Investing.com-- Bitcoin climbed marginally on Wednesday, steadying after days of consecutive declines, as risk sentiment remained subdued amid fresh trade tariff threats from U.S. President Donald Trump and cautious anticipation of the Federal Reserve’s latest meeting minutes.
The world’s largest cryptocurrency edged 0.4% higher to $96,073.0 by 10:26 ET (15:26 GMT).
Despite the recent pullback, Bitcoin has largely traded within a narrow range over the past week, reflecting a lack of clear directional momentum. Traders remain on the sidelines, awaiting clearer signals on macroeconomic trends and regulatory developments.
Trump threatens fresh tariffs; Fed meeting minutes on tap
President Trump has announced plans to impose around 25% tariffs on imports of automobiles, semiconductors, and pharmaceuticals, with potential increases over the year.
This move aims to protect U.S. industries and encourage companies to relocate operations domestically. The tariffs are expected to be confirmed by April 2, following a trade policy review.
Adding to the cautious tone, investors are awaiting the release of the Federal Reserve’s January meeting minutes, due later in the day, for clues on the central bank’s interest rate trajectory.
Recent U.S. economic data and comments from Fed officials, have fueled speculation that the Fed may hold rates higher for a longe- than-expected period, which could strengthen the U.S. dollar and further pressure Bitcoin.
Strategy offers $2 bln debt to expand Bitcoin holdings
On Tuesday, Strategy, formerly MicroStrategy Incorporated (NASDAQ:MSTR), announced plans to raise $2 billion through a private offering of zero-coupon convertible senior notes due in 2030.
The company intends to use the proceeds for general corporate purposes, including the acquisition of additional Bitcoin. This move aligns with Strategy’s ongoing commitment to expanding its cryptocurrency holdings.
The company has also granted initial purchasers an option to buy up to an additional $300 million in notes within five business days of issuance.
This fundraising effort is part of Strategy’s ambitious 21/21 Plan, which aims to raise $42 billion over three years through a combination of equity and fixed-income securities to invest in Bitcoin.
Since the plan’s inception on October 30, 2024, the company has acquired nearly 200,000 Bitcoins, bringing its total holdings to 478,740 BTC, solidifying its position as the largest corporate Bitcoin holder.
Strategy said it will host a live video webinar on Wednesday to discuss the details with qualified institutional buyers.
Hong Kong broadens virtual asset initiatives with new licensing and trading frameworks
In other developments in the crypto world, Hong Kong is expanding investment options for virtual assets as it pushes to become Asia’s digital asset hub, the city’s financial regulator said Wednesday.
The Securities and Futures Commission plans to introduce new licensing frameworks for over-the-counter virtual asset trading and custody services, aiming to enhance market efficiency and investor protections. It is also reviewing derivative trading and margin financing for digital assets.
Regulators are advancing stablecoin oversight, with new legislation introduced to support further innovation. These efforts “reflect our commitment to building a thriving digital asset ecosystem,” said Paul Chan, the Hong Kong’s financial secretary.
Crypto price today: most altcoins see marginal, range-bound moves
Most altcoins were slightly lower, in line with Bitcoin, moving in narrow ranges as caution persisted amid macroeconomic headwinds.
World no.2 crypto Ether ticked up 0.2% to $2,688.81 on Wednesday.
World no. 3 crypto XRP added 1.3% to $2.59.
Solana rose 2%, and Cardano fell 2%, while Polygon lost 1.3%.
Among meme tokens, Dogecoin rose 1%, while $TRUMP jumped over 4%.
Ayushman Ojha contributed to this report.