Bloomberg: Russia attempts to bypass Western sanctions by using Bitcoin for transactions within BRICS.
On October 23, according to Bloomberg terminal information, as the BRICS summit opens in Kazan, Russia, cryptocurrency issues have been brought to the agenda. Russian lawmakers are promoting the idea that Russian miners can sell their tokens to international buyers, while domestic buyers can use BitMarket and other cryptocurrency markets to pay for imported goods, effectively circumventing Western sanctions.
Richard Wolf, an American economist and emeritus professor at the University of Massachusetts Amherst, commented that the BRICS alliance is surpassing the already peaked U.S. The U.S. is in decline and is trying to maintain its international dominance.
A 10,000-fold surge in 5 days! Meme coins related to on-chain AI are emerging one after another.
a16z co-founder Marc Andreessen and Ben Horowitz discussed the intersection of AI and cryptocurrency, particularly the autonomous chatbot Truth Terminal developed by Andy. Marc unexpectedly provided $50,000 in Bitcoin funding to the bot, igniting its ambition to launch a token, ultimately leading to the market cap of the meme coin 'GOAT' soaring to $800 million. The podcast discussed how this phenomenon reflects the potential of community-driven systems and their impact on the future of digital assets.
Since the leading $GOAT token surge, there has been a 10,000-fold increase in 5 days. Meme coins related to on-chain AI are emerging one after another; which ones have come out? What is their current market capitalization? Should we chase high prices?
Bernstein: A $200,000 Bitcoin price by the end of 2025 is a 'conservative' prediction.
Analysts from research and brokerage firm Bernstein claim that their current prediction of a $200,000 Bitcoin price by the end of 2025 is 'conservative' and urge skeptics to reconsider the limited supply of cryptocurrency in an era of record U.S. debt levels. For investors who do not want to hold Bitcoin directly, the analyst suggests investing in MicroStrategy, the world's largest Bitcoin corporate holder, and Robinhood, which is continuing to expand its crypto services, as alternatives for indirect investment.
Analysts also highlighted the potential of U.S. listed companies Riot Platforms and CleanSpark, which are integrating thousands of megawatts of electricity for Bitcoin mining, as well as AI-diversified companies like Core Scientific, which leverage the demand for AI hosting services as they possess valuable electricity pipelines while still managing Bitcoin mining operations.
The founder of Tudor Fund purchased gold and Bitcoin to hedge against inflation risks.
Paul Tudor Jones, founder of Tudor Fund, billionaire, and legendary investor, purchased gold and Bitcoin before the election to hedge against inflation risks.
On Tuesday, October 22, Jones told CNBC that regardless of whether Trump or Harris wins the presidential election, inflation in the U.S. will rise—both presidential candidates are making 'crazy' promises of tax cuts and increased fiscal spending while ignoring the U.S. deficit issue. If this problem is not resolved, the U.S. will need to use inflation to get rid of its debt.
Jones stated that the U.S. government's debt has grown from 40% of GDP to nearly 100% over twenty-five years, seemingly on an unsustainable trajectory. Therefore, he is avoiding fixed income and shorting long-term U.S. Treasuries.
The Hong Kong SFC engages in interactive communication with the securities industry on regulatory trends and issues related to virtual assets.
The Hong Kong Securities and Futures Commission held a seminar at its headquarters on October 24 to maintain interaction with the industry and further explore the main challenges and opportunities facing the industry. At the seminar, the Hong Kong SFC shared its proactive measures to promote the continuous growth and stability of the Hong Kong capital market, as well as recent developments regarding virtual assets, integrated fund platforms, and RMB fixed-income instruments. The Hong Kong SFC also provided attendees with recent data on licensing, securities markets, investment product sales, and asset and wealth management, outlining the current state of the capital market.
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