Bitcoin News: Coinbase CEO Brian Armstrong Advocates for Global Bitcoin Strategic Reserves

Coinbase CEO Brian Armstrong has publicly endorsed a proposal for global leaders to establish Bitcoin strategic reserves, emphasizing the role of cryptocurrencies in the future of capitalism.

Coinbase CEO Brian Armstrong Backs Global Bitcoin Strategic Reserves Initiative

Brian Armstrong, CEO of Coinbase, has publicly endorsed a proposal for global leaders to establish Bitcoin strategic reserves. In a Jan. 17 blog post discussing 'economic freedom,' Armstrong highlighted cryptocurrencies as 'the next chapter of capitalism' and outlined steps for governments to embrace digital assets in 2025. Among his recommendations were enacting crypto-friendly legislation, improving government efficiency, creating special economic zones, and establishing Bitcoin reserves as a safeguard against inflation. Armstrong argued that Bitcoin could play a foundational role in the global economy, likening it to gold, and suggested it might become pivotal to national security. He stated, 'The next global arms race will be in the digital economy, not space.'

Bitcoin Breaks $104,000, But Fear & Greed Index Still Not Too High: Bullish Sign?

Bitcoin has recently surpassed the $104,000 mark, yet the Fear & Greed Index remains at a moderate level of 75, indicating that the market sentiment is not overly greedy. This could be a bullish sign for Bitcoin's price recovery, as extreme values in the index often precede market corrections. The Fear & Greed Index, developed by Alternative, measures investor sentiment based on factors like volatility, trading volume, social media sentiment, market cap dominance, and Google Trends. A score below 47 indicates fear, while a score above 53 suggests greed. Currently, the index suggests a balanced sentiment, which may support continued price growth.

Bitcoin Whales On The Rise As Market Sees Price Boom – What It Means

Following an earlier price crash to below $90,000, Bitcoin closed out the past week with an impressive price surge resulting in a net 9.30% gain. During this price rally, Santiment reports a significant network development with bullish indications for the largest cryptocurrency. Bitcoin Whale Wallets Heading For 18,000. In a new post on X, prominent blockchain analytics firm Santiment provided a live update on the Bitcoin market amid the current uptrend. Notably, Bitcoin produced another robust positive trading week making a near full-price rebound from its correction in late December. The BTC market was particularly bullish on Friday as prices surged by over 7% to trade as high as $105,970. Interestingly, Santiment reports that the number of whale wallets holding at least 100 BTC had increased to 17,799 right before.

Bitcoin Price Rally Defies Miner Reserve Drops – Here’s Why

The Bitcoin (BTC) Miner reserves have experienced a consistent decline over the last year in a rather concerning development. However, Bitcoin has recorded multiple price rallies during this period even breaking into the $100,000 price zone. CryptoQuant analyst cryptoavails has provided some insight into this divergent trend pinpointing the driving force behind the current bullish market. Bitcoin Miners Offload 37 Million BTC Amid Selling Spree. In a Quicktake post on X, cryptoavails shares that Bitcoin miners’ holdings have been decreasing since the second half of 2023, falling from 1.808 million BTC to its current value of 1.808 million BTC. Generally, when miners’ reserves surge, it indicates accumulation which is interpreted as a bullish signal. On the other hand, a fall in miners’ holdings due to high operational costs or market conditions can signal a bearish trend.

Dead Lancashire man convicted in connection to £28M Bitcoin fraud ring

A deceased man from Lancashire, Parker, along with other co-conspirators, exploited a loophole to siphon £20 million in credits from a website over three months. The illicit funds were laundered by Parker’s corrupt financial advisor, Stephen Boys, who collaborated with Winster Court in Clayton-le-Moors. The Bitcoin fraud ring spent the stolen money lavishly, including gifting £5,000 gift cards to people on the streets and giving new cars to individuals Parker met at the pub. During the investigation, Lancashire police recovered 445 BTC, valued at a significant amount.