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President-elect Donald Trump’s choice for Treasury Secretary, Scott Bessent, has disclosed ownership of spot Bitcoin Exchange-Traded Fund (ETF) holdings worth as much as $500,000. If confirmed for the position, the investor who co-founded Key Square Group says he will resign from the company and divest his investments. Bitcoin Exposure Through IBIT A document released on Saturday by the U.S. Office of Government Ethics (OGE) revealed Bessent’s ownership of the stake in a BTC ETF. It showed that the prospective government official held between $250,000 and $500,000 worth of BlackRock’s iShares Bitcoin Trust ETF (IBIT) shares. The document also highlighted other investments made by the 62-year-old, including interests in the SPDR S&P 500 Trust, Invesco’s QQQ Trust, and its S&P 500 Equal Weight ETF. It also listed a residential property in the Bahamas worth $5 million and an art collection priced at at least $1 million. In total, Bessent revealed holdings estimated at about $521 million, although analysts believe his portfolio could be worth much more as he is only required to list the value of his assets within broad ranges. U.S. laws require high-ranking government officers to disclose their investments as well as plans for divestments if any of their holdings may pose a conflict of interest. Bessent, who was nominated to the powerful Treasury docket by Trump on November 22, 2024, is a well-known crypto supporter, previously describing digital assets as “integral to economic freedom and innovation.” He beat out a long list of contenders, including Cantor-Fitzgerald CEO and co-chair of the Trump transition team Howard Lutnick, ex-Federal Reserve Governor Kevin Warsh, Tennessee lawmaker William Hargety, and Apollo Global executive Marc Rowan. Lutnick was picked to lead the Commerce Department. Trump has also appointed several other crypto supporters to key positions in his administration, including Robert F. Kennedy as Secretary for Health and Human Services, Elon Musk and Vivek Ramaswamy to co-lead a new department to streamline government efficiency, and David Sacks as his crypto and AI czar . Will Bessent Liquidate BTC Position? According to the OGE filing, Bessent will resign from his position as Chief Investment Officer at Key Square Group immediately following his confirmation by the Senate as Treasury Secretary and wind down his interest in the company within 90 days. A Bloomberg report also indicates that, like the assets held through his macro hedge fund, Bessent will liquidate his crypto ETF position. However, Matthew Sigel, head of digital research at VanEck, has questioned Bloomberg’s reporting, pointing out that while Bessent footnoted his divestment of other assets, he did not do the same for his IBIT holdings, suggesting he might be keeping it. This view was reinforced by Swan Bitcoin’s Steven Lubka, who asserted in a January 12 post on X that the Treasury Secretary nominee will not be disposing of his Bitcoin position but will continue to hold it. The post Treasury Secretary Nominee Discloses Up to $500K Stake in Bitcoin ETFs appeared first on CryptoPotato .
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AA News Crypto News Bitcoin ETF Donald Trump Scott Bessent United States
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Bitcoin Monster MicroStrategy Won`t Stop! Announced That It Bought Bitcoin Again! Here Are the Details
Business intelligence firm MicroStrategy, known for its aggressive Bitcoin acquisition strategy, has purchased an additional 2,530 BTC for approximately $243 million, according to an 8-K filing filed with the Securities and Exchange Commission today. MicroStrategy Buys 2,530 BTC for $243 Million, Expands Holding Assets to 450,000 BTC The purchase was made between January 6 and January 12, 2025, at an average price of $95,972 per Bitcoin. The latest purchase brings MicroStrategy`s Bitcoin holdings to 450,000 BTC, worth over $40 billion. The firm spent a total of $28.2 billion on its Bitcoin reserves, with an average purchase price of $62,691 per Bitcoin, including fees and expenses. This makes MicroStrategy the largest institutional holder of Bitcoin, controlling around 2.1% of the cryptocurrency`s limited supply of 21 million. The purchase comes at the same time that MicroStrategy raised $243 million to fund the acquisition by selling 710,425 shares of its common stock during the same period. The sale is part of the company’s 21/21 capital raising strategy to raise a total of $42 billion through equity and fixed income securities. The company also recently announced plans for a $2 billion preferred stock offering that analysts believe could attract institutional investors such as pension funds and insurance companies. According to Benchmark analyst Mark Palmer, this strategy could “unlock an institutional gold mine” for MicroStrategy and diversify its investor base. MicroStrategy’s latest purchase extends a ten-week streak of Bitcoin purchases that has seen it invest over $18 billion in the cryptocurrency. Last week, the firm purchased 1,070 BTC for $101 million, while the week before it made a $209 million purchase. *This is not investment advice. Continue Reading: Bitcoin Monster MicroStrategy Won`t Stop! Announced That It Bought Bitcoin Again! Here Are the Details Crypto Potato
