BTC Will Be An International Currency

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2022-01-04 10:35:06

Starting with information about the crypto market. Bitcoin price has risen slightly to around $62,000. When BTC moves sideways above $60,000, what investors expect is altcoin growth. At the top is ETH, which also increased to around $4,100 and is only about 5% away from the old peak.

Over the weekend, on-chain data showed that BTC as well as ETH were withdrawn from the exchange more despite the price increase. Other on-chain data has not changed much from the previous days.

More good news from investors, institutions who want to invest in crypto and Bitcoin is increasingly attractive.

Senator Rand Paul also shows his confidence in BTC. He said that, as people lose faith in government institutions, Bitcoin could benefit and rise to become the world’s reserve currency. “Government currencies are very unreliable – they are fiat currencies too. They are not supported by anything– According to Mr. Rand Paul.

Senator Paul has never publicly endorsed any cryptocurrency other than Bitcoin to date. He is also the one who accepted BTC donations during the 2016 campaign. So it is assumed that the cryptocurrency Rand Paul refers to here is Bitcoin.

Up to now, the companies or banks that have criticized BTC have almost completely changed and accepted Bitcoin. Major banks in the US or Visa, Paypal have also accepted and provided crypto-related services to their customers. Recently, Master Card partnered with Bakkt to provide Crypto payments to companies and stores that accept Mastercard. This means that companies can enable crypto features through Mastercard without having to understand much about Crypto.

After stopping accepting payments in BTC because BTC is mined with fossil energy, Tesla has signaled a change. In its Q3 report, Tesla said that it may restart crypto trading for its products and services in the future.

Tesla is continuously adjusting its investment strategy to meet liquidity and risk objectives, such as investing in US public bonds and other marketable securities, digital assets. The company also expressed confidence in the long-term potential of digital assets as both an investment and a liquid alternative to cash.

Yesterday, billionaire Anthony Scaramucci says he is holding $1 billion in Bitcoin. And the amount of capital he previously invested was 250 million USD in BTC, that is, the amount of investment has increased four times. Through this share of his, from a marketing perspective, Bitcoin has been attractively promoted with real investment returns.

The growth of BTC as well as the huge profits from the crypto market make companies and even governments unable to stay out. Once again, game theory is here to stay and no company wants to stay out of the way of crypto.

United States Secretary of the Treasury Janet Yellen announced a proposal for a new tax rate that could affect unrealized capital gains. She said the proposal to consider new taxes that would hit the very wealthy had caused a lot of controversy in the past. Many people voiced objections and pointed out the unreasonable points of this proposal. For now, this is just a proposal, we will wait for further information. Thuan believes that this proposal greatly affects the market and especially the rich, so it can be very difficult to be approved.

The year 2021 sees BTC and crypto go deeper and deeper into the economy as well as politics in the United States. Bitcoin and crypto are a topic of discussion in Congress. Many political officials also expressed different views and many supporters. Especially those congressmen in states who want to attract more investment, crypto companies in terms of economic benefits, jobs and taxes for them.

Assets around the world will gradually shift to the younger generation, who are very agile and interested in crypto investment. Therefore, the trend of asset movement will also follow the investment trend of this young generation.

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