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Biden SC Reform Challenges Donald Trump Immunity Ruling

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On Monday, July 29, U.S. President Joe Biden has unveiled a comprehensive three-pronged proposal aimed at reforming the Supreme Court. This move marks a significant policy focus for the remaining months of his presidency. Moreover, the reform aims to challenge former President Donald Trump’s immunity ruling.

Biden’s SC Proposal Pits Against Donald Trump Ruling

Biden’s proposal includes the implementation of term limits for Supreme Court justices, the establishment of a binding ethics code, and the introduction of a constitutional amendment that declares presidents are not immune from criminal prosecution for crimes committed while in office.

The amendment, named the “No One Is Above the Law Amendment,” is a direct response to a controversial Supreme Court ruling earlier in July. The ruling declared former President Donald Trump immune from criminal prosecution for the ‘official acts’ he committed during his presidency.

“This decision today has continued the Court’s attack in recent years on a wide range of long-established legal principles in our nation,” Biden stated. Furthermore, he criticized the Supreme Court’s 6-3 ruling on presidential immunity that favored Donald Trump. Biden added, “From gutting voting rights and civil rights to taking away a woman’s right to choose, to today’s decision that undermines the rule of law of this nation.”

In addition, the proposed ethics code is also a reaction to recent scandals involving Supreme Court justices Clarence Thomas and Samuel Alito. They were found to have accepted undisclosed financial gifts that presented significant conflicts of interest. Biden emphasized the need for an ethics code to restore public trust in the judiciary.

Reform Approval Odds & Texas Speech

Over the course of his administration, Biden has been increasingly vocal about his dissatisfaction with the conservative-majority Supreme Court. The Court’s decisions to repeal federal abortion protections, limit affirmative action in college admissions, and strike down Biden’s student debt relief program have been points of contention. These rulings have galvanized Biden to push for substantial reforms.

“I’m going to call for Supreme Court reform because this is critical to our democracy,” Biden declared in a national address from the Oval Office on Wednesday. His reform plan is part of his effort to cement his legacy in the less than six months remaining in his term.

Also, it’s important to note that this announcement comes shortly after Biden withdrew from the presidential race, endorsing Vice President Kamala Harris as his successor. Turning these proposals into law, however, poses a significant challenge.

Congressional approval is required, and given the current partisan split in Congress, achieving this will be an uphill battle. A constitutional amendment, in particular, demands a two-thirds majority approval from both the House and the Senate, a feat that is significantly difficult to accomplish.

Meanwhile, Biden is set to further elaborate on his reform proposals during a speech at the LBJ Presidential Library in Texas later on Monday. This address is expected to outline the specifics of his plan. Moreover, his speech will rally support for what he views as essential changes to safeguard American democracy.

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Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.

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.





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Gary Gensler To Step Down As US SEC Chair In January

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In a recent development, the US Securities and Exchange Commission (SEC) announced that Gary Gensler will step down from his position next year. This follows calls for Gensler to resign since Donald Trump won the US presidential elections.

Gary Gensler To Step Down As US SEC Chair

The US SEC announced in a press release that Gary Gensler will depart the Agency on January 20, 2025. The US SEC Chair also confirmed this development in an X post. Interestingly, this comes on the same day that Donald Trump will be inaugurated as the 47th president of the United States.

Following the announcement, Gensler also used the opportunity to reflect on his time at the Commission. He remarked that it has been an “honor of a lifetime” to serve alongside those at the SEC. He also thanked President Biden for the opportunity to serve in the position. Gensler has been the US SEC Chair since April 2021. During his time, he has spearheaded several litigations against the crypto industry.

This includes the long-running legal battle with Ripple, which Gensler took over from his predecessor Jay Clayton, which bordered on whether XRP was a security. Up till now, the Agency continues to reiterate this ‘digital asset securities’ claim.

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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.





