Kategorie: Bitcoin News

• Bitcoin reached the milestone on December 5
• Over the past 30 days, Bitcoin has increased in value by nearly 50% and 140% in YTD value
• It comes as President-elect Donald Trump named Paul Atkins as the next US SEC chair

Bitcoin has reached a new all-time high, hitting $100,000 for the first time, continuing its bull run since the start of November.

On December 5, Bitcoin broke the $100,000 milestone after getting within touching distance of the psychological level on November 22, at over $99,000. Data from CoinMarketCap shows Bitcoin reached more than $103,500 around 04:05 this morning.

At the time of publishing, Bitcoin is trading at around $101,000. Over the past 30 days, the crypto asset has risen nearly 50% in value while its year-to-date value has increased by 140%.

While there are underlying factors relating to Bitcoin’s price rise, Donald Trump’s presidential victory last month has given the asset a significant push. It also hasn’t hurt Bitcoin that Trump announced pro-crypto Paul Atkins as the next chair of the US Securities and Exchange Commission.

Trump has also picked Scott Bessent and Howard Lutnick to head the US Secretary of Treasury and Commerce departments.

Taking to X, Michael Saylor, CEO of MicroStrategy, said “there’s going to be a $100k party.”

Earlier this week, Saylor urged Microsoft to adopt Bitcoin saying it represents “digital capital.”

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• Virgin Voyages becomes the first cruise line to accept Bitcoin for bookings.
• Passengers can use Bitcoin to book for cruises including the upcoming Virgin Voyages’ Annual Pass.
• Virgin Voyages targets younger travellers with crypto adoption in a competitive market.

Virgin Voyages, the innovative cruise line founded by Sir Richard Branson, has announced that it now accepts Bitcoin (BTC) as a payment option for bookings.

This move makes Virgin Voyages the first cruise line to adopt crypto payments amid a growing trend in the travel and hospitality industries to embrace digital currencies.

Annual Pass cruise passengers can book using Bitcoin

According to Virgin Voyages’ announcement, passengers can now use BTC to pay for cruises across its fleet, including its highly anticipated “Annual Pass.” Virgin Voyages’ Annual Pass, which provides a variety of exclusive benefits to frequent travellers, is also the first cruise product to accept cryptocurrency payments.

This bold step highlights Virgin Voyages’ commitment to appealing to younger, tech-savvy travellers and digital asset enthusiasts, who are increasingly integrating cryptocurrency into their everyday transactions.

Notably, Virgin Voyages’ decision to accept Bitcoin comes at a time when other sectors of the travel industry are exploring cryptocurrency options.

Of late, airlines and hotels have started accepting crypto payments to capitalize on the growing interest in digital currencies. Platforms like Travala, a crypto-native travel service, have already partnered with major travel websites like Skyscanner to allow users to book over 2.2 million hotels using cryptocurrency.

Virgin Voyages’ ambition to become a unique cruise line

The move is part of a larger strategy by Virgin Voyages to differentiate itself in a competitive industry.

Founded in 2014 as a joint venture between the Virgin Group and Bain Capital, Virgin Voyages has consistently aimed to offer a modern, youthful alternative to traditional cruising. The company’s fleet, which includes the Scarlet Lady, Resilient Lady, and Valiant Lady, offers itineraries designed for a younger demographic, with shorter Caribbean cruises and exclusive experiences.

Virgin Voyages’ embrace of cryptocurrency is likely to further set the cruise line apart as it continues to push the envelope in customer service and innovation.

As digital currencies become more mainstream, Virgin Voyages’ decision to accept Bitcoin may inspire other cruise lines to follow suit in the near future.

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• Michael Saylor said Bitcoin represents the “greatest digital transformation of the 21st century”
• Saylor believes it “makes sense” for Microsoft to buy and hold Bitcoin rather than buy stock back or hold bonds
• Over the past five years, Saylor said that Microsoft has surrendered hundreds of billions of dollars of capital

Michael Saylor has told Microsoft that Bitcoin is the best asset a company should own, claiming it represents the “greatest digital transformation of the 21st century.”

Taking to X, Saylor, CEO of MicroStrategy, posted a three-minute video tagging Satya Nadella, Microsoft’s chair and CEO, and its board of directors. In the video, Saylor said:

“Microsoft can’t afford to miss the next technology wave, and Bitcoin is the next wave. Bitcoin represents the greatest digital transformation of the 21st century; it represents digital capital.”

Talking about long-term capital, Saylor noted that risk – including general taxes, politics, recession, regulation, war, and the weather – is destroying over $10 trillion in capital each year.

Because of this, investors are turning their attention to digital capital, such as Bitcoin, to avoid these risks. In Saylor’s view, “it makes sense” for Microsoft to buy and hold Bitcoin rather than buy back stock or hold bonds.

“If you’re going to outperform, you’re going to need Bitcoin,” Saylor said. “You’ve surrendered hundreds of billions of dollars of capital over the past five years, and you’ve just amplified the risks that your own shareholders face. If you want to escape that vicious cycle, you’re going to need an asset without counterparty risk.”

In Saylor’s opinion, that lies with Bitcoin.

MicroStrategy is fully behind Bitcoin

Since August 2020, MicroStrategy has been buying Bitcoin. Since then, the company now holds 402,100 Bitcoin, valued at more than $38.4 billion, according to MSTR-Tracker.

