The BSN Foundation’s “non-cryptocurrency” approach aims to create a stable network that would not be as volatile as traditional cryptocurrencies like Bitcoin.
First deadline window looms for SEC to approve Bitcoin ETFs: Law Decoded
Even if approved by Nov. 17, the spot Bitcoin ETFs are unlikely to come to market for at least a month after approval.
APEC finance ministers to share perspectives on crypto at meeting in San Francisco
U.S. Treasury Secretary Janet Yellen said she is looking forward to hearing from the finance ministers of some of the world’s most crypto-forward countries.
Chinese hackers use fake Skype app to target crypto users in new phishing scam
Crypto security firm SlowMist has discovered several wallet addresses linked to a phishing scam that drained hundreds of thousands of dollars from unsuspecting crypto users.
Singapore startup dtcpay launches retail crypto payments system with Chinese partners
Dtcpay, formerly Digital Treasures Center, is MAS-registered and already provides some point-of-sale and online crypto payment services.
China declares stealing digital collections like NFTs liable for criminal theft sentence
The Chinese government says theft of digital collections violates the protection law and interests of the crime of illegally obtaining computer information system data.
China AI chip market finds expansion paths despite US export restrictions
The U.S. imposed export restrictions of high-level AI chips to China last October, though Chinese companies are now finding new options to develop their technology.
Chinese president calls for unity on AI challenges and cyber development
Xi Jinping addressed the World Internet Conference Summit, saying there is a need to “deepen” exchanges and cooperation on an international level on AI challenges and cyberspace development.
U.S. Bill Proposes Outlawing Government Use of China-Made Blockchains and Tether’s USDT
Government officials would no longer be able to use networks developed by China that power crypto transactions, according to a new bipartisan bill.
U.S. Bill Proposes Outlawing Government Use of China-Made Blockchains and Tether’s USDT
Government officials would no longer be able to use networks developed by China that power crypto transactions, according to a new bipartisan bill.
U.S. Bill Proposes Outlawing Government Use of China-Made Blockchains and Tether’s USDT
Government officials would no longer be able to use networks developed by China that power crypto transactions, according to a new bipartisan bill.
Hong Kong regulator issues tokenized investments requirements amid demand
The intent behind the tokenization of SFC-authorized investment products is tied to rising market demand and the government’s willingness to facilitate market development.
English school turned BTC miner in China expands capacity with 220 new units
BTC Digital used to be a chain of English schools based in Shenzhen. Now it has mining farms in Pennsylvania and Tennessee.
UK AI Safety Summit: Musk likens AI to ‘magic genie,’ says no jobs needed in future
The second day of the UK AI summit featured a one-on-one talk between Prime Minister Rishi Sunak and Elon Musk that discussed the future of the job market, China and AI as a “magic genie.”
UK AI Safety Summit begins with global leaders in attendance, remarks from China and Musk
The U.K. AI Safety Summit concluded its first day with a common declaration, the U.S. announcing an AI safety institute, China willing to communicate on AI safety and comments from Elon Musk.
HSBC and Ant Group test tokenized deposits under HKMA sandbox
During the test, HSBC was connected to the blockchain platform developed by Ant Group and supported by Ant Group’s banking partners.
Project mBridge reveals details of its workings ahead of MVP, commercial debut
Project mBridge has put together a slick publication with lots of new information to let the world know what the hottest project in CBDC is.
Project mBridge reveals details of its workings ahead of MVP, commercial debut
Project mBridge has put together a slick publication with lots of new information to let the world know what the hottest project in CBDC is.
Hong Kong advances CBDC pilot, bringing e-HKD trials to Phase 2
e-HKD Phase 1 trial was dedicated to full-fledged payments, programmable payments, offline payments, tokenized deposits, settlement of Web3 transactions and settlement of tokenized assets.
Bitcoin To $3 Million Is “A 100X From Today”, And You Are Still Early: Crypto Advocate
Luke Bryoles, a Bitcoin advocate who thinks the world’s most valuable network will save people’s energy, is bullish. On October 30, Bryoles said the coin could rally to $3 million, and all it needs is to be “100X from today.” For this reason, the crypto supporter thinks users engaging with the coin are “still early.”
Is This The BTC Road To $3 Million?
The Bitcoin defender said the coin has “indescribable future value,” especially compared to other centralized finance (CeFi) market metrics like market capitalization. Bitcoin is changing hands at around 2023 highs, trading above the $34,500 level, with traders and coin holders expecting more gains.
The expansion of last week saw the coin extend gains, lifting higher above the $32,000 level recorded in July. Considering the associated trading volume and resulting activity following the BTC jump, more supporters expect another rally in the next few sessions.
Bitcoin is down 50% from the November 2021 peak, when prices surged to approximately $70,000. However, the coin has more than doubled after dropping to as low as $16,000 in November 2022. At spot rates, BTC has more than 100% from 2022 lows, emerging as “one of the top-performing assets.”
This stellar performance, Bryoles adds, is despite Bitcoin maintaining a market cap of around $500 billion in 2023 while remaining “TINY in comparison to the world’s largest asset classes,” most of which include debt, equities, and gold.
To support the hyperbolic prediction, the supporter pointed to the low Bitcoin adoption level of “0.05% and 0.5%.” An eventual increase to 10% means there will be 100X users, easily driving the coin to $3 million, though even this remains a “misleadingly pessimistic prediction,” according to Bryoles.
At this valuation, the analyst added that the coin’s market cap will be “unfathomable.” Even so, all that is required is “4% of the global adult population to demand 1 million sats to exhaust exchanges.”
Bitcoin Finds Support And Opposition: Will Bulls Win?
Bitcoin remains the world’s most valuable crypto asset. At the same time, the United States Securities and Exchange Commission (SEC) might authorize the first spot Bitcoin Exchange-Traded Fund (ETF). Analysts expect this to drive prices towards the 2021 high at around $69,000.
Meanwhile, Federal Reserve’s Jerome Powell and SEC’s Gary Gensler think the coin is a “speculative asset.” These sentiments have also been shared by Senator Elizabeth Warren, who once said, “Bitcoin is a scam.”