Skip to main content

Featured Story

Produced by Daniel Aharonoff & Mogul Media AI

Bitcoin's All-Time High: Adjusting for Inflation

Bitcoin's All-Time High: A Perspective on Inflation Adjustments As Bitcoin inches closer to its all-time high, the cryptocurrency landscape is buzzing with discussions about whether its previous peak should be adjusted for inflation. With the U.S. Bureau of Labor Statistics' Consumer Price Index (CPI) inflation calculator suggesting a revised target of approximately $75,000, the debate intensifies. This adjustment isn't merely academic; it reflects the evolving role of Bitcoin in the financial ecosystem, especially as it vies for status as a serious inflation hedge. Understanding the All-Time High Previous Peak : Bitcoin reached an all-time high of nearly $69,000 in November 2021. Inflation Adjustment : Adjusting for inflation brings the real target closer to $75,000, emphasizing the need to consider economic conditions over time. Bitcoin as an Inflation Hedge Despite the volatility associated with Bitcoin, it continues to be regarded as a potential safeguard a
Post a Comment
Read more
Produced by Daniel Aharonoff & Mogul Media AI

Senator Elizabeth Warren Challenges SEC on Bitcoin ETF Approval

U.S. Senator Elizabeth Warren from Massachusetts recently voiced strong criticism against the Securities and Exchange Commission (SEC) for approving multiple spot Bitcoin ETFs from asset managers such as BlackRock, Grayscale, and Ark Invest. In a tweet, Senator Warren expressed her disapproval, stating that the SEC was "wrong on the law and wrong on the policy" in regard to their decision. She emphasized the importance of basic anti-money laundering rules for the crypto industry if it is to further integrate into the financial system.

SEC's Approval of Spot Bitcoin ETFs

  • Senator Warren criticized the SEC's approval of spot Bitcoin ETFs from various asset managers, including BlackRock, Grayscale, and Ark Invest.
  • She highlighted the need for cryptocurrency to adhere to anti-money laundering rules as it becomes more entrenched in the financial system.

SEC Chair's Response

  • SEC Chair Gary Gensler defended the decision by stating that the Commission acts within the law and legal interpretations.
  • Gensler mentioned that circumstances had changed after a court order prompted a review of Grayscale's application for a spot Bitcoin ETF, citing the unlawful disparate treatment of similar products.

Warren's Stance on Cryptocurrency

  • Senator Warren has been vocal in her criticism of cryptocurrency, associating it with money laundering and terrorist financing.
  • She claimed that groups like Hamas and Islamic Jihad have raised over $130 million in crypto, a figure disputed by blockchain analytics firm Elliptic.

Legislative Efforts

  • Warren has called for updates to the Bank Secrecy Act to address the perceived threat of cryptocurrency.
  • She sponsors the Digital Asset Anti Money Laundering Act, which seeks to expand KYC requirements to blockchain infrastructure providers and participants.

Senator Warren's ongoing scrutiny of the crypto industry underscores the continuing debate surrounding regulation and oversight in the rapidly evolving digital asset space. As the landscape of cryptocurrency continues to develop, the intersection of financial regulations and digital innovation remains a topic of significant interest and contention.

Email Post

Comments

Post a Comment

Trending Stories