What Happened: On Sunday, Scaramucci took to X to voice his approval of Republican policies that benefit the crypto industry and expressed agreement with Trump’s remarks about Bitcoin made at the Bitcoin Conference in Nashville on Saturday.

Scaramucci clarified: “As a bitcoiner, I applaud the Republican policies supporting the crypto industry. I agree with everything President Trump has said about Bitcoin. I even praised him from the stage yesterday for advancing the issue and bringing Bitcoin into the spotlight.”

He lauded Trump for “forcing the issue and elevating Bitcoin’s prominence,” and expressed hope that Bitcoin could become a bipartisan topic.

Additional Context: Scaramucci has also indicated that he is not solely focused on Bitcoin and recognizes the potential risks in Trump’s approach. In a CNBC interview, Scaramucci discussed how a second Trump term might affect the value of major cryptocurrencies and commended Trump’s position: “I applaud President Trump for his stance.”

Scaramucci highlighted that Trump’s engagement with Bitcoin and crypto assets has caught the attention of his Democratic rivals, noting, “President Trump’s effort to attract Bitcoin supporters has shaken the Democrats.”

Why It Matters: Scaramucci’s endorsement of GOP Bitcoin policies and his praise for Trump’s perspective underscore the increasing acceptance of Bitcoin within political and financial spheres. His comments suggest Bitcoin could become a significant topic in future political discussions.

The post Scaramucci: ‘I Agree With Every Single Statement Trump Has Made About Bitcoin’ appeared first on Money Guide.

A few of us from CoinDesk were fortunate enough to be there in person. Instead of churning out another cliché conference wrap-up, we decided to give you a snapshot of our experience.

Our challenge was not just absorbing everything but also strategizing how we would cover former President Donald Trump’s keynote on Saturday, the conference’s final day. The security surrounding this particular speech was unprecedented for Bitcoin and crypto events. We weren’t sure if we’d be allowed to bring laptops or high-quality cameras inside, or if we’d have the connectivity needed to file stories and send updates.

Wednesday

Although the official conference kicked off on Thursday, side events and parties were already buzzing on Wednesday. We attended the BIT GALA at the Nashville Parthenon, a 127-year-old replica of the ancient Greek temple. The entrance path was covered in orange carpet—reflecting Bitcoin’s signature color—and the interior was bathed in orange light, illuminating the 42-foot-tall (12.8-meter) replica of the goddess Athena.

To be fair to the event organizers, the following image was captured before the festivities truly began. Later that evening, we had a 97-percent-confirmed sighting of Heather Morgan, aka rapper “Razzlekhan,” who, along with her husband, pleaded guilty in July 2023 to charges related to the $3.5 billion Bitfinex hack. On Sunday, Jameson Lopp, CTO of Casa and a contributor to open-source Bitcoin projects, mentioned crossing paths with her in Nashville. Additionally, we heard from a source that she was presenting herself as a “Web3 advisor.”

Below is a view of the main Nakamoto Stage, where many prominent figures spoke. This room would later be secured by the U.S. Secret Service with a separate security check, ahead of the appearances by independent U.S. presidential candidate Robert F. Kennedy Jr. on Friday and Trump on Saturday.

The post Bitcoin Nashville Conference Highlights: Vibrant Orange Athena, Bold Pink Suits, Polymarket Gear, and a Remix of Trump’s Song appeared first on Money Guide.

The Emoji Removal: What Happened?

Elon Musk’s X, formerly known as Twitter, has been known for its dynamic approach to content moderation and platform management. Recently, users noticed that emojis representing Bitcoin and the MAGA slogan, which had previously appeared in association with certain hashtags, were no longer visible.

The Bitcoin emoji, a symbol often used to denote discussions about cryptocurrency, and the MAGA emoji, a symbol of former President Donald Trump’s campaign slogan, were both prominent elements in hashtag conversations. Their removal raises questions about the reasons behind this change and its potential impact on the platform’s user experience.

