Kategorie: Bitcoin News

Bitcoin news about the Bitcoin (BTC) blockchain and its crypto ecosystem.

Veröffentlicht am

The Runes marketplace and launchpad Odin.fun will replicate Pump.Fun

  • fun is set to replicate Pump.fun on Bitcoin.
  • fun aims to offer a 20-second finality for Rune trades.
  • The platform will be decentralized with no central control.

The highly anticipated Runes marketplace and launchpad dubbed Odin.fun is set to revolutionize the Bitcoin ecosystem by emulating the success of Solana’s Pump.fun.

Developed by the team behind the Bitcoin ordinals marketplace Bioniq, Odin.fun aims to provide a seamless experience for Bitcoin users interested in Runes, a new token standard on the Bitcoin blockchain.

Direct integration with Bitcoin Runes

Odin.fun stands out by directly working with the existing Runes meta-protocol, ensuring there’s no need for additional upgrades or programmability. This approach not only simplifies the user experience but also maintains the integrity of the Bitcoin network.

Users can engage in buying, selling, creating, and swapping Runes with transactions finalized in just 20 seconds, offering the speed of Solana with the robustness of Bitcoin.

Moreover, all bonded tokens can be withdrawn directly back to a user’s Bitcoin wallet at any time, with plans to expand support to BRC-20 tokens in the near future.

The platform’s commitment to decentralization is evident through its use of a threshold signing setup (TSS) for securing Bitcoin and Runes deposits, mirroring the strategies used by other decentralized systems.

By employing multisig smart contract control, Odin.fun eliminates the need for centralized custodians or control, thus providing a trustless environment for users to trade and interact with Runes.

Redefining Layer 2 on Bitcoin

Bob Bodily, co-founder and CEO of Bioniq, describes Odin.fun not as a traditional Layer 2 solution but as an appchain or an L2 in the broader sense of building seamless Bitcoin products.

This innovative perspective allows Odin.fun to offer functionalities akin to Layer 2 solutions without the complexities often associated with them on Bitcoin. The underlying technology stack, named Valhalla, operates invisibly, supporting all current and future features of Odin.fun.

Odin.fun’s capabilities are further enhanced through its integration with BLIFE, a platform designed to enrich user experiences across various blockchain applications. This integration means that BLIFE users receive exclusive benefits on Odin.fun, can complete Odin-related quests on the BLIFE platform, and their achievements on Odin.fun contribute to their BLIFE reputation.

This synergy promises to not only boost user engagement but also foster a more interconnected blockchain ecosystem.

When is Odin.fun launching?

Currently, Odin.fun is in an early access beta, requiring an invite code for participation. However, this exclusivity will soon end as the platform prepares for a public launch on Monday, February 3, 2025, making it accessible to everyone interested in exploring the potential of Bitcoin Runes.

The launch is anticipated to democratize access to the burgeoning Runes market, potentially replicating the meme coin frenzy seen with Pump.fun on the Solana network.

The post The Runes marketplace and launchpad Odin.fun will replicate Pump.Fun appeared first on CoinJournal.

Veröffentlicht am

Sam Bankman-Fried’s parents are seeking a presidential pardon from Trump

  • Joseph Bankman and Barbara Fried have met with lawyers and members of president Donald Trump’s administration
  • Trump has already pardoned Silk Road creator Ross Ulbricht who served 12 years in prison
  • Early Bitcoin investor Roger Ver, who faces a 109-year prison sentence, has also asked Trump to help him

The parents of former FTX CEO Sam Bankman-Fried are seeking to get their son a presidential pardon from Donald Trump.

Stanford law professors Joseph Bankman and Barbara Fried have reportedly met with lawyers and members of Trump’s administration. According to Bloomberg, the pair hopes to receive clemency for their son, who is serving a 25-year prison sentence.

Bankman-Fried was sentenced last March after being found guilt of fraud. The platform filed for bankruptcy in 2022.

Pardoning Ulbricht

The move comes as Trump gave a presidential pardon to Silk Road creator Ross Ulbricht in the first week of entering the White House.

During his presidential campaign, Trump promised that he would release Ulbricht – who served 12 years in prison – if he was re-elected as president.

According to the report, Bankman-Fried previously called his sentence “draconian” despite FTX customers having recovered most of their money. In December, it was reported that the crypto exchange would begin repaying customers in early January.

