Connect with us

Bitcoin

pistas apontam para um aumento massivo

Chain Feed Staff

Published

5 months ago

on

The $800,000 Bitcoin price prediction: clues point to a massive upsurge

O preço do Bitcoin poderá atingir US$ 800.000 em breve? Descubra as pistas ocultas e as previsões de especialistas que preveem um aumento massivo.

Bitcoin (Bitcoin) mais uma vez ganhou as manchetes na semana passada ao ultrapassar a marca de US$ 70.000 devido a um aumento na pressão de compra.

Em 7 de junho, o BTC atingiu uma máxima de US$ 71.907, pouco antes da indescritível marca de US$ 72.000. Este nível de preços provou ser um forte ponto de resistência, conforme mostrado por um pico semelhante de US$ 71.900 em 21 de maio.

Apesar desses ganhos impressionantes, o BTC tem lutado para manter seu ímpeto, sendo negociado a US$ 69.400 em 10 de junho, marcando um declínio de 6% em relação ao seu máximo histórico de US$ 73.750, alcançado em 14 de março.

O que está impulsionando essas flutuações? De acordo com um CoinShares relatórioos produtos de investimento em criptografia tiveram quase US$ 2 bilhões em entradas na semana passada, estendendo um período de cinco semanas para mais de US$ 4,3 bilhões.

Este aumento na actividade de investimento reflecte-se no volumes de negociação de produtos negociados em bolsa (ETPs), que subiram para US$ 12,8 bilhões na semana, um aumento de 55% em relação à semana anterior. Notavelmente, o Bitcoin liderou esse frenesi de investimentos, com entradas de mais de US$ 1,97 bilhão.

Os dados regionais são igualmente reveladores. Os EUA dominaram o cenário de entrada com US$ 1,98 bilhão na semana passada. Notavelmente, o primeiro dia da semana registou a terceira maior entrada diária alguma vez registada.

Enquanto isso, os produtos vendidos em Bitcoin tiveram saídas pela terceira semana consecutiva, totalizando US$ 5,3 milhões.

As entradas substanciais e os crescentes volumes de negociação sugerem um forte interesse e confiança dos investidores no potencial do Bitcoin. No entanto, a resistência na marca de US$ 72.000 indica que o mercado ainda está testando as águas.

Para onde vai o Bitcoin a seguir? Será que finalmente superará a resistência de US$ 72.000 ou veremos mais da mesma volatilidade? Vamos nos aprofundar nesta análise e ver o que dizem as previsões de preços do Bitcoin.

Fatores que afetam a previsão do preço do Bitcoin

Gatilhos macroeconômicos

Os gatilhos externos, especialmente os dados macroeconómicos dos EUA, mostraram que podem mudar o caminho do Bitcoin num instante.

Portanto, esta semana é crucial, com dois eventos chave dominando o cenário: a decisão da Reserva Federal sobre a taxa de juros e a divulgação do Índice de Preços ao Consumidor (IPC) de maio.

Por que esses eventos são tão importantes? Bem, a divulgação do CPI e a reunião do Federal Open Market Committee (FOMC) estão agendadas para o mesmo dia. Isto cria o que os traders chamam de “golpe duplo” para a volatilidade do mercado.

A semana passada nos deu uma ideia de como o mercado pode estar agitado. Os dados de emprego nos EUA foram muito mais fortes do que o esperado e o preço do Bitcoin caiu quase 2% quase imediatamente.

O popular trader CrypNuevo descreveu dois cenários possíveis para a reação do Bitcoin aos próximos dados.

No Cenário 1, o Bitcoin pode se recuperar da queda da semana passada no início desta semana, consolidar-se até o anúncio do FOMC e, finalmente, ajustar-se com base no que o Fed diz.

No Cenário 2, o FOMC pode neutralizar diretamente a queda da semana passada, com o Bitcoin simplesmente consolidando e varrendo os mínimos até então.

Apesar do burburinho, as expectativas do mercado quanto às mudanças na política do Fed permaneceram consistentes.

De acordo com a ferramenta FedWatch do CME Group, é amplamente acreditava que o FOMC não reduzirá as taxas este mês. Poderão ser necessárias mais algumas reuniões antes que o Fed siga outros bancos centrais no corte das taxas.

13 de junho é mais um dia para marcar no seu calendário. Os EUA divulgarão o Índice de Preços ao Produtor (PPI) juntamente com os pedidos semanais de seguro-desemprego.

