15th anniversary of the release of the BTC white paper. On October 31, 2008, Satoshi Nakamoto released the BTC white paper "Bitcoin: A Peer-to-Peer Electronic Cash System", which has been released for 15 years and has forever changed the financial world. The BTC network was officially launched on January 3, 2009. After that, everything went smoothly.
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The UK Treasury will continue to implement new regulations requiring cryptocurrency companies to apply for authorization from the UK Financial Conduct Authority (FCA). The implementation of new cryptocurrency industry regulations will be accelerated through secondary legislation in 2024. The scope of the new cryptocurrency regulations will generally cover companies that provide services to UK consumers from overseas. The Hong Kong Monetary Authority released the "Phase I Report of the Digital Hong Kong Dollar Pilot Program". The digital Hong Kong dollar may bring unique value to Hong Kong's existing payment ecosystem in three aspects, including programmability, tokenization and instant settlement. The HKMA has not yet decided whether and when to officially launch the digital Hong Kong dollar. BlackRock released a research brief on "The Future of Finance". The report pointed out that regulatory shifts, changes in financial architecture, the end of zero interest rates and technological innovation are changing the deposit and credit markets and subverting business models. With the innovation of banks and other financial institutions, the development of regulation and the development of technologies around payments, digital currencies, asset tokenization and artificial intelligence, the evolution of the financial system will be further accelerated. Hong Kong virtual bank WeLab has received US$260 million in financing from Citigroup. WeLab has settled in Hong Kong Cyberport and is also a founding member of the Hong Kong Web3.0 Association.
Kasikornbank (K-Bank) of Thailand said it has acquired 97% of the shares of the parent company of Satang cryptocurrency exchange through its subsidiary Unita Capital, whose mission is to invest in digital asset companies. I2beat data shows that the total locked position of Layer2 network has exceeded 12 billion US dollars, setting a record high, with an increase of about 4% in the past seven days. ArbitrumOne has a locked position of 6.63 billion US dollars, OPMainnet has a locked position of 3.04 billion US dollars, and Base has a locked position of 572 million US dollars. BTC mining difficulty has increased by 2.35% to 62.46T, setting a new record high. The open interest of the traditional commodity futures giant, Chicago Mercantile Exchange (CME), has increased to 3.54 billion US dollars, second only to the 3.83 billion US dollars of Bn, which ranks first. Axios reported that a16z, a veteran crypto venture capital, plans to raise about 3.4 billion US dollars for its next core early and seed stage fund. Fundraising will start around the end of the year and is expected to end in the first half of 2024. Billionaire Stan Druckenmiller said at an investor conference in New York: I don't own any BTC, but I should. I'm 70 years old and I hold gold. I'm surprised at the development of BTC. It's obvious that young people see it as a means of storing value. Greeks.live said that the ETH call option block volume has reached 180,000, with a daily trading nominal value of US$330 million. Yesterday, the volume of the three major contracts increased by 10% each. Another part of the increase came from the put option on November 24, and the market also bought protective options. Last week, the number of views on the BTC Wikipedia page surged, jumping to its highest level since mid-2022.
On October 31, 2008, the BTC white paper "Bitcoin: A Peer-to-Peer Electronic Cash System" has been released for 15 years and has forever changed the financial world. The BTC network was officially launched on January 3, 2009. On May 18, 2010, a programmer used 10,000 BTC to "exchange" a pizza worth $25. When BTC was priced at about 0.0025, it is $34,000 today. In December 2011, a female college student asked what she could invest 6,000 yuan in. Sci-fi writer Zhang Tie replied: Buy BTC and look at it in 5 years. The price at that time was about US$2. The story of BTC since then is well known. Last week, digital asset investment products saw an inflow of US$326 million, the largest single-week inflow since July 2022. BTC investment products have seen inflows of $296 million, with inflows so far this month approaching $500 million. At the Federal Reserve interest rate meeting, if the Fed keeps interest rates unchanged and Powell directs no interest rate increases, then the risk of tightening in November and December will continue to weaken, the stock market may strengthen, and the market will keep pace. (As time goes by, the risk of tightening continues to weaken.) Pay attention to Thursday's Federal Reserve interest rate meeting, hoping that Powell will be dovish this time.
Goldman Sachs expects the target point for the S&P 500 Index at the end of the year to be 4,500 points (currently 4,165). From an investment perspective, it believes that "stocks should be bought rather than sold when a recession or threat of recession is approaching." Stock returns that rebound from lows have historically been strong, with an average 3-month return of 19.7%, an average 6-month return of 28%, and an average 12-month return of 43.7%, when economic data shows a contraction. , markets typically begin to recover from a trough, with the result that investors waiting for the economy to turn positive may miss out on several months of positive returns during the initial stages of a new stock market uptick. (In line with Buffett's theory of "people are greedy and I am fearful, and others are fearful and I am greedy") The Fed's winter is coming to an end, and the spring of cryptocurrencies has begun to recover. #BTC #etf
