Bitcoin
US detaining Bitcoin mining equipment at border: report
Published
1 month agoon
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adminU.S. Customs and Border Protection, at the request of the Federal Communications Commission, has been detaining imports of Bitmain’s Antminer ASIC miners at ports nationwide for up to two months.
The delays have impacted seven U.S.-based Bitcoin (BTC) mining companies without answers, according to a report from Blockspace. The detained models include the S21 and T21 series miners.
CBP has not disclosed the reason for the detentions or provided a timeline for resolution. Some affected companies have reported daily holding fees exceeding $200,000.
The holds do not appear to target other ASIC manufacturers, such as MicroBT or Canaan, and are reportedly concentrated at West Coast ports like San Francisco.
Border delay speculation
Industry speculation suggests the delays may be related to scrutiny of chips supplied by Xiamen Sophgo, a Chinese semiconductor company under investigation for allegedly violating U.S. sanctions, according to Blockspace.
Sophgo’s chips, including the CV1835, are reportedly used in certain Antminer models, such as the S19 and T21 series. Sophgo’s CEO, Micree Zhan, is also a co-founder of Bitmain, raising questions about potential links to the investigation.
The Department of Commerce began investigating Sophgo after discovering a chip linked to the company in a Huawei device. Huawei has faced U.S. sanctions since 2019 over national security concerns.
While no confirmed link exists between these sanctions and the detained Antminer shipments, sources speculate the FCC and CBP are inspecting imports for restricted components.
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They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
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Bitcoin
Bitcoin Should Be Much Higher Six Months From Now, According to Real Vision’s Jamie Coutts – Here’s Why
Published
9 hours agoon
January 9, 2025By
adminReal Vision’s chief digital assets analyst Jamie Coutts believes Bitcoin (BTC) will be at a significantly higher price six months from now.
Coutts tells his 32,400 followers on the social media platform X that the Fed will likely make additional rate cuts in the near future that would inject more liquidity into the markets and cause Bitcoin to surge.
Coutts shares a chart showing the historical relationship between the global money supply (M2) metric and Bitcoin, suggesting an M2 increase would send BTC higher.
“With the strong dollar becoming a real problem, I expected Bitcoin to be in the $80,000 range by now. This speaks to the strength of the underlying bid and the market’s expectations that the Fed will have to act; otherwise, things will start breaking. Regardless of the sequence of events, more liquidity is coming, and Bitcoin should be much higher six months from now.”
Coutts also expects greater adoption of Bitcoin by the private wealth segment, which includes high-net-worth individuals and families, noting these entities “are less concerned than CT’s (crypto Twitter’s) daily obsession over liquidity ups and downs.”
Another one of Coutts’ predictions for the coming months is that the relatively new artificial intelligence (AI) agents crypto sector will continue an upward trend.
Crypto AI agents are protocols built to autonomously perform tasks on behalf of users such as interacting with blockchains and decentralized finance (DeFi) platforms, trading and managing portfolios.
Said Coutts,
“Interest in AI agents in crypto took off in November 2024. Based on history, this trend is expected to last at least another four months, but probably longer. AI agents are not like the others – they unlock potential for every established and new use case.”
Bitcoin is trading for $94,592 at time of writing, down 2.4% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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With bitcoin’s price dipping significantly below $100k again, the “buy the dip” cheerleaders are out in full force.
But I’m here to offer a different perspective: Don’t buy the dip.
Before I continue, let me please make it clear that nothing that I write in this Take is investment advice.
Why would I say such a thing? Is it that I hate bitcoin all of a sudden?
No.
I have other reasons for making such a statement.
The first is that I’m trying to keep you from becoming exit liquidity for people like this:
Don’t worry guys.
The retards are coming. pic.twitter.com/1YL8keRHYa
— Breadman (@BTCBreadMan) January 8, 2025
The second is that I like to buy bitcoin when it’s truly selling at a discount, not just when it appears to be selling at one.
Let me explain.
Right now, bitcoin is trading about 13% off of its all-time highs. While that may be a significant discount for an asset in the world of traditional finance, it’s hardly more than a daily fluctuation in the world of bitcoin.
In the four-year bitcoin cycles, bitcoin’s price tends to skyrocket during the years of and after its halving. And then the year that follows tends to be pretty terrible for bitcoin’s price. During that year, bitcoin’s price hits a low, which tends to be in the range of the prior cycle’s high.
That was a bit confusing, so let me give you an example.
In 2022, the last “pretty terrible” year, bitcoin’s price dropped to about $15,500, which was actually about $3,500 lower than bitcoin’s top from the previous cycle — $20,000.
If something comparable were to happen in 2026, we’d see bitcoin’s price at approximately $53k (23% below the previous cycle’s all-time high of $69k). Now, that would be a significant discount and a dip worth buying.
I don’t share this perspective to dissuade you from continuing with something like a dollar-cost averaging bitcoin investment strategy (one of the best strategies out there for the average retail investor). Instead, I share it because if a loved one came to me and asked me if now was a good time to buy bitcoin, I’d say “not really.”
I try to maximize the financial upside (in fiat terms) of investing in bitcoin as much as possible for those who ask me about investing in it — especially those who are new to it. And while I could maybe help someone trade in and out of a bitcoin position in the next year or so, I don’t like to do this, as I encourage people to buy and hold bitcoin for the long haul.
But, Frank, the U.S. might announce a Strategic Bitcoin Reserve and other nations may follow suit! And look at all the companies buying bitcoin for their treasuries!
Yes, these things are happening, and so are things like Bhutan selling bitcoin and so have things like Germany selling bitcoin and Tesla selling bitcoin.
Up until now, all bitcoin price cycles have been similar. So, while it looks like we have another year of bitcoin price upside in store for us, I think we drop far lower than this current price level when the tables turn.
And that’s when I’ll be proactively buying.
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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