Strategy Plays Defense, Tech Firms Push for CLARITY, And More — Weekly Recap
Key Takeaways
- Strategy’s 846,842 BTC survived 2022 stress as CTA’s 1,200 firms push Senate crypto clarity.
- XRP Binance withdrawals hit June 2024 highs as Satoshi’s 3.1M lost- BTC debate sharpened scarcity.
- X Money gave Premium+ users $10M FDIC cover, hinting Elon Musk’s finance push may add crypto.
WEEK IN REVIEW
Michael Saylor Reflects on Strategy’s Bitcoin Crisis After BTC Fell Below $16K
Strategy’s bitcoin position has swelled to 846,842 BTC after surviving a dramatic 2022 crypto market downturn that put its… read more.
Editor’s comment:
Mr. Saylor attempts to put the current market conditions into perspective, and does a decent job of reminding people of how dire things looked in 2022.
1,200 Tech Companies Push Senate to Pass CLARITY Act Quickly as US Crypto Rules Face Global Pressure
The Consumer Technology Association, which represents more than 1,200 technology companies, urged Senate leaders to… read more.
Editor’s comment:
It’s telling that the Consumer Technology Association (CTA) looks to primarily be pushing Democrat policymakers. Telling, but unsurprising.
XRP Withdrawal Activity Reaches Highest Level Since June 2024 on Binance
XRP withdrawal transactions on Binance overtook deposits for several days, while similar shifts were observed across other crypto exchanges… read more.
Editor’s comment:
This is cautiously optimistic data. The withdrawal dominance is directionally constructive for XRP because exchange outflows are often associated with reduced sell pressure or accumulation. Fingers crossed.
Satoshi’s Lost-Coin Quote Hits 16-Year Mark as Millions of BTC Are Deemed Lost
Satoshi’s 2010 lost bitcoin remark turns 16 as data pegs permanently lost bitcoin near 3.1 million BTC. But is that figure… read more.
Editor’s comment:
“Dying Bitcoins”, as they were called, was seen by Satoshi as a feature, not a bug. How many coins are lost looks to be an unsolvable mystery.
Elon Musk’s X Money Rolls Out to Premium+ Users With Up to $10 Million in FDIC Insurance
Elon Musk’s social platform X has begun rolling out its X Money payments service to select Premium+ subscribers, offering up to… read more.
Editor’s comment:
Thus far there doesn’t seem to be any crypto features, but given Mr. Musk’s flirtations with crypto it’s safe to say that many are coming.
