21Mikes on Nostr: BTC Daily Intelligence Bulletin (DIB) Block: 832,407 DTG/ICOD: 0800EST 28Feb24 ...
BTC Daily Intelligence Bulletin (DIB)
Block: 832,407
DTG/ICOD: 0800EST 28Feb24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
__________________________
BLUF: China Continues Clampdown on Hong Kong / Fires in Texas / US Gov Shutdown Looms / IRS Ramping Up for Crypto / MSTR Continues Buying / Strike App Moves into Africa
Market Data: Price: 1 BTC= $59,397, 29.27 oz Gold, .14 Median US House
24hr Hi: $59,489 / Lo: $56,329
Vol: $48B (Down 9%)
Mkt Cap: $1.17T (Up 4%)
HashRate: 609 EH/s
Avg Fees: 16,211 sats/tx (Up 6%)
Nodes: 18,320
---Reports---
-International Events-
1. Macron raises prospect of sending Western troops to Ukraine: The French president hasn't ruled out the deployment of Western soldiers to Ukraine. His comments have sparked debate among allied Western countries, with Germany categorically rejecting the idea.
2. Hong Kong’s plan for a new national security law deepens fears over eroding civil liberties: Critics say the legislation will make Hong Kong’s legal system increasingly similar to that of mainland China, but the government argues it will affect only a “small minority” of disloyal residents.
-US Events-
1. Texas Panhandle Fires Burn Structures, Close Nuclear Facility: The largest fire is called the Smokehouse Creek Fire. It has burned nearly 400 square miles, according to the Texas A&M Forest Service, since being reported late Monday afternoon in Hutchinson County, about 35 miles northeast of Amarillo. The cause of the fire is unknown. (WeatherChannel)
2. A partial government shutdown is days away. There’s no agreement on federal funding yet: Schumer said it’s likely Congress will need to approve another continuing resolution, or CR, to avoid a partial government shutdown. Stopgap spending bills continue the prior fiscal year’s funding levels and policy until Congress reaches agreement on full-year spending bills. (CONewsline)
-Regulatory and Legal-
1. IRS Brings Crypto Veterans Aboard to Guide Tax Regulations: IRS hires former Binance.US and TaxBit executives to enhance crypto compliance and enforcement efforts. (BeInCrypto)
-Institutional Concerns-
1. MicroStrategy Bought $1.55 Billion in $BTC Over Past Ten Days: The company’s latest filing with the U.S. SEC revealed the purchase of nearly 3,000 Bitcoins for approximately $155.4 million between February 15 and 25. This move propelled MicroStrategy’s total Bitcoin holdings to an impressive 193,000, which it acquired for an average of $31,544 each – around $6.09 billion in total.
-Central Bank Digital Currencies (CBDC)-
1. Federal Reserve explores the impact of CBDC on dollar dominance: A recent paper by the Fed concludes that a CBDC would have no material impact on dollar dominance but adds a critical caveat “in the absence of large geopolitical changes separate from CBDC issuance.” The potential benefits of introducing a CBDC can be achieved by other payment system improvements that are already in progress. (LedgerInsights)
-Economic Indicators-
1. US Mortgage Applications Fall to 3-Month Low: Mortgage applications in the US sank by 5.6% on the week ending February 23rd, extending the year-high 10.6% plunge in the previous period to the lowest since November 2023. Mortagage rates remained above 7%. (TradingEconomics)
-Technological Updates-'
NSTR
-Security Incidents and Concerns-
1. Matthew Perry’s X Account Hacked by Crypto Scammers: The X account of the late American actor had allegedly been hacked. The targeted website, however, was just a donation page designed to scam his memorial fund. (CryptoTimes)
2. Man Who Laundered Billions in Bitcoins Says Bitcoin Fog Was a Help: Ilya Lichtenstein, one of the crypto industry's most high-stakes criminals, is now helping federal prosecutors in their case against Bitcoin Fog, one of the mixing services he said he'd used to conceal assets. Lichtenstein is known for the multi-billion Bitfinex hack of bitcoins worth $3.6 billion when he pleaded guilty to money laundering last year. (TradingView)
-Bitcoin Community-
1, Argentina Leads Crypto Adoption in Latam: Argentina is leading the adoption of cryptocurrency in Latin America. According to a report by Lemon, a leading exchange in the country, four of every ten cryptocurrency apps in Latam are being used by Argentines, with over 70% of the deposits processed by the exchange corresponding to USDT, Tether’s dollar-pegged stablecoin. (Bitcoincom)
