Cryptocurrency
"Ripple's XRP Skyrockets, Bets on ETF After Trump Win"
2024-12-02
Ripple's XRP has witnessed a remarkable price increase since the victory of Republican Donald Trump in the U.S. presidential election. This has set the stage for 2025 to be a significant year for both bitcoin and the crypto market. Unlock over $3,000 in NFT, web3, and crypto perks by applying now! XRP, which briefly became the world's third-largest cryptocurrency behind bitcoin and ethereum due to its 400% price rally in the last month, is now approaching its 2017 bull run all-time high after a leak revealed a planned December launch.

Wall Street's Push for XRP ETF

Elon Musk's quiet confirmation of a crypto market game-changer has led Wall Street to push for Ripple's XRP to win a spot exchange-traded fund (ETF). This follows in the footsteps of bitcoin and ethereum, which scored their own spot ETFs this year. ETF giant WisdomTree has joined Bitwise and Canary Capital in filing to create an XRP spot ETF, with Bank of New York Mellon serving as the administrator for the proposed trust. The fleet of bitcoin spot ETFs that debuted in January has surged, becoming some of the fastest-growing ETFs of all time, boosting the bitcoin price and sparking speculation about the potential for future crypto spot ETFs to fuel price gains.

Legal Battle and Its Impact

Ripple's XRP had been stagnant during the 2021 bitcoin price and crypto market bull run due to a long-running legal battle with the U.S. Securities and Exchange Commission (SEC). However, the situation may be changing. SEC chair Gary Gensler, who brought charges against Ripple for XRP sales he claimed were the sale of unregistered securities, said he will quit the agency in January to make way for a U.S. president-elect Donald Trump appointee. This could potentially bring an end to the legal battle. Arthur Azizov, the chief executive of crypto exchange and payment processor B2BinPay, stated that XRP was in an accumulation phase for nearly three years, around 900 days. The duration of such a phase often determines the strength of the subsequent rally, which is why XRP has surged around 404% since November 4. He also added that the improving regulatory landscape and XRP's "immense potential" could push its price beyond its 2017 bull run all-time high in 2025.

XRP's Recent Performance

The XRP price has been on a rapid upward trajectory in the last few weeks, making it the third-largest cryptocurrency after bitcoin and ethereum. In the past, XRP's growth was restricted by its ongoing legal battle with the SEC, even as other alt coins were rallying. But right after the announcement of SEC chair Gary Gensler's resignation, XRP has risen by over 36%. His departure has raised expectations that the legal battle could soon end in Ripple's favor. Additionally, major companies are reportedly planning XRP ETFs and awaiting the conclusion of the lawsuit, which could also pave the way for an IPO for Ripple. The crypto community is betting that Trump will install a crypto-friendly SEC chair due to his close links to crypto through his non-fungible token (NFT) collections and his new cryptocurrency and decentralized finance (DeFi) platform World Liberty Financial.Sign up now for the free CryptoCodex - A daily five-minute newsletter for traders, investors, and the crypto-curious that will keep you up to date and ahead of the bitcoin and crypto market bull run.
How Blockchain Tech Will Shape the Future of Cryptocurrencies
2024-12-02
Financial Freestyle, a renowned podcast, offers a deep dive into the world of finance and cryptocurrency. With episodes featuring experts like Armando Pantoja, it sheds light on the booming cryptocurrency market and the underlying blockchain technology.

Discover the Power of Cryptocurrency and Blockchain

Apple Podcasts and Beyond

Listening to Financial Freestyle is a gateway to a world of financial knowledge. You can find it on Apple Podcasts, Spotify, and other popular platforms. It brings together experts and enthusiasts to discuss various aspects of finance, with a special focus on cryptocurrency. 1: The convenience of having Financial Freestyle available on multiple platforms allows listeners from all walks of life to access valuable financial insights. Whether you're a seasoned investor or just starting to explore the world of finance, these podcasts provide a wealth of information. 2: The reach of Financial Freestyle extends far and wide, reaching audiences around the globe. It serves as a platform for sharing ideas, experiences, and strategies related to finance and cryptocurrency, fostering a community of like-minded individuals.

The Cryptocurrency Surge and Viability

The recent cryptocurrency surge has sparked a lot of interest and debate. It has given credibility to the idea of digital currency and its potential impact on the financial world. 1: This surge is not just a passing trend but a sign of the evolving nature of finance. Cryptocurrencies like Ethereum have shown remarkable growth and innovation, challenging traditional financial systems. 2: The viability of digital currency is being tested as more and more people embrace it. Financial Freestyle plays a crucial role in analyzing and understanding these developments, providing valuable insights for investors and enthusiasts alike.

