The son of US President-elect Donald Trump said that Bitcoin will continue to soar and made an audacious prediction that it will reach $1 million per coin. Related Reading: Tether’s USDT Hits New High—330 Million Wallets And Counting Trump Organization Vice President Eric Trump vowed that his father and their family will not cease their support of the firstborn cryptocurrency. Cornerstone Of A Financial Revolution Eric believes that Bitcoin being traded at $1 million per coin may happen soon, describing the crypto as the “cornerstone of a financial revolution.” COMMENT: Eric Trump is confident that Bitcoin will hit $1M. https://t.co/iFb5cmzpFz — BSCN (@BSCNews) December 10, 2024 Trump’s son made the fearless forecast as he talked to the attendees of the Bitcoin MENA 2024 conference in Abu Dhabi on December 9, delivering his prediction to the audience without any taint of doubt on the capability of Bitcoin to hit that milestone. “I can tell you a hell of a lot more eyes are going to be opened when Bitcoin hits $1 million. And I’m confident it’s going to hit $1 million. I think we’re all confident in this room that it’s going to hit a million,” Eric stated. According to Eric, he sees Bitcoin as a “global asset”, pointing out the global significance of the crypto in a time wherein the threat of inflation, political instability, and natural disasters is rampant. For the Trump Organization’s vice president, the future of finance is Bitcoin, arguing that the crypto is a powerful hedge against the traditional financial system’s inefficiencies because of its decentralized quality and fixed supply of 21 million coins. “Bitcoin eliminates the need for tens of thousands of bankers pushing paperwork for exorbitant fees,” he added. More Accessible Financial Tool Eric noted that what makes Bitcoin successful as a global asset is its accessibility, adding that crypto does not need intermediaries such as banks or brokers in its transactions. Trump’s son stressed the global appeal of cryptocurrency and how user-friendly is the digital asset as compared to traditional real estate investments. “Unlike real estate, Bitcoin is not tied to geography. It’s global, instantly liquid. You can buy or sell it while having dinner with your spouse,” Eric explained. Moreover, Eric emphasized that Bitcoin could empower people in developing nations. “Bitcoin gives everybody the opportunity around the world to participate in ways they never otherwise would have thought, no matter their wealth, no matter their location,” he remarked. Related Reading: HBAR To Hit $100? Analyst Points To Utility And Market Cap Potential Trump Family To Support Bitcoin Eric vowed that his father and their entire family would continue to advocate cryptocurrency, pledging they would keep on playing an essential role in the global financial landscape. He remarked that his father, Donald Trump, helped fuel the recent surge in the alpha cryptocurrency, adding that he will lead the United States into the “digital revolution.” Eric Trump said that the people, governments, and institutions who embraced Bitcoin will become the biggest winners in the digital revolution. Featured image from DALL-E, chart from TradingView
$2.9 billion in Bitcoin liquidations happened in December, but the flush out is preparing BTC for new highs.
Ripple’s XRP is one of the most-talked-about tokens right now, thanks primarily to its erratic price action, a possibly favorable Securities and Exchange Commission (SEC), and potential benefit to the global financial system. Related Reading: Bitcoin State: Florida Pensions Take $1.85 Billion Leap Into Crypto Unlike other tokens, Ripple’s XRP aims to serve the banking […]
The rivalry between two respected tech giants continues, which is evident in a congratulatory post that might have reignited the rift between the two former allies in AI tech. SpaceX CEO Elon Musk took a swipe at his rival, OpenAI CEO Sam Altman, after the latter congratulated David Sacks for being nominated by US President-elect Donald […]
Bitcoin was once worth so little that thousands of BTC were given away for free, but each one is now worth roughly $100,000 and is the most valuable cryptocurrency ever.
On Dec. 6, US President-elect Donald Trump announced on Truth Social that David Sacks has been named the “White House AI and Crypto Czar. ” In his new role, Sacks will lead efforts to establish a legal framework for crypto regulation and chair the Presidential Council of Advisors for Science and Technology. Essentially, the appointment positions him […]
The post Donald Trump appoints David Sacks to lead AI and crypto policy in new administration appeared first on CryptoSlate.
Donald Trump has appointed former PayPal operating chief David Sacks, known for co-hosting the “All In” podcast, as his top AI and crypto adviser.
