⚠️ Bitcoiner Kidnapped

Bitcoin Strategic Reserve & Potential Fed Rate Cuts                                                                                                                                                                                                                                                                                                                                                                                                                 August 01, 2024 | [Read Online]( ⚠️ Bitcoiner Kidnapped Bitcoin Strategic Reserve & Potential Fed Rate Cuts [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Bitcoin%20Minimalist&body=%E2%9A%A0%EF%B8%8F%20Bitcoiner%20Kidnapped%20%20%3A%20Bitcoin%20Strategic%20Reserve%20%26%20Potential%20Fed%20Rate%20Cuts%0A%0Ahttps%3A%2F%2Fbitcoinminimalist.com%2Fp%2Fbitcoiner-kidnapped) First time reading? I’m [Jordan](, and this is The Bitcoin Minimalist. Every Tuesday & Thursday, we scour 100s of sources to bring you need-to-know Bitcoin insights. Today we’re covering: - U.S. proposes Bitcoin strategic reserve, - Bitcoiner kidnapped & killed, $170,000 stolen, - Fed Chair Powell hints possible rate cut, - And everything else you need to know. —Jordan Bitbo launched Bitbo Pro! Get our monthly reports & analysis to know EXACTLY what’s happening with Bitcoin and its price. Get alerts when the BTC price hits key highs and lows, and more charts & data you can’t get anywhere else! [START BITBO PRO FREE TRIAL]( WHAT WE’RE WATCHING 🏛️ [Sen. Cynthia Lummis introduced the Bitcoin Strategic Reserve bill in the Senate.](The bill proposes the U.S. purchase 1 million Bitcoin (5% of its total supply) as a strategic reserve asset. The bill aims to establish secure Bitcoin vaults under the Treasury's control, with strict cybersecurity measures. 🪙 [Over 41.5% of Mt. Gox Bitcoin, approximately 59,000 BTC, has been distributed to creditors.]( Despite receiving nearly $4 billion in Bitcoin, many creditors continue to hold their assets. This indicates a shift back to hodling, [with 65.8% of Bitcoin supply inactive for over a year](. 🚨[In Kyiv, four suspects were arrested for kidnapping and murdering a Bitcoiner, stealing $170,000 worth of Bitcoin.]( The victim, a 29-year-old foreign national, was forced to transfer BTC before being killed. The suspects face charges including murder and robbery, with potential life imprisonment. 🇷🇺 [Russia has passed a law allowing Bitcoin payments for international trade, effective September.](This move aims to bypass Western sanctions imposed post-Ukraine invasion. The central bank will oversee an "experimental" infrastructure for these payments, with transactions starting by year's end. Domestic Bitcoin payments remain banned. 📉 [Fed Chair Jerome Powell indicated a potential rate cut in September if economic conditions align.](The Fed held rates at 5.25%-5.50%, with inflation easing and employment risks balanced. Powell emphasized decisions would be data-driven, not politically influenced, amid Republican concerns about election timing. 🌍 [Bitcoin fell below $65K amid rising Middle East tensions following Iran's reported retaliatory attacks on Israel.]( This drop occurred after the Fed's meeting, where interest rates were left unchanged. Bitcoin decreased over 2% in 24 hours, while traditional assets like gold and oil surged. IN THE LOOP - Bitcoin's hashrate [surged]( in July. - Donald Trump [promoted]( Bitcoin-themed sneakers after his Bitcoin 2024 speech. - Wisconsin [launched]( a tracker to combat Bitcoin fraud based on consumer complaints. - Tether [reported]( $5.2 billion in profits and $97.6 billion in U.S. debt holdings. - Bitcoin's mining difficulty [surged]( 10.5% to a record 90.67 trillion. - The Bank of England [cut]( interest rates to 5% for the first time since 2020. WHALE ACCUMULATION SURGE Large Bitcoin Holders Accumulate $5.4B in July Whale Accumulation: I[n July, large Bitcoin holders accumulated over 84,000 BTC](, worth $5.4 billion at current market prices. Record-High: This marks the most significant single-month acquisition since October 2014, indicating a surge of confidence among large holders who skillfully navigate market volatility, according to CoinDesk. Strategic Accumulation: Addresses owning at least 0.1% of Bitcoin’s circulating supply participated in strategic accumulation, signaling strong confidence in an eventual bullish breakout from the prolonged consolidation phase between $50,000 and $70,000. Bullish Sentiment: Jag Kooner, Head of Derivatives at Bitfinex, noted that a potential Federal Reserve rate cut in September could increase liquidity and drive investors toward Bitcoin. Federal Reserve Outlook: Federal Reserve Chair Jerome Powell recently indicated that interest rates might be cut as early as September, contingent on favorable economic data. The central bank maintained its benchmark interest rate at 5.25%-5.50%, aiming for a "soft landing." POLL If the Federal Reserve cuts rates in September, how do you expect Bitcoin's price to react? [Increase]( [Decrease]( [Remain stable]( [Unsure]( [Fed doesn't matter, only Bitcoin's scarce supply]( TUESDAY’S POLL RESULTS Will the US government actually create a Bitcoin reserve within the next few years? 👍 [Yes, everything points to US Bitcoin Reserve]( - 71.4% 👎 [No, politicians are just trying to get votes]( - 25.0% Other - 3.6% 👍 Yes - “They have a once in a lifetime chance to do something good, and I still believe in people. So YES - it's happening.” - Tim 👍 Yes - “It’s the only hope for balance in the future of the US dollar.” - Patrick 👍 Yes - “Very popular way forward” - Chris Other - “With the deflationary effect, increased purchasing power, smaller and smaller governments, peace on the planet... yeah, anything is possible.” - Jeremy VIDEO [Check out my video explaining Bitbo Pro’s features.]( I’m building the Bitcoin analytics I wish I had when I first got into Bitcoin! Feature or suggestion? Email us at info@bitbo.io. CHARTS & DATA Hash Rate - [Bitcoin’s hash rate hit an estimated all-time high on July 26](, and appears to be growing fast. 90.67 Trillion - [Bitcoin’s mining difficulty adjusted]( and hit all-time high of 90.67 T. 98 - The number of days that [Bitcoin has been higher than its current price](. New Bitbo Charts Never miss Bitbo's newest charts. Get an email when we post new charts. [Subscribe]( MORE FROM OUR COMPANY The Bitcoin Minimalist is run by Bitbo. Browse our most popular pages across our sites: [Bitbo Dashboard](: View live price action, monitor on-chain data, and track key economic indicators - all for free. [Bitbo Pro:]( Analytics & intelligence to supercharge your Bitcoin investing & trading. [Bitbo Charts:]( Useful Bitcoin charts, featuring on-chain metrics and other Bitcoin analysis. [Bitbo Store:]( Shirts, hats, hoodies, mugs, and other merch for Bitcoiners. [Halving Clock:]( Track the countdown to the Bitcoin halving with our Bitcoin halving clock. Share Bitcoin Minimalist You currently have 0 referrals, only 1 away from receiving Free Report: Why Bitcoin Will Continue to Grow. [Free Report: Why Bitcoin Will Continue to Grow]( [Click to Share]( Or copy and paste this link to others: [tw]( [yt]( Update your email preferences or unsubscribe [here]( © 2024 Bitcoin Minimalist / Wallabit Media LLC 1209 Mountain Road Pl NE Ste R Albuquerque, NM 87101, United States of America [Terms of Service](