There are billionaires, tech wizards and then there's Satoshi Nakamoto- the most mysterious rich person in history. The creator of Bitcoin isn’t just popular for building the world’s most rebellious currency, he or she or they is also sitting on one of the largest fortunes in the world.<h2>But who is Satoshi Nakamoto?</h2>As per reports he is:&nbsp;- Elusive creator of Bitcoin&nbsp;- Is sitting on one of the biggest fortunes in history&nbsp;- Owns over 1.1 million Bitcoin&nbsp;- Valued at over $120 billion&nbsp;- Hasn't made a move in over 15 years&nbsp;- Many assume that he is dead&nbsp;- Remains iconic due to his dormant account&nbsp;- Ranks in the top 10 richest billionaires list&nbsp;- But value may not be his biggest goal!&nbsp;How big? Over one million Bitcoins. In today’s value ($116,788) that's over $120 billion. But what’s so surprising? The wallet holding those bitcoins hasn’t moved in 15 years. Not once!&nbsp;Speculations on Reddit suggest that Satoshi may be a lone cryptographer, or an underground collective or someone far more powerful. Some others believe he may be dead. While some believe he’s a silent watcher waiting to make the next big move.&nbsp;&nbsp;If that wallet were to make a move, it has the potential to cause panic, or even a digital apocalypse.&nbsp;&nbsp;Unlike modern billionaires who own sports teams, buy rockets or buy social media platforms, Satoshi has chosen to stay silent and totally invisible, adding more mystery to the myth and the legend.&nbsp;&nbsp;No yachts, no keynote speeches, just an untouched stash of value that's more than the wealth of most nations. This untouched stash is no longer an asset- It's a statement. It's a reminder that Bitcoin is anti-establishment.&nbsp;&nbsp;While crypto markets rise and fall, and makes millionaires overnight, its richest stakeholder continues to remain frozen in time.&nbsp;&nbsp;One of the richest billionaires of our time is truly iconic—but will we ever get to know who he is or will he remain a ghost forever?&nbsp;

Speculations on Reddit suggest that Satoshi may be a lone cryptographer, or an underground collective or someone far more powerful. Some others believe he may be dead.

There are billionaires, tech wizards and then there's Satoshi Nakamoto- the most mysterious rich person in history. The creator of Bitcoin isn’t just popular for building the world’s most rebellious currency, he or she or they is also sitting on one of the largest fortunes in the world. But who is Satoshi Nakamoto? As per reports he is: - Elusive creator of Bitcoin - Is sitting on one of the biggest fortunes in history - Owns over 1.1 million Bitcoin - Valued at over $120 billion - Hasn't made a move in over 15 years - Many assume that he is dead - Remains iconic due to his dormant account - Ranks in the top 10 richest billionaires list - But value may not be his biggest goal! How big? Over one million Bitcoins. In today’s value ($116,788) that's over $120 billion. But what’s so surprising? The wallet holding those bitcoins hasn’t moved in 15 years. Not once! Speculations on Reddit suggest that Satoshi may be a lone cryptographer, or an underground collective or someone far more powerful. Some others believe he may be dead. While some believe he’s a silent watcher waiting to make the next big move. If that wallet were to make a move, it has the potential to cause panic, or even a digital apocalypse. Unlike modern billionaires who own sports teams, buy rockets or buy social media platforms, Satoshi has chosen to stay silent and totally invisible, adding more mystery to the myth and the legend. No yachts, no keynote speeches, just an untouched stash of value that's more than the wealth of most nations. This untouched stash is no longer an asset- It's a statement. It's a reminder that Bitcoin is anti-establishment. While crypto markets rise and fall, and makes millionaires overnight, its richest stakeholder continues to remain frozen in time. One of the richest billionaires of our time is truly iconic—but will we ever get to know who he is or will he remain a ghost forever?

Speculations on Reddit suggest that Satoshi may be a lone cryptographer, or an underground collective or someone far more powerful. Some others believe he may be dead.

The richest mystery in history: Satoshi Nakamoto. What is his net worth today?

A person who once bought 10,000 Bitcoins left it in his wallet for 14 years. At that time, the investment was worth around $7,800. Today, it is worth $1.1 billion. Who this lucky person is is not known, and there is no way to learn about their identity. But the news has shocked everyone in the crypto world. The Bitcoin whale is believed to have been close to Bitcoin creator Satoshi Nakamoto. If not him, then with people who were close to Nakamoto. Bitcoin whale is a term used for people who own more than 10,000 BTC. In this case, the person bought exactly 10,000 BTC 14 years ago, and this has triggered a strange theory.&nbsp;<h2>Bitcoin price soaring, at a record-high</h2>Bitcoin has been rising in the charts over the past few months. It soared in 2024 and touched an all-time high of $116,046.44 on 10 July. BTC was worth $62,000 in July 2024. Its value continues to skyrocket, and is way, way higher than what it was at the time of launch. Most people who bought Bitcoin at the time paid meagre amounts for it. Those who retained them are millionaires and billionaires today. However, the unlucky ones who did not hold on to them have lost big. But not this Bitcoin shark who is now a billionaire after spending only thousands of dollars. Also Read: <a href="https://www.wionews.com/business-economy/bitcoin-hits-fresh-all-time-high-surges-above-116-000-mark-1752203124667">Bitcoin hits fresh all-time high, surges above 116,000 mark</a>&nbsp;<h2>Theory for why BTC was sold after 14 years</h2>Reports suggest that this person was likely involved in the earliest operations of Bitcoin. This is because the transaction was sent to a ‘legacy’ Bitcoin address, or one of the very first ones made. Most of the long-term crypto holders have never sold their BTC, which looks like a well-thought-out plan that all of them follow. This is supported by the fact that over 70 per cent of these wallets have been dormant for a decade or more. So if none of them want to sell their BTC and are planning on keeping them forever, why did this particular person move it all of a sudden? Some people have proposed the theory that he was likely hacked. Again, there is no way to know for sure what exactly happened.&nbsp;

Bitcoin just made a person rich. He held on to it for 14 years, and suddenly decided to move it. It is now worth over a billion dollars. Why would he do this? Some people think his BTC wallet could have been hacked.

A person who once bought 10,000 Bitcoins left it in his wallet for 14 years. At that time, the investment was worth around $7,800. Today, it is worth $1.1 billion. Who this lucky person is is not known, and there is no way to learn about their identity. But the news has shocked everyone in the crypto world. The Bitcoin whale is believed to have been close to Bitcoin creator Satoshi Nakamoto. If not him, then with people who were close to Nakamoto. Bitcoin whale is a term used for people who own more than 10,000 BTC. In this case, the person bought exactly 10,000 BTC 14 years ago, and this has triggered a strange theory. Bitcoin price soaring, at a record-high Bitcoin has been rising in the charts over the past few months. It soared in 2024 and touched an all-time high of $116,046.44 on 10 July. BTC was worth $62,000 in July 2024. Its value continues to skyrocket, and is way, way higher than what it was at the time of launch. Most people who bought Bitcoin at the time paid meagre amounts for it. Those who retained them are millionaires and billionaires today. However, the unlucky ones who did not hold on to them have lost big. But not this Bitcoin shark who is now a billionaire after spending only thousands of dollars. Also Read: Bitcoin hits fresh all-time high, surges above 116,000 mark Theory for why BTC was sold after 14 years Reports suggest that this person was likely involved in the earliest operations of Bitcoin. This is because the transaction was sent to a ‘legacy’ Bitcoin address, or one of the very first ones made. Most of the long-term crypto holders have never sold their BTC, which looks like a well-thought-out plan that all of them follow. This is supported by the fact that over 70 per cent of these wallets have been dormant for a decade or more. So if none of them want to sell their BTC and are planning on keeping them forever, why did this particular person move it all of a sudden? Some people have proposed the theory that he was likely hacked. Again, there is no way to know for sure what exactly happened.

Bitcoin just made a person rich. He held on to it for 14 years, and suddenly decided to move it. It is now worth over a billion dollars. Why would he do this? Some people think his BTC wallet could have been hacked.

