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Bitcoin (BTC)

Crypto Markets Turn Red Despite BoE’s Interest Rate Cut and Donald Trump’s Reaffirmed BTC Support: This Week’s Crypto Recap

All eyes in the cryptocurrency community were on the Bitcoin Conference in Nashville last weekend as the former US president and current Republican candidate, Donald Trump, was expected to appear. Once he took the stage, the crypto markets went on a wild rollercoaster with tons of volatility due to some of his promises, such as to make the US the ‘digital asset capital of the world’ as well as to remove SEC Chair Gary Gensler from his post immediately after retaking the...

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MicroStrategy Adds 169 BTC to Holdings, Unveils New ‘Bitcoin Yield’ KPI

On August 1, MicroStrategy founder Michael Saylor announced that in July, the firm acquired an additional 169 BTC for $11.4 million and now holds a total of 226,500 BTC. The company continues to focus on its bitcoin acquisition strategy. However, it faced significant impairment losses due to BTC price fluctuations, resulting in a second consecutive quarterly loss. The world’s largest corporate holder of BTC now has $14.6 billion worth at current spot prices, and it wants...

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Trump’s Sneaker Site Is Selling Bitcoin-Themed Sneakers

The Trump Sneakers website, an online store he declared fully owned in his 2023 financial disclosure, listed Bitcoin-themed high-top and low-top shoes right after he concluded his speech at BTC 2024. These sneakers cost as much as $499. Resellers have already flooded secondary markets like eBay with it, listing it for as much as five times the original price. Some were seen with an asking price of $2,500. If people are shelling out that amount is yet to be known. Nevertheless, the most...

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New Bitcoin Act Legislation Aims to Establish US Cryptocurrency Stockpile

Pro-crypto Wyoming Senator Cynthia Lummis unveiled her Bitcoin bill on July 31, labeling it “our Louisiana Purchase moment.” The proposed ‘Bitcoin Act’ aims to add 1 million BTC, worth around $64 billion at current prices, to U.S. government holdings over five years. The legislation aims to establish a strategic Bitcoin reserve and other programs: “To ensure the transparent management of Bitcoin holdings of the Federal Government, to offset costs utilizing certain resources...

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