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XRP Reaching $10,000, Here is The Detailed Breakdown

Abdulkarim Abdulwahab
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XRP Reaching $10,000, Here is The Detailed Breakdown

Widely followed crypto commentator Joshua Jake recently commented on the prospect of XRP reaching $10,000 per coin.

Jake’s commentary responded to a mathematical breakdown by another analyst who attempted to explain why a $10,000 per coin XRP could be a reality someday.

Notably, the $10,000 price prediction proponent cited potential ETF approvals for XRP as one of the catalysts that could trigger a price surge. The analysis suggested that XRP could experience a supercycle due to ETFs, institutional adoption, traditional finance (TradFi), and crypto reserves. In this case, the analyst expected XRP to rally up to $100 in the summer.

However, as the analysis progressed, Jake added his commentary. He dismisses parts of the argument he considers misconceptions, especially since the video has gone viral. First, Jake stressed that XRP ETFs cannot propel XRP to even $100.

ETFs, TradFi, Cannot Send XRP to $100

He noted that if this were possible, the success of Bitcoin ETFs should serve as the benchmark. Specifically, he argued that ETFs should have pushed Bitcoin’s price to $1 million per coin, but that remains far from reality.

Furthermore, Jake clarified that ETFs primarily open up institutional involvement, leading to increased market-making and higher resistance levels. Even so, pushing XRP to $30 or even $20 would require an extraordinary amount of value.

Jake also dismissed the idea that a supercycle for XRP could be triggered by TradFi adoption and crypto reserves.

He countered that President Donald Trump signed an order to establish a crypto reserve, but XRP was not even mentioned. While Trump had previously referenced XRP, the final order did not include XRP or any other altcoins aside from Bitcoin.

Meanwhile, Jake stressed that even if XRP is later included in the US crypto reserve, it won’t create the supply shock that proponents of ambitious XRP projections discuss. He added that a realistic supercycle for XRP could only bring it to $15.

Market Cap Does Matter

Jake stressed that while proponents of ambitious XRP predictions often claim market cap doesn’t matter, he argued that it does. Notably, at $100 per coin, XRP’s market cap would be $10 trillion. At $10,000 per coin, the market cap would be $1 quadrillion, a value that exceeds the total wealth of the world.

As a result, Jake urged enthusiasts to be cautiously optimistic about XRP and not to rely on unrealistic scenarios.

Why Banks Won’t Pump XRP to $10,000

The XRP enthusiast made the claim that XRP could skyrocket to $10,000 in a hypothetical scenario where “absolutely every single bank in every single country” uses XRP, and the token is burned from transactions.

Jake disagreed with this, pointing out that the market is flooded with competition, and XRP will be just one part of the ecosystem.

He also noted that token burns are insignificant as XRP still has approximately 99.98 billion tokens in circulation despite all the burns over the past decade.

Furthermore, Jake pointed out that Ripple holds around 40% of XRP’s supply. He emphasized that banks won’t pump the price to $10,000 because it would give Ripple too much control, potentially making it a multi-trillion-dollar company.

“No bank would want to put themselves in that position,” he said. Jake argued that these institutions would instead launch their own blockchain solutions.

XRP Sees More Development than Bitcoin and Ethereum?

Furthermore, the $10,000 price prediction proponent claimed that Bitcoin and Ethereum are enjoying lofty prices while lacking major developments. However, Jake countered by highlighting Ethereum’s crucial development.

He pointed out that everything is being tokenized on Ethereum, citing its total value locked (TVL) of $50.75 billion, compared to others that rank far below. Additionally, he mentioned that banks are using Ethereum as the foundational layer for their crypto projects.

Meanwhile, the XRP analyst also claimed that Bitcoin is a joke without any use case. Jake countered that Bitcoin is the greatest digital store of value. He also cited its use in the carbon credit market and its adoption by companies like ExxonMobil to reduce energy emissions. 

