FYI.
– Bitcoin Soars Above $31K To 12-Month High After Wave Of ‘Positive’ News:
In the 9 days since BlackRock announced its intention to launch a Bitcoin ETF, the largest cryptocurrency has risen by over $6,000.
That news prompted a sizable surge in GBTC (on hopes that Grayscale would finally gets its ETF), reducing the discount to ‘just’ 35% – its smallest in 9 months…
The huge rally (up 8 of those 9 days) was supported by an acceleration after a Citadel-backed crypto-exchange started operations.
And over the last 24 hours, two interesting headlines have also been ‘positive’ for bitcoin:
The IMF released a report, flip-flopping on cryptos: “While a few countries have completely banned crypto assets given their risks, this approach may not be effective in the long run,” the economists said in the report’s conclusion.
As Decrypt reports, this is a swift change from the IMF, which just months earlier said in another report that countries should consider banning cryptocurrencies.
IMF economists even said that cryptocurrency offered a number of benefits to its adopters (though we suspect they are stealthily paying the foundations for a narrative change to their own CBDCs here).
Admittedly, the timing of The IMF’s flop-flop and BlackRock’s ETF announcement (two of the most globalist institutions) makes one wonder – coming just a week after Hong Kong move to solidify its role as major global crypto hub.
Finally, The US Supreme Court decided in favor of cryptocurrency exchange Coinbase in a partisan opinion that will halt court proceedings against the company in two California cases.
Plaintiffs in the class-action lawsuits alleged Coinbase failed to provide proper relief after users lost money and that Coinbase allegedly engaged in deceptive advertising.
This ruling marks the U.S. high court’s first cryptocurrency-related ruling. Justice Brett Kavanaugh wrote the opinion, which was supported by four of the court’s other conservative justices in a 5–4 vote.
And that leads to a $6,000 (24%) surge in nine days…
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