The US Strategic Bitcoin Reserve will be funded in part by revaluing Fed gold The plan proposes to establish a "Bitcoin Purchase Program" of up to 200,000 BTC per year over five years.
In his speech, Trump supported using the US government's existing Bitcoin holdings (mainly obtained through confiscations and seizures related to criminal cases) as the "core" of the new "National Strategic Bitcoin Reserve".
According to the draft, the Secretary of the Treasury will establish a "Bitcoin Purchase Program" to purchase up to 200,000 Bitcoins per year for five years, totaling 1 million Bitcoins. These Bitcoins will be held for at least 20 years and can only be used to repay federal debts. Thereafter, no more than 10% of the assets may be sold in any two-year period.
The plan calls for allocating $6 billion to the Treasury from all net profits turned over by the Federal Reserve from fiscal years 2025 to 2029, and reducing the Federal Reserve Bank's discretionary surplus funds from the current $6.825 billion stipulated in the Federal Reserve Act to $2.4 billion.
After Bitcoin rose to 70,000 yesterday, it then pulled back to 66,000 in the middle of the night.
From this line, Bitcoin is a benign pullback.
It will continue to break through to a higher position later, and there are signs of an upward breakthrough.
After breaking through to the point, the pullback to a high point will go sideways for a while.
Based on the rising history of the past few months, the beginning of next month is likely to be a short-term high.
It may break through to around 73,000 and then fall back to sideways.
There is no more big positive news at present, and the pressure to break through the last position will be relatively large.
It is expected that the pullback will continue around August 10th.
Wait for good news in September to continue to rise.
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Shiba Inu price seems largely unaffected regardless of the current market volatility as the rally continues within a descending parallel channel. SHIB price has stagnated within a certain price range within the channel, struggling to prevent an excessive bearish trend. Now that the selling pressure has eased, will Shiba Inu price trigger a rally and reach $0.00002?
The current trading setup suggests that the price could fall further in the coming days as the DMI is about to trigger a bearish crossover. Moreover, the Bollinger Bands have contracted again after some relaxation. Therefore, SHIB price is believed to remain sideways until the trading volume regains some momentum. Until then, there may not be major price action, but rather minor fluctuations below $0.000018.
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US government transfers $2 billion in "Silk Road" tokens, Bitcoin falls below $67,000
The US government transferred $2 billion worth of Bitcoin (BTC) on Monday, further lowering already falling prices and raising investor concerns about selling the assets.
And it came just two days after presidential candidate Donald Trump promised to start hoarding BTC.
If the US continues like this, it may not be able to continue to maintain high interest rates.
At present, many US companies are facing serious cash shortages and difficulties in corporate financing.
It may cause more companies to go bankrupt, thus putting pressure on the Federal Reserve.
If the US goes to war in the Middle East, the military industry will be fully fired.
Military spending continues to increase the national debt, if interest rates are not cut.
Other countries have not exploded yet, then their own country may be pulled first.
The presidential election between the two parties in the country may also be a fuse.
If the competition between the two parties leads to a civil war, then the United States will fall apart.
The worst case scenario may be like the former Soviet Union.
After the disintegration of the former Soviet Union, the ruble depreciated 5,400 times against the US dollar in 5 years.
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Hong Kong will explore the inclusion of Bitcoin in its financial reserves
Hong Kong legislator Goh Chok Tong said he would explore the feasibility of including Bitcoin in Hong Kong's fiscal reserves.
His interest comes after former US President Donald Trump announced at the Bitcoin 2024 conference in Nashville that he would establish a strategic Bitcoin reserve in the United States.
Potential Bitcoin reserves in Hong Kong
While endorsing Trump's speech, Andrew Ng also pointed out that given Bitcoin's growing global acceptance and its image as "digital gold", it is worth exploring the inclusion of Bitcoin in national or regional financial reserves. However, he pointed out that such initiatives need to meet regulatory standards.
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Why did Biden's speech make Harris elected president in two or three days?
Trump's votes were surpassed in an instant
Because Trump's election is not in line with NATO's purpose
Trump's road to election will be very difficult,
Why did the currency circle plummet today? Because the probability of Trump's election has been reduced
As long as Trump is not elected, the currency circle market, and even the entire financial market
will become very bad, and the profit efficiency will also be very poor.
Because Harris represents the political mentality that the United States and the West will always be the first. He will not go with the flow at all, and will definitely support the continued hot war between NATO and Russia. Continue to launch financial wars to harvest the world. But this method is basically a method of killing one thousand enemies and hurting eight hundred of oneself. Now it may not work.