Possible Reasons for the Change

1. Content Moderation Policies: X may be adjusting its content moderation policies to better align with its current guidelines or to address concerns related to the visibility of specific symbols. The removal could be part of a broader effort to manage how controversial topics are represented on the platform.
2. Avoiding Polarization: Emojis tied to political or financial movements can polarize users and create divisive content. By removing these emojis, X might be aiming to reduce the platform’s role in amplifying contentious or highly charged discussions.
3. User Feedback and Experience: The decision could also be a response to user feedback. If a significant number of users expressed concerns or discomfort with the display of certain emojis, the platform might have acted to enhance the overall user experience.
4. Brand Image and Public Perception: X, under Elon Musk’s leadership, has been navigating changes to its brand image and public perception. Removing these emojis could be part of a strategic move to align the platform’s symbols with its evolving identity and goals.

Implications of the Removal

1. Impact on Cryptocurrency Discussions: The removal of the Bitcoin emoji could affect how cryptocurrency discussions are visually represented on the platform. This might impact engagement in crypto-related conversations or shift how users tag and share content related to digital assets.
2. Political Symbolism and Engagement: The MAGA emoji’s removal may influence political discourse on the platform. Users who previously used the emoji to express political support or opinions might need to find alternative ways to convey their messages.
3. Platform Dynamics: Changes to emoji usage can affect how users interact with and perceive the platform. The removal of these symbols could lead to shifts in how hashtags are used and discussed, potentially altering the dynamics of online conversations.
4. Transparency and User Trust: The decision to remove these emojis without prior announcement might raise questions about transparency and user trust. Clear communication about changes to platform policies and features is essential for maintaining user confidence.

Conclusion

Elon Musk’s X’s quiet removal of Bitcoin and MAGA emojis from hashtags reflects the platform’s ongoing efforts to manage content and shape user experience. While the exact motivations behind this move remain speculative, its implications for cryptocurrency and political discussions on the platform are noteworthy.

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Big Tech Rotation: A Strategic Shift

The era of explosive growth for big tech companies—such as Apple, Microsoft, and Amazon—seems to be facing a pivotal moment. For several years, these giants have driven market performance, attracting substantial investor interest. However, recent trends suggest a significant rotation away from big tech stocks. This shift is driven by several factors:

1. Valuation Concerns: After years of soaring stock prices, many big tech companies are now perceived as overvalued. As growth rates normalize and competition increases, investors are reassessing the long-term prospects of these tech giants.
2. Sector Diversification: Investors are diversifying their portfolios by shifting investments to other sectors that may offer better growth opportunities. Sectors such as renewable energy, healthcare, and financial technology are increasingly attracting attention as they present potential for strong future performance.
3. Economic Uncertainty: Broader economic factors, including interest rate changes and inflation concerns, are influencing investment strategies. With rising rates potentially impacting tech companies’ borrowing costs and future earnings, investors are seeking more stable or growth-oriented alternatives.
4. Innovation Beyond Tech: As new technologies and innovations emerge, investors are looking beyond established tech giants to invest in cutting-edge startups and emerging technologies that may offer higher returns.

Japanese Yen: Currency Fluctuations and Market Impact

The Japanese yen has been experiencing notable fluctuations recently, reflecting broader economic conditions and geopolitical events. Key aspects of its current dynamics include:

1. Economic Policy and Interest Rates: The Bank of Japan’s monetary policy and interest rate decisions significantly impact the yen’s value. Recent policy adjustments, including the potential for rate changes, have led to increased volatility in the currency markets.
2. Global Economic Influences: Global economic conditions, including trade relations and international capital flows, affect the yen’s strength. As Japan navigates its economic challenges and global trade dynamics, the yen’s value continues to fluctuate.
3. Safe-Haven Status: The yen is traditionally considered a safe-haven currency. During periods of global economic uncertainty or market stress, investors often turn to the yen as a refuge, which can impact its value and volatility.
4. Inflation and Deflation: Japan has faced persistent deflationary pressures in recent years. The country’s efforts to combat deflation and stimulate economic growth are key factors influencing the yen’s movements and overall stability.

