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Florida Chief Financial Officer Jimmy Patronis has formally asked the state's pension fund administrator to consider the feasibility of investing in Bitcoin, announcing that the state will use BTC as a strategic reserve asset. The company was positioned as having the potential to be adopted. In a letter dated October 29, 2024, to Florida State Board of Supervisors (SBA) Executive Director Chris Spencer, Patronis outlined his vision for integrating Bitcoin into the state's investment portfolio. There is. Patronis' proposal follows former President Donald Trump's recent speech at the Bitcoin 2024 conference, where Trump advocated for the United States to establish…
Visa has launched a funds transfer partnership with cryptocurrency exchange Coinbase. According to a Tuesday (October 29) news release, the partnership will connect Coinbase to the Visa Direct network and allow customers of the exchange to deposit funds into their accounts via eligible Visa debit cards. That's what it means. “Providing this functionality to our customers supports our mission to increase economic freedom around the world,” Akash Shah, Coinbase's senior director of product management, said in a release. “Our integration with Visa Direct gives eligible customers real-time access to funds for trading. By enabling them to seamlessly move money and…
Bitcoin (BTC) soared 9.7% from October 27th to October 29th, reaching a high of $73,575, before paring the gains and retesting the $71,500 level on October 30th. Despite Bitcoin's price correction, several indicators, such as derivatives market activity and on-chain indicators, fell. , and demand for the stablecoin suggests a solid foundation for a sustained rally above $73,000 in the near term.However, Bitcoin futures premiums, a key measure of leverage demand, show strong confidence among bullish investors.Bitcoin 2 month futures premium. Source: laevitas.chIn neutral market conditions, monthly futures contracts typically carry a 5% to 10% annual premium to account for…
Traditional finance recognizes that cryptocurrencies are more than just investable assets.In the EU, fintech has become a major competitor for crypto natives.Stripe is heating up cryptocurrencies.The payments giant’s $1.1 billion acquisition of stablecoin platform Bridge heralds the next stage in the evolution of cryptocurrencies, pitting native brands against fintechs, banks and asset managers.That's according to Gillian Lynch, head of Ireland and EU at Cameron and Tyler Winklevoss' crypto exchange Gemini, who claims the evolution is already evident in the European Union.”If you look at our competitors here in the EU, fintech is a huge competitor, but this is probably a…
=nil's first public testnet. The Ethereum Layer 2 protocol using zero-knowledge sharding is currently live. =nil;The Foundation announced Testnet v1 on October 30th, noting that this release marks another milestone as the Ethereum (ETH) L2 protocol approaches mainnet. Testnet follows previous devnet releases of the platform that allow developers to stress test proof-of-concept projects. With the public release of =nil, zkRollup in Testnet v1 aims to gather valuable feedback from a broader user group. This release focuses on improving the development experience for user testing. By testing zkSharding, developers can now access an expanded ecosystem of decentralized applications. Testnet v1…
Japanese investment firm Metaplanet currently holds over $168 million worth of Bitcoin after recent BTC purchases. After announcing a change in its financial management strategy earlier this year, the company began accumulating the top crypto asset by market cap, purchasing a total of 156.78 BTC over the weekend. To explain about Metaplanet at that time, “This move is a direct response to sustained economic pressures in Japan, particularly high government debt levels, a long period of negative real interest rates, and the resulting weaker yen. Metaplanet's strategy is to A Bitcoin-first, Bitcoin-only approach is a clear priority for the company,…
Ethereum significantly underperformed Bitcoin in 2024. This is widely known. Specifically, ETH is up 18% for the year and BTC is up 70% as of this writing. Bitcoin continues to get all the attention as it nears a breakout attempt and new all-time highs, and rightly so. Aether may seem to have fallen out of favor for quite some time, but it's no different from what we've seen over the years. In fact, this is the third time since 2016 that the relative ETH/BTC line has trended downward. Admittedly, the current decline is the longest of the three, but clearly…
Disclosure: This article does not represent investment advice. The content and materials published on this page are for educational purposes only. In October of this year, an unexpected player has surpassed the major cryptocurrencies and is attracting the attention of the crypto community. An unexpected player has outperformed major digital currencies this October. While the most famous cryptocurrencies are gaining traction, another investment is quietly overtaking them all. This amazing asset is gaining attention in the cryptocurrency community. What is this rising star that is overtaking the top digital tokens? Discover investments that challenge the dominance of established cryptocurrencies. It…
bit by bit chief investment officer matt hogan on Wednesday, expressed optimism about Bitcoin's BTC/USD In the future, we predict that it may exceed the $100,000 level by 2025. what happened: In an interview with Yahoo Finance, Hogan cited increased adoption by institutional investors and increased ETF flows as the main drivers. “We're going to take Bitcoin to six digits,” Hogan said, adding, “Cryptocurrency has gone from niche to mainstream. 60% of the largest hedge funds are allocated to it. .” Hogan emphasized that regulatory clarity is becoming less of an obstacle for Bitcoin compared to other digital assets where…
New figures show the eurozone grew twice as fast as economists expected in the third quarter. Germany managed to avoid recession.Eurozone growth accelerated to 0.4% in the July-September period from 0.2% in the second quarter, according to new “flash” figures released by Eurostat. The figures show that the French economy recovered during this period due to the impact of the Olympics, while Germany, the region's largest economy, posted a better-than-expected quarterly growth rate of 0.2%.Most economists had expected it to contract by 0.2%, but report It was revealed that domestic demand increased faster than expected.However, revisions to earlier statistics mean…