Cryptocurrency

The discussion began by discussing the recent news that cryptocurrency could be used as a reserve asset by the U.S. Federal Reserve. As a reminder, Senator Cynthia Lummis proposed a bill that would create a strategic Bitcoin reserve, involving purchasing 1 million BTC over five years and holding them for a minimum of 20 years. This could reduce the national debt, the senator believes.At the same time, some critics believe BTC is too volatile as a reserve asset and too impractical for day-to-day use when there are concerns about its ability to handle an increasing number of users, especially in light of rising transaction costs. Ripple CTO also explained that blockchain, as a decentralized registry, provides a basic level of reliability and transparency. Sometimes, centralized systems can process transactions more quickly and cheaply, while still keeping things secure.This shows how Bitcoin can be used in different ways, depending on what the user needs. The fact it can be used for secure record keeping through blockchain and more efficient transactions through centralized systems makes it stand out from other assets.This article was originally published on U.Today More

While the token had initially reacted somewhat negatively to Trump’s speech, especially as he stopped short of explicitly promising a national reserve, buyers stepped in shortly after his address. Bitcoin rose 2.7% in the past 24 hours to $70,018.0 by 09:19 ET (13:19 GMT). Trump on Saturday told the Bitcoin Conference that the U.S. should become the world’s crypto leader before China, and that he would also roll out friendlier regulations than Democratic presidential frontrunner Kamala Harris. Trump said he would set up a crypto advisory council for the White House, and would also create a national stockpile of Bitcoin using the current holdings of the U.S. government- most of which was seized by law enforcement activities. “Never sell your bitcoin… If I am elected, it will be the policy of my administration, the United States of America, to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future,” Trump said. Trump- who had in 2021 called cryptocurrency a scam, has courted the sector with his recent campaigning efforts. His campaign accepts donations in crypto, and the former president has also released his own collection of non-fungible tokens. Trump also vowed to fire Securities and Exchange Commission Chair Gary Gensler, who has maintained a regulatory crusade against the crypto industry. Recent polling data showed Trump is set for a tight race with Harris, who has so far not outlined any plans for crypto regulation. But given her past as a prosecutor with experience in financial fraud, it appears likely that Harris will continue the government’s crackdown on crypto. Bitcoin’s price benefited from speculation over a Trump presidency, rebound sharply over the past two weeks from four-month lows. But further gains in the token still remained doubtful, as defunct crypto exchange Mt Gox continued to mobilize its Bitcoin holdings for distribution.Broader cryptocurrency prices advanced on the prospect of friendlier U.S. regulations. Speculation over interest rate cuts in the U.S.- ahead of a Federal Reserve meeting this week- also supported risk-driven assets.World no.2 token Ether rose 3.3% to $3,377.32, seeing some increased interest after the launch of spot exchange-traded funds (ETFs) tracking the token last week.XRP, ADA and SOL rose between 1.3% and 3.3%, while among meme tokens, DOGE added 2.3% while SHIB rose 1.5%.The launch of U.S. spot ETFs saw mixed results last week, with most experiencing net inflows, but significant outflows from Grayscale’s converted fund, ETHE, overshadowed these gains.Nine new spot Ethereum ETFs from eight issuers were launched last Tuesday, following their approval by the SEC in May. In the first four days of trading, BlackRock (NYSE:BLK)’s ETHA led with $442 million in net inflows, followed by Bitwise’s ETHW with $265.9 million and Fidelity’s FETH with $219.4 million. VanEck’s ETHV, Franklin Templeton’s EZET, Invesco’s QETH, and 21Shares’ CETH also saw net inflows of $35.4 million, $23.3 million, $14.2 million, and $7.5 million, respectively.Nearly all ETFs attracted net inflows, except for Grayscale’s ETHE, which faced over $1.5 billion in net outflows last week, resulting in a combined net outflow of $341.8 million for U.S. spot Ethereum ETFs.In comparison, the U.S. spot Bitcoin ETFs, launched in January, had a total net inflow of $1.26 billion in their first four days. Excluding ETHE, the Ethereum ETFs generated about 40% of the net inflows seen by the Bitcoin ETFs post-launch, at $1.17 billion compared to $2.89 billion, excluding the similarly converted GBTC. More