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Bitcoin Miner MARA Holdings Raises $1B To Buy More Bitcoin

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Bitcoin Miner MARA Holdings has raised approximately $1 billion through the sale of its convertible notes. The Bitcoin miner revealed that some of the proceeds from this sale would be used to buy more BTC, although they didn’t mention the exact amount.

Marathon Digital Raises $1B To Buy More Bitcoin

In a press release, the Bitcoin miner revealed that it had raised net proceeds of $980 million from its convertible notes sale after deducting the initial purchaser’s discounts and commissions but before the estimated offering expenses payable by the company.

This development is significant as MARA Holdings revealed that it will use some of the net proceeds to acquire additional BTC. It is worth mentioning that the Bitcoin miner already holds around 27,000 BTC and is the public company with the second-largest Bitcoin holdings.

This development comes as MARA also recently unveiled plans to raise $700m through convertible notes, which will mature in 2030. Meanwhile, the Bitcoin miner looks to be going head-to-head with MicroStrategy, which also recently upsized its private offering to $2.6 billion. The software company will use some of the proceeds to buy more BTC.

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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.





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How Will BTC React to $3B Buying Spree?

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Bitcoin (BTC) price today trades at $97,606.0 as of 10 AM. BTC price hit a daily high of $97,837.0 today after rallying 4.41% on November 21.

Why Is Bitcoin Price Up Today?

Bitcoin price today is up 4.41% today and currently auctions around $97,606.0. Since the breakout from the seven-month consolidation and the $75k hurdle, the crypto market outlook has turned bullish. While a few altcoins shoot higher, the alt season is yet to begin.

*bitcoin price updated as of 10 AM.

Price of BTC trades at $97,606.0, bringing the year-to-date gain from 56% on October 20 to 108% as of November 18. Although many altcoins have shot up over triple digits, Bitcoin is catching up. Ethereum price’s YTD performance is lackluster, stands at 39%, and is well below BTC.

Although Bitcoin is the largest cryptocurrency by market capitalization, Bitcoin’s popularity is due to its first-mover advantage and its being a secure, decentralized network. In addition, many narratives, like digital gold, inflation hedges, and uncorrelated assets, have kept BTC at the forefront of the crypto market since its inception in 2009.

Bitcoin Price Eyes Bullish End to 2024

Industry veterans’ speculation of a bull run post-US elections was right, and Bitcoin is likely to end November 2024 on a positive note. Many even expect a six-digit target for BTC by the end of November, and this is due to the historical returns. History shows that Bitcoin has always performed massively in the fourth quarter.

Historical Bitcoin Price PerformanceHistorical Bitcoin Price Performance
Historical Bitcoin Price Performance

With that said, if Bitcoin price hits a new ATH in November or December, Bitcoin’s market capitalization, which stands at $1,931.5 billion could push toward the $2 trillion mark.

Bitcoin: The Largest Cryptocurrency

 

While Bitcoin’s market cap hovers around $1,931.5 billion, with Ethereum, the duo controls nearly 65% of the total cryptocurrency market capitalization, which is $2.40 trillion. Despite the seven-month consolidation, Bitcoin’s $1.3 trillion market cap remains strong, anticipating it reaching $2 trillion in 2025.

BTC’s 24-hour Trading Volume

Being the top crypto has its benefits; more people tend to flock toward the asset. Likewise, BTC’s 24-hour trading volume stands at $99.0 billion. Binance, one of the largest cryptocurrency exchanges, contributes a major portion of this volume. Binance’s share of BTC’s 24-hour trading volume comprises spot and perpetuals trading. While spot volume hovers around 11%, perpetual volume is 41%. Exchanges like OKX, Bitget, etc, follow Binance.

Bitcoin Blockchain Upgrades

With a market cap of $1.3 trillion, it is necessary for the network to remain secure, decentralized, and scalable. This is possible by upgrading the Bitcoin network regularly.

Here are some notable upgrades the Bitcoin network has received or planned to receive since its inception in 2009.

Bitcoin Network Upgrades Since 2009

Here are some key milestone upgrades to the Bitcoin network over the past decade.

