Aurelia Butler

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  • 113 Shares159 Views

    in Cryptocurrency

    Bitcoin’s 1st Tweet at $0 Marks 16 Years: Details

    Finney’s iconic tweet “Running Bitcoin” was highlighted by Bitcoin historian Pete Rizzo, who shared on X, “The 1st Bitcoin tweet, posted when the price was $0, exactly 16 years ago.”Finney was among the earliest Bitcoin users, and on Jan. 12, 2009, he received the first Bitcoin transaction from Satoshi Nakamoto, Bitcoin’s pseudonymous creator.Finney’s first Bitcoin tweet, sent 16 years ago, marked the beginning of a new era, as Bitcoin had no monetary value at the time. Fast forward 16 years, and Bitcoin has become a global financial asset, with an all-time high of $108,268 on Dec. 17, 2024.As reported, Finney predicted that if Bitcoin became the world’s dominant payment system, its value “should be equal to the total value of all the wealth in the world.” Extending this logic, he determined a value of $10 million for the leading cryptocurrency.Bitcoin’s Short-Term Holder (STH) cost-basis model is a crucial indicator for gauging sentiment among new investors. Historically, this model has tracked market lows during bull cycles and distinguished between bull and bear markets.According to Glassnode, the BTC price is presently nearly 7% above the STH cost-basis of $88,135. If the price stabilizes below this level, it may indicate dwindling sentiment among new investors, which is often a turning point in market trends.Meanwhile, the percentage of Bitcoin wealth held by new investors (coins less than three months old) has increased, accounting for 49.6% of network liquidity. This implies that mature investors have meaningfully distributed coins throughout the rally, with new demand offsetting sell-side pressure.This article was originally published on U.Today More

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    in Cryptocurrency

    Shareholders Urge Mark Zuckerberg to Buy Bitcoin for Meta

    According to podcaster and CEO of Jubilee Royalty Tim Kotzman, a Bitcoin Treasury Shareholder Proposal has been submitted to Meta Platforms Inc (NASDAQ:META)., marking a significant development in the adoption of Bitcoin as a corporate asset.The proposal was filed by Ethan Peck, an employee at The National Center for Public Policy Research, on behalf of his family’s shares. This initiative follows similar proposals submitted by the organization to tech giants like Microsoft (NASDAQ:MSFT) and Amazon (NASDAQ:AMZN).The proposal likely advocates for Meta to consider adding Bitcoin to its corporate treasury, aligning with the growing trend of institutional adoption of cryptocurrencies. If successful, this move could further solidify Bitcoin’s role as a mainstream financial asset and a hedge against inflation.The shareholder proposal submitted to Meta presents a compelling argument for the company to explore adding Bitcoin to its corporate treasury.Ethan Peck, in his supporting statement, outlines the challenges of holding large cash reserves and bonds in an inflationary environment, noting that these assets are diminishing shareholder value over time.He emphasizes Bitcoin’s superior long-term performance as an inflation-resistant store of value, citing its 124% increase in 2024 and a staggering 1,265% rise over the past five years, vastly outperforming traditional bonds.Peck also highlights the alignment of Bitcoin adoption with Meta’s innovative ethos, referencing Mark Zuckerberg’s symbolic naming of his goats, “Bitcoin” and “Max,” as well as Meta director Marc Andreessen’s favorable stance on cryptocurrencies.He underscores that major institutional investors, such as BlackRock (NYSE:BLK), advocate modest Bitcoin allocations, arguing that a similar strategy could benefit Meta’s shareholders.Peck draws attention to broader trends in Bitcoin adoption, including the rapid growth of BlackRock’s Bitcoin ETF, corporate treasury strategies like MicroStrategy’s and potential government reserves.The proposal calls on Meta’s board to conduct an evaluation of Bitcoin as a treasury asset, positioning it as an opportunity for Meta to remain a leader in forward-thinking asset management.This approach, he argues, would honor the company’s tradition of setting technological and financial trends, rather than merely following them.This marks the company’s ninth consecutive weekly Bitcoin purchase announcement, bringing its total holdings to an astounding 447,470 BTC, currently valued at $44.3 billion.MicroStrategy has ambitious plans to raise $2 billion through a preferred stock offering, potentially fueling further Bitcoin acquisitions.With a market capitalization of $93 billion, MicroStrategy now ranks as the 99th largest U.S. company, having leapt 16 spots in a single day. It also became the third most traded equity on Monday, following Tesla (NASDAQ:TSLA) and Nvidia (NASDAQ:NVDA).This article was originally published on U.Today More

