BITCOIN

Morgan Stanley has warned about the risk of the U.S. dollar losing its dominance, fueled by growing interest in digital assets, including bitcoin. Emphasizing that the U.S. dollar’s dominance “is being increasingly scrutinized,” the investment bank stated: “A clear shift towards reducing dollar-dependency is evident, simultaneously fueling interest in digital currencies such as bitcoin, stablecoins, and CBDCs.” Morgan Stanley on Dedollarization Risk Morgan Stanley published a report last week titled “Digital (De)Dollarization?” written by Andrew Peel, the investment bank’s executive director and head of Digital Asset Markets. “The U.S. dollar’s dominance as the cornerstone of the international financial system is now being reconsidered in the face of evolving geopolitical shifts and the growing U.S. twin deficits,” the executive said, adding: Notably, the recent growth in interest of digital assets such as bitcoin, growth of stablecoin volumes, and the promise of central bank di

Congressman Tom Emmer has offered to help former U.S. President Donald Trump fight the creation of a central bank digital currency (CBDC) in the U.S. “I agree with President Trump; CBDCs pose a serious threat to Americans’ right to financial privacy. I look forward to working with him as we continue the fight against the expanding government surveillance state,” the lawmaker stated. Rep. Emmer Joins Trump in Fight for Americans’ Right to Financial Privacy House Majority Whip Tom Emmer (R-MN) has expressed support for former U.S. President Donald Trump in the fight against the creation of a digital dollar. Last week, Trump promised the American people that if he is elected president of the United States in the upcoming election, he will make sure that a central bank digital currency (CBDC) does not get created in the U.S. “As your president, I will never allow the creation of a central bank digital currency … Such a currency would give a federal government … absolute control over y

Global investment bank JPMorgan has warned of additional outflow from Grayscale’s bitcoin fund, cautioning that it will put “further pressure on bitcoin prices over the coming weeks.” The bank’s analyst also explained that the $3 billion inflow into new spot bitcoin exchange-traded funds (ETFs) “reflects a rotation from existing bitcoin vehicles” or “from retail investors shifting from digital wallets held with exchanges/retail brokers to cheaper spot bitcoin ETFs.” JPMorgan Warns of Looming Bitcoin Selloff JPMorgan analyst Nikolaos Panigirtzoglou shared his bitcoin’s price outlook on Linkedin Friday, specifically the impact of spot bitcoin exchange-traded fund (ETF) launches and outflows from Grayscale’s bitcoin fund. Grayscale converted its bitcoin trust (GBTC) into a spot bitcoin ETF after the U.S. Securities and Exchange Commission (SEC) approved it along with 10 other funds on Jan. 10. “The bitcoin price declined by more than 10% since the launch of spot bitcoin ETFs last wee