Bitcoin shark left BTC worth $7,800 in his wallet for 14 years. He just realised he is now a billionaire

Bitcoin, the world’s largest cryptocurrency, has surged to a new all-time high of $116,046.44 as of 2127 GMT, breaking its previous record of $113,734.64 set earlier in the day. This latest price surge marks an impressive 24 per cent rise in Bitcoin’s value this year, further solidifying its place as a key asset in the financial world. The surge has been powered by robust demand from institutional investors, who have increasingly turned to Bitcoin as a store of value, alongside other digital assets like Ethereum.&nbsp;The boost comes at a time when broader market sentiment is shifting toward riskier investments, with stocks hitting new highs and bullish sentiment returning to the technology sector. Bitcoin has traded above the $100,000 mark for over 60 consecutive days, further cementing its status as a mainstream investment asset.Trump’s administration, particularly through its executive orders and supportive policies, has also played a pivotal role in Bitcoin's rise. In March, President Donald Trump signed an executive order to establish a strategic reserve of cryptocurrencies, signalling that the US government is taking a more active role in supporting the digital currency market. In addition, Trump appointed crypto-friendly figures such as SEC Commissioner Paul Atkins and White House AI czar David Sacks, creating a more favourable regulatory environment for the cryptocurrency industry.<h2>Trump’s family businesses eye crypto investments</h2>Trump’s family businesses are also making moves in the cryptocurrency market. Trump Media &amp; Technology Group, the parent company of Truth Social, has expressed interest in launching an exchange-traded fund (ETF) that will invest in multiple cryptocurrencies, including Bitcoin. The firm recently filed a report with the SEC, revealing its plans to bring more institutional capital into the crypto space. This development is particularly noteworthy given that Trump’s family holdings are reportedly substantial investors in Bitcoin and other digital assets.Earlier this year, Trump Media raised $2.5 billion in cash to fund crypto investments, further highlighting the growing interest in digital currencies within Trump’s business empire. While Trump himself does not hold an official role in the company, his family’s involvement and the substantial backing of the firm in crypto projects signal the former president’s growing belief in the long-term potential of Bitcoin.Ethereum, the second-largest cryptocurrency, also saw a rise, climbing 3.01 per cent to $2,905.24 as of 2130 GMT. This increase, alongside Bitcoin’s meteoric rise, points to a broader recovery in the cryptocurrency market, with altcoins such as Solana and Dogecoin also posting gains.<h2>Institutional involvement boosts Bitcoin’s legitimacy</h2>The surge in Bitcoin’s price comes as institutional investors continue to show increasing interest in digital currencies. Notably, companies have been on a Bitcoin-buying spree, outpacing inflows into Bitcoin exchange-traded funds (ETFs) during the second quarter. This institutional demand is seen as a key factor in pushing Bitcoin to new heights, as it gives the cryptocurrency more credibility as a legitimate financial asset.The optimism surrounding Bitcoin also comes on the heels of new stablecoin legislation making its way through Congress, which is expected to further solidify the regulatory framework for digital assets in the US. Investors are now looking ahead to “Crypto Week,” set to kick off on July 14, with many anticipating that this event could fuel further bullish sentiment in the market.Bitcoin’s latest record highs are seen as a sign that the cryptocurrency market, especially Bitcoin, is here to stay as a core part of the global financial ecosystem. As institutional players and even US president Donald Trump continue to embrace digital currencies, the future of crypto seems brighter than ever.

The surge in Bitcoin has been powered by robust demand from institutional investors, who have increasingly turned to Bitcoin as a store of value, alongside other digital assets like Ethereum.

Bitcoin, the world’s largest cryptocurrency, has surged to a new all-time high of $116,046.44 as of 2127 GMT, breaking its previous record of $113,734.64 set earlier in the day. This latest price surge marks an impressive 24 per cent rise in Bitcoin’s value this year, further solidifying its place as a key asset in the financial world. The surge has been powered by robust demand from institutional investors, who have increasingly turned to Bitcoin as a store of value, alongside other digital assets like Ethereum. The boost comes at a time when broader market sentiment is shifting toward riskier investments, with stocks hitting new highs and bullish sentiment returning to the technology sector. Bitcoin has traded above the $100,000 mark for over 60 consecutive days, further cementing its status as a mainstream investment asset. Trump’s administration, particularly through its executive orders and supportive policies, has also played a pivotal role in Bitcoin's rise. In March, President Donald Trump signed an executive order to establish a strategic reserve of cryptocurrencies, signalling that the US government is taking a more active role in supporting the digital currency market. In addition, Trump appointed crypto-friendly figures such as SEC Commissioner Paul Atkins and White House AI czar David Sacks, creating a more favourable regulatory environment for the cryptocurrency industry. Trump’s family businesses eye crypto investments Trump’s family businesses are also making moves in the cryptocurrency market. Trump Media & Technology Group, the parent company of Truth Social, has expressed interest in launching an exchange-traded fund (ETF) that will invest in multiple cryptocurrencies, including Bitcoin. The firm recently filed a report with the SEC, revealing its plans to bring more institutional capital into the crypto space. This development is particularly noteworthy given that Trump’s family holdings are reportedly substantial investors in Bitcoin and other digital assets. Earlier this year, Trump Media raised $2.5 billion in cash to fund crypto investments, further highlighting the growing interest in digital currencies within Trump’s business empire. While Trump himself does not hold an official role in the company, his family’s involvement and the substantial backing of the firm in crypto projects signal the former president’s growing belief in the long-term potential of Bitcoin. Ethereum, the second-largest cryptocurrency, also saw a rise, climbing 3.01 per cent to $2,905.24 as of 2130 GMT. This increase, alongside Bitcoin’s meteoric rise, points to a broader recovery in the cryptocurrency market, with altcoins such as Solana and Dogecoin also posting gains. Institutional involvement boosts Bitcoin’s legitimacy The surge in Bitcoin’s price comes as institutional investors continue to show increasing interest in digital currencies. Notably, companies have been on a Bitcoin-buying spree, outpacing inflows into Bitcoin exchange-traded funds (ETFs) during the second quarter. This institutional demand is seen as a key factor in pushing Bitcoin to new heights, as it gives the cryptocurrency more credibility as a legitimate financial asset. The optimism surrounding Bitcoin also comes on the heels of new stablecoin legislation making its way through Congress, which is expected to further solidify the regulatory framework for digital assets in the US. Investors are now looking ahead to “Crypto Week,” set to kick off on July 14, with many anticipating that this event could fuel further bullish sentiment in the market. Bitcoin’s latest record highs are seen as a sign that the cryptocurrency market, especially Bitcoin, is here to stay as a core part of the global financial ecosystem. As institutional players and even US president Donald Trump continue to embrace digital currencies, the future of crypto seems brighter than ever.

The surge in Bitcoin has been powered by robust demand from institutional investors, who have increasingly turned to Bitcoin as a store of value, alongside other digital assets like Ethereum.

Bitcoin hits fresh all-time high, surges above 116,000 mark

<blockquote>Bitcoin reached a new all-time high on July 9, soaring past the $112,000 mark for the first time in history, as institutional demand and a risk-on sentiment in global markets fuelled its rally. The cryptocurrency touched an intraday high of $112,052.24, surpassing its previous peak of $111,989 set in May. As of late July 9, Bitcoin was trading at approximately $111,259, marking a 0.4 per cent increase from the previous day and an impressive 18 per cent year-to-date gain. This surge in price comes amid a broader rally in equities, particularly driven by tech stocks like Nvidia, which briefly touched a $4 trillion market cap.&nbsp;</blockquote>Bitcoin’s rise aligns with the bullish sentiment seen in risk assets, with both Bitcoin and stocks benefiting from the same market forces. As Bitcoin continues to gain traction among corporate treasuries and institutional investors, some experts speculate that the cryptocurrency could push toward $120,000 or higher in the coming weeks.<h2>Bitcoin’s resilient growth and institutional adoption</h2>Bitcoin’s climb is also indicative of a shift in investor perception. As Anthony Pompliano, founder of Professional Capital Management, recently highlighted, Bitcoin is “the only asset” that becomes less risky as it grows in size. In a letter to investors, Pompliano noted that the asset class’s increasing market cap, now measured in trillions, has made it more accessible to a wider range of institutional capital allocators.This growing acceptance by traditional financial players has been bolstered by the Trump administration’s crypto-friendly policies, opening new doors for capital inflows. Furthermore, major firms like Trump Media &amp; Technology Group are now looking to launch crypto-focused exchange-traded funds (ETFs), which will invest in assets like Bitcoin, Ether, Solana, and Ripple. This movement further reflects a broadening of institutional interest in digital assets.In addition to Bitcoin, other cryptocurrencies also saw gains. Ether hit a one-month high of $2,794.95, rising 5.4 per cent on the day, while stocks tied to crypto-related businesses like Coinbase and MicroStrategy also surged. MicroStrategy, co-founded by Bitcoin advocate Michael Saylor, rose 4.7 per cent, reflecting the increasing link between digital assets and tech-driven market growth.<h2>Bitcoin’s momentum faces short-term liquidity risks</h2>Despite the optimistic outlook for Bitcoin, market experts are cautious about potential volatility in the short term. In the hours around Bitcoin’s latest record-breaking rally, nearly $340 million in liquidations of Bitcoin short positions were reported, highlighting the potential for quick reversals. However, many remain hopeful that Bitcoin’s long-term narrative as “digital gold” and its ongoing adoption as a reserve asset will continue to support its price trajectory through the second half of 2025. With expectations that more companies will adopt Bitcoin and Congress inches closer to potential crypto legislation, Bitcoin’s bullish momentum seems set to continue.

