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blockonomi.com U.S. Bitcoin Act Could Unlock $1.5 Trillion From Gold Conversion

TLDR: The Lummis Bitcoin Act could convert gold certificates into Bitcoin, injecting up to $1.5 trillion into U.S. reserves. The Treasury may reprice gold from $42.22 to $4200 per ounce to fund Bitcoin purchases worth $90–200 billion yearly. The Federal Reserve’s gold revaluation would create an internal cash credit for Bitcoin acquisitions without selling gold. [...] The post U.S. Bitcoin Act Could Unlock $1.5 Trillion From Gold Conversion appeared first on Blockonomi.

blockonomi.com BlackRock Dumps Bitcoin for Ethereum Amid Crypto Market Turmoil

TLDR BlackRock sold over $28 million worth of Bitcoin during a sharp decline in the crypto market. The firm bought more than $45 million in Ethereum shortly after selling its Bitcoin holdings. BlackRock’s iShares Bitcoin Trust recorded a $29.46 million outflow in a single day. The iShares Ethereum Trust saw a $46.9 million inflow which [...] The post BlackRock Dumps Bitcoin for Ethereum Amid Crypto Market Turmoil appeared first on Blockonomi.