Bitcoin price is rallying and gaining international interest.
Looking at the Bitcoin price as we rally Higher yes we took a dip today but as Crypto adoption continues to happen There’s a frenzy of international Interest in this asset class if we want To talk about is this entire bunch of Cryptocurrencies Manisha is here to tell Us more Manisha what’s going on I’ve Also you know been seeing some reports Which just have completely crazy Target Prices on bitcoin and while the bigger News is probably what just happened with Black rock a new filing with ethereum as Well as why is Avalanche pumping why is Polygon pumping why are altcoins pumping This is international interest Bitcoin As we’ve been talking about is trading At the highest since May 2022 but the Last 24 hours absolutely belong to Solana which gained up by nearly 11 to 18% on the higher side it’s now the Sixth largest crypto in sense of Market Capital there and Solana of course is Seen as more efficient cost effective Even more than ethereum and that clearly Has been been the major favorite within The old coins but the revolution that is Happening today on American soil with This upcoming US presidential election This is becoming Mass marketing for Cryptocurrency as all these different Candidates are forced to take a stance On their policy my view on the promise Of Bitcoin though is deeper than that it Is an opt out from the broken Financial Architecture created I have an update From the video we put out about 5 months Ago what every single president Presidential candidate their stance on Bitcoin just in presidential candidate VC ramaswami lays out his three freedoms Of crypto policy framework I got to ask You if you become president of the United States what changes from a crypto Perspective I think what changes is that Regulation by enforcement ends what does That mean that the rules are delineated Clearly in advance rather than you Having to wait for an enforcement action For the SEC to figure out whether or not A given coin was a security or not the Gary Gensler refuses to say today for Example about ethereum what also changes Is that any unconstitutional regulation Not just as it affects crypto this is Part of a broader administrative State Reform for me but any regulation that Congress did not expressly given agency The power to pass is null and void it Turns out that applies to most Regulations governing the crypto Industry so first and foremost clear Regulations which I like and I’ll get to Other candidates in a minute again we’ll Cover everything so you have all the Information but Number One V says he Will protect code AS freedom of speech And I I put these into three categories For the areas of reform that I’ve laid Out one is the freedom to code it’s my View that code is speech and while it’s Perfectly appropriate for the government To go after Bad actors if you take the Tornado cach example going Upstream for The actual developers of the code that’s Wrong you got to draw the distinction Between the code itself which is Protected versus people who misuse it to Steal that’s something that’s not Happening today that’s freedom of speech Is is principle number one it’s the Freedom to code principle number two is Financial self-reliance I’ll give you The punch line here there’s a lot that That’s behind it but the punchline is Self-hosted wallets should not be Touched I mean that’s part of the Jeffersonian Jacksonian vision of Financial self-reliance and Independence We can’t have a regulatory apparatus That effectively creates self-hosted Wallets and prevents them from being Able to exist so that’s Point number two So selfhosted wallets are just regular Def crypto wallets now there’s custodial And non-custodial non-custodial like a Metamask like anything you control are Self-hosted while custodial would be Like the coin bases or an exchange where They hold your keys they say it’s yours But they’re really in control and then Point number three is just the freedom To innovate and I say this is somebody Who comes from multiple different Regulated Industries in the past the wet Blanket on American innovation isn’t Even Congress it’s the regulatory State That’s making up its own rules Regardless of the laws that actually Exist in this country and so we’ll Rescind all of those unconstitutional Federal Regulations we’ll downsize the Federal employee headcount by 75% which I think is a good thing a lot of these Toxic regulation and enforcement action Come from the fact that if you have a Bunch of people showing up to work who Shouldn’t have had that job in the first Place they find things to do will put an End to that and the good news about all Of this is these are things I can get Done as the US president without asking Congress for permission or for Forgiveness because this relates to the Executive branch many people do not know This that the United States is one of The largest Bitcoin holders in the world So obviously Satoshi owns a lot the Winkl vi twins own a lot exchanges are Big holders but because of criminal Confiscations and hacks the US Department of Justice in public wallets Which we can check have been quietly Accumulating and holding Bitcoin so it’s No wonder after all the rumors all the Speculation Black Rock officially files For a spot ethereum ETF with the SEC the Form S1 comes a week after Black Rock Registered their ishares ethereum trust Entity with the Delaware state that’s Exactly what Larry thinkink did before He registered his Bitcoin ETF and if/ When