Why Bitcoin is the king of assets

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ETMarkets DeCrypt

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Jun 29, 2024, 3:24:38 AMJun 29

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DeCrypt Weekly Update

Sat, Jun 29, 2024 | 11:24 AM IST

Why Bitcoin is the king of assets

Hello Pawanupadhyay,

As the understanding of Bitcoin spreads, a profound realization takes hold - Bitcoin possesses unique characteristics that position it as the superior savings technology and arguably the king of all assets. This revolutionary cryptocurrency, launched in 2009, has defied skeptics and emerged as a formidable force in the financial world.

The Phases of Bitcoin Understanding

The journey to fully grasping Bitcoin's potential often follows a predictable path. Initially met with skepticism and mockery, Bitcoin is frequently dismissed as a speculative fad or a tool for illicit activities. However, as early adopters reap substantial gains, curiosity piques. According to data from Blockchain.com, the price of a single bitcoin has surged from just $0.08 in 2010 to over $70,000 as of May 2024, minting numerous millionaires and billionaires along the way. Read More

About Rajagopal Menon

CRYPTO TOP GAINERS

As on Jun 29, 2024 11:19 AM

Name	LTP	Vol (24h, Cr.)	M.Cap (Cr.)	Circ. Supply (Cr.)
Quant	6,5248.40%	288	9,475	1.45
Arweave	2,2333.13%	585	14,657	6.55
Cardano	33.052.14%	2,770	1,17,230	3,542.95
Injective	1,9552.12%	903	19,009	9.72
TRON	10.372.03%	2,410	90,436	8,720.70
Aave	7,9481.99%	1,019	11,812	1.49
LEO Token	4901.79%	8.49	45,341	92.61

WEEKLY TOP NEWS

US Treasury finalizes new crypto tax reporting rules

The new tax reporting requirements for crypto brokers aim to improve accuracy, ensuring that crypto owners pay the tax owed on digital asset transactions. The rules will help simplify reporting and may lead to additional IRS regulations for non-custodial brokers in the future.

Crypto Price Today: Bitcoin gains 1.5% on ETF buying, Solana jumps 7% after VanEck files for ETF

Bitcoin and Ethereum prices surged amidst growing interest and ETF approvals. CleanSpark's acquisition and SEC's ETF approvals signal positive trends in crypto investments. VanEck filed for a Solana ETF, further expanding the investment options in the market.

Delta Exchange launches India platform for crypto futures & options trading

Delta Exchange's Indian platform offers secure options trading on various crypto assets, supported by prominent investors and boasting impressive trading volumes and growth.

Crypto Price Today: Bitcoin holds above $60k but down 1.5%. Ethereum, BNB, Solana, Dogecoin, others fall up to 4%

BlackRock's IBIT saw significant trading volume, while the market anticipated the expiry of multi-billion dollar Bitcoin and Ethereum options. Strong institutional interest and positive trading activity influenced the crypto market's momentum, underscoring ongoing market dynamics and investor sentiment.

Crypto Price Today: Bitcoin prices steady above $61k as buying returns. Ethereum, BNB, Solana, Dogecoin gain up to 3%

Bitcoin prices saw stable trading on Wednesday, gaining marginally by 1% to $61,598 around 12 pm India time. Other major crypto coins traded with a positive bias too.

Crypto Price Today: Bitcoin’s 2% loss is advantage altcoins. Solana, Cardano, Toncoin jump up to 9%

BTC faced challenges from ETF flows and macro data but surged with inflows. Altcoins gained traction as Bitcoin's dominance dropped. Vikram Subburaj noted market frontrunning impacting Bitcoin. Solana and Cardano surged amidst varied altcoin movements.

Crypto Price Today: Bitcoin, Solana, Cardano, others fall up to 7%. Here's why

Major crypto tokens like Bitcoin traded lower due to negative ETF flows. Bitcoin fell by 3% to $62,322.09. Other cryptos like Ethereum (4.04%), XRP (2.97%), and Dogecoin were also affected.

For More Insights Visit ETMarkets Crypto Corner

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Tywin Lenister

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Jul 6, 2024, 1:26:33 AM (11 days ago) Jul 6

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