Top 3 Gainers 

  • Stellar has witnessed the most impressive gains this week, with its price soaring by 113.23%.
  • MANTRA experienced a substantial increase of 112.70%, climbing to $3.69.
  • Hedera showcased robust growth, increasing its price by 96.25% to reach $0.1379.

Top 3 Losers

  • Peanut the Squirrel leads this week’s losses with a sharp decline of 33.45%. Its price currently stands at $1.24.
  • Goatseus Maximus recorded an 11.62% drop in price over the past week, now trading at $0.9162.
  • dogwifhat rounds out the top three losers with a 9.41% decrease, bringing its price to $3.35. 

After reading about which crypto you could have invested in to strike it rich and being glad about not throwing your money at this week’s losers, it’s time to move on to the most important and craziest news of the week.

Michael Saylor to Pitch Bitcoin Investment Strategy to Microsoft's Board

Michael Saylor, the chairman of MicroStrategy, is preparing to make a three-minute pitch to Microsoft's board of directors, arguing that the tech giant should dive into Bitcoin. Saylor believes that adding Bitcoin to Microsoft’s portfolio could help stabilize its stock and reduce risk. 

He even suggested a confidential meeting with Microsoft’s CEO, Satya Nadella, to discuss this, but the offer wasn't accepted. So now, Saylor will take his pitch public, drawing on MicroStrategy’s own success story: a 300% surge in stock value this year, thanks to their Bitcoin investments. 

In October, Microsoft announced that it would put Bitcoin investment up for a vote this December, prompted by the National Center for Public Policy Research (NCPPR), which believes Bitcoin could provide the company with a more solid foundation, given that a staggering 98.5% of Microsoft’s value is tied to its profits, with only 1.5% coming from tangible assets.

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Source: SEC

Despite the board’s recommendation to vote against the proposal, arguing that Microsoft is already evaluating a range of potential investments, including Bitcoin, this decision could leave them in a tricky position with shareholders if they decide to avoid the crypto market altogether.

Cyberport in Hong Kong Expands Web3 Network with Over 270 Companies

Cyberport, Hong Kong's government-backed business hub, has significantly expanded its Web3 and blockchain network, now home to over 270 companies. In just the last 16 months, more than 150 new firms have joined the fold, including three unicorns. The crypto, blockchain, and Web3 sectors are clearly booming, with the Hong Kong government lending its full support.

In 2023, Hong Kong’s government invested 50 million yuan (roughly $7 million) into Cyberport to accelerate Web3 ecosystem growth. Now, companies from over 20 countries, including the US, Canada, UK, India, and China, are leveraging the hub to bring real-world blockchain applications to life in areas like fintech, cybersecurity, and digital entertainment.

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Source: Hong Kong Legislative Council

But that’s not all. Cyberport is actively attracting companies focused on improving blockchain security, asset storage, and crypto wallet development, while fostering collaboration among startups. Meanwhile, Hong Kong continues to refine its regulatory framework for crypto exchanges and plans to issue operating licenses by the end of 2024. A total of 16 companies have applied for licenses, with 11 awaiting approval to start operations.

Donald Trump Appoints Bitcoin Supporter as Commerce Secretary

Donald Trump has appointed Howard Lutnick, former CEO of Cantor Fitzgerald, as his new Secretary of Commerce. Lutnick, who was also a top contender for Secretary of the Treasury, is a staunch supporter of Trump's tariff policies, including the infamous sweeping import duties. 

You might be wondering, "Why is this guy relevant, and who even is Howard Lutnick?" Well, Lutnick has publicly backed Bitcoin, distinguishing it from other cryptocurrencies and arguing for its classification as a commodity to reduce regulatory oversight.

Since 2021, Lutnick’s firm, Cantor Fitzgerald, has been involved in the crypto space, with Lutnick playing a key role in managing significant Tether (USDT) assets in the U.S. Treasury. In July 2024, the firm launched a Bitcoin financing business, offering leverage to Bitcoin investors with an initial $2 billion in funding.

Lutnick, a vocal crypto advocate, could play a major role in the future development of crypto regulation and financing in the U.S. 

Absurdity in the Crypto Space for $6.2 Million

If you thought spending money on random nonsense was a little out there, you can rest easy, knowing you won't top Tron blockchain founder Justin Sun. He just spent $6.2 million on a piece of art by Maurizio Cattelan called "Comedian" — a banana duct-taped to a wall.

This piece, which became a sensation at Art Basel in 2019, is a satire on consumer culture and the value of art. Sun, ever the art connoisseur, announced plans to eat the banana, making it part of his artistic experience.

As if eating a $6 million banana wasn’t absurd enough, now Justin is suggesting that Elon Musk send the artwork on a space adventure. 

This move has drawn a wide range of reactions: from critics claiming it devalues art to defenders arguing that this is the type of irreverence modern art is all about. 

Whatever conclusions the crowd draws, Sun’s stunt has turned "Comedian" into a hot topic in art and tech communities, blurring the lines between physical art and performance.

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