The UK High Court ruled that Tether (USDT) is property! This news really shocked the entire cryptocurrency market. This is the first time that British law has officially ruled on the status of cryptocurrency, directly pushing USDT to the throne of "legal assets"! You know, USDT is one of the most commonly used stablecoins in the world, and its market value has already exceeded 80 billion US dollars. Such a ruling is definitely a super positive for the crypto circle!
The background of this judgment is a fraud case, in which the stolen cryptocurrencies were transferred to multiple exchanges through a mixer. This time, the British court not only made it clear that USDT is property, but also emphasized that it is a "quite unique form of property" that can be tracked and trusted. What does this mean? It means that USDT and other cryptocurrencies are more "legitimate" in the UK market, and traders no longer have to worry about their asset status not being recognized!
The British government passed a bill just one day ago, clarifying that cryptocurrencies are "personal property", and the court followed suit. The pace is really fast! The signal behind this is very obvious: the UK's attitude towards the cryptocurrency market is gradually becoming positive, which is great news for players! Think about it, with the protection of the law, USDT will be more stable in the UK market, which will undoubtedly enhance the confidence of players and may even attract more capital inflows.
More importantly, this ruling is likely to trigger a chain reaction, and other countries may follow the UK's footsteps and further clarify the legal status of cryptocurrencies. This is a huge boon for the entire crypto market! As more countries confirm the legal status of crypto assets, the future crypto market will be more mature and stable.
The Montenegrin Supreme Court is expected to make a ruling on Do Kwon’s extradition case by the end of the month, which has once again made the crypto community excited! As the founder of Terra, Do Kwon has always been a focal figure in the crypto market, and the progress of his extradition case is directly related to the future direction of the market.
Let's first look at the situation this time: Vesna Vučković, acting president of the Montenegrin Supreme Court, has made it clear that the court will review the "legality protection request" of the Supreme State Prosecutor. The prosecutor believes that there are problems with the previous extradition decisions of the High Court and the Court of Appeal, and this time the Supreme Court will give an explanation. In short, it depends on whether there are any illegalities in Do Kwon's extradition procedure!
Why is everyone so concerned? In fact, this matter is not only related to Do Kwon's personal fate, but also to the legal environment of the entire crypto market. After all, the collapse of Terra has caused heavy losses in the crypto market, and players have suffered even more. Now, the ruling of the Montenegrin Supreme Court may provide a reference for similar cases in the future.
If the Supreme Court rules that extradition is illegal, Do Kwon will be able to escape for the time being, which may send a signal to the market: the legal game in the crypto field is intensifying, and there are still many gray areas in the supervision of various countries in this field. But from an optimistic point of view, this is also a sign that the crypto market is maturing. With the continuous improvement of laws in various countries, the future crypto market will be more standardized and transparent.
MicroStrategy has made another move! In just over a month, they purchased another 18,300 bitcoins, spending about $1.11 billion, with an average price of $60,408 per bitcoin. This is definitely a big news! This move once again proves MicroStrategy's firm confidence in Bitcoin and continues to lead the trend of "crazy hoarding of coins" among traditional companies.
The funds for this purchase came from the proceeds of the company's issuance and sale of shares, which directly shows that MicroStrategy is willing to expand its financing scale to gain a foothold in the Bitcoin market. As of September 12, the company and its subsidiaries held a total of 244,800 Bitcoins, with a total purchase price of US$9.45 billion, and an average cost of only US$38,585 per Bitcoin! Compared with the latest purchase of US$60,408, the early hoarding strategy has undoubtedly brought the company considerable floating profits.
This high-priced purchase may make some people feel that there is a lot of risk, but from an optimistic point of view, this just shows MicroStrategy's belief in the future value of Bitcoin. Bitcoin's volatility has always been high, but it is precisely because of the potential benefits brought by volatility that MicroStrategy continues to "buy, buy, buy". Their continued increase in holdings has also invisibly injected a shot of adrenaline into the market, boosting players' confidence in Bitcoin.
More importantly, the continued entry of large institutions such as MicroStrategy has sent a clear signal to the market: even if the price of Bitcoin fluctuates in the short term, the long-term bullish trend remains unchanged. The company's courage to purchase a large amount of Bitcoin at a price above $60,000 shows that they believe that the true value of Bitcoin is far from being fully explored. This is undoubtedly a great incentive for other players.
Therefore, it is better to be optimistic. MicroStrategy's continuous increase in investment may indicate that the Bitcoin bull market is ready to take off. Those players who are still waiting and watching may now re-examine their investment strategies for Bitcoin.
The U.S. spot Ethereum ETF had a net inflow of 635 coins yesterday, worth $1.5 million.
The U.S. spot Bitcoin ETF had a net inflow of 4,530 coins yesterday, worth $263 million.
Bitcoin: Yesterday, a medium-sized positive line was closed, indicating that the bulls are strengthening. The price has broken through the 60-day moving average, indicating that the market sentiment has improved in the short term. The MACD indicator shows that the DIF line has crossed the DEA line, showing a golden cross pattern, suggesting that the price has the momentum to continue to rise. In summary: As long as the retracement does not break the 5-day moving average of 58,700 during the day, the possibility of continued rise in the future is very high. Pressure reference: around 61,300; around 64,300;
Ethereum: Linked to Bitcoin trend. Pressure reference: around 2868; around 3102;
Today's panic index: 50 (neutral) #比特币走势分析
