BITCOIN

An economist with the Heritage Foundation has warned about the potential calamity of the U.S. dollar losing its reserve currency status. He stressed that “The Biden administration has taken so many actions to dethrone King Dollar that it would be difficult to rank them all by their destructiveness.” Economist Warns Biden Administration’s Actions Threaten U.S. Dollar’s Reserve Currency Status Heritage Foundation economist and research fellow E. J. Antoni sounded the alarm on the potential calamity of the U.S. dollar losing its reserve currency status in an interview with the Daily Caller News Foundation, published Sunday. “The Biden administration has taken so many actions to dethrone King Dollar that it would be difficult to rank them all by their destructiveness,” the economist stated, warning: Losing reserve currency status … would mean 70 years of deficits flooding back to the U.S., all competing with existing dollars held domestically to buy goods and services. That’s a hyper...

U.S. lawmakers have called on the U.S. Securities and Exchange Commission (SEC) to drop its regulatory assault on the crypto industry following the landmark ruling on the SEC v. Ripple case regarding XRP . “The SEC has chosen to communicate and regulate not by clear rule or guidance but by enforcement actions, often politically timed,” one congressman described. Congressmen Urge SEC to Stop Regulating Crypto by Enforcement U.S. Congressman Ritchie Torres (D-NY) wrote a letter to U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler on Tuesday regarding how the SEC should regulate crypto following the landmark ruling on the SEC v. Ripple case regarding XRP . “I’m writing to inquire if the SEC intends to come to terms with the folly of the Commission’s crusade against crypto assets in light of the latest decision by Judge Analisa Torres of the Southern District of New York,” he began. “Needless to say, regulation by enforcement had a dreadful day in court.” The lawmaker c...

In about nine months, expected near April 24, 2024, Bitcoin is set to experience its fourth block reward halving. Many supporters and market observers anticipate a price increase prior to the event. According to an anonymous market analyst known as Plan B, bitcoin’s price could ascend to between $40,000 and $50,000 in the run-up to the next block reward halving. Plan B Estimates Bitcoin Could Cross $40K Ahead of Fourth Halving Amidst Market Uncertainties Two optimistic events are stirring discussion in recent circles: the potential approval of a spot bitcoin exchange-traded fund (ETF) in the U.S., and the impending block reward halving. The forthcoming halving , predicted to occur in about nine months, near April 24, 2024, will inevitably halve bitcoin miners’ revenues. Analysts at JPMorgan foresee financial challenges for bitcoin ( BTC ) miners if the crypto asset’s price and transaction costs fail to increase by that date. “While bitcoin halving is seen as having a positive effec...