2. Bitcoin Miner Riot Acquires 31,500 'Next Generation' M60S Mining Machines Worth $97.4 Million: Bitcoin miner Riot Platforms Inc. said it expects to take delivery as well as deploy 31,500 Whatsminer M60S miners worth $97.4 million by the end of July 2024. The addition of the new bitcoin mining machines is projected to increase the “self-mining” hashrate capacity of Riot’s Rockdale Facility to 15.1 EH/s. (Bitcoincom)
3. Strike CEO Jack Mallers Announces Expansion of Services into Africa: Strike Africa will now be available in Gabon, Ivory Coast, Malawi, Nigeria, South Africa, Uganda, and Zambia, with plans for further expansion in the future. With this expansion, Strike aims to address the unique financial challenges faced by many African countries, including high inflation rates, devaluing currencies, and expensive remittance services. (BitcoinMagazine)
-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 82/100 (Up 3 pts)
Analyst Comments (AC): As BTC approaches a new all-time high, not all attention will be positive. One headline today championed "Missed Out On Recent Market Pumps? Here Are 4 Coins Primed To Pump Next", which plays on the FOMO inherent in investor psychology to separate people from the fruits of thier labor. The IRS also is seeking to get it's "fair share" by hiring former crypto execs to ensure enforcement actions. Vigilance and work are required to maintain one's store of value and protect against those seeking to take by force or guile. Plan and protect accordingly.
Follow us on NOSTR: Bitcoin Veterans (npub1qkt…ms0r)
____________________
Analyst: BV2A
END REPORT
NNNN
*NSTR-Nothing Significant To Report
Block: 832,407
DTG/ICOD: 0800EST 28Feb24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
__________________________
BLUF: China Continues Clampdown on Hong Kong / Fires in Texas / US Gov Shutdown Looms / IRS Ramping Up for Crypto / MSTR Continues Buying / Strike App Moves into Africa
Market Data: Price: 1 BTC= $59,397, 29.27 oz Gold, .14 Median US House
24hr Hi: $59,489 / Lo: $56,329
Vol: $48B (Down 9%)
Mkt Cap: $1.17T (Up 4%)
HashRate: 609 EH/s
Avg Fees: 16,211 sats/tx (Up 6%)
Nodes: 18,320
---Reports---
-International Events-
1. Macron raises prospect of sending Western troops to Ukraine: The French president hasn't ruled out the deployment of Western soldiers to Ukraine. His comments have sparked debate among allied Western countries, with Germany categorically rejecting the idea.
2. Hong Kong’s plan for a new national security law deepens fears over eroding civil liberties: Critics say the legislation will make Hong Kong’s legal system increasingly similar to that of mainland China, but the government argues it will affect only a “small minority” of disloyal residents.
-US Events-
1. Texas Panhandle Fires Burn Structures, Close Nuclear Facility: The largest fire is called the Smokehouse Creek Fire. It has burned nearly 400 square miles, according to the Texas A&M Forest Service, since being reported late Monday afternoon in Hutchinson County, about 35 miles northeast of Amarillo. The cause of the fire is unknown. (WeatherChannel)
2. A partial government shutdown is days away. There’s no agreement on federal funding yet: Schumer said it’s likely Congress will need to approve another continuing resolution, or CR, to avoid a partial government shutdown. Stopgap spending bills continue the prior fiscal year’s funding levels and policy until Congress reaches agreement on full-year spending bills. (CONewsline)
-Regulatory and Legal-
1. IRS Brings Crypto Veterans Aboard to Guide Tax Regulations: IRS hires former Binance.US and TaxBit executives to enhance crypto compliance and enforcement efforts. (BeInCrypto)
-Institutional Concerns-
1. MicroStrategy Bought $1.55 Billion in $BTC Over Past Ten Days: The company’s latest filing with the U.S. SEC revealed the purchase of nearly 3,000 Bitcoins for approximately $155.4 million between February 15 and 25. This move propelled MicroStrategy’s total Bitcoin holdings to an impressive 193,000, which it acquired for an average of $31,544 each – around $6.09 billion in total.
