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JUST IN: 🇺🇸 $1.1 trillion Standard Chartered expects more sovereign wealth funds to start buying #Bitcoin

Standard Chartered sees more sovereign wealth funds buying bitcoin

Strategy flags profitability risk amid bitcoin volatility, may be exposed to greater tax liabilities than anticipated

🇮🇳 “It’s logical for companies in INDIA to adopt the #Bitcoin Standard,” says Michael Saylor.

The recent debacle of Libra, a coin that was endorsed by Javier Milei as a token that would serve to fund local entrepreneurs, might have a positive outcome even when it is currently threatening its administration. The downfall of this initiative might straighten the president’s opinion on the dilemma between bitcoin, which is currently even being considered as a reserve asset at an international level, and other cryptocurrencies like meme coins. Milei’s experience will, in no doubt, sway his administration to assume the stance of countries like El Salvador, which while have developed general crypto regulation but hold bitcoin in the highest regard. Before the incident, Milei had been open to all forms of cryptocurrency, also including bitcoin. This has not been the first rodeo of Milei in the crypto industry, and certainly not its first failure. In 2022, Milei publicly endorsed two cryptocurrency companies which ended as a disappointment for its investors. The first one was Vulcanox, an NFT gaming project. “The Vulcano Game NFT gaming project is very interesting. A sustainable economic diagram over time unlike the vast majority,” he posted on social media. This project ended up with his token going to zero amidst fraud allegations from its holders weeks before this endorsement. Coinx was the second project supported publicly by Milei, offering an 8% monthly yield to investors putting over $1,000 in the company. “They are revolutionizing the way of investing to help Argentines escape inflation. You can now simulate your investment in pesos, dollars, or cryptocurrencies and make a profit,” Milei stated. Coinx’s offices were raided by the Federal Police a year later due to its alleged involvement in fraud activities, leaving thousands affected. The third time was not the charm, and I believe Milei is bound to internalize that not all proposals in the crypto world are beneficial, assuming that there was no involvement on his part in these schemes. Read more: The Libra Incident: Examining Argentine President Javier Milei’s Confusing Token Endorsement and Its Destructive Aftermath 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。