2017-2019

2015-2016

2013-2014

2010-2012

2009-2010

Bitcoin Price Forecast For Next Month

DatePriceChange
November 21, 2024$94,6790.29%
November 22, 2024$99,3645.25%
November 23, 2024$100,9356.91%
November 24, 2024$101,7447.77%
November 25, 2024$102,6398.72%

Based on Coingape’s Bitcoin price prediction, investors can expect a double-digit rally that leads to a peak of $104,725 as of November 26, leading to a correction. In a month from now, the largest crypto by market cap could be exchanging hands at around $100k.

Bitcoin Price Forecast Between 2025 and 2029

January$100,873.53$99,727.36$100,300.45

61.3%

February$100,812.06$99,696.19$100,254.13

61.3%

March$100,750.58$99,665.02$100,207.81

61.2%

April$100,689.11$99,633.85$100,161.49

61.1%

May$100,627.64$99,602.68$100,115.17

61%

June$100,566.17$99,571.52$100,068.85

61%

July$100,504.69$99,540.35$100,022.52

60.9%

August$100,443.22$99,509.18$99,976.20

60.8%

September$100,381.75$99,478.01$99,929.88

60.7%

October$100,320.28$99,446.84$99,883.56

60.7%

November$100,258.80$99,415.67$99,837.24

60.6%

December$100,197.33$99,384.50$99,790.92

60.5%

All Time$100,535.43$99,555.93$100,045.68

60.9%

January$103,010.64$102,667.46$105,097.01

69%

February$105,823.94$105,950.42$110,403.10

77.6%

March$108,637.25$109,233.38$115,709.19

86.1%

April$111,450.55$112,516.33$121,015.28

94.6%

May$114,263.86$115,799.29$126,321.37

103.2%

June$117,077.17$119,082.25$131,627.46

111.7%

July$119,890.47$122,365.21$136,933.55

120.2%

August$122,703.78$125,648.17$142,239.64

128.8%

September$125,517.08$128,931.13$147,545.73

137.3%

October$128,330.39$132,214.08$152,851.82

145.9%

November$131,143.69$135,497.04$158,157.91

154.4%

December$133,957$138,780$163,464

162.9%

All Time$118,483.82$120,723.73$134,280.51

116%

January$139,801.17$144,684.75$169,276.92

172.3%

February$145,645.33$150,589.50$175,089.83

181.6%

March$151,489.50$156,494.25$180,902.75

191%

April$157,333.67$162,399$186,715.67

200.3%

May$163,177.83$168,303.75$192,528.58

209.7%

June$169,022$174,208.50$198,341.50

219%

July$174,866.17$180,113.25$204,154.42

228.4%

August$180,710.33$186,018$209,967.33

237.7%

September$186,554.50$191,922.75$215,780.25

247.1%

October$192,398.67$197,827.50$221,593.17

256.4%

November$198,242.83$203,732.25$227,406.08

265.8%

December$204,087$209,637$233,219

275.1%

All Time$171,944.08$177,160.88$201,247.96

223.7%

January$212,511.67$218,298$243,655

291.9%

February$220,936.33$226,959$254,091

308.7%

March$229,361$235,620$264,527

325.5%

April$237,785.67$244,281$274,963

342.3%

May$246,210.33$252,942$285,399

359%

June$254,635$261,603$295,835

375.8%

July$263,059.67$270,264$306,271

392.6%

August$271,484.33$278,925$316,707

409.4%

September$279,909$287,586$327,143

426.2%

October$288,333.67$296,247$337,579

443%

November$296,758.33$304,908$348,015

459.8%

December$305,183$313,569$358,451

476.5%

All Time$258,847.33$265,933.50$301,053

384.2%

January$317,150.58$326,144.33$372,391.92

499%

February$329,118.17$338,719.67$386,332.83

521.4%

March$341,085.75$351,295$400,273.75

543.8%

April$353,053.33$363,870.33$414,214.67

566.2%

May$365,020.92$376,445.67$428,155.58

588.7%

June$376,988.50$389,021$442,096.50

611.1%

July$388,956.08$401,596.33$456,037.42

633.5%

August$400,923.67$414,171.67$469,978.33

655.9%

September$412,891.25$426,747$483,919.25

678.4%

October$424,858.83$439,322.33$497,860.17

700.8%

November$436,826.42$451,897.67$511,801.08

723.2%

December$448,794$464,473$525,742

745.6%

All Time$382,972.29$395,308.67$449,066.96

622.3%

By 2025, Bitcoin price could hit the six-digit territory, and expect a massive bull run to kickstart in the years leading up to 2029. Coingape’s Bitcoin price prediction notes that BTC could trade between $82,213.41 and $660,471.83 by 2029.

