Analysis: Satoshi-era whales selling BTC sparks widespread debate over Bitcoin's ideological direction
PANews July 27 news, according to CoinDesk, Galaxy Digital disclosed this weekend that it had facilitated a $9 billion Bitcoin transaction for a Satoshi-era investor, totaling more than 80,000 coins. The company said the transaction was one of the largest nominal BTC transactions to date. Cryptocurrency analyst Scott Melker believes that the confidence of many early whale investors has been shaken and they choose to sell at the current market price. This comment has sparked heated debate among cryptocurrency industry influencers and traders. Some people pointed out that selling Bitcoin does not necessarily mean that investors have given up long-term holding of the asset. For example, Adam Back is still increasing his holdings of BTC. However, as Bitcoin is increasingly absorbed by traditional financial markets through ETFs, corporate funds and custody solutions, the crypto community is worried that Bitcoin has deviated from its cypherpunk roots.
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Crypto execs met with US lawmakers to discuss Bitcoin reserve, market structure bills
Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week. Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more
