#6: No "Central Bank Digital Currency"

Dear Bitcoin Daily Readers,

The USA won’t be creating a Central Bank Digital Currency aka CBDC. Donald Trump in a recent press conference said “This I do for Vivek - he wanted this, and I'll give him full credit for it. It's very important, actually: I will never allow the creation of a Central Bank Digital Currency”. This is a huge decision because we have been expecting governments to retaliate against Bitcoin with the creation of their own Central Bank Digital Currency. But now, the largest economy in the world has just decided that they won’t be creating one. Let’s see if other nations follow.

On that note, here’s our daily briefing for you:

1. Bitcoin has seen a drop, trading below $100,000, marking a sharp decline from recent highs. It experienced over $250 million in long liquidations, reflecting a sell-off by traders who had leveraged bets on Bitcoin's continued rise. This drop is attributed to a broader market reaction to risk-off sentiment, particularly influenced by declines in Nasdaq stocks.

2. MicroStrategy acquired an additional 10,107 BTC ~ $1.1 billion at $105,596 per Bitcoin. This acquisition seems to have happened at the local top of Bitcoin chart but Saylor hardly cares.

Last week was quite eventful and frenetic. Things seem to have slowed down a little now. The Bitcoin world is certainly wild.

Keep Learning and Keep Stacking!

See you tomorrow.