CRYPTO

Authored by Martin Young via CoinTelegraph.com,

Finance officials in the European Union are concerned US President Donald Trump’s embrace of digital assets could affect Europe’s monetary sovereignty and financial stability.

“The US administration is favorable toward cryptocurrencies and especially dollar-denominated stablecoins, which may raise certain concerns in Europe,” European Stability Mechanism (ESM) managing director Pierre Gramegna said at a Eurogroup press conference on March 10. 

Gramegna cautioned that the US crypto pivot “could eventually reignite foreign and US tech giants’ plans to launch mass payment solutions based on dollar-denominated stablecoin,” adding, “And if this were to be successful, it could affect the euro area’s monetary sovereignty and financial stability.”  

The ESM “supports the ECB’s urgency in making the digital euro a reality to safeguard Europe’s strategic autonomy — this digital euro is today more necessary than ever,” he added.

The ESM is an intergovernmental organization established by member states of the euro area, helping countries overcome financial crises and maintain long-term financial stability and prosperity.

Pierre Gramegna speaking on US crypto threat. Source: YouTube

“Policy developments in other jurisdictions can have important consequences for us here in Europe,” concurred Irish finance minister Paschal Donohoe. 

“These discussions are (more…)

Authored by Zachary Stieber via The Epoch Times,

A U.S. regulator said on March 7 that banks can engage in some activities related to (more…)

Authored by Helen Partz via CoinTelegraph.com,

Michael Saylor’s Strategy, the world’s largest public corporate Bitcoin holder, is looking to raise up to $21 billion in fresh capital to purchase more BTC.

On March 10, Strategy officially announced that it entered into a new sales agreement that would allow the firm to issue and sell shares of its 8% Series A perpetual strike preferred stock to raise funds for general corporate purposes, including potential Bitcoin (BTC) acquisitions.

As part of the agreement deal, dubbed the “ATM Program,” Strategy expects to make sales “in a disciplined manner over an extended period,” taking into account the trading price and volumes of the perpetual strike preferred stock at the time of sale.

The announcement comes amid Strategy holding 499,096 BTC ($41.2 billion), which it acquired for an aggregate amount of $33.1 billion at an average price of $66,423 per BTC.

The company previously disclosed plans to issue and sell shares of its class A common stock to raise up to $21 billion in equity and $21 billion in fixed-income securities over the next three years in order to accumulate more Bitcoin under its “21/21 plan.”

Despite suffering its largest weekly decline on record, Strategy remained ahead on its BTC purchases. 

In total, Strategy has spent $33.1 billion on Bitcoin purchases, while its holdings are now valued at $41.2 billion – a 24% unrealized gain even amid the correction.

Strategy founder Michael Saylor has proposed that the United States government acquire up to 25% of Bitcoin’s total supply over the next decade for its Strategic Bitcoin Reserve.

Saylor reiterates to the US government, “Never sell your Bitcoin”

Saylor presented the document to US President Donald Trump, government executives, and global crypto leaders at the White House Crypto Summit on March 7.

He explained that the government should stick to a “Never sell your Bitcoin” policy, predicting that by 2045, the Strategic Bitcoin Reserve could generate over $10 trillion annually and serve as a “perpetual source of prosperity” for Americans.

Up until 2045, Saylor said the Reserve could generate between $16 trillion and $81 trillion for the US Treasury, potentially easing the national debt.

Source: Michael Saylor

Earlier that day, Trump signed an executive order establishing a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile,” initially funded with cryptocurrency seized in criminal cases.

While it didn’t include an immediate plan to (more…)