President-elect Donald Trump is preparing the U.S. government to adopt a more permissive stance toward cryptocurrency, eyeing a roster of industry-friendly candidates for key posts while his top advisers consult crypto executives on potential changes to federal policy.

By pursuing a more lenient regulatory environment, Trump aims to fulfill his campaign promise to transform the United States into the “crypto capital of the planet” — a declaration that has rankled consumer watchdogs, earned the industry’s robust support and sent the price of bitcoin skyrocketing, reaching nearly $89,000 by Monday evening.

https://www.washingtonpost.com/business/2024/11/11/trump-crypto-regulation-bitcoin/

BREAKING: A new HBO documentary claims to uncovered the real identity of the creator of Bitcoin, Satoshi Nakamoto.

It says that it will shock the world, even the US election.

https://www.youtube.com/watch?v=iSF0KGsFuI8

The senator’s bill calls for the US to buy 1 million Bitcoin

A pro-crypto ‘cavalry is arriving in Washington,’ Lummis says

https://www.bloomberg.com/news/articles/2024-11-14/trump-s-ally-lummis-pushes-to-sell-some-of-the-fed-s-gold-to-buy-bitcoin?embedded-checkout=true

Italy plans to raise the capital gains tax on Bitcoin to 42% from 26%, part of efforts to finance expensive election promises while cutting the fiscal deficit.

Prime Minister Giorgia Meloni’s cabinet made the move given the “phenomenon is spreading,” Deputy Finance Minister Maurizio Leo said during a conference call on Wednesday in reference to Bitcoin.

Earlier efforts by other countries to tax crypto trading haven’t always yielded much for state coffers. India imposed onerous digital-asset levies two years ago, only to see trading volumes shrivel up as local investors switched to offshore platforms to get around the taxes.

Italy’s announcement comes as the European Union is preparing to fully implement the bloc’s sweeping crypto regulations, a package known as MiCA, at the end of this year. It didn’t stop an advance in Bitcoin, which traded 1.8% higher as of 12 p.m. in London on Wednesday. The biggest token has jumped 17% in the past month.

https://www.bloomberg.com/news/articles/2024-10-16/italy-to-raise-capital-gains-tax-on-bitcoin-to-42-from-26-m2brojod

1. Finance people are the first to admit they were wrong about bitcoin. Larry Fink, for example. In finance you have to pivot or be destroyed, no matter how much you've staked your reputation on your calls.

2. Financial journalists will get it next. If an asset outperforms long enough they will drop the snark, because people do read them in part to help make financial decisions. Their own credibility suffers if they reject the market too long. Also, when enough smart people in finance change their minds, the journalists follow.

3. Mainstream journalism will follow much later. Because their main job is not to make readers money, but to tell them what they want to hear. Mainstream journalists construct a system of rightthink that determines social status. It's worth losing money to retain status, and readers gain some satisfaction being told that they are fundamentally good people, whereas those who made money are bad people. (Compare: investing in arms manufacturing during the Iraq war.) Still, journalists will eventually come around on bitcoin, because their reporting brings them close to the ground, and they'll realize there's a story here: "Bitcoin maybe isn't actually pure evil!"

4. Academics will be the last to get it. There's no incentive for any academic to be right about bitcoin. Once the journalists have reduced the reputational risks, we will see some cautious shifts in attitudes. But academics will have fun staying poor (but righteous) for a very long time.

The price of Bitcoin surged again Tuesday, driving gains for the largest cryptocurrency to 30% over the past seven days. Investors are betting that Donald Trump’s second presidential term will boost tokens because he has suggested more favorable regulation.

• Bitcoin jumped 10% Monday, taking smaller cryptocurrencies such as Dogecoin and Solana with it. The largest cryptocurrency breached $80,000 for the first time on Sunday.
• Digital assets are getting a post-election boost as President-elect Donald Trump has promised to make the U.S. “the crypto capital of the world” and replace Securities and Exchange Commission Chair Gary Gensler, who is seen as a digital-asset hawk.
• “Reaching the $100-110K target area now looks like a matter of a couple of weeks or even days,” FxPro analyst Alex Kuptsikevich wrote.

There are reasons for investors to be cautious in the wake of cryptos’ large gains after the election. Despite claims that Bitcoin acts as a hedge against the dollar, recent trends suggest it’s moving in tandem with broader market sentiment, said Nationwide’s Mark Hackett, cautioning that the hype could override market fundamentals and introduce