Bitcoin has massive adoption and support from organizations like the IMF and the U.S. government. XRP, on the other hand, is not being adopted on the same scale.

Ultimately, Jake clarified that he is not bashing XRP but calling for an open conversation to guide enthusiasts against overly speculative information.

“It’s easy to get caught up in hype, but unrealistic expectations about XRP’s price could lead to disappointment,” he concluded.

Here are Dogecoin Price Forecasts for 2025, 2028 and 2032 from Multiple Expert Sources

Sam Wisdom Raphael
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Here are Dogecoin Price Forecasts for 2025, 2028 and 2032 from Multiple Expert Sources

Multiple Dogecoin price forecasts suggest most industry commentators expect the meme coin to reach higher levels in 2025, 2028 and 2032.

Dogecoin (DOGE) has been at the mercy of the bears over the past two months, down nearly 44% year-to-date. Despite the persistent bearish pressure, analysts believe the meme coin could stage a recovery push soon. Also, beyond these short-term prospects, DOGE’s long-term targets have remained highly bullish.

Several industry experts believe Dogecoin has the potential to claim new heights in the near and long terms. However, there are conflicting opinions on these targets. Accordingly, The Crypto Basic recently identified Dogecoin price forecasts from multiple experts to give investors an idea of what to expect from the meme coin in the coming years.

Dogecoin Price Forecasts for 2025

DOGE is already down 43.84% in 2025, currently trading for $0.1776, with Q1 nearly over. This places the meme coin in a critical position, as it must first recover these losses before setting up a run to greater heights.

Analysts at Changelly believe Dogecoin could recover from these lows, but the overall outlook is not as bullish as some would expect. They expect DOGE to trade at an average price of $0.785 in 2025 but suggest its maximum price for the year would be $0.483. This forecast is rather conflicting.

Dogecoin Price Forecasts 2025 Changelly
Dogecoin Price Forecasts 2025 | Changelly

Meanwhile, AI chatbot ChatGPT holds a less bullish opinion. According to ChatGPT, if Dogecoin’s typical volatility persists throughout 2025, its Dogecoin price forecasts for this year project a maximum price of $0.35 to $0.45, much lower than DOGE’s ATH. The chatbot says Dogecoin could trade at an average price of $0.18 to $0.25.

Dogecoin Price Forecasts 2025 ChatGPT
Dogecoin Price Forecasts 2025 | ChatGPT

Interestingly, market analysts expect Dogecoin to hit much higher targets during the bull run in 2025. For instance, Javon Marks recently predicted a rise to $2.28, while CryptoSurf says a run to $4 is possible. Another market watcher Trader Tardigrade believes DOGE could reach a peak of $2 in 2025. Analyst “Investments CEO” expects a Dogecoin price of $15 in 2025.

Dogecoin Price Forecasts for 2028

Notably, while Changelly analysts see Dogecoin trading at an average price of $0.483 in 2025, they predict the bearish pressure to persist till 2028. For 2028, Changelly says DOGE will trade at an average price of $0.4955, with its maximum price being $0.5875.

Dogecoin Price Forecasts 2028 Changelly
Dogecoin Price Forecasts 2028 | Changelly

However, ChatGPT disagrees. The chatbot expects Dogecoin to finally claim the $1 mark by 2028, predicting a maximum price of $0.80 to $1.20. To ChatGPT, Dogecoin will trade at an average price of $0.40 to $0.70 throughout 2027.

Dogecoin Price Forecasts 2028 ChatGPT
Dogecoin Price Forecasts 2028 | ChatGPT

Meanwhile, analysts like Trader Tardigrade hold more bullish opinions. According to Trader Tardigrade, Dogecoin has the potential to claim an $8 price in 2028. Market analyst “Deep Whale” suggests that the meme coin could reach $10 by 2028, citing historical context.

Dogecoin Price Forecasts for 2032

Interestingly, 2032 is the year Changelly analysts believe Dogecoin could reach the $2 mark. According to their Dogecoin price forecasts, the meme coin would have an average price of $2.34 in 2032, with a maximum price of $2.64.

