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Bitcoin. Macro. Markets. Money. Weekdays 9:30am-11:30am ET | By @BitcoinMagazine ๐
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๐ @DoombergT says the Bitcoin vs. gold debate comes down to age:
"Younger people are far more likely to allow an agent to take over their computer than a retiree living on a pension. So it goes with Bitcoin and gold." ๐
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Galaxy's @intangiblecoins on why money keeps choosing AI stocks over Bitcoin:
1๏ธโฃ AI "touches every part of the economy"
2๏ธโฃ Bitcoin "is not the sexy investment" right now
"But that will come back. That also creates an opportunity." ๐
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If quantum computers start breaking keys, does your wallet setup matter? ๐
Unchained's CEO Joe Kelly says yes:
"The layering that's there in multi-sig is going to ultimately be more robust and give people more time to migrate when they're faced with that kind of emergency."
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๐บ๐ธ Could the US still add to its Strategic Bitcoin Reserve in 2027?
Mason Lynaugh says lawmakers need to "feel the heat from their holders back home; that Bitcoin reserve must happen." ๐ฅ
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Oil is up about 87% this year, but the bond market isn't pricing an inflation scare ๐
From Dec 31 to Oct 27, 10-year real yields climbed 0.71 points to 2.64%, while inflation pricing moved just 0.10 points. That means almost 90% of this year's rise in the 10-year is real yields, at levels not seen since 2008.
BMTV's Sean Hagan says that's what tight money looks like. The thing to watch is whether inflation pricing starts catching up to oil ๐
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๐บ๐ธ Stand With Crypto's Mason Lynaugh on what crypto voters can prove on Election Day:
Swinging a key House race "projects political power that influences how everybody governs"
"Crypto voters are gearing up and ready to show their strength on Election Day." ๐ณ๏ธ
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Galaxy's @intangiblecoins on why "the bottom is in" for Bitcoin:
โก๏ธ Regaining the 50-week average after 20+ weeks below it has never preceded a drawdown
โก๏ธ BTC is now 5 to 6 weekly closes above the 50-week
No new bear market low has ever followed that setup.
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๐ช๐บ In 2022, the ECB's official X account said Bitcoin was headed down "a road to irrelevance."
BTC was around $17,200 that day.
"Isn't it great to say you out-traded the European Central Bank?" ๐
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๐ @DoombergT says the US pressuring allies not to sell Treasuries is "wildly bullish" for gold and Bitcoin:
"You probably don't want to buy Treasuries because you can't sell them when you need them."
"In the long term, it's actually wildly bullish for assets like gold and Bitcoin." ๐
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JUST IN: ๐ท๐บ Russia's central bank approved NAUFOR as a self-regulatory body for crypto exchanges and custodians. ๐
Russia's new crypto law requires all registered crypto firms to join a self-regulatory organization within the next 90 days.
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Fidelity Digital Assets says Bitcoin has outperformed gold by 58% since February 28:
This suggests "investors may increasingly see it as a safe haven."
Its Q4 Signals report adds that Bitcoin may have already hit a cyclical bottom, with possibly more room to run. ๐
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JUST IN: Fidelity Digital Assets reports Bitcoin holdersโ unrealized profits jumped from 0.09 to 0.36 last quarter ๐
โHistorically, periods when BTCโs NUPL score hovered around 0.36 (ยฑ0.05) have coincided with a median one-year return of 93%.โ ๐
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Thank you to @SenatorHagerty for joining us today!
For those unaware, he is the architect behind the Genius Act.
We discussed American dominance in the digital age with Bitcoin, AI, and Nuclear as well as the impacts midterm elections may bring.
Go listen, and go vote.
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JUST IN: ๐บ๐ธ Senator Bill Hagerty says growing the U.S. Strategic Bitcoin Reserve beyond its current 200,000 BTC โcould come very soonโ once crypto market structure legislation gets done ๐
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๐บ๐ธ Senator Bill Hagerty says parts of the CLARITY Act can still pass:
"We may not pull every single piece of it back together again, but components of the CLARITY Act need to be in place."
"We need to maintain that leadership, and if we're not in the digital asset arena, we will lose it."
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โก @UTXOmgmt CIO Tyler Evans on how AI agents could make Bitcoin as easy as Apple Pay:
"Private keys and wallets and transaction hashes and UTXOs and sats per vByte... is a significant barrier to entry to making Bitcoin user-friendly."
"There's an opportunity to rethink that entire user experience... and to make it as user-friendly as pulling out your Apple Pay wallet today." ๐
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Bitcoin is trading 44% below its power law trend, a long-term model that plots price against bitcoin's age ๐
Refit with today's data, that trend sits near $144,000.
The version published in 2019 would put it near $188,000.
The model has missed on the level, but not the direction. Every time bitcoin fell this far below trend, it was higher a year later, four for four.
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Bitcoin for Corporations' Allen Helm on Bitcoin treasury companies going global:
"Capital does what capital wants and it's gonna ultimately find where it can find liquidity."
"[The United States] has a really great opportunity to be the unifier of these markets." ๐
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โฌ๏ธ @blocks Maria Pesce (@mariapesce) on the new Bitcoin Does campaign:
"Bitcoin right now, it doesn't solve every financial problem. But it does give our customers and people choice and agency."
"In a world where nothing really makes sense, Bitcoin does."
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Bitcoin isn't a future utopia. @blocks Maria Pesce (@mariapesce) on what's already happening across @CashApp and @Square:
"We have people paying with Bitcoin. We have people living on the Bitcoin standard."
"We're just getting started."
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173 public companies now hold Bitcoin.
Bitcoin for Corporations' Allen Helm on his pitch to the CFOs who don't: "We know cash is a melting ice cube at the end of the day."
"Just take one or two percent and just see what happens over the course of an entire cycle."
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