This Week in Bitcoin: Trump Tariffs Rock Markets as MicroStrategy Rebrands—And Stops BTC Buys
This week saw significant fluctuations in Bitcoin's price, which dropped below $93,000 at the start before rebounding after President Trump's changes to trade tariffs. Currently, Bitcoin is trading around $96,050, down nearly 6% from last week. While investor interest in Bitcoin exchange-traded funds (ETFs) has been tepid, speculation about a new ETF from Trump’s fintech venture, Truth.fi, has emerged. MicroStrategy, the largest corporate holder of Bitcoin, has rebranded to Strategy and halted its Bitcoin purchases after a significant buying spree, reporting a loss of $670.8 million in Q4 2024. Additionally, discussions about a potential American sovereign wealth fund raised hopes for government investment in Bitcoin, though there is no confirmation of Bitcoin's inclusion. Speculation on Satoshi Nakamoto's identity resurfaced after a discovery of transactions linked to his wallet and a defunct exchange. Lastly, Nobel laureate Eugene Fama criticized Bitcoin, predicting it would ultimately collapse due to sustainability issues.
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