Ripple Poised to Surpass ATH As Influence From $RLUSD Surges; Lunex Network Rapidly Smashes Peak Levels in Presale
The post Ripple Poised to Surpass ATH As Influence From $RLUSD Surges; Lunex Network Rapidly Smashes Peak Levels in Presale appeared first on Coinpedia Fintech News Having suffered legal issues for most of 2024, it was only normal that a lot of investors were surprised when the XRP token climbed well above $2 from a lower level around $0.5. Now stabilized above $2.40 and now launched its $RLUSD stablecoin, investors anticipate further growth for the XRP price. In the midst of a positive Ripple (XRP) market, savvy investors are exploring low-cap gems with equal or more growth potential than Ripple coin. As a result, many are stumbling upon Lunex Network , as it positions itself as a solid DeFi contender with robust features including a multichain DEX, designed to allow wide interoperability over 40 blockchain networks. Ripple Coin Shows Bullish Strength By Surges By Over 10% In The Past Week Having progressed by over $2 from a lower range around $0.5 in October 2024, it’s safe to say Ripple (XRP) has held itself strongly and also rode the bullish wave excellently this market cycle. Although its price has fallen by over 3% what where it was in the past month, XRP token has risen by over 11% in the past week, climbing over the $2.40 range. Several crypto analysts are already bullish on Ripple due to the latest launch of its stablecoin, $RLUSD, which is poised to increase liquidity on the Ripple network. SirRobArtll1, anonymous crypto analyst, highlighted the possibility of Ripple coin hitting $4 very soon. Another analyst, Mr Xoom discussed the growth potential of Ripple on X (formerly Twitter), where he highlighted that Ripple price will potentially hit a target of $6 or $7 by the end of January. Investors are generally confident that Ripple coin can break higher levels this year as Bitcoin continues to rise this year, presenting it as a top crypto to buy this year. Lunex Network Poised To Surpass Some Of The Top DeFi Platforms This Year The Lunex Network (LNEX) has shown that it has the strength needed to transverse through the DeFi market successfully. Given its non-custodial and multi-chain DEX, which comes with extra features that will allow it challenge the likes of Binance (BNB). With additional cheaper transactional rate, surplus liquidity, B2B payment gateway and a Portfolio Tracker, this new DeFi platform is slated to dominate a considerable size of the DeFi market. Its unique B2B payment gateway tackles the issues that merchants face with cross-border payments, so Lunex Network enables merchants to accept crypto as payment worldwide. Moreover, its DEX protocol allows users to trade over 50,000 cryptocurrencies pairs across up to 40 or more blockchain networks while also allowing users to store their assets in a safe, secure and transaction wallet. With regular market insights that come from its Portfolio Tracker, the platform also allows users to manage their assets strategically. As the DeFi market grows, Lunex Network is poised to skyrocket its growth especially as it continues to gain traction. To top it all, its native token is built with a deflationary nature which automatically generates more value through its reduction in supply. The LNEX is currently sold for $0.0054 after rising over 350% from $0.0012 to accumulate over $6.2 million in presale revenue. Its projected massive rise after its presale has also added to its value as a top crypto to buy. Is Ripple A Tough Challenge For Lunex Network to Surpass? Ripple has already established its dominance in the DeFi market and with its $RLUSD stablecoin launch, it serves as a befitting challenge for Lunex Network. However, Lunex’s innovative DeFi features and rapid presale success could help it carve out a surpass Ripple easily if its momentum spikes. You can find more information about Lunex Network (LNEX) here: Website: https://lunexnetwork.com Socials: https://linktr.ee/lunexnetwork Crypto Potato
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Bitcoin Dips Below $90,000 as Fed Rate Cut Doubts Grow
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