Bitcoin: Navigating the Digital Frontier

Bitcoin remains a focal point of interest in the financial world, with ongoing discussions about its market impact, regulatory environment, and future potential. Key considerations include:

1. Market Volatility: Bitcoin continues to exhibit significant price volatility, driven by factors such as market sentiment, regulatory news, and macroeconomic events. This volatility presents both risks and opportunities for investors.
2. Regulatory Developments: The regulatory landscape for cryptocurrencies is evolving rapidly. Governments and regulatory bodies are increasingly scrutinizing Bitcoin and other digital assets, which can influence market behavior and investor confidence.
3. Adoption and Integration: Bitcoin’s adoption by institutional investors and its integration into traditional financial systems are important factors driving its value. Growing acceptance and use cases for Bitcoin contribute to its long-term growth prospects.
4. Technological Advancements: Ongoing technological developments, such as improvements in blockchain technology and scalability solutions, play a crucial role in Bitcoin’s future. Innovations that enhance Bitcoin’s functionality and security can impact its market performance.

Conclusion

The financial landscape is in a state of flux, with significant developments in big tech rotation, currency dynamics, and digital assets. The rotation away from big tech stocks reflects a broader search for value and growth in different sectors. Meanwhile, the Japanese yen’s fluctuations highlight the complex interplay between economic policies and global market conditions. Bitcoin, with its ongoing volatility and evolving regulatory environment, continues to be a central topic of interest for investors.

The post Big Tech Rotation, Japanese Yen, and Bitcoin: Key Insights appeared first on Money Guide.

Nelson highlighted a notable change in how financial advice is sought, noting that younger individuals are increasingly turning to influential crypto figures on social media rather than traditional advisors. He pointed out that personalities like Aaron Williams from Bitcoin Bros are becoming key sources of guidance for these new investors.

Nelson remarked on this shift, stating, “Let’s face it, many people, particularly younger ones, are bypassing financial advisors in favor of platforms like Bitcoin Bros and Altcoin Daily.” He then asked Williams about his perspective on Bitcoin’s future and its potential to achieve major price milestones by year-end.

Williams acknowledged the market’s volatility but expressed optimism. He indicated that while predicting short-term price movements is challenging, it is feasible for Bitcoin to reach $90,000 to $100,000. This aligns with other analysts’ forecasts, such as Sean Farrell from Fundstrat, who has suggested Bitcoin could potentially hit $125,000 this year.

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Mark Cuban, the billionaire entrepreneur and investor with a net worth of $5.4 billion as of 2024, has indicated that increased backing for former President Trump in Silicon Valley might be a strategic move towards Bitcoin adoption by Big Tech. Cuban pointed out that the U.S.’s geopolitical influence is being questioned, and potential future tax cuts promised by Trump could exacerbate inflationary pressures.

He suggested that these factors could potentially drive Bitcoin’s price higher. However, Cuban emphasized that while these outcomes are possible, he is not making definitive predictions.

In Venezuela, widespread economic challenges including sanctions, government corruption, and hyperinflation have led many citizens to turn to cryptocurrencies for financial relief. By 2023, digital assets represented 9% of total remittances sent to Venezuela, highlighting the appeal of cryptocurrencies due to their lower transaction costs and faster settlement times compared to traditional fiat remittance services.

Similarly, in Argentina, where inflation has soared to an annual rate of 276%, many people have increasingly adopted digital currencies. This trend underscores the growing acceptance of cryptocurrencies as a response to severe inflation and geopolitical uncertainties, positioning them as viable alternatives to conventional financial systems.

The post Billionaire Mark Cuban Suggests Bitcoin Could Become a Global Reserve Asset appeared first on Money Guide.

Traders are anticipating that Bitcoin might climb to $70,000, driven by a more favorable macro environment and the possibility of a crypto-friendly U.S. administration under Donald Trump.

Diminished selling pressure from major wallets and a more promising political climate for the crypto industry have fueled this bullish sentiment, despite ongoing volatility and concerns about Mt. Gox repayments.

Bitcoin (BTC) traders are predicting that prices could reach $70,000 in the near term, as positive sentiment towards the broader crypto market grows ahead of the U.S. elections and selling pressure from significant wallets decreases.

Lucy Hu, a senior analyst at Metalpha, told CoinDesk, “The recent rebound in Bitcoin’s price indicates a more optimistic outlook for the near-term macro environment. Market confidence was bolstered by Trump’s vice presidential pick, suggesting a more crypto-friendly administration and policies.”

