Bitcoin
Leak reveals that a ‘big’ Fed earthquake could suddenly destroy the price of Bitcoin, Ethereum, XRP and cryptocurrencies
Bitcoin
Bitcoin
surged again this week as excitement built ahead of former President Donald Trump’s appearance at the Bitcoin 2024 conference (with wild rumors of a major bitcoin announcement continuing to circulate).
Bitcoin price has risen again to $70,000 per bitcoin after Tesla billionaire Elon Musk warned the US dollar was at risk of “destruction” It is Billionaire investor Mark Cuban issues ‘crazy’ bitcoin price prediction.
Now, as controversial Project 2025 sets bitcoin up for $16 trillion price showdown with goldA leak has revealed that pro-bitcoin Republican Senator Cynthia Lummis is drafting legislation that would require the US Federal Reserve to hold bitcoin as a “strategic reserve asset” alongside gold and foreign fiat currencies.
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Republican presidential candidate and former US President Donald Trump to speak at Bitcoin… [+] 2024 conference this weekend, with traders betting on price volatility in bitcoin, ethereum, XRP and other cryptocurrencies.
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Lummis will take the stage today at the Bitcoin 2024 conference in Nashville, Tennessee, ahead of Trump’s highly anticipated appearance tomorrow and may announce legislation that would require the Federal Reserve to hold some bitcoin as a strategic reserve asset, it was reported. reported by Fox Business, citing “three cryptocurrency executives with knowledge of the bill.”
Lummis goes to appear CT alongside fellow Republican Sen. Tim Scott, where she may announce the bill. Lummis’s team told Fox Business that they expect Trump to then endorse the bill during his speech.
“There are good things in store this week,” Lummis posted for X this week, using the bitcoin logo emoji in place of the letter B.
“Having the Fed hold bitcoin as a strategic reserve asset would be an important move that would bring stability to the U.S. dollar and our capital markets,” Alex Chizhik, chief commercial officer at HarrisX, told Fox Business. “It also sends a strong signal that our central bank is embracing innovation and, as an independent body, is the natural, nonpartisan home for bitcoin.”
Trump’s embrace of bitcoin and crypto in recent months has reinvigorated bitcoin’s price. Bitcoin’s price “seems to have rebounded on the positive sentiment that Donald Trump, who is likely the current favorite to win the election, is pro-crypto,” Daniel Polotsky, president and founder of bitcoin ATM operator CoinFlip, said in emailed comments.
This week, Wild rumors have swirled around the crypto community that Trump could announce he would create a strategic bitcoin reserve in the US during the Bitcoin 2024 conference.
“The U.S. could strategically incorporate bitcoin into its reserves, diversifying its portfolio and reducing reliance on traditional assets like gold and foreign currencies,” Markus Thielen, chief executive of institutional-focused analytics firm 10x Research, wrote in a note to clients, pointing to the roughly 212,000 bitcoins the U.S. government currently holds, worth about $15 billion, compared with its $600 billion in gold reserves.
“The Bitcoin 2024 conference is generating significant buzz,” Rachel Lin, CEO of decentralized derivatives exchange SynFutures, said in an email. “There is speculation that a U.S. presidential candidate may announce bitcoin as part of the U.S. strategic reserve at the conference. Even if that doesn’t happen, a presidential candidate speaking at the event highlights the growing acceptance of cryptocurrency by the general public. Regardless of what is announced, this conference will go down as a significant milestone in the history of cryptocurrency.”
Independent presidential candidate Robert F. Kennedy (RFK) Jr. has already appeared at the Bitcoin 2024 conference, doubling down on his support for bitcoin and revealing that he has “most of [his] bitcoin wealth”, calling himself “fully committed”, was reported by Coindesk.
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The price of Bitcoin has climbed back to near its all-time high of $70,000 per bitcoin, helping… [+] price of ethereum, XRP and other major cryptocurrencies are expected to rise.
Forbes Digital Assets
RFK Jr. also criticized the relationship between Congress and the Fed, calling it “both parasitic on our country and a symbiotic relationship. The Fed is not a public institution… The decision-makers are appointed by the banking industry,” he said during a conference panel hosted by TheStreet.
Meanwhile, presumptive 2024 Democratic presidential nominee Kamala Harris has ruled out an appearance in Nashville, cementing bitcoin and cryptocurrencies’ status as a partisan technology supported by Republicans and shunned by Democrats.
Conference organizer and Bitcoin Magazine editor David Bailey said in an X publish It was “no surprise” that Harris declined to attend the event, adding: “What can she tell us when she is actively locking up developers, forcing our industry overseas, attacking [proof-of-work]…it would have been a disaster for her.”
Bitcoin has lost out on an asset rally fueled by positive comments from the Federal Reserve, while a tight US election race casts doubt on whether Donald Trump will get the chance to implement his pro-crypto agenda.
The digital asset fell 2.4% on Wednesday, following a Fed-fueled surge in an index of megacap tech stocks Magnificent Seven by one of the largest margins in 2024. The token retreated further on Thursday, changing hands at $63,750 as of 6:10 a.m. in London.
Bitcoin
‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump
Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.
The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.
Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.
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Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.
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The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.
“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.
“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”
John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”
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Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.
Forbes Digital Assets
Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.
Bitcoin
Bitcoin (BTC) miner Riot Platforms (RIOT)’s second-quarter loss widens to $84.4 million as costs rise
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At a national bitcoin conference in Nashville, Donald Trump finally laid out some of his crypto policy proposals, including a long-awaited part of his plan — building a strategic bitcoin reserve. CNN’s Jon Sarlin explains what it is and why the crypto industry wants it.
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