Como salientou a CrypNuevo, os dados económicos provocam frequentemente reacções imediatas no mercado, mas estes movimentos tendem a ser reconstituídos mais tarde, tal como vimos com os dados de emprego da semana passada.

Endosso de Ricardo Salinas Pliego

Ricardo Salinas Pliego, um empresário mexicano com uma fortuna avaliada em mais de US$ 14 bilhões e proprietário do Grupo Salinas, há muito tempo é um defensor declarado do Bitcoin.

Recentemente, ele aconselhou seus seguidores no X a comprar Bitcoin e capitalizar sua valorização.

Seu conselho surge num momento em que a moeda nigeriana teve o pior desempenho em relação ao dólar americano, o que levou a medidas governamentais para estabilizá-la, incluindo repressões aos operadores de criptografia.

O endosso de Salinas Pliego não é novo. Em 2021, ele declarou sua lealdade ao Bitcoin, descrevendo-o como “ouro para o mundo moderno” e defendendo suas “propriedades extraordinárias”.

Ele até mencionou trabalhar para tornar o Banco Azteca, seu banco, a primeira instituição no México a aceitar Bitcoin.

Além disso, em 2022, ele deu a entender que o Grupo Elektra, uma rede de lojas de departamentos do Grupo Salinas, poderia começar a vender mercadorias Bitcoin.

Spot BTC ETFs absorvendo nova oferta

Outro fator-chave que atualmente molda o preço do Bitcoin é o aumento na demanda impulsionado pelo spot ETF BTC nos E.U.A

Segundo dados do HODL15Capital, na primeira semana de junho, esses ETFs adquiriram 25.729 BTC, o equivalente a cerca de dois meses de Bitcoin recém-extraído.

Esse volume de compra, totalizando aproximadamente US$ 1,83 bilhão, é quase oito vezes os 3.150 BTC extraídos no mesmo período.

As entradas substanciais em ETFs de Bitcoin, que acumularam US$ 15,69 bilhões em entradas líquidas desde seu lançamento em janeiro, sugerem a forte demanda e o crescente interesse institucional no Bitcoin.

Notavelmente, os ativos sob gestão de ETF Bitcoin (AUM) já atingiram cerca de 60% do AUM dos ETFs de ouro, apesar dos ETFs Bitcoin existirem há apenas cinco meses, em comparação com as duas décadas dos ETFs de ouro.

Algo grande está acontecendo

Em meio a esse recente mercado altista, o burburinho atual gira em torno dos enormes US$ 12 bilhões em shorts de Bitcoin de até US$ 74.000, conforme destacado por Oliver L. Velez em seu recente tópico X.

Outros analistas do X também compartilharam a mesma opinião e esperam uma grande mudança.

De acordo com Oliver, as empresas de Wall Street estão mergulhando no mercado de Bitcoin com grandes posições vendidas, mas isso não é necessariamente um movimento de baixa. Em vez disso, é uma jogada estratégica que envolve cobertura e captura de spreads premium através da venda de futuros de Bitcoin enquanto compra Bitcoin à vista.

Então, o que isso significa para o mercado? Para entender, vamos analisar a mecânica.

Quando os investidores institucionais vendem Bitcoin a descoberto, eles vendem contratos futuros, apostando que o preço cairá. No entanto, eles compram simultaneamente Bitcoin à vista, protegendo seu risco.

Esta estratégia dupla permite-lhes lucrar com a diferença de preço entre os mercados futuros e o mercado à vista. Mas é aqui que a coisa fica interessante: Oliver prevê que estas estratégias poderão levar à falência de algumas grandes empresas de Wall Street.

Por que? O Bitcoin não está em conformidade com as regras tradicionais do mercado, como os circuitos superiores e inferiores. Nos mercados de ações tradicionais, os circuitos superior e inferior são mecanismos que interrompem a negociação se o preço de uma ação ultrapassar uma determinada percentagem num dia, evitando volatilidade extrema.

No entanto, o Bitcoin carece desses controles, permitindo movimentos de preços irrestritos. A elevada alavancagem frequentemente utilizada na negociação de Bitcoin significa que mesmo ligeiras flutuações do mercado podem resultar em perdas substanciais.

Se o preço do Bitcoin subir em vez de cair, estas empresas enfrentarão enormes perdas, potencialmente levando a uma curta compressão – uma situação em que os vendedores a descoberto são forçados a comprar de volta o Bitcoin a preços mais elevados para cobrir as suas posições, elevando ainda mais o preço.