Dogecoin Price Forecasts 2032 Changelly
Dogecoin Price Forecasts 2032 | Changelly

While Changelly expects Dogecoin to trade at $2 in 2032, ChatGPT believes the asset could transcend this price mark. The AI chatbot sees Dogecoin reaching a maximum price of $3.5 to $5 by 2032. Further, its disclosures project an average price of $1.5 to $2.5, citing market expansion and adoption.

Dogecoin Price Forecasts 2032 ChatGPT
Dogecoin Price Forecasts 2032 | ChatGPT

However, market resource DigitalCoinPrice is less bullish on Dogecoin’s prospects for 2032. The platform predicts Dogecoin will trade at a maximum price of $1.86, below the $2 mark, in 2032. 

Here’s Why Investors Must Own At Least 1,000 XRP if They Care About Their Financial Success: Crypto Founder

Sam Wisdom Raphael
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0
Here’s Why Investors Must Own At Least 1,000 XRP if They Care About Their Financial Success: Crypto Founder

A crypto founder has insisted that investors must own at least 1,000 XRP tokens if they care about securing a financially successful future.

This bold assertion came from founder of Alpha Lions Academy Edoardo Farina, who has persistently maintained his bullish stance on XRP despite recent market uncertainties. Particularly, since reaching $2.6 on March 20, XRP has dropped by more than 25%, currently battling the bears at $2.16.

Each time the asset attempts to breach the $2.6 to $2.8 resistance range, it faces a massive roadblock that triggers a major correction. However, this bearish pressure has not dampened the confidence of permabulls such as Farina.

You Need to Hold at Least 1,000 XRP

In his latest commentary, while the altcoin struggles below $2.2, he charged investors to amass and hold at least 1,000 XRP. Notably, at the current price of $2.16, those interested in keeping to this charge would spend $2,160 to procure the 1,000 XRP.

According to Farina, holding at least 1,000 XRP tokens is non-negotiable for any investor who is interested in securing a financially successful future. “Owning at least 1,000 $XRP is NOT NEGOTIABLE if you care about your future financial success,” the market pundit boldly asserted.

Edoardo Farina on X
Edoardo Farina on X

This sentiment comes from the belief that XRP will likely skyrocket from the current level to much greater heights sometime in the future. For instance, earlier this month, Farina suggested that XRP reaching the much-coveted $20 price would only be the beginning. 

For the asset to claim $20, it must rally by more than 736%, and at this value, 1,000 XRP would be worth $20,000, a massive $17,610 ROI. Still, Farina believes this would only be the beginning of XRP’s higher uptrend.

Optimism Around an Imminent Upsurge

Notably, attaining financial freedom in any country would definitely require an investment worth more than $20,000. Interestingly, XRP had, in the past, demonstrated its penchant for explosive growth, helping investors secure life-changing wealth. 

Particularly, XRP rallied 109,899% from a low of $0.003 in January 2017 to a peak of $3.3 in January 2018. This meteoric surge transformed a $1,000 investment to $1.1 million within a year. Market commentators like Farina remain optimistic that XRP could replicate this run.

This would not be the first time Farina is charging market participants to hold at least 1,000 XRP. Earlier on, the analyst said holding just 1,000 XRP could be an investor’s best financial decision. Also, he advised those who hold less than 1,000 XRP tokens to ensure they add to their bag.

Here’s How High Shiba Inu Can Go if BlackRock Invests Just 1% of Its $10T AUM into SHIB

Abdulkarim Abdulwahab
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Here’s How High Shiba Inu Can Go if BlackRock Invests Just 1% of Its $10T AUM into SHIB

Shiba Inu continues to await the arrival of institutional players like BlackRock to signal interest in it via exchange-traded funds (ETFs).