This surge in Bitcoin's price comes amid a broader rally in equities, particularly driven by tech stocks like Nvidia, which briefly touched a $4 trillion market cap.

Bitcoin reached a new all-time high on July 9, soaring past the $112,000 mark for the first time in history, as institutional demand and a risk-on sentiment in global markets fuelled its rally. The cryptocurrency touched an intraday high of $112,052.24, surpassing its previous peak of $111,989 set in May. As of late July 9, Bitcoin was trading at approximately $111,259, marking a 0.4 per cent increase from the previous day and an impressive 18 per cent year-to-date gain. This surge in price comes amid a broader rally in equities, particularly driven by tech stocks like Nvidia, which briefly touched a $4 trillion market cap. Bitcoin’s rise aligns with the bullish sentiment seen in risk assets, with both Bitcoin and stocks benefiting from the same market forces. As Bitcoin continues to gain traction among corporate treasuries and institutional investors, some experts speculate that the cryptocurrency could push toward $120,000 or higher in the coming weeks. Bitcoin’s resilient growth and institutional adoption Bitcoin’s climb is also indicative of a shift in investor perception. As Anthony Pompliano, founder of Professional Capital Management, recently highlighted, Bitcoin is “the only asset” that becomes less risky as it grows in size. In a letter to investors, Pompliano noted that the asset class’s increasing market cap, now measured in trillions, has made it more accessible to a wider range of institutional capital allocators. This growing acceptance by traditional financial players has been bolstered by the Trump administration’s crypto-friendly policies, opening new doors for capital inflows. Furthermore, major firms like Trump Media & Technology Group are now looking to launch crypto-focused exchange-traded funds (ETFs), which will invest in assets like Bitcoin, Ether, Solana, and Ripple. This movement further reflects a broadening of institutional interest in digital assets. In addition to Bitcoin, other cryptocurrencies also saw gains. Ether hit a one-month high of $2,794.95, rising 5.4 per cent on the day, while stocks tied to crypto-related businesses like Coinbase and MicroStrategy also surged. MicroStrategy, co-founded by Bitcoin advocate Michael Saylor, rose 4.7 per cent, reflecting the increasing link between digital assets and tech-driven market growth. Bitcoin’s momentum faces short-term liquidity risks Despite the optimistic outlook for Bitcoin, market experts are cautious about potential volatility in the short term. In the hours around Bitcoin’s latest record-breaking rally, nearly $340 million in liquidations of Bitcoin short positions were reported, highlighting the potential for quick reversals. However, many remain hopeful that Bitcoin’s long-term narrative as “digital gold” and its ongoing adoption as a reserve asset will continue to support its price trajectory through the second half of 2025. With expectations that more companies will adopt Bitcoin and Congress inches closer to potential crypto legislation, Bitcoin’s bullish momentum seems set to continue.

This surge in Bitcoin's price comes amid a broader rally in equities, particularly driven by tech stocks like Nvidia, which briefly touched a $4 trillion market cap.

Bitcoin surges to new all-time high above $112,000 amid growing institutional demand

Chinese-linked firm GD Culture Group (GDC) has announced to raise $300 million in purchasing TRUMP tokens and Bitcoin, ahead of much-anticipated US President Donald Trump's crypto dinner.&nbsp;
According to a May 11 filing with the US Securities and Exchange Commission, GD Culture Group, a Nasdaq-listed holding company with Chinese ties, will be investing in the <a href="https://www.wionews.com/tags/trump">$TRUMP</a>.&nbsp;
The company had just eight employees and no recorded revenue last year. It also claims to operate an e-commerce platform via TikTok, however it has appeared to be shifting its strategy.&nbsp;
Also read: <a href="https://www.wionews.com/world/crypto-trump-and-truth-social-how-greatest-salesman-trump-doubled-his-net-worth-in-last-one-year-8932391">Crypto, $TRUMP and Truth Social: How 'greatest salesman' Trump doubled his net worth in last one year</a>
However, this raised alarms over potential conflicts of interest and regulatory gaps. Meanwhile, the ongoing US and China trade conflict also comes along in this.&nbsp;
This comes just weeks after Trump was slammed for hosting a gala dinner for the top 200 TRUMP holders and offering a meeting with the president for the top 25 holders.&nbsp;
It also helped in raising the value of $TRUMP meme coin by over 40 per cent from the announcement through May 12, which partially reversed an 88% decline in the past weeks.&nbsp;
Notably, the top holders of the $TRUMP meme coin spent from $53,500 to $16.4 million to get a chance to be invited for a dinner with Trump, according to Inca Digital's analysis.&nbsp;
WATCH |&nbsp; <a href="https://www.wionews.com/videos/trump-launches-trump-coin-ahead-of-inauguration">Trump Launches '$trump' Coin Ahead Of Inauguration</a>
As of the contest's end on May 12, the biggest holder of the digital currency was an account named Sun VIP. However, it is impossible to get the identity of any of the account owners due to the anonymity of digital wallets.&nbsp;
"A ton of these users sent funds to international exchanges," Austin Ryan, director of marketing for Inca Digital, a firm that analyzes crypto data for risk issues like liquidity and front-running, said. "The thought is that if they are interacting with those exchanges, they are not in the US."
Trump will be hosting the dinner on May 22 at the Trump National Golf Club in Washington, DC, as per the $TRUMP meme coin website. The top 25 holders will "will enjoy a Private VIP Reception with President TRUMP" as well as a "Special VIP TOUR," it read.&nbsp;
WATCH | <a href="https://www.wionews.com/videos/donald-trumps-trump-meme-coin-takes-crypto-world-by-storm">Donald Trump's $TRUMP Meme Coin Takes Crypto World By Storm</a>
&nbsp;

Notably, the top holders of the $TRUMP meme coin spent from $53,500 to $16.4 million to get a chance to be invited for a dinner with Trump. World

Chinese-linked firm GD Culture Group (GDC) has announced to raise $300 million in purchasing TRUMP tokens and Bitcoin, ahead of much-anticipated US President Donald Trump's crypto dinner. According to a May 11 filing with the US Securities and Exchange Commission, GD Culture Group, a Nasdaq-listed holding company with Chinese ties, will be investing in the $TRUMP. The company had just eight employees and no recorded revenue last year. It also claims to operate an e-commerce platform via TikTok, however it has appeared to be shifting its strategy. Also read: Crypto, $TRUMP and Truth Social: How 'greatest salesman' Trump doubled his net worth in last one year However, this raised alarms over potential conflicts of interest and regulatory gaps. Meanwhile, the ongoing US and China trade conflict also comes along in this. This comes just weeks after Trump was slammed for hosting a gala dinner for the top 200 TRUMP holders and offering a meeting with the president for the top 25 holders. It also helped in raising the value of $TRUMP meme coin by over 40 per cent from the announcement through May 12, which partially reversed an 88% decline in the past weeks. Notably, the top holders of the $TRUMP meme coin spent from $53,500 to $16.4 million to get a chance to be invited for a dinner with Trump, according to Inca Digital's analysis. WATCH | Trump Launches '$trump' Coin Ahead Of Inauguration As of the contest's end on May 12, the biggest holder of the digital currency was an account named Sun VIP. However, it is impossible to get the identity of any of the account owners due to the anonymity of digital wallets. "A ton of these users sent funds to international exchanges," Austin Ryan, director of marketing for Inca Digital, a firm that analyzes crypto data for risk issues like liquidity and front-running, said. "The thought is that if they are interacting with those exchanges, they are not in the US." Trump will be hosting the dinner on May 22 at the Trump National Golf Club in Washington, DC, as per the $TRUMP meme coin website. The top 25 holders will "will enjoy a Private VIP Reception with President TRUMP" as well as a "Special VIP TOUR," it read. WATCH | Donald Trump's $TRUMP Meme Coin Takes Crypto World By Storm

