* MicroStrategy is an enterprise software company that holds billions of dollars of Bitcoin on its balance sheet. Publicly traded companies with significant exposure to Bitcoin have been experiencing notable price declines. The stock prices on Monday of both Coinbase Global, Inc. (COIN) and MicroStrategy Incorporated (MSTR) declined by more than 15% at their session lows
* As as Bitcoin matures and becomes more widely adopted, the price of Bitcoin is increasingly correlated with the prices of traditional assets like stocks. This growing correlation means that any event that triggers price declines in the traditional markets is likely to trigger similar or greater price declines for Bitcoin.
* Unidentified sources within the Biden administration said last week that the government is developing a strategy to address the economic, regulatory, and national security challenges posed by Bitcoin and other cryptocurrencies. The administration is reportedly also examining the opportunities created by the rise of digital assets, with the Biden administration's strategy potentially being made public as soon as February.
* Gradual belt-tightening by the U.S. Federal Reserve may also be contributing to Bitcoin's price drop.
What does this mean? It mean Bitcoin has the potential to go even lower than it is now.
Horrifying enough, the Federal Reserve released a research report that explores the creation of a digital version of the U.S. dollar. Mention of this threat is sinking crypto currency investment as buyers pull their funds making ready to jump ship to a currency which could promise stability in the volatile market of digital currency futures.
Heh I guess it is true…. Don’t be stuck holding the last brick (digital block-chain) standing in essentially what is still ultimately a pyramid scheme.
By the way notice how Castle 2.0 isn’t responding. Yeah he got out. Probably moved on to scheming with NFTs just like Victor Choas.
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