🇦🇷🇺🇾 Buenos Aires meetup sponsored by LocalMonero.co, organised by OrangeFren.com

¡Hola! 🇦🇷

Thanks to LocalMonero.co OrangeFren.com is organizing a meet-up in Buenos Aires 🇦🇷 on the 15th of March 2024 in Espacio Cultural Bitcoin

Where? Espacio Cultural Bitcoin, Marcelo Torcuato de Alvear 405, C1058 AAC, Buenos Aires

When? From 18:00 on Friday the 15th of March

Sign up on OrangeFren.com (no JS & Tor friendly)

Sign up on meetup.com

We welcome everyone, you don't need to like Bitcoin or Monero, you don't need to know anything about cryptocurrency, if you're interested in these topics and wanna hang out that's all you need 🧡

If you make it you will get free Monero stickers and a free stainless steel LocalMonero mnemonic wallet!

LocalMonero.co branded stainless steel mnemonic wallet

Today's Cryptocurrency Updates

Bitcoin's Surge Triggers Massive Short Squeeze
In a remarkable turn of events, Bitcoin's (BTC) recent surge from $61K to $68K has led to the liquidation of $120 million worth of Bitcoin shorts in just 24 hours. This significant market movement, signaling a bullish momentum, has the cryptocurrency community abuzz with the possibility of reaching a new all-time high.

SEC Delays BlackRock and Fidelity Ethereum ETF Proposals
The SEC has postponed its verdict on BlackRock's iShares Ethereum Trust and Fidelity's Ethereum Fund spot Ether ETF applications.

BRICS Nations to Develop Blockchain-Based Payment System
The BRICS consortium, encompassing Brazil, Russia, India, China, and South Africa, is set to pioneer a blockchain and digital technology-based payment system, according to TASS. Yury Ushakov, a Kremlin aide, emphasized the initiative's aim to create a system that is efficient, user-friendly, and politically neutral, catering to governments, the public, and businesses alike.

Do Kwon Wins Appeal Against US Extradition
Montenegro's Appellate Court has annulled the High Court of Podgorica's decision to extradite Terraform Labs co-founder Do Kwon to the U.S.

Taiwan Plans Tough New Regulations for Digital Assets
The Financial Supervisory Commission (FSC) plans to propose new digital asset regulations for Taiwan in September 2024, aiming to enhance market effectiveness and investor safety.

Would large repayments for hacks/scams make any significant difference now?

Pardon if this has been talked about a lot. I’ve been out of the loop for the last couple months.

Mt. Gox repayment appears to be happening October 2024(?).

Mt. Gox is expected to repay its creditors 142,000 Bitcoin and 143,000 in the forked cryptocurrency, Bitcoin Cash, in addition to 69 billion Japanese yen ($510 million) by October 2024. https://cointelegraph.com/news/mt-gox-confirm-bitcoin-addresses-repayment

This got me thinking - we (maybe just me?) were worried pre-BTC ETFs that a release of hundreds of thousands of BTC would crash the market due to mass selling at higher prices than what it was bought.

Now that a ton of liquidity has been put into the system as companies have offered BTC ETFs, would this really be a significant event?

Greyscale dumped 3443.1 BTC recently and that led to a 2.65% drop and that’s a far cry from 143,000 BTC. Mt. Gox is 41.5x larger.

While I doubt that everyone will sell from Mt. Gox, there may be a run on lambo purchases and luxury properties. However, with all the extra liquidity coming into the market - what are reasonable outcomes?

The scale of the whole thing is hard to grasp. 143,000 BTC at $60,000 USD is $8.58 billion. What is the macro picture like with this now?

Why should you be watching Bitcoin right now?

Bitcoin at the time of writing is at $62,479 up from $16,000 in December of 2022.

Why has Bitcoins price risen so dramatically in such a short amount of time? An event that typically happens every 4 years, for Bitcoin called a halving. The halving cuts the supply of bitcoin in half, effectively doubling the value per coin. The last halving was in 2020 and the next one will be this year. But, there’s something different about this halving.

This halving has the potential to be more dramatic than the first halving of Bitcoin. The most recent halving had increased nearly 8.5 times the value it was on the date of halving. That means getting the value of Bitcoin up pre-halving would be quite lucrative, you’d be looking at potentially obtaining 8.5x the halving price over time. So, let’s say Bitcoin reaches $95k by halving day, on halving day, those coins become worth $190k. But, this time around Bitcoin has had ETFs approved l, country adoption and institutional investor adoption; meaning the value per coin could easily reach in excess of $1million USD per coin by next year.

That means this is the last time, roughly that Bitcoin will soar to unbelievable heights.

Tesla, put 1.5 Billion of company money into Bitcoin, in preparation for the halving; which could turn into almost $30billion in under 24 months.

disclaimer: this is not investment advice