Latest news with #Bitcoin2024
Gulf Insider
23-06-2025
- Business
- Gulf Insider
Strategy's Michael Saylor Raises Bitcoin forecast
Bitcoin bull and Strategy founder Michael Saylor has doubled down on the long-term value of BTC amid fast-changing geopolitical and cryptocurrency adoption took the stage with a keynote speech at the BTC Prague 2025 event on Saturday, predicting that the price of Bitcoin would hit $21 million in 21 years. 'I think we're going to be $21 million in 21 years. It's a very special time in the network. Maybe the one time in the history of the network where you look out 21 years and you see $21 million,' Saylor stated. Source: Michael Saylor Saylor's latest bullish Bitcoin prediction is a massive increase from his previous forecast made at the Bitcoin 2024 conference in Nashville last year, when he predicted that Bitcoin would hit $13 million by 2045. In the keynote, Saylor reasoned his growing bullishness on the Bitcoin market with many geopolitical, regulatory and adoption developments, which he said nobody conceived last year. 'Stuff that's happened in the past 11 months has been extraordinary. The White House has embraced Bitcoin. This is an extraordinary development. We didn't anticipate this,' Saylor said. Saylor emphasized that he has always been bullish on Bitcoin, even when it plummeted to $16,000 in the last crypto winter, but Donald Trump's presidential victory last November 'brought a sea change in politics,' he stated. Michael Saylor at the BTC Prague on June 21, 2025. Source: Trezor 'Although we thought we might have a pro-Bitcoin president, we didn't think we'd get a strategic Bitcoin reserve. We didn't think that the president would say America would be the Bitcoin superpower of the world. This is an amazing development,' Saylor added. The Strategy founder also mentioned growing regulatory and legislative developments around crypto, referring to three crypto-related bills progressing in the US, including the stablecoin-focused Genius Act, the Digital Asset Market Clarity Act and the Bitcoin Act. 'This is something nobody guessed, no one conceived of a year ago. States in the United States are embracing Bitcoin,' Saylor said. Also read: Coinbase CEO Fears Bitcoin Replaces Dollar If US Debt Grows As Elon Musk Calls For Firing Of 215 Republicans
The Star
16-06-2025
- Business
- The Star
Trump Media seeks SEC approval for bitcoin and ethereum ETF
FILE PHOTO: Republican presidential nominee and former U.S. President Donald Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee, U.S., July 27, 2024. REUTERS/Kevin Wurm/File Photo (Reuters) -Trump Media & Technology Group is seeking to launch an exchange-traded fund that will invest in both bitcoin and ethereum, the two largest cryptocurrencies, according to a filing with the U.S. Securities and Exchange Commission on Monday. This marks the second cryptocurrency ETF filing from the social media company associated with President Donald Trump in less than two weeks. If approved, the Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF would join a crowded and competitive market already dominated by a handful of established asset managers such as BlackRock, whose iShares Bitcoin ETF has $72.5 billion in assets. "It will be a challenge for any new entrant in this market," said Bryan Armour, ETF analyst at Morningstar. "The only way to stand out will be through fees or brand." The filing for the new bitcoin and ethereum ETF does not disclose proposed fees, and Trump Media has yet to reveal fees for the bitcoin ETF. Similar products have fees of 0.12%. Trump Media representatives did not immediately respond to a request for comment. Armour noted that the latest filing spells out a specific allocation ratio between bitcoin and ethereum. The issuer, Yorkville America Digital, said it initially anticipates holding three bitcoins for every ethereum token in the ETF. "There is little that is different about this new venture other than the way it could be marketed," said Sui Chung, CEO and chairman of CF Benchmarks. "Given Truth Social's involvement, it may very well be that (these) are marketed directly to individual investors and that this ends up getting attention from those investors in the same way that people who love their iPhones buy Apple stock." (Reporting by Suzanne McGee in New York and Manya Saini in Bengaluru; Editing by Shilpi Majumdar and Rod Nickel)
CNBC
28-05-2025
- Business
- CNBC
JD Vance tells bitcoin conference that stablecoins don't threaten the dollar