Enthusiasts hope that the involvement of institutional giants like BlackRock in Shiba Inu could change things for the coin. Amid this, The Crypto Basic estimates the potential for SHIB should BlackRock decide to take a serious position in it.

Specifically, this article provides a theoretical breakdown of how high Shiba Inu’s price could soar if BlackRock, with its massive assets under management (AUM), invested just 1% into SHIB.

BlackRock’s Potential $100 Billion Investment in Shiba Inu

BlackRock, the world’s largest asset manager, controls a staggering $10 trillion in AUM. A mere 1% allocation of its total capital, $100 billion, could greatly impact the price of Shiba Inu.

For context, SHIB’s market cap is $7.45 billion, with the current price of 1 SHIB at $0.000013. However, precisely estimating how a $100 billion investment could impact SHIB is difficult. This analysis, meanwhile, leverages suggestions from OpenAI’s ChatGPT.

The chatbot estimates that if BlackRock were to funnel $100 billion into SHIB, assuming the supply remained the same, the price of SHIB could jump to $0.0001696.

To put this into perspective, this would give SHIB a 13.07x multiplier. This means SHIB holders could see their investments grow more than 13 times if BlackRock invested just 1% of its capital.

What If Other Major Asset Managers Join In on SHIB?

While BlackRock is a key player, what if other institutional giants like Vanguard or Fidelity decided to make similar moves on Shiba Inu?

  • Vanguard (AUM $8.3 Trillion): If Vanguard allocated 1% of its AUM to SHIB, that would be an $83 billion investment. ChatGPT suggests it could push the price to around $0.00014, a 10.8x increase.
  • Fidelity (AUM $4.5 Trillion): With a 1% investment, Fidelity’s $45 billion would push SHIB to $0.000076, reflecting a 5.9x increase.

These figures show that institutional interest, even from a single player, could once again make SHIB one of the most exciting stories in the crypto space.

However, it is worth noting that there is no guarantee that BlackRock or any of these prominent asset managers would invest 1% of their AUM in Shiba Inu.

BlackRock’s Influence in Crypto

In 2024, the BlackRock Bitcoin ETF (IBIT) secured $37 billion in assets in its first year, placing it third on the global ETF leaderboard. IBIT’s rise showcases strong institutional demand for cryptocurrency exposure via ETFs.

Amid this massive inflow, Bitcoin’s price moved from around $48K in January 2024, when the SEC approved the ETFs, to the record-breaking $100K threshold by December 2024.

As a result, many in the broader altcoin space eagerly anticipate BlackRock’s involvement in other crypto ETFs.

Prominent asset managers like Grayscale, Bitwise, and Franklin Templeton are already pushing ETFs for altcoins like Dogecoin and XRP. However, a filing for a Shiba Inu ETF is still absent.

Top Analyst Explains the Path to $1 for Shiba Inu—Is It Possible

Abdulkarim Abdulwahab
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Top Analyst Explains the Path to $1 for Shiba Inu—Is It Possible

The prospect of Shiba Inu (SHIB) attaining the lofty $1 mark has captured the imaginations of many in the crypto world. 

However, a top analyst on TradingView has recently shared insights that challenge this widely held belief. He provided key points and technical analysis that raise questions about the feasibility of SHIB reaching such a lofty price target.

Understanding the Implication of a $1 Price for Shiba Inu

One of the major reasons why Shiba Inu reaching $1 is highly unlikely is the resulting massive market cap, given the coin’s supply. According to the analyst, for SHIB to hit $1 per coin, its market capitalization would need to reach an astronomical $589 trillion.

For context, the total market cap of gold, the most valuable asset in the world, is just $19 trillion. Likewise, Bitcoin, the crypto market leader, has a market cap of $1.66 trillion.

The analyst argues that this stark comparison illustrates how unreasonable such a target is, especially when compared to assets with more limited supply or higher utility. 

As a result, he emphasizes that claims of SHIB reaching $1 are misleading. In parallel, he suggests that investors look beyond these lofty and unlikely predictions.

