Day: January 14, 2025

SEC Chair Gary Gensler says Bitcoin is speculative but likens it to gold

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Key Takeaways Gensler calls Bitcoin a speculative asset with global appeal, comparing its widespread interest to gold during his CNBC exit interview. Gensler warned that most tokens besides Bitcoin might be regulated under securities laws. Share this article SEC Chair Gary Gensler compared Bitcoin to gold in a CNBC “Squawk Box” interview while discussing the digital asset’s speculative nature ahead of his departure from the regulatory agency. “Bitcoin is a highly speculative, volatile asset,” Gensler said. “But with 7 billion people around the globe wanting to trade it—just like we’ve…

Syria Exploring The Embrace of Bitcoin

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Syria’s economy is in a bad state, to put it very mildly. Not only has the Middle Eastern nation been battered by over a decade of war, the Assad regime, which has been in power since 1971, has now been overthrown by a jihadist group. The conflict, which began in 2011, has devastated infrastructure, displaced millions, and led to economic sanctions from Western nations. These factors have crippled the local economy and trade, leading to severe inflation. The Syrian pound (SYP), which was once relatively stable, has lost over 99%…

Bitwise CIO says corporate Bitcoin buying is set to explode

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Key Takeaways Bitwise CIO Matt Hougan views corporate Bitcoin purchases as a megatrend. New accounting standards are encouraging more companies to add Bitcoin to their balance sheets. Share this article Matt Hougan, Bitwise Chief Investment Officer, predicted in a client note on Tuesday that hundreds of companies will buy Bitcoin for their treasuries over the next 12 to 18 months. He added that these purchases could lift the entire Bitcoin market substantially higher, describing this shift as a bona fide megatrend. Hougan noted that MicroStrategy’s aggressive Bitcoin acquisition strategy has…

JPMorgan predicts Solana, XRP ETFs could draw around $14 billion in first 12 months if approved

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Key Takeaways JPMorgan estimates that Solana and XRP ETFs could attract up to $14 billion in investments within the first year if approved. Skepticism remains about the near-term approval of these ETFs given regulatory concerns about classifying tokens as securities. Share this article JPMorgan forecast that Solana and XRP ETFs could generate approximately $14 billion in investments during their first 12 months, despite earlier doubts about SEC approval. The projection, shared by VanEck’s head of digital assets research Matthew Sigel, is based on market penetration rates similar to existing Bitcoin…