Meanwhile, geopolitical tensions are rising like bread in an oven, with nations trading missiles in the Middle East as casually as one might exchange pleasantries. Inflation in the U.S. has slowed, but alas, it remains a far cry from the Federal Reserve’s lofty targets. Tariffs and economic uncertainty loom like dark clouds, prompting investors to scurry towards gold, that age-old refuge.
One might recall that last week, the consumer sentiment index, much like a long-suffering spouse, finally showed a glimmer of hope, marking its first improvement in six months. Cooler-than-expected consumer and producer inflation reports (CPI and PPI) only added to the merriment, much like a well-timed joke at a dinner party. 🎉📊
A constitutional showdown over the privacy rights of cryptocurrency users could reshape how digital financial data is protected under the Fourth Amendment. On June 13, the New Civil Liberties Alliance (NCLA) and Supreme Court litigator Kannon Shanmugam filed a reply brief with the U.S. Supreme Court in Harper v. Faulkender, challenging the federal government’s use of the “third-party doctrine” to justify warrantless seizures of crypto-related financial records. The case centers on James Harper, a Coinbase customer whose data was swept up in an Internal Revenue Service (IRS) probe. According to the brief:
Metaplanet continues to actively purchase Bitcoin as part of their ongoing Bitcoin Treasury operations. Their last purchase of 1,088 BTC for $117.3 million was made on June 2.
Now, the clever blighters have made a distinction between virtual assets and crypto assets, and, by Jove, they’re not calling them securities or digital currencies or any of that rot. No, no, no! They’re giving them their own special category, and that’s just spiffing! 🤓
Meanwhile, the EMA lines are suggesting a cozy little consolidation, with PI precariously perched just above a critical support level at $0.601. Will it break down like a cheap car or rebound like a bouncy ball? Only time will tell, but it’s going to be a nail-biter! 🥴
As we pen this observation, ETH is observed languishing in a state of complete stillness, reflecting a daily change of precisely 0.00%. How riveting! 🎈
Now, here’s the kicker: claiming this airdrop will cost you 15 Alpha points. It’s like paying a cover charge to get into a club where the drinks are free, but you have to confirm your claim within 24 hours. Miss that window, and poof! Your reward disappears faster than your New Year’s resolutions. 🎉
DonAlt, with the sagacity of a seasoned market observer, believes that these treasury holdings could render the next bear market as severe as the calamitous 2018 crash, when Bitcoin plummeted from the dizzying heights of $20,000 to the more modest, yet still respectable, $3,000. He asserts that once Bitcoin reaches its zenith in this cycle, a 70% to 80% drawdown is not an unlikely prospect, a thought that might cause even the most stoic investor to pause and reflect.
According to Saylor, Bitcoin is not just some digital plaything for tech geeks and crypto bros. No, it’s the very foundation upon which the future of global capital flows will be built. As traditional financial systems go digital, he believes the BTC network will be the critical base for storing and transferring wealth.