Connect with us

24/7 Cryptocurrency News

Ross Ulbricht Freedom Promise Renewed by Donald Trump

Published

2 months ago

on


Speaking at the Bitcoin Conference 2024 in Nashville, former President Donald Trump announced that he would commute Ross Ulbricht’s sentence. During his speech, he told his supporters that if he won a second term, this case will be his priority.

“Enough is enough!” Trump exclaimed with a promise to act immediately on the first day of his presidency.

Ross Ulbricht Freedom Promise Renewed by Trump

In a speech at Nashville’s Bitcoin Conference 2024, Former President Donald Trump said that he would pardon Silk Road Founder Ross Ulbricht. Besides, many members of the Bitcoin community have also shown support for Ross Ulbricht, who has been imprisoned since 2013 after creating and running the darknet market site Silk Road.

This earned cheers from some conference attendees as it symbolized the importance of such commitment to them. In response to President Trump’s first promise in May, Ulbricht thanked Trump for providing unwavering support for him hoping that one day he could give him another chance. 

Therefore, before the Bitcoin conference, David Bailey, CEO of Bitcoin Magazine, articulated that any presidential candidates wishing to get votes from the crypto community should commit themselves to freeing Ross Ulbricht. For instance, even Kamala Harris should have promised to release convicted black-market marketplace operators if she was present alongside Trump at this year’s BTC event. Robert F. Kennedy Jr had also committed himself earlier, according to David Bailey.

Pro-Bitcoin and Crypto Agenda

Additionally, during his speech Trump outlined an all-encompassing plan aimed at making the US to become number one when it comes to Bitcoins and other cryptocurrencies. This included specific step-by-step plans aimed at making America “the world’s capital of Bitcoins and cryptos.”

Among these features are firing Gary Gensler, SEC Chairman, from his current position within 100 days and establishing an operation named Operation Chokepoint. Also, he assured preventing the introduction of Central Bank Digital Currency (CBDC) and ensuring that people’s rights to self-custody of virtual assets are protected.

Trump, in addition, has a broader goal of creating one united Bitcoin vault. This would involve the US government retaining all its Bitcoin holdings in order to establish a Strategic National Bitcoin Reserve. The President disclosed plans to work together with Senator Cynthia Lummis on the introduction of the Bill for Bitcoin Strategic Reserve.

The effort aims at collecting 1 million Bitcoins over five years from surplus Federal Reserve balance sheet items. Consequently, Trump pointed out that this move would reduce the national debt and strengthen the country’s position financially as well.

Read Also: Donald Trump To Fire SEC Chair Gary Gensler On Day 1

✓ Share:

Kelvin is a distinguished writer specializing in crypto and finance, backed by a Bachelor’s in Actuarial Science. Recognized for incisive analysis and insightful content, he has an adept command of English and excels at thorough research and timely delivery.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Related Topics:
Continue Reading

24/7 Cryptocurrency News

$524 Became $3.78M as Bitcoin Holder Moved 59 BTC After 13 Years

Published

19 mins ago

on

September 20, 2024

By


After weeks, the crypto market is in a better stage, where the user’s sentiments are finally out of the fear zone. Even the global market capitalization is at a new peak in weeks, currently at $2.21 Trillion. It came after the surge in the Bitcoin price, influenced by the Fed’s interest rate cut of 0.50%. This has boosted the entire crypto market, where one Bitcoin holder got the biggest benefit as it came out of 13-year dormancy, making $3.8 Million from just $524.

This holder’s journey represents the crypto market’s functioning and how crypto traders made millions in the last few days. However, there is still a long way to go, bearing market volatilities and uncertainties before the bull run hits the market.

Bitcoin Holder 59 BTC Investment Made $3.78 Million

It has been said multiple times by experienced crypto traders to keep the crypto holding for long for higher gains, and this one Bitcoin holder has taken it seriously as he has been holding BTC for 13 years now. The Whale Alert, a blockchain tracker, revealed this dormant Bitcoin whale re-entering the market after 13.1 years, carrying  59 BTC worth 3,781,424 USD.