In an address to the Bitcoin community on Sunday, Trump laid out an ambitious vision for the future of cryptocurrency in the United States.His speech emphasized the transformative potential of Bitcoin and other digital assets, likening the current moment to the early days of the steel industry.Recognizing Bitcoin’s MilestonesTrump began by acknowledging the extraordinary growth and impact of Bitcoin. “In just 15 years, Bitcoin has gone from merely an idea posted anonymously on an internet message board to being the ninth most valuable asset anywhere in the world. Can you believe that?” he said. This recognition of Bitcoin’s rapid ascent set the tone for his optimistic vision of the future.America’s Role in the Crypto RevolutionCentral to Trump’s message was the imperative for America to lead in the cryptocurrency space. He said, “If bitcoin is going to the moon, as we say, it’s going to the moon, I want America to be the nation that leads the way.” He warned, “If we don’t embrace crypto and Bitcoin technology, China will, other countries will, they’ll dominate, and we cannot let China dominate.” His call to action underscored the need for the United States to remain at the forefront of technological innovation, particularly in the realm of digital currencies.A Commitment to Supportive PoliciesTrump’s speech was filled with promises of a crypto-friendly administration. He pledged to end what he described as the current administration’s war on crypto, stating, “The day I take the oath of office, Joe Biden, Kamala Harris’s anti-crypto crusade will be over.” He further committed to establishing a Bitcoin and crypto Presidential Advisory Council to create clear regulatory guidelines within 100 days, ensuring the rules would be written by those who understand and support the industry. Additionally, he promised, “I will fire Gary Gensler. I will appoint a new SEC chairman who believes America should build the future, not block the future.”Energy and Infrastructure for Bitcoin MiningRecognizing the energy demands of Bitcoin mining, Trump assured the audience of his commitment to meeting those needs. “You need tremendous amounts of electricity… and we’ll get that done,” he said, promising the construction of new power plants and the use of diverse energy sources to support the industry’s growth. This commitment to infrastructure was a key element of his vision for making the U.S. a Bitcoin mining powerhouse.Opposition to Central Bank Digital Currency (CBDC)Trump made a firm stand against the creation of a central bank digital currency, a move that aligned him with many in the crypto community who value decentralized digital assets. “There will never be a CBDC while I’m president of the United States,” he said, providing reassurance to those concerned about government overreach and centralization.Regulatory Clarity and Industry SupportPromising a regulatory environment that supports innovation, Trump outlined plans for clear and fair guidelines. “We will create a framework to enable the safe, responsible expansion of stablecoins,” he said, aiming to extend the dominance of the U.S. dollar through new financial technologies. His commitment to regulatory clarity was a welcome message to an industry often plagued by uncertainty. He also emphasized, “I will cut unnecessary and burdensome regulations. Fight every day to make America the best place on earth to build a business, including a crypto business.”Long-Term Commitment to BitcoinIn a significant pledge, Trump promised that if elected, his administration would retain all the Bitcoin currently held by the U.S. government. “It will be the policy of my administration, United States of America, to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future,” he said. This promise signaled a long-term commitment to the asset and its potential to benefit the nation. More

Tequila Token ($TEQ) is set to launch on the Solana blockchain, introducing a new community-focused experience inspired by the culture and spirit of tequila. Tequila Token aims to provide an engaging and rewarding environment for its participants.Key Features of Tequila TokenThe Tequila Token launch is scheduled for July 30, 2024, at 17:00 UTC. Interested parties can follow Tequila Token on Instagram and join the official Telegram channel for the latest updates and information.Launch AnnouncementTequila Token is set to make its debut on July 30, 2024, at 17:00 UTC. With a focus on community engagement, strategic partnerships, and rewarding experiences, Tequila Token aims to stand out in the crypto space this summer.For more information, follow Tequila Token on social media and join the community to stay informed about upcoming events and opportunities.About Tequila TokenTequila Token ($TEQ) is a cryptocurrency launched on the Solana blockchain, inspired by the cultural heritage of tequila. The project focuses on creating an engaging and rewarding community experience through strategic partnerships, giveaways, and community activities.ContactSeñor Shotstequilameme0@gmail.comThis article was originally published on Chainwire More