Notably, projections arguing for a $1 SHIB price often point to a timeline in the future rather than a near-term expectation. For instance, Telegaon analysts, who have forecasted a $1 price for Shiba Inu, outlined a 2050 timeline. 

By this time, they expect Bitcoin’s price to reach $5.2 million per coin, which would mean a $109.45 trillion market cap. Interestingly, this cap still dwarfs the $589 trillion cap for SHIB, especially if its supply doesn’t decrease.

Bitcoin Market Impact on SHIB

Before commenting on Shiba Inu’s real potential beyond speculative targets, the analyst examines the state of Bitcoin. He points out that Bitcoin is under downward pressure with the potential for further decline.

This, coupled with rising Bitcoin dominance, could hurt altcoins like SHIB, as they typically lose value when Bitcoin falls, especially during periods of high dominance. This means potential losses for Shiba Inu holders as the market reacts to Bitcoin’s fluctuations. 

Should You Still Buy SHIB? Technical Breakdown

On a more technical level, the analyst identifies the formation of a double-top pattern on SHIB’s weekly chart, a bearish signal. After SHIB reached a December 2024 high of $0.00003279, it failed to break above crucial resistance and retraced to the $0.00001296 support.

The analyst suggests that SHIB could dip to $0.0000067 if the price falls below this key support level of $0.00001296. Indeed, Shiba Inu has lost the $0.00001296 support and has since dipped to $0.00001095, coming close to adding a zero to its value.

snapshot
Shiba Inu chart showing double top by TradeCityPro on TradingView

Meanwhile, the analyst makes it clear that, personally, he would never invest in Shiba Inu. Despite its adoption, he believes SHIB remains a “meme coin” with little to no real utility.

Instead, the analyst suggests looking for low-cap coins with higher growth potential. For those still interested in trading SHIB, he recommends exiting positions below the $0.00001296 price point to minimize risk.

At press time, Shiba Inu is trading at $0.00001282, down 13% over the last 30 days. Its year-to-date performance is even worse, showing a massive 40% loss.

XRP Needs to Hit Six Figures—$100 Price Isn’t Enough: Expert

Sam Wisdom Raphael
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XRP Needs to Hit Six Figures—$100 Price Isn’t Enough: Expert

A market expert has suggested that XRP would still be undervalued even if it hit three figures, suggesting a six-figure price might be necessary.

This bold commentary came from Versan Aljarrah, host of The Black Swan Capitalist, who has persistently been an XRP permabull, often projecting ambitious price targets. His latest audacious take hinges on XRP’s potential role in the broader financial market.

XRP Undervalued at $100?

According to a post on X, Aljarrah believes XRP is built for unlimited scalability, making it a prime asset for institutional finance. He argues that as XRP’s price rises, its liquidity increases, enabling it to handle massive transaction volumes. 

Notably, several projections have tipped XRP to hit $100, but many have dismissed this target due to the resulting market cap. 

However, in an interesting twist, Aljarrah insists that even at $100, XRP remains deeply undervalued. He predicts that if it attains full adoption, a six-figure price won’t just be possible, but will be necessary for its role in financial markets.

XRP at the Forefront of Financial Disruption

In a previous disclosure, Aljarrah compared the ongoing transformation in finance to past disruptions in media and commerce. To support his claim, he referenced a statement from Mark Yusko, founder of Morgan Creek Capital. 

Yusko pointed out that the internet drastically changed industries over the past three decades. Traditional media companies lost value to streaming platforms like Netflix, while small retailers struggled against giants like Amazon. 

However, Yusko emphasized that these changes are minor compared to the current revolution in financial services. He described finance as a multi-trillion-dollar industry and noted that many people fail to grasp the sheer scale of this shift.

Building on Yusko’s perspective, Aljarrah argued that blockchain technology is at the heart of this financial transformation. He believes the world is witnessing the largest wealth transfer in history. 

