Recently, the US Department of Justice announced approval to sell 69370 bitcoins, worth approximately $6.5 billion, seized from the dark web marketplace Silk Road. This decision has aroused widespread concern and discussion in the market, especially in the context of the upcoming re appointment of President elect Trump. Trump made it clear during the election campaign that the government would establish a "Bitcoin reserve" and promised to "never sell" the seized Bitcoin. Therefore, this ruling not only involves fluctuations in the cryptocurrency market, but also relates to future government cryptocurrency policies. The "Bitcoin Strategic Reserve Act" has gained bipartisan consensus and supports the purchase of 1 million bitcoins with federal funds The US Department of Justice (DOJ) obtained...
Cryptocurrency powers hold legislative power, but the Federal Reserve remains a hindrance According to reports, the Senate Banking Committee is preparing to announce the establishment of the first subcommittee specifically responsible for digital assets. The Republican Party currently controls the Senate and House of Representatives, and Trump will begin his second term under the leadership of a unified government. Therefore, the Republican Party's control over both houses has opened up a clearer path for the passage of cryptocurrency friendly legislation. Based on previous efforts, the subcommittee may focus on stablecoins. Its goal is to create a regulatory framework that supports the development of the industry while managing potential risks. Senator Tim Scott prioritized the cryptocurrency subcommittee and appointed Cynthia Lummis...
In the long run, the rise of Bitcoin is actually facing a risk that has recently become a hot topic in the stock market, but most cryptocurrency investors may not have paid attention to: quantum computing. This emerging technology has attracted attention from all walks of life after Google announced this month that its new Willow quantum computing chip has made a breakthrough. After Willow's release, Google's stock price immediately soared, with a 10% increase within two days. The price of Bitcoin fell in response, dropping by 6% at its lowest point. In 2019, Google used a 54 bit quantum computer called Sycamore to demonstrate "quantum superiority," which means that quantum computers have exponential computing power over classical computers. At...
Against the backdrop of the booming global cryptocurrency market, on December 9, 2024, Binance founder Zhao Changpeng presented a stunning viewpoint at the Bitcoin MENA conference in Abu Dhabi: China may become one of the countries establishing Bitcoin reserves. In the context of the upcoming implementation of the US Bitcoin Strategic Reserve Plan, Zhao Changpeng's viewpoint is particularly noteworthy. All parties are considering its possibilities and potential impacts, and the future direction is full of suspense and variables. Zhao Changpeng stated that Bitcoin, known as "digital gold" due to its scarcity and decentralized characteristics, is increasingly favored among investment groups. Compared to traditional legal tender and financial instruments, its value preservation efficiency is more outstanding. The Bitcoin reserve strategy is...
According to the latest market size report from Crypto.com, the number of holders in the global cryptocurrency market has increased significantly in the first half of this year. As of June, the number has increased by 6.4% from 580 million at the end of 2023 to 617 million. This data not only highlights the vigorous vitality of the cryptocurrency market, but also indicates the huge potential of this field in the future. So, what exactly is driving this wave of cryptocurrency craze?The report points out that with the continuous advancement of technology and the increasing richness of cryptocurrency applications, more and more investors are pouring into this market. They not only regard cryptocurrency as an investment tool, but also...
