According to a new report by ARK Invest, if Bitcoin captures a 19.4% share of global investable assets, its price could reach an astounding $2.3 million per coin. While an allocation of this size may seem ambitious, even smaller allocations of just 1-5% of portfolios could boost Bitcoin's price to between $120,000-$550,000.
Conversely, a proposed US consumer protection rule around digital payments faces pushback for possibly hindering crypto's peer-to-peer capacities. Though intended to shield consumers, broad applications could introduce risks for users relying on non-custodial wallets. Lawmakers trying to provide crypto with more consideration are requesting more time and clarity from regulators to properly assess the impact of the rule, given how complex its frameworks appear to be.
The Biden administration is launching an emergency survey requesting mining companies to provide granular data about their energy use and operations. The required data ranges from installed hardware specifications to electric utility providers. While claiming to focus on analyzing industry emission trajectories, the initiative pressures miners towards transparency through mandatory participation, rather than voluntary disclosures.
