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  • El Salvador to change Bitcoin plans to secure $1.3bn IMF loan

    El Salvador to change Bitcoin plans to secure $1.3bn IMF loan

    • El Salvador would also receive $1 billion in lending from the World Bank and $1 billion from the Inter-American Development Bank
    • Under the IMF agreement, El Salvador would change a legal requirement making businesses accept Bitcoin as payment
    • Since 2021, the IMF has been against El Salvador’s Bitcoin Law, asking the government to “narrow its scope”

    El Salvador is reportedly reducing its Bitcoin ambitions as it gets ready to receive a $1.3 billion loan from the International Monetary Fund (IMF).

    The Financial Times reports that the Central American country, which was the first to accept Bitcoin as legal tender in 2021, is expected to reach a deal in the next few weeks with El Salvador’s President Nayib Bukele’s government.

    The deal is also expected to unlock a further $1 billion in lending from the World Bank and $1 billion from the Inter-American Development Bank over the next few years.

    Under the proposed plans, El Salvador would change a legal requirement making businesses accept Bitcoin as payment, making it optional instead. The government would also reduce the budget deficit by 3.5% of GDP over three years through spending cuts and tax rises while boosting reserves from $11 billion to $15 billion.

    IMF against El Salvador’s Bitcoin adoption

    Following El Salvador’s adoption of Bitcoin in 2021, the IMF sent a statement in November 2021 “recommend[ing] narrowing the scope of the Bitcoin law” while “strengthening the regulation and supervision of the new payment system.”

    This was again called for in January 2022 when the IMF advised El Salvador to reconsider its decision on Bitcoin as the country’s legal tender. More recently, the IMF recommended El Salvador limit the public’s exposure to Bitcoin.

    Despite the advisories, El Salvador and its president remain committed to Bitcoin, going on to buy more of the asset during price dips.

    With Bitcoin reaching $100,000 last week for the first time, Bukele posted a tweet on X, showcasing its Bitcoin balance was now worth more than $600 million.

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  • Amazon shareholders call for the company to hold 5% of its assets in Bitcoin

    Amazon shareholders call for the company to hold 5% of its assets in Bitcoin

    • MicroStrategy’s stock has outperformed Amazon’s stock by 537% in the past year
    • The proposal calls for Amazon to include some Bitcoin to maximize shareholder value without taking on too much risk
    • Last week, Michael Saylor, CEO of MicroStrategy called on Microsoft to adopt Bitcoin, calling it “digital capital”

    A group of Amazon shareholders has requested that the company allocate 5% of its assets in Bitcoin.

    The National Center for Public Policy Research, a free-market, independent conservative think tank, submitted the proposal to Amazon for consideration at its 2025 annual shareholder meeting.

    The proposal, shared by Tim Kotzman, a podcast host covering Bitcoin and MicroStrategy, recommends adding “assets to its treasury that appreciate more than bonds, even if those assets are more volatile short-term.”

    The proposal points to Bitcoin’s price, which has increased more than 131% over the past year, outperforming corporate bonds by more than 126%, on average.

    “MicroStrategy – which holds Bitcoin on its balance sheet – has had its stock outperform Amazon stock by 537% in the previous year,” the proposal said.

    “And they’re not alone. Institutional and corporate Bitcoin adoption is becoming more commonplace: more public companies such as Tesla and Block have added Bitcoin to their balance sheets; Amazon’s second and fourth largest institutional shareholders – BlackRock and Fidelity, respectively – offer their clients a Bitcoin ETF; and the US government may form a Bitcoin strategic reserve in 2025.”

    The proposal points out that while Bitcoin is a “volatile asset,” Amazon’s stock was the same in the past. Because of this, companies have “a responsibility to maximize shareholder value over the long-term as well as the short-term,” adding:

    “Diversifying the balance sheet by including some Bitcoin solves this problem without taking on too much volatility. At minimum, Amazon should evaluate the benefits of holding some, even just 5%, of its assets in Bitcoin.”

