Bitcoin

Kamala Harris Proves She's the Worst Candidate for Bitcoin Ownership and Adoption

Published

2 months ago

October 14, 2024

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Kamala Harris announced today she is “supporting a regulatory framework for cryptocurrency and other digital assets so Black men who invest in and own these assets are protected.”

Nope, that’s not clickbait: Harris’s first specific crypto policy is here, and it’s race-based.

As a Bitcoiner, I have to say, this is a huge misstep, and it shows Harris in no way understands Bitcoin, a network where everyone already has equal access regardless of race, color, creed.

Harris and the Democrats have for years touted themselves as “anti-racist,” while labeling their opponents and anyone who challenges them as racist. Here, Kamala is extending that policy to crypto, playing favoritism with one specific demographic.

Let’s just imagine Trump had come out with an agenda stating he will work on policy that will benefit white people in the crypto industry. The media would be in uproar about it. But, unlike Harris, Trump is not favoring one race of people over everyone else. He is making pro-Bitcoin policies that are for ALL Americans.

On this basis alone, Trump’s approach is undoubtedly far better for Bitcoin than the one Harris has proposed: he actually gives specific details on what exactly he would do to foster innovation within this industry if elected, and it explains how these policies benefit everyone.

This new rhetoric by Harris appears to be nothing more than just pandering for votes to one group of people, while likely losing votes from the others that she’s excluded. Any voter telling themselves otherwise is lying to themselves.

Let’s ask ourselves this, do we think that Harris’s policies will make it easier for Black Americans to access and own Bitcoin? Or do we think that her administration will make it more difficult? If more hurdles are placed on Black Bitcoin buyers, I for one, can’t imagine anything worse.

Bitcoin is an open source protocol open to anyone in the world. It does not care what race you are – anyone can use it. This policy is a slap in the face to all American Bitcoiners, and Bitcoin voters should head to the polls in three weeks to make sure she isn’t elected as President.

This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

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Bitcoin

A Very Bitcoin Christmas

Published

10 hours ago

December 25, 2024

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Twas the night before Christmas, and all on the chain, Bitcoin was soaring, with no hodler in pain.

The bulls had returned, sleighing bears left and right, now six figure Bitcoin was an everyday sight.

All miners were buzzing, hash rates on the rise, securing the network under wintery skies.

Our Lambos were gleaming, parked under the stars, proof that HODLing beats shitcoins by far.

El Salvador kept buying, more coin for their stocking, before dreams of more sats inevitably come knocking.

The ETFs rallied, their bids filled the air, it’s Bitcoin’s new era, Satoshi did declare.

Our on-chain data, so bright and so clear, Screamed “HODL through 2025, vast wealth will appear!”

With supply getting tighter, few coin left to sell, it’s the sound of adoption; Bitcoin’s doing swell.

When out on the charts there arose such a cheer, “A new all-time high! This is our year!”

To the exchanges we flew, with wallets in tow, the institutional FOMO already began to show.

Investors wondered if we could Supercycle, breaking the system with cheap debt from Michael.

Then who should appear in a sleigh trimmed with gold? Who else but Trump with a plan so bullish and bold.

“A strategic reserve!” he proclaimed with a roar, “America’s future is with Bitcoin I’m sure!”

He winked at the bulls as his sleigh took its flight, “Merry Christmas to hodlers, and to hodlers, a good night!”

If you’re looking for a last-minute gift for that special someone or feel like treating yourself, then how about giving the gift of a Bitcoin data analysis platform subscription, now with a whopping 30% off holiday discount:

https://www.bitcoinmagazinepro.com/subscribe/

Thanks for reading, and Merry Christmas!

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Bitcoin

Six Bitcoin (BTC) Mutual Funds to Launch in Israel Next Week: Report

Published

16 hours ago

December 25, 2024

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Six mutual funds tracking the price of bitcoin (BTC) will debut in Israel next week after the Israel Securities Authority (ISA) granted permission for the products, Calcalist reported on Wednesday.

All six will start operations on the same day, Dec. 31, a condition imposed by the regulator, Calcalist said. Final approval for the funds was granted last week.

The funds will be offered by Migdal Capital Markets, More, Ayalon, Phoenix Investment, Meitav and IBI, with management fees ranging from as high as 1.5% to 0.25%. One of the funds will be actively managed, trying to beat bitcon’s performance. They will initially transact just once a day, though future products will be able to trade continuously, Globes said in a Tuesday report, citing market sources.

The ISA’s approval comes almost a year after the U.S. Securities and Exchange Commission (SEC) greenlighted spot bitcoin exchange-traded funds (ETFs) in the world’s largest economy, during which the world’s largest cryptocurrency has more than doubled to trade near a record high. The U.S. funds have gathered a net $35.6 billion of investor cash.

“The investment houses have been pleading for more than a year for ETFs to be approved and started sending prospectuses for bitcoin funds in the middle of the year. But the regulator marches to its own tune. It has to check the details,” an unidentified senior executive at an investment house told Calcalist.

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Bitcoin

Macro Guru Raoul Pal Predicts Crypto Market Will Rally ‘Pretty Strongly’ Into Year-End – Here’s His Outlook

Published

2 days ago

December 24, 2024

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Former Goldman Sachs executive Raoul Pal believes that the crypto market will rally heading into the end of 2024.

In a new interview with crypto trader Scott Melker, the macro guru says that based on historic precedence, Bitcoin (BTC) and other digital assets may put up larger gains during the last week and half of December.

A rally at this time of year is often referred to as a Santa Claus rally, a financial term used to describe a calendar effect on traditional equities that historically have gone up on the last five market trading days of the year in December and the first two trading days of the new year.

“Normally, what happens at this phase is we should rally into year-end pretty strongly in everything. But then the real game gets played in first quarter.”

Pal also believes that the most explosive rally of the current market cycle is still to come and that it could occur next year, possibly around the Fed’s meeting in March when rates may be cut.

“I think my next phraseology is going to be the banana singularity, that’s when everything goes bananas…

So we’re not at the banana zone singularity point yet. That will come as well. That’s probably sometime Fed March when it all gets silly.”

However, Pal also warns there may be a temporary correction around the end of the year after a rally due to liquidity tightening. He believes the growing money supply is a catalyst for Bitcoin price, and that when it declines so does the flagship crypto’s price.

“Let’s look at the last [US President Donald] Trump administration. So from September to the end of the year, the dollar rallied. September to the end of the year, rates went up. Same narrative. It was all about tariffs and what’s he going to do and how’s it going to play out.

Almost exactly as the year turned, the dollar went lower, the rates went lower. So I’ve been producing a chart showing that global liquidity tightened and it has a 10-week lead time, and that should mean that at the end of the year, we get a correction.”

Bitcoin is trading for $94,367 at time of writing, down more than 11% in the last seven days.

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