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đź—ž Bitcoin price hits $51K as U.S. Senate passes $1.9 trillion stimulus
The price of Bitcoin (BTC) reached over $51,000 on March 7 after the U.S. Senate passed the anticipated $1.9-trillion stimulus bill, which is roughly two times larger than the market capitalization of BTC.
United States’ President Joe Biden said that the Senate’s approval shows major progress in delivering a “desperately needed” stimulus bill to Americans. He said:
“Today I can say we’ve taken one more giant step forward in delivering on that promise, that help is on the way. It wasn’t always pretty, but it was so desperately needed, urgently needed.”
The combination of a devaluing dollar and the new stimulus package would likely cause the market sentiment around Bitcoin to improve. Brandt wrote:
“The devaluation of the purchasing power of the U.S. Dollar $DX_F has only just begun. This is why Bitcoin $BTC, real estate, U.S. equities and commodities will continue to trend higher when expressed in $USD fiat terms.”
đź—ž Chinese App Maker Meitu Buys $40M in BTC and ETH
- China’s major tech company Meitu bought $17.9 million in BTC and $22 million in ETH.
- The company said it made the ETH purchase as it seeks to integrate blockchain technology into its apps.
Meitu, a technology company headquartered in China’s Fujian province, today announced that it has bought $40 million in cryptocurrencies—$22 million in Ether (ETH) and $17.9 million in Bitcoin (BTC).
Meitu, a smartphone manufacturer and selfie app software company that has been listed on the Hong Kong Stock Exchange since 2016 and has a market cap of $11.76 billion, disclosed that it has bought 380 BTC and 15,000 ETH.
đź—ž TRON CEO Justin Sun bids $1,000,000 for the First Ever Tweet
- The auction opened today.
- Sun already bid twice.
- The TRON CEO is one of crypto’s flashiest spenders.
Just when you thought the world of NFTs couldn’t get crazier, extravagant TRON CEO Justin Sun today threw $1,000,000 at a tweet.
Not just any tweet: It’s the first tweet ever published, written by Twitter founder Jack Dorsey himself in 2006, and now Dorsey’s auctioning it off as an NFT.
NFTs are digital collectibles coded on the Ethereum blockchain. Thanks to advanced cryptography, an NFT proves its own digital scarcity through virtually unalterable coding. That means NFTs are much like any other collectible—trading cards, old cars, stamps—except they’re totally digital.
đź—ž Ripple Prevents Investor From Redeeming $175 Million in Stock Before SEC Ruling
- Tetragon, Ripple’s UK-based major investor, requested in January that the court have the firm’s preferred Series C Ripple stock be redeemed.
- But the court has now rejected that request, saying the XRP’s status is yet unsettled.
Ripple, the crypto payments company behind XRP, yesterday dodged a bid from one of its biggest investors to redeem $175 million worth of stock.
The investor, British fund manager Tetragon Financial Group, in January demanded to redeem its preferred Series C Ripple stock.
Its request came a month after the U.S. Securities and Exchange Commission (SEC) sued Ripple for, the SEC alleges, raising $1.3 billion in an unregistered securities offering.
Tetragon is a major investor of Ripple. It led its Series C funding round in 2019, raising a total of $200 million. The company couldn’t be reached for comment by press time.
The terms of that deal included a provision that if XRP is deemed to be a security, Tetragon “has the option of having Ripple redeem their Ripple equity.”
But the court rule said that that question hadn’t been settled.
“XRP is no more a security after the SEC filed the enforcement action than it was before it,” the court said. “The enforcement action, by contrast, asks that question. The question is not yet resolved, so a determination has not yet been made.”
đź—ž Daily Crypto Calendar, March, 7thđź’°
- Kebab Token (KEBAB), PancakeSwap (CAKE)
"Our exchange will support Binance Smart Chain on 07 March. We will list #CAKE @PancakeSwap #KEBAB @kebabfinance on the same day."
- Bondly (BONDLY)
"$BONDLY/USDT trading starts 11:00 (UTC+8) on March 7th!"
- Alpaca Finance (ALPACA)
"As promised, higher farming APYs are coming! The TXs to correct rewards points + the bonus are queued. To be executed at 3:30 AM UTC..."
- 88mph (MPH)
$MPH will be listed on #MXCExchange soon! @88mphapp.
- đź—ž Daily Crypto News & Video, March, 6thđź’°
- đź—ž Daily Crypto News & Video, March, 5thđź’°
- đź—ž Daily Crypto News & Video, March, 4thđź’°
- đź—ž Daily Crypto News & Video, March, 3rdđź’°
- đź—ž Daily Crypto News & Video, March, 2ndđź’°
- đź—ž Daily Crypto News & Video, March, 1stđź’°
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Thanks for sharing news... So the financial stimulus was approved. Did I get it right?
It is my pleasure ! It has been indeed, this is why the Stock Market is rallying (And also cryptocurrencies :D)
I like your profile, I follow yet