    Michael Saylor calls Bitcoin “digital capital”

    The shareholder proposal comes as Michael Saylor, CEO of MicroStrategy, said to Microsoft that Bitcoin is the best asset a company should own, claiming it represents the “greatest digital transformation of the 21st century.”

    In a three-minute video posted on X last week, Saylor said:

    “Microsoft can’t afford to miss the next technology wave, and Bitcoin is the next wave. Bitcoin represents the greatest digital transformation of the 21st century; it represents digital capital.”

    Talking about long-term capital, Saylor noted that risk – including general taxes, politics, recession, regulation, war, and the weather – is destroying over $10 trillion in capital each year.

    Because of this, investors are turning their attention to digital capital, such as Bitcoin, to avoid these risks. In Saylor’s view, “it makes sense” for Microsoft to buy and hold Bitcoin rather than buy back stock or hold bonds.

    “If you’re going to outperform, you’re going to need Bitcoin,” Saylor said. “You’ve surrendered hundreds of billions of dollars of capital over the past five years, and you’ve just amplified the risks that your own shareholders face. If you want to escape that vicious cycle, you’re going to need an asset without counterparty risk.”

    In Saylor’s opinion, that lies with Bitcoin.

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  • What happened in crypto this week

    What happened in crypto this week

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    It’s been another busy week in the crypto market: Virgin Voyages accepts Bitcoin, Donald Trump selects Paul Atkins as next US SEC chair, Coinbase won’t work with anti-crypto law firms, Michael Saylor urges Microsoft to accept Bitcoin, and Bitcoin hits over $100,000 for the first time.

    Let’s look at these and recap what happened this week in crypto.

    Virgin Voyages accepts Bitcoin

    Sir Richard Branson’s cruise line, Virgin Voyages, now accepts Bitcoin as a payment option for bookings.

    In an announcement, Virgin Voyages said passengers can use Bitcoin to pay for cruises across its fleet, including its highly anticipated Annual Pass. Virgin Voyages’ Annual Pass, which provides various exclusive benefits to frequent travelers, is also the first cruise product to accept cryptocurrency payments.

    The company’s move comes as the crypto industry experiences heightened interest from retail and institutional investors, pushing prices to all-time highs. Virgin Voyages is also hoping to attract younger, tech-savvy travelers and digital asset enthusiasts who increasingly use crypto in their everyday lives.

    Donald Trump selects Paul Atkins as next US SEC chair

    US President-elect Donald Trump has nominated pro-crypto Paul Atkins to become the next chair of the US Securities and Exchange Commission (SEC).

    Gary Gensler, the current SEC chair, will step down on January 20 when Trump re-enters the White House. News of Atkins filling the role marks a significant step in fulfilling Trump’s campaign promises to bring regulatory clarity to the crypto industry.

    Atkins, who served as an SEC commissioner under President George W. Bush, has been an outspoken supporter of the crypto industry. The selection of Atkins signals a strong push toward crypto-friendly regulations, something the industry has been lacking under Gensler’s leadership.

    Coinbase won’t work with anti-crypto law firms

    Brian Armstrong, CEO of Coinbase, has said the crypto exchange won’t work with law firms if they hire people who worked against the crypto industry during their time in government.

    In a post on X, Armstrong said it was an “ethics violation” to “try and unlawfully kill an industry while refusing to publish clear rules.”

    Armstrong made his comments after Milbank, an international law firm, recently hired Gurbir S. Grewal as a partner in its New York office’s litigation and arbitration practice. Before, Grewal was the US Securities and Exchange Commission’s (SEC) enforcement head.

    As director of the SEC’s enforcement division, Grewal was responsible for overseeing investigations, enforcement action, and litigation conducted by the SEC. During his time at the SEC, the agency brought over 100 enforcement actions targeting non-compliance in the crypto space.

    Armstrong added: “I don’t believe in permanently cancelling people, but we as an industry should not be putting money in their pocket after the abuse.”

