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Senator Lummis Calls for US Government to Sell Its Gold to Buy Bitcoin

Abdulkarim Abdulwahab
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Senator Lummis Calls for US Government to Sell Its Gold to Buy Bitcoin

Senator Cynthia Lummis has offered a bold plan for the U.S. government to strengthen its financial position by converting a portion of its gold stockpiles into Bitcoin. 

In a live interview on CNBC, Lummis outlined her vision for a strategic Bitcoin reserve to reduce national debt and fortify the U.S. dollar’s status as the world’s reserve currency.

Lummis suggested that the U.S. acquire and hold Bitcoin for the long term—at least 20 years. She pointed out that Bitcoin’s significant appreciation since its inception could help strengthen the dollar and reduce the national debt.

“Americans are still grappling with inflation and high prices. They want to see the national debt reduced,” Lummis said. “Bitcoin is an asset that is immutable and easily stored in federal vaults, making it an ideal tool for this purpose.”

When asked about the cost of implementing such a plan, particularly at a time when the government is looking to cut spending, Lummis emphasized that no new taxpayer dollars would be required. “We wouldn’t need to spend any new dollars,” she said.

Government Can Sell Gold to Buy Bitcoin

Lummis explained that the U.S. government could avoid spending new taxpayer money by selling off its gold reserves, specifically the gold certificates currently held by Federal Reserve Banks. She noted that these certificates are valued at prices from the 1970s and could be sold at their current market value to fund Bitcoin purchases.

“We have gold reserves at our 12 Federal Reserve Banks, including gold certificates. We could sell them and convert the proceeds into Bitcoin,” the senator said.

In addition, Lummis pointed out that the U.S. government already holds over 200,000 Bitcoin through asset forfeiture funds. This further positions the nation to establish the reserve without any new expenditure.

When asked if she owns Bitcoin herself, Lummis disclosed that she holds five BTC, which are managed within a blind trust. 

Interestingly, Lummis’ proposal to sell gold for Bitcoin acquisition has garnered support from prominent figures in the cryptocurrency industry, including Michael Saylor, the chairman of MicroStrategy. “Sell the past, buy the future,” Saylor remarked, emphasizing Bitcoin as a forward-looking asset.

Ethereum Price Surge: Can Bulls Push Toward $4,000 After Whale Sell-Off?

Albert Brown
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Ethereum Price Surge: Can Bulls Push Toward $4,000 After Whale Sell-Off?

With an overnight surge and a bullish engulfing candle, Ethereum bounces back after a minor consolidation. Will this reversal give a breakout run to $4,000?

As Bitcoin pushes to a new all-time high of $99,500, Ethereum is steadily gaining steam. Today, Ethereum’s market cap surpassed $400 billion, marking a significant milestone.

The growing bullish momentum suggests Ethereum could be gearing up for a major rally, possibly targeting $4,000. Will this recovery run lead to a new 52-week high as the broader market recovers? Let’s find out. 

Ethereum Price Analysis

On the daily chart, Ethereum has shown a strong resurgence in buying pressure. This led to a massive bullish engulfing candle, which surged 9.36% last night. 

Ethereum Price Chart
Ethereum Price Chart

At the time of writing, Ethereum is trading at $3,383, reflecting a modest intraday gain of 0.71%. The bulls have regained control above the $3,000 level, pushing the price higher after a brief consolidation phase.

The bullish rally has completed a U-shaped reversal and is heading towards the 78.60% Fibonacci level, priced at $3,553. This level acts as the next immediate resistance. 

As the buying pressure grows, the 50-day EMA has crossed above the 100-day and 200-day EMAs, signaling a bullish crossover. Furthermore, the increasing proximity of the 100 and 200 EMAs teases a bullish crossover. 

As the average lines are preparing to regain bullish alignment, they give a buy signal for Ethereum. Furthermore, despite recent fluctuations, the MACD and signal line have avoided a bearish crossover, showing signs of bullish momentum as the market remains in recovery.

Dormant Whale Resurfaces to Sell Ethereum

While the price action has been bullish, the behavior of Ethereum’s largest holders may cast a shadow on market sentiment. A notable whale, dormant for eight years, has resurfaced to offload a significant portion of their Ethereum holdings.

