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  • Bitcoin Stalls Just Below $100K: Investors Await Next Big Catalyst

    Bitcoin Stalls Just Below $100K: Investors Await Next Big Catalyst

    Bitcoin, the leading cryptocurrency, entered the weekend tantalizingly close to the $100,000 milestone, but it fell short of breaking through this key psychological and financial barrier. Trading just under $99,000 on Saturday morning in New York, the token briefly surged within $300 of the six-figure mark on Friday afternoon, reigniting investor hopes.

    The cryptocurrency has been on a remarkable upward trajectory since Donald Trump’s re-election. Market sentiment has been buoyed by expectations of crypto-friendly regulatory policies and a boost in mainstream adoption, spurred by Trump’s publicly expressed support for digital assets. In the wake of the election, the broader crypto market has surged, adding nearly $1 trillion in value.

    Shifting Regulatory Landscape

    A potential turning point for the U.S. crypto landscape appears to be taking shape. Reports indicate that Trump’s transition team is considering creating a dedicated White House position to oversee digital-asset policy. This move could provide the industry with direct access to the president-elect, who has shifted from earlier skepticism to championing cryptocurrency.

    This optimistic outlook is also rippling across Wall Street. Charles Schwab Corporation’s incoming CEO, Rick Wurster, recently announced plans to offer spot crypto trading once regulatory adjustments are in place. Meanwhile, institutional players such as MicroStrategy are doubling down on Bitcoin purchases, and the introduction of Bitcoin exchange-traded fund (ETF) options in the U.S. is further fueling bullish sentiment.

    Momentum Drives Market Action

    “Momentum is the key driver here,” said Chris Weston, head of research at Pepperstone Group. “With SEC Chair Gary Gensler set to step down on January 20, large inflows into Bitcoin ETFs, and the rising role of options, $100,000 is acting as a magnet.”

    For Bitcoin advocates, reaching the $100,000 mark would symbolize a significant victory, countering critics who question the utility of digital assets and highlight their association with illicit activities. However, despite doubling its value this year, Bitcoin’s role in investment portfolios remains controversial.

    Skepticism Remains

    While supporters tout Bitcoin as a modern-day store of value, skeptics warn of its volatility and speculative nature. “Bitcoin is not something you can value,” said Themis Themistocleous, EMEA chief investment officer at UBS Wealth Management, in an interview with Bloomberg. “It’s highly volatile. Alternative hedges like gold have consistently proven to be more reliable.”

    As Bitcoin edges closer to the coveted $100,000 threshold, the cryptocurrency world is bracing for what comes next. Whether it breaks through or falters again, the market remains a focal point for investors worldwide.

    Source : Swifteradio.com

  • (VIDEO) My Salary as Speaker Was N400,000— Dogara

    A former speaker of the Nigeria’s House of Representatives, Yakubu Dogara, said his total allowance in office was N25 million and salary N400,000 monthly.

    Dogara said the clarification was necessary following public misconception that members of the National Assembly earned huge salaries and allowances.

    Yakubu Dogara was the Speaker of the 8th Assembly. He was speaking during a Goodwill message at the two days ‘House Open Week 2024’ organised by the House of Representatives as part of the celebration of 25 years of unbroken democracy in the country,

    He said further that the misconception of huge salaries and allowances by Nigerians had given the National Assembly a negative image, to the extent that lawmakers were called thieves at public fora.

    Dogara said it was important Nigerians allowed their representatives to work and limit the financial demands on them .
    The former speaker said he suffered the same fate as a member of the House of Representatives and as speaker because of the belief by Nigerians that lawmakers collect millions as salaries and allowances monthly at the expense of Nigerian workers.

    Dogara noted that, his salary was N400,000 while he had the sum of N25 million monthly as the Speaker of the 8th Assembly.