This Week on Myriad Markets: Strategy's Bitcoin Buys, NBA Playoffs, and Switch 2 Price Predictions

According to JP Morgan analysts, Bitcoin's potential upside surpasses that of gold due to recent catalysts like corporate treasury allocations and favorable legislation. Recent acquisitions by Coinbase and Kraken indicate a maturing futures market for Bitcoin.

Arthur Hayes, former BitMEX boss, predicts Bitcoin could reach $1 million by 2028 due to favorable macroeconomic conditions. He believes foreign investment outflow and dollar devaluation will drive Bitcoin's surge, especially if a less crypto-friendly president is elected.

Dave Portnoy shared his rollercoaster experience with meme coins, from windfalls to legal issues and public backlash. Despite dabbling in various coins like SafeMoon and Greed, he now sees meme coins as a rigged game dominated by early buyers.

MapleStory N, the first game in the expanded MapleStory Universe ecosystem on Avalanche blockchain, has seen a significant launch with a 549% spike in active addresses over the past week. The game allows players to own and trade in-game assets as NFTs on the dedicated Avalanche L1 chain called Henesys.

Mubadala, Abu Dhabi’s sovereign wealth fund, increased its stake in the iShares Bitcoin Trust (IBIT) to 8,726,972 shares as of March 31, 2025, up from 8,235,533 shares at the end of 2024, as per a 13F filing released today.

The Department of Justice plans to move forward with charges against Roman Storm, co-founder of Tornado Cash, for money laundering, sanctions evasion, and transmitting criminally derived funds. The DOJ will argue the case in a Manhattan courtroom, dropping one aspect of the charge.

Avenir, a Hong Kong investment group, increased its holdings of BlackRock's iShares Bitcoin Trust ETF (IBIT) by 3.4 million shares in the first quarter, totaling nearly $700 million. This move reflects the growing interest in spot Bitcoin ETFs among financial institutions.

The SEC has been investigating whether Coinbase misstated its user numbers, focusing on a metric claiming over 100 million "verified users," The New York Times reported, citing sources familiar. Coinbase has been in touch with the SEC and hired a law firm to assist with its response.

Progress has been made on the Senate's GENIUS Act, with new language addressing national security, ethics, and Big Tech in stablecoin legislation. The bill still exempts the president and vice president from issuing stablecoins, but now prohibits executive special government employees from doing so.