This whale accumulated 398,889 ETH between January and March 2018, with an average purchase price near $6. As of now, the whale has sold 73,356 ETH, valued at $224.42 million, holding back 325,533 ETH worth approximately $1.1 billion.

Ethereum Breakout Rally to Target $4,000

According to Fibonacci analysis, Ethereum’s immediate target is the $3,553 resistance level. If the bulls can break above this level, the next logical target will be the psychological $4,000 mark. Hence, the ongoing uptrend shows increased chances of creating a 52-week high above $4,093. 

However, if the rally stalls at $3,553, the price could see a retracement back to the $3,000 level, testing the support zone.

Ripple, Circle, Kraken Indicate Interest as Trump Plans to Establish Crypto Advisory Council

Elendu Benedict
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Ripple, Circle, Kraken Indicate Interest as Trump Plans to Establish Crypto Advisory Council

Notable names in the crypto space, including Ripple, have indicated interest as President-elect Donald Trump plans to establish his promised crypto advisory council.

Per a Reuters report, key industry leaders are scrambling for a seat in the White House advisory council for cryptocurrencies. The exposition, citing industry executives, mentioned respected players, including Ripple, Kraken, and Circle.

Leaders Seek a Piece of the Cake

The Thursday report indicated that Trump’s promised cryptocurrency advisory council is gaining momentum. Following his early November re-election, Trump has not hesitated to fill key roles in his imminent administration.

The President-elect promised to support the crypto community in various ways, including creating an advisory team on digital assets. The Reuters report noted that Trump seems keen on fulfilling this pledge.

Meanwhile, Circle’s CEO, Jeremy Allaire, has indicated his interest in joining the elite White House council. The report noted that the CEO revealed to the New York Times that he would want to be part of the team.

Furthermore, unnamed executives from Kraken, Ripple, venture capital firm Paradigm, and a16z, Andreessen Horowitz’s crypto arm, are also vying for a seat in the council. Notably, the team would either be part of the White House National Economic Council or operate independently.

It bears mentioning that Trump already met with Coinbase CEO Brian Armstrong and Ripple’s CEO Brad Garlinghouse. The details of the meeting with Armstrong remain unidentified, but the general consensus is that it was for a slot in the advisory council. However, this is still speculative and unconfirmed.

Team to Drive Bitcoin Treasury Establishment

The unnamed executives told Reuters that the advisory council will play an important role in Trump’s crypto policies. This includes admonishing the President on digital asset-related decisions and working with Congress to establish clear regulations for the industry.

Ultimately, the council would drive the creation of a Bitcoin treasury reserve. Trump promised to create one, and Senator Cynthia Lummis has already introduced the bill.

Analysts have tipped the Bitcoin stockpile to create FOMO among other countries, facilitating global demand for the premier asset. Galaxy Digital’s CEO Mike Novogratz stated that the concept is already drawing nations to the sector, citing growing Bitcoin acquisitions in the Middle East.

Meanwhile, positive sentiments from Trump’s imminent administration and a growing demand from the US spot exchange-traded funds (ETFs) have spurred Bitcoin to a new all-time high of above $99,000.

Bitcoin Holds Strong, Tops $98K Despite MicroStrategy Stock Collapsing 16%

Sam Wisdom Raphael
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Bitcoin Holds Strong, Tops $98K Despite MicroStrategy Stock Collapsing 16%

Bitcoin has sustained its upward push despite MicroStrategy, one of its largest institutional holders, collapsing by a concerning margin.

Bitcoin has continued its impressive rise, surpassing $98,000 and edging closer to the much-anticipated $100,000 milestone. This performance comes despite a sharp 16% drop in the stock price of MicroStrategy, a business intelligence firm known for its extensive Bitcoin holdings.  

MicroStrategy’s stock (MSTR) has taken center stage in recent times, surging and then collapsing within days. The company, often considered a proxy for Bitcoin due to its massive cryptocurrency investments, saw its stock rise to $543 from $370 over three days. However, it abruptly plummeted to $390.

