Bitcoin News and Finance: What You Need to Know

Congressman Tom Emmer’s CBDC Anti-Surveillance State Act now has 75 cosponsors. “A central bank digital currency is government-controlled programmable money that, if not designed to emulate cash, could give the federal government the ability to surveil and restrict Americans’ transactions,” the lawmaker cautioned. CBDC Anti-Surveillance Bill Gains Support in Congress Seventy-five U.S. lawmakers now support the CBDC (central bank digital currency) Anti-Surveillance State Act. Congressman Tom Emmer (R-MN), who introduced the bill, shared on social media platform X Saturday: My bill to protect Americans’ right to financial privacy, the CBDC Anti-Surveillance State Act, is up to 75 cosponsors, and we will keep growing support. This bill limits the Fed’s ability to provide direct services to individuals and use a central bank digital currency. “Specifically, the bill prohibits the Federal Reserve and the Federal Open Market Committee from using any central bank digital currency to i...

Vaneck’s director of digital assets strategy has explained why people tend to underestimate the long-term impact of spot bitcoin exchange-traded funds (ETFs). He believes that upon the approval of a U.S. spot bitcoin ETF by the Securities and Exchange Commission (SEC), “bitcoin’s price trajectory could follow gold’s blueprint from 2004 and the years after, just much faster.” Market Impact of Spot Bitcoin ETFs Vaneck’s director of digital assets strategy, Gabor Gurbacs, shared his predictions regarding the long-term impact of U.S. spot bitcoin exchange-traded funds (ETFs) on social media platform X Sunday. Vaneck is among the asset management firms that have applied to launch a spot bitcoin ETF with the U.S. Securities and Exchange Commission (SEC). While noting that in his view, “people tend to overestimate the initial impact of U.S. bitcoin ETFs,” which he expects to be only a few hundred million dollars in mainly recycled funds, the Vaneck director said: Long term, people tend ...

Former U.S. President Donald Trump has warned that the U.S. could face a stock market crash worse than that of 1929 and a Great Depression if he doesn’t win the upcoming presidential election. He stressed that the U.S. economy is “terrible” and inflation over the past three years “has totally destroyed the buying power of the consumer.” Trump’s Market Crash and Depression Warnings Donald Trump, the 45th President of the United States, has sounded the alarm regarding the U.S. economy if he doesn’t win the presidential election this year. The former U.S. president posted on his social media platform Truth Social on Friday: “The economy is terrible & inflation, which by some accounts is more than 30% over the last three years, has totally destroyed the buying power of the consumer. The only thing that is keeping the economy ‘alive’ is the fumes of what we accomplished during the Trump administration.” Trump added: “The stock market is only high because people, & institutions,...

Throughout the past year, enthusiasm and speculation around bitcoin and other crypto assets have surged, particularly as the year drew to a conclusion. The Motley Fool’s forecasts for 2024 strike a pessimistic tone, anticipating a “buy the rumor, sell the news” scenario related to the spot bitcoin exchange-traded fund (ETF) and further projecting that the crypto market will not decouple from the traditional stock market. In contrast, bitcoin advocates maintain a more optimistic outlook for the upcoming year, estimating the value of bitcoin to range from $80,000 to $120,000. Dueling Visions Set Stage for 2024’s Crypto Saga On the final day of 2023, The Motley Fool, a well known provider of financial and investing advice, released four projections relating to the crypto economy. The writer comments that the “phenomenal 2023” BTC experienced may prove challenging, perhaps even unattainable, to replicate. Regarding the spot bitcoin ETF , the author remarks that it might result in a “...