🔸️Ethereum | Bitcoin & Altcoin News

💰 Argentine leader Javier Milei promotes Bitcoin in currency reform plan Argentina President Javier Milei has reiterated his support for Bitcoin as a tool to revitalize the national economy. In a June 19 statement on X, Milei announced that Argentina would allow the competition of various currencies, including digital assets like Bitcoin. Meanwhile, Milei’s stance aligns with his advocacy history for the crypto industry. During his campaign, he criticized central banks, calling them a “scam,” and promoted using cryptocurrencies to return financial power to the private sector. Source ETH | BTC & ALTCOIN News

💰 XRP Open Interest Spike in Response to Ripple-SEC Developments XRP’s rising OI suggests investors are opening more positions, expecting a surge in price, but volatility remains a concern. In line with the price action, XRP saw a surge in open interest (OI) as traders continued to closely monitor the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC). This surge in OI suggests that investors are increasingly opening positions anticipating a rise in XRP’s price, according to CryptoQuant’s latest analysis. Source ETH | BTC & ALTCOIN News

🪙 Hedge funds betting on SEC greenlighting spot Ethereum ETFs – VanEck VanEck head of digital assets research Matthew Sigel believes financial institutions are gearing up for the imminent launch of spot Ethereum (ETH) exchange-traded funds (ETFs) in the US despite the funds pending regulatory approval. He added that data from K33 Research indicates a significant rise in inflows to Ether exchange-traded products (ETPs) outside the US markets, which suggests that large investors are preparing for the regulatory green light for the spot Ethereum ETFs. Source ETH | BTC & ALTCOIN News

🪙 Bitwise discloses $2.5 million seed investment in latest amended filing for its spot Ethereum ETF Bitwise updated its registration form for its spot Ethereum exchange-traded fund as the asset management firm, among others, waits for the go-ahead from the U.S. Securities and Exchange Commission to list and trade those products. Bitwise included some new details in its updated S-1 form for the Bitwise Ethereum ETF, including language about a $2.5 million seed investment. Source ETH | BTC & ALTCOIN News

💰 MicroStrategy Is Pioneering Bitcoin Capital Markets, Bernstein Says MicroStrategy (MSTR) is not just a software firm diversifying its corporate treasury into cryptocurrency, it is pioneering bitcoin (BTC) capital markets, broker Bernstein said in a research report on Tuesday. The broker notes that to date MicroStrategy has raised $4 billion of convertible debt for the solpurpose of buying more bitcoin. A convertible bond is a type of debt security that can be converted into shares. Michael Saylor’s firm currently holds 214,400 bitcoin worth about $14.5 billion. Source ETH | BTC & ALTCOIN News

💰 Financial Advisors Wary of Investing in Spot Bitcoin ETFs, BlackRock Exec Says Cohen cites Bitcoin’s volatility and the nascent stage of spot ETFs as key reasons for financial advisors’ skepticism. BlackRock’s chief investment officer for index investments, Samara Cohen, recently implied that amidst the recent success of spot Bitcoin exchange-traded funds, financial investors still exercise some degree of caution when investing. The volatility and infancy of Bitcoin and related exchange-traded funds are the primary drivers behind this investment class’s slow adoption. Source ETH | BTC & ALTCOIN News

🥇 Bitcoin transaction fees will surpass block subsidy predicts Marathon CEO Fred Thiel Fred Thiel, CEO of Marathon Digital Holdings, shared his insights on several critical aspects of the Bitcoin landscape, focusing on transaction fees, hash rate resilience, and global expansion initiatives. Thiel highlighted the conditions of Bitcoin transaction fees, noting that large payloads requiring prioritization drive higher fees. He emphasized that transaction volume in the mempool is the primary driver, with various value-added services built on top of base transaction fees. Source ETH | BTC & ALTCOIN News

💰 Salvadoran Government Introduces Bitcoin Banking Law Reform The Salvadoran government has presented an initiative to accelerate the inclusion of Bitcoin and other cryptocurrencies in its investment banking sector. The banking law reform introduced to the National Assembly would allow private investors to constitute banks that can provide services in Bitcoin and stablecoins for sophisticated investors Source ETH | BTC & ALTCOIN News

💰 Michael Saylor’s 21 Rules for Bitcoin calls Bitcoin ‘Chaos’ and an ‘economic virus’ MicroStrategy CEO Michael Saylor articulated a vision of Bitcoin as the world’s first perfect money, a profound innovation with the potential to reshape economic and political systems globally. Drawing parallels to historic scientific revolutions, Saylor positioned Bitcoin as a disruptive economic force, ushering in a new era of financial insight. Source ETH | BTC & ALTCOIN News

💰 Bernstein analysts raise bitcoin price target to $200,000 by end of 2025 Analysts at research and brokerage firm Bernstein have raised their price target for bitcoin to $200,000 from $150,000 by the end of 2025. The target is driven by expectations of unpreceded demand via spot bitcoin exchange-traded funds run by some of the world’s leading asset managers, such as BlackRock, Fidelity and Franklin Templeton, reaching around $190 billion in assets under management compared to $60 billion today, Gautam Chhugani and Mahika Sapra wrote in a note to clients. Source ETH | BTC & ALTCOIN News