DIB 17 JUN 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 848,334

DTG/ICOD: 0800EST 17Jun24

Precedence: Routine (RR)

Controls: Public Release

QQQQ

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BLUF: Ukraine Peace Conference Held Without Russia / China Expanding Nuke Arsenal / Netanyahu Disbands War Cabinet / WildFires North of L.A., Heat in Central US / Paul Ryan Pens Support for Stablecoins / Biden Admin to Attend Blockchain Roundtable / El Salvador Brings Bitcoin to Banks / Ripple Continues CBDC Push / Microsoft Pauses “Recall” Rollout /

Market Data: Price: 1 BTC= $65,760, 28.36 oz Gold, .15 Median US House

24hr Hi: $66,894 / Lo: $65,548

Vol: $19B (Up 53%)

Mkt Cap: $1.3T (Down 1%)

HashRate: 661 EH/s

Avg Fee Rate: 12 sats/vBtye (Down 60%)

Nodes: 18,520

—Reports—

-International Events-

1. Kremlin derides outcome of Ukraine talks held without Russia: The Kremlin was commenting on a weekend summit where Western powers and their allies denounced Russia’s invasion of Ukraine but failed to persuade major non-aligned states to join their final statement.

Kremlin spokesman Dmitry Peskov said the results of the meeting, to which Russia was not invited, were “close to zero”. (Reuters)

2. China pursuing ‘significant’ expansion of nuclear arsenal, report says: Beijing is both growing and modernizing its nuclear arsenal, according to an annual report released Sunday by the Stockholm International Peace Research Institute (SIPRI). China’s military stockpile grew from 410 nuclear warheads last year to 500 as of January, the report found. China is believed to have placed some warheads on a “high operational alert” for the first time, SIPRI found. (WaPo)

3. Netanyahu disbands his inner war cabinet: Israeli Prime Minister Benjamin Netanyahu has dissolved the six-member war cabinet, an Israeli official said on Monday, in a widely expected move that came after the departure from government of the centrist former general Benny Gantz. (Reuters)

-US Events-

1. Wildfire north of Los Angeles spreads as authorities evacuate 1,200 people: The blaze, named the Post Fire, burned more than 3,600 acres (5.6 square miles or 14.5 square kilometers) near the Interstate 5 freeway in Gorman, about 62 miles (100 kilometers) northwest of Los Angeles. (Breitbart)

2. Stifling heat wave settles in for the long haul: A heat dome is building in intensity across the Ohio Valley and lower Great Lakes. It is forecast to shift east-northeastward this week, and potentially peak at record intensity at this time of year for New England. (Axios)

-Regulatory and Legal-

1. Crypto Could Stave Off a U.S. Debt Crisis: The U.S. is headed toward a predictable yet avoidable debt crisis. If nothing is done, the economy will stall while government promises of healthcare and retirement security will be broken. Cuts to national defense will put the country at risk. We might start by taking stablecoins seriously. Promoting dollar-backed stablecoins would follow a well-trodden path and offer clear near-term benefits. There would be an immediate, durable increase in demand for U.S. debt, which would reduce the risk of a failed debt auction and an attendant crisis. (Fmr Speaker Paul Ryan in WSJ)

2. 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. (BitcoinCom) (AC-El Salvador leading the charge in making Bitcoin more accessible to all)

3. Biden Administration, Mark Cuban, and Ro Khanna Set for Critical Crypto Roundtable: Members of the Biden administration are reportedly convening for a bitcoin and blockchain roundtable with American entrepreneur and “Shark Tank” star Mark Cuban. This news comes after presidential candidate Donald Trump vowed to “end Joe Biden’s War on Crypto.” (BitcoinCom)

-Institutional Concerns-

1. MicroStrategy Increases Convertible Note Offering by 40% to $700M in Bitcoin Splurge: Nasdaq-listed software firm MicroStrategy (MSTR), the largest corporate holder of bitcoin (BTC), increased its convertible note offering by 40% to $700 million and priced it to offer a 2.25% annual yield. (CoinDesk0

-Central Bank Digital Currencies (CBDC)-

1. Ripple CEO announces collaborations with 10 governments on CBDCs: Ripple’s influence in the global financial sector is growing. Recently, it was revealed that 80% of banks in Japan have partnered with Ripple for blockchain payment solutions. Moreover, Ripple’s engagement in CBDC pilot programs extends beyond Georgia to include countries such as Colombia, Bhutan, Palau, and Montenegro, demonstrating its role in the worldwide digital transformation of central banking systems.Additionally, Ripple is preparing to introduce its stablecoin, Real USD (RLUSD), which was unveiled at the recent XRP Ledger (XRP) Apex Summit in Amsterdam. (Finbold)

-Economic Indicators-

1. Dollar Hovers Near 6-Week Highs: The dollar index held above 105.5 on Monday, hovering near its highest levels since early May as the Federal Reserve’s updated projections released last week pointed to only one interest rate cut this year, which could come as late as December. (TradingEconomics)

-Security Incidents and Concerns-

1. Microsoft Delays Release of Windows Recall Feature Due to Security Concerns: Microsoft has hit the brakes on the release of Windows Recall, a controversial feature that would record all your activities on your PC, taking screenshots of your active screen every few seconds. Well, it looks like Microsoft has finally awakened to just how big of a security risk Recall was set to be, as the company has announced that Recall will no longer be a part of the upcoming Copilot+ PCs. (TechReport)

-Technology-

NSTR

-Bitcoin Community-

1. These Central Banks Buy Bitcoin, Others Will Soon Follow, Claims Expert: In a space on X that included influential voices from the industry—Bitcoin Magazine CEO David Bailey, alongside analysts Dylan LeClair and Matthew Pines—claims were made that are stirring intense discussions within financial and crypto circles. Bailey, who is serving as one of Trump’s closed Bitcoin advisors, boldly asserted that multiple central banks globally are actively acquiring Bitcoin. After being queried by Fred Krueger about which countries besides El Salvador, David Bailey asserted: “Iran, Bhutan, Venezuela, nobody super impressive. The large government buyers are the sovereign wealth funds.” (Bitcoinist)

-Bitcoin Sentiment-

1. Fear(0)/Greed(100) Index: 71/100 (Down 3 pts)

Analyst Comments (AC): NSTR

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Analyst: BV2A

END REPORT

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*NSTR-Nothing Significant To Report