Armando Pantoja's Journey

Armando Pantoja, a former cryptology graduate student, has a fascinating story to tell. His initial foray into the cryptocurrency market was marked by a crash in 2013, which led him to withdraw. However, his perspective changed with the emergence of Ethereum in 2015. 1: Pantoja's interest in the computing side of Ethereum led him to delve deeper into the world of cryptocurrency and blockchain. His experiences and insights have shaped his views and actions in the industry. 2: His journey from a skeptic to an avid advocate for cryptocurrency is a testament to the transformative power of blockchain technology. His work with ICO Ranker and subsequent sale highlight his expertise in the field.

The Underlying Technology: Blockchain

Much of the skepticism surrounding cryptocurrencies stems from a lack of understanding of blockchain technology. Pantoja emphasizes the importance of this technology in making cryptocurrencies secure and tamper-proof. 1: Blockchain is the backbone of cryptocurrency, providing a secure and transparent way of recording transactions. It eliminates the need for intermediaries and reduces the risk of fraud. 2: The security and immutability of blockchain make it a revolutionary technology with the potential to transform various industries. Financial Freestyle helps readers and listeners understand the significance of this technology.

Financial Freestyle's Mission

Financial Freestyle with Ross Mac on Yahoo Finance is dedicated to promoting economic prosperity for all. Through expert insights, practical advice, and inspiring success stories, it empowers individuals to build and grow wealth. 1: The podcast's mission is to provide a platform for sharing knowledge and experiences that can help people achieve their financial goals. It offers a unique perspective on finance and cryptocurrency, going beyond the surface level. 2: By joining the Financial Freestyle community, readers and listeners can gain the confidence and skills needed to navigate the complex world of finance and make informed decisions.This post was written by John Tejada.
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MicroStrategy Buys $1.5B Bitcoin; Saylor Urges Microsoft
2024-12-02
MicroStrategy's recent foray into the bitcoin market has been making waves. The company's continuous acquisition of significant amounts of bitcoin has not only impacted its own financial standing but also has implications for the broader crypto space. Let's delve deeper into the details.

Unraveling MicroStrategy's Bitcoin Journey

MicroStrategy's Bitcoin Purchases: A Massive Move

MicroStrategy's decision to purchase another $1.5 billion worth of bitcoin showcases its unwavering faith in the digital asset. With this latest transaction, the company now holds a substantial 402,100 bitcoins, which is nearly 2% of the total 21 million supply. This move positions MicroStrategy as a major player in the bitcoin market, attracting attention from both investors and industry experts. It demonstrates the company's strategic approach to asset allocation and its belief in the long-term potential of bitcoin.The average purchase price of $95,976 per bitcoin in this latest stash further highlights the company's commitment. Despite the fluctuations in the market, MicroStrategy continues to see value in bitcoin and is willing to make significant investments. This not only indicates the company's confidence in the cryptocurrency but also sets an example for other businesses considering entering the crypto space.

MicroStrategy vs. Other Tech Giants: A Tale of Two Strategies

While MicroStrategy has been actively buying bitcoin, other mega-cap tech firms have been more cautious. Tesla, for example, sold most of its bitcoin holdings but still retains a significant value. This contrast in strategies raises questions about the future of bitcoin within the tech industry. Some analysts believe that as more companies adopt a similar approach to MicroStrategy, it could have a positive impact on the prices of bitcoin in times of volatility.MicroStrategy Chairman Michael Saylor has been a vocal advocate for publicly-traded companies holding bitcoin. Since 2020, when MicroStrategy made its first bitcoin purchase, Saylor has been espousing the potential benefits. His efforts to urge Microsoft to buy bitcoin further highlight the growing interest in bitcoin as a treasury reserve asset. In a video dated Dec. 1, Saylor presented to the Microsoft board, arguing for the tech giant to invest in bitcoin instead of traditional buybacks or dividend distributions. This proposal follows a similar stance taken by the National Center for Public Policy Research, which engages in shareholder activism in support of conservative policies.The Microsoft board's previous recommendation to shareholders to vote against the proposal adds an interesting dynamic to the situation. It shows the ongoing debate within the corporate world about the role of bitcoin and its potential impact on shareholder value. As the crypto market continues to evolve, these discussions will likely become more prominent.

The Impact on MicroStrategy's Shareholders and the Market

MicroStrategy's bitcoin purchases have had a significant impact on its shareholders. Despite a nearly 1% dip in shares on Monday, the company has still gained a whopping 500% year-to-date. This demonstrates the market's recognition of the potential value that bitcoin can bring to the company. As more investors see the success of MicroStrategy's strategy, it may encourage them to consider similar investments in the crypto space.For the broader market, MicroStrategy's actions have also sent a signal. The fact that a prominent company like MicroStrategy is investing heavily in bitcoin can influence other investors and businesses to take a closer look at the digital asset. It shows that bitcoin is no longer just a niche investment but has gained mainstream attention and recognition.In conclusion, MicroStrategy's bitcoin buys have been a significant event in the crypto market. The company's strategic approach and Saylor's advocacy have sparked a lot of discussion and interest. As the market continues to evolve, it will be interesting to see how other companies respond and how bitcoin's role in the corporate world continues to develop.
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