Historicamente, as pequenas restrições levaram a aumentos dramáticos de preços. Por exemplo, no início de 2021, o short squeeze da GameStop viu o preço de suas ações disparar de US$ 17 para mais de US$ 480 em semanas. Um cenário semelhante no mercado de Bitcoin poderia fazer os preços dispararem, criando uma grande volatilidade.

O resultado final é que, embora as empresas de Wall Street estejam envolvidas em estratégias comerciais sofisticadas, a natureza única do Bitcoin torna-o um jogo arriscado. Existe o potencial para ganhos massivos, mas também existe o risco de perdas catastróficas.

O que esperar a seguir e previsão do preço do Bitcoin

Olhando para o futuro, o burburinho em torno do Bitcoin não é apenas sobre seu estado atual, mas para onde ele está indo.

Com o Bitcoin se consolidando entre níveis cruciais, um rompimento de US$ 71,7 mil poderia ser enorme, como sugerido por Michaël van de Poppe, um proeminente analista de criptografia. No entanto, é normal ser conservador durante a semana do IPC, uma vez que os factores macroeconómicos desempenham um papel fundamental nos movimentos de preços.

Enquanto isso, de acordo com Ali, outro analista conhecido, os detentores de curto prazo estão desfrutando de uma margem de lucro de 3,35%, indicando um risco mínimo de uma liquidação significativa e sugerindo que o Bitcoin pode estar se preparando para uma mudança substancial.

Outro analista sugere que, historicamente, o Bitcoin exibiu padrões semelhantes aos observados entre 2018-2021 e mesmo 2014-2017, sugerindo uma previsão de preço BTC de US$ 80.000 no curto prazo.

Outras previsões de preço do Bitcoin sugerem que o Bitcoin poderia superar qualquer outro ativo nos próximos 12 a 18 meses, com uma meta conservadora de US$ 170 a 180 mil no pior cenário.

Quando estendemos nosso horizonte para o longo prazo, as previsões criptográficas do Bitcoin tornam-se ainda mais fascinantes. O modelo Stock-to-Flow (S2F) do PlanB, uma ferramenta de previsão amplamente seguida, fornece um cenário de alta para o Bitcoin nos próximos anos.

De acordo com este modelo, a previsão de preço do Bitcoin para 2024 é de US$ 150.000, com uma previsão potencial de preço do Bitcoin para 2025 de US$ 800.000. O modelo sugere uma correção mais moderada nos anos subsequentes, com o Bitcoin se estabilizando em torno de US$ 400.000 até 2026-2028.

No curto prazo, é essencial observar um rompimento acima de US$ 71,7 mil, o que pode sinalizar um movimento ascendente importante. Portanto, você deve permanecer informado e cauteloso e ter em mente que essas previsões muitas vezes dão errado.

Como sempre, uma pesquisa completa e uma abordagem equilibrada são cruciais. Embora o futuro do Bitcoin pareça promissor, a jornada provavelmente será repleta de altos e baixos. Mantenha-se informado e nunca invista mais do que você pode perder.



´Source

Related Topics:
Chain Feed Staff

We are the editorial team of Chain Feed Staff, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on Chain Feed Staff, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Información básica sobre protección de datos Ver más

  • Responsable: Miguel Mamador.
  • Finalidad:  Moderar los comentarios.
  • Legitimación:  Por consentimiento del interesado.
  • Destinatarios y encargados de tratamiento:  No se ceden o comunican datos a terceros para prestar este servicio. El Titular ha contratado los servicios de alojamiento web a Banahosting que actúa como encargado de tratamiento.
  • Derechos: Acceder, rectificar y suprimir los datos.
  • Información Adicional: Puede consultar la información detallada en la Política de Privacidad.

Bitcoin

Grayscale Unveils Bitcoin Mini Trust ETF

Chain Feed Staff

Published

4 months ago

on

31 July, 2024

By

Grayscale Unveils Bitcoin Mini Trust ETF

Bitcoin Currency

Grayscale Investments The Bitcoin Mini Trust began trading on Wednesday with a 0.15% expense ratio, offering a lower-cost option for bitcoin exposure in the market.

The Mini Trust, which has the symbol BTC and trades on NYSE Arca, is structured as a spin-off of the Grayscale Bitcoin Trust (GBTC). New shares will be distributed to existing GBTC shareholders with the fund contributing a portion of its bitcoin holdings to the new product. According to a company press releaseBTC’s S-1 registration statement became effective last week.

