olivia77smith8

@olivia77smith8

199 Following

222 Followers

olivia77smith8 pfp

@olivia77smith8

Analysts say this could reverse in 2025, especially if ETH’s price performance enhances ETF returns and regulators allow the funds to generate yields from staking.

0 reply

10 recasts

20 reactions

olivia77smith8 pfp

@olivia77smith8

They still lag BTC ETFs, which closed out 2024 with upward of $35 billion in net inflows, according to Farside.

0 reply

1 recast

16 reactions

olivia77smith8 pfp

@olivia77smith8

The Bitcoin market would likely change radically if states become market buyers. A new wave of new investors from global financial centers would flood the crypto markets, changing the market dynamics, psychology and reactions to certain events.

0 reply

10 recasts

19 reactions

olivia77smith8 pfp

@olivia77smith8

However, Ismail said much of the Bitcoin purchases would be done via over-the-counter brokers and settled as block trades, so “it may not have an immediate, direct impact on the price of BTC,” but will instead create a long-lasting demand force which will eventually push the price of Bitcoin upward.

0 reply

1 recast

21 reactions

olivia77smith8 pfp

@olivia77smith8

Bank Al-Maghrib has also been exploring the possibility of establishing a central bank digital currency to see how it “could contribute to achieving certain public policy objectives.”

0 reply

1 recast

1 reaction

olivia77smith8 pfp

@olivia77smith8

According to CoinGecko, governments around the world hold about 2.2% of Bitcoin’s total supply, some 471,380 Bitcoin.

0 reply

2 recasts

10 reactions

olivia77smith8 pfp

@olivia77smith8

The US government already holds about 213,297 Bitcoin worth over $2 billion, acquired through seizures, with the largest portion coming from shutting down the online the Silk Road black market in 2013.

0 reply

1 recast

9 reactions

olivia77smith8 pfp

@olivia77smith8

“If, as has been discussed, they choose to withhold Bitcoin seized and held by the US Marshals Service, this could create a perverse incentive to seize more over time and be more aggressive in seizures,” Cradle added.

0 reply

1 recast

7 reactions

olivia77smith8 pfp

@olivia77smith8

“I would also be curious how they decide to fill the reserve,” he said.

0 reply

1 recast

4 reactions

olivia77smith8 pfp

@olivia77smith8

Cradle speculates that with a strategic Bitcoin reserve, the president might unilaterally drop the price of Bitcoin in the same way.

0 reply

1 recast

4 reactions

olivia77smith8 pfp

@olivia77smith8

“If you go back to as recently as 2022, President Joe Biden released 200 million barrels of oil from the strategic petroleum reserve to mitigate price spikes caused by the Russian invasion of Ukraine.”

0 reply

3 recasts

5 reactions

olivia77smith8 pfp

@olivia77smith8

“If the US government holds Bitcoin, then it takes an interest in the price of Bitcoin, which further means it will implement policies to manipulate the price, up or down, at times when it needs to do so,” Cradle said.

0 reply

1 recast

5 reactions

olivia77smith8 pfp

@olivia77smith8

Governments haven’t always made outcomes for the crypto industry, with the US Securities and Exchange Commission (SEC) under the Biden administration causing plenty of headaches for crypto firms with record numbers of fines and penalties in 2024.

0 reply

1 recast

5 reactions

olivia77smith8 pfp

@olivia77smith8

Timothy Cradle, chief compliance officer at cross-border blockchain payment service Instarails, told Cointelegraph that while a Bitcoin reserve is possible, he is unsure if government involvement in crypto would be without hiccups

0 reply

1 recast

5 reactions

olivia77smith8 pfp

@olivia77smith8

In the long run, though, Ogilive thinks it could ultimately bolster Bitcoin’s long-term narrative as the “premier store of value”.

0 reply

2 recasts

3 reactions

olivia77smith8 pfp

@olivia77smith8

Atkins is known for his pro-innovation stance and crypto expertise and is claimed to be capable of “returning the agency to the so-called ‘gold standard,’” according to an X post by financial reporter Eleanor Terrett.

0 reply

7 recasts

18 reactions

olivia77smith8 pfp

@olivia77smith8

Former SEC Commissioner Paul Atkins has emerged as the leading candidate to chair the agency under President-elect Donald Trump’s new administration.

0 reply

1 recast

15 reactions

olivia77smith8 pfp

@olivia77smith8

Today in crypto, former United States Securities and Exchange Commission (SEC) Commissioner Paul Atkins has emerged as the leading candidate to replace Gary Gensler as chair of the agency, a US appeals court judge opined that the US Treasury’s sanctions against Tornado Cash’s immutable smart contracts were unlawful, which is seen as a win for decentralization, and Ripple contributed another $25 million to the Fairshake political action committee (PAC) in preparation for the US midterm elections.

0 reply

1 recast

11 reactions

olivia77smith8 pfp

@olivia77smith8

To hear more from Garzik’s conversation with The Agenda — including his vision for the future of the Bitcoin network and more fascinating stories from BTC’s early years — listen to the full episode on Cointelegraph’s Podcasts page, Apple Podcasts or Spotify. And don’t forget to check out Cointelegraph’s full lineup of other shows!

0 reply

1 recast

7 reactions

olivia77smith8 pfp

@olivia77smith8

Harkening back to his early days as a Bitcoin developer, Garzik recalled how he and others feared arrest for potentially violating the Stamp Payments Act of 1862, and how one of their primary goals was to convince people to accept BTC as payment in real life.

0 reply

1 recast

5 reactions