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Bitcoin Crushes Gold Ceiling: 1 BTC Equals 39 Ounces—More to Come?

Launched in 2009, Bitcoin has massively surged as the flagship cryptocurrency recently hit an all-time high of $106,533. Since the U.S. presidential election, the value of the cryptocurrency has increased by at least 50 percent. However, the price is currently consolidating at $104,672 – 2.6% higher on Monday. At this price, 1 Bitcoin is equal to 39 ounces of gold. U.S. Strategic BTC Reserve Talk Fuels Rally Further, there is speculation that the Trump administration is making a Bitcoin strategic reserve. This initiative would be modeled after the US Strategic Petroleum Reserve. President-elect Donald Trump discussed this during a recent public address. The U.S government already owns 200,000 BTC, which is worth over $20 billion. Trump’s administration also intends to apply crypto-friendly measures. Former PayPal executive David Sacks has been hired as a cryptocurrency advisor. Trump is also likely to nominate Paul Atkins, an attorney with a pro-crypto record, for the position of the SEC chair. Other nations have also shown interest in holding Bitcoin reserves . China, the UK, Bhutan, and El Salvador have invested in Bitcoin for national strategies. Japan legislators are pushing for a strategic Bitcoin reserve. Meanwhile, Russia is exploring Bitcoin as an alternative to the U.S. dollar. President Vladimir Putin has criticized the dollar’s dominance in global trade. Jerome Powell, Chairman of the Federal Reserve, remains skeptical. He recently compared Bitcoin to gold, calling it speculative. The inclusion of MicroStrategy in the Nasdaq-100 Index has drawn attention as MicroStrategy holds significant Bitcoin reserves . Its shares have surged sixfold this year, reaching a market value of $94 billion. The company’s inclusion in the index could attract more institutional investors. Peter Brandt Bitcoin Analysis and Prediction Veteran trader Peter Brandt’s recent analysis on December 16th shows Bitcoin has broken a new all-time high in the Bitcoin/Gold ratio. The ratio is now at an all-time high, with Brandt predicting it could soon reach 89:1, meaning it will take 89 ounces of gold to buy one Bitcoin. Chart shared by Peter Brandt showing BTC Vs Gold analysis Both Brandt’s charts show a clear bullish breakout, with Bitcoin maintaining strong upward momentum. The other chart highlights Bitcoin’s recent price action, suggesting a possible target of around $120,000, with further upside potential. Chart shared by Peter Brand showing BTC/USDT analysis and next target The chart shows Bitcoin’s longer-term movement, reinforcing the strength of this rally, with Bitcoin steadily rising after breaking past resistance levels. Bitcoin’s year-to-date growth now stands at 192%. The total cryptocurrency market is valued at $3.8 trillion. Crypto Potato

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Forte Unveils Open-Source Rules Engine to Support Safety and Economic Stability in Blockchain Development

San Francisco, California, December 16th, 2024, Chainwire Forte’s Open Source Rules Engine Empowers Web3 Developers with Dynamic On-Chain Compliance and Economic Solutions for Launching and Managing Digital Assets. Forte has officially unveiled and launched the Forte Rules Engine, an open-source solution for developers to build safe, on-chain environments and manage digital asset economies for web3 apps. With the Rules Engine, developers can define and enforce rules, establish transaction guardrails, manage compliance obligations, and mitigate the risks of volatility and bad actors – all while supporting long-term digital asset utility and economic health. Developers can now utilize the Forte Rules Engine by visiting: forte.io/developers “The future of blockchain development is at a pivotal moment where the need to build strong foundations that foster safe, sustainable environments is paramount for blockchain projects and communities to thrive,” said Bela Pandya, CEO of Forte, “The Rules Engine was built to deliver these foundational technologies to developers that enable on-chain safeguards across a wide array of critical functions. From anti-dumping controls on airdrops to guardrails ensuring digital assets never interact with sanctioned wallets, and custom controls designed to mitigate volatility and market manipulation, the Rules Engine empowers developers to launch their projects confidently. This marks a new chapter for blockchain development, driven by compliance, economic stability, and a renewed sense of trust in blockchain development with much more on the horizon for the Forte Rules Engine.” Fully compatible with all EVM chains and web3 wallets, the Rules Engine provides developers the on-chain technology they need to build a safe, sustainable economy that their communities trust. This innovative suite of solutions aims to support: Safe Environments for Digital Assets The Forte Rules Engine employs on-chain guardrails to implement protective layers and safeguards that help mitigate risk and manage digital asset markets. The technology streamlines compliance navigation by leveraging Forte’s ecosystem of regulated partners to facilitate Know Your Customer (KYC) and Wallet protocols as well as sanctions enforcement, fostering responsible practices and building trust among users and communities. Through enhanced features such as Zero Knowledge (ZK) capabilities, developers can ensure privacy, verify identities, and assure transaction integrity. Economic Stability Developers will have access to a growing set of features designed to help launch, grow and scale a sustainable economy that their community can trust. This includes both templated and bespoke rulesets which can be designed to mitigate market volatility and manipulation, enforce token utility requirements, and effectively manage trading volume. The on-chain rulesets are designed for seamless integration and equipped with third-party integration options, ready to meet developer needs from day one. They offer the flexibility to adapt and evolve alongside the project, ensuring scalability and stability. Developers interested in leveraging the Forte Rules Engine for their next project can start building here . About Forte Forte provides open-source, on-chain solutions that foster safe environments and support healthy and stable digital asset economies. Our trust and privacy-preservation solutions empower developers to manage compliance risk, promote economic stability, and leverage instant liquidity. Developers can deploy flexible and adaptable blockchain solutions that evolve with their dynamic needs – fully compatible with all EVM chains and web3 wallets. Forte and its ecosystem partners are currently working with acclaimed developers to redefine the future of blockchain innovation. Contact Sibel Sunar 47 communications on behalf of Forte forte@fortyseven.com Crypto Potato