US Congressmen say bitcoin has "no social value" and is only suitable for tax evasion
1.US Congressmen say bitcoin has "no social value" and is only suitable for tax evasion.
In an interview, Brad Sherman, a US congressman, denied the potential of bitcoin to become a future currency. He said that bitcoin has the advantage over the US dollar that it can help crimes such as tax evasion. He also said that bitcoin could not help improve the economy. He said: "suppose it becomes a currency. In this case, just because it can surpass the dollar in some quite large markets, especially the tax evasion market, that is why it has no social value." However, Sherman admitted that it is almost impossible to ban such assets at present, but pointed out that through regulation, the government can regain "some control".
2.Musk: if the Federal Reserve raises interest rates again, it will trigger deflation.
Tesla CEO Elon Musk said on social media that if the Federal Reserve raises interest rates significantly again, it will trigger deflation. Musk issued a rare warning to the Federal Reserve or because market observers expected the Federal Reserve to sharply raise interest rates at the FOMC meeting in September, but so far musk has not provided more details. Musk's tweet triggered many reactions, including Peter Schiff, chief economist and global strategist of Euro Pacific Bank. He pointed out that the Federal Reserve's sharp interest rate hike may lead to "hyperinflation" and "severe recession" and may "trigger a more serious financial crisis than in 2008". At the same time, he also believed that bitcoin should not be purchased to prevent inflation.
3.The US Treasury Department will publish a series of reports this month to clearly point out the risks of cryptocurrency.
According to the insider, the US Treasury Department will elaborate on the risks it believes cryptocurrency will pose to consumers and the financial system in a series of reports published this month. The US Treasury Department's report will focus on the analysis of the cryptocurrency market, but will not provide too many specific policy recommendations. Each report will focus on one of four themes, including payment system, consumer protection, illegal financing and financial stability.
4.The total market value of crypto rebounded to above $1.1 trillion.
At present, the total market value of crypto has risen again to above $1.1 trillion, with an increase of 0.4% in the past 24 hours, of which the market value of bitcoin has temporarily risen to $413136490006 and the market value of Ethereum has risen to $211909249292.
5.Anthony pompliano: he has not changed his view on BTC, and still believes in its future potential.
In response to recent criticism on social media, Anthony pompliano, a supporter of bitcoin (BTC), said that BTC let him know that price prediction is a fool's game. Pompliano has recently been hit back by some members of the cryptocurrency community because he removed bitcoin from his twitter profile in the current price dilemma of bitcoin. However, pompliano denied that he had changed his view of BTC. He said: "the truth is, I haven't changed my mind on anything. Not only do I still have deep faith in bitcoin and its future potential, but I have also been buying more bitcoin in the past few months, both personally and professionally." The investor pointed out that BTC will "humiliate anyone".
6.BTC hash rate reached a 14 month high.
Glassnode data shows that the BTC hash rate has just reached a 14 month high of 73349894617870935552, and the previous 14 month high was 721113410502304989184.