TheCoinfather on Nostr: #GetOnTheMission Bitcoin Veterans ...
#GetOnTheMission Bitcoin Veterans (npub1qkt…ms0r)
quoting note1j6p…8kmkBTC Daily Intelligence Bulletin (DIB)
Block: 822,394
DTG/ICOD: 0800EST 22DEC23
Prcedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: China tells Phillipines 'We will keep up pressure' / Angola adopts Crypto AML-type law / Argentina announces Bitcoin as legal for contracts
Market Data: Price: 1 BTC= $43,631, 21.14oz Gold
24hr Hi: $44,367 / Lo: $43,387
Vol: $23.8B (Down 20.8%)
Mkt Cap: $853.54B (Down .9%)
HashRate: 527 EH/s
Avg Fees: 59,513 sats/tx (down 50%)
Nodes: 16,609
---Reports---
-International Events-
1. China vows to keep up military pressure on the Philippines as territorial dispute grows tenser: China’s Foreign Minister Wang Yi told his Philippine counterpart, Enrique A. Manalo on Thursda, that CHina will maintain military pressure on the Philippines amid a dispute over sovereignty in the South China Sea that could involve U.S. forces defending their treaty partner.(Asahi Shimbun)
2. New war in the making as Yemeni Houthis attack ships in Red Sea: The United States and its allies are getting involved in an operation against the Houthis in Yemen, who responded to Israel's aggression against the Gaza Strip by attacking military and commercial ships in the Red Sea.(Pravda)
3. Angolan National Assembly Approves Crypto Law to Safeguard 'Monetary Sovereignty': The Angolan National Assembly recently unanimously approved a groundbreaking law that addresses cryptocurrency mining and virtual currency within the country. The legislation aims to safeguard the sovereignty of Angola’s monetary policy. Otoniel Dos Santos, the country’s Secretary of State for Finance and Treasury, emphasized that the passage of this law was also necessitated by crypto mining’s impact on the environment and the country’s energy security.
-US Events-
1. White House Says $14.1 Billion U.S. Steel Sale Deserves ‘Serious Scrutiny’ Under deal, Japan’s Nippon Steel would acquire one of America’s most storied industrial enterprises. Biden administration’s top economic adviser said Thursday the $14.1 billion deal to acquire U.S. Steel by Japan’s Nippon Steel deserved “serious scrutiny” regarding its potential impact on national security and supply chains.(WSJ)
-Regulatory and Legal-
1. Argentina's Minister of Foreign Affairs Affirms Bitcoin Acceptance for Contract Agreements: The announcement signifies a significant leap towards Bitcoin adoption within the South American nation.(BitcoinMagazine)
-Central Bank Digital Currencies (CBDC)-
1. Bank of China Completes First Precious Metal Digital Yuan Settlement: The Shanghai branch of the Bank of China announced that it has completed the first precious metal settlement using the digital yuan, the Chinese central bank digital currency (CBDC). The bank worked closely with the Shanghai Gold Exchange to transact the funds received overseas with the digital yuan. The transaction involved paying $14 million in exchange for undisclosed precious metals.(Bitcoincom)
-Institutional Concerns-
1. French Connection: Coinbase Clinches Crypto License In Latest Global Push: Coinbase recently made a calculated strategic step to expand into European markets by acquiring a virtual asset service provider (VASP) license from the Financial Markets Authority (AMF) of France.The acquisition of the VASP license from the French regulatory authority establishes Coinbase as an acknowledged and adherent participant in the French financial sector.(Bitcoinist)
2. BlackRock takes bold step in Bitcoin ETF race with new broker (CoinBase): Recent reports reveal that the company has introduced a novel element in its ETF structure by appointing a ‘Prime Execution Agent.’ This agent, a third-party broker, will be responsible for buying and selling Bitcoin on behalf of BlackRock’s fund.(Cryptopolitan)
-Economic Indicators-
1. The U.S. Bureau of Economic Analysis to announce the personal consumption expenditures (PCE) inflation data for November today. The annual PCE inflation is expected to further cool to 2.8% from 3 last month, with no rise in the monthly rate. Also, the Core PCE, the Fed’s preferred gauge to measure inflation, is expected to rise 0.2% month-on-month while the annual rate is predicted to decline to 3.3%, marking its lowest level since 2021.(WSJ)
2. The US 10-year Treasury yield continues to fall after dropping below 4% last week. It is now at 3.89%, slightly up as traders brace for inflation data(WSJ)
-Technological Updates-
NSTR*
-Security Incidents and Concerns-
NSTR*
-Bitcoin Community-
1. ‘If You Want to Understand Bitcoin's Value, Look at Politicians' Hate Toward It,' Says Sean Ono Lennon: Lennon, the acclaimed American-British musician and son of Beatles icon John Lennon, revisited the subject of bitcoin on social media platform X. He poignantly observed, “If you want to understand how valuable bitcoin truly is, look how much our politicians hate it.” Previously, Lennon has shared insights about the leading digital currency, highlighting that it offers him a sense of hope amidst an “ocean of destruction.”(Bitcoincom)
-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 74/100 (Up 4 pts)
Analyst Comments (AC): Althogh Angola's AML-type law does not directly affect US law, the trend is continuing for governments to pigeonhole Bitcoin into a money laundering narrative. We can expect this trend to continue while some countries will also adopt Bitcoin as a viable currency alternative like Argentina, setting up an interesting bifrication among countries concerning Bitcoin.
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Analyst: BV2A
END REPORT
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*NSTR-Nothing Significant To Report