The world of Bitcoin could not be more exciting! Despite the price, we’ve got bullish indicators, Japan continues to look favourably on BTC, and Julian Assange is free!
Bitcoin Market News
Renewed Bullishness Expected After Bitcoin, Ether's $10B Options Expiry on Friday
Bitcoin and Ether are expected to see renewed bullishness following a significant options expiry worth $10 billion on Friday. Historically, such expiries lead to notable price movements, and the upcoming one could drive prices higher as traders adjust positions post-expiry (CoinDesk).
US spot bitcoin ETFs score $31 million in net inflows after outflow streak
U.S. spot Bitcoin ETFs have seen $31 million in net inflows recently. Despite market volatility, this positive trend reflects growing investor interest and confidence in these financial products (The Block).
Japanese Investment Firm Declares Bitcoin a “Strategic Reserve Currency”
Japanese investment firm Metaplanet has designated Bitcoin as a strategic reserve currency, citing Japan's financial instability, substantial debt, and yen devaluation. Since April 2024, Metaplanet has acquired 141 Bitcoins, boosting its stock price significantly. This move aligns with global trends of companies investing in Bitcoin to diversify and protect against local currency risks (Daily Coin Post).
Bitcoin Trends
Bitcoin pioneer Julian Assange free from prison
After reaching a deal with US authorities, Julian Assange has been released from prison and left the UK. The agreement likely involves conditions to avoid extradition to the US, where he faced charges related to WikiLeaks' release of classified documents. WikiLeaks began accepting Bitcoin donations in 2011, making it one of the early high-profile crypto adopters. (Startup Daily).
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Nayib Bukele: The Pro-Bitcoin President of El Salvador
Nayib Bukele, the pro-Bitcoin President of El Salvador, has been re-elected for a second term. Known for adopting Bitcoin as legal tender in 2021, Bukele’s popularity is driven by his anti-gang policies, reducing violence significantly. Despite initial scepticism, his re-election ensures continued cryptocurrency advocacy and economic reforms (GNCrypto).
United States Federal Debt Interest Hits Record $1 Trillion
The U.S. federal debt interest has surpassed $1 trillion for the first time, with projections indicating it could reach $3 trillion in five years. Last month, the government spent $103 billion on debt interest, with total borrowing hitting unprecedented levels. Foreign ownership of U.S. debt has declined, increasing the financial burden on American citizens (Bitbo).
FCA Busts Suspects in $1.2B Illegal Crypto Asset Business
The UK's Financial Conduct Authority (FCA) arrested two individuals for allegedly operating an illegal crypto asset exchange worth over 1 billion pounds. The operation bypassed registration and anti-money laundering regulations. Multiple digital devices were seized. The suspects, released on bail, are part of an ongoing investigation. The FCA emphasised its commitment to preventing illegal financial activities in the UK (Coin Telegraph).
Florida man convicted for role in stealing hundreds of millions in crypto through home invasions
In a bizarre turn, a criminal gang in Florida has resorted to targeting Bitcoin owners in home invasions, threatening victims at gunpoint to transfer their cryptocurrency. The Federal case sheds light on the growing intersection of digital assets and traditional crime, highlighting the need for heightened security measures among cryptocurrency holders amid evolving criminal tactics (Fortune).
Bit of Bitcoin fun
When CNBC Hosted a 'Bitcoin Funeral' at $6,000 💀
Global investment broadcast network CNBC holds a tongue-in-cheek "Bitcoin funeral" after they removed the Bitcoin price ticker from their live video feed. The crypto market was in the midst of a major collapse, with the total crypto market cap down 80% from $800 million just months before (YouTube).
