The past week in the world of cryptocurrency was nothing short of eventful. From legislative moves aimed at curbing alleged corruption in cryptocurrency ventures to bold predictions about Bitcoin’s dominance, the week was filled with intriguing developments.
Here’s a quick recap of the top stories that made headlines.
Adam Schiff Takes Aim At Trump’s Crypto Ventures
In a bid to curb what he calls “corruption in plain sight,” Rep. Adam Schiff (D-Calif.) introduced legislation targeting cryptocurrency ventures by President Donald Trump and other senior administration officials. Schiff’s proposed COIN Act seeks to put an end to the alleged corruption in these ventures.
Read the full article here.
Tim Draper Foresees Bitcoin’s Dominance
Billionaire investor Tim Draper predicts that Bitcoin BTC/USD will completely dominate the dollar within the next five years. Draper, a long-time Bitcoin advocate, attributes this potential dominance to the unprecedented innovation on the Bitcoin network.
Read the full article here.
See Also: Bitcoin, Ethereum, XRP, Dogecoin Trade Flat On Friday But ‘One Major Leg Up Left,’ Says Trader
Cathie Wood’s Exciting Prediction for Bitcoin
Despite Bitcoin’s 400x rise, Cathie Wood, CEO of ARK Invest, believes that the “next exciting leg” of Bitcoin’s growth journey is just beginning. Wood’s comments came in response to billionaire hedge fund manager Philippe Laffont’s views on Bitcoin.
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Tom Lee’s Prediction for MicroStrategy
Tom Lee, head of research at Fundstrat Global Advisors, predicts that Strategy Inc. MSTR, formerly known as MicroStrategy, could deliver superior returns compared to Bitcoin itself as the cryptocurrency rallies.
Read the full article here.
Trump Family-Backed Crypto Venture’s New App
World Liberty Financial, a crypto venture backed by U.S. President Donald Trump, plans to launch a new app aimed at making it easier for lay investors to use cryptocurrencies. The Trump family, which holds a 75% claim on the venture’s net revenues, has faced criticism due to potential conflicts of interest.
Read the full article here.
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Photo courtesy: Shutterstock
This story was generated using Benzinga Neuro and edited by Ananya Gairola
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