BTC will be international currency
BTC will be international currency. Starting with information about the crypto market. Bitcoin price has increased slightly to around $ 62,000. With BTC moving sideways above $ 60,000, investors expect altcoins to grow. At the top is ETH, which has also risen to around $ 4,100 and is only about 5% away from its old high.
Over the weekend, on-chain data showed that both BTC and ETH were pulling more off the exchange despite the price hike. Other on-chain data have not changed significantly from the previous days.
More good news from investors, institutions looking to invest in crypto and bitcoin are becoming more and more attractive.
senator Rand Paul also shows his confidence in BTC. He said Bitcoin could benefit and become the world’s reserve currency if people lose confidence in government institutions. “National currencies are very unreliable – they are also fiat currencies. You are not supported by anything– According to Mr. Rand Paul.
Senator Paul has never publicly endorsed any cryptocurrency other than Bitcoin. He was also the one who took BTC donations during the 2016 campaign, so the cryptocurrency Rand Paul is referring to here is believed to be Bitcoin.
So far, companies or banks that have criticized BTC have almost completely changed and accepted Bitcoin. Major banks in the US or Visa, Paypal have also accepted and offered crypto-related services for their customers. Recently, Master card has partnered with Bakkt to provide Crypto payments to companies and stores that accept Mastercard. This means companies can activate crypto features through Mastercard without having to understand much about crypto.
After Tesla stopped accepting payments in BTC because BTC was mined using fossil fuels, Tesla signaled a change. In its Q3 report, Tesla said it could resume crypto trading for its products and services in the future.
Tesla continuously adapts its investment strategy in order to achieve liquidity and risk targets, such as: B. Investing in US public bonds and other marketable securities and digital assets. The company also expressed confidence in the long-term potential of digital assets as both an investment and a liquid alternative to cash.
Yesterday, billionaire Anthony Scaramucci says he holds $ 1 billion in bitcoin. And the amount of capital he previously invested in BTC was $ 250 million, the amount invested has quadrupled. With this share, Bitcoin was attractively advertised from a marketing point of view with real investment returns.
The growth of BTC as well as the enormous profits from the crypto market do not leave companies and even governments to the side. Once again, game theory is here to stay and no company wants to stay out of the crypto flow.
US Treasury Secretary Janet Yellen announced a proposal for a new tax rate that could affect unrealized capital gains. She said the proposal to consider new taxes that would hit the very rich has created a lot of controversy in the past. Many have expressed objections and pointed out the unreasonableness of this proposal. For now this is just a suggestion, we are waiting for more information. Thuan said this proposal has a huge impact on the market, and the wealthy in particular, so it could be difficult to get approved.
In 2021, BTC and crypto are penetrating deeper and deeper into the economy as well as politics in the United States. Bitcoin and crypto are a topic of discussion in Congress. Many political officials also expressed different views and many supporters. Especially congressmen in states looking to attract more investment, crypto companies in terms of economic benefits, jobs, and taxes for them.
Assets around the world are gradually being shifted to the younger generation who are very agile and interested in crypto investing. Therefore, the trend of wealth movement will also follow the investment trend of this younger generation.