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Cody Carbone will take over as CEO of the Digital Chamber, a crypto advocacy group, in April, succeeding founder Perianne Boring, who will become chair of the board. The organization is shifting to a proactive stance on cryptocurrency regulations, aligning with recent initiatives from the Trump administration.Carbone aims to prioritize stablecoin and market structure legislation, especially following the Senate Banking Committee's advancement of the bipartisan GENIUS Act, which seeks to establish a regulatory framework for stablecoins. The Digital Chamber will also work with lawmakers and communities to highlight blockchain's significance in national security and financial inclusion.
The 119th Congress prioritizes crypto legislation, focusing on stablecoins and market structure, with hopes for clarity on regulatory oversight. While bipartisan support exists, significant delays are expected, as political pressures and other legislative priorities may slow progress. Optimism for a national bitcoin reserve remains low, with experts doubting swift action.
Bitcoin's price has surged to $97,596, with technical indicators suggesting potential for further upside volatility following a recent all-time high above $108,000. Analysts predict ambitious price targets for 2025, with estimates ranging from $132,500 to as high as $800,000, driven by increasing interest in Bitcoin as a hedge against risks similar to gold.
Bitcoin's price surged to a record high of around $106,535 on December 16, driven by bullish sentiment following Donald Trump's election and MicroStrategy's Nasdaq 100 inclusion. Analysts project potential targets of $120,000 and even $155,500 based on technical patterns and Fibonacci levels, with long-term forecasts suggesting it could reach $800,000 by the end of 2025 due to its capped supply and favorable policies.
Donald Trump is expected to issue an executive order on his first day in office to designate Bitcoin as a US reserve asset, potentially purchasing a significant amount. The Bitcoin Act of 2024 aims for the Treasury and Federal Reserve to acquire 200,000 BTC annually, which could drive prices to as high as $800,000 by the end of 2025, according to experts. BlackRock suggests a 1-2% portfolio allocation to Bitcoin, which could further elevate its value significantly.
Perianne Boring, CEO of the Digital Chamber, predicts Bitcoin could soar to $800,000 by the end of next year, driven by potential policy changes from President-elect Donald Trump. The stock-to-flow model suggests that Bitcoin's fixed supply will lead to significant price increases as scarcity grows. Trump has pledged to support the crypto sector, including plans to fire SEC Chair Gary Gensler and hold seized Bitcoin as an investment rather than selling it.
John E. Deaton advocates for merging the SEC and CFTC to streamline crypto regulations, arguing that a unified regulator would reduce confusion and enhance competitiveness in global markets. This proposal is supported by figures like Elon Musk and Congressman John Rose, who aims to foster collaboration through a Joint Advisory Committee on Digital Assets. Deaton emphasizes the need for clarity in regulatory frameworks, particularly in light of conflicting classifications of assets like XRP.
Puerto Rico Blockchain Week celebrates its eighth year with four conferences and various side events, coinciding with Bitcoin's historic price surpassing $100,000. The event, attracting over 1,000 attendees, features keynote speakers like Dan Morehead and Brock Pierce, alongside discussions on decentralized AI, tokenized finance, and Web3 gaming. Highlights include the Tokenize conference, ETH San Juan, and the Limitless Crypto festival, all taking place across multiple venues in San Juan.
Perianne Boring
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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