Author: Max Bauer
Venture capitalist and Social Capital CEO Chamath Palihapitiya recently expressed concern over the potential of Google’s new quantum computing chip, Willow, to disrupt the cryptocurrency landscape, particularly Bitcoin. After seeing Google CEO Sundar Pichai’s post about Willow, Palihapitiya admitted to missing a meeting as he scrambled to calculate the potential threat to Bitcoin’s security. According to Palihapitiya, it would take approximately 8,000 Willow chips to break the SHA-256 encryption algorithm that underpins Bitcoin. He estimated a “two to five year shot clock” before this level of quantum computing power becomes a reality, forcing blockchains to adopt new hashing algorithms. Palihapitiya’s…
Former Thai Prime Minister Thaksin Shinawatra, father of current Prime Minister Paethongtarn Shinawatra, urged Thailand to prepare for the growing influence of cryptocurrencies, particularly Bitcoin, during a seminar held at the Intercontinental Hotel in Hua Hin. He revealed that his friends predict Bitcoin could reach a staggering $850,000 and emphasized the importance of staying informed about these technological advancements, suggesting they will inevitably shape government policies. Thaksin, speaking at a seminar organized by the Pheu Thai Party, highlighted the potential impact of Donald Trump’s return to the US presidency, particularly on trade relations with Thailand. He cautioned about potential tax…
MicroStrategy, the data analytics firm turned major bitcoin investor, will join the prestigious Nasdaq-100 Index before markets open on December 23rd, Nasdaq announced Friday. This move comes after a remarkable six-fold increase in MicroStrategy’s share price this year, propelling its market capitalization to nearly $94 billion. The inclusion in the Nasdaq-100 is expected to further boost MicroStrategy’s stock price as exchange-traded funds (ETFs) tracking the index purchase shares to mirror its composition. This development underscores the growing influence of cryptocurrency investments on traditional financial markets. MicroStrategy’s aggressive investment in bitcoin, initiated in 2020 amid declining software revenue, has transformed the…
Bitcoin Suisse, a veteran European cryptocurrency provider, has released a bullish report forecasting Bitcoin’s price to surge beyond $180,000 and potentially reach $200,000 in 2025. The report also highlights the potential for an Ethereum staking ETF to outperform a Bitcoin ETF and projects a five-fold increase in the total market capitalization of altcoins in the first half of 2025. According to Bitcoin Suisse’s Dynamic Cycle Risk and Dynamic On-Chain Cycle Risk models, as well as aggregated growth projections, Bitcoin is on track to achieve new all-time highs next year. While the cryptocurrency entered 2025 in a high-risk phase, the models…
Grayscale Investments, a leading digital currency asset manager, has announced the launch of the Grayscale Chainlink Trust, offering qualified investors exposure to Chainlink (LINK) in the form of a security. This move simplifies investment in LINK, eliminating the complexities of directly purchasing, storing, and securing the cryptocurrency. As of December 12th, the Grayscale LINK Trust boasted a net asset value (NAV) of $111.91 per share and held $30,468,812 in assets under management. The Trust is designed to track the market price of LINK, less fees and expenses. According to Grayscale’s official website, the Trust is “one of the first securities…
A Japanese lawmaker has ignited debate by proposing the creation of a national Bitcoin reserve, potentially positioning the cryptocurrency as a strategic national asset. Satoshi Hamada, a Member of Parliament representing the Party to Protect the People from NHK, formally submitted a written inquiry to the government regarding the feasibility of such a reserve. Hamada’s proposal comes amid growing international interest in Bitcoin as a reserve asset. Citing developments in Brazil and the United States, where discussions around incorporating Bitcoin into treasury holdings are reportedly underway, Hamada urged the Japanese government to explore converting a portion of its foreign exchange…
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…