“The Grayscale team has believed in the transformative potential of Bitcoin since the initial launch of GBTC in 2013, and we are excited to launch the Grayscale Bitcoin Mini Trust to help further lower the barrier to entry for Bitcoin in an SEC-regulated investment vehicle,” said David LaValle, Senior Managing Director and Head of ETFs at Grayscale.

The Bitcoin Mini Trust’s debut comes amid growing interest in ETFs based on the current price of the two largest cryptocurrencies by market cap, bitcoin and ether. Spot bitcoin ETFs have generated nearly $18 billion in inflows since the first ones began trading on Jan. 11, though GBTC has lost nearly $19 billion in assets.

This fund differs from other funds because it is a conversion of an existing fund and has a 1.5% fee, the highest among spot bitcoin products that have received SEC approval this year.

Mini Bitcoin Trust Low Fee

On a Post X On Wednesday, Bloomberg senior ETF analyst Eric Balchunas noted the Bitcoin Mini Trust’s “lowest fee in the category…”

“[Important] to recognize how incredibly cheap 15bps is — about 10x cheaper than spot ETFs in other countries and other vehicles,” Balchunas wrote, adding that this pricing strategy reflects the competitive nature of the U.S. ETF market, which he referred to as the “ETF Terrordome.”

“This is what Terrordome does to fund [cost]. It reaches 1.5% [and] end in 0.15%, how to go from [a] country club to the jungle. But that’s why all the flows are here, investor paradise,” he noted.

Read more: Spot Bitcoin ETF Inflows Hit Daily High of Over $1 Billion

Bitcoin was recently trading at around $66,350, virtually flat since U.S. markets opened on Wednesday.

Grayscale also offers two spot Ethereum ETFs, the Grayscale Ethereum Trust (ETHE) and the Grayscale Ethereum (ETH) Mini Trustwhose performance is based on ETHE. ETHE outflows exceeded $1.8 billion in its first six days of trading, while ETH added more than $181 million in the same period, according to Farside. The remaining seven ETFs generated about $1.2 billion in inflows.

The story continues

Read more: Spot Ethereum ETFs Approved to Start Trading

Permanent link | © Copyright 2024 etf.com. All rights reserved

´Source

Continue Reading

Bitcoin

Bitcoin (BTC) Price Drops Below $65K After FOMC as Middle East Tensions Rise

Chain Feed Staff

Published

4 months ago

on

31 July, 2024

By

Bitcoin (BTC) Price Drops Below $65K After FOMC as Middle East Tensions Rise

Cryptocurrencies fell sharply on Wednesday as rising geopolitical risks captivated investors’ attention following the conclusion of the Federal Reserve’s July meeting.

Bitcoin (BTC) fell to $64,500 from around $66,500, where it traded following Federal Reserve Chairman Jerome Powell’s press conference and is down more than 2% in the past 24 hours. Major altcoins including ether (ETH)sunbathing (SUN)Avalanche AVAX (AVAX) and Cardano (ADA) also fell, while Ripple’s XRP saved some of its early gains today. The broad cryptocurrency market benchmark CoinDesk 20 Index was 0.8% lower than 24 hours ago.

The liquidation happened when the New York Times reported that Iran’s leaders have ordered retaliation against Israel over the killing of Hamas leader Ismail Haniyeh in Tehran, raising the risk of a wider conflict in the region.

Earlier today, the Fed left benchmark interest rates unchanged and gave little indication that a widely expected rate cut in September is a given. The Fed’s Powell said that while no decision has been made on a September cut, the “broad sense is that we are getting closer” to cutting rates.

While digital assets suffered losses, most traditional asset classes rose higher during the day. U.S. 10-year bond yields fell 10 basis points, while gold rose 1.5% to $2,450, slightly below its record highs, and WTI crude oil prices rose 5%. Stocks also rallied during the day, with the tech-heavy Nasdaq 100 index rebounding 3% and the S&P 500 closing the session 2.2% higher, led by 12% gains in chipmaker giant Nvidia (NVDA).

The different performances across asset classes could be due to traders’ positioning ahead of the Fed meeting, Zach Pandl, head of research at Grayscale, said in an emailed note.

“Equities may have been slightly underutilized after the recent dip, while bitcoin is coming off a strong period with solid inflows, while gold has recovered after a period of weakness,” he said.

“Overall, the combination of Fed rate cuts, bipartisan focus on cryptocurrency policy issues, and the prospect of a second Trump administration that could advocate for a weaker U.S. dollar should be viewed as very positive for bitcoin,” he concluded.

UPDATE (July 31, 2024, 21:30 UTC): Adds grayscale comments.

