BofA’s Hartnett says concentrated U.S. stock returns are likely to persist
U.Today - Richard Teng, the new chief executive of Binance, who took over from Changpeng Zhao, has published a Bitcoin tweet with a slightly poetic touch to it. He also underscored Bitcoin’s qualities that make it a unique and sustainable asset on the market.
It happened after a major development related to Bitcoin took place at the highest level and was announced on X.
Teng likens Bitcoin to treasure
Richard Teng tweeted that Bitcoin is “like digital gold, a treasure to behold,” adding that this is not financial advice.Reacting to an agreeable comment from a follower on X, Teng stated that Bitcoin is also “scarce, and a hedge against inflation.”
It seems that the Binance boss made that statement in light of the news of U.S. President Donald Trump signing an executive order to create a Strategic Bitcoin Reserve for the country. The price of the world’s flagship cryptocurrency has reacted to that so far with a 4% rise, as it surged from the $85,550 zone to $89,000, where Bitcoin is changing hands at press time.
Before the recovery began, Bitcoin had lost almost 8% overall since Thursday, falling from $92,780.
Bitcoin to $120,000 in March: Max Keiser
Many Bitcoin influencers, including Binance’s cofounder and former CEO, have commented on this big step. CZ tweeted bullishly, “One more holder, the US.”The creation of the Strategic Bitcoin Reserve (SBR) means that within the next four years, the U.S. government will buy 1,000,000 Bitcoins, or 250,000 every year of Trump’s presidency.
Following the news of the issuance of the executive order, Bitcoin maxi and BTC advisor to El Salvador’s president Nayib Bukele made a stunning prediction – he expects Bitcoin to spike above $100,000 within the next few hours and then reach $120,000 later this month.
Bitcoin symbol explained by Grok AI
The official account of the Binance exchange on X issued a very short Bitcoin tweet, which consists of just one character – a capital letter B with four vertical strokes, meaning BTC - ₿.One of the commentators asked the integrated Grok AI bot to explain what it means, experiment-wise. Grok confirmed that the ₿ symbol indeed stands for Bitcoin, and it was introduced “in Unicode 10.0.0 on June 20, 2017, alongside symbols like $ and €, signifying Bitcoin’s status as a recognized currency.”