President-elect Donald Trump is reportedly considering appointing prominent figures with pro-crypto stances to lead the Commodity Futures Trading Commission (CFTC), an agency poised to play a pivotal role for the digital assets industry. This move aligns with Trump’s campaign promises to transform the United States into the “crypto capital of the planet” and a “Bitcoin […]
Curve clocked annualized revenues of nearly $37 million during the past 30 days, according to Token Terminal.
Historically, markets outperform after presidential elections and then stall once the President-elect takes office, data shows.
Now that incoming US President Donald Trump is warming up for his second administration, many in the crypto industry expect big things for tech and crypto. According to Cathie Wood of Ark Investment Management, Trump’s win will spur innovation in artificial intelligence, tech, and cryptocurrencies. Related Reading: Michael Saylor’s Thanksgiving: A Feast Featuring Bitcoin-Topped Turkey […]
The research firm considers ETH an attractive investment opportunity, citing rising investor interest relative to Bitcoin.
Donald Trump’s election victory, an anticipated conclusion to the SEC lawsuit and an expected stablecoin project may have contributed to the XRP price surge.
While many crypto community members celebrated Donald Trump’s reelection, some may have felt differently.
The incoming heads of the newly established Department of Government Efficiency (D.O.G.E.) have an ambitious plan of slashing federal agencies’ spending by $2 trillion, locking in its crosshairs several agencies for sweeping budget cuts. Related Reading: Storm Ahead? Bitcoin Price Could Tumble 20% Due To M2 Supply Concerns One of the D.O.G.E. leaders, Tesla CEO Elon Musk, said that he targets to reduce federal spending on the Internal Revenue Service (IRS). Targeting The IRS The dynamic duo of Musk and Vivek Ramaswamy vowed to orchestrate a spending cut on federal agencies, aiming to reduce the federal budget by $2 trillion. The D.O.G.E. leaders said that they will pursue budget cuts on federal agencies which they consider as bloated or outdated. Musk said that one of these government agencies is the IRS, saying, “The IRS is a mess.” The Tesla CEO pointed out that the IRS has been plagued with inefficiency and scandals for years while suggesting a free tax filing app and the conduct of an audit. He also wanted to lay off a huge number of employees, reducing what he believed was “administrative overgrowth.” In a poll on X, Musk asked the netizens what the budget of the IRS should be. The federal agency is requesting an additional $20 billion in funds. The IRS just said it wants $20B more money. Do you think it’s budget should be: — Elon Musk (@elonmusk) November 27, 2024 “The IRS just said it wants $20B more money. Do you think its budget should be: Increased, Same, Decreased, Deleted,” he said. The poll results showed that 60.6% of the respondents wanted to delete the IRS budget while 29.9% voted to decrease the budget. Meanwhile, 5.6% said they are in favor of increasing the budget while 3.9% agreed that it should remain the same. Other Agencies In The Crosshair Musk and Vivek are eyeing to scrutinize the budget of multiple federal agencies to cut government spending. The duo also targets another watchdog agency for financial practices, the Consumer Financial Protection Bureau (CFPB). Musk recommended deleting the CFPB, raising concerns about the future of the agency. For Vivek, he wanted “mass reductions” in the Department of Education. President-elect Donald Trump has been calling for the dismantling of the department for many years now and it seems that it will happen in his return to the White House. Vivek Eyes Budget Cut On Defense Vivek also slammed the enormous budget of the Department of Defense, saying that the Pentagon wastes around $125 billion annually on bureaucracy. However, the $3.6 billion defense contract of the Musk-owned SpaceX seems to be exempted from the budget-slashing program of D.O.G.E. Several critics have argued that D.O.G.E.’s functions overlap with other existing agencies, claiming that the government efficiency department might only be a redundancy. Related Reading: Crypto Bloodbath: Over $500 Million Liquidated As Bitcoin Slides To $92K – Report The Role Of D.O.G.E. D.O.G.E. is meant to make government work easier. The name is a reference to Dogecoin, which shows how important Musk is in Trump’s government. Musk’s role in this department has caused people to wonder how it might affect Dogecoin’s value and reputation in the market. After Trump won the election, Dogecoin’s value went up a lot. This was because Musk is working with the new government and has a history of promoting the cryptocurrency. Reports say that talking about D.O.G.E. at campaign meetings has caused Dogecoin prices to rise. This shows that there is a direct link between political events and how the meme coin market reacts to them. Featured image from Dimitrios Kambouris/Getty Images for The Met Museum, chart from TradingView
A well-known gold advocate denounced MicroStrategy’s investment plan to purchase more Bitcoin and build up its crypto reserve. Peter Schiff, a vocal critic of the firstborn cryptocurrency, also slammed the pro-crypto stance of President-elect Donald Trump, arguing that it is detrimental to the country. Related Reading: Is Bitcoin Suriname’s Future? Presidential Candidate Makes Bold Pitch […]
Bitcoin’s journey from idea to reality (and near six figures) has been amazing, and Hemi co-founder Jeff Garzik says the network is ready for its next growth stage.