Just as the internet restructured entire industries, blockchain will redefine value storage and movement. In his view, XRP is positioned at the center of this change, making early adoption crucial. 

The XRP to $100 Target

Meanwhile, other analysts share similar views. Crypto analyst Amelia (@Crypto_Barbie) has an even more aggressive prediction. She dismissed the idea of XRP at $100 as unrealistic—not because it’s too high but because it’s too low. 

In her view, XRP will eventually reach five or six-digit valuations, echoing Aljarrah’s sentiments. She urged investors to prepare for a future where XRP stabilizes at these levels.

Also, in November 2024, market expert Armando Pantoja predicted a major breakout for XRP. At the time, the asset was trading at just $0.63, but Pantoja noted it was escaping a seven-year consolidation phase. He claimed that a $100 price was within reach. 

The analyst also pointed to regulatory factors, suggesting that the removal of former SEC Chairman Gary Gensler could trigger a price surge. Since then, Gensler has been removed, and XRP has climbed to the current price of $2.15, marking a 256% increase.

Pundit Reveals How He Got Rich by Leveraging DCA for XRP Investments

Sam Wisdom Raphael
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Pundit Reveals How He Got Rich by Leveraging DCA for XRP Investments

A market pundit has championed the DCA approach for XRP investments, sharing a method he leveraged to secure wealth over half a decade.

While XRP’s price has mostly struggled since February 2025, some savvy investors have leveraged the current market struggles to position themselves for massive gains in the future. This approach often works, and market pundit Edoardo Farina has repeatedly championed it.

Pundit Advocates for XRP DCA

In his latest commentary, Farina he noted that this method, which involves dollar-cost averaging into XRP, was what made him rich. According to him, he was able to secure wealth by procuring small amounts of XRP every day for up to five years.

For the uninitiated, Dollar-cost averaging (DCA) is a strategy where an investor consistently commits a particular amount into an asset regularly regardless of the price. Notably, this helps reduce the impact of market volatility and lowers the risk of making poor timing decisions.

If an investor aims to procure 100 XRP every week for a year, they continue with this strategy whether XRP trades for $0.5 or $2. A classic DCA instance is MicroStrategy’s Bitcoin purchase campaign, which has seen the software development company amass 506,137 BTC since August 2020. The firm has secured $10.8 billion in profit.

However, Farina’s advocacy is for a DCA strategy involving XRP, which he believes is a better choice. “DCA is the cheat code nobody talks about,” the Alpha Lions Academy founder quipped. 

XRP Presents More Gains Than Bitcoin

Interestingly, The Crypto Basic also confirmed earlier this month that MicroStrategy could have recorded $60 billion more in profit if it had DCA’d into XRP rather than BTC. 

Notably, speaking about his personal experience in the recent commentary, Farina suggested that if the past five years with XRP have presented tremendous gains, the next five years could also prove to be fruitful if DCA is employed.

Farina then shared a screenshot of a single transaction he carried out in January 2021. Data shows that he converted 0.33 BTC worth €8,618 at the time to 45,425 XRP. During this period, Bitcoin changed hands at €26,115, while XRP traded for €0.19. 

Four years later, the XRP community figure does not regret his decision. Currently, the 45,425 XRP is worth €103,114, with XRP trading for €2.27. If he had retained his 0.33 BTC, the investment would have been worth €26,778, as Bitcoin changes hands at $81,146 at press time.

Notably, most of XRP’s impressive performance came up during the November 2024 uptrend following Donald Trump’s victory. While Bitcoin and the rest of the market also saw rallies, XRP outperformed. Since November 2024, XRP has gained 284% against BTC, up 10.26% this month alone despite the ongoing struggles. 

Brazilian Government Official Says Bitcoin Reserve Is Crucial for National Prosperity

Elendu Benedict
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Brazilian Government Official Says Bitcoin Reserve Is Crucial for National Prosperity

A high-ranking federal officer of the Brazilian government has insisted that a Bitcoin reserve is necessary for the nation’s financial posterity.

