2,200 letters of support for Bitcoin Strategic Reserve bill sent to US senators

Senator Cynthia Lummis introduced the bill on July 31, which would direct the US government to start a reserve Bitcoin fund.

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German govt shifts additional 3K BTC in 1 hour

The latest transactions by the German government follow outcries from MPs to stop the sell-off and protect the country from the risks of the traditional financial system.

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Bitcoin advocate Mow lists six proposals for Trump's Nashville speech

The Bitcoin advocate aims to influence the political leader to consider Bitcoin a viable and strategic component of the national economy.

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Bitcoin advocate Samson Mow lists six proposals for Trumps Nashville speech

Mow aims to influence the political leader to consider Bitcoin a viable and strategic component of the national economy.

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Trump's Potential Bitcoin (BTC) Strategic Reserve Sparks Debate

Rumors suggest Trump may propose Bitcoin as a strategic reserve asset, impacting global crypto regulation and policy, according to Bitfinex. (Read More)

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RFK Jr. promises BTC strategic reserve, dollar backed by hard assets

The presidential hopeful praised Bitcoin eloquently as a future support for the US economy and a way to fix broken American money and society.

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Bitcoin Surges to $101.7K Amid US Strategic Reserve Bill Passage and Rapid Increase in BTC Adoption

Bitcoin has reached a new high of $101.7K as bills for the US Strategic Reserve become law, signaling an acceleration in BTC mass adoption. The recent surge in Bitcoin’s value can be attributed to the passing of bills related to the US Strategic Reserve, which have now become law. This development has not only boosted [...]

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CertiK announces CertiK Ventures to boost blockchain development

CertiK Ventures aims to drive on-chain innovation by supporting security-first projects, fostering key partnerships, and making strategic investments.

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Texas Approves Groundbreaking Bitcoin Reserve Bill

The Texas House of Representatives has officially passed Senate Bill 21, a bill that paves the way for the establishment of a state-managed Bitcoin reserve.

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Nasdaq-listed mining firm Stronghold Digital Mining for sale?

Stronghold announced its first quarter results for 2024 and revealed that it is considering a range of options to increase shareholder value including selling the business.

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Amber Premium Launches $100M Reserve for Crypto Growth

Key Takeaways: Amber International Holding Limited, operating under the Amber Premium brand, has formally announced the launch of a groundbreaking $100 million Crypto Ecosystem Reserve. This initiative is not simply a traditional investment fund; it is a strategically designed reserve, enhanced by artificial intelligence, with the objective of dynamically investing in and supporting high-potential blockchain […]

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Strategic Bitcoin Reserve Summit is just one week away!

Bitcoin Events is excited to announce that the highly anticipated Strategic Bitcoin Reserve Summit is just one week away!

The post Strategic Bitcoin Reserve Summit is just one week away! appeared first on Crypto Breaking News.

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Michael Saylor Pauses Bitcoin Purchases as Price Dips Below $87K: A Strategic Move

Michael Saylor, the CEO of MicroStrategy, shared his strategy of holding onto Bitcoin during market drops rather than attempting to time the market by buying and selling. Saylor emphasized the importance of having a long-term approach to investing in Bitcoin, arguing that attempting to predict short-term price movements is a risky strategy. According to Saylor, [...]

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UK trade groups urge government to prioritize crypto as a key strategic initiative

UK trade organizations advocate for prioritizing cryptocurrency Several UK trade bodies are calling for cryptocurrency to be designated as a strategic priority in the country’s financial agenda. With the digital asset industry growing rapidly, these organizations believe that putting a focus on crypto could benefit the UK economy in various ways. The British Chambers of [...]

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Bitcoin At $1 Million? BPI Says One US Move Could Make It Happen