Gary Wang, FTX co-founder, avoided a prison sentence in November with judge Lewis Kaplan sentencing him to time served. Nishad Singh, an ex-FTX executive, also avoided a prison sentence.

However, Caroline Ellison, the former CEO of Alameda Research – the sister company to FTX – received a 24-month prison sentence in September.

Last Sunday, early Bitcoin investor Roger Ver posted a video message on X calling on Trump to help him avoid a prison sentence of up to 109 years. In his message, Ver wrote: “Mr. President, I am an American, and I need your help. Only you, with your commitment to justice, can save me @realDonaldTrump.”

The post Sam Bankman-Fried’s parents are seeking a presidential pardon from Trump appeared first on CoinJournal.

Veröffentlicht am

Bitcoin price prediction 2025 – Will institutional inflow drive growth?

The cryptocurrency market was bullish in 2024. Bitcoin, the leading cryptocurrency by market cap, added over 140% to its value last year, outperforming other major assets, including Gold (26%) and S&P 500 (23%). 

Last year’s rally saw Bitcoin break past the $100k mark for the first time in its history. This article will explore Bitcoin’s price performance so far this year and how far it can go. 

Bitcoin Hit a New All-time High on Jan. 20

New year, same Bitcoin. The leading cryptocurrency by market cap continued where it left off in 2024. The Bitcoin price surged to a new all-time high on January 20th after hitting the $109,114 mark. 

The market has been volatile since then, with BTC slipping below $98k on Monday, January 27th. However, it has since recovered and now trades above $102k per coin. If the bullish momentum resumes, Bitcoin could set a new all-time high in the coming weeks or months. 

How High Can Bitcoin Go?

Bitcoin has already set a new all-time high in 2025, but many analysts believe it could go higher in the coming months. The predictions differ, ranging from $150,000 to $250,000.

However, some macroeconomic factors could determine how high Bitcoin’s price could go in 2025. Here are the factors.

inflation/ Interest rate

The inflation and interest rates in the United States usually play a huge role in the Bitcoin price outlook. A low inflation rate will see the Federal Reserve decrease interest rates to stimulate the economy and try to raise inflation levels to their target range. The lower the interest rates, the higher the price of assets like Bitcoin and Gold. 

The Federal Reserve is expected to cut interest rates twice in 2025, which could be bullish for Bitcoin and other major assets.

Retail and Institutional Adoption

2024 saw significant liquidity from institutional investors into Bitcoin and the trend could continue this year. Michael Saylors’ MicroStrategy leads the way and has already spent billions of dollars this year in adding bitcoins to its holdings.

Thanks to the launch of Bitcoin ETFs last year, more players are also getting into Bitcoin. BlackRock’s ETF, now the fastest-growing in history, has simplified access for institutional investors. The growing participation indicates Bitcoin’s appeal to retail and institutional players. 

A Possible U.S. Strategic Reserve

There are talks of a possible digital assets strategic reserve in the United States. Donald Trump’s activeness in the crypto space in recent months has amplified this prediction.

If the United States launches a digital assets reserve with Bitcoin at the helm, BTC’s price could surpass the $200k average prediction in 2025. 

Top Analysts Forecasts

Bitcoin has gone mainstream, so several leading analysts in the global financial markets are focusing on it. Some of these analysts shared their predictions for the Bitcoin price in 2025. 

Markus Thielen, head of research at Matrixport, is bullish on BTC’s price prediction, setting it at $160,000 before the end of the year. He told CNBC that,

“This outlook is supported by sustained demand for Bitcoin ETFs, favorable macroeconomic trends, and an expanding global liquidity pool. Bitcoin’s growing base of dip buyers and robust institutional support is expected to mitigate severe corrections.”

Alex Thorn, head of research at crypto-focused asset manager Galaxy Digital, is also bullish, predicting BTC’s price to hit $185k in 2025. He said,

“A combination of institutional, corporate, and nation-state adoption will propel Bitcoin to new heights in 2025. Throughout its existence, Bitcoin has appreciated faster than all other asset classes, particularly the S&P 500 and gold, and that trend will continue in 2025. Bitcoin will also reach 20% of Gold’s market cap.”

Finally, Geoffrey Kendrick of Standard Chartered expects institutional flows into Bitcoin to continue, predicting Bitcoin’s price could hit $200,000 in 2025. He stated that,

“Even a small allocation of the USD 40tn in US retirement funds would significantly boost BTC prices. We would turn even more bullish if BTC saw more rapid uptake by US retirement funds, global sovereign wealth funds (SWFs), or a potential US strategic reserve fund.”

