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Lisa Parker

An editor at FOMOdrive

  • Jul 24, 2023
  • 2 min read

Bitcoin will drop to almost zero - Spencer Schiff

Bitcoin BTC gold coin falling apart

The US presidential candidate declared that XRP will surpass bitcoin in terms of market capitalization.

The co-founder of MicroStrategy, Michael Saylor, has expressed his belief that Bitcoin could be a source of hope for Argentina.

The US Department of Justice is broadening its probes into the realm of cryptocurrencies.

The Borrow borrowing program is being terminated by Coinbase.

A bill has been proposed in the United States to oversee the crypto market.

Michael Saylor, co-founder of MicroStrategy, has suggested that the only way for the Argentine economy to recover is through the use of cryptocurrencies, particularly bitcoin. Argentina is currently the leader in the adoption of cryptocurrencies in Latin America, due to the high inflation rate in the country.

The SEC requested that the judge disregard a portion of the recent ruling in the legal action against Ripple, as it is not in accordance with current securities regulations and is open to challenge.

The U.S. Department of Justice has declared that it will be expanding the National Cryptocurrency Crime Enforcement Team (NCET) by doubling its membership in response to the growing number of cases involving the unlawful use of digital assets.

A bill has been released by Republicans in the U.S. House of Representatives that requires the SEC and the CFTC to create suitable regulations for the digital asset industry.

John Reed Stark, a former official from the Securities and Exchange Commission (SEC), declared that Non-Fungible Tokens (NFTs) have no worth, the market is rife with manipulation, and smart contracts are not able to guarantee the security of users.

Coinbase has shut down its Borrow program, which enabled customers of the largest U.S. exchange to take out loans of up to one million dollars backed by cryptocurrency assets.

Patrick Riley, a US Republican presidential candidate, proposed that when XRP cryptocurrency reaches a value of $11, it will overtake Bitcoin and take the top spot in the cryptocurrency rankings.

Spencer Schiff, the son of prominent cryptocurrency critic Peter Schiff, who was formerly a supporter of Bitcoin, has now become disillusioned with the first cryptocurrency. He believes that projects based on artificial intelligence will be the most attractive on the market, and that Bitcoin will soon drop to near zero.

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