Here’s what happened in crypto today
Today in crypto, MicroStrategy’s Michael Saylor hints at Bitcoin purchase, analysts have predicted Dogecoin could reach $1 in 2025 as the oldest memecoin jumped 21% in the past week, and Elon Musk faces backlash for announcing a change to the X social media algorithm. Michael Saylor hints at another Bitcoin purchaseMicroStrategy co-founder Michael Saylor hinted at another impending Bitcoin purchase by posting the SayorTracker chart, which documents the company's Bitcoin acquisitions over time."Something about SaylorTracker.com is not quite right," the tech founder teased to his 3.9 million followers on the X social media platform.Saylor posted the same chart one week ago on Sunday, Dec. 29, 2024. The following day, MicroStrategy purchased 2,138 Bitcoin, valued at $290 million at the time of the acquisition.MicroStrategy continues to expand on its 21/21 plan, to secure $42 billion in Bitcoin by offering $21 billion in equity and $21 billion in fixed-income securities to finance its Bitcoin treasury.Dogecoin jumps 21% as whales accumulate, Galaxy predicts $1 DOGEDogecoin has jumped 21% over the past week, outperforming major memecoins like Shiba Inu, Pepe and Bonk.At the time of publication, DOGE traded at $0.38. Shiba Inu , Pepe and Bonk (BONK) were up 7%, 10% and 14%, respectively.The rally follows renewed interest from whales. On Jan. 3, over 1.08 billion DOGE, valued at $413 million, was purchased by whales.The same day, a 399.9 million DOGE transfer — worth approximately $144.9 million — was moved from Binance to an unknown wallet, according to the blockchain analytics platform Blockchair. This type of transaction is often considered bullish, suggesting reduced selling pressure as coins are transferred to private wallets. Alex Thorn, head of research at Galaxy Digital, forecasts DOGE could surge by 170%, reaching $1 for the first time and pushing its market capitalization to $100 billion.“Dogecoin will finally hit $1, with the world’s largest and oldest memecoin touching a $100bn market cap,” he wrote as part of Galaxy’s 2025 crypto predictions on Jan. 2. Musk faces backlash for announcing X algorithm changeElon Musk is facing backlash after announcing that X would change the social media algorithm on the site to promote certain types of content over others."Our goal is to maximize un-regretted user-seconds. Too much negativity is being pushed that technically grows user time, but not un-regretted user time," the entrepreneur wrote in a Jan. 3 post.Users on the platform characterized the algorithm change as a form of censorship, arguing that the term 'negativity' was too subjective and asked Musk who would determine what content qualified as negative.The announced change to the social media algorithm followed a recent online feud between Musk and his supporters over immigrant visas.