Bitcoin reaches $65,000 thanks to rising ETF demand and loose monetary policy by the Federal Reserve
According to Bloomberg Crypto, Bitcoin has reached a price of $65,000 due to increasing demand for exchange-traded funds (ETFs) and indications that the Federal Reserve might ease its monetary policy. ETFs are investment funds traded on stock exchanges like stocks.
Bloomberg Crypto also reported that Toncoin lost approximately $2.7 billion in market value following the arrest of Telegram's CEO Pavel Durov. This news highlights how legal issues can impact cryptocurrencies significantly.
Telegram CEO Pavel Durov arrested at Paris airport – Implications for the crypto world
The Krypto Magazin reports that Pavel Durov, CEO of Telegram, was detained at an airport near Paris over alleged offenses related to his app. The French authorities' actions have raised concerns about potential widespread consequences for both usage and regulation of Telegram.
@100trillionUSD discussed the Stock-to-Flow (S2F) model used for valuing Bitcoin. He emphasized that this model measures scarcity through the ratio between existing supply and annual production rates (@100trillionUSD). Additionally, Nigeria plans to issue licenses for cryptocurrency exchanges soon (@BTC_Archive), marking a significant step towards regulatory clarity in digital currencies within the country.
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