Bitcoin Price Outlook between 2030 and 2050

2030

2031

2032

2033

2040

2050

January$465,154.42$481,462.17$546,469.67

779%

February$481,514.83$498,451.33$567,197.33

812.3%

March$497,875.25$515,440.50$587,925

845.6%

April$514,235.67$532,429.67$608,652.67

879%

May$530,596.08$549,418.83$629,380.33

912.3%

June$546,956.50$566,408$650,108

945.7%

July$563,316.92$583,397.17$670,835.67

979%

August$579,677.33$600,386.33$691,563.33

1012.3%

September$596,037.75$617,375.50$712,291

1045.7%

October$612,398.17$634,364.67$733,018.67

1079%

November$628,758.58$651,353.83$753,746.33

1112.4%

December$645,119$668,343$774,474

1145.7%

All Time$555,136.71$574,902.58$660,471.83

962.3%

January$667,167.08$691,240.58$802,526.58

1190.8%

February$689,215.17$714,138.17$830,579.17

1235.9%

March$711,263.25$737,035.75$858,631.75

1281.1%

April$733,311.33$759,933.33$886,684.33

1326.2%

May$755,359.42$782,830.92$914,736.92

1371.3%

June$777,407.50$805,728.50$942,789.50

1416.4%

July$799,455.58$828,626.08$970,842.08

1461.5%

August$821,503.67$851,523.67$998,894.67

1506.7%

September$843,551.75$874,421.25$1,026,947.25

1551.8%

October$865,599.83$897,318.83$1,054,999.83

1596.9%

November$887,647.92$920,216.42$1,083,052.42

1642%

December$909,696$943,114$1,111,105

1687.1%

All Time$788,431.54$817,177.29$956,815.79

1439%

January$946,061.92$979,838.83$1,150,786.08

1751%

February$982,427.83$1,016,563.67$1,190,467.17

1814.8%

March$1,018,793.75$1,053,288.50$1,230,148.25

1878.6%

April$1,055,159.67$1,090,013.33$1,269,829.33

1942.4%

May$1,091,525.58$1,126,738.17$1,309,510.42

2006.3%

June$1,127,891.50$1,163,463$1,349,191.50

2070.1%

July$1,164,257.42$1,200,187.83$1,388,872.58

2133.9%

August$1,200,623.33$1,236,912.67$1,428,553.67

2197.7%

September$1,236,989.25$1,273,637.50$1,468,234.75

2261.6%

October$1,273,355.17$1,310,362.33$1,507,915.83

2325.4%

November$1,309,721.08$1,347,087.17$1,547,596.92

2389.2%

December$1,346,087$1,383,812$1,587,278

2453%

All Time$1,146,074.46$1,181,825.42$1,369,032.04

2102%

January$1,387,378.67$1,426,572.58$1,647,465.92

2549.9%

February$1,428,670.33$1,469,333.17$1,707,653.83

2646.7%

March$1,469,962$1,512,093.75$1,767,841.75

2743.5%

April$1,511,253.67$1,554,854.33$1,828,029.67

2840.3%

May$1,552,545.33$1,597,614.92$1,888,217.58

2937.1%

June$1,593,837$1,640,375.50$1,948,405.50

3033.9%

July$1,635,128.67$1,683,136.08$2,008,593.42

3130.7%

August$1,676,420.33$1,725,896.67$2,068,781.33

3227.5%

September$1,717,712$1,768,657.25$2,128,969.25

3324.3%

October$1,759,003.67$1,811,417.83$2,189,157.17

3421.1%

November$1,800,295.33$1,854,178.42$2,249,345.08

3517.9%

December$1,841,587$1,896,939$2,309,533

3614.7%

All Time$1,614,482.83$1,661,755.79$1,978,499.46

3082.3%

January$1,912,592.58$1,975,978.17$2,362,093.25

3699.3%

February$1,983,598.17$2,055,017.33$2,414,653.50

3783.8%

