Recent fluctuations in Bitcoin’s price highlight how markets can overreact to potential issues, like trade wars. Though there was a notable 6.5% drop in the S&P 500, Bitcoin’s dip below $83,000 is expected to be temporary, as traders remain confident in the crypto Market‘s stability. While many investors are shifting towards cash and bonds in ...
On March 7, US President Donald Trump will hold the first White House Crypto Summit to engage industry leaders in discussions about cryptocurrency regulations, stablecoin oversight, and Bitcoin’s role in the US economy. The summit, led by White House crypto czar David Sacks and executive director Bo Hines, will feature prominent figures from the crypto ...
The United States is considering adopting a Bitcoin reserve as individual states increasingly embrace cryptocurrency. Matthew Sigel, Chief of Digital Assets Research at VanEck, emphasizes that this strategy could enhance U.S. economic dominance by positioning it as a leader in innovation and technology. Sigel believes that a Bitcoin reserve would not only act as a ...
Bitcoin faced a turbulent day on January 10, plunging $1,500 due to stronger-than-expected US nonfarm payroll data. This report indicated a healthy labor Market, which raised concerns about potential delays in interest rate cuts by the Federal Reserve. Analysts noted that the likelihood of a rate cut in January was now just 2.7%, prompting a ...
This year, Bitcoin’s price soared past $100,000, bringing attention to the idea of a strategic Bitcoin reserve, similar to the Strategic Petroleum Reserve. Proposed in the Bitcoin Act of 2024, this reserve aims to support the struggling U.S. economy and national debt management. Advocates like Michael Saylor suggest it could create significant wealth for the ...
Macro expert Luke Gromen argues that the U.S. may need to elevate Bitcoin to a neutral reserve asset, especially in light of national security concerns stemming from Russia’s actions in Ukraine. He believes this shift might help revive U.S. industries weakened by reliance on the fiat currency system, which has hindered defense manufacturing. Gromen sees ...
Goldman Sachs CEO highlighted the resilience of the US economy and a positive outlook for dealmaking in a recent interview. However, he also voiced concerns about the escalating conflict in the Middle East.
In a week, Federal Reserve officials will meet to discuss the pace of interest rate cuts. Ahead of that, three key economic reports will highlight the US economy's underlying strength, despite a temporary slowdown in job growth.