Earlier this month, MicroStrategy purchased an extra 51,780 Bitcoin, valued at $4.6 billion. In a post on X yesterday, Saylor posted that the company had bought an extra 15,400 Bitcoin at $95,976 per Bitcoin.

MicroStrategy has acquired 15,400 BTC for ~$1.5 billion at ~$95,976 per #bitcoin and has achieved BTC Yield of 38.7% QTD and 63.3% YTD. As of 12/2/2024, we hodl 402,100 $BTC acquired for ~$23.4 billion at ~$58,263 per bitcoin. $MSTR https://t.co/K3TK4msGp0

— Michael Saylor⚡️ (@saylor) December 2, 2024

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• Vancouver Mayor Ken Sim proposes Bitcoin as a reserve asset to protect purchasing power.
• Jeff Booth supports Ken Sim’s proposal, recognizing Bitcoin’s potential as a strategic asset.
• Former USA CFTC Chairman Giancarlo advocates for Bitcoin reserves, likening it to gold.

Vancouver Mayor Ken Sim has introduced a bold proposal to explore Bitcoin as a reserve asset for the city, aiming to diversify its financial resources and safeguard its purchasing power.

The motion, titled “Preserving the city’s purchasing power through diversification of financial resources: Becoming a Bitcoin-friendly city,” is scheduled to be officially presented to the Vancouver City Council on December 11, 2024. The proposal marks a significant shift toward cryptocurrency adoption by a major city government.

Protecting Vancouver from economic shocks using Bitcoin

In his motion, Mayor Sim seeks to investigate how Bitcoin could help protect Vancouver from economic volatility and inflation by adding it to the city’s reserves.

It comes amid growing interest in Bitcoin as a reserve asset at the government level, particularly in the United States. Several US lawmakers have recently proposed holding Bitcoin in public financial reserves, highlighting the increasing consideration of cryptocurrency in national economic strategies.

Although the full text of the proposal has not yet been made available, Bitcoin advocate Jeff Booth voiced support for Mayor Sim’s plan during a discussion on X Spaces on November 26, 2024. Booth described the motion as an important step in recognizing Bitcoin’s potential as a strategic financial asset for the city.

Former CFTC chairman supports a Bitcoin reserve in the USA

Meanwhile, Christopher Giancarlo, the former Chairman of the US Commodity Futures Trading Commission (CFTC), has been vocal about the potential for Bitcoin as a strategic reserve asset for the US.

In a recent interview, Giancarlo referred to Bitcoin as the “world’s first digital commodity,” noting its similarities to traditional commodities such as gold, oil, and copper, which nations have historically hoarded. He praised the idea of a national Bitcoin reserve, emphasizing its potential to provide long-term financial stability in an increasingly digital economy.

Giancarlo also acknowledged concerns about Bitcoin’s speculative nature but drew parallels to the dot-com bubble, where early-stage speculation gave way to technological breakthroughs that revolutionized industries. He believes the same evolution could occur with blockchain and Bitcoin technology, making it a forward-looking move for governments and financial institutions.

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• Bitcoin adoption could get another boost from Brazil.
• This is after a Brazilian Congressman introduced a bill proposing adoption of BTC as national reserve asset.
• US lawmakers are also pushing for a Bitcoin strategic reserve.

A Congressman in Brazil has introduced a Bitcoin reserve bill, adding the country to a growing list of nations looking to tap into the flagship cryptocurrency as a treasury reserve asset.

On Nov. 25, Brazilian Congressman Eros Biondini introduced a new proposal aimed at the creation of a Bitcoin (BTC) reserve in Brazil.

The proposal, titled ‘Bitcoin Sovereign Strategic Reserve (RESBit)’, outlines the benefits of adopting BTC as a national Treasury reserve asset. Diversification of the country’s assets and reduction of economic risk are part of the strategic plan. The bill also looks at the opportunity this would offer in terms of putting Brazil at the forefront of technological and financial innovation and development globally.

JUST IN: A bill to create a strategic #Bitcoin reserve has been introduced in Brazil’s Chamber of Deputies 🇧🇷 pic.twitter.com/0jh3hXaxCJ

— Bitcoin Magazine (@BitcoinMagazine) November 26, 2024

According to Biondini, RESBit will be critical to bolstering Brazil’s economic sovereignty if approved.

In this case, Biondini proposes a gradual addition of BTC to the strategic reserve coffers. The bill targets having Bitcoin form 5% of the country’s national reserves. The acquisition and management of this project will be under the Central Bank of Brazil, with purchased BTC stored in cold wallets.

During his campaign, US president-elect Donald Trump vowed to support a strategic Bitcoin reserve for the country. Since his election to office, and ahead of his inauguration in January, a lot has happened with regard to a US national bitcoin reserve. US senator Cynthia Lummis has spearheaded these efforts, with multiple industry players backing it.

If only there was a way to dig our nation out of debt while ensuring the strength of the U.S. dollar. Oh wait. #BITCOINAct

— Senator Cynthia Lummis (@SenLummis) November 19, 2024

This comes as other countries, including Argentina, Morocco, and Romania add to the overall bullishness around BTC adoption across the globe.

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