Speaking as a federal representative at a congressional ceremony on Wednesday, Pedro Giocondo Guerra established Brazil’s susceptibility to creating a strategic Bitcoin reserve. He insisted that creating a stockpile of the pioneering cryptocurrency is crucial in facilitating the nation’s prosperity.

Guerra is Vice President Geraldo Alckmin’s chief of staff and a key member of Brazilian President Luiz Inacio Lula da Silva’s administration. Furthermore, owing to his representation of the nation during the event, his comments speak volumes about Luiz’s stance on a strategic Bitcoin reserve.

Will Brazil Be the Next to Adopt Bitcoin?

A Bitcoin strategic reserve has become an international debate since Donald Trump announced plans to create one for the United States. Upon fulfilling his promises in early March, other nations have intensified plans to follow America’s lead.

Moreover, Brazil has never hidden its admiration for Bitcoin and digital assets. The South American country’s bullish stance was reflected in Guerra’s speech at the inauguration ceremony of Julio Lopes, the new president of the FPBC (Parliamentary Front for a Competitive Brazil).

According to local media outlet Poder360, Guerri described Bitcoin as the “gold of the internet.” The vice president’s chief of staff lauded the premier asset’s properties as a store of value and its role in convenient wealth transfer globally.

Furthermore, he stated that creating a strategic Bitcoin reserve has become paramount to Brazil’s prosperity. He insisted that the ploy is in the public’s best interest amid the asset’s widely recognized ability to hedge against inflation.

Bill for a Brazil Bitcoin Reserve Already in Play

Meanwhile, a bill urging Brazil to create a Bitcoin stockpile is already before lawmakers. Congressman Eros Biondini filed a proposal for the national treasury to store a portion of Brazil’s wealth in the pioneering cryptocurrency.

Specifically, the proposal suggests allocating 5% of Brazil’s international reserve, worth $18.3 billion as of December 2024, to buying Bitcoin. Per the proposal, the Brazilian Central Bank would custody the acquired bitcoins through advanced blockchain technologies.

Elsewhere, Sao Paulo’s former deputy, Luiz Phillipe of Orleans-Braganza, submitted a proposal to Brazil’s national congress to expand Bitcoin’s utility in the nation. The bill seeks to legalize Bitcoin payments, allowing employees to receive up to 50% of their labor rights in the premier asset.

Donald Trump Grants Presidential Pardon to Arthur Hayes and Three Former BitMEX Execs

Elendu Benedict
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0
Donald Trump Grants Presidential Pardon to Arthur Hayes and Three Former BitMEX Execs

President Donald Trump has granted pardons to the three co-founders of the prominent crypto exchange, BitMEX, and a fourth high-ranking employee.

The pro-crypto president granted pardon to BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed alongside Gregory Dwyer, the former head of business development, media outlet CNBC reported. The four BitMEX employees pleaded guilty to one count of violating the Bank Secrecy Act in 2020, each receiving different punishments.

However, Trump has exempted them from the repercussions of the criminal sentencing on Thursday, adding to the list of crypto-related pardons from the president. Notably, such clemency does not erase records of the wrongdoing but erases all corporate penalties tied to the pardoned offense.

BitMEX Employees Receive Pardon

The Commodity Futures Trading Commission sued Hayes, Delo, and Reed in October 2020 for operating BitMEX without due licensing from the regulator.

Under their leadership, the exchange also failed to implement crucial requirements like Know Your Customer (KYC) and Anti-Money Laundering (AML) measures, allegedly making it a facilitator of criminal laundering activities.

The trio pleaded guilty to the case, and federal prosecutors ordered them to pay a combined $30 million in civil penalties. Furthermore, they sentenced Hayes to six months of house arrest and two years of probation, while Delo and Reeds received 30 months and 18 months of probation, respectively.