    Michael Saylor urges Microsoft to accept Bitcoin

    The CEO of MicroStrategy has told Microsoft that Bitcoin is the best asset a company should own, claiming it represents the “greatest digital transformation of the 21st century.”

    In a three-minute video on X, Saylor tagged Satya Nadella, Microsoft’s chair and CEO, and its board of directors, saying:

    “Microsoft can’t afford to miss the next technology wave, and Bitcoin is the next wave. Bitcoin represents the greatest digital transformation of the 21st century; it represents digital capital.”

    Saylor added that if Microsoft wants to outperform, it’s going to “need Bitcoin,” adding:

    “You’ve surrendered hundreds of billions of dollars of capital over the past five years, and you’ve just amplified the risks that your own shareholders face. If you want to escape that vicious cycle, you’re going to need an asset without counterparty risk.”

    In Saylor’s opinion, that lies with Bitcoin.

    Bitcoin hits over $100,000 for the first time

    On December 5, Bitcoin reached the psychological level of $100,000 for the first time, continuing its bull run since the beginning of November.

    The last time it got within touching distance of the landmark level was on November 22 when it topped more than $99,000. Data from CoinMarketCap showed it reached a high of $103,500.

    Factors pushing Bitcoin to new heights included President-elect Donald Trump nominating pro-crypto Paul Atkins as the next US SEC chair.

    At the same time, Ethereum broke past $3,900. Crypto analyst Miles Deutscher says Ethereum will lead utility coins up. He also sees Bitcoin’s rally as great news for altcoins.

    “The higher #Bitcoin goes, the bigger the altcoin run will be,” the analyst noted.

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  • 2024 saw crypto markets dramatically mature

    2024 saw crypto markets dramatically mature

    2024 was a landmark year for the cryptocurrency market. It was a year when the market matured, barriers to the institutional investing world came down, and international regulations started to pave the way for digital currencies to enter the mainstream global financial system. 

    With a President-elect keen on making the US a global crypto hub, the market experienced significant growth. As crypto adoption rose, more users turned to crypto platforms and ETFs to invest. 2024 was a transformative experience for the crypto market and the blockchain technology that powers it. 

    The general public, buoyed by positive sentiment and rising crypto prices, has flocked to DeFi platforms to download their first wallet. Many of those new users have found their way to the highly trusted crypto brand Binance.

    It takes a leader to help an industry continue to mature and Binance CEO Richard Teng has taken on that role throughout 2024’s massive growth. Teng commented on his leadership and the future, “we have served in the best interests of our users since day one, leading the industry’s standard and continue building the future of the industry responsibly.”

    Binance accounts for approximately 50% of all trading volume globally. This number has only increased from Jan-Nov 2024. During the 2024 US Presidential election week, Binance captured $7.7 billion out of the $20 billion total inflows across all exchanges. Combine that with the leading crypto exchange reaching a new milestone surpassing 200 million users and safeguarding over $130 billion in user assets.

    So, these are exciting times for the crypto industry that come off the back of a lot of hard work in 2024. The highlights of the year included: 

    Institutional Involvement and Widespread Adoption

    In 2024, BlackRock launched its spot Bitcoin ETF IBIT, before bringing options to the table on November 19th 2024, and broke all the records on day one with 354,000 contracts traded and $1.9 billion in notional value. This was a landmark moment for the crypto industry, but it came at the end of a year of institutional investment. 

    Pension funds, hedge funds, and sovereign wealth funds have worked hard into crypto this year as they try to take advantage of the growth potential and protect against problems with fiat currency. They follow on the heels of Goldman Sachs, Morgan Stanley, and Fidelity Investments, who all offer Bitcoin as part of their Wealth Management services.

    Institutional investment has curbed market volatility, and this year, Bitcoin emerged as one possible protection against inflation. New clarity with the regulations, improved custody solutions, and advanced risk management frameworks all gave the institutions the confidence to jump into crypto feet first in 2024. 