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    in Cryptocurrency

    Stunning $350,000 Bitcoin Price Prediction Shared by Jeremie Davinci

    Davinci named an important Bitcoin metric he used while coming up with his Bitcoin price outlook.The crypto influencer revealed that in past bull markets, Bitcoin has managed to soar more than 5x the BTC mining cost. Therefore, taking into account that currently miners spend $70,000 to mine one BTC, the price of the largest cryptocurrency may skyrocket as high as $350,000 in the future if a bullish scenario described by Jeremie Davinci plays out. “Huge potential ahead!” he stated speaking about the Bitcoin price. At the time of writing this material, Bitcoin is changing hands at $94,420.Back then, Kiyosaki tweeted that he found the news about Bitcoin crashing to be great. The financial guru explained his joy, saying that Bitcoin got on sale and it was now possible to start buying it at a big discount.He also reminded the community that almost 20 million Bitcoins out of 21 million have been mined already, which leaves less than 2 million BTC to be produced by miners. After the April 2024 halving, the Bitcoin block reward constitutes 3.125 BTC. The final Bitcoin, according to Satoshi’s plan, is to be mined in the year 2140.This article was originally published on U.Today More

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    in Cryptocurrency

    Ethereum (ETH) Price Finally Retraces, Shiba Inu (SHIB) Double-Bottom Reversal In, Bitcoin (BTC) Volume Spike Propels Bullish Moves

    With two tests and bounces off the $0.00002079 level, SHIB’s price has formed a double-bottom pattern, indicating strong buying interest at this important support zone. Since the 200 EMA closely resembles this level, traders and investors should pay close attention to it. If this pattern plays out well, it may pave the way for a reversal that aims for higher price levels.SHIB might first target resistance at $0.00002294 and then $0.00002314 if the pattern holds. The price may move toward the $0.00002550 region, a crucial level where SHIB could regain momentum if these levels are broken, confirming the reversal.Volume, however, is still comparatively low, indicating that greater market involvement is required to confirm the breakout. The RSI is currently at 43, suggesting that there is still opportunity for growth without going into overbought territory. If support at $0.00002079 is not maintained, the double-bottom pattern may be deemed invalid, which could result in additional declines.SHIB might test lower levels in such a situation, with $0.00002000 serving as the next significant support. A pivotal moment for SHIB is presented by this configuration around the 200 EMA and the double-bottom pattern. In the event that bullish momentum increases, the meme token may recover, giving traders who are expecting a reversal a chance. In the upcoming sessions, it will be crucial to closely monitor important levels and market conditions.Bullish sentiment has been reignited by this bounce, which has moved the price closer to the 100 EMA at $3,265. The next major resistance level is $3,500, and a clear break above this level could pave the way for additional upside. For a long-term recovery, $3,700 is still a crucial level to monitor above that. At 47 right now, the RSI indicates neutral momentum. The recent increase, however, points to a possible move in the direction of bullish territory. Additionally, there has been a slight increase in volume, which lends credence to the notion that buyers are defending important support zones. The reversal comes after a larger market sell-off, in which Ethereum tested pivotal levels after previous sessions’ inability to maintain momentum above $3,700.As it attempts to regain the trust of traders and investors, this recovery is crucial for ETH. ETH may indicate additional decline if it is unable to sustain its upward trajectory and falls below the 200 EMA, with $3,000 serving as the next psychological level of support. By regaining $3,500, on the other hand, bullish sentiment would be strengthened, and Ethereum would be ready to challenge higher levels in the upcoming weeks.The recent action highlights Ethereum’s resilience in the face of market turbulence as its expanding adoption and network foundations continue to draw in long-term investors. For those hoping for a long-term recovery in the larger cryptocurrency market, ETH’s most recent surge is encouraging — even though the road ahead may still be rough.As Bitcoin attempts to recover the $97,500 mark, which currently serves as a short-term resistance, there has been a spike in activity. Bullish confidence could be further increased if this level is successfully breached, as it could lead to a retest of the psychologically significant $100,000 level.With an RSI of 48, Bitcoin is presently in neutral territory, meaning it has room to rise further without reaching overbought conditions. This is consistent with the volume increase that has been seen, which is a crucial indicator of investors increasing their interest. On the downside, the first crucial support to keep an eye on is still $92,000.A retest of the $87,500 region, where the 100 EMA offers more support, may occur if this level is not maintained. If the price breaks below this level, it could indicate a more significant correction that could target $78,124, close to the 200 EMA. Since volume frequently precedes major price movements, the recent spike is encouraging for Bitcoin.This article was originally published on U.Today More

