Latest Bitcoin News and Insights | Yellow.com

Michael Saylor, co-founder of MicroStrategy, has a wild idea. He thinks Uncle Sam should be the biggest Bitcoin hodler on the planet. "The U.S. government should own the majority of the Bitcoin in the world," Saylor declared at Bitcoin 2024 Conference. This would mean over 10.5 million BTC, worth $711 billion at current prices. It's a bold claim. The feds currently have 208,898 BTC, mostly seized from criminals. That's chump change compared to Saylor's target. Saylor's not alone in his crypto dreams. Robert F. Kennedy Jr., running for president, wants the government to match its gold reserves with Bitcoin. The US has 8,134 metric tons of gold, worth $615 billion. Why bother? It's about backing the greenback. Saylor likens it to buying Manhattan for peanuts back in the day. "The future of the country is in cyberspace, and Bitcoin is, in essence, 'cyber Manhattan,'" he said. He reckons it could be worth trillions down the line. Politics is getting crypto-curious. Donald Trump's talking about protecting Bitcoin miners. Kamala Harris's team is sniffing around, chatting with crypto bigwigs like Mark Cuban. But it's not all smooth sailing. The Biden administration has been cracking down on crypto firms. Any Bitcoin-backed dollar plan would need a major policy shift. Bryan Courchesne of DAIM.io thinks it's doable, but tricky. "The Justice Department holds about 200,000 Bitcoin," he told CNBC. "They could easily just move that over to the Department of Treasury." If the US went all-in on Kennedy's plan, they'd need to buy $154 billion in Bitcoin annually for four years. That's a lot of digital gold. Saylor's not shy about his Bitcoin predictions. He thinks the market cap will hit $280 trillion by 2024. That's a 200x growth from today. Talk about shooting for the moon. For now, it's all pie in the sky. But with crypto creeping into mainstream politics, who knows? Maybe Uncle Sam will be stacking sats sooner than we think.

Four men are in custody for a brutal Bitcoin robbery turned murder in Kyiv, Ukraine, the heart of a war torn country in the Eastern Europe. The victim? A 29-year-old foreign crypto enthusiast. The suspects, aged 24 to 29, allegedly planned the attack meticulously. They struck at midnight on July 29. And committed a violent crime worth depicting in Hollywood dark movies. Locals called the cops after hearing screams. They saw several men beating someone and shoving him into a car. The victim was taken to an abandoned building. There, he was forced to transfer about 7 million Ukrainian hryvnias in Bitcoin. That's roughly 2.55 BTC or $170,000. After getting the crypto, the attackers strangled the man. They buried his body in a forest. The police say the suspects tried to cover their tracks. They changed the car's appearance and plates. The gang converted the stolen Bitcoin to cash. They were nabbed with stacks of dollars and euros. Kyiv prosecutors are going for the jugular. They're looking at charges including murder, robbery, and kidnapping by an organized group. The suspects could face life in prison. There is no death penalty in Ukraine, just in case you wondered, as they could be the type of criminals deserving it. This isn't the first time crypto has been linked to grisly crimes. In 2022, a crypto millionaire was found chopped up in a suitcase in Argentina. Another poor soul was beaten to death with a dumbbell in Bulgaria. Bitcoin cypherpunk Jameson Lopp warns that criminals often scout victims through social media and crypto events. He advises against flaunting wealth online or wearing crypto-branded gear. "Keep a low profile," he says. "It's that simple."

Lyn Alden, a top macro expert, has laid out a roadmap for countries to embrace the Bitcoin Standard. This comes as US debt hits a whopping $35 trillion. The Bitcoin Standard, first proposed by Saifedean Ammous in 2018, aims to replace central banks. It's seen as a decentralized alternative to the current system. Alden outlined several steps for countries looking to adopt Bitcoin. "Adding some to the reserves would be one of the options," she said. She also suggested attracting Bitcoin businesses and making it legal tender. But it's not a quick fix. Bitcoin's market cap is still too small for it to be a reserve asset or legal tender right now. However, Alden thinks US fiscal issues could change this. They might push institutions and countries to buy Bitcoin. This could create a growth spiral, paving the way for wider adoption. "As the US goes through its fiscal spiral, there are more and more obvious signs on the wall to get into these other assets," Alden explained. She believes this could make Bitcoin "more liquid" and "more widely held". The transition won't happen overnight. It's a gradual process that requires careful planning and execution. Alden's insights come at a crucial time. Many are questioning traditional financial systems. Bitcoin offers a potential alternative. But challenges remain. Regulatory hurdles and market volatility are still major concerns. Critics also point to Bitcoin's environmental impact.

Hong Kong legislator Johnny Ng is shaking things up. He's eyeing Bitcoin for the city's fiscal reserves. It's a bold move that's got people talking. Ng announced his plan on X, and according to that post, he wants to work with stakeholders to explore adding Bitcoin to Hong Kong's financial stockpile, being in line with the latest plans announced by Donald Trump. It's not a done deal, but it's turning heads. "Bitcoin is digital gold," Ng says. He's not wrong. The cryptocurrency is gaining traction globally as a hedge against inflation. Ng thinks Bitcoin could beef up Hong Kong's economic framework. But he's not jumping in blind. He's calling for proper regulations first. The timing is interesting. Bitcoin and Web3 are hot topics worldwide. Their decentralized nature is appealing to many investors. Ng's pushing for more than just Bitcoin. He wants Hong Kong to lead in Web3 development too. It's all part of his grand plan for the city's future. "We're at a crucial stage," Ng explains. He believes Hong Kong is primed for a more open and innovative market environment. But Ng's not throwing caution to the wind. He's calling for thorough research and compliance checks. Safety first, after all. His proposal comes on the heels of former U.S. President Trump's speech at the Bitcoin 2024 conference. Talk about riding the wave. Ng's vision goes beyond crypto. He's urging the government to focus on tech innovation and create a supportive environment for Web3. It's not just talk. Hong Kong's already making moves in digital finance and blockchain. The city's regulatory framework is evolving to keep up.

Robert Kennedy Jr.'s call for the US to hold Bitcoin like gold has got investors excited. Bitcoin's price has shot up past $68,000. That also had its impact on the global crypto market which is now worth $2.39 trillion, up a whopping 3.39% in 24 hours - a rarely seen event in our sadly stable crypto times. But there is something else to be excited about. Kennedy's pro-Bitcoin stance is stronger than Trump's. He wants the government to match its gold reserves with Bitcoin by the end of his term. Right now, Uncle Sam has 210,000 Bitcoins. That's peanuts compared to $640 billion in gold. Kennedy sees Bitcoin as a freedom tool. He thinks it can fight inflation too. VanEck's Matthew Sigel is even more bullish. He reckons Bitcoin could hit $325,000 in five years. Why? People don't trust banks and governments are spending like crazy. Kennedy's plan could send Bitcoin's price to the moon. More demand, more confidence. The US stock market is on a roll too. It's all thanks to cooler inflation numbers. The PCE price index went up 0.1% in June. It's 2.5% higher than last year. That's down from May's 2.6%. Bitcoin jumped 4.7% to $67,689 on this news. Wall Street was happy too. The Dow Jones gained 610 points. 3M's stock shot up 16%. The S&P 500 and Nasdaq were up as well. Lower inflation makes investors feel good. Good vibes all around.