    The Rise and Rise of DeFi

    Decentralized Finance (DeFi) is changing the world we live in and providing a real alternative to traditional banking. The world’s unbanked poor and privacy-obsessed High Net Worth Individuals alike have discovered the delights of downloading a crypto wallet and sending money with low fees and no questions. 

    According to one recent study, the global DeFi market should be worth almost $440 Billion in 2030, up from just over $20 billion in 2023. 

    We can now tokenize any asset, from real estate and fine art to cars and stocks, to create more liquidity without the help of a traditional bank. This is opening up new methods of borrowing, saving, lending, and earning interest that put the power in the hands of the people.

    Unbanked individuals around the world can have access to basic financial services, including sending and receiving money from friends or families, without huge fees. We are also seeing an ecosystem of liquidity pools and borrowing facilities open up that can change the world of finance. 

    Retail Market Integration

    In the background, the Web3 technology that underpins the crypto market has found a home with DeFi platforms, as well as retail and e-commerce. Blockchain technology is now the foundation of supply chain management, healthcare providers, and numerous company processes. If the blockchain continues to take over corporate and public life, then the tokenized crypto ecosystem has to go with it. 

    Retailers are increasingly relying on the blockchain, with Starbucks using it to trace their coffee from the farm to the cup and Nike tokenizing each pair of sneakers on its Swoosh platform for authenticity and traceability.

    In October 2023, Ferrari started accepting crypto payments for its high-end sportscars, joining the likes of Tesla, PayPal, Shopify, and Microsoft. This is a slow process, but crypto has slowly acquired the social proof it requires to break through with mainstream retailers. The blockchain that forms its foundations and is becoming such a mainstream hit was an unexpected bonus. 

    Regulatory Frameworks: Chaos to Clarity

    Fragmented regulations that change from country to country are terrible for the crypto industry, and 2024 was the year it finally got its house in order. The Financial Stability Board, International Monetary Fund, and World Economic Forum helped guide disparate countries towards one set of standard practices for crypto taxation, Anti Money Laundering compliance, and consumer protection. A simple foundation of regulations that works across borders could work wonders for the industry. We’re not there yet, but we are getting closer. 

    Technological Advancements Driving Maturity

    It isn’t just the political landscape that had to change to give the crypto market a shot at mass adoption. Real technical issues with the early blockchain systems kept them as a niche interest rather than an everyday occurrence. 

    Blockchain congestion, slow transactions, high energy consumption, and scalability were all real issues. Ethereum 2.0 and Layer 2 solutions mean that Ethereum, the most ubiquitous blockchain by far when it comes to dApps and Web3 technology, is now much more scalable, with lower fees and less blockchain congestion. Solana and alternative blockchains like BNB Smart Chain also offer alternative solutions, with blockchain bridges seamlessly connecting the networks.

    AI integration has already changed the world of trading, analytics, risk management, and supply chain management. Artificial Intelligence has unlocked another level of performance from Web3 technology and automated complex processes that can streamline almost any company. 

    Conclusion

    These factors have all combined to create a market that is ready, willing, and waiting for mass adoption. Institutional adoption, regulatory clarity, cultural acceptance, and technical improvements have all helped the cryptocurrency industry go from a sideshow to a central player in 2024. We have not seen anything yet, and next year could be the biggest yet. 

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  • Donald Trump names David Sacks as “AI and crypto czar”

    Donald Trump names David Sacks as “AI and crypto czar”

    • David Sacks is the former PayPal COO and founder of Yammer, a SaaS company
    • He will work on a legal framework providing the crypto industry with the clarity it wants

    US President-elect Donald Trump has announced that David Sacks will be the lead policy advisor on artificial intelligence and crypto, dubbing him the “White House AI and Crypto Czar.”

    In a post on his social media platform Truth, Trump wrote that Sacks will take up the role which are “two areas critical to the future of American competitiveness,” adding, among other things, that “he will work on a legal framework so the crypto industry has the clarity it has been asking for, and can thrive in the US.”

    As part of his role, Trump added that David will focus on making America a “global leader” in these areas, something Trump promised during his election campaign in August.