  • 125 Shares119 Views

    in Economy

    IMF chief sees steady world growth in 2025, continuing disinflation

    WASHINGTON (Reuters) – The International Monetary Fund will forecast steady global growth and continuing disinflation when it releases an updated World Economic Outlook on Jan. 17, IMF Managing Director Kristalina Georgieva told reporters on Friday.Georgieva said the U.S. economy was doing “quite a bit better” than expected, although there was high uncertainty around the trade policies of the administration of President-elect Donald Trump that was adding to headwinds facing the global economy and driving long-term interest rates higher.With inflation moving closer to the U.S. Federal Reserve’s target, and data showing a stable labor market, the Fed could afford to wait for more data before undertaking further interest rate cuts, she said. Overall, interest rates were expected to stay “somewhat higher for quite some time,” she said.The IMF will release an update to its global outlook on Jan. 17, just days before Trump takes office. Georgieva’s comments are the first indication this year of the IMF’s evolving global outlook, but she gave no detailed projections.In October, the IMF raised its 2024 economic growth forecasts for the U.S., Brazil and Britain but cut them for China, Japan and the euro zone, citing risks from potential new trade wars, armed conflicts and tight monetary policy.At the time, it left its forecast for 2024 global growth unchanged at the 3.2% projected in July, and lowered its global forecast for 3.2% growth in 2025 by one-tenth of a percentage point, warning that global medium-term growth would fade to 3.1% in five years, well below its pre-pandemic trend.”Not surprisingly, given the size and role of the U.S. economy, there is keen interest globally in the policy directions of the incoming administration, in particular on tariffs, taxes, deregulation and government efficiency,” Georgieva said.”This uncertainty is particularly high around the path for trade policy going forward, adding to the headwinds facing the global economy, especially for countries and regions that are more integrated in global supply chains, medium-sized economies, (and) Asia as a region.”Georgieva said it was “very unusual” that this uncertainty was expressed in higher long-term interest rates even though short-term interest rates had gone down, a trend not seen in recent history.The IMF saw divergent trends in different regions, with growth expected to stall somewhat in the European Union and to weaken “a little” in India, while Brazil was facing somewhat higher inflation, Georgieva said.In China, the world’s second-largest economy after the United States, the IMF was seeing deflationary pressure and ongoing challenges with domestic demand, she said.Lower-income countries, despite reform efforts, were in a position where any new shocks would hit them “quite negatively,” she said.Georgieva said it was notable that higher interest rates needed to combat inflation had not pushed the global economy into recession, but headline inflation developments were divergent, which meant central bankers needed to carefully monitor local data.The strong U.S. dollar could potentially result in higher funding costs for emerging market economies and especially low-income countries, she said.Most countries needed to cut fiscal spending after high outlays during the COVID pandemic and adopt reforms to boost growth in a durable way, she said, adding that in most cases this could be done while protecting their growth prospects.”Countries cannot borrow their way out. They can only grow out of this problem,” she said, noting that the medium-growth prospects for the world were the lowest seen in decades. More

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    in Economy

    UN aviation agency says almost 12,000 people affected by release of data

    The International Civil Aviation Organization this week reported a security incident, saying a threat actor known as Natohub claimed to have released 42,000 records.”After completing careful review of the data, ICAO can now confirm that 11,929 individuals are affected. ICAO is now reaching out to these individuals,” it said in a statement. More

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    in Economy

    IRS says taxpayer service will suffer if Congress cuts modernization funds

    WASHINGTON (Reuters) – The Internal Revenue Service said on Friday it will launch the 2025 tax filing season on Jan. 27 with expanded tools that cannot be adequately supported if the Republican-controlled Congress rescinds tens of billions of dollars in supplemental IRS funding.IRS Commissioner Danny Werfel said that should the IRS lose funding that was initially enacted at $80 billion over 10 years, it will have to reduce staffing levels that have improved taxpayer service and reduced processing times and backlogs for tax returns. The agency will also see its modernization program stagnate, putting many technology improvements in limbo, he said.”And so if we don’t have the right staffing levels, the performance will backslide, and we will see inevitably slower processing delays and potential backlogs,” Werfel told reporters during a news briefing to preview the 2025 filing season.The IRS won the supplemental funding in 2022 as part of the Biden administration’s Inflation Reduction Act, largely a clean energy subsidy and healthcare bill. The funding, which was passed with votes only from Democrats, made up for more than a decade of understaffing, and the U.S. Treasury had estimated that it would enable beefed up enforcement that would yield $564 billion in new tax revenue over a decade.Republicans called unsuccessfully for the funding to be rescinded, arguing that it would unleash an army of new auditors to harass taxpayers. But they subsequently chopped back $20 billion during government funding battles in 2023, bringing the total down to $60 billion through 2031.But another $20 billion in funding was suspended under a stop-gap funding measure last fall due to a drafting anomaly that repeated the prior year’s language. Unless that amount is restored, Deputy Treasury Secretary Wally Adeyemo said the U.S. budget deficit could rise by $140 billion over 10 years due to reduced enforcement.EXPANDED DIRECT FILE SYSTEMWhile Trump has said little about the IRS funds, billionaire Elon Musk, who co-leads the informal Department of Government Efficiency cost-cutting effort, asked subscribers on his X social media platform in November whether IRS funding should be “deleted.”The IRS, which collects 95% of federal revenues, has focused its initial new funding on increasing taxpayer-facing staff to answer questions, bringing average taxpayer phone waiting times to under five minutes. It introduced new scanning technology to allow it to process paper tax returns far more quickly.  Enhancements scheduled for the new tax year include an expanded Direct File system now available in 25 states, up from 12 in a pilot program last year, allowing taxpayers to file simpler electronic returns for free directly with the IRS without the need for a third-party preparer or software. New electronic form-signing capabilities and phone chatbots also are being made available, the IRS said.Werfel said reduced funding would cause new technology advances to “stagnate” and recently rolled-out tools will have fewer employees supporting them, creating longer wait times for taxpayers with issues.It also will hurt revenue collections as the rebuilding of the IRS’ capacity for sophisticated audits of wealthy taxpayers suffers, he added. More