Meanwhile, the CFTC slammed Dwyer with a $150,000 fine and 18 months of probation. Subsequently, a federal court ordered BitMEX to pay a $100 million fine for the Bank Secrecy Act violation.

Thank You POTUS

The presidential pardon sparked reactions from the involved individuals, who expressed appreciation. Hayes took to X to applaud Trump’s forgiveness.

“Thank you POTUS,” Hayes tweeted.

Moreover, Delo stated that the pardon vindicated the wrongful criminal indictment against him and other BitMEX founders. He insisted that Trump has righted a legal wrong done years ago from an obscure perspective.

Thursday reports also confirmed that Trump pardoned Trevor Milton, the founder of electric truck manufacturer Nikola, for his criminal charges of breaking securities law. The president had earlier acquitted Silk Road’s Ross Ulbricht, while parents of disgraced FTX founder Sam Bankman-Fried are vying for a similar pardon.

Here’s How High Dogecoin Can Reach If BTC Market Cap Hits $500T As Predicted By Michael Saylor

Lele Jima
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Here’s How High Dogecoin Can Reach If BTC Market Cap Hits $500T As Predicted By Michael Saylor

Dogecoin’s price could soar to double digits if it mirrors Bitcoin’s growth rate and BTC eventually reaches a market capitalization of $500 trillion. 

Dogecoin (DOGE) has continued its downturn below the $0.20 price mark. Due to a Bitcoin-led market sell-off, the top meme coin crashed further over the weekend. On March 29, DOGE dipped to a daily low of $0.1757, marking a decline of 4.92% from its daily high of $0.1848. 

It has rebounded slightly to $0.1766 in the hours leading up to press time. Despite DOGE’s latest underperformance, investors are still bullish about the token’s long-term potential, especially as top crypto stakeholders release bullish predictions for Bitcoin. 

Saylor Predicts Bitcoin Surge to $500T Market Cap 

Last week, Michael Saylor, the executive chairman of Strategy, issued a bullish prediction for Bitcoin at the DC Blockchain Summit in Washington. 

He characterized the world’s largest cryptocurrency as the next evolution of money, noting that the asset will thrive irrespective of whether the U.S. backs it. Notably, he predicted that Bitcoin is poised to achieve a market capitalization of $500 trillion in the future. 

With Bitcoin’s market cap currently standing at $1.66 trillion, hitting an ambitious valuation of $500 trillion requires a surge of 30,020%. 

Dogecoin Correlation with Bitcoin 

Bitcoin’s potential rise to a $500 trillion market cap could have a ripple effect on altcoin prices, particularly those highly correlated with the premier asset.  

It is common knowledge that Dogecoin has a high correlation with Bitcoin, as observed in both assets’ recent price actions. While DOGE’s price has plunged 2.81% in the past day, Bitcoin’s value has also plummeted 2.48% in the same time frame. 

Also, data from IntoTheBlock shows that Dogecoin has a 97% correlation with Bitcoin over the past 30 days and a 95% correlation in the past two months. 

This indicates that Bitcoin’s price action will significantly influence DOGE’s performance, especially if it achieves the $500 trillion target. 

DOGE Price If It Mirrors Bitcoin’s Surge to $500T Market Cap 

In the meantime, DOGE is currently trading at $0.1766 per token, and its market cap is $26.24 billion. 

Therefore, if DOGE experiences a similar growth rate of 30,020%—mirroring Bitcoin’s projected surge to a $500 trillion market cap–its valuation could potentially hit a whopping $7.9 trillion. 

At this market cap, one DOGE would change hands at $53.15, assuming Dogecoin’s circulating supply remains stable at 148.62 billion tokens. 

While this estimate seems unrealistic, some crypto experts and prediction platforms still think DOGE can achieve this price target in its lifetime. 

For instance, the Telegaon prediction platform predicted that DOGE would achieve a target price of $53 between 2036 and 2039. However, Changelly gave a specific timeline of August 2040, noting that DOGE would trade between $51.58 and $63.01 by then. 

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