Happy Thanksgiving! As Bitcoin BTC/USD inches close to $37,000, maintaining its position near 18-month highs, leaders in the cryptocurrency sector have a lot to be grateful for.
Despite a macro environment that hints at short-term volatility, Bitcoin’s detachment from global stocks — a -0.23 30-day correlation reported by Bloomberg — is at its most substantial since the pandemic’s outset.
Eli Taranto, Executive Director at EQI Bank, the world’s first licensed and regulated Bank for Crypto expressed appreciation for the surge in Bitcoin prices.
He told Benzinga, “I’m thankful for Bitcoin surging to $37,000. I’m also thankful to BlackRock for the obvious because whatever happens eventually it is a tectonic shift.”
Thankful For Ripple’s Victory
Echoing similar sentiments, Gracy Chen, Managing Director of Bitget, is particularly thankful for the progress toward a Bitcoin ETF: “For me, the push for a Bitcoin ETF has been one of this year’s greatest highlights. Spot Bitcoin ETFs can reduce investment costs, increase liquidity, improve price tracking, and meet stricter regulations, which will help us expand the acceptance of Bitcoin. I believe it’s not about if but when spot Bitcoin ETFs will be approved.”
For Chen, another piece of positive news is the U.S. federal judge’s decision that sales of Ripple’s XRP tokens through exchanges do not violate securities laws. “The SEC’s lawsuit against Ripple’s CEO has failed, which has led the market to believe that the regulatory environment is finally improving.”
Roger Buerli, CEO and Co-Founder of Brighty App noted major developments in 2023. “We’ve seen major developments, like the legal actions against Bittrex, dramatic changes at Binance, including the ouster of its CEO and a hefty $4 billion fine, and the whirlwind events at OpenAI, marked by Sam Altman’s brief departure and swift return.”
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The Doge Community: On the meme coin front, the crypto community showcased its unity as a variety of participants united to support the BronzeTheDoge project.
Tridog, from OwnTheDoge, said, “We are thankful to the Doge Community who came together and contributed funds to help erect a Bronze Doge Statue in Japan.” The #BronzeTheDoge initiative was led by Own The Doge, Dogecoin DOGE/USD foundation, Feisty Doge, Rainbow Wallet, and Doge Pound NFT.
“The fundraiser began on Nov. 2, 2022, Kabosu’s 17th ‘borkday’ and ended on Dogecoins birthday, December 6th. A total of $100k was raised in $DOGE $DOG and other ERC 20s. Then, we led the charge alongside Atsuko, Kabosu’s Mom, and got together with a Bronze Foundry in Japan to build the dream into a meme.”
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Image generated using AI via Midjourney
Image and article originally from www.benzinga.com. Read the original article here.