    During the US election, Trump has focused more on being pro-crypto, and became the first US president to use the Bitcoin network. He achieved this after sending a Bitcoin transaction at PubKey, a crypto-themed bar in New York ahead of his campaign rally in Long Island in September.

    Since winning the election in November against current vice president Kamala Harris, Trump has been appointing pro-crypto candidates for his administration before he enters the White House next month.

    Earlier this week, Trump named pro-crypto Paul Atkins as the next chair of the US Securities and Exchange Commission (SEC), helping push Bitcoin to over $100,000 for the first time. Trump also has Tesla CEO Elon Musk and entrepreneur Vivek Ramaswamy leading the Department of Government Efficiency (DOGE) to “dismantle government bureaucracy.”

    Musk, who was a familiar face during Trump’s election campaign, is reported to have donated over $250 million to Trump’s campaign, reports the Financial Times.

    Elsewhere, in November, Trump named Howard Lutnick, CEO of Cantor Fitzgerald, a financial services firm, as the US Commerce Secretary.

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  • CryptoQuant places Bitcoin’s cycle peak at $146,000 as Ethereum enters ‘second bull market’; which undervalued crypto will lead the next bull run?

    CryptoQuant places Bitcoin’s cycle peak at $146,000 as Ethereum enters ‘second bull market’; which undervalued crypto will lead the next bull run?

    The ongoing bull cycle has caused a notable rise in activity in the crypto market. For Bitcoin, CryptoQuant projects a $146,000 cycle high. In the meantime, the firm predicts Ethereum to follow a historical pattern in its MVRV Ratio to enter a second bull market. Despite the positivity in the top two cryptocurrencies, a growing number of investors are rushing into Rexas Finance instead. At just $0.125, many analysts believe this undervalued crypto could lead the next bull market run.

    CryptoQuant Projects $146,000 for Bitcoin Cycle Peak

    According to crypto-analytic outfit, CryptoQuant, Bitcoin’s price cycle could peak at around $146,000. The firm claims to get this projection from the average acquisition cost of Bitcoin across the network—the realized price valuation. With Bitcoin reaching comparable highs in 2021, the realized price has been a decent gauge of market cycle peaks. Meanwhile, several macroeconomic events, institutional adoption’s ongoing upward momentum, and Bitcoin ETF interest might drive BTC above $146,000 this cycle. It is important to note that Bitcoin’s path is rocky. Geopolitical conflicts and unfavorable legislation, among other market elements, could possibly stop Bitcoin from reaching the projected high.

    BTC trades at $95,685 as of this writing, down just 2% over the previous day. Should the crypto market remain favorable, Bitcoin’s ascent might quicken, dragging Ethereum and other altcoins behind it.

    Ethereum Enters ‘Second Bull Market’

    According to a CryptoQuant analyst, Ethereum’s second bull market appears to be in shape. The forecasts show that at $4,000 in Q1 2024, the second bull run will be noticeably more dramatic than the first. The analyst pointed to a similar MVRV Ratio in the Ethereum price chart. During the year’s first quarter, the indicator surged to a really high level as the price surge was in progress. However, the indicator cooled back down in the bearish consolidation that followed the run, returning to the neutral 1 level.

    The MVRV Ratio has once more reversed upward with the most recent increase in cryptocurrencies. Interestingly, the quant on the chart also observed this trend during the previous two bull markets. Both runs comprised two periods in which the Ethereum MVRV Ratio peaked, and a cooldown occurred in between. ETH trades at $3600 as of this writing, a 2% drop over the last day. Analysts project Ethereum may end this period above $10,000. 

    Rexas Finance (RXS): The Undervalued Altcoin Set to Lead the Next Bull Run

    In the heart of Ethereum’s second bull market and Bitcoin’s expected rise, Rexas Finance is an undervalued cryptocurrency that could lead the next altcoin boom. By tokenizing real-world assets (RWAs), Rexas Finance is revolutionizing asset management with liquidity, global access, and fractional ownership. Rexas Finance opens up previously closed markets by turning illiquid assets like real estate, commodities, and art into digital tokens. With a few RXS tokens, a user can acquire fractional ownership of these highly valued assets from anywhere in the world, removing the high entry costs and geographic restrictions commonly seen in traditional sectors. 

