Bill Miller IV, chairman and CIO of Miller Value Partners, has explained why bitcoin is undervalued despite the cryptocurrency’s recent highs. He emphasized bitcoin’s potential as a revolutionary monetary system superior to fiat currencies, which are subject to human control and debasement. Miller believes bitcoin’s market cap has room for substantial growth. ‘I Believe Bitcoin […] Source CryptoX Portal
The Industrial and Commercial Bank of China (ICBC), the world’s largest bank by total assets, recently compared bitcoin to digital gold and labeled Ethereum “digital oil” in a report. The bank emphasized the roles of these cryptocurrencies in the digital economy and their contributions to technological advancements. ICBC Sees Bitcoin as Digital Gold, Ethereum as […] Original
A recent Bitfinex Alpha report shows a shift in Bitcoin ownership. Short-term investments surge, driven by the popularity of spot Bitcoin ETFs, while long-term holders remain confident in the market. Recently, there has been a notable change in Bitcoin (BTC) ownership in the crypto market, especially among short-term holders. Short-term Bitcoin investors, meaning those typically holding Bitcoin for less than 155 days, have significantly increased their activity. Their combined holdings rose from 2.2 million BTC in January to more than 3.4 million BTC by mid-April — that’s nearly a 55%…
Donald Trump announced on Tuesday that he wants all remaining bitcoin (BTC) mined in the United States, citing the country’s potential to dominate the energy sector. In a late-night post on Truth Social, the Republican presidential candidate expressed the sentiment that Bitcoin mining may be the country’s last line of defense against a Central Bank Digital Currency (CBDC.) Due to these comments, Bitcoin mining stocks had a great day in the markets on Wednesday. TeraWulf (WULF) jumped by nearly 20% at one point and settled into 10% intraday gains. Hut…
In a major milestone for Ethereum and layer-2s, Optimism, a layer-2 scaling platform for the second most valuable network, has announced the activation of open source and permissionless fault proofs. Even though the platform manages over $7 billion of assets, according to L2Beat, Optimism, like most optimistic rollups, lacked a way of trustlessly verifying transactions. It relied on a centralized sequencer and fraud-proof system for this function. Optimism TVL | Source: L2BEAT Optimism Activates Trustless Fraud-Proof System Activating the open-source fault-proof system is crucial to creating a more decentralized and…
Bitwise’s Senior Crypto Research Analyst, Juan Leon, predicts a transformative impact on the global economy as artificial intelligence (AI) and cryptocurrency converge, potentially adding $20 trillion to the global Gross Domestic Product (GDP) by 2030. AI and Crypto — The Trillion-Dollar Synergy Leon’s bold forecast was emphasized at the recent Consensus conference in Austin, which […] Source CryptoX Portal
Many see it as frankly embarrassing to be buddying up with any politician, putting aside Trump’s Napoleonic sized ego. Bitcoin writer and privacy advocate L0la L33tz, for one, wrote a whole essay about the subject, arguing that politicians cannot be trusted, that Trump failed to deliver on many of his previous campaign promises, and that Bitcoin doesn’t really even need political support. Original
Crypto analyst Eljaboom has provided insights into how Shiba Inu (SHIB) could rise in this bull run. The analyst alluded to history to show that the second-largest meme coin by market cap can still reach unprecedented heights. Shiba Inu To Reach $0.00024 In This Bull Run Eljaboom suggested in an X (formerly Twitter) post that Shiba Inu will rally by over 1,000% to reach $0.00024 in this bull run. This came following his remarks that history was repeating itself for SHIB. The accompanying chart he shared showed that the analyst…
The Artificial Superintelligence Alliance (ASI) announced its token merger would be postponed to next month after presenting logistical and technical issues. The alliance was set to merge Fetch.AI (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) into the ASI token on Thursday. As a result, the three AI tokens faced a 4% drop in the last 24 hours. Related Reading ASI Token Merger Postponed To July In March, Fetch.AI, SingularityNET, and Ocean Protocol, three leading AI blockchain projects, revealed their plan to merge into the ASI token. This move aims to…
MISSING TOOTH FILLED IN: Optimism, the Ethereum layer-2 project, provides the technological foundation for some of the biggest names in blockchain, including the Coinbase exchange’s popular Base blockchain and Worldcoin’s World Chain, from OpenAI founder Sam Altman. But for years, blockchains that used Optimism’s technology were built according to a false underlying premise: that they “borrowed” Ethereum’s security apparatus. In reality, it wasn’t the case, because they lacked a crucial piece of functionality known as “fault proofs” – used to challenge actors suspected of malicious behavior. On Monday, that long-promised…