All this to get dinner with Trump and VIP tour? Chinese-linked firm raises $300 mn to buy $TRUMP meme coin

Highlighting the lack of regulations for transactions in cryptocurrencies like Bitcoin in the country, the Supreme Court has said that Bitcoin trading in India now is like a refined way of doing Hawala business. The top court lamented that the Centre has till now not come up with a clear regime on regulating virtual currency.
A bench of Justices Surya Kant and N. Kotiswar Singh made the remarks on Monday while hearing the bail application of one Shailesh Babulal Bhatt, who was arrested by the police for alleged illegal Bitcoin trade.
The bench said that while dealing with a case related to Bitcoin trade two years back, it had asked the Centre to apprise the court about the policy regime on the trade of virtual currency, but till now it has not received any response.
Senior advocate Mukul Rohatgi, appearing for the accused, submitted that trading in Bitcoin is not illegal in India after the apex court quashed a circular of the Reserve Bank of India, and therefore his client was wrongly arrested. Justice Surya Kant told Rohatgi that though he personally does not understand much about Bitcoin, the court has been telling the Centre that if there is a regulatory regime, there will not be any problem.
Also Read | <a href="https://www.wionews.com/india-news/23268-in-bank-accounts-maruti-baleno-and-more-assets-of-supreme-court-judges-made-public-in-big-transparency-move-9039588">$23,266 in bank accounts, Maruti Baleno and more: Assets of Supreme Court judges made public in big transparency move</a> &ldquo;All I understand is that there are some genuine Bitcoin and some are fake Bitcoin,&rdquo; Justice Surya Jant said, and told Rohatgi, &ldquo;You see, trading in Bitcoin in India is like dealing with a refined way of Hawala business. There are no regulations at present.&rdquo;&nbsp; Rohatgi replied that he too does not understand much about the trade but highlighted that Bitcoin has enormous value, and one can walk into a showroom in a foreign country with just one bitcoin and buy a car. &ldquo;I checked on Sunday, the value of one Bitcoin was ₹82 lakh,&rdquo; Rohatgi said.
Additional Solicitor General Aishwarya Bhati, appearing for the Gujarat government and the Enforcement Directorate, said they would like to file a detailed counter to the bail application as it was not about the bitcoin trade alone. The top court gave 10 days to the state and the ED to file their responses and listed it for hearing on May 19.
Also Read |&nbsp;<a href="https://www.wionews.com/pakistan/pahalgam-terror-attack-what-pakistan-asked-for-at-unsc-meeting-and-did-not-get-9039055" target="_blank" rel="noopener">'Was LeT involved or not?&rsquo;: Pakistan faces tough questions at UNSC meeting over Pahalgam attack, council rejects &lsquo;false flag&rsquo; narrative</a> Bhatt has claimed that he was arrested by the police on August 14 last year, and since then he has been in custody. He has challenged the February 25 order of the Gujarat High Court denying him bail in the case. In January last year, the Centre informed the top court that it was yet to take a decision on a mechanism to regulate cryptocurrencies and effectively investigate related offences. On February 25, 2022, the top court asked the Centre to make its stand clear on whether cryptocurrency trade involving bitcoin or any other such currencies is legal in India or not. The top court was dealing with a case related to the quashing of multiple FIRs registered against an individual for allegedly duping investors across India by inducing them to trade in Bitcoin and assuring them of high returns.

India News: Senior advocate Mukul Rohatgi replied that he too does not understand much about the trade but highlighted that Bitcoin has enormous value, and one can walk into a showroom in a foreign country with just one bitcoin and buy a car.

Highlighting the lack of regulations for transactions in cryptocurrencies like Bitcoin in the country, the Supreme Court has said that Bitcoin trading in India now is like a refined way of doing Hawala business. The top court lamented that the Centre has till now not come up with a clear regime on regulating virtual currency. A bench of Justices Surya Kant and N. Kotiswar Singh made the remarks on Monday while hearing the bail application of one Shailesh Babulal Bhatt, who was arrested by the police for alleged illegal Bitcoin trade. The bench said that while dealing with a case related to Bitcoin trade two years back, it had asked the Centre to apprise the court about the policy regime on the trade of virtual currency, but till now it has not received any response. Senior advocate Mukul Rohatgi, appearing for the accused, submitted that trading in Bitcoin is not illegal in India after the apex court quashed a circular of the Reserve Bank of India, and therefore his client was wrongly arrested. Justice Surya Kant told Rohatgi that though he personally does not understand much about Bitcoin, the court has been telling the Centre that if there is a regulatory regime, there will not be any problem. Also Read | $23,266 in bank accounts, Maruti Baleno and more: Assets of Supreme Court judges made public in big transparency move “All I understand is that there are some genuine Bitcoin and some are fake Bitcoin,” Justice Surya Jant said, and told Rohatgi, “You see, trading in Bitcoin in India is like dealing with a refined way of Hawala business. There are no regulations at present.” Rohatgi replied that he too does not understand much about the trade but highlighted that Bitcoin has enormous value, and one can walk into a showroom in a foreign country with just one bitcoin and buy a car. “I checked on Sunday, the value of one Bitcoin was ₹82 lakh,” Rohatgi said. Additional Solicitor General Aishwarya Bhati, appearing for the Gujarat government and the Enforcement Directorate, said they would like to file a detailed counter to the bail application as it was not about the bitcoin trade alone. The top court gave 10 days to the state and the ED to file their responses and listed it for hearing on May 19. Also Read | 'Was LeT involved or not?’: Pakistan faces tough questions at UNSC meeting over Pahalgam attack, council rejects ‘false flag’ narrative Bhatt has claimed that he was arrested by the police on August 14 last year, and since then he has been in custody. He has challenged the February 25 order of the Gujarat High Court denying him bail in the case. In January last year, the Centre informed the top court that it was yet to take a decision on a mechanism to regulate cryptocurrencies and effectively investigate related offences. On February 25, 2022, the top court asked the Centre to make its stand clear on whether cryptocurrency trade involving bitcoin or any other such currencies is legal in India or not. The top court was dealing with a case related to the quashing of multiple FIRs registered against an individual for allegedly duping investors across India by inducing them to trade in Bitcoin and assuring them of high returns.

Bitcoin trading in India is a refined way of doing Hawala business: Supreme Court

Bitcoin surged past gold and tech stocks in April, sparking debate over its role as a refuge from market turmoil. After historic swings in April, an age-old market maxim looms over the bounce in us stocks: sell in may and go away. One of the best-known market trends, the "Sell in may" effect, is backed by decades of historical performance

Bitcoin surges past gold and tech stocks In April

Bitcoin is back above 90,000 dollars for the first time since early march, prompting fresh talk of crypto decoupling from equities, with the og token tracking gold more closely in recent days amid trump's tariff turmoil.

Bitcoin Trades Above $90,000 For First Time Since Early March

As the US Decides whether tariffs are a good or bad thing, both the stock market and the crypto market have taken a battering.

While there are glimpses of hope for a recovery, massive liquidations as a result of extreme leverage weigh heavily on the sector.

Bitcoin hits first bull market support levels

The Trump administration is signaling a major shift in US Crypto policy. Recently, Donald Trump hosted top cryptocurrency leaders at the white house, marking a significant moment for an industry that spent over 245 million dollars in the 2024 election cycle.