approved this will be listed on NASDAQ if you hold ethereum you’ll like This according to James seert who is a Lead Analyst at Bloomberg intelligence Ethereum has achieved commodity status But the SEC won’t admit it the SEC and Share Gary Gensler won’t publicly Acknowledge that ethereum is a commodity But multiple actions since 2018 show They implicitly accept its commodity Status he lists multiple examples why And then how this affs su he says that If the SEC officially declared ethereum A security that would likely lead to a Duel with the cfdc which the SEC doesn’t Want Bloomberg intelligence expects the SEC to treat ethereum more like Bitcoin And approve a spot ethereum ETF in 2024 Hey why is polygon pumping well you can Always tune in to altcoin daily and find Out just in yesterday polygon proof of Stake chain processed 6.71 million Transactions that’s the highest amount Of daily transactions for polygon since October 2021 also looking at net inflows When compared to the other major Blockchains new compared to all Blockchains polygon POS and polygon ZK Evm have recorded the highest net inflow Over the last 24 hours beating Avalanche Beating optimism coming in a 1 and two And also major news news as we shared in Yesterday’s video polygon deck volumes Are up over 200% in the last 30 days now Why is this happening well as explained By one of the founders of polygon sand Deep he says I hear there’s some game Baby shark launching could that be the Reason someone told me just now that the Minting stopped and we might go back to Less crazy levels so just understand That Matrix like this will probably Level off but also understand this Represents actual Building Development Use on boarding onto the network due to Specific deps and big announcement Tether plans major expansion into BTC Mining with a $500 million investment so This is tether the stablecoin company And they have Ambitions to reach 1% of BTC mining computing power under their New CEO and their new facilities in South Africa Africa will be part of the Push the company will build mining Facilities in Uruguay Paraguay and El Salvador as it grows its computing power To 1% of the BTC mining Network so they Will not let price go down bitcoin’s Network will only get stronger and if You’re asking why is Avalanche pumping Avalanche pumps 14% after…
Bitcoin price rally
Bitcoin’s price has been experiencing a significant rally, capturing the attention of both investors and the general public. It is no longer just a niche asset, but a global phenomenon that is gaining international interest. This surge in interest can be attributed to several factors, such as increased adoption, growing institutional involvement, and market confidence.
Bitcoin gaining international interest
Bitcoin’s growing popularity is not limited to a particular country or region. It has become a global phenomenon, attracting the attention of investors and individuals from all around the world. The decentralized nature of Bitcoin appeals to many who are looking for an alternative to traditional financial systems.
As governments and central banks continue to print money and devalue fiat currencies, people are seeking refuge in Bitcoin as a store of value and a hedge against inflation. Especially in countries facing economic instability or political unrest, Bitcoin offers a decentralized and secure means of preserving wealth.
Increase in Bitcoin price
One of the most noticeable aspects of the current Bitcoin rally is the increase in its price. Bitcoin has seen significant price appreciation over the past few months, reaching new all-time highs. This price surge can be attributed to various factors, including increased adoption, institutional investment, and retail investor interest.
Institutional investors, such as hedge funds and asset management firms, have started to allocate a portion of their portfolios to Bitcoin. This increased institutional demand has created a supply-demand imbalance, driving the price up. Additionally, high-profile endorsements from influential individuals and corporations have helped boost public interest in Bitcoin.
The scarcity of Bitcoin, with only 21 million coins ever to be mined, also contributes to its price appreciation. As more individuals and institutions recognize the long-term value proposition of Bitcoin, the demand for this limited supply asset increases, leading to higher prices.
Rise in Bitcoin adoption
Bitcoin adoption has been on a steady rise, with more businesses, individuals, and institutions accepting and using Bitcoin as a form of payment. Major companies like Tesla, PayPal, and Square have embraced Bitcoin, allowing their customers to transact using the cryptocurrency.
Furthermore, countries like El Salvador have adopted Bitcoin as legal tender, paving the way for increased mainstream acceptance. This move by El Salvador has sparked discussions and debates about the future of cryptocurrencies and their role in the global economy.
As more people become familiar with Bitcoin and its potential benefits, adoption is likely to continue growing. The convenience, security, and financial freedom offered by Bitcoin make it an attractive option for individuals looking for alternatives to traditional banking and payment systems.
Solana’s growth in the market
While Bitcoin has been grabbing headlines, the cryptocurrency market has seen remarkable growth in other digital assets as well. One notable example is Solana, a blockchain platform that has experienced a recent price surge.