Hu also noted that “BTC could trend around the 120-day moving average and potentially rise to $68,000 or even $70,000. However, we need to closely monitor Fed policies and the implications of Mt. Gox.”

The 120-day moving average is a technical indicator that helps identify long-term price trends.

Bitcoin has experienced significant price fluctuations recently, falling to $53,500 in early July due to Mt. Gox’s bitcoin repayments, which triggered bearish forecasts.

However, recent developments have shifted the outlook. Wallets associated with the German state of Saxony have liquidated their Bitcoin holdings, and Trump’s supportive stance on crypto has reignited optimism. Trump’s choice of Ohio Senator JD Vance, known for his pro-crypto views and previous Bitcoin holdings, as his 2024 running mate has further fueled hopes for a more favorable regulatory environment.

Nick Ruck, head of growth at BitU Protocol, shared in a Telegram message, “The shifting perspective on digital assets in the U.S. is creating expectations for more favorable Bitcoin and crypto policies as the elections aim to attract single-issue voters and special interest groups.”

He added, “There is also reduced expected sell pressure in the long term as Mt. Gox continues to distribute funds to creditors.”

According to Polymarket, the odds of Trump winning the 2024 election have increased to 69% from 60% over the past week.

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Deribit is set to list new options for Bitcoin (BTC) and Ether (ETH) that will expire four days after the U.S. presidential elections on November 4. This new offering has been well-received by traders, who see it as a useful tool for managing risk and protecting capital amid the anticipated volatility surrounding the election.

The new options, which are specifically tied to the outcome of the elections, have been praised by market participants. Jeff Anderson, a senior trader at STS Digital, highlighted that the U.S. election represents a significant event for risk assets, including cryptocurrencies. He explained that options are crucial for hedging against the uncertainties that such binary events introduce, making Deribit’s decision to offer these options a logical one.

The upcoming election is particularly significant for cryptocurrencies. Republican candidate Donald Trump has recently shown support for digital assets, diverging from his opponent, incumbent Joe Biden. While Trump has not yet detailed his crypto regulatory plans, his engagement with Bitcoin miners and his upcoming appearance at a Nashville conference have earned him favor within the crypto community. This has positioned BTC and the broader market as potential beneficiaries of his presidency.

Given this backdrop, Bitcoin and Ether are expected to experience heightened price volatility around the election period. As a result, traders are increasingly focused on using derivatives like options to hedge their positions. Options provide a way to manage risk by offering protection against both upward and downward price movements in the underlying assets.

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StarkWare, the prominent developer behind the Starknet network on Ethereum, has provided a preview of OP_CAT’s potential on Bitcoin. Using a testing environment called Signet and leveraging OP_CAT, StarkWare showcased how zero-knowledge proofs—advanced cryptographic techniques used for data compression or validating statements without revealing sensitive information—could be implemented on Bitcoin.

The goal of this demonstration was to highlight OP_CAT’s capabilities, which are proposed to bring Ethereum-style smart contract programmability to Bitcoin—a feature traditionally absent from Satoshi Nakamoto’s original peer-to-peer payment system.

Despite its promising aspects, OP_CAT is still in the preliminary phase of gaining the necessary consensus for inclusion in Bitcoin’s core protocol. StarkWare has publicly supported the proposal, citing its potential benefits for both the Bitcoin community and the broader blockchain ecosystem.

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July 17: IoTeX is unveiling its 2.0 platform aimed at accelerating the development of decentralized physical infrastructure projects (DePIN). Partnering with NEAR, Filecoin, RISC Zero, and Espresso, IoTeX 2.0 seeks to enhance data availability, storage, computation, and sequencing. The platform introduces DePIN Infrastructure Modules (DIMs) and a Modularity Security Pool (MSP), designed to lower development costs and support sustainable growth for DePIN projects. The MSP allows DePIN layer-1s to restake their Proof-of-Stake security to DIMs, thereby promoting ecosystem growth and sustainability. This development positions IoTeX as a leading decentralized hub for devices and data managed by both human and AI agents.

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