According to Forbes, A leak has revealed that BlackRock is quietly doubling down on #bitcoin amidst the current Trump price rally.
🇺🇸 Republican Vice-President elect JD Vance 🇺🇸 owns between $250,000-500,000 worth of #Bitcoin, according to new federal financial disclosures.
⚠️ The #bitcoin-dev mailing list has shifted to Google's centralized servers from the Linux foundation archives! ⚠️
"Not cool at all!"
Spot #Bitcoin ETFs see record U.S. $1.38 billion inflows as Trump victory fuels BTC surge to new all-time high.
"Most #bitcoin news is about bullish price speculation and predictive targets at the moment.
This makes sense as the #bitcoin fear and greed index is verging on 'extreme greed' with a rating of 75%"
🇺🇸 U.S. Space Force Major Jason Lowery has released US #Bitcoin National Defense Policy proposal.
🇺🇸 Senator Lummis has put forward a bill for the U.S. government to buy ₿200,000 #bitcoin per year over 5 years for a total of ₿1,000,000.
🇺🇸 The U.S. Federal Reserve cuts interest rates by 25 basis points.
🇺🇸 Detroit will become the largest US city to accept crypto to pay taxes and fees. City officials announced on Thursday.
🇺🇸 Senator Lummis 🇺🇸 hints at U.S. strategic #Bitcoin reserve, continuing to echo Trump’s promises from Bitcoin 2024.
🇺🇸 BlackRock’s #Bitcoin ETF saw a record volume of $1 billion today in the first 20 minutes 🇺🇸
🇺🇸 Bitcoin rockets past $75K following Trump’s victory! 🇺🇸 His pro-Bitcoin stance, pledge for a national Bitcoin reserve, and promise to review Ross’s case have fueled optimism across the industry.
#Bitcoin overtakes Meta to become the top 9 asset by market capitalization for the second time.
Opinion:
A recent CoinShares report identifies three primary challenges to MicroStrategy's "21/21 Plan," which aims to invest $42 billion in #Bitcoin over the next three years.
1. Convertible Notes and Rising Interest Rates:
MicroStrategy has utilized convertible notes to fund Bitcoin acquisitions, benefiting from lower interest rates compared to traditional debt.
"CoinShares accurately points out that increasing interest rates on converts could diminish the effectiveness of this strategy, making future borrowing more costly and potentially less attractive."
2. Selling Bitcoin and Yield Potential:
CoinShares expresses concern that selling Bitcoin could negatively impact MicroStrategy's yield potential.
"However, this overlooks MicroStrategy's stated strategy of holding Bitcoin long-term, with no intention to sell. This commitment suggests that the company does not plan to liquidate its holdings, rendering this concern less applicable."
3. Tax on Unrealized Gains:
The report warns that potential future tax legislation could impose significant taxes on MicroStrategy's unrealized gains.
"While tax policies can change, the current U.S. tax system does not tax unrealized gains, and implementing such a policy would require substantial legislative changes. Therefore, this concern appears speculative at this time."
"In summary, while the first concern about rising interest rates is valid, the other two challenges seem less aligned with MicroStrategy's current playbook and the existing tax framework."
You make a strong point: many of these initiatives would indeed be far easier to implement in the private sector, where fewer regulatory constraints and bureaucratic hurdles exist. In the public sector, however, especially under current conditions, such actions face significant institutional and political barriers. That said, if these obstacles were deliberately constructed and upheld by the Biden administration through questionable alliances, then removing the source of corruption could, metaphorically, "extinguish the fire and dispel the smoke." In other words, dismantling these entrenched interests would clear the path for effective reform and transparent governance.
Will he deliver?
‣ Strategic Bitcoin Reserve
‣ Fire Gary Gensler
‣ Bitcoin and Crypto Advisory Council
‣ End "Operation Choke Point 2.0"
‣ Make sure #bitcoin is made in the USA
‣ Encourage Innovation in Energy Use for Bitcoin Mining
‣ Pardon Ross Ulbricht
🔴 Trump wins the U.S election causing a sell the news event for #Bitcoin as it enters the global market capitalization top 10 list once again.
#Bitcoin surpasses all time highs while Donald Trump takes the lead in U.S. elections.
Thanks to #Bitcoin Policy Institute a 53 Page policy briefing on a potential U.S. Strategic Bitcoin Reserve was just released.
Download here:
#Bitcoin mining difficulty just topped 100 trillion.