Solana’s recent price surge
Solana’s price has skyrocketed in the last 24 hours, gaining nearly 11 to 18%. This impressive surge has drawn attention to Solana as it emerges as a strong contender in the cryptocurrency market. Solana’s robust performance can be attributed to its unique features and advantages over other blockchain platforms.
Solana becomes sixth-largest cryptocurrency
The surge in demand for Solana has propelled it to become the sixth-largest cryptocurrency based on market capitalization. This significant achievement showcases the growing interest and confidence in the project. Investors and traders are recognizing Solana’s potential as a promising cryptocurrency with strong fundamentals.
Factors contributing to Solana’s growth
Several factors have contributed to Solana’s rapid growth in the market. One key factor is its scalability and high transaction throughput. Solana’s innovative technology allows it to process thousands of transactions per second, rivaling traditional payment systems. This scalability makes Solana a promising platform for building decentralized applications and supporting large-scale adoption.
Additionally, Solana’s low transaction fees and fast confirmation times make it an attractive choice for users and developers. The platform’s efficient consensus algorithm and advanced infrastructure enable seamless and cost-effective transactions.
Furthermore, Solana has fostered a vibrant and active community, attracting developers, entrepreneurs, and investors. The strong and supportive ecosystem around Solana has contributed to its growth and widespread adoption.
Overall, Solana’s recent price surge and rise in market capitalization highlight its potential as a leading cryptocurrency. As the cryptocurrency market continues to evolve, Solana’s unique features and growing ecosystem position it for further growth and success.
US presidential candidates and cryptocurrency policies
The upcoming US presidential election has brought forth discussions and debates about cryptocurrency policies. Various candidates have expressed their stance on cryptocurrencies, including Vivek Ramaswamy, who has put forward a comprehensive crypto policy framework.
Vivek Ramaswamy’s crypto policy framework
Vivek Ramaswamy, a US presidential candidate, has laid out a crypto policy framework that emphasizes the importance of clear regulations, freedom to code, financial self-reliance, and the freedom to innovate.
Ramaswamy proposes clear regulations that are delineated in advance, rather than relying on enforcement actions to interpret the rules. This approach provides clarity for businesses and individuals operating in the crypto industry, allowing for innovation and growth.
Importance of freedom to code
Ramaswamy recognizes the importance of the freedom to code and considers it a form of protected speech. By protecting developers’ rights to create code, Ramaswamy aims to foster innovation and ensure that the government does not stifle technological advancements.
Ramaswamy distinguishes between the code itself, which should be protected, and the misuse of code by bad actors. This approach strikes a balance between enabling innovation and holding individuals accountable for their actions.
Financial self-reliance in crypto policy
Another key aspect of Ramaswamy’s crypto policy framework is the emphasis on financial self-reliance. He believes that individuals should have the freedom to control and manage their own funds, including the use of self-hosted wallets. By promoting self-hosted wallets, Ramaswamy aims to empower individuals and promote financial independence.
Emphasis on freedom to innovate
Ramaswamy recognizes that excessive regulation can stifle innovation in the crypto industry. As a result, he plans to rescind unconstitutional federal regulations and downsize the federal employee headcount. This approach aims to create a more favorable environment for innovation by eliminating unnecessary bureaucracy and red tape.
Overall, Ramaswamy’s crypto policy framework highlights the importance of clear regulations, freedom to code, financial self-reliance, and the freedom to innovate. If elected president, Ramaswamy’s policies could provide a supportive environment for the crypto industry, fostering growth and innovation.
US Department of Justice and Bitcoin holdings
The United States is one of the largest holders of Bitcoin globally, with the US Department of Justice accumulating and holding a significant amount of Bitcoin.
US as one of the largest Bitcoin holders
While Bitcoin is decentralized and operates on a peer-to-peer network, various entities, including governments, hold significant amounts of Bitcoin. The United States is among the top holders of Bitcoin, alongside individuals like Satoshi Nakamoto, the mysterious creator of Bitcoin, and institutional investors.
Accumulation and holding of Bitcoin by US Department of Justice
The US Department of Justice has been quietly accumulating and holding Bitcoin as part of its operations. Publicly accessible wallets associated with the Department of Justice showcase its holdings. This accumulation of Bitcoin reflects the growing recognition and acceptance of cryptocurrencies by governmental institutions.
