Gate Daily Report (March 24): MicroStrategy Raises $4.41 Billion to Accelerate Bitcoin Purchases; SEC Submits Cryptocurrency Regulatory Proposal to White House

Bitcoin (BTC) rebounded after a dip at the beginning of the week, currently around $70,600 as of March 24. MicroStrategy has expanded its ATM financing capacity, adding $44.1 billion in securities issuance limits. The U.S. Securities and Exchange Commission (SEC) has submitted two new proposals to the White House Office of Management and Budget (OMB), one involving digital asset regulatory exemptions and the other concerning disclosure rules for hedge funds and private equity funds.

Macro Events & Crypto Hotspots

1. According to the 8-K filing submitted by MicroStrategy, the company has added up to $21 billion in Class A common stock ATM, $21 billion in STRC preferred stock ATM, and $2.1 billion in STRK preferred stock ATM. It has also appointed Moelis, Alliance, and StoneX as sales agents, while increasing the authorized stock for STRC and decreasing the authorized stock for KSTRK. On March 23, it was reported that Strategy increased its Bitcoin holdings by approximately $76.6 million last week.

2. According to Bloomberg, the SEC has submitted two new proposals to the OMB, one involving digital asset regulatory exemptions and the other concerning disclosure rules for hedge funds and private equity funds. SEC Chair Paul Atkins stated that the digital asset proposal will introduce “innovative exemptions,” allowing relevant institutions to avoid registration as broker-dealers, exchanges, and other regulated entities for a limited period. The other proposal may adjust Form PF requirements, reevaluating the disclosure data’s regulatory value and the compliance burden on investment managers. Previously, the SEC delayed the implementation of the new Form PF disclosures pushed by former Chair Gary Gensler until October 1.

News Highlights

1. The Samourai Wallet domain, previously seized by the FBI, is now controlled by scammers used to steal Bitcoin.

2. Russia will allow major cryptocurrencies such as Bitcoin, Ethereum, and Solana to enter its market.

3. The Solana Foundation has launched a new privacy framework for institutions.

4. BlackRock CEO: Tokenization could make mobile investing as convenient as payments.

5. Australian retirement fund Hostplus plans to offer its members cryptocurrency investment options.

6. Latest draft of the CLARITY Act: Bans earning profits solely from holding stablecoins.

7. Digital asset management firm ParaFi has raised $125 million for its new fund.

8. Balancer plans to shut down Balancer Labs, with the protocol to be operated by DAO, foundation, and service providers.

9. Iran Parliament Speaker Ali Khamenei: No negotiations with the U.S., “fake news” is used to manipulate the oil market.

10. Kalshi early employees plan to raise $35 million; venture capital fund for prediction markets.

Market Trends

1. Latest Bitcoin news: BTC rebounded from a dip at the start of the week, currently around $70,600. Over the past 24 hours, $206 million in futures were liquidated, mostly long positions.

2. The four major U.S. stock indices closed over 1% higher on March 23, after President Trump announced that, following “constructive talks” with Iran, he ordered the military to delay strikes on Iranian power plants. This news caused oil prices to fall. Despite Iran later denying negotiations, Wall Street received a clear message: at least Trump is eager to end the conflict. The Dow Jones Industrial Average closed up 631.00 points, or 1.38%, at 46,208.47; the S&P 500 rose 74.52 points, or 1.15%, to 6,581.00; the Nasdaq gained 299.15 points, or 1.38%, to 21,946.76.

(Source: Gate)

3. According to Gate’s BTC/USDT liquidation map, with the current price at $70,678.30 USDT, if the price drops to around $69,218, total long liquidations could exceed $646 million; if it rises to around $72,269, short liquidations could exceed $373 million. Short liquidations are significantly lower than longs, so it’s advisable to control leverage ratios reasonably to avoid large-scale liquidations during market fluctuations.

(Source: Coinglass)

4. In the past 24 hours, Bitcoin spot inflow was $3.18 billion, outflow was $3.05 billion, resulting in a net outflow of $130 million.

(Source: Coinglass)

5. Over the past 24 hours, net outflows in contracts trading for $BTC, $ETH, $SOL, $XRP, $DOGE, and others indicate trading opportunities.

KOL Insights

Phyrex Ni (@Phyrex_Ni): “Today’s quite dramatic—on one hand, Trump says Iran is ready to surrender; on the other, Iran claims it’s all Trump’s talk. Bluster doesn’t matter much; what really counts is the situation in the Strait of Hormuz. Today, oil prices broke below $90, but based on the Strait’s situation, it’s not fully open yet. If Iran continues to exert pressure, oil prices might rebound.”

“At this point, both the US and Iran’s statements are untrustworthy. The most direct indicator is the continuous change in oil prices. If oil prices can stay down for a long time, even if the war continues, market attention won’t be too intense. But if oil prices keep rising, then both sides’ claims of wanting a ceasefire are just talk.”

“Looking at Bitcoin data, it’s still very healthy. Many might not agree, but investors currently show no panic or desire to sell. They’re mostly watching. The main focus remains on the Iran-US conflict. Until the Strait of Hormuz fully reopens, volatility will likely remain the main trend.”

“Even if the war between the US and Iran ends, there are still many issues for Trump to handle.”

Today’s Outlook

1. France March Manufacturing PMI preliminary, previous 50.1

2. Germany March Manufacturing PMI preliminary, previous 50.9

3. Eurozone March Manufacturing PMI preliminary, previous 50.8

4. UK March Manufacturing PMI preliminary, previous 51.7

5. UK March CBI Retail Sales Expectations Index, previous -17