In a landmark move for cryptocurrency adoption, S&P Global Ratings has assigned its first credit rating to a Bitcoin-backed company. The ‘B-‘ rating for Michael Saylor’s Strategy Inc marks Bitcoin’s formal entry into the global credit system. This development could unlock trillions in institutional capital previously barred from crypto exposure, fundamentally reshaping how traditional markets value digital assets.
about S&P Rates Bitcoin-Backed Debt, Opening $130T MarketMathew Sigel
0 posts last weekVanEck: Bitcoin Could Hit $644K Matching Half Gold’s Value
Investment firm VanEck projects Bitcoin could reach $644,000 if it captures half of gold’s market capitalization, representing a 5.6x appreciation from current levels. The forecast comes as Bitcoin trades near record highs above $124,000, though analysts caution this ambitious target may require 5-10 years to materialize amid Bitcoin’s shift toward more stable growth patterns rather than exponential surges.
about VanEck: Bitcoin Could Hit $644K Matching Half Gold's ValueRipple CEO Advocates for Diverse Digital Asset Reserve Over Bitcoin Only Focus
Ripple CEO Brad Garlinghouse advocates for a diverse US digital asset reserve that includes multiple cryptocurrencies, opposing a Bitcoin-only approach. He emphasizes the importance of unity within the crypto industry to achieve common goals, countering criticism from Bitcoin supporters who accuse Ripple of undermining Bitcoin’s interests. Garlinghouse’s stance highlights the need for collaboration rather than competition in the evolving digital asset landscape.
about Ripple CEO Advocates for Diverse Digital Asset Reserve Over Bitcoin Only FocusScott Bessent to Divest Bitcoin ETF Amid Treasury Secretary Nomination
Scott Bessent, nominated by President-elect Donald Trump as the next Treasury Secretary, plans to sell his stake in BlackRock’s Bitcoin ETF (IBIT) valued between $250,001 and $500,000, as part of federal ethics guidelines requiring divestment within 90 days of Senate confirmation. While his Bitcoin investment has garnered support in the cryptocurrency community, there is uncertainty about whether he must divest this particular asset. Bessent’s confirmation hearing is set for January 16, 2025, and he is expected to advocate for a pro-cryptocurrency stance, contrasting with the current Treasury Secretary’s critical view of Bitcoin.
about Scott Bessent to Divest Bitcoin ETF Amid Treasury Secretary Nomination