POKKET: Crypto Market Update (June 10)
Bitcoin price is +13% to trade $37.4k while ETH is lagging behind +5% to $2600. Movers are MITH +38%, FIS +16%, DOCK +14%, INJ POND +12%, OST -21%, POLY -11%.
El Salvador’s Bitcoin bill passed yesterday, with supermajority votes. The country now embraces BTC as legal tender – starting with their Development Bank holding $150M worth in BTC, eventually moving towards holding it as reserve currency in the Central Bank while adding to this position. Yesterday 22k people listened in on Twitter Spaces as President Bukele explained his rationale for Bitcoin and was apparently getting calls from the US and IMF.
Meanwhile in the US, senator Elizabeth Warren trashes crypto during a hearing and a 7min misinformed dialogue about energy consumption; boomer memes ensued.
The CFTC commissioner declares DeFi derivatives may be illegal.
China’s Qinghai becomes the third province to ban Bitcoin mining.
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