Trump pushes for US as ‘Crypto Capital’

Memecoins aren't just jokes anymore &mdash; they are billion-dollar scandals. Nearly every celebrity-backed memecoin follows the same trend: skyrocketing prices and then a significant collapse, leaving investors burned. Still, the staff of the US Securities and Exchange Commission (SEC) said memecoins are not 'securities.'<o:p></o:p>
The SEC's clarity comes after the rapid rise of such cryptos following Trump's election win last year and their recent crash. As the 3.3 trillion-dollar crypto market inches toward mainstream acceptance, the memecoin frenzy has threatened the sector's credibility. The SEC staff's directive says invest in memecoins at your own risk. The guidance shows there won't be any regulatory oversight in memecoins. The regulator's division of corporation finance staff noted that meme coins "typically have limited or no use or functionality" and are "more akin to collectibles."<o:p></o:p>
<h2 class="MsoNormal">US SEC lets memecoins slide<o:p></o:p></h2>
The SEC staff noted, "It is the division's view that transactions in the types of memecoins...do not involve the offer and sale of securities under the federal securities laws." The statement added, "Persons who participate in the offer and sale of memecoins do not need to register their transactions with the commission. ... Accordingly, neither meme coin purchasers nor holders are protected by the federal securities laws."<o:p></o:p>
While the SEC's stance lines up with the new administration's pro-crypto stance, the digital industry is being threatened by the rise and crash of memecoins. The latest memecoin scandal has rocked Argentina and the crypto world. Libra, a memecoin promoted by Argentine President Javier Milei, soared to 4.5 billion dollars in market value within an hour of its launch. But the hype was short-lived. Within hours, the token crashed by 80 per cent, leaving investors reeling. This is not an isolated event. Memecoins &mdash; once a quirky blend of internet culture and finance &mdash; have become high-risk speculative assets. While some early investors profit, the majority of investors suffer heavy losses. Industry experts argue that these speculative tokens overshadow serious blockchain projects.<o:p></o:p>
The launch of the trump memecoin &mdash; followed by a similar move from Melania Trump &mdash; has triggered scrutiny. Crypto lobbyists fear these schemes could derail long-awaited regulatory clarity for digital assets, just as bitcoin and Ethereum ETFs are gaining mainstream traction on Wall Street. The SEC's guidance will accentuate the problems further as pump-and-dump schemes attract more retail investors. Only the insiders cash out, leaving many investors with massive losses.<o:p></o:p>
(With input from the agencies)<o:p></o:p>

Business & Economy: As the 3.3 trillion-dollar crypto market inches toward mainstream acceptance, the memecoin frenzy has threatened the sector's credibility. The SEC staff's directive says invest in memecoins at your own risk.

Memecoins aren't just jokes anymore — they are billion-dollar scandals. Nearly every celebrity-backed memecoin follows the same trend: skyrocketing prices and then a significant collapse, leaving investors burned. Still, the staff of the US Securities and Exchange Commission (SEC) said memecoins are not 'securities.' The SEC's clarity comes after the rapid rise of such cryptos following Trump's election win last year and their recent crash. As the 3.3 trillion-dollar crypto market inches toward mainstream acceptance, the memecoin frenzy has threatened the sector's credibility. The SEC staff's directive says invest in memecoins at your own risk. The guidance shows there won't be any regulatory oversight in memecoins. The regulator's division of corporation finance staff noted that meme coins "typically have limited or no use or functionality" and are "more akin to collectibles." US SEC lets memecoins slide The SEC staff noted, "It is the division's view that transactions in the types of memecoins...do not involve the offer and sale of securities under the federal securities laws." The statement added, "Persons who participate in the offer and sale of memecoins do not need to register their transactions with the commission. ... Accordingly, neither meme coin purchasers nor holders are protected by the federal securities laws." While the SEC's stance lines up with the new administration's pro-crypto stance, the digital industry is being threatened by the rise and crash of memecoins. The latest memecoin scandal has rocked Argentina and the crypto world. Libra, a memecoin promoted by Argentine President Javier Milei, soared to 4.5 billion dollars in market value within an hour of its launch. But the hype was short-lived. Within hours, the token crashed by 80 per cent, leaving investors reeling. This is not an isolated event. Memecoins — once a quirky blend of internet culture and finance — have become high-risk speculative assets. While some early investors profit, the majority of investors suffer heavy losses. Industry experts argue that these speculative tokens overshadow serious blockchain projects. The launch of the trump memecoin — followed by a similar move from Melania Trump — has triggered scrutiny. Crypto lobbyists fear these schemes could derail long-awaited regulatory clarity for digital assets, just as bitcoin and Ethereum ETFs are gaining mainstream traction on Wall Street. The SEC's guidance will accentuate the problems further as pump-and-dump schemes attract more retail investors. Only the insiders cash out, leaving many investors with massive losses. (With input from the agencies)

Invest in memecoins at your own risk, says US SEC

Global markets are starting to feel the jitters of US President Donald Trump's tariff rhetoric. The cautious sentiment comes after trump said taxes on Mexican on Canadian imports will "go ahead". While the import tariffs were delayed by a month, the US President's threat comes ahead of Monday&rsquo;s deadline and weighed on markets.<o:p></o:p>
US treasuries rose on flight-to-safety bets, while global stocks from Asia to Europe to wall street took a hit. Apart from tariffs, Trump is demanding US allies impose stricter restrictions on China&rsquo;s semiconductor industry. He is also seeking to reduce Beijing&rsquo;s investment in various American industries. <o:p></o:p>
<h2 class="MsoNormal">US economy is starting to look iffy<o:p></o:p></h2>
The growing rift between the United States and its allies over the situation in Ukraine is also contributing to the pessimism. At the same time, things are looking uncertain for the US economy.<o:p></o:p>
According to Michael Hartnett, a strategist at bank of America, "suspicion" is growing over the path of the S&amp;P 500 due to the risks. Compared to last week's all-time high, the benchmark is down about 2.6 per cent. A drop of another 6 per cent, though, might prompt steps from the administration to counter the slide.<o:p></o:p>
The magnificent seven stocks that contributed most to the S&amp;P 500's rise in the past two years are off to a shaky start this year. After reaching a peak in December, the Bloomberg magnificent 7 index &mdash; which includes Apple, Nvidia, Microsoft, Alphabet, Amazon.com, Meta platforms, and Tesla &mdash; has declined nearly nine percent. The mega tech firms are indicating a trend towards correction territory.<o:p></o:p>
The possibility of stricter chip limitations on China is causing semiconductor stock prices to tumble. Intel and Nvidia are down around 1.5 per cent, while ASML and ASMI are down 2 per cent or more in Europe. Japan's Tokyo electron has shown about 5 per cent losses.<o:p></o:p>
Joining the broader risk asset slide, bitcoin's price fell below 90,000 dollars for the first time in over a month. Crypto-exposed stocks have also been falling in line with the OG token's fall to its lowest level since mid-November. Bitcoin is down over 19,000 dollars from its peak of above 109,000 dollars on the day of trump's inauguration last month. MicroStrategy and Coinbase have lost over 5 per cent.<o:p></o:p>
(With the inputs from the agencies)<o:p></o:p>

Business & Economy: While the import tariffs were delayed by a month, the US President's threat comes ahead of Monday’s deadline and weighed on markets.

Global markets are starting to feel the jitters of US President Donald Trump's tariff rhetoric. The cautious sentiment comes after trump said taxes on Mexican on Canadian imports will "go ahead". While the import tariffs were delayed by a month, the US President's threat comes ahead of Monday’s deadline and weighed on markets. US treasuries rose on flight-to-safety bets, while global stocks from Asia to Europe to wall street took a hit. Apart from tariffs, Trump is demanding US allies impose stricter restrictions on China’s semiconductor industry. He is also seeking to reduce Beijing’s investment in various American industries. US economy is starting to look iffy The growing rift between the United States and its allies over the situation in Ukraine is also contributing to the pessimism. At the same time, things are looking uncertain for the US economy. According to Michael Hartnett, a strategist at bank of America, "suspicion" is growing over the path of the S&P 500 due to the risks. Compared to last week's all-time high, the benchmark is down about 2.6 per cent. A drop of another 6 per cent, though, might prompt steps from the administration to counter the slide. The magnificent seven stocks that contributed most to the S&P 500's rise in the past two years are off to a shaky start this year. After reaching a peak in December, the Bloomberg magnificent 7 index — which includes Apple, Nvidia, Microsoft, Alphabet, Amazon.com, Meta platforms, and Tesla — has declined nearly nine percent. The mega tech firms are indicating a trend towards correction territory. The possibility of stricter chip limitations on China is causing semiconductor stock prices to tumble. Intel and Nvidia are down around 1.5 per cent, while ASML and ASMI are down 2 per cent or more in Europe. Japan's Tokyo electron has shown about 5 per cent losses. Joining the broader risk asset slide, bitcoin's price fell below 90,000 dollars for the first time in over a month. Crypto-exposed stocks have also been falling in line with the OG token's fall to its lowest level since mid-November. Bitcoin is down over 19,000 dollars from its peak of above 109,000 dollars on the day of trump's inauguration last month. MicroStrategy and Coinbase have lost over 5 per cent. (With the inputs from the agencies)