´Source

Continue Reading

Bitcoin

Donald Trump’s Cryptocurrency Enthusiasm Is Just Another Scam

Chain Feed Staff

Published

4 months ago

on

31 July, 2024

By

Donald Trump's Cryptocurrency Enthusiasm Is Just Another Scam

Former US President Donald Trump spoke at the Libertarian National Convention in May and lent his a strong support to crypto: “I will also stop Joe Biden’s crusade to crush crypto. … I will ensure that the future of crypto and the future of bitcoin is made in the US, not taken overseas. I will support the right to self-custody. To the 50 million crypto holders in the country, I say this: With your vote, I will keep Elizabeth Warren and her henchmen out of your bitcoin.”

Former US President Donald Trump spoke at the Libertarian National Convention in May and lent his a strong support to crypto: “I will also stop Joe Biden’s crusade to crush crypto. … I will ensure that the future of crypto and the future of bitcoin is made in the US, not taken overseas. I will support the right to self-custody. To the 50 million crypto holders in the country, I say this: With your vote, I will keep Elizabeth Warren and her henchmen out of your bitcoin.”

Trump continued to court the cryptocurrency industry in the months that followed; he he appeared at the Bitcoin 2024 Conference in Nashville this week, along with independent presidential candidate Robert F. Kennedy Jr.’s parting words to Trump — “Have fun with your bitcoin, your cryptocurrency and whatever else you’re playing with” — were less than enthusiastic, but the industry itself remains packed with ardent Trump supporters.

This turnaround came as a surprise, given Trump’s previous strong opposition to cryptocurrency. When Facebook was floating its Libra cryptocurrency in 2019, Trump tweeted: “I am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.” Former national security adviser John Bolton’s White House memoir, The Room Where It Happened, quotes Trump as telling Treasury Secretary Steven Mnuchin: “Don’t be a trade negotiator. Go after Bitcoin.” [for fraud].” In 2021, Trump counted Fox Business that bitcoin “just looks like a scam. … I want the dollar to be the world’s currency.”

Why the change? There doesn’t seem to be any crypto votes. Trump’s “50 million” number comes from a poorly sampled push survey by cryptocurrency exchange Coinbase which claimed 52 million cryptocurrency users in the United States starting in February 2023. But one survey A survey conducted last October by the US Federal Reserve showed that only 7% of adults (about 18.3 million people) admitted to owning or using cryptocurrencies — down from 10% in 2022 and 12% in 2021. Many of these people are likely wallet owners who were left holding the bag after crypto plunged in 2022 — and are not necessarily new fans.

What Trump wants from the cryptocurrency industry is money. The cryptocurrency industry has already raised more than US$ 180 million to run in the 2024 US elections through his super PACs Fairshake, Defend American Jobs and Protect Progress.

Fairshake spent $10 million on taking Rep. Katie Porter in the primary battle for Dianne Feinstein’s California Senate seat by funding Porter’s pro-crypto rival Adam Schiff. This put $2 million to knock out Rep. Jamaal Bowman in the Democratic primary for New York’s 16th District in favor of pro-crypto George Latimer. In the Utah Senate Republican primary, Rep. John Curtis defeated Trent Staggs with the help of $4.7 million from Defend American Jobs. In Alabama’s House District 2, the majority of campaign expenses came from the cryptocurrency industry.

Fairshake is substantially financed by Coinbase, cryptocurrency issuer Ripple Labs, and Silicon Valley venture capital firm Andreessen Horowitz, or a16z. Silicon Valley was awash in cryptocurrencies during the 2021 bubble, and a16z in particular continues to promote blockchain startups to this day — and still holds a huge amount of bubble crypto tokens that he wishes he could cash in on.

Many in Silicon Valley would like an authoritarian who they think will let them run wild with money — while bailing them out in tough times. Indeed, Trump promised Bitcoin 2024 participants that he hold all bitcoins that the United States acquires. (Never mind that it is usually acquired as the proceeds of crime.) Silicon Valley explicitly sees regulation of any kind as its greatest enemy. Three a16z manifestos — “Politics and the Future” It is “The Techno-Optimist Manifesto” and 2024 “The Small Tech Agenda—describe co-founders Marc Andreessen and Ben Horowitz’s demands for a technology-powered capitalism unhindered by regulation or social considerations. They name “experts,” “bureaucracy,” and “social responsibility” as their “enemies.” Their 2024 statement alleges that banks are unfairly cutting off startups from the banking system; these would be crypto companies funded by a16z.