March$2,054,603.75$2,134,056.50$2,467,213.75

3868.4%

April$2,125,609.33$2,213,095.67$2,519,774

3952.9%

May$2,196,614.92$2,292,134.83$2,572,334.25

4037.4%

June$2,267,620.50$2,371,174$2,624,894.50

4122%

July$2,338,626.08$2,450,213.17$2,677,454.75

4206.5%

August$2,409,631.67$2,529,252.33$2,730,015

4291.1%

September$2,480,637.25$2,608,291.50$2,782,575.25

4375.6%

October$2,551,642.83$2,687,330.67$2,835,135.50

4460.1%

November$2,622,648.42$2,766,369.83$2,887,695.75

4544.7%

December$2,693,654$2,845,409$2,940,256

4629.2%

All Time$2,303,123.29$2,410,693.58$2,651,174.63

4164.3%

January$2,753,723.75$2,916,544.25$3,019,295.17

4756.4%

February$2,813,793.50$2,987,679.50$3,098,334.33

4883.5%

March$2,873,863.25$3,058,814.75$3,177,373.50

5010.6%

April$2,933,933$3,129,950$3,256,412.67

5137.7%

May$2,994,002.75$3,201,085.25$3,335,451.83

5264.9%

June$3,054,072.50$3,272,220.50$3,414,491

5392%

July$3,114,142.25$3,343,355.75$3,493,530.17

5519.1%

August$3,174,212$3,414,491$3,572,569.33

5646.3%

September$3,234,281.75$3,485,626.25$3,651,608.50

5773.4%

October$3,294,351.50$3,556,761.50$3,730,647.67

5900.5%

November$3,354,421.25$3,627,896.75$3,809,686.83

6027.7%

December$3,414,491$3,699,032$3,888,726

6154.8%

All Time$3,084,107.38$3,307,788.13$3,454,010.58

5455.6%

The bullish explosive trend noted up to 2029 will continue for BTC based on CoinGape predictions and potentially push the average price of BTC in 2050 between $2.9 million and $3.3 million. Investors should note that these long-term predictions can change and, hence, should be taken with a grain of salt.

How Will Bitcoin Price React to $3 Billion Buying Spree?

Michael Saylor, the CEO and founder of MicroStrategy, has increased the size of its convertible note from $1.75 billion to $2.6 billion. This suggests that the company will continue its BTC buying spree.

According to the announcement, the offering will close today, November 21, and is aimed at high-net-worth investors with a maturity of 2029. The blog also added,

“The notes will be sold in a private offering only to persons reasonably believed to be qualified institutional buyers.”

Investors need to note that the latest offerings has not finished yet, as MicroStrategy announces the new offering.

On a side note, here’s Michael Saylor’s tweet from two days ago.

Although this is fundamentally bullish for Bitcoin, the implication of this might not be felt in the short term. The lack of influence on BTC’s value can be attributed to over-the-counter (OTC) deals. Institutions or high-net-worth individuals use methods to conceal their buys in the short term and do not affect the market price of the underlying asset.

Regardless, the outlook is bullish, and the momentum is strong, so it wouldn’t be surprising if Bitcoin hits $100,000 before November ends.





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