💤 A dormant address containing 59 #BTC (3,781,424 USD) has just been activated after 13.1 years!https://t.co/2Cys4x7E04

— Whale Alert (@whale_alert) September 20, 2024

This Bitcoin whale made the last transaction in August 2011, when the BTC price was around $8.79. With this, his $524.96 has turned into $3.76 Million, bagging an ROI of $3,759,475.04.

Interestingly, despite having such heavy profits, the owner is still holding all these tokens and has only made a small transaction to test the transfers. The platform revealed that the Bitcoin holder made its first transaction in 13 years, transferring 0.00000778 BTC ($0.49) at 03:36 a.m. (UTC) today.

Even Arkham Intelligence has confirmed the crypto whale holding all the 59.723 BTC, worth $3.76M at the current Bitcoin price of $62,905.00. It indicates the holder’s strong trust in the token and his expectation of new highs despite making a profit of 725,357% in its BTC investment.

Bitcoin Price To Surge $120K?

In the last few days, Bitcoin has gained quite a momentum, as the price has surged 9% over the week, currently trading at $62,905. It is quite an impressive achievement for the token as September is known to be a losing month historically, followed by an uptrend in October. Many analysts have called it to the early beginning of Uptober, whereas many doubt it to be another lower high, causing uncertainties in the market.

Amid these uncertainties, the Fed’s decision to implement a 0.5% rate cut after four years might boost the BTC price. Additionally, with the upcoming bull run and Uptober, many analysts have claimed the Bitcoin price to rise as high as $120K.

The price target for this #Bitcoin bull flag is $120k.

Are you mentally prepared? pic.twitter.com/v6yWljKeYp

— Crypto Rover (@rovercrc) September 16, 2024

Final Thoughts

After the sudden boost in the market, a Bitcoin whale has re-entered the crypto market with 59 BTC, worth $3.78 Million at the current BTC price. Interestingly, this Bitcoin holder has had these tokens for 13 years, gaining these at merely $524, and the same are worth almost $4 million today. He still holds all these tokens and has made a small transaction of 0.00000778 BTC ($0.49) to test the transactions. More importantly, as many analysts anticipated the Bitcoin price to rise $120K, the same investment would grow to $7,080,000.

✓ Share:

Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

24/7 Cryptocurrency News

How Bitcoin Price Surges After Donald Trump Uses Crypto Payment for Dinner

Published

4 hours ago

on

September 20, 2024

By


The Bitcoin price today is up as Donald Trump made a crypto payment using the flagship crypto while buying food for supporters during a campaign stop in New York. This development again highlights how much the former US President could impact the crypto’s price, with analysts predicting a Bitcoin price surge if Trump wins.

Bitcoin Price Surges Following Donald Trump’s Crypto Payment

Bitcoin is up over 9% since the former US President used the crypto to make a payment at the PubKey bar in New York during a campaign stop. Trump bought almost $1,000 worth of burgers and drinks for the supporters at the bar.

ImageImage

The moment was historic as Donald Trump became the first president to transact in BTC. As such, this explains why the BTC price has surged following this event. Nate Geraci, the President of the ETF Store, highlighted how “highly noteworthy” this was for the cryptocurrency. He claimed that this shows that Bitcoin now matters.

Earlier this year, Trump declared his support for flagship crypto and other cryptocurrencies. He has gone as far as calling himself the ‘Crypto President.’ His newfound love for crypto is also believed to have led him to launch his DeFi crypto project – World Liberty Financial.

Based on Trump’s pro-crypto stance, experts like Bernstein analysts have projected that the flagship crypto could rise to as high as $90,000 if he wins the November elections. The Bitcoin price today proves that these analysts might have a point, seeing how it has surged since Donald Trump’s crypto payment in New York.

Specifically, Trump’s victory could spark a bullish sentiment towards BTC, just like it did following his payment. A crypto community member, known as ‘Chairman’ on the X platform and with over 800,000 followers, stated that Bitcoin would hit $100,000 if Trump wins. Jake Gagain, a crypto influencer, remarked this was “so bullish.”

