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Former President Trump, who is running in the US presidential election in November as a “pro-cryptocurrency candidate,” once again expressed his intention to support cryptocurrency at a campaign event held on the 23rd. He said, “Cryptocurrency has a great future,” and “Through cryptocurrency investment, we can pay off the US debt of 35 trillion dollars (about 46,707.5 trillion won).”
2. Hong Kong enters phase 2 of CBDC testing
The Hong Kong Monetary Authority (HKMA) announced on the 23rd that it will launch a second project for about a year, following the first pilot project of Hong Kong's CBDC, the "digital Hong Kong dollar (e-HKD)", which was concluded in January of this year. The HKMA named the second phase of the CBDC test "Project e-HKD+" and explained that the test will focus on ▲tokenized asset payments ▲programmability ▲offline payments.
3. BlackRock submits Bitcoin spot ETF amendment… “Promoting faster Bitcoin settlement”
BlackRock filed an application with the U.S. Securities and Exchange Commission (SEC) on the 23rd, amending the details of its Bitcoin (BTC) spot exchange-traded fund (ETF) 'IBIT'. BlackRock's application included a provision that IBIT's Bitcoin custodian Coinbase would process Bitcoin withdrawals within 12 hours, with the aim of faster Bitcoin settlement processing at IBIT.
4. CryptoQuant: "China Maintains Bitcoin Hash Rate at 55% Despite Cryptocurrency Ban"
It was revealed that China still accounts for about 55% of the global Bitcoin hash rate despite its full-scale cryptocurrency ban that began in 2021. According to a report released on the 23rd by on-chain analytics platform CryptoQuant, China has been able to maintain a consistently high hash rate due to the proliferation of small-scale mining operations. Meanwhile, the United States was revealed to account for about 40% of the global Bitcoin hash rate due to institutional miners.
5. Bitfinex: "Bitcoin may move sideways for a long time below $65,000"
Bitfinex, in its own report published on the 23rd, pointed out that the recent Bitcoin rally is a rally driven by the Bitcoin futures market, and that the price of Bitcoin may move sideways for a long period of time due to high open interest.
6. Bitcoin Analyst: "Bitcoin Could Reach $100,000 With High Inflation"
Bitcoin analyst Luke Broyles claims that Bitcoin will reach around $100,000 in the next bull market due to the current high inflation. He pointed out that the cumulative inflation rate in the United States in 2021 was around 16.2%, which caused Bitcoin, originally worth around $69,000, to hit $80,000. Broyles predicted that the Federal Reserve (Fed) will print money like crazy in the next 6 to 18 months due to interest rate cuts, which will push the price of Bitcoin to around $95,000.
Reporter Kwon Seung-won ksw@