LAS VEGAS — Vice President JD Vance used his position on stage at the biggest bitcoin conference of the year to push the Trump administration's efforts on stablecoin legislation, touting its potential benefits to the U.S. economy. "In this administration, we do not think that stablecoins threaten the integrity of the U.S. dollar. Quite the opposite," Vance said, in his keynote at Bitcoin 2025 in Las Vegas on Wednesday. "We view them as a force multiplier of our economic might." Months after a successful campaign for the White House that was heavily funded by the crypto industry and less than a year after then-candidate Donald Trump spoke at Bitcoin 2024 in Nashville, Tennessee, Vance reiterated the message that the Trump-Vance administration is pursuing a decidedly pro-crypto agenda. Stablecoins, which are designed to have a stable value against a non-crypto asset, usually the U.S. dollar, are a big topic at the moment as Republicans attempt to pass the GENIUS Act, a bill that would regulate the digital asset. The legislation was cleared a key procedural vote in the Senate last week, due to support from 15 Democrats, but still could face an uphill battle in the House, which has its own proposed bill for stablecoin regulation. David Sacks, President Trump's top crypto and AI advisor, told CNBC last week that the market is flush with over $200 billion in stablecoins that are unregulated, and that a legal framework "could create trillions of dollars of demand for our Treasuries practically overnight." Democrats previously rejected the GENIUS Act in part on concern that President Trump's personal cryptocurrency ventures, including his own meme coin and a stablecoin from his family's crypto business, created an unprecedented conflict of interest. Vance didn't address that issue on Wednesday from the stage at the Venetian, but he did joke that he wasn't just complimenting the crowd to "juice my own meme coins." Rather, he focused on the value in legitimizing stablecoins. "Dollar-pegged stablecoins, particularly once GENIUS is enacted, is only going to help the American economy," Vance said. "And it's only going to help the American dollar." The event in Las Vegas is expected to attract 35,000 attendees. In addition to using the occasion to promote stablecoin legislation, Vance applauded the administration's creation of a strategic bitcoin reserve and its efforts to roll back regulations. Vance disclosed that he owns "a fair amount of bitcoin today," and he took a shot at former SEC Chairman Gary Gensler, who has become a regular punching bag for many lawmakers and crypto executives. "We fired Gary Gensler — and we're going to fire everyone like him," Vance said. Prior to Vance's keynote, the Department of Labor rescinded 2022 guidance that had discouraged cryptocurrency investments in retirement plans. Labor Secretary Lori Chavez-DeRemer said that fiduciaries, not bureaucrats, should decide whether crypto belongs in 401(k) plans. The rollback is part of a broader effort to bolster digital assets. Banks can now custody crypto, after the repeal of a key accounting rule known as SAB 121. The Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency also rescinded their anti-crypto guidance, and the Federal Reserve has partially followed suit.
Yahoo
28-05-2025
- Business
- Yahoo
Trump Media plans $2.5 billion bitcoin reserve
Donald Trump'a media company has announced plans to establish a bitcoin reserve by selling $2.5 billion (£1.85bn) of its stock to institutional investors. The Trump Media and Technology Group, which operates the Truth Social platform, said about 50 institutional investors will put up $1.5 billion in the private placement for common shares in the company and another $1 billion for convertible senior notes Trump Media said it intends to use the proceeds for the creation of a 'bitcoin treasury', with chief executive Devin Nunes describing the cryptocurrency as 'an apex instrument of financial freedom'. He added: 'Trump Media will hold cryptocurrency as a crucial part of our assets.' Industry figures have said the move reflects bitcoin's transition from a fringe asset, to one endorsed by the highest levels of government. 'Trump Media raising $2.5bn to buy bitcoin reflects a broader trend: publicly traded companies are waking up to the idea that holding debasable dollars is a liability – and bitcoin, money that cannot be debased, is the solution,' Joe Burnett, director of market research at crypto firm Unchained, told The Independent. The announcement is the latest potential conflict of interest, which has seen Trump pursuing policies while in public office that may financially benefit his business interests. Trump, who referred to cryptocurrencies in his first term as 'not money,' citing volatility and a value "based on thin air," has shifted his views on the technology. During an event at his Mar-a-Lago club in Florida during his presidential campaign in May 2024, Trump received assurances that crypto industry backers would spend lavishly to get him reelected. Last week, Trump rewarded 220 of the top investors in one of his other cryptocurrency projects – the $Trump meme coin – with a swanky dinner luxury golf club in Northern Virginia, spurring accusations that the president was mixing his duties in the White House with personal profit. Trump has received significant support from the crypto industry since appearing at the Bitcoin 2024 conference in Nashville last July, during which he pledged to be the first 'crypto president'. Vice President JD Vance is scheduled to speak at the Bitcoin 2025 conference in Las Vegas on Wednesday. Additional reporting from agencies
Int'l Business Times
20-05-2025
- Business
- Int'l Business Times
Bitcoin Champion Sen Cynthia Lummis Cancels Meeting With Ripple CEO, $XRP Tumbles
Cynthia Lummis Sen. Cynthia Lummis, R-Wyo., reads the draft of the "Bitcoin reserve bill" at Bitcoin 2024 conference in Nashville. Bitcoin Magazine YouTube | Cynthia Lummis Unveils Bitcoin Strategic Reserve Bill Bitcoin Magazine on YouTube / Screenshot Garlinghouse urged Lummis to reconsider her stance and "be a leader for all of crypto" Bitcoin maximalists slammed the Ripple CEO for criticizing Lummis in public $XRP holders said it appears Lummis doesn't want a level-playing field in the crypto industry Sen. Cynthia Lummis, R-Wyo., has canceled a meeting with Ripple CEO Brad Garlinghouse, dashing hopes for a potential shift in dynamics in the long-running power struggle between the Bitcoin and XRP communities. Garlinghouse took to X on Monday to reveal that Lummis, known for championing a national strategic Bitcoin reserve, "canceled a meeting" with him and will not reschedule. Ripple CEO calls out Lummis In his Monday revelation, Garlinghouse said he was heading to the Capitol "to champion sensible pro-crypto legislation around stablecoins and market structure." As he has done in the past, the Ripple leader called for open-mindedness when it comes to politicians dealing with the cryptocurrency industry. He specifically called on Lummis to reconsider her stance. "As a leader in Congress and Senator from one of the most crypto-friendly states (WY), I hope you will reconsider and be a leader for all of crypto," he wrote. Heading to DC to champion sensible pro-crypto legislation around stablecoins and market structure, and I'm very encouraged to see our elected officials look at crypto as it should be – a multichain industry. That said, @SenLummis, as Chair of the Digital Assets Subcommittee,… — Brad Garlinghouse (@bgarlinghouse) May 19, 2025 Despite his subtle jab at the Bitcoin-friendly senator, who also chaired the Senate's Digital Assets Subcommittee, Garlinghouse said it was still encouraging to see that some government officials "look at crypto as it should be – a multichain industry." This was hardly the first time Garlinghouse criticized "maximalism," a term used by crypto users to refer to crypto holders who believe a specific digital coin is the only digital asset the world will need in the future. $XRP dips amid news XRP, the world's current fourth-largest crypto asset by market capitalization, retreated Monday after news of the canceled meeting spread across crypto communities. Data from CoinGecko showed that XRP prices plunged as low as $2.30 from trading at around $2.38 earlier in the day. Despite the price dip, XRP remains in the green, climbing by 0.6% in the last 24 hours. Ripple oversees the development of the XRP Ledger, whose native cryptocurrency is XRP. There has been an ongoing war of words between BTC maximalists and the XRP Army, which has often pushed Bitcoin and XRP to trend on social media. $BTC maximalists, $XRP army clash on X On X, where the bitter word war among top crypto communities has triggered questions on unity in the space, another exchange of words emerged from Garlinghouse's revelation. Prominent BTC maximalist Pierre Rochard blasted Garlinghouse for his alleged push for central bank digital currencies (CBDCs). "Nobody takes you seriously anymore," the Bitcoin Bond Company CEO said. You ruined your reputation and lost all credibility by pushing for CBDCs and against Bitcoin. Nobody takes you seriously anymore. — Pierre Rochard (@BitcoinPierre) May 19, 2025 Chainlink community liaison Zach Rynes said Garlinghouse shouldn't have called out Lummis publicly, saying it doesn't help improve crypto's relationship with politicians. Very weird tweet, if she didn't want to take a private meeting, why call her out publicly? That's not going to help relations, and why offer an even more public livestream discussion? — Zach Rynes | CLG (@ChainLinkGod) May 19, 2025 Other prominent crypto users encouraged Lummis to take up Garlinghouse's offer to discuss the broader crypto space with the Ripple CEO through an X Spaces session. That would be a great X space, @SenLummis! — Vet (@Vet_X0) May 19, 2025 Some also encouraged Lummis to join advocacy groups that provide advice on pro-crypto policies. Others in the XRP community said Lummis may want "an unfair advantage for Bitcoin" since a level-playing field for all crypto firms and projects might threaten the world's most valuable cryptocurrency. Why would @SenLummis cancel a meeting? Perhaps she wants an unfair advantage for Bitcoin. A level playing field is too threatening for Bitcoin, perhaps. — 🪝 (@DarkScarf89) May 19, 2025 @bgarlinghouse's spot on. If the U.S. wants to lead in crypto, open dialogue between the public and private sectors is non-negotiable. Refusing to meet sends the wrong message, and slows real progress. This is a multichain, global industry. Policy needs to reflect that. — JDNomax (@JDNomax) May 19, 2025 The official X handle of the Rowen Exchange agreed that Garlinghouse was right for publicly revealing Lummis's cancelation of the meeting, indicating growing demand for political interest in other crypto coins and companies outside the Bitcoin brand. Thank you for calling this out. This needed to be said — Rowen Exchange (@RowenExchange) May 19, 2025 Lummis has yet to respond to concerns around her supposed favor of BTC and rejection of other crypto projects. © Copyright IBTimes 2024. All rights reserved.