Meanwhile, although Trump’s crypto payment could have impacted the Bitcoin price today, it is also worth mentioning the Fed rate cut, which has also provided bullish momentum for the flagship crypto.

Bitcoin’s Fate Rests On The Elections

Economist Alex Krüger stated that Bitcoin’s path is still “heavily dependent” on who wins the US presidential elections. The economist suggested that the Bitcoin price would surge if Donald Trump wins in November. Besides BTC, Krüger also indicated that altcoins will enjoy a parabolic rally if the former US President comes out on top. He advised market participants to max long these coins if Trump is coming up ahead in the counts on Election night.

The latest Polymarket data shows that Donald Trump has a 48% chance of winning the elections while Kamala Harris has a 51% chance. Following his stop at the Bitcoin bar in New York, Trump urged crypto voters to go out and vote. He added that they cannot lose if they vote.

Indeed, the crypto voters will have a say in the upcoming elections. During an event organized by the ‘Stand With Crypto’ non-profit organization, Coinbase’s CEO Brian Armstrong stated that the crypto electorates exist and that they will have a voice in this election.

✓ Share:

Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

24/7 Cryptocurrency News

Will These Satoshi-Era Dormant Wallets Impact Bitcoin Next Rally?

Published

8 hours ago

on

September 20, 2024

By


Data from crypto monitoring services reveals that five Satoshi-Era wallets, inactive since 2009, have transferred a total of 250 Bitcoin, valued at approximately $15.9 million. Each wallet had originally accumulated 50 BTC as block rewards, a common practice in the early days of Bitcoin when mining difficulty was significantly lower. The reactivation of these wallets has raised questions about their impact on current market dynamics.

2009 Bitcoin Wallets Active Again: Market Ripple or Surge?

Recent activity in long-dormant Bitcoin wallets has captured the attention of the cryptocurrency community. Whale Alert and other blockchain analysis tools have reported that a group of five wallets, each containing funds mined in the early days of Bitcoin, have become active after more than a decade of inactivity. 

These wallets, holding 250 BTC collectively, transferred these funds in a series of transactions within just an hour. Each wallet received 50 BTC as mining rewards per block back in 2009, showcasing the foundational days of Bitcoin’s blockchain technology.

Additionally, this month has seen multiple instances of dormant BTC wallets becoming active. Notably, one wallet containing 43 BTC, worth over $2.5 million at the time, activated after nearly 11 years. Last week, four additional wallets were activated, with one containing BTC valued at $10.5 million during the activation, highlighting a trend of reawakening among Satoshi-era assets.

The sudden movement of these BTC whales has prompted speculation about the owners’ identities and their reasons for activating now. This event coincides with a significant surge in BTC price, which briefly topped $64,000, its highest mark since late August. 

There is no direct evidence linking the activation of these wallets to the recent cryptocurrency price increase. However, past patterns suggest that movements from historic wallets can influence market perceptions and investor behavior due to the large amounts of BTC involved.

Chart analyst Ali has noted that Bitcoin is once again testing the 200-day SMA, a critical technical indicator often associated with determining long-term market trends. Ali notes that historical patterns show that failing to reclaim this level has previously led to significant corrections in Bitcoin price, as observed in 2020, 2018, and 2014. 

<yoastmark class=<yoastmark class=

Ali advises investors to monitor this technical threshold closely. A successful breach above the 200-day SMA might solidify a bullish outlook for Bitcoin. He however warns that a rejection at this level could signal trouble for BTC Price.

The activation of these Satoshi-era wallets might play a role in either boosting the bullish sentiment or triggering cautious pullbacks among investors.

At press time, Bitcoin price is trading at $63,379.74, marking a 9.20% increase over the past seven days. The cryptocurrency’s trading volume has also surged, reaching $41.87 billion in the last 24 hours.

✓ Share:

Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. His work includes notable contributions to Cryptopolitan and Coingape News Media, where he shares his insights on the latest developments in the cryptocurrency market. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon