by uncannyfaith | Jan 4, 2025 | Cryptocurrency news and updates
Argentina’s Ramiro Marra Discusses Bitcoin and Monetary Freedom
In a recent podcast appearance, Ramiro Marra, a key advisor to Javier Milei in Argentina’s government, shared his unconventional perspective on the role of Bitcoin in the hands of the people. He challenged the notion of the State imposing the use of any particular currency, advocating instead for monetary freedom. Marra’s remarks highlighted his belief in a competitive currency system, where citizens can freely choose their preferred medium of exchange, whether it be Bitcoin, the Dollar, Peso, Euro, or any other currency.
The Case for Currency Competition in Argentina
According to Marra, Argentina already has a system that allows exchange rate competition. This means residents can conduct transactions in the currency of their choice. He argued that state-imposed currencies infringe upon individual freedoms and result in higher losses for the population due to limited choices.
Marra stated that state intervention is unnecessary when it comes to choosing an official currency. “Here in Argentina, I believe there’s no need for an official currency because the State determines it. But which one do people truly want? We promote a system of monetary competition,” he explained.
Bitcoin’s Role in a Free Economy
During his interview on a podcast hosted by Adrián Sáenz, Marra elaborated on his anti-state views concerning Bitcoin. He stated that governments should refrain from imposing definitions on Bitcoin, emphasizing that people should have the liberty to use it freely—whether as a currency or financial asset.
“I don’t want to label it as a financial asset. Everyone should treat it however they wish. People should choose to use Bitcoin, Argentine Pesos, Dollars, or Euros. The important thing is freedom. When someone imposes something on you, they take away your freedom. We encourage a competitive currency system,” Marra noted.
He further highlighted how technology has made it easier for individuals to use Bitcoin in transactions. “If I want to shop at a supermarket and pay with Bitcoin, I should be able to do so. Similarly, vendors should have the freedom to decide which currency they accept in exchange,” Marra said.
A Longstanding Bitcoin Advocate
This isn’t the first time Marra has come out in support of Bitcoin. As far back as October 2024, when Bitcoin reached historic price levels, he publicly championed the digital currency as a symbol of financial independence.
In a statement on social media, Marra emphasized, “Bitcoin is more than a price; it’s freedom. It doesn’t depend on governments or fuel political excesses. Bitcoin belongs to the people, without intermediaries. Economic independence lies in the hands of individuals.”
Bitcoin as a Symbol of Freedom
Marra’s narrative aligns Bitcoin with the concept of self-ownership and independence, advocating for a world free from government-dictated currencies. He believes that the rise of Bitcoin represents a revolution of personal liberty, especially in countries where state-controlled currencies are plagued by inflation and mismanagement.
Marra’s staunch defense of Bitcoin as a tool of freedom speaks to a broader global conversation about the future of money. His vision offers an alternative for those who wish to escape the constraints of centralized monetary systems and explore the possibilities of decentralized finance.
By allowing individuals to choose how they trade and what currencies they use, Marra envisions an economic system fueled by innovation, technology, and personal choice, where freedom, not state control, drives progress.
by uncannyfaith | Jan 4, 2025 | Cryptocurrency news and updates
**Bitcoin Spot ETFs Witness Record Inflows as Price Hits $98,000**
On January 3, 2025, Bitcoin spot ETFs witnessed a record-breaking daily inflow of $908 million, marking the highest amount since late November 2024. This surge signals renewed interest from institutional investors after the typical holiday slowdown.
The **Fidelity FBTC fund** led with $357 million, followed by **BlackRock’s IBIT**, which attracted $253 million. **ARKB by ARK Invest and 21Shares** secured $222 million, while **BITB from Bitwise** accumulated $61 million. Smaller contributions came from **Grayscale’s BTC fund ($8.7 million)** and **VanEck’s HODL ($5.5 million)**.
For the week following Christmas, net inflows for spot Bitcoin ETFs amounted to $244 million.
## **Bitcoin Price Growth and Market Sentiment**
On the night of January 3-4, Bitcoin’s price surged to $98,000, marking a 2% gain in a single day. This positive momentum reignited optimism among traders, with some expecting further gains in the coming days.
However, not all analysts shared the bullish sentiment. A prominent trader under the pseudonym **Scient** stated that without surpassing $99,000 and finding strong support, a price correction might be imminent. He predicted a potential drop to the $88,000–$90,000 range in January.
**Crypto Tony**, another investor, supported this outlook, suggesting a brief “relieve wave” potentially followed by a dip near $90,000. Meanwhile, **Daan Crypto Trades** tempered expectations, highlighting that the first full week of 2025 would provide clearer insights into short-term trends.
## **Institutional Activity and Market Indicators**
The recent inflow shift suggests that institutional investors are regaining confidence after the year-end sell-off. BlackRock’s $253 million purchase, coupled with significant contributions across multiple ETFs, indicates “big money” returning to Bitcoin markets.
Despite this optimism, not all signals point to overwhelming institutional demand. Analysts observed that **Coinbase’s premium recently dropped to a 12-month low (0.237)**. This, according to experts, reflects cautious behavior among U.S. investors and restrained institutional appetite at current levels.
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These developments signify that Bitcoin’s trajectory remains a closely contested issue among traders and analysts. While some foresee further growth, others remain cautious about the sustainability of recent gains. As the year progresses, institutional activity and other key metrics will likely dictate price movements.
**Stay tuned for more updates on Bitcoin and digital asset markets.**
by uncannyfaith | Jan 4, 2025 | Cryptocurrency news and updates
Japan’s Efforts Toward Crypto Asset Tax Reform: Addressing Separate Taxation for Capital Gains
Over the past three years, Japan has made significant progress in reforming its tax system concerning crypto assets (virtual currencies). These advancements have aimed to alleviate tax-related barriers, particularly for startups and self-issued tokens. However, one of the most pressing challenges still remains: the taxation system for capital gains from cryptocurrency transactions.
Currently, any profits earned through virtual currency transactions are categorized as "miscellaneous income" under Japan’s tax framework. This means they are subject to comprehensive taxation, which combines these gains with other incomes, such as employment income. This approach places crypto traders and investors under heavy tax burdens, with a maximum tax rate of up to 55% (inclusive of resident tax)—a notably high rate compared to global standards.
Such a system poses significant challenges for the nation’s crypto economy, as it discourages promising talent, investors, and startups from actively participating in Japan’s market. Many are calling for reforms to introduce separate taxation for crypto-related capital gains in order to create a more competitive and innovation-friendly environment. Addressing this issue is crucial for fostering growth within the country’s crypto ecosystem and retaining its human capital.
Japan’s journey toward optimizing its crypto tax policies will play a pivotal role in shaping the future of its digital asset economy.
by uncannyfaith | Jan 4, 2025 | Cryptocurrency news and updates
Key Takeaways:
– Bitcoin ETFs in the U.S. saw a substantial rebound with $908 million in net inflows on Friday, following a $242 million outflow just the day before.
– Fidelity’s Bitcoin Fund led the inflows, amassing $357 million, followed by BlackRock and ARK Invest funds, which also posted significant gains.
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### U.S. Bitcoin ETFs Experience Major Inflows
U.S. spot Bitcoin ETFs witnessed a significant turnaround on Friday, drawing $908 million in net inflows after suffering a $242 million outflow the previous day. This recovery highlights the growing investor interest in Bitcoin-backed financial products.
Leading the charge was Fidelity’s Bitcoin Fund (FBTC), which recorded a daily net inflow of $357 million—one of its strongest performances since inception. FBTC has now amassed over $12 billion in investments as of early January.
BlackRock’s iShares Bitcoin Trust (IBIT) also played a pivotal role in the recovery, bringing in $253 million after experiencing three consecutive days of outflows. The trust’s total net inflows now stand at $37 million, with holdings of 548,506 Bitcoin valued at $53.4 billion. ARK Invest’s ARKB fund saw $222 million in inflows, marking another strong day in the Bitcoin ETF space.
Other notable gains came from funds managed by Bitwise, Grayscale, and VanEck, while some ETF providers reported no activity.
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### Bitcoin Breaks Above $98,000
The recent surge in demand has helped push Bitcoin prices higher. On Friday, the cryptocurrency surpassed the $98,000 mark, climbing to $98,900—the highest level since late December. Bitcoin has now risen by 4% over the past week, signaling strong momentum heading into the year.
Analysts remain optimistic, predicting a bullish trajectory for Bitcoin fueled by increasing institutional and governmental adoption. According to market forecasts, more companies and nations are expected to integrate Bitcoin into their portfolios in the near future.
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### Bright Outlook for Bitcoin ETFs
Experts anticipate continued growth in the Bitcoin ETF market, with projections suggesting that U.S. spot Bitcoin ETFs could reach $250 billion in assets under management in the coming years.
Jan van Eck, CEO of VanEck, has recommended that investors prioritize Bitcoin and gold through 2025. These assets are seen as robust hedges against inflation, economic uncertainty, and global trends such as de-dollarization.
In line with this outlook, Bitcoin is projected to rise substantially, with some estimates placing its value between $150,000 and $170,000 in the foreseeable future.
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By building on its expanding institutional acceptance, Bitcoin continues to cement its position as a crucial asset class in the broader financial landscape. As ETF inflows surge and prices climb, the cryptocurrency looks poised for a promising year ahead.
by uncannyfaith | Jan 4, 2025 | Cryptocurrency news and updates
Unlocking Web3’s Potential: Overcoming Barriers to Mass Adoption
In today’s interconnected world, mobile technology serves as a vital lifeline, linking billions of people globally to the internet and digital economies. With more than 8.5 billion mobile phones in use—exceeding the world’s population—smartphones are essential tools for communication, financial management, and commerce. However, while Web3 holds immense potential to revolutionize industries and financial systems, it has yet to achieve mass adoption due to several barriers.
For Web3 to transition from a promising innovation to a global necessity, it must address critical challenges limiting its accessibility and usability. Let’s explore those hurdles and opportunities.
1. Bridging the Mobile Gap in Web3
The dominance of smartphones in global internet usage is clear: over 92% of internet users connect via mobile devices. Despite this, a significant portion of Web3 applications remains tailored to desktop environments. Only a fraction of the top 100 decentralized applications (dApps) offer mobile-native experiences.
This limitation disproportionately impacts emerging markets, where mobile phones are often the sole gateway to digital connectivity. For instance, in countries like India, Vietnam, the Philippines, and South Africa, over 70% of adults rely exclusively on mobile devices for internet access.
The solution lies in a mobile-first approach. Blockchain ecosystems like Celo are already paving the way by designing mobile-friendly projects such as digital wallets and payment systems. With nearly 700,000 daily active addresses using stablecoins on Celo, the demand for practical, mobile-centric solutions is unmistakable. Similarly, initiatives like Opera MiniPay have amassed millions of users across Africa, making digital finance accessible through user-friendly, mobile-based tools.
2. Simplifying User Interfaces
One of the biggest hurdles to Web3 adoption is the complexity of its user interfaces. For mainstream users accustomed to Web2’s simplicity, managing cryptocurrency wallets, seed phrases, and private keys can feel intimidating.
Research suggests that over two-thirds of internet users reuse passwords for multiple accounts. This habit illustrates how unfamiliar security requirements for Web3 users could discourage adoption. Complicated onboarding experiences often worsen this gap—nearly 25% of Web3 users cite poor design as a major barrier.
To overcome this, Web3 platforms must prioritize intuitive and secure designs, making it easier for new users to get started. By addressing these pain points, Web3 has the opportunity to create gateways that welcome people into blockchain-based ecosystems.
3. Raising Awareness and Education
Despite its transformative potential, awareness of Web3 remains limited. Surveys reveal that only 8% of the global population is familiar with Web3 concepts. This lack of understanding is hindering adoption, especially in regions where decentralized technologies could have the greatest impact.
In emerging markets, where an estimated 1.4 billion people lack access to traditional banking services, Web3 offers solutions for challenges such as financial exclusion and currency instability. However, without sufficient education, many people are unaware of these benefits.
Educational programs like Learn & Earn initiatives are already driving change. For example, efforts in Nigeria, Vietnam, South Africa, and Brazil empower users to explore stablecoin use cases like international payments, secure remittances, and savings, all through mobile-friendly apps. By offering practical knowledge and hands-on experiences, such programs help demystify Web3 and encourage real-world adoption.
4. Addressing the Digital Divide
Access to the digital economy is closely tied to internet connectivity. Unfortunately, nearly 2.7 billion people globally still lack consistent internet access, often due to the high cost of infrastructure upgrades and devices.
In emerging markets like Brazil, Turkey, and Vietnam—areas experiencing growing crypto interest—affordability remains a key challenge. Many individuals own mobile devices but cannot afford to upgrade their technology for seamless Web3 integration.
Innovative partnerships, like one offering affordable Web3-enabled smartphones in 40+ countries across Africa, Southeast Asia, and Latin America, are helping address the digital gap. By lowering costs and enabling connectivity, these initiatives bring blockchain technology within reach for underserved communities.
5. Moving Beyond Speculation: Real-World Stablecoin Use
Historically, Web3 has been associated primarily with speculative investments. However, the recent rise in stablecoin adoption reflects a promising shift toward practical applications.
Stablecoins, pegged to fiat currencies like the U.S. dollar, provide stability for use cases such as daily transactions, cross-border payments, and savings. This reduces the volatility risk often associated with cryptocurrencies, making stablecoins more appealing to everyday users.
For example, stablecoins serve as a "bank in your pocket" in regions with limited banking infrastructure. Programs that encourage stablecoin earnings and transactions—especially via mobile apps—show how Web3 can deliver meaningful value, particularly in underserved areas.
By emphasizing stability and utility, stablecoins demonstrate that Web3 can go beyond speculation and create financial empowerment for users worldwide.
The Path Forward: Embracing Mobile for Global Impact
Web3 is at a pivotal crossroads. To achieve widespread adoption, the blockchain community must address the critical barriers of accessibility, awareness, and complexity. At the core of solving these challenges is the embrace of mobile technology.
With most users accessing the internet through smartphones, developing mobile-first Web3 solutions is not just advantageous, it’s essential. Ignoring this shift risks confining Web3 to a niche audience. However, by creating seamless, user-friendly, and mobile-centric experiences, the industry can unlock its "Apple moment"—transforming Web3 from a groundbreaking innovation into a truly mainstream phenomenon.
Through inclusive design, educational outreach, and affordability, Web3 can redefine global access to financial tools, empowering millions and reshaping the future of digital interactions. The momentum is building—now is the time to take the leap.
By adopting these strategies, Web3 holds the potential to revolutionize how the world interacts with technology, closing accessibility gaps and fostering financial inclusion on a global scale.
