Coinbase CEO calls on countries to establish Bitcoin reserves

January 17, 2025 Coin Telegraph

Bitcoin

Brian Armstrong has reportedly discussed potential policy issues related to cryptocurrencies with US President-elect Donald Trump.

Brian Armstrong, CEO of US-based cryptocurrency exchange Coinbase, has endorsed plans for global leaders to create Bitcoin strategic reserves.

In a Jan. 17 blog post on “economic freedom,” Armstrong said cryptocurrencies were ”the next chapter capitalism,” offering suggestions for policymakers to integrate digital assets into their economies in 2025.

The Coinbase CEO’s ideas included crypto-friendly laws, government efficiency, special economic zones, and the establishment of a Bitcoin (BTC) reserve as a hedge against inflation.

“The next global arms race will be in the digital economy, not space,” Armstrong speculated. “Bitcoin could be as foundational to the global economy as gold and will become central to national security in a world where holdings of Bitcoin can shift the balance of power among nation-states.”

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US Space Force Major Applies for Military Advisor Position on Bitcoin Strategy

November 20, 2024 Bitcoin.com

Bitcoin

A U.S. Space Force major aims to shape defense policy by advocating a national bitcoin reserve and highlighting proof-of-work technology’s role in strategic security. Jason Lowery Pushes for Bitcoin Strategy Role in National Security Council Jason Lowery, a major in the U.S. Space Force and a prominent advocate for bitcoin’s role in defense strategies, has […]

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Bitcoin to $100K: What will milestone mean for derivatives markets?

November 19, 2024 Coin Telegraph

Bitcoin to 0K: What will milestone mean for derivatives markets?

Adoption

Bitcoin analysts and traders have long dreamed of a $100,000 BTC price, but what would the achievement mean for derivatives markets?

Bitcoin’s (BTC) potential climb to the $100,000 price level has captivated investors for years. While retail participants often celebrate such psychological milestones, the key impact should come from institutional adoption and advancements in the Bitcoin derivatives markets.

Bitcoin futures aggregate open interest, BTC. Source: CoinGlass

Futures open interest on Bitcoin presently totals 626,520 BTC ($58 billion), a 15% increase in two months, signaling growing interest in derivatives. If Bitcoin reaches $100,000, this open interest would hit $62.5 billion, representing 3.1% of its $2 trillion market cap. This contrasts with the S&P 500, where $817 billion in futures open interest equals only 1.9% of its $43 trillion market cap.

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Bitcoin corrects as US inflation data emerges — Is the rally to $100K at stake?

November 15, 2024 Coin Telegraph

Bitcoin corrects as US inflation data emerges — Is the rally to 0K at stake?

Coin Telegraph

Bitcoin’s correction reflects investors’ inflation concerns and highlights the potential impact of future US fiscal policies.

Bitcoin (BTC) traded down by 4.1% on Nov. 14 following US inflation data that marginally exceeded market expectations. This decline mirrored the S&P 500 index futures, which fell from 6,023 to 5,980 over four hours.

As a result, traders are now questioning the extent of this correlation and when Bitcoin’s inflation-hedging attributes might offer some protection in an environment of persistent inflation.

S&P 500 index futures (left) vs. Bitcoin/USD (right). Source: TradingView

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Senator Lummis’ Bitcoin reserve proposal faces uphill battle

November 6, 2024 Coin Telegraph

China

A US strategic Bitcoin reserve faces steep odds, with legislative hurdles and economic risks stalling approval.

United States Senator Cynthia Lummis, long known as the "Crypto Queen" of Capitol Hill, has thrown a financial curveball into the post-election buzz by announcing plans to establish a strategic Bitcoin (BTC) reserve.

Source: Senator Cynthia Lummis

This bold move, declared just hours after Donald Trump's re-election, could redefine the US fiscal strategy, but at the same time raises questions on its feasibility, impact on US debt, policy barriers and market volatility.

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Economist Explains Bitcoin’s Untapped Potential for Central Bank Reserves

October 28, 2024 Bitcoin.com

Bitcoin

An economist has argued that bitcoin is a reserve asset similar to gold, noting that some central banks might consider adding it to their reserves. Economist Makes Bold Case: Bitcoin Could Protect Central Banks Like Gold The Bitcoin Policy Institute (BPI), a non-profit think tank, published a paper last week by economist Matthew Ferranti titled […]

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Wazirx Begins INR Withdrawal Phase 1: Users Can Withdraw Up to 33%

August 26, 2024 Bitcoin.com

bitcoin.com

Indian crypto exchange Wazirx has initiated the first phase of INR withdrawals, permitting eligible users to withdraw up to 33% of their INR balances. Co-founder Nischal Shetty noted that the timeline for the second phase remains uncertain due to several internal factors that need to be addressed. Wazirx Launches Phase 1 of INR Withdrawals Indian […]

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Blackrock Dethrones Grayscale Becoming World’s Largest Digital Asset Manager

August 21, 2024 Bitcoin.com

Asset Management

Five days ago, Arkham Intelligence revealed that Blackrock, the world’s largest fund manager, was on the brink of overtaking Grayscale in onchain asset value. As of Aug. 21, Blackrock has officially surpassed Grayscale, securing its position as the top digital asset manager in terms of onchain reserves. World’s Largest Fund Manager Just Surpassed Grayscale in […]

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US Ethereum ETFs Hold $10.24B in Reserves Following $106M in Inflows

July 24, 2024 Bitcoin.com

US Ethereum ETFs Hold .24B in Reserves Following 6M in Inflows

21shares

Based on the recent data, the nine newly introduced ethereum exchange-traded funds (ETFs) saw $106.78 million in inflows on Tuesday. Blackrock took the lead with $266.55 million in trading volume throughout the day. Blackrock Dominates Inflows as Nearly Half a Billion Exits ETHE The newly introduced ethereum ETFs performed admirably on Tuesday, registering their first […]

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Fifth Day of Outflows Hits US Bitcoin ETFs With $139 Million in Losses

June 21, 2024 Bitcoin.com

Bitcoin

U.S. spot bitcoin exchange-traded funds (ETFs) experienced their fifth consecutive day of outflows on Thursday, losing $139.88 million. Grayscale’s Bitcoin Trust (GBTC) led the decline with a $53 million reduction, followed closely by Fidelity’s (FBTC) $51 million loss. U.S. Bitcoin ETFs Experience Sustained Outflows The 11 spot bitcoin ETFs reported $1.16 billion in trade volume […]

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