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MicroStrategy has appointed former Binance.US CEO Brian Brooks, along with Jane Dietze and Gregg Winiarski, to its board of directors, expanding the board to nine members. This announcement follows MicroStrategy's inclusion in the Nasdaq-100 Index, effective December 23. Brooks, who previously served as acting Comptroller of the Currency, is noted for his significant connections in the banking and crypto sectors.
Ki Young Ju, founder of CryptoQuant, proposes that the U.S. could strategically accumulate 1 million Bitcoin (BTC) to offset a significant portion of its debt, potentially clearing 70% of domestically held liabilities by 2050. He emphasizes the need for Bitcoin to gain market acceptance and stability to be considered a viable reserve asset, akin to gold. Despite skepticism from some financial leaders, Ju believes that establishing a Strategic Bitcoin Reserve could enhance Bitcoin's credibility and role in global finance.
Michael Saylor, co-founder of MicroStrategy, has introduced a comprehensive framework to integrate Bitcoin and digital assets into the US economy, aiming to position the country as a leader in the digital economy. He argues that a clear digital asset policy could strengthen the US dollar, mitigate national debt, and empower businesses, while proposing a regulatory approach that fosters innovation and efficiency. Saylor envisions a significant expansion of digital markets, projecting that the US could generate trillions in wealth and establish the dollar as the global reserve digital currency.
Tether has invested $775 million in Rumble, a video-sharing platform that champions free speech and aims to compete with YouTube. CEO Paolo Ardonio emphasized the importance of independence and resilience, while Rumble's CEO Chris Pavlovski expressed excitement about their partnership and plans to challenge YouTube's dominance. Following the investment announcement, Rumble's share price surged by over 51%.
Tether has announced a $775 million investment in Rumble, a video streaming platform that promotes free speech and positions itself as a YouTube alternative. The deal includes an initial cash investment of $250 million and will grant Tether 103.3 million shares at $7.50 each, expected to close in early 2025. Rumble plans to create a Bitcoin reserve, aiming to purchase up to $20 million in Bitcoin, reflecting its belief in the cryptocurrency's potential as a hedge against inflation.
Quantum BioPharma has invested $1 million in Bitcoin and other cryptocurrencies as part of its strategy to diversify its treasury and facilitate cryptocurrency transactions. This move aligns with a growing trend among companies adopting digital assets as a hedge against inflation, despite causing a 10% drop in its Nasdaq shares. The investment places Quantum BioPharma among several firms integrating cryptocurrencies into their financial strategies, reflecting a broader shift in the corporate landscape.
Japanese investment firm Metaplanet has raised nearly $61 million to expand its Bitcoin holdings, issuing 5 billion yen in bonds despite shareholder skepticism. Following its declaration as a "Bitcoin treasury company," Metaplanet's stock has seen a significant decline, reflecting investor concerns over its strategy. Meanwhile, Bitcoin recently reached an all-time high of $108,135 before experiencing a drop amid hawkish comments from the Federal Reserve.
Quantum BioPharma has invested $1 million in Bitcoin and other cryptocurrencies to diversify its treasury, joining a trend among companies seeking inflation hedges. Following the announcement, its Nasdaq shares fell nearly 10%. The firm is now positioned to conduct transactions in cryptocurrencies, reflecting a broader corporate shift towards digital assets.
Fed Chair Jerome Powell's hawkish outlook for 2025 spooked investors, leading to significant drops in cryptocurrencies, with Bitcoin falling 8% to $92,000 and XRP plunging 13%. Although both have since rebounded, concerns about thinning liquidity over the holidays and a potential US government shutdown loom large. The aggressive tone from the Fed caught traders off guard, as they had anticipated a 0.25% rate cut, while Powell dismissed the idea of a US Bitcoin strategic reserve.
Cryptocurrency stocks, including MicroStrategy and Coinbase, have seen significant declines, dropping over 5% amid a broader market downturn linked to Bitcoin's price collapse to an intraday low of $92,245. Despite the bearish sentiment, Dogecoin founder Billy Markus shared a cryptic post reflecting humor about the situation, hinting at potential buying opportunities as market volumes for Bitcoin, Dogecoin, and Ethereum surged, indicating investor confidence in future rebounds.
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