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💰 Countries Will Clash Over Bitcoin?

💰 Countries Will Clash Over Bitcoin?

The first hybrid Bitcoin-Ethereum ETFs

Jane Lee
December 19, 2024

In partnership with

With one decision, the FED caused over $1.50 trillion to be wiped out from the U.S. stock market, and the crypto market was no exception.

🚀 Crypto Market Update as FED Cuts Rates

The FED announced a reduction in interest rates with plans for 2–3 cuts, contrary to expectations of 4–5 cuts. This shift in market sentiment led to decreased optimism, further weighing on the crypto market.

On December 20, the crypto market remained in the red due to a sharp drop in BTC price below the $96,000 support level.

As of this writing, BTC has slightly recovered to around $96,800; however, it is still down nearly 4% in the past 24 hours. BTC's market capitalization has fallen to approximately $1.92 trillion, while trading volume has surged to over $105 billion, according to data from CoinGecko.

On Binance, many meme coins continued to decline sharply, including PNUT (down 14%), HIPPO (down 13%), and NEIRO (down 11%).

Notable Events:

$BTC: Spot BTC ETF funds recorded negative capital flows of $439.4 million, ending a streak of strong performance since early December. Significant selling pressure came from ARKB (ARK Invest) and BTC (Grayscale Mini) funds, with outflows of $108.4 million and $188.6 million, respectively.
$ETH: Spot ETH ETFs also reported a net outflow of $58.1 million on December 19, breaking an 18-session inflow streak. Grayscale's ETHE fund experienced the largest sell-off, with $58.1 million in net outflows.

How About Other Coins?

$BTC: The world's largest Bitcoin mining company, MARA Holdings, announced the acquisition of an additional $1.53 billion worth of Bitcoin in December 2024.
$FROG: Binance Wallet revealed the next 10 projects in Batch 3 of Binance Alpha. These coins have high potential for Spot listing in 2025.
$SOL: According to Syndica, total dApp revenue on the Solana network in November reached a record $365 million. The meme coin creation platform Pump Fun became the first dApp to achieve $100 million in revenue, followed by DEX Raydium with $32 million.
$ENA: The Trump-backed DeFi project World Liberty Financial (WLFI) and Ethena Labs announced a partnership promising rewards in sUSDe and WLF for WLFI users.
$TAO: Grayscale officially launched the Grayscale Bittensor Trust for qualified investors, enabling access to the TAO token as a security.
$APT: Aptos co-founder Mo Shaikh announced his resignation as CEO to "start a new chapter." Following the news, APT's price dropped nearly 4%.

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🌏 Bitcoin's Role as a National Asset

Bitcoin is no longer just a speculative asset or a buzzword for enthusiasts. It is steadily evolving into a strategic resource, with governments and institutions beginning to recognize its potential.

Why not Stablecoins?

While stablecoins like USDT and USDC offer a semblance of stability, they remain tethered to the US dollar and are heavily regulated. This reliance on fiat undermines their potential as a truly independent currency. Bitcoin, as a decentralized asset, offers nations a way to bypass traditional financial systems without external control or restrictions.

Institutional Adoption and Market Dynamics

BRICS Nations Taking the Lead

The BRICS bloc (Brazil, Russia, India, China, and South Africa) is spearheading Bitcoin’s adoption as a global trade asset.

New members like the UAE, Argentina, and Ethiopia are mining Bitcoin using government resources.

Russia’s sovereign wealth fund has even announced investments in Bitcoin mining and AI infrastructure, signaling a long-term vision to integrate Bitcoin into international trade settlements.

Bitcoin incorporating

Major financial institutions are increasingly incorporating Bitcoin into their portfolios. BlackRock, the world's largest asset manager, has recommended that investors allocate up to 2% of their portfolios to Bitcoin, signaling growing mainstream acceptance.

Adoption Beyond Borders

Countries like El Salvador have already embraced Bitcoin as a legal tender, while others are integrating it into their national strategies. Corporations and financial institutions are also increasingly adopting Bitcoin, further cementing its place in the global financial landscape.

Bitcoin - A Global Financial Equalizer

For smaller nations, Bitcoin represents a unique opportunity to accumulate wealth and participate in the global economy on a level playing field. Unlike gold, which has already been monopolized by wealthier nations, Bitcoin offers an open, accessible alternative for all.

Conclusion

Bitcoin’s transformation into a national asset might have seemed improbable a few years ago, but the pace of adoption suggests otherwise. Whether for trade, investment, or as a hedge against traditional fiat systems, Bitcoin is proving its value on a global scale.

As we stand at this crossroads, one thing is clear: Bitcoin is no longer just the future—it is the present. Its role in shaping the financial systems of tomorrow is already unfolding before our eyes.

⭐ Top Highlight in Crypto Today

📈 El Salvador sticks to buying Bitcoin despite IMF urging limits, adding 11 coins ($1M+) to its Strategic Reserve while keeping it legal tender; taxes stay in USD.
👾 According to Blockaid, 59% of new crypto tokens launched in 2024 are malicious or nefarious. Cryptocurrency-related scams and frauds have cost approximately $1.4 billion this year.
💰 Donald Trump’s World Liberty Financial (@worldlibertyfi) just spent $2.5M USDT to buy 722.2 ETH after the price dropped by about 6%. The fund now holds 15,595 ETH, worth $53.3M.
✨ The SEC approves the first hybrid Bitcoin-Ethereum ETFs from Hashdex and Franklin Templeton, combining both assets. Launching in January, they promise diversification for crypto investors!
🗽 U.S. Senator Cynthia Lummis declares 2025 a game-changer for crypto, pledging pro-digital asset laws, a Bitcoin reserve, and strong leadership with "Crypto Czar" David Sacks.
📊 Binance survey reveals memecoins are more popular than Bitcoin, with 16% of users holding them. AI tokens and memecoins are expected to drive 2025 crypto growth!

🤡 Meme Of The Day