Donald Trump’s crypto project is getting a pump from TRON’s founder, Justin Sun. Bloomberg reports that Justin Sun, TRON’s founder, has announced that the company has approved a $30 million investment in Trump’s World Liberty Financial crypto project. Related Reading: Crypto Cowboys Unite: Texas Senator Eyes State Resources For Bitcoin Growth In a Twitter/X post, […]
Justin Sun has purchased $30 million worth of tokens from Donald Trump’s World Liberty Financial, making him the largest investor to date.
The DOGE price top could be in, despite constant endorsements from Elon Musk and the general outperformance from most memecoins.
Terraform Labs’ near $4.5 billion settlement with the SEC has contributed to a record year for the agency’s financial penalties.
According to stablecoin firm Tether, over $134 billion USDt tokens are circulating across various blockchain protocols as of November 2024.
After weeks of intense speculation, incoming US President Donald Trump has named Scott Bessent his Treasury Secretary pick. The drawn-out selection process has attracted many popular names, including Howard Lutnick of Cantor Fitzgerald, former Federal Reserve governor Kevin Warsh, and billionaire Marc Rowan. In the end, Trump went for Bessent, and this decision immediately garnered […]
Commissioner Jaime Lizárraga of the Securities and Exchange Commission will step down on January 17th, three days before incoming US President Donald Trump’s inauguration. In an interview with Bloomberg Law, the former congressional aide said he plans to leave the SEC to spend more time with his family and attend to the needs of his […]
When it comes to formulating policies and regulations for the cryptocurrency space, there is no better choice than appointing someone who has a great understanding of the ins and outs of digital assets. This is the conviction of Cardano founder Charles Hoskinson as he nominated Coinbase executive, Brian Armstrong, to be the “Crypto Czar” of […]
President-elect Trump promised the establishment of a strategic Bitcoin ‘stockpile’ during the Bitcoin 2024 event in Nashville Tennessee.
Bitcoin continues its price explosion this Thursday, hitting a new all-time high and breaking the $97,000 barrier during intra-day trading. The crypto asset’s price then spiked 5.7%, reaching $97,811 on Bitstamp, boosting its market cap to $1.93 trillion. Related Reading: XRP On Fire: Over 90% Weekly Growth Catapults Altcoin To Fresh 2-Year High The recent surge in Bitcoin’s value is not just a market trend, but a reflection of the growing optimism surrounding incoming US President Donald Trump’s potential crypto-friendly policies and his pick for the Securities and Exchange Commission (SEC) chief. This optimism has led to a 3% increase in the cumulative cryptocurrency market cap, now standing at $3.37 trillion. The 24-hour trading volume on Thursday saw a 5% increase, reaching $ 190 billion. Bullish Trend Thanks To Trump’s Win The obvious sign of the optimistic trend in the bitcoin market: its price has more than doubled this year. The whole industry has joined the upward surge, contributing an amazing $900 billion to the total crypto market capitalization. Given that Bitcoin is barely $3,000 short of the $100,000 milestone, the sector is bursting with hope about what the next few weeks can bring for the digital asset. According to Edu Patel, CEO of Mudrex, Bitcoin’s price last year was $30,000. Today, the asset’s price surged to more than $97,000, reflecting a growth of over 300%. Patel said several factors are pushing Bitcoin’s price, including Trump’s election and optimism over his pick as chairman of the SEC, and his friendly crypto policies. In addition, he also acknowledged the growing institutional participation in Bitcoin options and ETFs. Is Trump Planning A Special Position To Oversee Crypto? The recent price surge of Bitcoin underscores the growing importance of the asset and cryptocurrency to the economy. The Trump administration has also signaled the possibility of creating a specific office to oversee the administration’s cryptocurrency policies. According to some sources, the president’s team is currently considering this office, and many crypto execs are jockeying for an audience with the president. 1/ MicroStrategy just convinced investors to pay $520,234 per Bitcoin That’s the biggest Bitcoin play I’ve ever seen: pic.twitter.com/yeZfGlcm6j — ELI5 of TLDR (@explain_briefly) November 20, 2024 Institutional Adoption, MicroStrategy’s Bitcoin-First Policy Boost Price Some experts also attribute Bitcoin’s recent run to MicroStrategy’s bold “Bitcoin-first” policy. Michael Saylor of MicroStrategy has doubled down on this approach and purchased additional BTC to boost its portfolio. Other companies have followed suit and are planning to add the asset to their inventories. Related Reading: Solana Market Cap Hits Milestone: $400 Price Target Gains Traction The growing popularity of Bitcoin ETFs also helps, and the market currently benefits from the introduction of options trading. According to multiple sources, more than $4 billion has flowed into Bitcoin ETFs since the November elections. Also, this week, Reuters reports that BlackRock is off to an exciting start with its BTC ETFs with call options. Featured image from Pixabay, chart from TradingView
Bitcoin exchange-traded funds now collectively manage approximately $104 billion, and are on track to surpass gold ETFs in net assets.
