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Cryptocurrency is gaining traction as a practical payment method for everyday bills, mirroring the functionality of traditional currencies like the U.S. dollar. From credit card payments to utility bills, the scope of what can be paid with cryptocurrency is expanding. To utilize this payment method, one must first set up a crypto wallet, which acts as a digital bank account for cryptocurrencies. This wallet can be either hardware or software-based, and securing it with a seed phrase is crucial. If you're new to cryptocurrency, you'll need to buy some from a reputable exchange. Platforms like BitPay facilitate these transactions, allowing users to pay various bills directly from their crypto wallets. This process not only simplifies bill payments but also introduces users to the benefits of cryptocurrency, such as speed and security in transactions. However, users must be aware of the volatility and potential transaction fees associated with cryptocurrency.
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Nvidia's stock soared to a record high on Monday, fueled by excitement over CEO Jensen Huang's keynote at CES where he outlined a future dominated by AI in physical systems like robotics and autonomous vehicles. Huang highlighted Nvidia's partnerships with major automakers and emphasized the company's role in powering the necessary computing infrastructure for these technologies. However, the stock's euphoria was short-lived as it plummeted by 6.22% on Tuesday, marking a $220 billion drop in market capitalization. This drastic fall reflects a recurring pattern for Nvidia, where significant announcements lead to initial spikes followed by investor sell-offs. Despite these fluctuations, Nvidia remains a key player in the tech sector, with analysts like Paul Meeks from Harvest Portfolio Management suggesting that while a slowdown in growth might eventually turn him into a seller, Nvidia's long-term potential remains strong.
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Shares of quantum computing companies, including IonQ Inc., Quantum Computing Inc., D-Wave Quantum Inc., and Rigetti Computing Inc., experienced significant declines in premarket trading following comments by Nvidia CEO Jensen Huang. Huang suggested that the development of "very useful" quantum computers could still be 15 to 30 years away, with a likely consensus around 20 years. This statement led to a more than 14% drop in the stocks of several quantum computing firms, which had previously seen dramatic increases in value due to excitement over the technology's potential. The sector's stocks had risen dramatically over the past year, with some like Quantum Computing Inc. gaining over 1,800%. Huang's remarks also affected Chinese quantum computing companies, causing their shares to fall sharply. Meanwhile, Alphabet Inc., which had a breakthrough in quantum computing last month, saw a slight dip in its stock price.
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Bitcoin experienced a significant price drop, falling below $96,000 on January 8, following a $5,000 decline in a single day. This downturn was attributed to a spot sell-off and was exacerbated by unfavorable US macroeconomic data releases, which increased selling pressure on exchanges like Binance. The hourly net taker volume on Binance hit a peak of -$325 million, signaling strong sell-off activity. Analysts and traders are divided on the immediate future of Bitcoin's price, with some like trader Johnny predicting a further dip to around $88,000 in the coming weeks, while others like Josh Rager anticipate a potential rebound by the weekend. Despite the volatility, there are signs of solid demand for Bitcoin, as noted by CryptoQuant CEO Ki Young Ju, who highlighted the Apparent Demand indicator showing sustained interest in holding Bitcoin for the long term. This mixed sentiment reflects the complex dynamics at play in the cryptocurrency market, influenced by both macroeconomic factors and trader psychology.
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Exxon Mobil has forecasted a significant reduction in its fourth-quarter earnings, projecting a decrease of about $1.75 billion from the previous quarter due to lower oil refining profits and overall business weakness. Despite some positive contributions from upstream asset sales amounting to $400 million, the company faces a setback with impairments costing around $600 million. The oil refining sector, in particular, is expected to see earnings drop by $800 million to $1.6 billion due to lower margins and timing effects. This downturn is attributed to global demand for gasoline and diesel not meeting expectations, alongside an increase in supply from new refineries in Asia and Africa. Additionally, Exxon anticipates a reduction in earnings from its chemicals business by about $400 million. The company's performance is closely watched as an indicator for other oil majors, with Exxon set to release its final results on January 31.
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Fidelity Digital Assets has forecasted a significant shift in the acceptance and adoption of bitcoin in 2025, driven by various global economic pressures. The research report highlights that with rising inflation, currency debasement, and increasing fiscal deficits, not allocating funds to bitcoin might pose a greater risk than investing in it. Analyst Matt Hogan from Fidelity suggests that more countries, including their central banks and sovereign wealth funds, are likely to consider strategic investments in bitcoin. The report also mentions political interest in the U.S., with President-elect Donald Trump and Senator Cynthia Lummis advocating for a strategic bitcoin reserve, although the implementation remains uncertain. Lummis introduced the "Bitcoin Act of 2024" to the Senate, which, if passed, could set a precedent for other nations to follow. Fidelity notes that countries might start accumulating bitcoin covertly to avoid influencing market prices. Currently, the U.S., China, U.K., Ukraine, Bhutan, and El Salvador are among the largest government holders of bitcoin, primarily through seizures related to criminal activities.
