchange-building-background-bright-neon-colors-option06.webp)

Japanese investment firm **Metaplanet** has recently acquired **23.97 Bitcoin** through an options transaction with **QCP Capital**, a digital asset trading firm based in Singapore. This acquisition brings Metaplanet's total Bitcoin holdings to **530.72 BTC**.

In a notice dated **October 3**, Metaplanet disclosed that it sold **223 put options** contracts valued at **$62,000**, which are set to expire on **December 27, 2024**. This transaction yielded a profit of **23.97 BTC** in option premiums recognized as revenue.

> “This transaction allows the company to capitalize on Bitcoin’s volatility by generating premium income while maintaining a fully cash-secured position,” stated the company.

With this latest acquisition, Metaplanet's Bitcoin assets, which include a previous purchase worth **$6.94 million**, now total approximately **$32.55 million** as of October 3. By selling these put options, the company positions itself to increase its Bitcoin holdings should the market price fall below **$62,000** at maturity.

> “This strategy not only enhances the company’s Bitcoin reserves but also reinforces its balance sheet, aligning with our ongoing financial strategy to strengthen long-term Bitcoin exposure,” Metaplanet added.

Since the depreciation of the **Japanese yen** in May **2024**, Metaplanet has actively expanded its Bitcoin holdings to mitigate economic challenges. The firm has invested a total of **4.96 billion yen**, including **¥215 million** from the latest options sale.

In addition to boosting its Bitcoin reserves, Metaplanet plans to raise **$70 million** through stock rights offerings, committing over **80%** of the funds to its Bitcoin strategy. This reflects a growing trend among Japanese investment managers, as indicated by a **June survey** conducted by **Nomura**.

Furthermore, following Japan's recent election of new Prime Minister **Shigeru Ishiba**, who has outlined a pro-blockchain strategy, Metaplanet's initiatives align with a broader interest in cryptocurrency investments within the country.

Metaplanet acquired 23.97 Bitcoin from an options transaction with QCP Capital, a Singapore-based digital asset trading firm, bringing Metaplanet's total Bitcoin revenue at 530.72 BTC

Bitcoin ETF Liquidations Looming as Price Tests $60,000: Analyst

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Other Latest News

Indiana Man Confesses to $37 Million Cryptocurrency Heist Affecting Nearly 600 Victims

BlackRock Predicts Bitcoin's Volatility Will Continue to Decline: A New Era for Crypto Investments

Franklin Templeton's Groundbreaking Move: A Dual Bitcoin and Ethereum Index ETF in the Works!

The Shocking Identity of Bitcoin's Creator Revealed in New HBO Documentary

Uncovering the Linux Malware 'perfctl': A Hidden Threat in Cryptomining

Elon Musk's $35 Trillion Bankruptcy Warning: Is a Bitcoin Price Surge on the Horizon?

Metaplanet Expands Bitcoin Holdings with Strategic Options Deal

Other Latest News

Indiana Man Confesses to $37 Million Cryptocurrency Heist Affecting Nearly 600 Victims

BlackRock Predicts Bitcoin's Volatility Will Continue to Decline: A New Era for Crypto Investments

Franklin Templeton's Groundbreaking Move: A Dual Bitcoin and Ethereum Index ETF in the Works!

The Shocking Identity of Bitcoin's Creator Revealed in New HBO Documentary

Uncovering the Linux Malware 'perfctl': A Hidden Threat in Cryptomining

Elon Musk's $35 Trillion Bankruptcy Warning: Is a Bitcoin Price Surge on the Horizon?

Metaplanet Expands Bitcoin Holdings with Strategic Options Deal