In a groundbreaking achievement, Cryptonica has proudly installed its 6,000th Crypto ATM, marking a significant milestone in the global accessibility of cryptocurrencies. This historic event underscores Cryptonica’s unwavering commitment to making digital currencies easily accessible to people worldwide. On July 6, 2024, new ATMs were unveiled in Kansas City, Missouri, and Berlin, Germany, expanding Cryptonica’s footprint and bringing the world closer to a future where cryptocurrency is for everyone.Cryptonica’s journey began as an innovative startup with a vision to revolutionize the financial landscape. The installation of the 6,000th ATM not only highlights the company’s rapid growth but also emphasizes its pivotal role in the adoption of cryptocurrencies. These ATMs are strategically placed in urban centres, ensuring that users from diverse backgrounds can access and engage with digital currencies seamlessly.The recent installations in Kansas City and Berlin are particularly noteworthy. Kansas City, a hub of technological innovation, now hosts a state-of-the-art Crypto ATM, providing residents with a convenient and secure way to buy and sell cryptocurrencies. Similarly, Berlin, known for its vibrant tech scene and progressive financial ecosystem, welcomes another Cryptonica ATM, further solidifying the city’s status as a leading cryptocurrency hub.Cryptonica’s extensive network of ATMs spans numerous countries, enabling users to perform transactions with ease. Each ATM is designed with user-friendly interfaces and robust security features, ensuring that both novices and seasoned crypto enthusiasts can confidently navigate the world of digital currencies. The company’s dedication to customer satisfaction and technological excellence has earned it a stellar reputation in the industry.About CryptonicaCryptonica was founded by Oliver Ashton with the goal of creating a global network of crypto ATMs that provide convenient and secure access to cryptocurrencies for users worldwide. The company started as a startup focused on developing software for crypto ATMs but soon transitioned to managing its own network of crypto ATMs.The company’s values are innovation, security and accessibility, while it’s mission is to make cryptocurrencies accessible and understandable for everyone by creating a reliable and convenient infrastructure for buying and selling them.Cryptonica has installed 6000 ATMs in over 25 countries, providing access to cryptocurrencies for millions of users. The company plans to increase the number of its ATMs to 8000 units by the end of 2024.For more information: Telegram | YouTube | X | LinkedIn | WebsiteContactBrand ManagerTimothy ChamblissCRYPTONICA ATM SOLUTIONS LIMITEDmarketing@cryptonica.ioThis article was originally published on Chainwire More

The mystery surrounding the disappearance of the Bitcoin emoji has caused concern among members of the crypto community, particularly those active on X. The platform has historically served as a central hub for cryptocurrency discourse, with its user base often at the forefront of industry trends.The Bitcoin emoji was a shorthand for the digital asset, decorating conversation and engagement.Musk can be called a cryptocurrency advocate as he has previously expressed his support for Bitcoin. His endorsement has been instrumental in the mainstream adoption of the asset, cementing his status as a key influencer in the digital currency space. And especially in the DOGE community, for example.Given his history of championing Bitcoin and his understanding of the crypto community, Sun’s appeal is aimed squarely at Musk’s influence. By restoring the Bitcoin emoji, the billionaire could reaffirm his support for BTC and demonstrate his continued commitment to cryptocurrency adoption.Such a move would likely be met with enthusiasm by the market participants and could further impact the positive sentiment that is building around Bitcoin right now.This article was originally published on U.Today More

In his speech during the past Bitcoin conference, Snowden explained that most transactions on the Bitcoin network can be traced down to specific individuals. He noted that various inputs and outputs, such as compliance exchanges, can link these transactions to specific users.This ability to track the history of transactions can reveal sensitive information about their lives and relationships.He further shed light that governments and corporations can utilize transaction data through artificial intelligence to create detailed profiles of people without their consent. By analyzing transaction patterns, artificial intelligence and machine learning can identify unusual activities, revealing information about users’ behavior and connections, Snowden said.The question now is: Can Bitcoin evolve to meet the growing demand for financial privacy without compromising its core principles of decentralization and immutability? As the officials all over the world talk more about adoption of cryptocurrency — the answer is becoming less and less clear.This article was originally published on U.Today More

Saylor posted alongside his tweet a graphic that depicts Bitcoin’s 21-year price forecast. The graphic compares the Bitcoin price of 2024 and estimates for 2045.With an estimated current price of $65,000 and a market capitalization of $1.3 trillion, the base case scenario price for Bitcoin was predicted to be $13 million in 2045 with a $3 million bear case and $49 million in a bull case.In a bear case scenario, Bitcoin market capitalization is expected to reach $68 trillion; $280 trillion in a base case; and $1,030 trillion in a bull case.At the recent Bitcoin conference, Saylor wowed the crypto community by providing interesting data to back up his prediction that Bitcoin’s qualities as a digital capital may see BTC surpass $13 million per coin by 2045 as adoption develops.Saylor, a firm believer in Bitcoin, began buying it in 2020 as an inflation hedge and cash alternative.Saylor’s company, MicroStrategy, is one of the world’s largest public Bitcoin holders. As of June 20, it possessed a total of 226,331 BTC purchased for around $8.33 billion at an average price of $36,798.VanEck predicted that BTC’s price may reach $2.9 million by 2050 if some significant hurdles are surmounted. The asset manager also predicted that Bitcoin may settle 10% of international trade and 5% of domestic trade gains by 2050, with central banks holding it as a reserve asset.Meanwhile, the short-term sentiment remains optimistic howbeit cautious. According to Santiment, Bitcoin’s recent price rebound has shifted traders’ sentiment to levels not seen in 16 months. “Bitcoin’s +20% 3-week price rally has left traders feeling a whole lot more bullish than they were at the beginning of the month,” Santiment wrote.Bitcoin was down 0.83% in the last 24 hours to $67,489 at press time, according to CoinMarketCap data.This article was originally published on U.Today More