August Recap – Solana staking, 11 years Bitcoin Suisse, new look at the airport and more
Sep 1, 2024 - 7 min read
This month we celebrated the eleventh anniversary of Bitcoin Suisse. We are beyond proud of everything we have achieved in these eleven years. This is all thanks to you, our valued clients, employees, partners and supporters. Eleven years ago, our aspiration was to run a company that could sustainably employ a small team through crypto - today we have a successful company with more than 200 dedicated employees who shape Bitcoin Suisse and do their best every day to push us onwards. I would like to thank you all for the great ride, support and trust. None of this would have been possible without you, and I look forward to the years ahead with you by our side.
Andrej Majcen, Chief Executive Officer & Co-Founder
Products & Services
Bitcoin Suisse expands custodial staking services with Solana (SOL) integration
Bitcoin Suisse recently announced the integration of Solana (SOL) into its custodial staking services. This addition enhances Bitcoin Suisse's existing Solana offerings, which include trading and custody, creating a comprehensive Solana portfolio. To participate in SOL staking, clients must invest a minimum of CHF 5’000.
Solana is currently the third-largest Layer 1 blockchain by market capitalization, addressing the blockchain trilemma of scalability, security, and decentralization. Demonstrating remarkable performance, Solana could theoretically process – according to tests - up to 50’000 transactions per second. For context, Bitcoin handles four to seven transactions per second, Ethereum processes around 30, and Visa manages 1’700. This makes Solana one of the fastest blockchains, with comparatively low transaction costs.
At present, SOL staking rewards are approximately 9% annually. The unstaking process involves a three-day lock-up period, and auto-compounding of staking rewards is supported as well.
Company & Industry Highlights
Happy Birthday Bitcoin Suisse
On August 22, Bitcoin Suisse celebrated its eleventh anniversary, reflecting on an incredible journey over the last 11 years. We have witnessed and been part of significant milestones - from the early days when there was only Bitcoin to the invention of Ethereum and the rise of numerous other altcoins. We have stood by you through wild bull markets and challenging bear markets, contributed to the development of the Crypto Valley in Zug and played a key role in shaping the institutional acceptance of cryptocurrencies in recent years.
We are proud to serve you as one of our valued clients and look forward to working with you in the years to come. Here's to you: Our clients, partners, and employees – without your support we would not be where we are today. Thank you!
New advertising screens at Zurich Airport
You may have noticed it already: Bitcoin Suisse has a new look at Zurich Airport. We have been welcoming passengers from all over the world at Zurich Airport (Arrivals 1 & 2) for over five years now. When the advertising campaign was launched in spring 2019, the Bitcoin price was at $4'000, while today Bitcoin is valued much higher. To reflect this, our new advertising message is “Welcoming returns since 2013.”
We hope you like the new look. Don't forget to take some pictures the next time you are at Zurich Airport and remember to tag us on social media.
You can see more pictures of the new look here.
Research
Uncut Gems x Zircuit
In the new episode of Uncut Gems, host Dominic Weibel and Zircuit co-founder Martin Derka dive deep into the world of Rollups and Layer 2 solutions.
Martin discusses how Zircuit aims to redefine blockchain security and efficiency through the integration of AI, zero-Knowledge proofs, and rollup technology. They explore Zircuit's tech stack, the role of AI in transaction sequencing, and the project's innovative approach to detecting and quarantining malicious transactions. The conversation also covers Zircuit's staking program, strategic partnerships, and plans for eventual decentralization.
Tune in for an insightful discussion on the cutting-edge advancements shaping the crypto ecosystem.
Tune in on Spotify or Apple Podcasts, or watch the full conversation on YouTube
New Fundamental: Who owns all the bitcoins?
In recent months, there were a lot of discussions about the German government and Mt. Gox selling their Bitcoin holdings. Both events have led to significant selling pressure and many market participants have wondered which other countries, institutions, companies and individuals might also be holding and selling significant Bitcoin holdings. So, who owns all the bitcoins?
In our latest Fundamental, we shed light on who owns the most bitcoins, which companies own bitcoin and analyze the impact of the new BTC spot ETFs on the distribution of bitcoin and whether they could pose a concentration risk in the future.
The article also highlights some of the alternatives for indirect exposure to bitcoin and which entities already have such indirect exposure.
What do you think? Who owns the most bitcoins, and what percentage of all the freely available bitcoins are they holding? Find out here.
Essay in the Henley & Partners’ Crypto Wealth Report
In an essay, Dominic highlights DeFi’s previous growth phase, its dual nature of being attractive in both risk-on and risk-off economic cycle phases, and its current place in the broader financial system. Read the essay here.
The Crypto Wealth Report by Henley & Partners features a lot of insightful articles and analyses. One example is that there are now 172'300 people worldwide who hold more than 1 million US dollars in crypto assets. This represents an increase of 95 percent compared to the previous year. The number of Bitcoin millionaires is particularly interesting, having risen by 111 percent in the last year to 85'400 people. You can read the full report here.
The Weekly Wrap
Stay informed about the latest news in the world of crypto with the Weekly Wrap from Bitcoin Suisse every Friday. You can sign up for the Weekly Wrap here.
Last month’s editions at a glance:
· 2 August: Trump at The Bitcoin Conference, Mt. Gox Saga Continues & Interest Rate Decisions
· 9 August: Macro Turmoils, Monday's Crash, Extreme Fear And Market Recovery?
· 23 August: Choppy Price Action & Fearful Crypto Markets
· 30 August: Powell: "The Time Has Come", Telegram CEO Arrested, Choppy Price Action
Bitcoin Suisse