Markets wrap: Trump policies starting to hurt

The Central Bureau of Investigation (CBI) on Tuesday conducted searches at 60 locations across India as part of its probe into the USD 757.26 million GainBitcoin cryptocurrency scam, officials said.&nbsp;
The searches were spread across multiple cities, including Delhi NCR, Pune, Chandigarh, Nanded, Kolhapur, and Bengaluru, targeting premises allegedly linked to key accused individuals, a CBI spokesperson said in a statement.
The raided premises are linked to key accused, their associates, and entities suspected of laundering ill-gotten gains from the scam.&nbsp;
As the CBI raided, they recovered some crypto wallets, incriminating digital evidence, digital devices, and evidence from email/clouds.&nbsp;
Also read: <a href="https://www.wionews.com/world/bitcoin-hits-new-record-high-above-109000-awaiting-trump-8636981" rel="dofollow">Bitcoin hits record high of $109,000 ahead of Trump's inauguration ceremony</a>
<h2>What is GainBitcoin?</h2>
Launched in 2015 by Amit Bhardwaj and a network of agents, GainBitcoin was a Ponzi scheme and was operated through multiple websites under the facade of a company named Variabletech Pte. Ltd.
The scheme lured investors by promising them lucrative monthly returns of 10 per cent in Bitcoin for 18 months.&nbsp;
It further encouraged investors to buy Bitcoin from different exchanges and invest them in GainBitcoin through cloud mining contracts.&nbsp;
The model followed a multi-level marketing (MLM) structure, commonly associated with pyramid-structured Ponzi schemes, where payouts are dependent on bringing in new investors.
Also read: <a href="https://www.wionews.com/world/luxury-brands-to-consider-accepting-crypto-payments-as-bitcoin-soars-785112" rel="dofollow">Luxury brands to consider accepting crypto payments as bitcoin soars</a>
<h2>What was the scam?</h2>
In the beginning, investors received payouts in Bitcoin, however, the scheme later began to collapse, with fresh investments drying up by 2017.&nbsp;
GainBitcoin then unilaterally switched payouts to an in-house cryptocurrency called MCAP, which held significantly less value than Bitcoin, further misleading investors.&nbsp;
Also read: <a href="https://www.wionews.com/world/wales-man-fights-to-recover-ps569-million-worth-of-bitcoin-thrown-away-by-ex-girlfriend-779724" rel="dofollow">Wales man fights to recover $ 710 million worth of bitcoin thrown in garbage dump by ex-girlfriend</a>
Following this, investors began to register FIRs all across India, alleging large-scale fraud and money laundering. Cases were registered in Jammu &amp; Kashmir, Punjab, Chandigarh, Delhi, West Bengal, Madhya Pradesh, Karnataka, and Maharashtra.&nbsp;
Later, the Supreme Court transferred them to the CBI for a unified investigation.&nbsp;
(With inputs from agencies)

India news: Searches were spread across cities, including Delhi NCR, Pune, Chandigarh, Nanded, Kolhapur, and Bengaluru, targeting premises allegedly linked to key accused.

The Central Bureau of Investigation (CBI) on Tuesday conducted searches at 60 locations across India as part of its probe into the USD 757.26 million GainBitcoin cryptocurrency scam, officials said. The searches were spread across multiple cities, including Delhi NCR, Pune, Chandigarh, Nanded, Kolhapur, and Bengaluru, targeting premises allegedly linked to key accused individuals, a CBI spokesperson said in a statement. The raided premises are linked to key accused, their associates, and entities suspected of laundering ill-gotten gains from the scam. As the CBI raided, they recovered some crypto wallets, incriminating digital evidence, digital devices, and evidence from email/clouds. Also read: Bitcoin hits record high of $109,000 ahead of Trump's inauguration ceremony What is GainBitcoin? Launched in 2015 by Amit Bhardwaj and a network of agents, GainBitcoin was a Ponzi scheme and was operated through multiple websites under the facade of a company named Variabletech Pte. Ltd. The scheme lured investors by promising them lucrative monthly returns of 10 per cent in Bitcoin for 18 months. It further encouraged investors to buy Bitcoin from different exchanges and invest them in GainBitcoin through cloud mining contracts. The model followed a multi-level marketing (MLM) structure, commonly associated with pyramid-structured Ponzi schemes, where payouts are dependent on bringing in new investors. Also read: Luxury brands to consider accepting crypto payments as bitcoin soars What was the scam? In the beginning, investors received payouts in Bitcoin, however, the scheme later began to collapse, with fresh investments drying up by 2017. GainBitcoin then unilaterally switched payouts to an in-house cryptocurrency called MCAP, which held significantly less value than Bitcoin, further misleading investors. Also read: Wales man fights to recover $ 710 million worth of bitcoin thrown in garbage dump by ex-girlfriend Following this, investors began to register FIRs all across India, alleging large-scale fraud and money laundering. Cases were registered in Jammu & Kashmir, Punjab, Chandigarh, Delhi, West Bengal, Madhya Pradesh, Karnataka, and Maharashtra. Later, the Supreme Court transferred them to the CBI for a unified investigation. (With inputs from agencies)

What is GainBitcoin case? CBI conducts searches at over 60 locations in $757.26mn cryptocurrency scam

Bitcoin mining in the US is not just a digital revolution—it's driving economic growth, creating jobs, and reshaping local communities. This report dives into the numbers and implications of this rapidly evolving sector.

Report: US bitcoin mining industry generates over 31,000 jobs

Everyone is aware of Bitcoin's popularity and how many large long-term investors are adding the OG token to their portfolios. Now, families are investing in cryptos as a college savings strategy to enhance their children's financial prospects despite the associated risks and volatility.

Parents ditch stocks and embrace Bitcoin for college savings

Just before Donald Trump's win in November last year, electric vehicle maker Tesla's stock was headed for its third consecutive year of losses in its fifteen years as a public business.&nbsp;However, following Trump's win, the company's stock surge helped the firm rank among the top performers for 2024 in the S&amp;P 500 index.
Elon Musk's 'Trump trade' extends beyond the turnaround in his companies' stock fortunes to his firm's crypto holdings. The ground reality for Tesla remains the same as before Trump's election victory.
There is still complete paralysis inside the EV maker as demand for its automobiles remains shaky, and the future becomes bleak. So, what set off the change in fortunes?&nbsp;Elon Musk's robust campaign support for Donald Trump and his subsequent unofficial participation in the president-elect's administration has triggered a turnaround.
<h2>Tesla's turnaround</h2>
Investors see that move as a political masterstroke on Musk's part. Shares of Tesla were down over two per cent leading up to the US presidential election.&nbsp;The stock, though, reversed to surge by over 70 per cent after the election results, bringing their 2024 total gains to nearly 70 per cent.
Despite no change to the company's core competencies, the EV maker's market valuation increased by 572 billion dollars in the last two months of 2024, reaching about 1.4 trillion dollars.&nbsp;However, what's caught everyone's attention is Tesla's bitcoin holdings, which boosted its last quarterly profits.
Tesla booked a 600 million dollar boost from Bitcoin after an accounting change. That is according to chief financial officer Vaibhav Taneja during Tesla's earnings call last week.
The accounting technique of mark-to-market resulted in a boost from bitcoin holdings. Trump's crypto embrace spurred bitcoin surge in the December quarter to new record highs repeatedly.
During the previous surge in crypto prices in 2021, tesla disclosed an overall investment of 1.5 billion dollars in bitcoin. Tesla showed digital assets of 1.08 billion dollars on its financial sheet in the latest quarterly report.&nbsp;Following Trump's promise of regulatory backing, the cryptocurrency sector is seeing a resurgence.
After more than doubling in the last year, bitcoin's value peaked on Trump's inauguration day at over 109,000 dollars. Although, the OG token has since fallen in value to below 100,000 dollars.
Despite the boost, the adjusted profits per share for Tesla's December quarter came in at 73 cents, which was lower than the 75 cents expectations on the street.&nbsp;The intention to launch robotaxi operations and the projection of a sales rebound this year gave investors hope. The stock price of the Elon Musk-led business has risen this year again.
Meanwhile, Trump's stance of being anti-electric vehicles is well known. However, investors seem to be placing their bets on Musk's ongoing cosy relationship with the administration to pave the way for Tesla's goal of developing a completely autonomous vehicle.
Wall Street analysts have raised the stock's price estimates significantly. The bets are that regulatory restrictions will be eased significantly, benefitting Tesla's self-driving technology ambitions.
(With the inputs from the agencies)

Business & Economy: Elon Musk's 'Trump trade' extends beyond the turnaround in his companies' stock fortunes to his firm's crypto holdings. 

