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↝ Bitcoin Braces for Shake-up: The Trump Effect and the Ripple Effect

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Bitcoin Braces for Shake-up: The Trump Effect and the Ripple Effect
Donald Trump has raised more than 4$ million in bitcoin and other digital currencies. Jersey City, following suit, plans to invest in Bitcoin ETFs, becoming the latest pension fund to enter the crypto sector. Furthermore, ETFs seem to be gaining traction on Wall Street, securing a hefty $17 billion in Bitcoin. Mining company MARA has acquired $100 million worth of Bitcoin, and their holdings now amass more than 20,000 BTC. Bitcoin's future valuations have elicited speculation with estimates ranging from a global medium of exchange and reserve asset status by 2050. Texas' energy center is attracting Bitcoin miners due to their heavy power needs. However, Ethereum is being touted as a confident buy after Bitcoin's halving. Bitcoin's resilience despite tech stock plunges and Bitcoin's potential low valuation is being inspected skeptically, especially after the US tech sell-off resulted in $300 million in losses. The expected rebound aligns with Trump's upcoming 'historic' crypto speech. With Trump's public commitment to Bitcoin along with rumors of China unbanning Bitcoin and possible legislation for Strategic Bitcoin Reserve, the Bitcoin market braces for a host of potential outcomes, positive or negative.

Bitcoin News Analytics from Tue, 16 Jul 2024 07:00:00 GMT to Thu, 25 Jul 2024 21:27:47 GMT - Rating -1 - Innovation 4 - Information 7 - Rumor 3

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