The Bitcoin Minute

Bitcoin reaches a record high nearing $100,000, marking the largest monthly candle ever. Factors like spot ETFs, options trading, and increasing institutional adoption contribute to the spike. Meanwhile, Russia adopts crypto taxation and Craig Wright's Satoshi claim gets rejected.

What is The Bitcoin Minute?

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1. Bitcoin recently reached a new all-time high of $97,000, driven by factors like the introduction of spot ETFs, options trading on ETFs, and growing institutional adoption. This surge highlights the cryptocurrency's volatility and potential for significant price movements.
2. Russian President Putin has signed a law recognizing digital currencies as property and exempting crypto mining and sales from value-added tax (VAT). The law introduces a two-tier tax system for personal income from cryptocurrency transactions, with a 13% rate up to 2.4 million rubles and 15% for higher amounts. Corporate income tax for crypto mining will be 25% starting in 2025.
3. The High Court has rejected Craig Wright's appeal, solidifying the judgment that he is not the creator of Bitcoin. This decision follows a series of legal battles where Wright claimed to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin. The court's ruling has significant implications for intellectual property rights in the cryptocurrency ecosystem.
4. Bloomberg's Mike McGlone predicts that bitcoin will outperform crude oil in the next decade due to increasing demand, supply dynamics, and technological advancements. Despite recent fluctuations, bitcoin's market capitalization has surpassed other commodities like copper.
5. Metaplanet plans to raise $62 million to expand its Bitcoin holdings, leveraging stock schemes to hedge against yen weakness. This move aims to strengthen the company's Bitcoin strategy, with the current stash at 1,142 BTC.
6. Bitcoin's recent price surge has analysts predicting a potential rally above $100k, but it needs to reclaim a crucial level to sustain momentum. Recent news highlights the importance of this level and the potential risks involved.
7. Bitcoin is making a strong push toward $98,000, while XRP has seen significant gains, placing it among the top 100 gainers in the crypto market. This trend is driven by various factors including ETF inflows and whale accumulation.
8. A Bitcoin video casino has announced a 30% deposit bonus for slots on Black Friday, attracting players with a lucrative offer.
Thank you for tuning into The Bitcoin Minute. Your daily source for quick Bitcoin news. The content is not financial advice; always do your own research. This audio was generated with AI. Subscribe for more updates! And see you in the next episode!