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“Anarchy is order; government is civil war.” – Bellegarrigue

The advent of decentralized money gave rise to an intriguing cognitive bias among early adopters. Bitcoin’s success is convincing many that we can do away with trusted institutions altogether—that trust itself can be engineered away. This hubris is reflected in how we deploy our collective resources and capital.

In the absence of appropriate social structures, we have become risk averse and generally mistrusting of each other. As a result, Bitcoin commerce has become marginalized and many revolutionaries have retreated into…

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The daily net flow of U.S. Bitcoin ETFs as of September 16, 2024, reveals significant movements across various funds. BlackRock’s IBIT ETF leads in holdings with 357,277 BTC but reported no net inflow for the day. On the other hand, Fidelity’s FBTC ETF experienced the highest net inflow, adding 1,705 BTC to its reserves, now totaling 174,838 BTC.

Grayscale’s GBTC ETF saw a decline, losing 121 BTC, leaving it with 222,086 BTC. ARK Invest’s ARKB ETF gained 1,658 BTC, now holding 45,008 BTC. Other noteworthy increases included Bitwise’s BITB ETF with a 719 BTC addition and Valkyrie’s BRRR ETF, which grew by 28 BTC.

Overall, the combined total of Bitcoin held by these ETFs reached 903,101 BTC, with a net inflow of 4,249 BTC valued at approximately $244.54 million. This data highlights the active management and varying investor interest levels in Bitcoin-related investment products across different firms.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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South Asian country Bhutan, a Buddhist kingdom on the Himalayas’ eastern edge, has been revealed as a major Bitcoin holder, owning 13,011 BTC worth around $780.49 million, according to a report by Arkham Intelligence. The public data company identified Bhutan’s Bitcoin addresses, marking the first time this information has been publicly shared.

BREAKING: BHUTAN GOVERNMENT’S $750M BTC NOW ON ARKHAMBhutan’s Bitcoin holdings are now labeled on Arkham. These holdings come from Bitcoin mining operations carried out by the Kingdom of Bhutan’s investment arm, Druk Holdings.Arkham is the first to publicly identify these… pic.twitter.com/a8ScUNJJ9F

— Arkham (@ArkhamIntel) September… Read more on BitcoinMagazine

The debt based monetary system has become quite extreme. On one hand, the US crossed the $35 trillion national debt milestone, placing a $104k burden on every US citizen. On the other hand, the Congressional Budget Office (CBO) puts federal expenditures for 2024 at 24.2% of GDP.

This divergence between profligate spending and debt ballooning puts the economy on a narrow path. It is exceedingly unlikely that USG would opt to reduce spending, most of which goes to social programs, entitlements and the military. The latter alone is the key ingredient that backs USD as world currency.

Conversely, this entails another Fed balance sheet expansion, with three 0.25% rate cuts this year already…

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Bybit, a leading global cryptocurrency exchange, has secured a provisional license from Dubai’s Virtual Asset Regulatory Authority (VARA), marking a significant step towards full licensing as a Virtual Asset Service Provider (VASP) in the region. Since establishing its headquarters in Dubai two years ago, Bybit’s progressive integration into the local market underscores Dubai’s appeal as a burgeoning hub for digital currencies.

Helen Liu, COO of Bybit, praised Dubai’s strategic position and innovation-centric policies for providing vast opportunities for the crypto industry. This development follows Bybit’s acquisition of a preliminary Minimum Viable Product (MVP) license last year, further solidifying its commitment to complying with local regulations and enhancing its service offerings in the Middle East.

Dubai continues to attract major cryptocurrency enterprises with its clear regulatory frameworks, aimed at positioning the city as a global leader in blockchain technology. The recent strengthening of Bybit’s partnership with the Dubai Multi Commodities Centre (DMCC) to an advisory role further demonstrates the city’s dynamic and supportive environment for advancing blockchain and cryptocurrency innovations.

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In the wake of Mi Primer Bitcoin’s three-year anniversary, the El Salvador-based organization announced that it has promoted two of its staff members — Reyna Chicas and Quentin Ehrenmann — to leadership positions.

Chicas, a native Salvadoran who has been with the organization for approximately two years, has quickly ascended through its ranks from teacher to Lead Teacher to a member of the Board of Directors to now the Director of Education. She has shined since the beginning of her time with Mi Primer Bitcoin (MPB), when the organization sent her to Bitcoin Lake in Guatemala for six months to teach in the community. During this past year, she’s been a point person for Mi Primer…

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