The strategic Bitcoin reserve could set up Bitcoin’s price for an over $1 million valuation this market cycle, according to Adam Back
In a recent interview with FOX Business, Brad Garlinghouse, CEO of Ripple Labs, shared insights on the so-called “Trump trade” impacting crypto prices, as evidenced by Bitcoin’s recent streak of consecutive all-time highs over the past 48 hours. Garlinghouse also discussed how Ripple, and the broader digital asset industry, fit into the upcoming regulatory landscape expected under President-elect Donald Trump in the coming year. Ripple CEO Optimistic About Trump’s Pro-Crypto Stance Garlinghouse emphasized that since its inception, Ripple has focused on addressing the inefficiencies of traditional cross-border payments, which he described as “slow and expensive.” By utilizing XRP, the company aims to streamline these transactions, making them faster and more cost-effective. However, the CEO criticized the Biden administration’s stance on digital assets, referring to it as an “unlawful war” against the industry. He expressed optimism that with Trump’s pro-crypto approach, the landscape may be transforming. Related Reading: BlackRock Bitcoin ETF Options Surge: December 20 Call Signals BTC Price Target Of $180,000 When asked about the potential for increased revenue opportunities in the US under the upcoming regulatory changes, Garlinghouse explained that the US Securities and Exchange Commission’s (SEC) lawsuit against XRP had effectively “frozen” Ripple’s market potential in the country. Currently, 95% of Ripple’s customer base is located outside the US, with Garlinghouse pointing out that the company cannot fully realize growth in a market where regulatory clarity is lacking. Garlinghouse observed that while the cryptocurrency industry is flourishing in countries like China, Japan, the UK, and Switzerland, the US has lagged behind in embracing digital assets. Ripple’s CEO expressed hope that the anticipated deregulation under Trump would lead to clearer guidelines, allowing agencies like the SEC and the Commodity Futures Trading Commission (CFTC) to play a constructive role in shaping the industry. Garlinghosue criticized the existing regulatory framework, particularly the application of the Howey Test, which he believes fails to adequately address the unique characteristics of the crypto sector. He also underscored the need for updated regulations that reflect the realities of an industry that has developed significantly over the past decade. US As Digital Asset Hub In Coming Years During the interview, FOX Business highlighted comments from Coinbase’s Chief Policy Officer, Faryar Shirzad, regarding the private meeting between Trump and Brian Armstrong, CEO of Coinbase. Shirzad noted that Trump has expressed a willingness to engage with the crypto industry, fostering a vision for the US to become the global leader in digital assets. Garlinghouse echoed these sentiments, recognizing Coinbase’s influential role in advocating for the cryptocurrency agenda during the election campaign. Related Reading: Bitcoin Rally Driven By U.S. Coinbase Investors – Top Analyst Shares Metrics As speculation mounts regarding potential candidates for the SEC chair position under Trump—names like Dan Gallagher, Teresa Goody, and Commissioner Mark Uyeda have surfaced—Garlinghouse emphasized the importance of the new chair working collaboratively with Congress to address regulatory gaps that contribute to confusion in the market. Garlinghouse concluded with an optimistic outlook, stating that he believes a new era for cryptocurrency is on the horizon in the US. He envisions the country becoming a central hub for digital assets and blockchain technology over the next five to ten years. At the time of writing, XRP is trading at $1.10, marking a massive 104% surge in just two weeks since Trump’s election victory. However, the token is still trading 67% below its all-time high of $3,040, which it reached nearly seven years ago. Featured image from DALL-E, chart from TradingView.com