In the latest installment of the Bitcoin Policy Hour, a weekly podcast produced by the nonprofit Bitcoin Policy Institute (BPI), leading members of the organization discussed how a single policy decision by the United States government might catapult the price of Bitcoin to extraordinary new highs. According to Executive Director Matthew Pines, the worlds monetary framework has remained largely the same since 1973, when the global financial system pivoted away from a full gold standard. When you think about the monetary system we currently live in, he said, its been around since 1973 and gone through a number of crises and evolutions, but the fundamental structure of it really hasnt changed. He then pointed out that because nations such as China have emerged as industrial, military, and financial heavyweights, the stability of that long-standing dollar-based system is under challenge in ways not seen in decades. Head of Policy Zach Shapiro added that concerns about losing trust in the US dollar and its reserve assetthe US Treasury securityhave fueled discussions around alternatives. If you want to talk about what else could be a reserve asset, he said, gold is an obvious candidate. He added that since the United States froze Russias Treasury reserves last year, there has been a feeling from central banks around the world that treasuries are becoming less of a neutral reserve asset and so foreign governments have been stacking gold. That could clear some runway for Bitcoin to replace or supplement golds historic roleespecially if the Trump administration announces their first Bitcoin buy. Related Reading: This Bitcoin Pullback Mirrors 2017s Path To Parabolic Highs, Says Analyst When asked about the longstanding policy idea of marking gold to market and using the proceeds to buy Bitcoin, Shapiro explained that formally revaluing Americas statutory gold pricestill set by law at around $42 per ounce even though world markets trade gold above $3,200could generate what he called a large surplus on Treasurys books that we could then spend on stuff. He mentioned that if those proceeds were directed into Bitcoin, it would be a one-time trick that adds almost a trillion dollars to our balance sheet on paper. But why are we doing that and why do we think now is the time? Pines emphasized the global implications. The gold certificates are a subplot in this larger strategic competitive dynamic, he said, referencing ongoing trade friction and technology restrictions between the US and China. When you have the great powers of the world deciding theyre going to up the ante against each other, youll see moves in many domains: tariffs, export controls, currency systems, and yes, monetary assets such as gold and Bitcoin. Discussion then turned to a White House executive order issued in March that formalized the Strategic Bitcoin Reserve and instructed agencies to conduct a Bitcoin audit, with results due to the Presidents Working Group on digital assets. Pines noted that it literally said Bitcoin is digital gold, is in our strategic interest, and that we need a strategic Bitcoin reserve, even though, in his words, people outside the US government at first questioned whether that was real or just a campaign promise. Related Reading: Bitcoin Price Forecast: What Experts Anticipate Following The Jump Toward $85,000 Shapiro confirmed the White House did indeed require each agency to identify which digital assets it currently owns from forfeiture or other means. By statute, they had thirty days to do this, he explained. But that report goes to the Secretary of the Treasury and the Presidents Working Group, not necessarily the public. While the White House order also urged budget-neutral methods of acquiring new Bitcoin, no single agency has yet outlined exactly how they intend to do it. Both Pines and Shapiro said that internal government debates, as well as confusion about what budget neutral means, might slow implementation. It cant impact other budget line items, said Shapiro. But tariffs, for instance, are not something that costs the American taxpayer money directly, and thats one way thats been floated to raise funds for Bitcoin. Selling assets already on the governments balance sheet is another. Thats budget neutral too. If the Trump administration does indeed buy Bitcoin, the price implication could be massive, according to the BPI. Shapiro stated: If the United States announces that we are buying a million Bitcoin, that’s just a global seismic shock. I think that really is a big deal. I think first the Bitcoin price goes through the roof. I think we will probably go very quickly to something like a million dollars per Bitcoin. However, the geo-political could be even greater, Shapiro added: Then you have to wait and see what sort of dominoes fall from that. What are the second order effects of Bitcoin, just being monetized on a faster trajectory than I think a lot of people anticipate. The first is a sort of reaction from other nation states’ reactions […] I suspect that Bitcoin being monetized that strongly and that quickly would have a negative impact on sort of the long-term outlook for gold. At press time, BTC traded at $83,594. Featured image created with DALL.E, chart from TradingView.com

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White House Mulls Bitcoin Reserve Backed by Gold and Tariffs

The Trump administration is exploring creative financing to build a BTC reserve; from trade tariffs to gold certificate adjustments.

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Crypto Pundit Dumps Bitcoin Holdings Sub-$100,000, Lists Reasons Why Its Time To Short

Bitcoin has extended its decline below $90,000 as on-chain data shows whales selling off in massive amounts. This price decline comes amidst the otherwise bullish news of Donald Trump signing an executive order for a Strategic Bitcoin Reserve (SBR). The lack of bullish momentum despite this has brought into play the possibility of an extended bearish move from here.  A well-known crypto analyst, Doctor Profit, has raised alarms about an impending major correction in Bitcoins price. In a detailed post on social media platform X, he outlined his reasons for this shift, arguing that the current market conditions signal the start of the first large Bitcoin correction of this cycle. Strategic Bitcoin Reserve: A Misinterpreted Narrative? Popular crypto analyst Doctor Profit revealed that he is selling a significant portion of his holdings and entering short positions. Notably, the analyst pointed to the recent news surrounding the Strategic Bitcoin Reserve as a key factor that led him to reevaluate his bullish stance. He emphasized that while retail investors see this as a game-changing development, large players and whale investors have already priced in the impact.  Related Reading: Legendary Analyst Peter Brandt Lists 6 Reasons Bitcoin Has Flipped Bullish Many crypto investors expected an accumulation of Bitcoin by the US government in order to strengthen the reserve. However, instead of the expected ensuing buying pressure on Bitcoin, the executive order focused on Bitcoin confiscated from previous seizures, which left bullish investors underwhelmed.  According to Doctor Profit, the decision to sign off on this policy earlier than anticipated signaled a shift in market dynamics. His expectation was that this move would materialize months later, allowing Bitcoins price to sustain upward momentum before the first significant correction. Instead, he now sees this as the primer for a long-term decline. Is This The Beginning Of Bitcoins First Big Correction? Price Levels To Warch Doctor Profit firmly believes that Bitcoin has yet to experience a proper correction in this cycle, noting bull market trends where the asset has seen at least one 40-50% drop before reaching new all-time highs. He sees the recent developments as the final push before a 40% to 50% decline. As such, the analyst noted that this is the ideal window for distributing sell orders and entering short positions. Related Reading: Inverse Head And Shoulders Breakout Suggests Bitcoin Price Is Headed To $300,000 His outlook suggests a retracement to as low as $50,000$60,000 before Bitcoin resumes its long-term bullish trajectory. Breaking down his trading strategy, he disclosed that he has already sold 50% of his Bitcoin holdings, which he accumulated at $16,000. He has placed short orders within the $90,000$102,000 range, with target profits set at $74,000 for the first take-profit level, followed by a complete exit in the $50,000$60,000 region and a full buyback to double holdings. Despite his short-term bearish outlook, the analyst maintains that Bitcoin will eventually rally to new highs in the $120,000$130,000 range.  At the time of writing, Bitcoin is trading at $86,530. Featured image from Unsplash, chart from Tradingview.com

