Bitcoin, that fickle lover, is flirting with the abyss at $120,000, but the bears, those relentless wolves, have failed to drag the price below $115,000, leaving the bulls triumphant. đșđ„
On July 21st, no less, GameSquare unveiled its audacious expansion of the crypto treasury program to a staggering $250 million, complete with a rather cheeky $10 million earmarked for an utterly novel NFT yield strategy. This comes on the heels of a sumptuous $30 million purchase of Ether (ETH), bringing their grand total to over 10,000 tokens. Talk about a digital token party!
The grand launch of this âretro-futuristicâ sanctuary of cholesterol was marked by Muskâs trademark extravaganza. A clock struck 4:20 p.m.âa time no less than auspicious in the lexicon of popular cultureâwhile robots dutifully tended to the popcorn machines as if they were artisans of the highest order. Behold, even trays shaped like Cybertrucks graced the well-oiled machines of consumerism!
Folks are scared. Always are. Money’s funny that way. When things get shaky in one place, people start lookinâ for a place to hide their earnings. Bitcoin, theyâre callin’ it âDigital Gold.â Sounds fancy. Sounds like somethin’ a fella could hold onto when the banks are lookin’ a little too eager. Itâs gettin’ popular with folks who figure their money’s gonna get eaten up by inflation, or just plain disappear when a country decides to do a little financial rearrangin’.
Analyst extraordinaire LSplayQ has dropped the tea: Bitcoin is climbing like itâs trying to win a gold medal in the âPretend to Act Casual While Youâre Peakingâ Olympics. Trading now close to $118,000, itâs basically saying, âYou thought I was done? Honey, please!â This confidence is like your bestie showing up to brunch with the hottest outfitâbuying at ever-higher levels is the market’s way of shouting, âYes, I do love myself!â
According to ARK Investâs latest antics, theyâve poured their funds into BitMine Immersion Technologies (BMNR), a venture backed by Peter Thiel and helmed by Tom Lee, whoâs clearly the human equivalent of a âtrust fund baby with a PhD in optimism.â đ”ïžâïž
And, bless their hearts, only 11% think it might just scrape past the $130,000 mark. A meager 3% think itâs headed for the heavens at $140,000, while a crystal-clear 1% has their head lost in the clouds at the thought of $150,000. As of Tuesday morn, Bitcoin floated languidly around $118,327, tiptoeing below its all-time high of $123,000 achieved last week. It seems that Bitcoin is playing hard to get! đȘ
Keiser, known for his bombastic takes and early Bitcoin evangelism (think of him as the lovechild of a prophet and a game show host), dubbed this maneuver âThe Great Bifurcation.â đȘïž Because, of course, when youâre Trump, you donât just buy Bitcoinâyou create a whole new economic schism. Keiser implies that Trump is essentially filling his pockets before the U.S. reserve fund gets its hands on any BTC. Classic Trump, or just a man whoâs really good at Monopoly? You decide. đ©
Right now, XRPâs sitting comfortably above $3.60. That’s the highest it’s been since, like, early 2018. It seems like everybodyâs getting a little too excited, and I get itâsome institutional interest and regulatory clarity around Ripple Labs and XRP definitely help. But hey, no pressure!
Even the venerable Bitcoin, that stoic titan of the crypto realm, could not escape the capricious whims of the market. For the first time since early June, ETF outflows emergedâa betrayal so profound it might rival the backstabbing of a Tolstoyan aristocrat at a masquerade ball. đ