-Central Bank Digital Currencies (CBDC)-
1. Federal Reserve explores the impact of CBDC on dollar dominance: A recent paper by the Fed concludes that a CBDC would have no material impact on dollar dominance but adds a critical caveat “in the absence of large geopolitical changes separate from CBDC issuance.” The potential benefits of introducing a CBDC can be achieved by other payment system improvements that are already in progress. (LedgerInsights)
-Economic Indicators-
1. US Mortgage Applications Fall to 3-Month Low: Mortgage applications in the US sank by 5.6% on the week ending February 23rd, extending the year-high 10.6% plunge in the previous period to the lowest since November 2023. Mortagage rates remained above 7%. (TradingEconomics)
-Technological Updates-'
NSTR
-Security Incidents and Concerns-
1. Matthew Perry’s X Account Hacked by Crypto Scammers: The X account of the late American actor had allegedly been hacked. The targeted website, however, was just a donation page designed to scam his memorial fund. (CryptoTimes)
2. Man Who Laundered Billions in Bitcoins Says Bitcoin Fog Was a Help: Ilya Lichtenstein, one of the crypto industry's most high-stakes criminals, is now helping federal prosecutors in their case against Bitcoin Fog, one of the mixing services he said he'd used to conceal assets. Lichtenstein is known for the multi-billion Bitfinex hack of bitcoins worth $3.6 billion when he pleaded guilty to money laundering last year. (TradingView)
-Bitcoin Community-
1, Argentina Leads Crypto Adoption in Latam: Argentina is leading the adoption of cryptocurrency in Latin America. According to a report by Lemon, a leading exchange in the country, four of every ten cryptocurrency apps in Latam are being used by Argentines, with over 70% of the deposits processed by the exchange corresponding to USDT, Tether’s dollar-pegged stablecoin. (Bitcoincom)
2. Bitcoin Miner Riot Acquires 31,500 'Next Generation' M60S Mining Machines Worth $97.4 Million: Bitcoin miner Riot Platforms Inc. said it expects to take delivery as well as deploy 31,500 Whatsminer M60S miners worth $97.4 million by the end of July 2024. The addition of the new bitcoin mining machines is projected to increase the “self-mining” hashrate capacity of Riot’s Rockdale Facility to 15.1 EH/s. (Bitcoincom)
3. Strike CEO Jack Mallers Announces Expansion of Services into Africa: Strike Africa will now be available in Gabon, Ivory Coast, Malawi, Nigeria, South Africa, Uganda, and Zambia, with plans for further expansion in the future. With this expansion, Strike aims to address the unique financial challenges faced by many African countries, including high inflation rates, devaluing currencies, and expensive remittance services. (BitcoinMagazine)
-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 82/100 (Up 3 pts)
Analyst Comments (AC): As BTC approaches a new all-time high, not all attention will be positive. One headline today championed "Missed Out On Recent Market Pumps? Here Are 4 Coins Primed To Pump Next", which plays on the FOMO inherent in investor psychology to separate people from the fruits of thier labor. The IRS also is seeking to get it's "fair share" by hiring former crypto execs to ensure enforcement actions. Vigilance and work are required to maintain one's store of value and protect against those seeking to take by force or guile. Plan and protect accordingly.
Follow us on NOSTR: Bitcoin Veterans (npub1qkt…ms0r)
____________________
Analyst: BV2A
END REPORT
NNNN
*NSTR-Nothing Significant To Report