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A private committee, led by Bitcoin specialist Yves Bennaïm, is pushing for a popular initiative in Switzerland to mandate the Swiss National Bank to invest in Bitcoin, amending the constitution to allow part of its reserves in the cryptocurrency. The initiative, which requires 100,000 signatures by mid-2026, follows previous recommendations for significant Bitcoin investments that could have yielded substantial returns. As global interest in national Bitcoin reserves grows, Switzerland has the chance to take a leading role in this emerging financial landscape.
Dogecoin (DOGE) has slipped 2% to $0.3819 amid bearish sentiment, with a weighted social sentiment of -0.60 indicating investor pessimism. Despite a 20% rise over the past week, interest has waned significantly since November, as reflected in Google Trends data. Looking ahead, the Dogecoin Foundation remains optimistic about long-term growth, focusing on software integration for payment mechanisms and potential regulatory support under a crypto-friendly government.
Morgan Stanley has exited the Net-Zero Banking Alliance, joining other major US banks like Citigroup and Bank of America in leaving the climate coalition amid criticism from Republican politicians regarding fossil fuel financing. Despite this withdrawal, the bank remains committed to reducing carbon emissions and supporting clients in their transition to net-zero operations. J.P. Morgan Chase is now the only major US bank still part of the alliance, which aims for net-zero emissions by 2050.
Ripple has capped the supply of its RLUSD stablecoin at 53.1 million to maintain value and prevent inflation, reflecting a commitment to regulatory compliance and market stability. CEO Brad Garlinghouse expressed optimism about the incoming Trump administration's potential to foster crypto innovation and job growth, highlighting recent US deals and proactive efforts from key figures in shaping economic policy. This cautious approach aims to position RLUSD as a reliable asset while exploring new markets and partnerships.
Investor Luke Gromen advises President-elect Donald Trump to delay announcing a Bitcoin reserve, suggesting that doing so immediately could lead to market manipulation as investors rush to front-run the government. Instead, Gromen recommends accumulating Bitcoin quietly while maintaining a positive narrative, ultimately revealing the reserve after establishing a position to maximize benefits for the U.S. government. Trump's recent pro-crypto stance includes plans to hold seized Bitcoin as an investment and potentially use crypto to address national debt.
China's main stock exchanges have urged large mutual funds to limit stock selling as markets face pressure from potential U.S. tariffs under President Trump. Funds were advised to ensure daily purchases exceed sales, reflecting ongoing efforts to stabilize investor sentiment amid economic challenges. The CSI 300 Index fell 2.9% on the first trading day of 2025, marking its worst start since 2016.
U.S. stock markets closed sharply higher on January 6, 2025, marking Wall Street's first positive close of the year. The Dow Jones gained 0.8%, the Nasdaq rose 1.8%, and the S&P 500 increased by 1.3%, driven by strong performances in technology and consumer sectors. Market participants are closely watching the economic policies of the newly-elected Trump administration and the Federal Reserve's interest rate decisions, with uncertainty surrounding potential rate cuts in 2025.
Switzerland is considering a proposal to add Bitcoin to its national reserves alongside gold, backed by ten crypto advocates. The initiative, requiring 100,000 signatures within 18 months, aims to amend the Swiss Constitution to allow the Swiss National Bank to hold Bitcoin. Despite the push, concerns over Bitcoin's volatility and energy use persist among financial authorities.
XRP has surged 375% to $2.45 since November 2024, driven by Bitcoin's declining dominance, which has dropped to 55.4%. Analysts predict XRP could reach $5 by 2025, with some forecasting a rise to $50, fueled by institutional adoption and potential regulatory clarity following upcoming political changes. The Ripple community anticipates a resolution to its legal battle with the SEC, which could further enhance XRP's market position.
Dogecoin surged 21% in a week, reaching $0.38, driven by whale purchases exceeding 1 billion DOGE and increased open interest. Analysts predict it could hit $1 by 2025, supported by historical January performance and new initiatives, including a government agency led by Elon Musk.
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Swiss initiative seeks to mandate National Bank investment in Bitcoin
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swiss government explores adding bitcoin to national reserves alongside gold
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