It will definitely cause a global shortage of funds, and all banks and small and medium-sized enterprises will go bankrupt. Without capital turnover and new investment, the world will fall into a financial crisis. Although China has been against the US dollar to reduce its impact on itself. But it is inevitable that it will be affected........
The end of petrodollars, Bitcoin dollars are coming
Trump has been looking for a way to solve the problem of dollar debt
Biden's previous method of harvesting the global economy is no longer feasible
The last time the United States successfully solved more than 30 trillion US debts was Roosevelt
He linked the dollar to Bitcoin and controlled oil prices.
Successfully reduced the dollar debt to a controllable range, plus a series of policies.
Trump's attitude towards Bitcoin has changed 180 degrees.
In order to solve domestic debts, Bitcoin may be legalized and then tied to the dollar
It may be announced that only the US dollar can be exchanged for Bitcoin, similar to oil
Then various laws will be issued to facilitate the entry of mutual exchange.
This is just a fantasy, but this possibility cannot be ruled out. The current debt is already catastrophic
It is possible that Trump will try his best. Trump previously asked a cryptocurrency investor whether cryptocurrency could solve the current US debt problem
ETH Price Could Fall as Spot Ether ETF ‘Novelty’ Wears Off Due to Supply Surge
If Ether’s supply continues to increase at its current pace, its price could fall after the initial excitement about spot Ether exchange-traded funds (ETFs) fades, according to an analyst.
“If ETH supply continues to increase at a rate of ~60k per month as it has been since April, by December supply will be back to where it was at the time of the merger,” crypto trader and Into The Cryptoverse founder Benjamin Cowen wrote in a July 19 X post, referring to the much-anticipated merger that will transition Ethereum (ETH) to its current proof-of-stake consensus model in September 2022.
Ethereum, which fell into deflation after the merger, saw its supply drop by around 455,000 ETH by April 2024.
Judging from the previous bull market, now is the monkey market stage before the crazy bull in the currency circle comes
Before the crazy bull in the big bull market comes, there must be a monkey market for half a year to clean up the floating chips in the market.
This year's monkey market started in April 2024 and will probably end in August, and then there will be a crazy bull.
The monkey market mainly washes out floating chips and retail investors. By the end of the monkey market, retail investors basically have no bullets. Now we can vaguely understand that most retail investors have been liquidated and out.
The crazy bull of the bull market is coming, hold the chips in your hand.
As long as you have bullets in your hand, there will be a chance to land in the bull market. After the crazy bull lasts for two months, you are ready to escape from the top, just watch the first wave of large-scale decline. Basically, you don't have to stay for more than three points. Exit directly and wait for shorting.
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This year's bull market in the cryptocurrency circle may be the last crazy one, and it is completely unpredictable how much it can rise.
China's popularity abroad this time has a great impact on the image of the United States. Many Europeans and Americans believe that the United States is no longer the beacon country that everyone yearns for, but the distant East is.
The two sides form a sharp contrast. On one side is the old airport, the dilapidated subway, and most of the infrastructure is inherited from the last century. There are homeless people everywhere on the streets, and there are a large number of drug addicts. The security environment is indescribable...
On the other side is the magnificent airport high-speed rail and the subway that extends in all directions. Clean streets, going out late at night is the norm, clean streets, and there are basically no homeless people on the streets... This time, the visa-free transit policy has completely broken the filter that the self-media has given to the West.
The high amount of US debt will collapse sooner or later, and the continents continue to make independence. In the case of a surge in internal conflicts, as well as the Middle East powder keg, the situation between Russia and Ukraine, whether Trump can solve each one, the external problems have not been solved, and the internal ones may collapse first. A lot of problems are piled up, and they will definitely explode in the next two years.
The cryptocurrency market is heavily dependent on the US financial system. If the US collapses, the cryptocurrency market will definitely plummet. So this year's bull market may be the last madness of the cryptocurrency market. This year's bull market may really reach $100,000. Although the cryptocurrency market will not end, I don't know when it will reach this high point again. It may be in the next ten or twenty years.
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Will the rise of Bitcoin continue? Or is it just a lure to buy more, and it will be deflated at 65,000. I think this wave is just a lure to buy more. After Germany’s exit, Mentougou’s exit, and Mentougou’s exit, there are probably many more to come. So I think the probability of rising back to 68,000 or even 70,000 is really low.
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