Today’s Nuggets
Bitcoin has Entered the Euphoria Zone
My Stance on Ethereum Layer 2 Flaws
BTC Long-Term Holders Move to the ETFs
Bitcoin Miner Revenue Hits All-Time High
Record Number of Americans Taking Hardship Withdrawals
Ethereum's Dencun Upgrade and Its Implications
The Shift of BTC Long-Term Holders to ETFs
Solana's Rising Dominance
Digital Asset Investment Records
Market Trends and Government Policies Impact
This week's unlocks from some of the usual names: Aptos, Cyber, Flow, Arbitrum, Ape, and Cardano. The new one on the list is Algo. For those who read this newsletter, I know you would not be in those names anyway.
In 2024, President Biden proposed a 30% tax on the electricity used by crypto miners as part of his budget plan. This tax is aimed at reducing the environmental impact of mining cryptocurrencies, such as Bitcoin.
The proposal suggests that the tax would be phased in over three years, starting at 10% in the first year and increasing to 30% in the third year. This will force the miners offshore just like China did.
Let's let the free markets work. Miners use stranded energy that would otherwise go to waste. Miners help to stabilize the grid in places like Texas, where it's very much required. Can somebody whisper in these politicians' ears exactly how good mining is for the grid?
All of the public miners got clobbered due to the
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