In the recent Presidential election in Poland, pro-crypto Karol Nawrocki, has emerged victorious with a 51% vote share. Ahead of this tightly contested election, Nawrocki had vowed to support the crypto industry and stated that it would curb any regulations that prevent the “freedom of investing”. Poland’s crypto industry has high hopes from Nawrocki to improve the country’s crypto landscape. Having supported Donald Trump in the past, will Nawrocki make a Bitcoin Treasury announcement soon? Will Poland President Make A Bitcoin Treasury Announcement? Similar to the United States, crypto is slowly taking center stage for elections across the globe. During his presidential campaign last week, Karol Nawrocki pledged to defend the crypto industry while avoiding excessive regulations. In his message last week, the Polish President said: “Poland needs to be a place where innovation is created, not regulation. As the Polish president, I will guarantee that no murderous regulations will… Read More at Coingape.com
The post Breaking: Poland Elects Pro Crypto President, Is Bitcoin Treasury Announcement Coming? appeared first on CoinGape.
]]>The enduring inflation crisis in Argentina has been a prominent issue in the South American nation, marked by the Argentine peso experiencing an annual inflation rate exceeding 140% in the past 12 months. Many crypto proponents have also been advocating that Argentina should adopt Bitcoin as an inflationary hedge. As a result, some of the top Bitcoin proponents are also celebrating Milei’s victory.
#Bitcoin is hope for Argentina. Congratulations @JMilei.
— Michael Saylor
(@saylor) November 20, 2023
Milei has openly criticized the country’s central bank, denouncing it as a scam and a “mechanism through which politicians deceive the public with inflationary taxes.” He also views Bitcoin as a movement toward “restoring money to its original creator, the private sector”. In one of his previous interviews, Milei said:
“With legal tender, they scam you with the inflationary tax… Bitcoin is the natural reaction against central bank scammers; to make money private again”.
Yet, he has not shown any inclination to designate Bitcoin as a legal tender in the nation. However, if he considers it, Argentina would be the second Latin American country to make Bitcoin a legal tender, after El Salvador.
Interestingly, Bitcoin maximalist Max Keiser said that he expects three Latin American countries to make Bitcoin a legal tender by early 2024.
Massa’s perspectives on the monetary system, banking, and the cryptocurrency industry seem to stand in stark contrast to Milei’s. Back in October, he committed to introducing a central bank digital currency (CBDC) in the event of being elected, aiming to “address” Argentina’s enduring inflation challenges.
Bitcoin Price Action Ahead
As we approach closer to the next Bitcoin halving analysts are turning extremely bullish about Bitcoin. Ali Martinez notes that we are at the beginning of a 700-day Bitcoin bull run ahead of us till October 2025.
#Bitcoin history might repeat itself!
If we mirror #BTC‘s past bull runs (2015-2018 & 2018-2022) from their respective market bottoms, projections suggest the next market peak could land around October 2025.
That means $BTC still has 700 days of bullish momentum ahead! pic.twitter.com/MOUS1CYOn0
— Ali (@ali_charts) November 19, 2023
The renowned social media trader Titan of Crypto recently reaffirmed a pre-halving BTC price forecast of up to $50,000 on November 19. Bitcoin is encountering strong resistance in its attempt to surpass the $40,000 threshold; repeated efforts to breach this level have proven unsuccessful over the past week.
Titan of Crypto has also identified $39,000 as a critical boundary, but this time as the lower limit for where BTC/USD should ideally stabilize before the upcoming block subsidy halving event in April 2024.
“The pre-halving rally I told you about one year ago is about to reach its target zone between $39k-$50k,” he said.
Conservative Yoon Suk-yeol, who supported deregulation of the cryptocurrency sector and issued non fungibe tokens (NFTs) during his election campaign, has been elected as South Korea’s next president.
What Happened: South Korean ruling party candidate Lee Jae-myung admitted defeat on Thursday morning, according to a BBC report.
Yoon, who represents the opposition, won the presidency by a margin of just one percent in a heated contest, as per the report.
During the campaign, Yoon had advocated for the deregulation of the virtual asset industry, according to Korea’s Yonhap News Agency.
“To realize the unlimited potential of the virtual asset market, we must overhaul regulations that are far from reality and unreasonable,” Yoon has been quoted as saying.
Both Yoon and Lee issued NFTs during their election campaign, according to a report from The Block.
See Also: How To Buy Bitcoin (BTC)
Why it Matters: Yoon during his campaign pledged to reduce the tax burden on profits from cryptocurrency investments, such as those in Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE), according to Yonhap.
The president-elect reportedly called for measures that would allow the virtual asset industry to produce unicorns.
Prices of Bitcoin on South Korean exchanges and those around the world usually have a gap, which is referred to as “kimchi premium.”
The Korean cryptocurrency market is mostly comprised of retail investors due to prevalent regulations against institutional investors and stable coins, according to CryptoQuant, a community-driven analytics platform.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
]]>