Activity Behind the MicroStrategy Slump

The recent market moves were closely linked to unusual trading activity in MSTR options markets. According to financial platform Unusual Whales, the company saw record-high net premiums for put options in the last 30 days. 

For the uninitiated, put options are essentially financial contracts that allow traders to sell a stock at a particular price. They are typically used when the traders anticipate a decline in the stock’s value.  

Traders targeted strike prices of $400 and $350 for puts while selling calls at $500. This combination indicated bearish sentiment, suggesting that investors expected the MSTR stock price to drop further after its rapid rally over the past three days.  

MicroStrategy Options Market Unusual Whales
MicroStrategy Options Market | Unusual Whales

As MicroStrategy’s stock surged yesterday, prominent trader DonAlt noted that the situation resembled speculative trading similar to past events in the crypto market. He pointed out that high premiums being paid in options trading seemed excessive and unsustainable.  

As the stock reached $471 earlier in the day, DonAlt described the scenario as traders chasing short-term gains while repeatedly facing losses. Hours later, his predictions materialized, as the stock nosedived by over 30%, settling at $390.

Interestingly, the price collapse occurred hours after leading research firm Citron Research confirmed it had opened a short position on MicroStrategy. The firm acknowledged that it remained bullish on Bitcoin but noted that the MSTR stock has become overheated.

Bitcoin Remains Unfazed  

Despite the turmoil with MicroStrategy, Bitcoin’s price showed remarkable resilience. Historically, Bitcoin’s price movements and MicroStrategy’s stock price direction have correlated due to the company’s substantial Bitcoin holdings. 

However, in this instance, Bitcoin maintained its momentum, recording a 12.48% gain over the past week. Interestingly, amid the sharp drop in MSTR stock price, MicroStrategy Chairman Michael Saylor confirmed yesterday that the firm had raised $3 billion to buy more BTC.

Notably, MicroStrategy stock remains one of the best performers in the market this year. The latest collapse has not impacted its monthly performance, with the stock up by an impressive 62% in November, and a more impressive 473% this year.

Deaton Predicts $100B XRP Market Cap, Says ‘Times Are Changing’

Abdulkarim Abdulwahab
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Deaton Predicts $100B XRP Market Cap, Says ‘Times Are Changing’

Renowned pro-crypto attorney John Deaton has expressed confidence that XRP is on track to reach the ambitious $100 billion market cap milestone.

Deaton shared this view in a tweet earlier today, amidst XRP’s impressive price performance. Notably, XRP surged by 30% today and is currently trading at $1.43.

In light of this impressive price action, industry figures like Deaton have marveled at XRP’s growth. He expressed that XRP could soon achieve a $100 billion market cap at its current pace. “Times are changing,” he said. Other community figures, including attorney Bill Morgan, have echoed similar optimism.

XRP Price with $100B Market Cap

At its current price, XRP has a market cap of approximately $80 billion, with a fully diluted market cap of $140 billion. Notably, as of November 10, XRP had a valuation of $33.5 billion when trading at $0.5903, meaning the asset has nearly tripled in value in less than two weeks.

To reach a $100 billion market cap, XRP only needs to add another $20 billion, which now seems within reach given the asset’s strong bullish momentum.

Remarkably, a $100 billion valuation would correspond to an XRP price of $1.756, which is still below its 2021 peak. When XRP reached $1.96 on April 14, 2021, it had a market cap of $83.5 billion. Despite the higher price, the market cap was below $100 billion at the time due to a smaller circulating supply of XRP.

Meanwhile, it is worth mentioning that XRP has reached a $100 billion valuation at one point in its history, specifically between January 2 and 8, 2018. During this period, XRP traded at all-time highs in the $3 range. At the time, XRP briefly surpassed Ethereum in market valuation.

XRP Among Top Performers

Notably, with the latest market conditions, among the top crypto assets, none have experienced a spike similar to XRP’s dramatic rise in the past 24 hours. XRP staged this rally while Bitcoin broke through the $99,300 mark, just shy of the widely anticipated $100K level.