Implications of US government’s Bitcoin holdings
The US government’s ownership of Bitcoin has various implications for the cryptocurrency market and the broader economy. First, it demonstrates the government’s acknowledgment of Bitcoin’s legitimacy as an asset class. This recognition further validates Bitcoin as a store of value and a potential hedge against inflation.
Additionally, the government’s Bitcoin holdings could play a role in shaping future cryptocurrency regulations. As more governmental institutions acquire and hold Bitcoin, it is likely that regulators will take a more nuanced approach towards cryptocurrencies, considering their potential economic and financial impact.
BlackRock’s application for an Ethereum ETF
BlackRock, one of the world’s largest asset management firms, has officially filed for a spot Ethereum exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC).
BlackRock’s official filing for Ethereum ETF
BlackRock’s filing for an Ethereum ETF marks a significant milestone in the cryptocurrency market. An ETF allows investors to gain exposure to a particular asset or asset class without directly owning it. This filing indicates BlackRock’s recognition of Ethereum as a legitimate investment opportunity and its potential for long-term growth.
Significance of BlackRock’s involvement in the cryptocurrency market
BlackRock’s involvement in the cryptocurrency market carries substantial weight, given its reputation and size. As one of the largest asset management firms globally, BlackRock’s entry into the cryptocurrency space signals growing institutional interest and acceptance.
The involvement of well-established financial institutions like BlackRock contributes to the overall maturation and legitimacy of the cryptocurrency market. It adds credibility to cryptocurrencies, increasing their appeal to a wider range of investors, including traditional and institutional players.
Expected impact of Ethereum ETF approval
If approved, BlackRock’s Ethereum ETF could have a significant impact on the cryptocurrency market. It would provide retail and institutional investors with a convenient and regulated avenue to invest in Ethereum. This increased accessibility could lead to a surge in demand for Ethereum, potentially driving up its price.
Furthermore, an approved Ethereum ETF could pave the way for additional cryptocurrency ETFs, enabling investors to diversify their portfolios and gain exposure to different digital assets. Overall, BlackRock’s Ethereum ETF filing marks a crucial step towards mainstream adoption and recognition of cryptocurrencies as valuable assets.
Polygon’s surge in transactions and net inflows
Polygon, a popular blockchain platform, has experienced a significant surge in daily transactions and net inflows, indicating growing interest and utilization of the network.
Increase in daily transactions for Polygon
Polygon’s blockchain platform has seen a substantial increase in daily transactions recently. The number of transactions processed on the Polygon network has reached an all-time high, surpassing previous records. This surge in transactions points to the growing adoption and usage of Polygon’s infrastructure.
Net inflows to Polygon cryptocurrency
In addition to increased transaction volume, Polygon has witnessed significant net inflows to its native cryptocurrency, MATIC. More investors and users are acquiring and holding MATIC tokens, indicating confidence in the platform’s potential and long-term value.
Reasons behind the growth of Polygon
There are several factors contributing to the growth of Polygon. One key factor is its scalability and low transaction fees. Polygon offers a high-performance infrastructure that allows for fast and cost-effective transactions, making it an attractive choice for developers and users.
Additionally, Polygon has established itself as a leading platform for decentralized finance (DeFi) applications. Its interoperability and compatibility with Ethereum make it an ideal choice for developers looking to build scalable and efficient DeFi solutions.
Furthermore, Polygon’s active and engaged community has played a crucial role in its growth. The platform’s community members contribute to its development, provide support, and foster innovation. This vibrant ecosystem continues to attract developers and users, further fueling the expansion of Polygon.
Overall, the surge in transactions and net inflows to Polygon highlight the platform’s increasing popularity and utility within the cryptocurrency market. As more projects and users recognize the potential of Polygon’s technology, its growth is likely to continue.
Tether’s investment in Bitcoin mining
Tether, a leading stablecoin issuer, has announced plans to invest $500 million in Bitcoin mining. The company aims to achieve 1% of Bitcoin’s mining computing power through this investment.
Tether’s plan to invest $500 million in Bitcoin mining
Tether’s decision to invest a substantial amount in Bitcoin mining demonstrates its commitment to the cryptocurrency industry. By allocating funds towards mining, Tether aims to strengthen the Bitcoin network and secure the stability of its USDT stablecoin.
