Today’s Bitcoin and Macro News Summary
Date: April 11, 2024
Block height: 838,809
Fiat Price: $70,172
-El Salvador is issuing its first tokenized debt on Bitcoin sidechain Liquid to fund a new Hilton hotel. The $6.25M HILSV token aims to boost tourism and adoption. 🇸🇻
-Wall Street is waking up to spot #Bitcoin ETFs. SEC filings show major institutions like Park Avenue Securities and Inscription Capital scooping up shares in Q1. The herd may be coming. 🐂
-Hong Kong is set to approve 4 spot Bitcoin ETFs by April 15, positioning itself as a leader in TradFi BTC adoption. 🇭🇰 Looks like we are going to have near 24-7 ETF inflows.
-In Clown World, Biden's student loan debt relief will cost taxpayers an extra $84 billion. Money printer go brrr! 🤡💸
-Grayscale Bitcoin Trust (GBTC) sees record low outflows of just $17.5M, a 90% decrease from the previous day. Is the selling pressure finally subsiding? 🤔
-Ordinals inscriptions are ramping up ahead of the halving, driving Bitcoin transaction fees to 10-month highs. 🤮
-Ghostface Killah of Wu-Tang Clan fame is airdropping 10k music-infused #Bitcoin Ordinals. Protect ya neck and grab that whitelist spot! 🐝 Sorry. My affinity for Wu-Tang and distaste for ordinals are confusing me.
-The Botanix team is building an EVM-compatible layer-2 on Bitcoin, aiming to combine BTC's sound money properties with Ethereum's tech capabilities? 🤯
https://www.coindesk.com/consensus-magazine/2024/04/11/willem-schroe-building-botanix-a-bitcoin-layer-2-that-brings-the-evm-to-bitcoin/
-Grayscale research suggests persistent inflation will drive continued demand for Bitcoin as a store of value, even if rising rates cause short-term volatility. 📊
-Paraguay pauses proposed Bitcoin mining ban bill, considers selling excess hydroelectric power to miners instead. Another nation waking up to the benefits of Bitcoin mining! ⚡
-And finally, the "Bitcoin Sign Guy" who photobombed Janet Yellen in 2017 is auctioning his famous "Buy Bitcoin" sign. You can own a piece of Bitcoin history! 📜
Bitfinex Securities Introduces El Salvador’s First Tokenized Debt to Fund New Hilton Hotel
The token will be issued on the Liquid Network, a bitcoin sidechain.
Bitcoin Magazine
Wall Street Is Buying US Spot Bitcoin ETFs: 13F SEC Fillings
Major Wall Street institutions like Park Avenue Securities and Inscription Capital bought into spot bitcoin ETFs in Q1 according to just-released S...
TFTC – Truth for the Commoner
Hong Kong Set to Approve Four Spot Bitcoin ETFs on April 15
Hong Kong's approval of four spot Bitcoin ETFs marks a pivotal move in embracing Bitcoin.
TFTC – Truth for the Commoner
Biden's Student Loan Debt Relief Proposal Estimated to Cost $84 Billion
A Penn Wharton Budget Model reveals the cost of Biden's new student loan cancellation plan.
Cointelegraph
Bitcoin bounces back as Grayscale ETF outflows hit new record low
The Grayscale Bitcoin Trust marked its lowest level of outflows on April 10, amounting to $17.5 million.
CryptoPotato
Ordinals Activity Ramps Up Before Halving — Alongside Bitcoin Fees
Bitcoin transaction fees are on the rise again, and are expected to go higher once “Runes” goes live next week.
Cointelegraph Magazine
Ghostface Killah Ordinals drop today, Women & Weapons… violent? NFT Collector
Wu-Tang Clan's Ghostface Killah drops 10,000 musical Bitcoin Ordinals, Women and Weapons isn't violent, it's about strength: NFT Col...
Cointelegraph
‘Unsustainable’ deficit, inflation mean more demand for Bitcoin: Grayscale
Grayscale believes the most recent inflation setback will be short-term pain and long-term gain for Bitcoin.
Cointelegraph
Paraguay to reconsider Bitcoin mining ban, mulls selling energy to miners
Paraguay is rethinking its temporary ban on Bitcoin mining and is now reconsidering the economic advantages the industry can offer.