The $1.43 price point is one of the highest XRP has reached in three years, last seen during the peak of the 2021 bull cycle. This climb comes after a five-day consolidation period following the $1.26 level XRP hit last weekend. XRP has now resumed its bull run and is on track to surpass its 2021 cycle peak of $1.96.

XRP Surges Past $1.40 for the First Time Since 2021 as Gensler Confirms His Resignation

Lele Jima
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XRP Surges Past $1.40 for the First Time Since 2021 as Gensler Confirms His Resignation

XRP experienced a massive price explosion, soaring past $1.40 shortly after U.S. SEC Chair Gary Gensler confirmed his resignation.  

In a startling development, Gensler announced he will be stepping down from his role as U.S. SEC Chair on January 20, 2025. This coincides with the date Donald Trump will assume office as the 47th U.S. president. 

With Trump planning to fire Gensler on the first day of his inauguration, Gensler announced plans to leave the SEC before this could occur. His announcement comes a week after he hinted at his departure plans in a statement characterized as a farewell disclosure. 

In his latest farewell message, the SEC boss praised the commission’s staff for their commitment to maintaining robust markets, protecting investors, and facilitating capital formation. 

 

XRP Enthusiasts Celebrate Gensler’s Resignation 

Expectedly, Gensler’s resignation triggered a bullish reaction within the broader crypto market, particularly XRP. The SEC boss is known for strict enforcement actions against crypto entities, resulting in multiple lawsuits filed. 

Although he did not file the Ripple case, he spearheaded the lawsuit for nearly four years. Despite a federal court issuing a final judgment in the lawsuit, the SEC, led by Gensler, appealed the ruling, potentially extending the resolution. 

With Gensler’s upcoming exit, most XRP community members anticipate favorable crypto regulation under a new SEC leadership that could potentially end the Ripple lawsuit. 

XRP Rallies Past $1.4 

This speculation led to a massive spike in XRP’s price, which surged past the $1.4 mark, representing a daily increase of 27% and a 30-day growth of 162%. 

Specifically, XRP surged to an intraday high of $1.43 hours after Gensler’s resignation news. The last time XRP traded above $1.40 was during the 2021 bull market. Ever since, XRP has struggled to attain this milestone due to the Ripple lawsuit. Now, several investors expect the asset to surge to greater heights.

Other Positive Metrics 

Amid the recent surge, XRP witnessed other positive developments. In particular, open interest increased 31.72% to a record $2.42 billion, according to data from Coinglass. This figure was around $1.56 billion a few minutes after XRP began its latest rally.

According to aixbt, the rise in open interest coincides with a shift in XRP holdings. Large wallets holding more than 1 million XRP accumulated 453.3 million coins in one week, while those with less than 1 million XRP sold 75.7 million coins in the same timeframe. 

In addition, aixbt claimed that XRP saw a massive spike in trading volume on South Korean exchanges, outperforming Bitcoin. For context, XRP’s trading volume on South Korea’s largest crypto exchange, Upbit, currently stands at $2.29 billion compared to the exchange’s Bitcoin volume of $798.82 million.  

Furthermore, aixbt also stated that XRP’s market cap increased by $14 billion following Gensler’s resignation news. XRP’s market cap currently stands at $79.96 billion, with a coin trading at $1.41. 

Raoul Pal Says Dogecoin Next to Surge in the ‘Great Banana Rotation’

Sam Wisdom Raphael
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Raoul Pal Says Dogecoin Next to Surge in the ‘Great Banana Rotation’

Market veteran Raoul Pal, CEO of Real Vision, has suggested that meme coin Dogecoin could be on the verge of a major price rally. 

In what he calls the “Great Banana Rotation,” Pal predicted a potential rally in Dogecoin and other tokens such as Sui (SUI). The veteran analyst had previously introduced what he called the “Banana Zone” in earlier commentaries.

 

Raoul Pal’s “Banana Zone”

Pal introduced the “Banana Zone” months back, stressing that it is a market phase when prices rise consistently. He advised patience during this period and advocated holding investments in top assets like Bitcoin, Ethereum, and Solana. These tokens help reduce risk during market volatility.  

