As the current market sentiment is showing that we’re going into a bear market but is that completely true?
The BTC is still + 6000% since the last crisis caused by covid.
El Salvador’s recent move has certainly stirred up a lot of questions and concerns from the IMF and the world bank, but other countries in Latin America want to follow the trend.
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In other news, here are this week’s updates:
1. Paul Tudor Jones recommends 5% diversification in BTC
Legendary investor Paul Tudor Jones recently upped his Bitcoin allocation from 1-2% to 5% in an interview with CNBC.
He also spoke about the importance of going “all in on inflation trades” if money printing continues.
2. Hedge Funds expect a portion of asset holdings in crypto
According to a recent survey by Intertrust, Hedge funds will most likely hold at least 7.2% of their assets in crypto within a 5-year timeframe.
This amounts to approximately $312 billion at the time of this writing and would pose a significant growth in institutional allocations.
3. Panama wants to adopt Bitcoin as legal tender
After El Salvador’s brave move to adopt a Bitcoin economy, Panamanian Congressman Gabriel Silva announced that he will present a bill in July that he hopes will lead to making bitcoin legal tender in the country.
4. Musk hints at continuation of Tesla’s BTC payments when mining becomes sustainable
Bitcoin had a bullish week going back to the $39,000-$40.000 level, shortly after Elon Musk said that Tesla would accept bitcoin once mining is done at least 50% using clean energy by miners.
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Comment by jetonwhy
February 16, 2025
Anyone else finding it weird that Deriv only allows deposits through Jeton and not bank transfers? They’ve removed crypto too, so now it’s just cards and Jeton. Kinda frustratin...