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Today's crypto market took an unexpected turn with Bitcoin experiencing a 5% drop, influenced by strong economic data that contradicted expectations of Federal rate cuts. Arthur Hayes, a notable figure in the crypto community, has shifted his stance, now predicting a market peak in mid-March before a significant correction, influenced by anticipated dollar liquidity increases in 2025. Ripple and Chainlink's collaboration to launch RLUSD, a stablecoin, across Ethereum and XRP Ledger has caught the attention of Crypto Twitter, potentially reshaping DeFi. Meanwhile, CFTC Chair Rostin Behnam's departure highlighted the regulatory challenges in the crypto space, noting a large portion remains unregulated. Meme coins like Dogecoin and others saw double-digit drops, far exceeding Bitcoin's decline, indicating heightened volatility in this sector. Despite Bitcoin's price drop, Bitcoin ETFs attracted a staggering $1.1 billion in a single day, with Fidelity's fund outperforming BlackRock's, raising questions about the relationship between ETF inflows and Bitcoin's market price.
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The Crypto Accounting Academy, a course by The Accountant Quits, has been officially recognized as a Continuing Professional Education (CPE) Sponsor by the National Association of State Boards of Accountancy (NASBA). This acknowledgment places the course on the NASBA CPE Registry, highlighting its commitment to delivering high-quality education in the web3 accounting sector. The course offers students the chance to earn up to 20.4 CPE credits, which are crucial for maintaining CPA licensure and other professional certifications. The accreditation reflects the course's adherence to the Statement of Standards for Continuing Professional Education Programs (2024) and aims to educate accountants on blockchain's impact on accounting practices. This recognition comes at a time when the American Institute of Certified Public Accountants and NASBA are proposing changes to the Uniform Accountancy Act, introducing new pathways for CPA licensure.
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The cryptocurrency market, particularly Bitcoin, experienced a remarkable year in 2024, with Bitcoin reaching six figures and doubling in value for the second consecutive year. This surge was fueled by several key events including the introduction of spot Bitcoin ETFs and the halving event, which reduced the supply growth of new Bitcoins. Despite these gains, the potential for further growth remains strong, driven by President-elect Donald Trump's positive stance on cryptocurrency. Trump's vision of the U.S. becoming the "crypto capital of the planet" and his proposal for a government Bitcoin reserve could significantly boost demand. Analysts are optimistic, with projections suggesting Bitcoin could hit $150,000 to $200,000 in 2025, and some like Cathie Wood predicting even higher values by 2030. However, the volatile nature of Bitcoin means that while the potential for high returns exists, so does the risk of significant fluctuations, making it a speculative investment not suitable for all investors.
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Ripple President Monica Long expressed optimism about the potential approval of an XRP exchange-traded fund (ETF) in the U.S., citing favorable crypto regulations. She anticipates that more crypto spot ETFs will emerge this year, with XRP likely following Bitcoin and Ether. Ripple's new RLUSD stablecoin, launched on Ethereum and XRP Ledger, is set to expand its reach on more exchanges soon, enhancing its role in Ripple's payment and money businesses. Several asset managers, including Bitwise, Canary Capital, WisdomTree, and 21Shares, have filed for XRP ETFs, although no decisions have been made yet. The crypto community speculates that a Trump administration could favor U.S.-based crypto firms like Ripple, which has already seen a surge in local business deals post-election. XRP's price has significantly outperformed other major cryptocurrencies, rising over 300% since Trump's win, fueled by expectations of a positive shift in U.S. crypto policy.
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Fidelity Digital Assets has forecasted a significant shift in the crypto market by 2025, with nation-states and financial institutions increasingly adopting Bitcoin into their strategic reserves. Analyst Matt Hogan from Fidelity suggests that not investing in Bitcoin could become riskier for countries facing economic challenges like inflation and fiscal deficits. The report highlights the potential for countries to follow the example set by Bhutan and El Salvador, which have already seen substantial returns from their Bitcoin investments. Hogan also anticipates that if the U.S. moves forward with its Bitcoin reserve plans, other nations might secretly accumulate Bitcoin to avoid driving up prices. Additionally, the success of Bitcoin and Ether ETFs is expected to pave the way for more structured digital asset products in traditional finance. Tokenization is highlighted as a major trend, with its onchain value projected to double by the end of 2025, indicating a broader acceptance and integration of blockchain technology in financial services.