However, for those with higher risk tolerance, Pal suggested allocating a smaller portion to emerging tokens like SUI or meme coins such as DOGE. However, he stressed maintaining 90% of holdings in established cryptocurrencies to preserve long-term portfolio value.  

With several assets already entering this Banana Zone, Pal’s latest remarks suggest DOGE could be the next. This prediction comes on the back of a series of pop culture moments around bananas, with the most prominent involving SpaceX CEO Elon Musk and crypto entrepreneur Justin Sun. 

Recent Pop Culture References to Bananas

Musk’s recent symbolic use of a banana during a SpaceX test flight attracted global attention. Acting as a zero-gravity indicator, the fruit became a quirky yet highly publicized element of the space mission. 

Simultaneously, Sun recently took center stage for purchasing Maurizio Cattelan’s iconic banana artwork for $6.2 million and vowed to eat the fruit as part of a live artistic expression. 

The TRON founder also teased plans to tape a banana to a SpaceX rocket and send it to Mars. Notably, these events have triggered enthusiasm toward bananas in crypto markets, with meme tokens featuring “banana” in their names seeing rapid surges.

Dogecoin to Slip Into the Banana Zone

Amid the pop culture emergence of bananas, Pal believes the next asset to slip into the Banana Zone of rising prices is Dogecoin. The commentary follows a previous Dogecoin breakout that saw the meme coin breach a three-year peak above $0.44 on Nov. 12.

Pal’s latest disclosure builds on previous bullish remarks he has made about DOGE. Earlier this month, he shared a long-term analysis of Dogecoin’s price chart. The chart shows Dogecoin breaking out of several descending trendlines. 

Each breakout is followed by massive price increases, as Pal insisted that the current market phase presents a “last chance to add.” The chart reveals a series of descending wedge patterns. Historically, Dogecoin has seen massive price action following these formations. 

A breakout is visible in the most recent segment of the chart, where the price has climbed above its downward trendline. Notably, several analysts also believe DOGE is poised to stage another rally, with one recently identifying a rounded bottom structure.

In addition, Dogecoin whales have been accumulating more tokens, amassing 550 million DOGE in the latest buying spree. At press time, Dogecoin trades for $0.3969, up 1.91% over the past 24 hours, as it looks to reclaim the $0.40 price territory.

Wall Street Analyst Says 4-Year Cycle Trend Could Drive XRP to $33

Abdulkarim Abdulwahab
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0
Wall Street Analyst Says 4-Year Cycle Trend Could Drive XRP to $33

A Wall Street analyst has suggested that XRP could soar to as high as $33 based on historical price patterns and a 4-year cycle that has previously driven massive gains.

XRP has recently seen its price double, surpassing the $1 mark for the first time in years. This has triggered optimism among investors that the digital asset is poised for continued growth.

Linda Jones, a renowned Wall Street analyst, predicted that XRP could surge to as high as $33 by 2025. She cited a historical 4-year price cycle that has previously fueled major gains for XRP. According to Jones, technical charts show a strong possibility of XRP following the same pattern.

XRP 4-Year Cycle Trend

Notably, XRP’s first historic run occurred in December 2013, when it hit a cycle peak above $0.0422—an impressive improvement from trading with two zeros earlier. A bearish cycle followed, with XRP eventually reaching an all-time low in 2014.

Four years later, in 2017, another major price run took place. This time, XRP broke the $1 mark and peaked at $3.84. Likewise, a downtrend followed, bringing XRP close to trading with zeros again. Yet, another substantial price run occurred four years later, in 2021, with the asset peaking at $1.96. 

XRP 1M Chart Crypto Bull 2
XRP historical chart by Crypto Bull

With this repeated four-year cycle of parabolic runs, analysts are projecting a promising 2025 for XRP. Market commentators like Jones believe XRP could reach a price range of $33 to $40 next year if this trend continues. However, she noted that the market may experience pullbacks before reaching these highs.

Other Factors Contributing to a Promising Outlook for XRP

Several key factors contribute to Jones’s bullish outlook on XRP. Notably, the potential end of the long-running legal battle between Ripple and the U.S. SEC is a major catalyst. 