Just before Donald Trump's win in November last year, electric vehicle maker Tesla's stock was headed for its third consecutive year of losses in its fifteen years as a public business. However, following Trump's win, the company's stock surge helped the firm rank among the top performers for 2024 in the S&P 500 index. Elon Musk's 'Trump trade' extends beyond the turnaround in his companies' stock fortunes to his firm's crypto holdings. The ground reality for Tesla remains the same as before Trump's election victory. There is still complete paralysis inside the EV maker as demand for its automobiles remains shaky, and the future becomes bleak. So, what set off the change in fortunes? Elon Musk's robust campaign support for Donald Trump and his subsequent unofficial participation in the president-elect's administration has triggered a turnaround. Tesla's turnaround Investors see that move as a political masterstroke on Musk's part. Shares of Tesla were down over two per cent leading up to the US presidential election. The stock, though, reversed to surge by over 70 per cent after the election results, bringing their 2024 total gains to nearly 70 per cent. Despite no change to the company's core competencies, the EV maker's market valuation increased by 572 billion dollars in the last two months of 2024, reaching about 1.4 trillion dollars. However, what's caught everyone's attention is Tesla's bitcoin holdings, which boosted its last quarterly profits. Tesla booked a 600 million dollar boost from Bitcoin after an accounting change. That is according to chief financial officer Vaibhav Taneja during Tesla's earnings call last week. The accounting technique of mark-to-market resulted in a boost from bitcoin holdings. Trump's crypto embrace spurred bitcoin surge in the December quarter to new record highs repeatedly. During the previous surge in crypto prices in 2021, tesla disclosed an overall investment of 1.5 billion dollars in bitcoin. Tesla showed digital assets of 1.08 billion dollars on its financial sheet in the latest quarterly report. Following Trump's promise of regulatory backing, the cryptocurrency sector is seeing a resurgence. After more than doubling in the last year, bitcoin's value peaked on Trump's inauguration day at over 109,000 dollars. Although, the OG token has since fallen in value to below 100,000 dollars. Despite the boost, the adjusted profits per share for Tesla's December quarter came in at 73 cents, which was lower than the 75 cents expectations on the street. The intention to launch robotaxi operations and the projection of a sales rebound this year gave investors hope. The stock price of the Elon Musk-led business has risen this year again. Meanwhile, Trump's stance of being anti-electric vehicles is well known. However, investors seem to be placing their bets on Musk's ongoing cosy relationship with the administration to pave the way for Tesla's goal of developing a completely autonomous vehicle. Wall Street analysts have raised the stock's price estimates significantly. The bets are that regulatory restrictions will be eased significantly, benefitting Tesla's self-driving technology ambitions. (With the inputs from the agencies)

Tesla reports mark-to-market benefit from Bitcoin holdings

The entities behind President Trump's crypto meme coin have made about $100 million in trading fees in less than two weeks. This is according to a Reuters report quoting estimates from three blockchain research businesses. This is a huge windfall for them. However, thousands of small traders have lost money.

Small traders lose money as $Trump slumps by two-thirds

Bitcoin tumbled below the $100,000 mark early Sunday as markets reacted to President Donald Trump’s sweeping new tariffs on America’s three largest trading partners.

Bitcoin drops below $100,000 as Trump’s trade war rattles markets

Trump's pro-crypto stance catapulted cryptos to new highs. Bitcoin led the gains, with the historic $100,000 mark breached days before Trump's inauguration. However, the rally was not immune to Trump's trade tactics. The imposition of tariffs on Canada, Mexico, and China has rattled global markets, including crypto tokens. This comes as investors increasingly ditch riskier assets.
Top tokens, including Bitcoin, Ethereum, Dogecoin, Solana, and XRP, crashed over 30 per cent on Monday. Concerns over growth, earnings and broader macroeconomic consequences have pushed investors to the edge.
<h2>Bitcoin rally stalls</h2>
Bitcoin, the OG cryptocurrency, has suffered the steepest decline after hitting an all-time high of $109,114.88 about a couple of weeks ago. The currency's total market capitalisation has tanked over 11 per cent, testing lows of $91,000 in the last 24 years. Still, Bitcoin was the only token posting a single digital fall.
Other tokens, including Ethereum, plunged over 20 per cent. Even Elon Musk-backed Dogecoin couldn't survive the crypto freefall, with the currency falling over 25 per cent and wiping out one-fourth of its respective value.
The total liquidation in the crypto market hit nearly $2 billion as investors lost confidence in Trump's stance to make crypto a mainstream currency.&nbsp;
Investors are also worried about crypto's future. Reactions from other economies, particularly the UK and BRICS nations, could further shape market volatility. Analysts are betting on Bitcoin hitting $89,000 before it recovers.

Business & Economy, Bitcoin, the OG cryptocurrency, has suffered the steepest decline after hitting an all-time high of $109,114.88 about a couple of weeks ago. 

Trump's pro-crypto stance catapulted cryptos to new highs. Bitcoin led the gains, with the historic $100,000 mark breached days before Trump's inauguration. However, the rally was not immune to Trump's trade tactics. The imposition of tariffs on Canada, Mexico, and China has rattled global markets, including crypto tokens. This comes as investors increasingly ditch riskier assets. Top tokens, including Bitcoin, Ethereum, Dogecoin, Solana, and XRP, crashed over 30 per cent on Monday. Concerns over growth, earnings and broader macroeconomic consequences have pushed investors to the edge. Bitcoin rally stalls Bitcoin, the OG cryptocurrency, has suffered the steepest decline after hitting an all-time high of $109,114.88 about a couple of weeks ago. The currency's total market capitalisation has tanked over 11 per cent, testing lows of $91,000 in the last 24 years. Still, Bitcoin was the only token posting a single digital fall. Other tokens, including Ethereum, plunged over 20 per cent. Even Elon Musk-backed Dogecoin couldn't survive the crypto freefall, with the currency falling over 25 per cent and wiping out one-fourth of its respective value. The total liquidation in the crypto market hit nearly $2 billion as investors lost confidence in Trump's stance to make crypto a mainstream currency. Investors are also worried about crypto's future. Reactions from other economies, particularly the UK and BRICS nations, could further shape market volatility. Analysts are betting on Bitcoin hitting $89,000 before it recovers.

Trump tariffs hit crypto rally: digital tokens tank up to 28%

India is reconsidering its position on cryptocurrencies, said a report by Reuters quoting a senior government official.
The review comes amid policy adjustments in nations like the United States, where former President Donald Trump recently announced initiatives to regulate and incorporate digital assets.
India&rsquo;s Economic Affairs Secretary Ajay Seth said that evolving global perspectives on cryptocurrency usage and its role in financial systems have pushed the government to revisit its approach to the digital assets.&nbsp;
Also read: <a href="https://www.wionews.com/business-economy/16-years-of-bitcoin-why-the-battle-for-mining-just-got-harder-8589668">16 years of Bitcoin: Why the battle for mining just got harder</a>
"More than one or two jurisdictions have changed their stance towards cryptocurrency in terms of usage, acceptance, and importance. In that stride, we are having a look at the discussion paper once again," Seth added.
As a result, India&rsquo;s long-awaited discussion paper on cryptocurrency, initially expected in September 2024 may face further delays. The document is supposed to outline regulatory measures for the digital assets.
&nbsp;
Seth also said that given the cross-border nature of cryptocurrencies, India&rsquo;s approach cannot be unilateral. While he did not specifically refer to the US, Trump&rsquo;s recent executive order establishing a working group on cryptocurrency regulations and a national digital asset stockpile has drawn attention.
Despite India's strict regulations and high tax rates on cryptocurrency transactions, digital assets have gained popularity among investors in the country.&nbsp;
Also read: <a href="https://www.wionews.com/business-economy/is-bitcoin-going-to-crash-technical-analyst-predicts-upto-22-downside-in-q1-2025-8590466">Is Bitcoin going to crash? Technical analyst predicts upto 22% downside in Q1, 2025</a>
The Financial Intelligence Unit (FIU) has been actively monitoring offshore exchanges for compliance with local laws. In December 2023, the FIU issued show-cause notices to nine offshore exchanges, citing regulatory violations. Binance, the world&rsquo;s largest cryptocurrency exchange, was fined Rs 188.2 million ($2.25 million) in June 2024, a month after registering with the FIU to resume operations in India.
India&rsquo;s regulatory landscape on cryptocurrency remains divided. In 2023, the Securities and Exchange Board of India (SEBI) suggested a multi-regulator framework to oversee crypto transactions. However, the Reserve Bank of India (RBI) continues to caution against private digital currencies due to macroeconomic risks.&nbsp;

India’s Economic Affairs Secretary Ajay Seth said that evolving global perspectives on cryptocurrency usage and its role in financial systems have pushed the government to revisit its approach to the digital assets. 