Trump’s vice presidential pick, Senator J.D. Vance, is a former Silicon Valley venture capitalist. He was once employed by Peter Thiel, who bankrolled Vance’s successful 2022 Senate run; Vance has been described as a “Thiel creation”. He has increased support for the Trump ticket among his venture capital associates. Vance is a bitcoin holder and a frequent advocate of encryption. He recently released a draft bill to review how the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) control crypto assets. In 2023, he circulated a bill to prevent banks from cutting out cryptocurrency exchanges.

Minimal regulation has been tried before. It led to the wild exuberance of the 1920s, which ended with the Black Tuesday crash of 1929 and the Great Depression of the 1930s. Regulators like the SEC were put in place during this era to protect investors and transform the securities market from a jungle into a well-tended garden, leading to many prosperous and stable decades that followed.

Crypto provides the opposite of a stable and functional system; it is a practical example of how a lack of regulation allows opportunists and scammers to cause large-scale disasters. The 2022 Crypto Crash repeated the 2008 financial crisis in miniature. FTX’s Sam Bankman-Fried was feted as a financial prodigy who would perform economic miracles if you just gave him carte blanche; he ended up stealing billions of dollars of customers’ money, destroying the lives of ordinary people, and is now in a prison cell.

U.S. regulators have long been concerned about the prospect of cryptocurrency contagion to the broader economy. Criminal money laundering is rampant in cryptocurrency; even the Trump administration has made rules in December 2020 to reduce the risk of money laundering from crypto. Meanwhile, the crypto industry has persistently tried to infiltrate systemically risky corners of the economy, such as pension funds.

Four U.S. banks collapsed during the 2023 banking crisis, the first since 2020. Two of them, Silvergate Bank and Signature Bank, were deeply embedded in the crypto world — Silvergate in particular appears to have collapsed directly from its heavy reliance on FTX and failed a few months after that. Silicon Valley Bank was not involved in crypto but collapsed due to a run on the bench due to panic among venture capital deposit holders, particularly Thiel’s Founders Fund.

Project 2025the Heritage Foundation mammoth conservative wish list The plan, which Trump and Vance have both endorsed and tried to distance themselves from at various times, emphasizes the importance of party loyalists, noting especially financial regulation. The plan recommends replacing as much of the federal bureaucracy as possible with loyalists and “trusted” career officials rather than nonpartisan “experts.” Vance defended in 2021 that Trump should “fire every mid-level bureaucrat, every civil servant in the administrative state” and “replace them with our people.” Loyalty will likely trump competence.

Crypto is barely mentioned directly in Project 2025 — suggesting it has little active support among the broader conservative coalition. But near the end of the manifesto is a plan to dismantle most U.S. financial regulations and investor protections put in place since the 1930s, suggesting the exemption the crypto industry seeks from current SEC and CFTC regulations.

Bitcoin, the first cryptocurrency, started as an ideological project to promote a strange variant of Murray Rothbard’s anarcho-capitalism and the Austrian gold-backed economy—the kind we abandoned to escape the Great Depression. Crypto quickly co-opted the “end of the Fed” and “establishment elites” conspiracy theories of the John Birch Society and Eustace Mullins. It’s a way for billionaire capitalists like Thiel, Andreessen and Elon Musk to claim they’re not part of the so-called elite.

If a second Trump administration were to limp along with financial regulators and allow cryptocurrencies to have free rein, it could help foster the collapse of the U.S. economy that bitcoin claimed to prevent. But Trump is more likely to be happy to take the crypto money and run.

´Source

Continue Reading

Bitcoin

Trump’s Bitcoin (BTC) Reserve Plan Seen as Just a ‘Small Token Stash’

Chain Feed Staff

Published

4 months ago

on

31 July, 2024

By

Trump's Bitcoin (BTC) Reserve Plan Seen as Just a 'Small Token Stash'

Donald Trump’s recent promise to create a “strategic national stockpile of Bitcoin” may not turn out to be as big a commitment as the hype surrounding the announcement makes it seem.

“Trump’s proposal is extremely modest,” said George Selgin, director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institutea Washington-based public policy group. “It doesn’t have much economic implication.”

´Source

Continue Reading

Trending

Copyright © 2024 CHAINFEED.INFO. All rights reserved. This website provides educational content and highlights that investing involves risks. It is essential to conduct thorough research before investing and to be prepared to assume potential losses. Be sure to fully understand the risks involved before making investment decisions. Important: We do not provide financial or investment advice. All content is presented for educational purposes only.