Tyler and Cameron Winklevoss, founders of crypto exchange Gemini, are big fans of bitcoin (Marco Bello/Getty Images)

Gemini’s soaring bitcoin display sets record, but bitcoin itself stays flat

Bitcoin’s price remains tepid, but companies keep adding it to their stockpiles.

3/14/25 10:48AM

Bitcoin’s price had a brief bump, thanks to a softer-than-expected CPI report, but it wasn’t enough to boost it much and didn’t last long. Bitcoin’s started the week at about $83,000 on Monday, March 10, and ended the week… around $83,000 as of Friday morning.

One thing that might help bitcoin’s price going into the weekend: today, Representative Byron Donalds is set to introduce legislation that would make President Trump’s executive order to establish a national strategic bitcoin reserve permanent. Bloomberg reported that the bill would “ensure that the reserve and stockpile could not be eliminated by executive action from a future president,” as executive orders are not legislation and can be reversed.

Despite bitcoin’s price staying flat, the Winklevoss twins wanted to display their love for the asset in a high-flying, record-setting way: their crypto exchange, Gemini, set a new Guinness World Record yesterday, with a 20-minute “bitcoin-themed light show” featuring 1,000 drones. The record? “The largest aerial display of a currency symbol formed by multi-rotor/drones.” They have the certificate to prove it.

LIVE: Largest Bitcoin in the Sky - Guinness World Record 🚀 https://t.co/EB8eaGccZE
— Gemini (@Gemini) March 14, 2025

Meanwhile, companies continued to add bitcoin to their reserves this week:

Japanese company Metaplanet added 162 bitcoin and now holds 3,050 bitcoin in its reserve.
Video-sharing platform Rumble added 188 bitcoin to its reserve, saying that the “move further emphasizes Rumble’s conviction in bitcoin as a valuable tool for strategic planning and reinforces the company’s expansion into cryptocurrency.”
“Wet trades” company Ming Shing said its wholly owned Hong Kong subsidiary, Lead Benefit, acquired 333 bitcoin, bringing its total to 833.

Bucking the trend, Hive decreased its bitcoin holdings. The tech company said on March 10 that it sold “a portion of its BTC to invest in capital assets, including Bitfarms’ 200 megawatt (‘MW’) hydro-powered bitcoin mining assets in Paraguay.”

Hive now holds 2,620 bitcoin, down from 2,805.

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Justin Sun sues Trump-backed World Liberty over frozen tokens

Crypto billionaire Justin Sun, owner of the world’s most expensive banana, was named an adviser to World Liberty Financial the day after investing $30 million in the project. (He’d later boost that with $45 million more.) Sun has long been a supporter of President Trump, and has not once, but twice topped a competition to amass the most $TRUMP coins. But it seems even for Sun, the gold has turned brass.

Sun announced on social media that he’s filed a lawsuit in a California federal court against the crypto project backed by Trump.

The lawsuit alleges World Liberty engaged in an “illegal scheme to seize property” and “positioned itself as the new boogeyman” by stripping Sun of his governance rights, threatening to burn his WLFI tokens, and freezing his stash, which at times were worth $1 billion, according to the complaint dated on Tuesday.

“I have tried in good faith to resolve this situation with the World Liberty project team without resorting to litigation,” Sun wrote in a lengthy X post on Tuesday night. “But the project team has refused my requests to unfreeze my tokens and restore my rights as a token holder. They have left me with no choice but to turn to the courts.”

The complaint also alleged that World Liberty appears to be in financial trouble, citing concerns over whether the project can repay an on-chain loan that was collateralized by using, at the time, $5 billion worth of WLFI. The token reached an all-time low less than two weeks ago.

Despite the escalation with World Liberty, Sun said the lawsuit does not change his feelings about Trump or his administration. “I have always been — and remain — an ardent supporter of President Trump and his Administration’s efforts to make America crypto friendly,” he said.