Author: Max Bauer
Billionaire cryptocurrency investor Mike Novogratz has suggested that Bitcoin could reach a staggering $500,000 if the United States were to add it to its strategic reserves. He made the bold prediction during a live interview on Bloomberg, sparking renewed discussion about the future of the leading cryptocurrency. Novogratz’s comments come in the wake of a purported statement attributed to US President-elect Donald Trump, promising to make Bitcoin a reserve asset and halting government sales of the cryptocurrency. However, Novogratz himself expressed skepticism about the likelihood of such a scenario unfolding. He emphasized that for Bitcoin to reach such a price…
BlackRock, the world’s largest asset manager, is broadening its reach in the digital finance space by expanding its tokenized liquidity fund, BUIDL, to multiple prominent blockchains. Initially launched on the Ethereum network in March 2024, BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), tokenized by Securitize, will now be available on Aptos, Arbitrum, Avalanche, Optimism’s OP Mainnet, and Polygon. This expansion marks a significant step in BlackRock’s commitment to pioneering real-world asset tokenization, allowing BUIDL to integrate across diverse blockchain ecosystems. With the new blockchain support, users and applications within these ecosystems can now engage with BUIDL natively, benefiting from features…
The Italian government is expected to dilute a proposed increase in the tax on cryptocurrency trading, according to sources familiar with the matter. The initial proposal, included in last month’s budget, aimed to raise the levy on crypto gains from 26% to a steep 42%. However, following pushback from the crypto industry, the League, a junior partner in Prime Minister Giorgia Meloni’s coalition government, has proposed an amendment to limit the increase to 28%. Crypto industry executives had argued that the 42% rate was excessive and would disadvantage Italy compared to other European Union countries, particularly as the EU prepares…
President-elect Donald Trump is reportedly considering Scott Bessent, a billionaire hedge fund investor with notably pro-cryptocurrency views, for the position of Treasury Secretary. This follows investor John Paulson’s withdrawal from contention, citing the complexity of his personal finances. Bessent’s potential nomination has garnered attention due to his outspoken support for cryptocurrencies, particularly Bitcoin. Fox Business reporter Eleanor Terrett highlighted Bessent’s positive stance, quoting his recent statements on the subject. “I have been excited about the president’s embrace of crypto and I think it fits very well with the Republican Party,” Bessent stated. “Crypto is about freedom and the crypto economy…
Federal Reserve Governor Christopher Waller expressed skepticism about the need for a U.S. central bank digital currency (CBDC) in recent remarks, arguing that the private sector is better equipped to innovate in the payments space. While acknowledging the Federal Reserve’s role in ensuring a secure and efficient payment system, Waller emphasized that the private sector is more adept at allocating resources and addressing existing shortcomings. “It is too early to assess the impact of new technologies on payment system friction,” Waller stated, “but the private sector is well positioned to explore these developments.” He further argued that the government would…
Following Donald Trump’s presidential win, optimism is brewing among ultra-wealthy investors regarding Bitcoin’s potential. Barbara Goodstein, managing partner at R360, an exclusive community for centi-millionaires, revealed in a recent interview that these high-net-worth individuals see significant upside in the market following the election results. Goodstein, appearing on a financial news program, highlighted the excitement among R360 members about Trump’s victory and its implications for the future. When asked about the sentiment towards Bitcoin, particularly in light of BlackRock’s Bitcoin ETF surpassing its gold ETF in assets under management, Goodstein expressed a strong bullish outlook. “We’re very high on Bitcoin, and…
Gold bug and outspoken Bitcoin critic Peter Schiff has issued a dire warning about the potential consequences of the US government establishing a Bitcoin reserve, particularly in light of Robert F. Kennedy Jr.’s proposal to back the dollar with Bitcoin. Schiff argues that such a move, specifically purchasing 1 million BTC, would trigger a catastrophic chain of events leading to hyperinflation, the destruction of the dollar, and ultimately, the demise of Bitcoin itself. Schiff’s scenario unfolds as follows: The initial purchase of 1 million Bitcoin by the US government would drive the price significantly higher, prompting long-term holders (HODLers) to…
Bitcoin reached a new all-time high of $85,000 approximately 20 minutes ago, sparking celebrations across the cryptocurrency community. Cryptocurrency analytics firm Santiment released an analysis attributing this milestone to significant accumulation by large Bitcoin holders, often referred to as “whales” and “sharks.” According to Santiment, wallets holding at least 10 Bitcoin have accumulated a total of 234,150 BTC over the past year, a stash now worth a staggering $19.76 billion. This continued confidence and accumulation from key stakeholders has played a crucial role in Bitcoin’s ascent. Interestingly, Santiment also points to the “FUD” (fear, uncertainty, and doubt), capitulation, and wavering…
Bitcoin’s meteoric rise following Donald Trump’s presidential victory has triggered significant losses for investors betting against the cryptocurrency and related stocks. Since November 6th, Bitcoin’s surge to record highs has inflicted billions in losses on short sellers, driven by optimism that a Trump administration will usher in a more favorable regulatory landscape. The pain for crypto short sellers is expected to continue, with most cryptocurrency-related stocks jumping in pre-market trading on Monday. Coinbase, for example, saw a pre-market surge of nearly 16%, mirroring Bitcoin’s price rally. Data analytics firm Ortex reports that traders shorting MicroStrategy, a major corporate Bitcoin backer,…
Bitcoin surged to a new all-time high this morning, eclipsing $82,300, as post-election market euphoria continues to propel the cryptocurrency’s price upwards. Experts believe this is just the beginning of a significant bull run. The $1.6 trillion digital asset has maintained its upward trajectory since surpassing its previous March peak, which followed Donald Trump’s presidential victory. “Despite the post-election ‘Trump Pump,’ we are still in the early stages of this bull cycle,” observed David Brickell, head of international distribution at FRNT Financial, and former forex trader Chris Mills, in their recent newsletter. Several factors are contributing to the market’s bullish…