    The project’s presale went quickly. Rexas Finance sold 290 million RXS tokens and raised $20.75 million in the first eight presale phases in three months. In Stage 9, the token price is $0.125 and predicted to rise to $0.150. With its fast presale, Rexas Finance is drawing attention. After the presale, RXS will be listed on at least three of the top 10 cryptocurrency exchanges, increasing its liquidity and market exposure. Rexas Finance’s platform offers new and existing users unique value with many features. Regardless of technical ability, anyone may construct digital tokens with the Rexas Token Builder. Rexas Launchpad fosters innovative blockchain ventures, while Rexas GenAI generates unique digital artworks using AI to make NFTs easier to develop. These technologies and Rexas Finance’s focus on security and compliance make it a user-friendly and powerful asset tokenization solution. 

    The Rexas Finance ecosystem encourages transparency and security. The platform’s Certik audit, which verifies smart contracts and code security, increases investor confidence. The project’s recent placement on CoinGecko and CoinMarketCap gives investors easy access to performance information and analysis, boosting its reputation. The project has huge market potential and price potential, enough to lead the next bull cycle. Real estate is worth $379.7 trillion, art and collectibles $65 billion, and financial assets $486 trillion. Rexas Finance plans to enter these massive markets by offering fractional ownership and tokenized access to these assets, giving common investors additional global market possibilities. The presale’s quick growth shows growing interest in tokenized real-world assets, and Rexas Finance is well-positioned to lead the next bull run with lower transaction costs and higher liquidity. 

    Conclusion

    With Bitcoin forecast to reach $146,000 and Ethereum’s second bull market underway, the next major cryptocurrency rise may be imminent. By tokenizing assets, Rexas Finance is becoming a serious challenger. Its speedy presale and rapid crypto growth make it a great investment for those looking to capitalize on the next round.  And what is more? Rexas Finance is running a $1 million giveaway, with the top 20 participants winning $50,000 worth of RXS. Jump on the project now to increase your chance of winning. 

    For more information about Rexas Finance (RXS) visit the links below:

    Website: https://rexas.com

    Win $1 Million Giveaway: https://bit.ly/Rexas1M

    Whitepaper: https://rexas.com/rexas-whitepaper.pdf

    Twitter/X: https://x.com/rexasfinance

    Telegram: https://t.me/rexasfinance

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  • Bitcoin’s journey to $120,000 could lift Solana to $624 and ignite a rally to $6.50 for this $0.125 SOL competitor

    Bitcoin’s journey to $120,000 could lift Solana to $624 and ignite a rally to $6.50 for this $0.125 SOL competitor

    Bitcoin’s impressive climb towards $120,000 is set to create ripples across the crypto market, with Solana (SOL) projected to surge to $624 according to some analyst forecasts. Amid this rally, Rexas Finance (RXS), a rising competitor to SOL, could offer a golden opportunity for investors. Currently priced at just $0.125, RXS could be primed to ride the market wave, potentially reaching $6.50 as its innovative tokenization solutions gain traction. With its Certik audit and upcoming Tier 1 exchange listings, RXS stands out as a low-cost altcoin with massive growth potential. 

    Rexas Finance (RXS)

    Solana (SOL) competitor Rexas Finance is the user’s gateway to the future of asset management. Rexas Finance enables users to own or tokenize digitally any real-world asset, from real estate to commodities, on a worldwide scale. With Rexas Finance, users can gain a market with endless asset investment opportunities.

    Rexas Token Builder: It is normally used to tokenize their real-world assets and commodities. To make it easy for individuals to get digital ownership and offer access to the global market.

