Today, when cryptocurrency co-founder Michael Saylor made another purchase of Bitcoin, Dante Disparte of Circle said the Genius Act ensures that tech giants and banks cannot dominate the Stablecoin market without facing strict structural and regulatory barriers, and that the dominance of Bitcoin social media has soared, which could mark the top spot in the local area.
Michael Saylor Signals to Buy Bitcoins soon
Michael Saylor, co-founder of strategy Signs up for the upcoming purchase of Bitcoin Bitcoin is released on Sunday (BTC) Charts he usually releases before making a purchase the next day.
“Keep humble. Sit on the stack,” Saylor Write On X, when buying upcoming BTC to followers on social media.
According to the company’s Bitcoin investment, the company’s growth was about 66.5%, accounting for more than $28.5 billion in unrealized earnings. Saylortracker.
The strategy currently holds 601,550 BTC, worth over $71.4 billion, making it the world’s largest BTC fiscal company.
Genius Act hinders large-scale technology, bank-dominated stableman: Circle Exec
The Genius Act contains a little-known clause that prevents tech giants and Wall Street behemoths From leading the stable marketAccording to Dante Disparte, chief strategy officer of Circle.
“The Genius Act has something I want to call it—just for my own legacy, which is the terms of Libra,” Disparte told Unchaine Podcast on Saturday. Any fixed token of a non-bank that wants to mint the dollar must rotate “a independent entity that looks more like a circle, not like a bank”, with clear antitrust barriers and facing a veto-door committee.
Banks will not get a free pass either. A stable issuing lender must place it in a legal subsidiary and keep the coins on a “balance sheet without risk, no leverage, no loans,” Disparte notes.
The structure is even “more conservative” than JPMorgan and others have surfaced. He added: “This creates clear rules and I think the ultimate biggest winner is the consumer and market participants in the United States, frankly, the dollar itself.”
Bitcoin’s 43% social chat advantage suggests “key entry point”
Almost half of the encryption-related mentioned on social media this week According to the emotional platform’s shock, it surrounds Bitcoin with its focus, which could mark a local top and potential short-term pullback.
“With Bitcoin’s market value exceeding $123.1K for the first time in its 17-plus-17-plus history, it’s an equally historic peak of social advantage,” Santiment analyst Brian Quinlivan explain In Wednesday’s report.
“43.06% of all crypto discussions are about $BTC, just like the market value of coins peaked,” Quinlivan added. “The sudden spike shows many retail merchants fomo’ing,” challenging the views of several other industry players who believe retail investors have not yet entered the market.
On July 11, André Dragosch’s Bitwise chief said Bitcoin was at a new all-time high, but retail was “almost nowhere to be found”.