Objective to achieve 1% of BTC mining computing power
Tether’s goal of reaching 1% of Bitcoin’s mining computing power signals its desire to become a significant player in the mining sector. By attaining a significant share of the mining network, Tether not only enhances the security of the Bitcoin blockchain but also positions itself as a key participant in the crypto mining industry.
Potential impact of Tether’s investment in the mining sector
Tether’s investment in Bitcoin mining could have significant implications for both the mining sector and the broader cryptocurrency market. By injecting a substantial amount of capital into mining operations, Tether could contribute to the overall growth and decentralization of the mining network.
Additionally, Tether’s involvement in mining strengthens its ties to the Bitcoin ecosystem, further solidifying its position as a leading player in the cryptocurrency industry. This move showcases Tether’s commitment to maintaining the stability and integrity of its stablecoin while supporting the underlying blockchain network.
Avalanche’s rise in value after JP Morgan news
Avalanche, a blockchain platform known for its high-performance capabilities, has experienced a significant rise in value following news of JP Morgan’s adoption of the Avalanche blockchain.
Avalanche’s recent price surge
Avalanche’s price has surged in the wake of JP Morgan’s announcement, demonstrating the market’s positive response to the news. The increased value of Avalanche tokens reflects growing investor confidence and interest in the project and its underlying technology.
JP Morgan’s adoption of Avalanche blockchain
JP Morgan, one of the world’s largest financial institutions, has adopted the Avalanche blockchain for portfolio tokenization. This decision by JP Morgan showcases its recognition of the advantages offered by Avalanche and its confidence in the platform’s ability to handle complex financial operations.
Portfolio tokenization using Avalanche blockchain
Avalanche’s blockchain technology allows for efficient tokenization of portfolios, facilitating the seamless transfer and management of assets. JP Morgan’s adoption of Avalanche demonstrates the platform’s potential in revolutionizing the financial industry by introducing blockchain solutions for traditional financial instruments.
Manny Pacquiao’s partnership with Shiba Inu
Boxing legend Manny Pacquiao has announced a partnership with Shiba Inu, one of the most popular meme-based cryptocurrencies.
Announcement of partnership between Manny Pacquiao and Shiba Inu
Manny Pacquiao’s collaboration with Shiba Inu has created a buzz in the cryptocurrency community. Pacquiao, known for his boxing career and philanthropic work, brings his global influence and brand to Shiba Inu, increasing its visibility and credibility.
Importance of the collaboration for Shiba Inu
The partnership with Manny Pacquiao provides Shiba Inu with an opportunity to expand its reach and attract new users. Pacquiao’s global fan base and reputation as a respected figure in the sports industry contribute to Shiba Inu’s overall brand recognition and credibility.
Additionally, Pacquiao’s involvement with Shiba Inu reinforces the growing relationship between the sports and cryptocurrency industries. This collaboration highlights the increasing mainstream acceptance and adoption of cryptocurrencies among public figures and celebrities.
Expected benefits for Manny Pacquiao
Manny Pacquiao’s partnership with Shiba Inu not only expands his brand but also opens up new opportunities in the cryptocurrency space. By associating with a popular and fast-growing cryptocurrency like Shiba Inu, Pacquiao can tap into the cryptocurrency market and potentially explore new business ventures or investment opportunities.
Overall, the partnership between Manny Pacquiao and Shiba Inu represents the growing intersection between sports and cryptocurrencies. By leveraging his global influence, Pacquiao can contribute to the adoption and acceptance of cryptocurrencies, further driving their mainstream integration.
Conclusion
The recent developments in the Bitcoin and cryptocurrency market highlight the growing interest and adoption of digital assets worldwide. Bitcoin’s rally, international interest, and increased adoption underscore its role as a disruptive force in the financial world.
Additionally, the growth and achievements of projects like Solana, Polygon, and Avalanche demonstrate the advancements and potential of blockchain technology. These projects are pushing the boundaries of decentralized finance and creating new opportunities for innovation and development.
Moreover, the involvement of prominent institutions like BlackRock and JP Morgan signifies the increasing mainstream acceptance and integration of cryptocurrencies into traditional financial systems. The emergence of partnerships between public figures like Manny Pacquiao and cryptocurrencies further contributes to the overall growth and adoption of digital assets.
As the cryptocurrency market continues to evolve, it is essential to recognize and explore the various factors impacting its growth. From government policies to institutional involvement and technological advancements, these factors shape the landscape of the cryptocurrency market and pave the way for further innovation and adoption.