    Rexas Launchpad: This feature helps the asset owners raise funds for their tokenized assets, offering liquidity and new investment options for the crypto users.

    Rexas Estate: The project’s one of the most exciting features is Rexas Estate which enables crypto users to co-own the real-world assets and earn passive income in stablecoins.

    Rexas GenAI & DeFi: It is mainly utilized by artists who can use Rexas GenAI to develop and tokenize digital artworks, while Rexas DeFi allows users to swap digital assets across multiple networks with ease.

    Rexas Treasury: A multi-chain yield optimizer that enables users to earn compound interest on their crypto deposits, which adds one more layer of financial utility to the project.

    Furthermore, Rexas Finance began the presale of the native token RXS on September 8, 2024. The total supply of RXS tokens is 1 billion. Rexas project has raised over $21.7M until now, with 90% of the 9th presale stage over. This event is important for the platform as it allows early investors to engage in what might turn into a revolutionary solution for RWA tokenization.

    Rexas Finance’s $1M Giveaway is live, offering a huge chance for early adopters to join the project’s growth. With a current token price of $0.125 and a projected listing price of $0.20 indicate a good opportunity for investors. Moreover, Rexas Finance has been listed on CoinMarketCap and CoinGecko. Furthermore, Rexas Finance (RXS) has the potential to be listed on Top 3 Tier 1 exchanges. Rexas Finance’s security is validated by a rigorous audit conducted by Certik. 

    About Rexas Finance (RXS)

    Rexas Finance is the users’ gateway to the future of asset management. Rexas allows users to own or tokenize virtually any real-world asset, from real estate and art to commodities and intellectual property worldwide. With Rexas, users gain access to a world where asset liquidity and investment choices are boundless.

    For more information about Rexas Finance (RXS) visit the links below:

    Website: https://rexas.com

    Win $1 Million Giveaway: https://bit.ly/Rexas1M

    Whitepaper: https://rexas.com/rexas-whitepaper.pdf

    Twitter/X: https://x.com/rexasfinance

    Telegram: https://t.me/rexasfinance

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  • Bitcoin hits $100k for the first time as bull run continues

    Bitcoin hits $100k for the first time as bull run continues

    An image of a Bitcoin in front a background with arrows pointing up
    • Bitcoin reached the milestone on December 5
    • Over the past 30 days, Bitcoin has increased in value by nearly 50% and 140% in YTD value
    • It comes as President-elect Donald Trump named Paul Atkins as the next US SEC chair

    Bitcoin has reached a new all-time high, hitting $100,000 for the first time, continuing its bull run since the start of November.

    On December 5, Bitcoin broke the $100,000 milestone after getting within touching distance of the psychological level on November 22, at over $99,000. Data from CoinMarketCap shows Bitcoin reached more than $103,500 around 04:05 this morning.

    At the time of publishing, Bitcoin is trading at around $101,000. Over the past 30 days, the crypto asset has risen nearly 50% in value while its year-to-date value has increased by 140%.

    While there are underlying factors relating to Bitcoin’s price rise, Donald Trump’s presidential victory last month has given the asset a significant push. It also hasn’t hurt Bitcoin that Trump announced pro-crypto Paul Atkins as the next chair of the US Securities and Exchange Commission.

    Trump has also picked Scott Bessent and Howard Lutnick to head the US Secretary of Treasury and Commerce departments.

    Taking to X, Michael Saylor, CEO of MicroStrategy, said “there’s going to be a $100k party.”

    Earlier this week, Saylor urged Microsoft to adopt Bitcoin saying it represents “digital capital.”

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  • Sir Richard Branson’s Virgin Voyages becomes first cruise line to accept Bitcoin payments

    Sir Richard Branson’s Virgin Voyages becomes first cruise line to accept Bitcoin payments

    Virgin Voyages becomes first cruise line to accept Bitcoin payments
    • Virgin Voyages becomes the first cruise line to accept Bitcoin for bookings.
    • Passengers can use Bitcoin to book for cruises including the upcoming Virgin Voyages’ Annual Pass.
    • Virgin Voyages targets younger travellers with crypto adoption in a competitive market.