Bitcoin has already hit a new all-time high in 2025. Do you see it going higher or do you predict a market correction in the coming months?

The post Bitcoin price prediction 2025 – Will institutional inflow drive growth? appeared first on CoinJournal.

Veröffentlicht am

El Salvador approves new bill to comply with IMF deal

  • The reform passed with 55 votes, with only two against
  • El Salvador became the first country to accept Bitcoin as legal tender in 2021
  • In December, El Salvador announced it was changing its Bitcoin law to secure a $1.3bn loan from the IMF

El Salvador’s Congress has approved a bill to change its Bitcoin law to comply with a deal it struck with the International Monetary Fund (IMF).

On January 29, Reuters reported that the bill was approved minutes after President Nayib Bukele sent it.

The reform passed with 55 votes, with only two against. Under El Salvador’s Bitcoin law, it required businesses to accept Bitcoin if they were able to do so. Ruling party lawmaker Elisa Rosales said it was required to ensure Bitcoin’s “permanence as legal tender” while facilitating its “practical implementation.”

Legal tender

El Salvador became the first country to accept Bitcoin as legal tender in 2021. At the time, it was reported that all businesses must accept Bitcoin. The move soon attracted the attention of the IMF.

Following El Salvador’s adoption of Bitcoin in 2021, the IMF sent a statement in November 2021 “recommend[ing] narrowing the scope of the Bitcoin law” while “strengthening the regulation and supervision of the new payment system.”

This was again called for in January 2022, when the IMF advised El Salvador to reconsider its decision to make Bitcoin the country’s legal tender. More recently, the IMF recommended that El Salvador limit the public’s exposure to Bitcoin.

New deal

In December, El Salvador changed its Bitcoin plans to secure a $1.3 billion loan from the IMF.

Under the plans, El Salvador would change a legal requirement making businesses accept Bitcoin as payment, making it optional instead. The government would also reduce the budget deficit by 3.5% of GDP over three years through spending cuts and tax rises while boosting reserves from $11 billion to $15 billion.

The deal is also expected to unlock a further $1 billion in lending from the World Bank and $1 billion from the Inter-American Development Bank over the next few years.

The post El Salvador approves new bill to comply with IMF deal appeared first on CoinJournal.

Veröffentlicht am

Czech National Bank governor wants to invest in Bitcoin

  • If the plan is approved, the CNB could hold up to five percent of its €140 billion reserves in Bitcoin
  • Michl believes the Bitcoin trend will continue even without the Trump administration
  • The governor said he’s open to Bitcoin ending up becoming worthless

The governor of the Czech National Bank has said that he’ll present a plan to the board to invest in Bitcoin as a way for the bank to expand its reserves.

In an interview with the Financial Times, governor Aleš Michl, who is expected to present the plan on Thursday, said: “For the diversification of our assets, Bitcoin seems good.”

If the board approves the plan, the bank could hold up to five percent of its €140 billion ($146 billion) reserves in Bitcoin.

Trump impact

Michl also pointed to US President Donald Trump’s impact on the crypto market. Last week, Trump signed an executive order for a crypto working group to provide regulatory clarity on crypto. It’s also expected to look into a national Bitcoin stockpile.

Despite believing that the Trump administration could “create some bubble for Bitcoin,” Michl added that the Bitcoin trend “would be an increase without those guys as well, because it’s an alternative [investment] for more people.”

Since being re-elected to the White House, Trump has appointed several pro-crypto candidates to top positions. Paul Atkins is expected to become the chair of the US Securities and Exchange Commission (SEC), a position previously held by Gary Gensler.

Wider investor interest

Michl pointed to the increased investor interest, thanks to the introduction of US spot Bitcoin exchange-traded funds (ETFs) last January.

Yet, while the governor is presenting a plan to the board, he said that he was open to Bitcoin becoming worthless.

“It’s possible to have a big range of outcomes, that Bitcoin will have a value of zero or an absolutely fantastic value . . . but in our history we have also had some stocks like Enron or the payment company Wirecard, so we have some experience with bad investments, so, yes, I’m ready [for a possible Bitcoin collapse].”

The post Czech National Bank governor wants to invest in Bitcoin appeared first on CoinJournal.