Speculation has been mounting that SEC Chairman Gary Gensler may resign after Thanksgiving, which could help bring the Ripple lawsuit to a positive conclusion and clear the way for XRP’s price to move higher.

In addition, Jones points to the growing institutional interest in XRP, fueled by the filing of XRP-based exchange-traded funds (ETFs) and Ripple’s new stablecoin, RLUSD. These developments could attract massive investment and drive increased adoption of XRP’s underlying technology.

Furthermore, Jones also cited the possibility of favorable U.S. crypto regulations, such as the elimination of income taxes on crypto gains for U.S.-based companies. Stay updated with the XRP breaking news for more insights into regulatory developments.

BitMart Doubles Down On Its Commitment To EU Users

Albert Brown
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BitMart Doubles Down On Its Commitment To EU Users

When choosing a crypto exchange, users seek reliability and user-centric solutions. BitMart, a globally renowned digital asset trading platform founded in 2018, has quickly emerged as a trusted name, boasting millions of users worldwide and accolades like Investopedia’s “Best Crypto Exchange for Altcoins.” With its customer-first mindset, BitMart is making strides in providing accessible, efficient, and innovative solutions for global crypto traders.

In this exclusive interview, we speak with Ksenia Drobyshevskaya, BitMart’s EU Growth Expert, about the exchange’s unique offerings, its commitment to European users, and the vision driving its future developments.

Can you share a bit about your role at BitMart and what it entails?

Ksenia: Certainly! I’m Ksenia, and I’m focused on building and enhancing the BitMart experience for our European user community. My role involves creating tailored campaigns that resonate with our European traders, ensuring their needs are met and their engagement with the platform is seamless. I’m passionate about fostering a user-friendly environment where crypto enthusiasts feel empowered and supported in their trading journey.

What services does BitMart provide for its users?

Ksenia: BitMart offers a comprehensive suite of services designed to cater to various user needs. These include:

  • Buy/Sell Crypto
  • Spot Trading
  • Margin/Futures Trading
  • NFT Marketplace
  • Inscriptions Market
  • BitMart Earn for savings and staking
  • Labs and Incubation Platform
  • Decentralized Trading

With over 1,200 tokens listed and 1,400+ trading pairs, our platform continues to innovate and expand, ensuring we offer unparalleled value to the global crypto community.

What differentiates BitMart from other exchanges?

Ksenia: BitMart stands out with its innovative offerings, including:

  1. BitMart Futures
  • Features like Cross Margin and Independent Margin Trading.
  • Over 100 USDT-margined Perpetual Swaps.
  • Advanced order types such as Limit and Market Orders.
  1. Inscriptions Market
  • Offers an offline order book for enhanced liquidity.
  • Stablecoin pairs to emphasize Inscription value.
  • Nearly 40 Inscription tokens with competitive fees.
  1. BitMart Earn
  • Flexible savings, staking, and dual investment options.
  • High APY bonuses for a limited time.
  • Diversified investment opportunities for both novice and seasoned investors.

These capabilities ensure our users can leverage cutting-edge tools to optimize their crypto trading experience.

How does BitMart maintain a strong connection with its European users?

Ksenia: BitMart prioritizes localization for our European audience. We host weekly AMA sessions in multiple languages, allowing users to interact directly with our team and gain valuable insights. Additionally, we actively manage vibrant social media communities tailored for European traders, ensuring they remain informed and engaged. Our goal is to provide personalized support and create a thriving environment for our users in the region.

What measures does BitMart take to ensure a user-friendly platform?

Ksenia: User experience is a cornerstone of BitMart’s philosophy. Our platform is designed with an intuitive interface that caters to both beginners and experienced traders. Features include:

  • Comprehensive tutorials for users at all levels.
  • Advanced trading tools are accessible via mobile apps and APIs.
  • A wealth of educational resources like articles, webinars, and 24/7 customer support are available across various channels.

We aim to simplify crypto trading while providing the resources users need to succeed.

BitMart introduced its Private Client service in 2023. Could you tell us more about it and its value for users?

