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Switzerland's National Bank (SNB) faces pressure to invest in Bitcoin as part of a popular initiative advocating for constitutional changes to enhance financial sovereignty. Despite past rejections, the growing influence of Bitcoin advocates, including billionaires, suggests a potential shift in the SNB's stance amid rising global interest in cryptocurrencies. The canton of Zug, dubbed "Crypto Valley," continues to thrive as a hub for digital currency investment, attracting both private banks and wealthy investors.
The St. Karlshof manor in Zug, once owned by Bitcoin entrepreneur Niklas Nikolajsen, has been sold after months on the market. The property, renowned for its historical significance and extensive renovations costing 60 million francs, was previously highlighted by Nikolajsen as a potential rental space to give back to the local community.
Bitcoin Suisse forecasts that Bitcoin will exceed $180,000-$200,000 by 2025, driven by rising institutional acceptance and its role as a store of value. Despite recent volatility, with Bitcoin recently surpassing $100,000, the altcoin market is expected to grow fivefold in early 2025, while Ethereum staking ETFs may outperform Bitcoin ETFs.
Ethereum's price is currently around $3,900, facing a critical resistance near the $4,000 mark amid significant inflows into Ethereum ETFs, which recorded $273.7 million in net inflows recently. With a change in SEC leadership, expectations rise for potential staking within these ETFs, which could further boost ETH's value. A sustained move above the upper boundary of a symmetry triangle pattern is essential for ETH to break through the $4,000 barrier and aim for its all-time high of $4,868.
Bitcoin Suisse forecasts a bullish 2025, predicting Bitcoin will surpass $180,000 by mid-year, driven by favorable regulatory changes anticipated under a potential Trump administration. The firm also expects 2025 to be significant for Ethereum ETFs, with positive market flows following the US elections.
Zug's crypto scene faces challenges with the bankruptcy of the Lykke exchange, raising concerns among customers. Despite this, the region remains a hub for blockchain innovation, allowing tax payments in cryptocurrencies and expanding crypto services through Zuger Kantonalbank. The local infrastructure supports over 1,000 crypto companies, while luxury real estate reflects the wealth of successful entrepreneurs.
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