The past week in the world of cryptocurrency was nothing short of eventful. From Donald Trump advocating for stablecoin legislation to Peter Schiff slamming the strategic Bitcoin reserve, the crypto market was abuzz with activity.
Here’s a quick recap of the top stories that made headlines.
Trump Calls For Stablecoin Legislation
In his address at the Blockworks Digital Asset Summit, U.S. President Donald Trump urged Congress to pass legislation for stablecoins. Trump emphasized the potential of stablecoins to enhance the U.S. financial system and maintain the dollar’s global dominance. This marked his first address at a crypto conference as a sitting president.
Schiff Slams Strategic Bitcoin Reserve
Bitcoin critic Peter Schiff warned that the strategic Bitcoin BTC/USD reserve is a tool to trick Americans into speculative losses. Schiff predicted that more Americans will lose money in crypto under Trump’s influence than in any other speculative mania in history.
Also Read: Peter Schiff Blasts Government Crypto Investments As ‘Waste of Resources’
Bitcoin Prices And The Potential Ukraine Ceasefire
As U.S. President Donald Trump and Russian President Vladimir Putin prepare for a much-anticipated phone call, Bitcoin’s price action remains closely tied to the outcome of a potential ceasefire in Ukraine. According to Polymarket data, a ceasefire in Ukraine has a 61% chance of being announced until July.
MSTR’s Novel Strategy For Bitcoin Exposure
Strategy Inc. MSTR, formerly MicroStrategy, has been helping bond managers outperform with its novel strategy of issuing 0% convertible bonds to acquire more Bitcoin. Tom Lee, the CIO at Fundstrat Capital, believes this strategy has great potential for future upside.
Schiff Criticizes Bitcoin ETFs
Peter Schiff once again criticized Bitcoin and extolled the benefits of gold. Schiff highlighted that gold prices have surged past $3,000 as foreign central banks continue selling U.S. dollars to accumulate gold, weakening the U.S. dollar and boosting foreign stock markets.
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