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The article discusses the potential impact of the incoming Trump administration's crypto regulations and the US Federal Reserve's monetary policy on Bitcoin's price trajectory. Arthur Hayes, co-founder of BitMEX, suggests that despite potential regulatory delays, Bitcoin could benefit from an influx of over $612 billion in new liquidity in the first quarter of 2025. This liquidity could mitigate investor concerns over delayed crypto regulations. However, Hayes also warns of a possible correction in Bitcoin's price due to disappointment over the slow implementation of pro-crypto policies by the Trump administration. Despite these concerns, some analysts remain optimistic, predicting Bitcoin could reach above $150,000 by late 2025, driven by a significant increase in global money supply. The article also notes that institutional investors might help Bitcoin surpass the $100,000 mark before Trump's inauguration, although sustaining such levels would depend on various factors including actual regulatory implementation and Federal Reserve policies.
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The cryptocurrency market experienced significant losses, with Dogecoin (DOGE) leading the decline by dropping 10% as Bitcoin (BTC) fell to nearly $96,000. This downturn was triggered by fresh U.S. economic data that caused treasury yields to soar, impacting not just crypto but also U.S. stocks. The Institute for Supply Management (ISM) reported stronger-than-expected service sector performance, and U.S. job openings exceeded forecasts, leading to a sell-off in Treasury securities and a rise in the 10-year Treasury yield to its highest since May. This economic backdrop resulted in a $560 million liquidation in crypto-tracked futures, highlighting the market's volatility. Despite the immediate negative sentiment, market observers like Vince Yang from zkLink remain optimistic, citing historical trends and a potentially more favorable U.S. administration. However, Singapore-based QCP Capital anticipates a turbulent January due to the U.S. Treasury debt ceiling reinstatement, which could further stir market volatility.
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Shares of Tencent Holdings and CATL, a major battery supplier for companies like Ford and Tesla, experienced significant declines after being added to the U.S. Department of Defense's list of "Chinese military companies." This listing, which also affected Tencent's U.S. depository receipts, led to an immediate drop in stock prices, with Tencent shares falling nearly 8% in Hong Kong and CATL shares dropping by up to 5.6% in Shenzhen. The National Defence Authorization Act of 2024 stipulates that the DoD will be barred from procuring goods or services from these companies starting in June 2026, with indirect procurement restrictions following in June 2027. Both companies have contested their inclusion, asserting that they are not involved in military activities. Analysts from Morningstar believe Tencent has a strong case for exclusion due to its focus on social networking and gaming, while CATL's listing might deter U.S. customers from future purchases of its energy storage system batteries. This move by the U.S. reflects ongoing efforts to restrict technology transfers to China, highlighted by previous actions against Huawei and new export controls on critical technologies.
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DLocal, a prominent player in Latin America's payment sector, has recently secured a U.K. payment institution license from the Financial Conduct Authority, enhancing its ability to expand globally. This license enables DLocal to onboard new U.K. merchants, overcoming previous restrictions due to Brexit. The company, which focuses on cross-border payments in emerging markets like Brazil, Mexico, and Colombia, sees the U.K. as a strategic hub for global companies looking to expand into Africa and Latin America. CEO Pedro Arnt emphasized DLocal's unique position in serving these markets, distinguishing it from local competitors like Worldpay and Checkout.com. With this new license, DLocal aims to increase its U.K. presence, with plans to grow its team and business operations. Despite market fluctuations and speculation about potential sales, Arnt confirmed that DLocal is not currently for sale, focusing instead on leveraging its public status for commercial benefits.
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Nvidia's stock saw a 2.5% increase following CEO Jensen Huang's keynote at CES, where he unveiled several new technologies. The highlight was the introduction of the GB10 AI superchip and a compact client supercomputer under Project DIGITS, aimed at developers, researchers, and students, set to be available in May for $3,000. Additionally, Nvidia showcased its Cosmos platform, designed for AI models in robotics and autonomous vehicles, with analysts predicting a significant market expansion in these areas. Huang suggested that autonomous driving technologies could become a multi-trillion-dollar industry. Nvidia also teased new Blackwell-generation gaming GPUs and potential AI chip successors. Despite a slight dip in stock price on the day of the report, analysts remain bullish, with reiterated Buy ratings and a projected price target of $172.80 over the next 12 months, reflecting confidence in Nvidia's strategic positioning in AI, robotics, and edge computing.
