Meanwhile, the US markets have closed again. We look at the live Bitcoin price and the prices of the top 25 crypto. We also look at President Biden’s order on crypto regulation which was positively received. Then we analyze criticism from Bill Gates and a theory from Elon Musk about BTC founder Satoshi Nakamoto.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price and prices top 25 continue to rise in rally
At the time of writing, the live Bitcoin price is quoting EUR 38,189.09 ($41,950.01). This is 8.70% higher than when the US markets closed last night.
The prices of the top 25 crypto continue to rise rapidly as well. Apart from a few stable coins, we again see only green prices on the digital price boards. The biggest gain is for Near (NEAR), which is quoting + 17.48% in 24 hours. On the site of Tradeincrypto.com you can analyze all live crypto prices.
Gov. Biden publishes designation on Bitcoin and crypto regulation
We saw this afternoon that we could expect the separate directive for crypto regulation today or tomorrow due to leaked notes. In the meantime, it has come to pass. Today the White House announced that Joe Biden is signing an executive order today directing various regulatory authorities in the U.S. government to conduct studies and make proposals to give Bitcoin and crypto an official place in U.S. financial policy. The thrust is to protect consumers and prevent illegality, but within these frameworks to support the development of Bitcoin and crypto technology. You can read the official memorandum here.
Meaning of the Biden directive and first reactions from the market
The memo is just out, but of course analysis is already underway. A first comment comes from the White House economic advisor, Brian Deese. You can see his analysis below.
Initial reactions from the market are positive. Analyst and influencer Jeremy Allaire even calls it a “watershed moment. He provides a comprehensive analysis.
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White House Exec Order and U.S. Government Strategy for Digital Assets – a thread with thoughts; TLDR = this is a watershed moment for crypto, digital assets, and Web 3, akin to the 1996/1997 whole of government wakeup to the commercial Internet. (1/7)
– Jeremy Allaire (@jerallaire) March 9, 2022
Among the analysis, we see many relieved influencers who are happy that America apparently has the ambition to play a leading role in the development of Bitcoin and Crypto and become a world leader in it. We also see this reflected in the stock prices.
Investors embrace crypto-regulation, Bitcoin bull-rally?
That America’s move to prepare constructive legislation is appreciated is of course reflected in the rising Bitcoin price. In the process, many analysts expect a longer positive effect. For example, Nasdaq published an extensive analysis in which it is assumed that this is a strong bull moment for Bitcoin. Also Matt Hougan, Chief Investment Officer of Bitwise, expects a strong bullish efffect as you can see in this interview.
Also criticizing crypto law and Bitcoin, Bill Gates speaks out
Along with all the praise, there was also criticism to be noted. For example, ideological investors feel that it is precisely against the nature of Bitcoin (and vision of Satoshi Nakamoto) to be regulated. They fear that policymakers are too old to understand the subject matter and capture it in proper regulation. They also warn that people may be trying to use fine words precisely to minimize the role of Bitcoin and other crypto.
Bill Gates also criticizes the opportunities to invest in Bitcoin and other crypto. In particular, he points out the dangers of criminality and volatility. He also continues to warn about lack of regulation. He sees the current situation as a nice first step, but until there is an actual desire, he continues to stand by the content of his critical interview from last year.
Elon Musk fuels rumors about Satoshi Nakamoto again
As long as the identity of Satoshi Nakamoto is not conclusively established, speculation about the identity of the Bitcoin developer remains a welcome distraction for influencers. One of the participants in this recurring game is Elon Musk. After pointing late last year to Nick Szabo (who, by the way, denied himself) as the man behind Satoshi Nakamoto, he now floated the name.
Indeed, many people look for clues in the name. Elon Musk shared a Tweet without text, where he seems to come up with an explanation for the name. This one boils down to the fact that there was a tech specialist who scribbled with the names of major tech brands.
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pic.twitter.com/e3kFCmREaC
– Elon Musk (@elonmusk) March 9, 2022
Needless to say, the Tweet attracted some attention and the crypto community is once again speculating lustily. Could Elon Musk himself be hiding behind the well-known pseudonym? All options are open, always fun to read and food for conspiracy theorists. We will of course focus on the regular market again and keep you informed tomorrow with our crypto lunch.
Want to stay up to date with the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”