India is reconsidering its position on cryptocurrencies, said a report by Reuters quoting a senior government official. The review comes amid policy adjustments in nations like the United States, where former President Donald Trump recently announced initiatives to regulate and incorporate digital assets. India’s Economic Affairs Secretary Ajay Seth said that evolving global perspectives on cryptocurrency usage and its role in financial systems have pushed the government to revisit its approach to the digital assets. Also read: 16 years of Bitcoin: Why the battle for mining just got harder "More than one or two jurisdictions have changed their stance towards cryptocurrency in terms of usage, acceptance, and importance. In that stride, we are having a look at the discussion paper once again," Seth added. As a result, India’s long-awaited discussion paper on cryptocurrency, initially expected in September 2024 may face further delays. The document is supposed to outline regulatory measures for the digital assets. Seth also said that given the cross-border nature of cryptocurrencies, India’s approach cannot be unilateral. While he did not specifically refer to the US, Trump’s recent executive order establishing a working group on cryptocurrency regulations and a national digital asset stockpile has drawn attention. Despite India's strict regulations and high tax rates on cryptocurrency transactions, digital assets have gained popularity among investors in the country. Also read: Is Bitcoin going to crash? Technical analyst predicts upto 22% downside in Q1, 2025 The Financial Intelligence Unit (FIU) has been actively monitoring offshore exchanges for compliance with local laws. In December 2023, the FIU issued show-cause notices to nine offshore exchanges, citing regulatory violations. Binance, the world’s largest cryptocurrency exchange, was fined Rs 188.2 million ($2.25 million) in June 2024, a month after registering with the FIU to resume operations in India. India’s regulatory landscape on cryptocurrency remains divided. In 2023, the Securities and Exchange Board of India (SEBI) suggested a multi-regulator framework to oversee crypto transactions. However, the Reserve Bank of India (RBI) continues to caution against private digital currencies due to macroeconomic risks.

India to reconsider crypto policy following global regulatory shifts: Report

Bitcoin turned negative after President Donald Trump’s executive actions establishing a working group on digital assets fell short of expectations. Watch this report for more details!

Bitcoin turns lower after Trump's orders

Crypto industry heavyweights were expecting the new republican US Administration to take the digital asset sector seriously.&nbsp;
So, their outrage at Donald Trump and Melania&rsquo;s new memecoins was understandable.
On Friday, the president introduced the "Trump" token, and Melania Trump began her "Melania" campaign on Sunday.
The value of the trump memecoin peaked at 15 billion dollars and then dropped to below 8 billion dollars for a short while when Melania's token received some attention.
Controversy surrounds the memecoin sector, which is home to dogecoin and other joke tokens with little intrinsic value and high volatility.
This fuels the allegation that the emerging business is too risky and too trivial for serious investors.
Memecoins are based on fleeting social media trends that come and go just as fast. Trump team claims $Trump coin is a "meme, not security."
Trump's $ Trump had sparked a crypto frenzy ahead of his inauguration, but the project claims it's just a "meme."
Announced on Friday by the man himself, the memecoin is designed to celebrate "winning" the election. Bitcoin hit a new all-time high on Monday, hours before Trump's inauguration. However, the rally was short-lived.
As Trump's speech concluded without mention of crypto or a strategic bitcoin reserve, the PG token pulled back sharply to 100,500 dollars, a 6 per cent intraday decline, and currently sits above 102,000 dollars.
<h2>The broader market mirrored Bitcoin's volatility.</h2>
Tokens like $Trump and $Melania, which had been riding the wave of political fervour, nosedived by over 20 per cent.
Some executives believe the memecoin volatility will hurt rather than help the industry's efforts to regain its reputation. Trump's memecoin also fuelled suspicion about his financial dealings.
Government watchdogs wasted no time in describing Trump's memecoin as his latest unethical move and an attempt to cash in on his place on the world stage.
Other groups that voiced their concerns include the non-profit campaign Legal Centre and the Washington-based Citizens for Responsible Ethics, which unsuccessfully sued Trump in his first term for violating constitutional prohibitions on foreign gifts and compensation.
Danielle Brian, head of the nonpartisan project on government oversight, said memecoins are typically unrelated to any real-world enterprise, making them risky for investors but offering enormous rewards to their creators.
Brian said, "Any effort the trump organisation was making to demonstrate they were concerned about potential conflicts, specifically where it comes to foreign governments &mdash; this seems to entirely undermine."
(With inputs from the agencies)

Business & Economy: The president introduced the "Trump" token, and Melania Trump began her "Melania" campaign on Sunday. Trump team claims $Trump coin is a "meme, not security."

Crypto industry heavyweights were expecting the new republican US Administration to take the digital asset sector seriously. So, their outrage at Donald Trump and Melania’s new memecoins was understandable. On Friday, the president introduced the "Trump" token, and Melania Trump began her "Melania" campaign on Sunday. The value of the trump memecoin peaked at 15 billion dollars and then dropped to below 8 billion dollars for a short while when Melania's token received some attention. Controversy surrounds the memecoin sector, which is home to dogecoin and other joke tokens with little intrinsic value and high volatility. This fuels the allegation that the emerging business is too risky and too trivial for serious investors. Memecoins are based on fleeting social media trends that come and go just as fast. Trump team claims $Trump coin is a "meme, not security." Trump's $ Trump had sparked a crypto frenzy ahead of his inauguration, but the project claims it's just a "meme." Announced on Friday by the man himself, the memecoin is designed to celebrate "winning" the election. Bitcoin hit a new all-time high on Monday, hours before Trump's inauguration. However, the rally was short-lived. As Trump's speech concluded without mention of crypto or a strategic bitcoin reserve, the PG token pulled back sharply to 100,500 dollars, a 6 per cent intraday decline, and currently sits above 102,000 dollars. The broader market mirrored Bitcoin's volatility. Tokens like $Trump and $Melania, which had been riding the wave of political fervour, nosedived by over 20 per cent. Some executives believe the memecoin volatility will hurt rather than help the industry's efforts to regain its reputation. Trump's memecoin also fuelled suspicion about his financial dealings. Government watchdogs wasted no time in describing Trump's memecoin as his latest unethical move and an attempt to cash in on his place on the world stage. Other groups that voiced their concerns include the non-profit campaign Legal Centre and the Washington-based Citizens for Responsible Ethics, which unsuccessfully sued Trump in his first term for violating constitutional prohibitions on foreign gifts and compensation. Danielle Brian, head of the nonpartisan project on government oversight, said memecoins are typically unrelated to any real-world enterprise, making them risky for investors but offering enormous rewards to their creators. Brian said, "Any effort the trump organisation was making to demonstrate they were concerned about potential conflicts, specifically where it comes to foreign governments — this seems to entirely undermine." (With inputs from the agencies)

Trump memecoins spark backlash amid crypto chaos

Bitcoin hit a record high of $109,000 on Monday as Donald Trump, who has signalled plans to deregulate the cryptocurrency sector, prepares to be sworn in as US president.
Bitcoin surged to reach an all-time peak of $109,241 ahead of Trump's inauguration ceremony.
(More to follow)

World: Bitcoin surges past $, setting a new all-time high as investors eagerly await potential market influences from the latest developments involving Donald Trump.

Bitcoin hit a record high of $109,000 on Monday as Donald Trump, who has signalled plans to deregulate the cryptocurrency sector, prepares to be sworn in as US president. Bitcoin surged to reach an all-time peak of $109,241 ahead of Trump's inauguration ceremony. (More to follow)

Bitcoin hits record high of $109,000 ahead of Trump's inauguration ceremony

On Saturday, Donald Trump’s official social media accounts announced details of a new digital asset, called the $TRUMP meme coin. Initially dismissed as a possible hack due to the lack of accompanying statements, the posts quickly gained traction as linked websites traced back to Trump’s known businesses.

Donald Trump's $TRUMP Meme Coin Takes Crypto World By Storm

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