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No Altseason Yet: CZ Weighs In On Altcoins Performance Amid Crypto Market Retrace

Binance co-founder Changpeng Zhao has suggested that the highly anticipated Altseason isnt here yet as most altcoins continue bleeding, while some market watchers consider the worst might be over soon. Related Reading: All Options On The Table: Bitcoin Must Hold This Level Ahead Of Trumps Crypto Summit CZ Says Theres No Altseason Yet On Friday, Changpeng Zhao, also known as CZ, responded to an X user asking when the Altseason will happen. The Binance founder pointed out the price tracking and market data website CoinMarketCap (CMC), which recently added an Altcoin Season Index. CZ highlighted that of the top 100 altcoins, very few have outperformed Bitcoin (BTC) in the past three months, suggesting that the Altseason wont happen yet. As the website states, the CMC Altcoin Season Index page provides real-time insights into whether the cryptocurrency market is currently in Altcoin Season, based on the performance of the top 100 altcoins against the flagship crypto over the past 90 days. Under this metric, an Altseason is in if 75% of the top 100 altcoins outperform BTC during the established period. To CZ, This is a tough ranking system, as he considers that 50 would be a good score for Altcoins. The CMC index page shows a score of 14/100, with only 14 altcoins outperforming BTC since early December. Some of the tokens in this list include Monero (XRM), Hyperliquid (HYPE), Pi (PI), Mantra (OM), Berachain (BERA), and the official Trump memecoin (TRUMP). Leading cryptocurrencies of 2024, like SUI and Solana (SOL), show 37% to 41% price decreases in the past 90 days. Meanwhile, memecoin sensations like dogwifhat (WIF), PEPE, FLOKI, and BONK have bled between 70% and 80% during this period. Analyst Michaël van de Poppe also noted that altcoins have had an overall negative performance on higher timeframes despite some recent price rallies. Massive green day on some Altcoins, they are up 2%! Then, you zoom out, and you zoom out, and you zoom out, he asserted. Altcoins Bottom Could Be Near Altcoin Sherpa stated that altcoins were in about the same or worse positions during the Summer 2024 retrace, pointing out that things were also pretty bleak overall and then we saw some strong bounces in August. However, he noted that, unlike last year, the market doesnt have a Trump Pump coming. Recently, some of the top cryptocurrencies saw a significant price increase after US President Donald Trump announced a strategic reserve that would include SOL, XRP, Cardano (ADA), Ethereum (ETH), and BTC. Nonetheless, after the March 6 executive order establishing a Strategic Bitcoin Reserve and a Digital Asset Stockpile, the White House AI and Crypto Czar, David Sacks, clarified that the previously named altcoins were used as references for the most valuable tokens in the market. Sherpa considers that the markets bottom is close, but we still also probably have the chop period to get through before any substantial recovery. On the contrary, some industry figures have also commented on altcoins overall performance this cycle, suggesting that the Altseason already started but will be different from previous cycles. Related Reading: Stellar (XLM) Price Setting Up For Rally To $1.60 Here Are The Levels To Watch Recently, CryptoQuants founder and CEO, Ki Young Ju, stated that the Altseason had begun. He affirmed there will not be a direct Bitcoin-to-altcoins rotation this cycle, as BTC dominance isnt the key metric that defines it. To the CEO, trading volume is the metric that defines it this time. Ju also pointed out that this will be a very selective and challenging altseason, with only a few altcoins with strong narratives expected to thrive. Featured Image from Unsplash.com, Chart from TradingView.com

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Trump Establishes Strategic Bitcoin Reserve Ahead of Crypto Summit

U.S. President Donald Trump has signed an executive order to create a Strategic Bitcoin Reserve, marking a major shift in the governments approach to digital assets.

The post Trump Establishes Strategic Bitcoin Reserve Ahead of Crypto Summit appeared first on Kanalcoin.

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Donald Trump Takes Action: Establishes Strategic Bitcoin Reserve through Executive Order

Donald Trump recently issued an executive order establishing a strategic Bitcoin reserve. This move highlights the growing importance of cryptocurrency in global economic strategies. The executive order signifies a shift towards recognizing Bitcoin as a valuable asset in times of financial uncertainty. By creating a strategic reserve of Bitcoin, the government aims to secure its [...]

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