Author: Max Bauer
Comerica Bank’s Chief Economist, Bill Adams, predicts the Federal Reserve will likely “go on hold” with interest rate cuts after June 2025. This projection comes amid market expectations of further rate cuts following the Fed’s September meeting signal of lowering rates to a less restrictive level by year-end. Adams, speaking alongside Matt McLennan, co-head of First Eagle’s global value team, on [Name of Show/Platform], explained that while current inflation sits between 2.5% and 3%, slightly above the Fed’s 2% target, the central bank feels less pressure to maintain rates around 5%. He anticipates further cuts in March and June 2024,…
Texas lawmakers have introduced a bill to create a state-level strategic bitcoin reserve, a move that could serve as a testing ground for a similar initiative at the national level. Republican State Representative Giovanni Capriglione announced the legislation during an X Spaces event on Thursday. The bill proposes that Texas accept tax payments, fees, and donations in bitcoin, holding the cryptocurrency for a minimum of five years. This reserve, according to Capriglione, aims to bolster the state’s financial stability and position Texas as a leader in bitcoin innovation. He argued that such a reserve would be a “win-win” for the…
Former President Donald Trump has declared his intention to make the United States a global leader in cryptocurrency, emphasizing the need to outpace China and other nations in the burgeoning digital asset space. In recent remarks, Trump stated, “We’re gonna do something great with crypto because we don’t want China or anybody else…others are embracing it and we want to be the head.” Trump contrasted his approach to cryptocurrency with the previous administration, suggesting a more proactive stance towards digital assets. He also linked his crypto ambitions to advancements in artificial intelligence (AI), asserting the US must maintain a leading…
Cryptocurrency analytics firm Alphractal has released a new report indicating that Bitcoin holders with 100 to 1000 BTC, dubbed “The Dolphins,” are the only group currently accumulating Bitcoin. All other address sizes, according to Alphractal, are in a distribution phase, suggesting they are selling their holdings. The report highlights a significant correlation between the Dolphins’ behavior and Bitcoin’s price action since the end of 2020. “When they accumulate, we see upward price movements, and when they distribute, price declines are observed,” the analysis states. Alphractal posits that this group, rather than larger holders (most of whom are exchanges), represents the…
A new report from Citi analysts challenges the popular narrative that Bitcoin will eventually dethrone the US dollar as the world’s reserve currency. Instead, the report argues that stablecoins, cryptocurrencies pegged to the US dollar, are actually reinforcing the dollar’s dominance. “The original vision for cryptocurrencies like Bitcoin was to rival central bank-issued currencies,” the Citi analysts explain. “Some even predicted Bitcoin would end the US dollar’s hegemony. However, the rise of stablecoins, which now account for over 80% of cryptocurrency trading volume, is directly contradicting this prediction.” The report highlights the fact that most stablecoins are pegged to the…
Crypto asset manager Bitwise has released its bold predictions for the cryptocurrency market in 2025, forecasting new all-time highs for Bitcoin, Ethereum, and Solana. The firm anticipates Bitcoin surging to $200,000, Ethereum reaching $7,000, and Solana hitting $750. These projections, while optimistic, are not guarantees and should not be taken as investment advice, Bitwise cautions. Beyond price predictions, Bitwise anticipates a surge in mainstream crypto adoption and significant regulatory developments. The firm’s key predictions include: Looking even further ahead, Bitwise offers a bonus prediction: by 2029, Bitcoin will surpass the $18 trillion gold market, trading above $1 million per Bitcoin.
Following Bitcoin’s surge past $100,000 after his election victory, former President Donald Trump reportedly hopes to see the cryptocurrency reach $150,000 during his upcoming term. According to an Axios report citing an anonymous transition source, Trump is “going to be very focused on the price of Bitcoin,” viewing it as “another stock market” to gauge the success of his economic policies. This echoes Trump’s previous practice of highlighting stock market performance as an indicator of his administration’s economic management. Since his election in November, Bitcoin’s price has rallied from around $68,000 to over $103,000. Last week, Trump celebrated Bitcoin surpassing…
Microsoft shareholders have voted against a proposal that would have explored the company adding Bitcoin to its corporate treasury. The proposal, titled “Assessment of Investing in Bitcoin,” was put forward by the National Center for Public Policy Research and suggested allocating 1% of Microsoft’s total assets, approximately $784 million based on current holdings, to the cryptocurrency. The preliminary vote results, announced at Microsoft’s annual shareholder meeting, align with the board’s recommendation to reject the proposal. The board had previously expressed concerns about Bitcoin’s volatility, emphasizing the company’s preference for stable and predictable investments. Michael Saylor, Executive Chairman of MicroStrategy, a…
Binance, the world’s largest cryptocurrency exchange by trading volume, has quietly removed its integrated inscription market from its wallet, effectively halting user trading of inscription assets. The move comes just months after the platform launched the feature in February, initially supporting BRC-20 and other inscription protocols. This decision has reignited the ongoing debate surrounding the long-term viability and value of Bitcoin inscriptions. Binance’s customer support confirmed the removal, stating that users are currently unable to buy or sell inscription assets. The exchange has not provided a public statement explaining the reasons behind the decision. The rise of Bitcoin inscriptions began…
Anton Tkachev, a State Duma deputy from the “New People” party, has formally proposed the creation of a strategic Bitcoin reserve in Russia, modeled after traditional currency reserves. In an appeal to Finance Minister Anton Siluanov, Tkachev argued that geopolitical instability exposes traditional reserve currencies like the yuan, US dollar, and euro to volatility, sanctions, and inflation, threatening Russia’s financial stability. Tkachev’s proposal, reported by RIA Novosti, suggests that cryptocurrencies, specifically Bitcoin, could offer an alternative reserve asset independent of any single country. He emphasized the increasing importance of cryptocurrencies for international trade, particularly for nations facing sanctions that restrict…