Mt.Gox CEO Mark Karpeles returns to the crypto market and will launch new cryptocurrency exchange EllipX
EllipX will comply with the EU’s MiCA regulations, with plans to add fiat services and offer fee cuts for former Mt. Gox users.
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Economist Peter Schiff believes using Bitcoin as a strategic reserve asset will push the United States further away from democracy
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Economist Peter Schiff criticises the idea of Bitcoin becoming a strategic reserve asset.
He likens this expectation to political vote-buying, comparing it to promises of student loan forgiveness.
Trump may declare Bitcoin a reserve asset
Rumours suggest former President Trump might announce Bitcoin as a reserve asset.
Senator Cynthia Lummis's cryptic post fuels these speculations.
The cryptocurrency prediction market, Polymarket, gives this a 27% chance of happening.
Investor Resolve
Schiff recently polled Bitcoin holders about their reaction to a market downturn.
89% of respondents claimed they would hold onto Bitcoin even if its value dropped below $15,000.
Bitcoin's Current Status
Bitcoin is currently trading at $64,157.90, down 2.34% in the last 24 hours.
Conclusion
Schiff remains sceptical about Bitcoin's potential as a strategic reserve, highlighting political motivations and market volatility.
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