#BTC #square #TwitterX #BitcoinFutures
“I do think it hits that number and goes beyond,” said the Twitter co-founder on his million-dollar Bitcoin prediction.
Twitter co-founder Jack Dorsey says the price of Bitcoin could reach a price of at least $1 million by the year 2030, adding that its value could grow even further from that point onward.
Speaking in a May 9 interview with journalist Mike Solana on Pirate Wires, Dorsey offered a bullish outlook for the long-term price action of Bitcoin

tickers down
$62,901
, as well as providing further context behind his abrupt departure from the board of BlueSky — a decentralized Twitter alternative he helped launch in 2019.
Dorsey told Solana he believes Bitcoin’s price could reach “at least a million” by 2030, adding that it most likely “hits that number and goes beyond.”
Dorsey — now the head of the financial services firm Block — noted that Bitcoin’s price isn’t actually the most interesting aspect of Bitcoin and instead pointed to the collaborative nature of the ecosystem and the way it incentivizes collective efforts to enhance the network.
“The most amazing thing about Bitcoin, apart from the founding story, is anyone who works on it, or gets paid in it, or buys it for themselves — everyone who puts any effort in to make it better — is making the entire ecosystem better, which makes the price go up.”
“It’s a fascinating ecosystem and movement, more than anything else,” he said before adding, “It taught me a lot.”
Dorsey raised eyebrows on May 6 when it was confirmed he would be departing the board of Bluesky, a decentralized social network he helped start as an alternative to Twitter.
He said that Bluesky was “literally repeating all the mistakes [Twitter] made,” adding that it is not a protocol that could be deemed truly decentralized. “It’s another app,” he said.

Dorsey originally envisioned Bluesky as an open-source protocol that Twitter and other social media platforms could build on top of, separating the protocol layer from the application layer to reduce censorship risks.

However, he said the firm started behaving more like a traditional company that began pushing for moderation tools.

“Everything we wanted around decentralization, everything we wanted in terms of an open-source protocol, suddenly became a company with VCs and a board. That’s not what I wanted; that’s not what I intended to help create.”
Dorsey, who has since deleted his Bluesky account, said the platform Nostr — an anonymous, open protocol with no company or centralized control — aligned more with his goals of censorship resistance.
In a note to shareholders on May 2, Dorsey said that his fintech firm Block will flip 10% of its gross profit from Bitcoin-related products back into buying more BTC every month.
On May 1, it was reported that United States federal prosecutors were probing Block after documents alleged compliance violations at the firm’s payment divisions, Square and Cash App.

Cardano (ADA) is attempting a fresh increase above the $0.4500 resistance zone. ADA could gain bullish momentum if it settles above the 100 SMA (H4).

ADA price is slowly moving high above the $0.450 zone.
The price is trading below $0.480 and the 100 simple moving average (4 hours).
There was a break above a key bearish trend line with resistance at $0.4580 on the 4-hour chart of the ADA/USD pair (data source from Kraken).
The pair could gain bullish momentum if there is a clear move above $0.470.
Cardano Price Attempts Fresh Increase
In the past few days, Cardano started a recovery wave from the $0.4180 zone, like Bitcoin and Ethereum. ADA price broke the $0.4350 and $0.4420 levels to move into a short-term bullish zone.

There was a move above the 23.6% Fib retracement level of the downward move from the $0.5227 swing high to the $0.4180 low. Besides, there was a break above a key bearish trend line with resistance at $0.4580 on the 4-hour chart of the ADA/USD pair.

Cardano is now trading below $0.480 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.4650 zone and the 100 simple moving average (4 hours).

The first resistance is near $0.470 or the 50% Fib retracement level of the downward move from the $0.5227 swing high to the $0.4180 low. The next key resistance might be $0.4980. If there is a close above the $0.4980 resistance, the price could start a strong rally.
Source: ADAUSD on TradingView.com

In the stated case, the price could rise toward the $0.5250 region. Any more gains might call for a move toward $0.5650.

Another Decline in ADA?
If Cardano’s price fails to climb above the $0.470 resistance level and the 100 simple moving average (4 hours), it could start another decline. Immediate support on the downside is near the $0.450 level.

The next major support is near the $0.4350 level. A downside break below the $0.4350 level could open the doors for a test of $0.4180. The next major support is near the $0.3880 level.

Technical Indicators
4 hours MACD – The MACD for ADA/USD is losing momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level.
Major Support Levels – $0.4500, $0.4350, and $0.4180.
Major Resistance Levels – $0.4700, $0.4980, and $0.5250.

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

#BTC🌪️ #BTCVSGOLD #gold
Will Bitcoin outshine gold as store of value? Anthony Scaramucci, Erik Voorhees, Nouriel Roubini and Peter Schiff weigh in
In a heated live debate organized by ZeroHedge and presented on YouTube, billionaire investor Anthony Scaramucci of SkyBridge Capital sparred with top analyst Peter Schiff over whether Bitcoin (BTC) or gold serves as a better inflation hedge. They were joined by the CEO of ShapeSchift Erik Voorhees and Nouriel Roubini, a professor of economics at NYU.
#BTC as digital gold
Peter Schiff, a longstanding critic of Bitcoin, opened the debate by arguing that Bitcoin, originally created as a digital currency, fails to function effectively due to its slow and expensive nature. Bitcoin proponents are attempting to reposition it as a digital version of gold, Schiff said. Still, in his view, it falls short of gold's intrinsic value derived from its physical properties. “Bitcoin is no more digital gold than an image of a hamburger is digital food,” Schiff noted. He emphasized gold's tangible utility in industries like jewelry and electronics, contrasting it with Bitcoin, which he believes lacks practical uses and utility. Regarding gold's enduring value, Schiff asserted that it retains its intrinsic properties over time, serving as a genuine store of value. He also argued that the perceived value of Bitcoin is merely based on speculative demand and does not reflect any inherent usefulness or practical applications.
#BTC🌪️ as asset.
Scaramucci countered Schiff's argument by highlighting that only 5% of gold's value is derived from manufacturing purposes, with the majority attributed to its acceptance as a store of value. He emphasized that Bitcoin, like gold, has a deflationary aspect due to its fixed supply. Scaramucci views Bitcoin as "digital gold," noting its portability compared to physical gold. He also pointed that Bitcoin is following an adoption curve that will impact its value over decades, likening it to the trajectory of tech stocks that became standard over time and contributed to the S&P 500 index.
BTC breaks $63K.
Cryptocurrencies rebounded on Friday, driven by a rise in Bitcoin's (BTC) price, raising optimism that the recent drawdown may be subsiding. BTC climbed nearly 5%, briefly surpassing $63,000.
This surge followed a cooler-than-expected U.S. April jobs report, which alleviated concerns about potential increases in interest rates.