    Virgin Voyages, the innovative cruise line founded by Sir Richard Branson, has announced that it now accepts Bitcoin (BTC) as a payment option for bookings.

    This move makes Virgin Voyages the first cruise line to adopt crypto payments amid a growing trend in the travel and hospitality industries to embrace digital currencies.

    Annual Pass cruise passengers can book using Bitcoin

    According to Virgin Voyages’ announcement, passengers can now use BTC to pay for cruises across its fleet, including its highly anticipated “Annual Pass.” Virgin Voyages’ Annual Pass, which provides a variety of exclusive benefits to frequent travellers, is also the first cruise product to accept cryptocurrency payments.

    This bold step highlights Virgin Voyages’ commitment to appealing to younger, tech-savvy travellers and digital asset enthusiasts, who are increasingly integrating cryptocurrency into their everyday transactions.

    Notably, Virgin Voyages’ decision to accept Bitcoin comes at a time when other sectors of the travel industry are exploring cryptocurrency options.

    Of late, airlines and hotels have started accepting crypto payments to capitalize on the growing interest in digital currencies. Platforms like Travala, a crypto-native travel service, have already partnered with major travel websites like Skyscanner to allow users to book over 2.2 million hotels using cryptocurrency.

    Virgin Voyages’ ambition to become a unique cruise line

    The move is part of a larger strategy by Virgin Voyages to differentiate itself in a competitive industry.

    Founded in 2014 as a joint venture between the Virgin Group and Bain Capital, Virgin Voyages has consistently aimed to offer a modern, youthful alternative to traditional cruising. The company’s fleet, which includes the Scarlet Lady, Resilient Lady, and Valiant Lady, offers itineraries designed for a younger demographic, with shorter Caribbean cruises and exclusive experiences.

    Virgin Voyages’ embrace of cryptocurrency is likely to further set the cruise line apart as it continues to push the envelope in customer service and innovation.

    As digital currencies become more mainstream, Virgin Voyages’ decision to accept Bitcoin may inspire other cruise lines to follow suit in the near future.

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  • dtcpay to phase out BTC, ETH support amid services shift

    dtcpay to phase out BTC, ETH support amid services shift

    • dtcpay has announced that it will be shifting its payment services to stablecoins only effective 2025
    • The Singapore-based platform will phase out Bitcoin and Ethereum by the end of the year

    Singapore-based payment institution dtcpay will no longer be supporting Bitcoin and Ethereum as payment modes.

    The licensed payment platform said the move will be effective in 2025, according to a report from Fintech News. It only intends to support stablecoins and fiat currency payment modes.

    The move focuses more on the stability of stablecoins and fiat currency rather than the volatile nature of crypto. Business operators and consumers are also assured of a more secure payment mode and in line with the country’s regulations.

    dtcpay eyes stablecoins in services pivot

    In its announcement, dtcpay mentioned that there will be a paradigm shift come January 2025. Announcing its cancellation for accepting Bitcoin and Ethereum, it intends to accept stablecoins USDT, USDC, Worldwide USD (WUSD), and First Digital USD (FDUSD) among others.

    dtcpay’s decision comes amid an increased trajectory that has seen the regulated digital payments provider’s users lean towards stablecoins. The growth is what the company is looking to tap into, with digital payments seen as the new frontier in revolution that’s crypto.

    Stablecoins make a huge chunk of this, with a Chainalysis report for Q2, 2024 indicating that the asset-backed tokens accounted for an estimated $1 billion in payments.

    dtcpay’s strategic move is a strong indicator of the need for a stable and most reliable way of digital payment.

    The platform’s good record in innovation, progressive growth in the digital world and different accolades has seen it become a darling to businesses.

    In October 2024, the payment platform, and the only Asia-based company, was picked for the Mastercard Starter Path programme. It also became the first to launch a regulated POS in Singapore enabling business owners to accept crypto payments.

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