$BTC Bitcoin market updates: Bitcoin price plunged as low as $93,400 on Monday, down 5% from last week’s local top of $98,200, recorded on Friday.
Strategy purchased 1,895 BTC between April 28 and May 4, the company disclosed in a regulatory filing on Monday.
The acquisition increases Strategy’s total Bitcoin holdings to 555,450 BTC, representing 2.6% of the current total supply.
The $180 million purchase was financed through recent stock sales, with Strategy selling 353,825 shares of its Class A common stock (MSTR) and 575,392 shares of its Series A preferred stock (STRK), according to the Securities and Exchange Commission (SEC) filing.
_Key Crypto Bill Imperiled By Trump Crypto Firm’s Deal With Emirati State-Owned Fund_
Some Democrats pulled their support for a crypto-friendly Senate bill this week amid conflict-of-interest concerns surrounding the Trump family’s World Liberty Financial crypto firm—as Trump’s involvement in crypto complicates bipartisan efforts to establish industry-friendly regulations.
The MGX-World Liberty Deal was unveiled last week at the Token2049 convention in Dubai by Trump’s son, Eric Trump, and Zach Witkoff, a founder of World Liberty Financial and the son of Trump’s Middle East envoy, Steve Witkoff. Trump began promoting World Liberty Financial in August, when the purpose of the venture was a bit murky, though it’s since solidified itself as a crypto dealer with activities that have repeatedly raised conflict-of-interest alarms, including Trump policy announcements that have briefly boosted the value of its stock. It has multiple foreign investors, The New York Times reported recently, noting that they would be prohibited from donating to Trump’s campaign under federal law. A spokesperson for World Liberty, David Wachsman, said “it would be false, absurd and dangerous to suggest that investments or partnerships with World Liberty Financial were conducted as some sort of political quid pro quo,” adding that “never has an investor or partner requested any political favoritism. Nor would we ever entertain such a possibility.”
That’s all from me today folks, gonna get some rest and hope I could earn the commission for the next earning stay strong see you tomorrow peace out $BTC #MarketPullback #SaylorBTCPurchase #GoodNight
I think $BTC is imminent going to the downside as we’re seeing more pullbacks occurs, it’s gonna be an interesting week for us #MarketPullback #SaylorBTCPurchase
Ripple secures first DFSA license for blockchain payments in the UAE, opening access to a $400B trade hub with regulated cross-border services and RLUSD stablecoin.
The license permits Ripple to offer its cross-border payments platform, Ripple Payments, across the region—a move seen as pivotal for the company and digital asset adoption in the Middle East.
The company noted:
Ripple is the first blockchain-powered payments provider to be licensed by the Dubai Financial Services Authority (DFSA) to bring its flagship cross-border payments solution, Ripple Payments, to businesses across the region.
Source: Bitcoin.comNews
This is a big milestone for ripple and also for $XRP community gonna become important asset in the future #rlusd #USStablecoinBill
I would definitely caution investors from reading too much into Saylor's bold $13 million prediction. It is pretty unclear how he comes up with these annual returns he's projecting. Trying to predict price targets for a volatile asset like Bitcoin almost seems impossible. That said, I do think investors can buy some Bitcoin for their portfolios, and that it can serve as another good diversifier. Given Bitcoin's finite supply of 21 million tokens, many believe Bitcoin can serve as a hedge against inflation, or a digital form of gold, which has been on a crazy run in recent years.
Furthermore, it's unclear what will happen to the U.S. dollar under Trump's tariffs and considering the debt issues the U.S. government is facing. Bitcoin has historically had an inverse relationship to the dollar, given it was created as an alternative currency. For all of these reasons, I think investors can have exposure to Bitcoin and that it will move higher over time. Whether it gets anywhere close to $13 million per token is a huge guess.
(From my perspective it’s not impossible but in our current state where $BTC was manipulated by whales it’s gonna be hard but it’s not impossible not a financial advise)
*Energy use in a Kuwaiti city fell by over 50% after authorities cracked down on crypto mining*
Authorities in Al-Wafrah, Kuwait, cracked down on alleged crypto miners in the city, which resulted in a 55% decrease in power consumption the following week. According to Reuters, Kuwait is in a power crisis as summer temperatures are soaring. Its growing number of citizens are pushing the power grid to keep cool while some power plants are experiencing maintenance delays. Kuwaiti authorities allege that cryptocurrency miners are pushing power demand beyond the country's capacity, leading to blackouts and a "major" power crisis.
Cryptocurrency trading is illegal in Kuwait, but mining is not explicitly banned. Nevertheless, the government's interior ministry said it "constitutes an unlawful exploitation of electrical power…and may cause outages affecting residential, commercial, and service areas, posing a direct threat to public safety." The government raid covered about 100 homes suspected of hosting crypto mining operations, with some using more than 20 times the electricity consumption of the average Kuwaiti home.
Crypto mining is a power-intensive activity, with one Bitcoin transaction consuming more than 1,047 kWh of electricity — about the same amount of power that the average U.S. household uses in over a month. Researchers estimated that Kuwaiti miners were responsible for less than half a percent of global mining activities in 2022. However, Digiconomist founder Alex de Vries-Gao told Reuters, "It only takes a very small share of the total bitcoin mining network to have a significant impact on the relatively small total electricity consumption of Kuwait."
$STO Introduction: StakeStone is a decentralized omnichain liquidity protocol. This means it is not based only on one chain but rather on multiple chains and other EVM-compatible chains. In such a way, it can utilize liquidity on various ecosystems.
$STO focuses on providing native staking income and liquidity for L2 crypto networks. The protocol allows users to stake coins like Ethereum and Bitcoin. Participants receive STONE (Staked ETH) and SBTC (Staked BTC).
Those newly created tokenized assets can be used in decentralized finance (DeFi), GameFi, and NFTFI projects on different chains.
Native token STO serves as a governance token, which allows users to make decisions and shape the project as they like. The overall idea behind the project is to supply sustainable liquidity to multiple DeFi projects on many different chains.
So $BTC continue to go sideways plus retracing the projection so what will happen next week is it gonna be another push to a higher level or another correction to the downside gonna be an interesting week ahead
$BTC I’ve realized sometimes people are not meant to trade crypto’s especially in future trading but from what I learned there’s more to them I mean you can trade using spot it’s more safer than I thought so probably you guys need to know what are the best strategy for yourself everyone could succeed in their own way don’t give up guys
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