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Today's Top Crypto Headlines:
Altman Rejects Musk’s Offer | Strategy Buys More Bitcoin | Binance Clarifies Token Listings and more...
King Fatrick Gil Añasco
February 11, 2025
Good Morning Crypto Enthusiasts!
Glad to have you back for another edition of the UseTheBitcoin.com newsletter.
Altman Rejects Musk’s OpenAI Bid: OpenAI CEO Sam Altman dismissed Elon Musk’s $97.4 billion takeover bid, sarcastically countering with an offer to buy Twitter for $9.74 billion.
📈Technical Analysis Masterclass - ADA Cardano is showing early signs of a short-term uptrend. Watch UseTheBitcoin’s latest Youtube video “Cardano (ADA) Ready to Explode?” to see potential entry point for traders or join our Official Telegram Channel for more alpha!
Strategy Buys More Bitcoin: Bitcoin treasury firm Strategy (formerly MicroStrategy) acquired 7,633 BTC at $97,255 per coin, increasing its total holdings to 478,740 BTC.
💡Feature of the Day - Binance Defends Token Listing Process: Binance co-founder Yi He addressed concerns over the Test (TST) token, emphasizing the exchange’s listing criteria: return on investment, innovation, and market demand.
All this and more in today’s headlines!
📰 News Highlights:
OpenAI CEO Sam Altman has dismissed Elon Musk’s $97.4 billion bid to acquire OpenAI, responding on X with a sarcastic counteroffer to buy Twitter for $9.74 billion.
no thank you but we will buy twitter for $9.74 billion if you want
— Sam Altman (@sama)
9:11 PM • Feb 10, 2025
Musk’s bid, backed by his AI company xAI and investors, aims to revert OpenAI to a nonprofit model.
Scam Altman
— Elon Musk (@elonmusk)
9:55 PM • Feb 10, 2025
The move follows ongoing tensions between Musk and Altman over OpenAI’s shift toward for-profit operations.
OpenAI was created as an open source (which is why I named it “Open” AI), non-profit company to serve as a counterweight to Google, but now it has become a closed source, maximum-profit company effectively controlled by Microsoft.
Not what I intended at all.
— Elon Musk (@elonmusk)
9:36 AM • Feb 17, 2023
Musk previously sued OpenAI, arguing the company strayed from its original mission.
📈Technical Analysis Masterclass:
Key Technical Insights
🔹 Breakout Signal: ADA has broken out of its downward trend on the 4-hour chart, suggesting a possible shift toward an uptrend. Short-term breakouts like this often lead to quick rallies before hitting resistance.
🔹 Strong Support Levels: ADA has successfully held support at $0.68 to $0.70, preventing further declines and showing price stability—an essential factor for sustained upward movement.
🔹 Moving Averages Indicator: ADA has moved above key moving averages, including the 200-day MA, signaling a shift in trend strength. Holding above this level is crucial for continued bullish momentum.
Risk Management & Profit Targets
⚠️ Caution: Despite positive short-term signals, ADA is still in a larger downtrend on the daily timeframe, meaning traders should remain cautious and take profits at resistance levels rather than holding too long.
📍 Resistance Levels to Watch:
$0.80 & $0.90 – Key barriers where sellers may step in, leading to potential pullbacks.
Stop-Loss Strategy: Placing a stop-loss below recent support can help limit losses while allowing room for price fluctuations.
Bitcoin treasury firm Strategy, formerly MicroStrategy, has purchased 7,633 BTC at $97,255 per coin, marking its first acquisition under its new name.
$MSTR has acquired 7,633 BTC for ~$742.4 million at ~$97,255 per bitcoin and has achieved BTC Yield of 4.1% YTD 2025. As of 2/09/2025, @Strategy holds 478,740 $BTC acquired for ~$31.1 billion at ~$65,033 per bitcoin.
— Michael Saylor⚡️ (@saylor)
12:48 PM • Feb 10, 2025
The company now holds 478,740 BTC, with an average purchase price of $65,033 per BTC.
Under its “21/21 plan,” the company aims to raise up to $42 billion in equity and fixed-income securities to fund additional purchases.
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💡 Feature of the Day:
Binance co-founder Yi He has outlined the exchange’s token listing process following controversy surrounding the Test (TST) token, which briefly reached a $500 million market cap.
He explained that Binance prioritizes return on investment, project innovation, and market demand when listing new tokens.
TST got listed on Binance. A few thoughts:
1. CZ said “fundamentals”, then talks about a test coin turned meme coin.
I posted to clarify that TST was NOT endorsed by me/us. It was just a test token used in a video tutorial. But every clarification post just made it more viral… x.com/i/web/status/1…
— CZ 🔶 BNB (@cz_binance)
2:18 PM • Feb 9, 2025
The exchange enforces strict compliance measures, dismissing over 60 employees for misconduct unrelated to insider trading.
😂 A tricky situation. A BNB Chain team member just told me this:
"We did the step by step video education for launching meme token on four.meme platform. In this video, we launched a token named TST as the example.
When we posted the education video yesterday,… x.com/i/web/status/1…— CZ 🔶 BNB (@cz_binance)
12:24 PM • Feb 6, 2025
Concerns arose after TST, initially created for a tutorial, was mistakenly perceived as a legitimate project, fueling speculative trading.
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And that’s it for this today.
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See you all tomorrow’s edition!
Jonathan Gibson
UseTheBitcoin.com