#BitcoinETFs
#BTC🌪️
Two US lawmakers, representing both Republicans and Democrats, have penned a letter to the SEC Chair Gary Gensler, asking him to approve the #BitcoinETFs options trading.
In a bipartisan effort, Representatives Mike Flood and Wiley Nickel are urging the U.S. Securities and Exchange Commission (SEC) to greenlight options trading on Spot Bitcoin ETFs. These lawmakers have written a letter addressed to SEC chair Gary Gensler, pushing him to consider their request.

SEC Chair Gary Gensler Under Pressure To Approve Bitcoin ETF Options
The significance of this push lies in the delay issuers have faced in launching options following the historic approval of Spot Bitcoin ETFs in January. The ETFs secured the SEC approval following a long delay that too after a court ruling. Now, Flood and Nickel are adamant that the SEC doesn’t perpetuate discrimination against these newly established funds.

Expressing the critical nature of approving options trading on Bitcoin ETFs, the letter emphasizes its importance to the investors whom the SEC aims to safeguard. Flood and Nickel, representing both Republican and Democrat perspectives, underscore the need for prompt action. Moreover, they also encourage a transparent explanation for treating options for Bitcoin futures ETFs differently from Spot Bitcoin ETFs.

According to a report by Axios, the letter sent to Gensler read, “We urge you, without delay, to approve options on spot Bitcoin ETPs or to provide an explanation for the Commission’s difference in treatment between options for Bitcoin futures ETFs—which are currently trading—and options for the spot Bitcoin ETPs.”
Will CFTC Be Involved?
The broader context reveals a disparity in the approval process between market stock ETFs. The stock ETFs typically see options trading approval shortly after launch while commodity trust-based fund face a more intricate and prolonged process. This complexity arises from the necessity of obtaining approval from multiple government agencies, including the Commodity Futures Trading Commission (CFTC).

Moreover, insiders close to the matter anticipate the CFTC to pose the primary obstacle rather than the SEC. The CFTC’s involvement in approving such products also stems from the recent contradiction from the SEC over the #Ethereum" (ETH) controversy. Hence, it remains to be seen if the CFTC and the SEC would collaborate on deciding whether the Bitcoin #ETF options should be approved or not.
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Fox’s Role in the Case
James K. Filan, a veteran defense lawyer, reported that Ripple filed a letter in support of its April 22, 2024, request to strike new expert materials and in response to the SEC’s April 29, 2024, opposition. Ripple also claimed that the SEC should have presented Fox’s declaration during the discovery phase since she was an expert witness.
Ripple claims Fox is an expert witness because his accounting skills exceed simple arithmetic. The SEC claims Fox’s function was to summarize financial facts without expertise. The SEC, citing cases such as United States v. Blakstad and SEC v. Treadway, stated that Fox, a summary witness, did not provide expert testimony or opinions in the report. The SEC says the report simplified Ripple’s audited financial record for Judge Analisa Torres using elementary math.
A Clash of Time and Declaration
According to Ripple, the SEC delayed identifying Fox as an expert witness. #Ripple says that missing information hampers accurate cross-examination and trial fairness. Ripple cites cases where judges dismissed identical declarations for improper disclosure. They claim that misclassifying and disclosing expert testimony misleads the court and opposing parties. In previous cases, the SEC claims that contextual circumstances allowed summary testimony without expert disclosures.
The courts may rule on the motion to strike at any moment. However, the SEC must submit its remedy-related reply brief by May 6. The remedy-related reply brief will address Ripple’s objection to the SEC’s opening brief seeking punitive damages and an injunction.
Additionally, the court will rule on whether to ban Ripple from selling #xrp to institutional investors. The court ruling may affect Ripple’s US expansion.
Potential Impact
This case’s outcome could significantly impact other similar cases. If Ripple successfully strikes Fox’s declaration, it may limit the SEC’s ability to argue for specific penalties. Conversely, upholding the declaration would strengthen the SEC’s case against Ripple. Thus, the resolution holds significant implications for both parties.
Community Reaction is Mixed on the Motion
In a rare admission, lawyer Jeremy Hogan predicts that the will #SEC likely win a motion in court. Even if the court recognizes the witness as an “expert,” Hogan believes Ripple will be allowed to depose her instead of striking her testimony, as done previously. 
Bill Morgan also shares similar thoughts; that Ripple will likely lose the motion, and the judge may acknowledge that Andrea Fox provided some expert evidence. Despite this, the judge might allow Ripple to depose her. Morgan suggests waiting for the SEC’s response on May 6 regarding remedies before making a decision.
#XRPVSSEC
#XRPUSDT🚨