The Scenario That Could Drive BTC Up to $4.8 Million

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11 months ago

Bitcoin’s upper mint limit is 21 million coins. Well, 19 million of them have already been mined. The cool thing about bitcoin economics is this built-in scarcity. As the cryptocurrency gets closer to its 21 million limit, its price keeps going up. A spokesman for VanEck, a U.S. investment firm, says bitcoin could rise to somewhere between $1.3 million and $4.8 million per coin if it is adopted as the global reserve currencyThat’s a big “if,” Jack.

Ethereum’s co-founder Vitalik Buterin praises bitcoin maximalismWas it a joke?

The European Union parliament has voted to bust through bitcoin’s privacy walls. That little kick in the shins got MetaMask and Coinbase leaders riled up. Coinbase CEO Brian Armstrong perched his hands on his hips, puckered his lip, and said, “Well, that sucks!” Such measures are likely to lead to an increase in activity on decentralized exchanges.

Binance won a major victory against the SEC Thursday by having its lawsuit alleging securities law violations tossed out of court. The exchange is getting pushback from its users, but what is the fuss about? And it may soon settle down and a get a wifeThink she will be the U.S.?

Elizabeth Warren wants to create a central bank digital currencyScared yet? Ted Cruz says “Hell no!” He’s afraid of surveillance.

CoinTelegraph says traditional media is missing the point of DAOs. Why should that surprise anyone?

Should Tether’s shrinking cash reserves worry investors?

Circle picks BNY Mellon as custodian for USDC reserves.

Who are the top 100 crypto influencers (according to CoinTelegraph)? Some of them aren’t people. Want to make your own metaverse? These pioneers will show you how. But you should know that metaverses aren’t all roses and popcorn. Some avatars found that out after a raucous party ended in a virtual police raid. The upside? Damaged NFT avatars could be worth more.

The Ripple vs. SEC drama deserves its own documentary. Now, it will have one. Thanks to MContent and PwC Middle East, the documentary will launch into the metaverse.

Cardano’s metaverse has more than 22,000 landholders.

Sir John Hargrave asks, “Can decentralization be taken too far?” (A doggone good read)

1 in 5 adults have done something with crypto. Is that news?

Mattel has issued a second Hot Wheels Garage NFT series on WAX. Want to issue your own WAX NFTs? Here’s your complete NFT guide to airdrops on WAX.

Solana is moving up in the world. Last November, Brave announced they would integrate Solana into its browser. Now OpenSea is planning its own Solana integration.

ShapeShift DAO honors women artists with NFT auction.

India is waiting on global consensus before framing crypto law.

APPICS social media app is preparing for Web3 integration.

Snark and commentary in italics.

Cryptocracy is a decentralized newsletter published 4 times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.

First published at Cryptocracy. Not to be construed as financial advice.

Image credit: Alien Worlds via CoinTelegraph

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11 months ago