Ksenia: BitMart Private Client is a premium service we launched to provide high-net-worth individuals and professionals with exclusive access to advanced tools, personalized support, and market insights. It’s part of our effort to promote financial inclusion by offering tailored solutions that cater to specific trading needs. This service ensures that users can take advantage of top-tier products and insights to make informed trading decisions, all while enjoying a seamless and secure experience.

What role does BitMart Launchpad play in supporting blockchain innovation?

Ksenia: BitMart Launchpad is a significant part of our ecosystem. It combines features of ordinary listing and IEO, providing blockchain projects with streamlined access to our platform. For our users, Launchpad offers a unique opportunity to invest in promising projects under favorable terms. It’s easily accessible via our mobile app or website, empowering traders to participate in the next big thing in crypto innovation.

Security is a top concern for crypto traders. How does BitMart address this?

Ksenia: Security is at the heart of BitMart’s operations. We use two-factor authentication (2FA) to add an extra layer of protection for user accounts. Additionally, our Know Your Customer (KYC) process ensures a secure trading environment. By combining robust security protocols with a user-first approach, we maintain trust and reliability across our platform.

What is BitMart’s ultimate vision for the crypto community?

Ksenia: At BitMart, we envision a future where cryptocurrency is accessible to everyone. We believe decentralized digital currencies will fundamentally transform the global economy by driving innovation, efficiency, and financial equality. Our mission is to empower traders and investors with tools that enable them to thrive in this evolving space.

Are there any exciting upcoming initiatives you can share?

Ksenia: Absolutely! Our much-anticipated Black Friday campaign is on the horizon. It will feature interactive activities and exclusive rewards, alongside that, we’re excited to highlight our new exclusive high APY Product tailored for Private Clients. It’s perfect for those looking to lock in high APYs—up to 14%—with flexible terms. Reach out to us on Telegram if you have any questions!

For more information about BitMart and its offerings, visit their website. You can also follow them on X (Twitter) and join their Telegram community for the latest updates and promotions.

Mike Novogratz Says Bitcoin Will Hit $100,000 Today or Tomorrow

Mark Brennan
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Mike Novogratz Says Bitcoin Will Hit $100,000 Today or Tomorrow

Galaxy Digital CEO Michael Novogratz has speculated that Bitcoin will hit six figures today or tomorrow as the asset inches closer to the $100,000 price mark.

Bitcoin broke above $98,000 on Thursday, an unpredicted high for the premier asset. Although it has retracted slightly to trade at $97,608 at the time of writing, the largest cryptocurrency by market cap is up 3% in the past 24 hours.

Meanwhile, speculations of a $100,000 price mark have intensified, with notable market commentators placing timelines for its fruition. Amidst the frenzy, Galaxy Digital CEO Michael Novogratz has thrown in his thoughts on when Bitcoin will reach the impressive milestone.

Bitcoin to $100,000 Today or Tomorrow

In an appearance at the Squawk Box on CNBC, Novogratz asserts that Bitcoin will hit six figures today or tomorrow. He spotlighted the impending price milestone in the wake of the asset’s surge to $98,000.

He noted that the $100,000 milestone was inevitable, citing Donald Trump’s influence in the renewed bullish upsurge. The CEO stated that Trump has demonstrated his belief in cryptocurrency, even in selecting his cabinet members.

Notably, the US President-elect has tapped pro-Bitcoin Elon Musk, Robert F. Kennedy, and Howard Lutnick to occupy key positions in his administration. Trump has also promised a friendlier regulatory environment for cryptocurrencies, fueling investor optimism.

Meanwhile, Novogratz stated that Trump’s influence has fueled a global buying spree for Bitcoin, a catalyst for the recent run. He also cited incessant demands from the Middle East and the public equity market through MicroStrategy.

Sub-$80,000 Days Over for Bitcoin

Furthermore, Novogratz emphasized his confidence that Bitcoin would not test $80,000 again. The American investor stated that although he expects corrections along the line, he does not see the pioneering crypto asset trading that low again.

Meanwhile, Bitcoin trades just 2.5% away from the $100,000 price level, sparking further investor confidence of an imminent price breach. Furthermore, other key crypto players like Michael Saylor also anticipate the six-figure price, with JAN3 CEO Samson Mow predicting it will happen this week.

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