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Crypto Writer
Arslan Butt
Crypto Writer
Arslan Butt
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As Bitcoin briefly hits $93,000, Hyla’s move underscores rising interest in crypto’s transformative potential. Hyla Fund Management is launching a $30 million fund to support Latin America’s growing cryptocurrency sector, aiming to enhance financial access and remittance solutions in the region.
Led by CEO Paola Origel, the fund seeks to identify high-potential projects, capitalizing on the region’s digital finance needs.
Hyla Fund Targets Latin America’s Crypto Potential with $30M Fund
Hyla Fund Management, led by CEO Paola Origel, is set to launch a $30 million cryptocurrency investment fund in January 2025, aimed at fueling Latin America’s burgeoning digital asset market.
Originally from Mexico, Origel sees vast potential in the region, particularly for improving financial access and remittance solutions in underserved communities.
The fund seeks to become the “Goldman Sachs for digital assets” by identifying promising cryptocurrency projects that could revolutionize both regional and global markets.
With the Latin American crypto sector gaining traction, Hyla Fund is not just focusing on established cryptocurrencies but is keen on discovering emerging “unicorns” that could transform the digital finance landscape.
“We’re investing in teams that understand the unique needs of this region and have the potential to set global standards,” said Origel in a statement.
Hyla’s investment strategy involves backing local crypto projects and supporting strong management teams that can scale effectively. By increasing demand for Bitcoin and other digital assets in the region, Hyla could contribute to broader adoption and bolster price stability in Latin America.
- Investment Focus: Local crypto projects with regional impact potential
- Leadership: CEO Paola Origel aims to turn Hyla into a digital asset powerhouse
- Launch Date: January 2025, with $30M in initial funding
Trump’s Crypto-Friendly Policies Drive Bitcoin Near $93,000
In parallel, Bitcoin has been on a bullish run, briefly hitting $93,000, a record high fueled by President-elect Donald Trump’s pro-crypto stance.
Trump has promised a regulatory framework conducive to crypto and plans to make the U.S. a global leader in digital assets.
Anticipation of potential Federal Reserve rate cuts has also contributed to Bitcoin’s rise, with many analysts predicting it could soon hit the $100,000 mark.
A tweet from @crypto noted, “Bitcoin’s new all-time high of $93,000 shows the growing confidence in Trump’s crypto policies.” However, Bitcoin’s rally was short-lived, and by mid-morning, it had settled to $89,974 in Singapore trading.
Some analysts warn that despite the optimistic outlook, profit-taking could lead to near-term volatility as markets adjust to evolving policy expectations.
- Record High: Bitcoin briefly touched $93,000 on Trump’s crypto-friendly promises
- Current Price: Stabilized around $89,974 after profit-taking
- Outlook: Analysts eye $100,000, but volatility remains likely
Metaplanet Increases Bitcoin Holdings Amid Stock Decline
Japan’s Metaplanet, a major corporate player in Bitcoin investment, recently boosted its holdings to approximately 1,000 BTC, valued at $28 million. Similar to U.S.-based MicroStrategy, Metaplanet raised capital through loans, bond offerings, and equity sales to expand its Bitcoin reserves.
However, following this announcement, Metaplanet’s stock dropped by 9.1%, attributed to a $2.1 million net loss in the first three quarters of 2024, primarily due to rising expenses in its hospitality division.
Bitcoin Magazine tweeted, “Metaplanet’s commitment to Bitcoin highlights growing corporate interest in crypto as a treasury asset.”
The company’s decision to increase its Bitcoin holdings could signal continued institutional confidence in Bitcoin, potentially supporting market demand and stability.
- Investment Growth: Metaplanet now holds 1,000 BTC, worth $28M
- Stock Impact: Shares fell 9.1% amid operational losses
- Market Insight: Corporate interest in Bitcoin as a treasury asset continues
Bitcoin Holds Above $91,500; Key Levels to Watch Amid Uptrend Support
Bitcoin’s price action remains buoyed by an ascending trendline, signaling bullish momentum as long as it holds above the pivot level at $89,150. Immediate resistance at $91,600 is proving a challenging barrier, capping gains for now.
Should Bitcoin break above this level, it could target higher resistances around $93,325 and $95,120.
On the downside, the immediate support at $89,150 remains crucial, with further supports at $86,550 and $85,070 if a pullback occurs. The RSI, currently at 63, indicates moderate bullish strength, though caution is advised near resistance levels.
Key Insights:
- Uptrend Support: Ascending trendline shows buying interest above the $89,150 pivot.
- Resistance Barrier: $91,600 limits immediate upward potential.
- RSI Level: RSI at 63 points to moderate bullish momentum.
Key Insights:
- Support Level: Upward channel support around $89,000.
- Immediate Resistance: Key resistance at $91,280 and $93,320.
- Technical Indicator: RSI at 59 shows moderate bullish momentum.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
