DIB 9 APR 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 838,444
DTG/ICOD: 0800EST 09Apr24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: US Stepping Up Pacific Strategy / Idaho Teen Arrested for Planning Attack for ISIS / US Treasury Citing National Security for Increasing Power Against Crypto / Swiss Central Bank Says No to CBDC / Japanese Firm Follows MSTR BTC Strategy / China Excited for BTC ETFs / US Privacy Law May Centralize Legal Power

Market Data: Price: 1 BTC= $70,811, 30.12 oz Gold, .16 Median US House
24hr Hi: $72,715/ Lo: $69,654
Vol: $35B (Up 10%)
Mkt Cap: $1.39T (Down 2%)
HashRate: 582 EH/s
Avg Fees: 8,224 sats/tx (Up 98%)
Nodes: 17,194

—Reports—
-International Events-
1. U.S., Japanese and Australian Warships Join Philippine Forces in South China Sea Patrol: Six warships and four aircraft from Australia, Japan, the Philippines, and the United States conducted a joint patrol in the South China Sea on Sunday following Chinese harassment of Philippine Navy resupply missions in the region. China Coast Guard and Chinese maritime militia have blasted water cannons, conducted blocking maneuvers, deployed long-range acoustic devices, and rammed vessels in a series of increasingly aggressive moves against Philippine vessels. (USNINews)

2. U.S., Japan to announce military cooperation, joint NASA lunar mission: The leaders of the United States and Japan this week will commit to modernizing their military alliance, with the aim of eventually creating a truly operational hub for the most consequential defense partnership in the Pacific.

-US Events-
1. Idaho teen arrested for allegedly plotting to attack church in name of ISIS: An 18-year-old from Idaho was arrested Saturday and accused of plotting to kill churchgoers in his town in the name of ISIS, according to court documents unsealed Monday. Alexander Mercurio was charged in a criminal complaint with providing material support to a foreign terrorist organization. He remains in custody and has not entered a plea, according to court records. (CBS)

-Regulatory and Legal-
1. US Treasury Seeks Stronger Crypto Controls for National Security: Deputy Secretary Adewale O. Adeyemo has called upon lawmakers to authorize the implementation of a secondary sanctions tool tailored specifically to target foreign entities involved in illicit financial transactions facilitated through digital assets. (CoinGape)

2. International court rules Switzerland government violated human rights in landmark climate case brought by 2,000 women: The European Court of Human Rights (ECHR) in Strasbourg, France delivered its ruling in a case brought by more than 2,000 Swiss women, the majority of whom are in their 70s, against Switzerland’s government. They argued that climate change-fueled heat waves undermined their health and quality of life, and put them at risk of dying. (CNN)

-Institutional Concerns-
1. 10 US Bitcoin ETFs Amass Over 519,000 BTC, With Blackrock Leading at 50.81%: The latest data reveals that Blackrock’s spot bitcoin exchange-traded fund (ETF) has increased its bitcoin portfolio, now encompassing 263,937.48 bitcoins valued at $17.88 billion. Adding in the Grayscale ETC, the holdings of these 11 U.S. exchange-traded funds represent 4.29% of the total supply. (BitcoinCom)

2. Metaplanet Shares Soar as Japanese Firm Mimics MicroStrategy on Bitcoin Buying: Metaplanet, a Web3 infrastructure provider, saw its Tokyo-listed stock rise almost 90% in two days after saying it was adding $6.56 million in bitcoin to its balance sheet. The company, which started as a budget hotel operator under the name Red Planet before becoming a Web3 software developer, said it is looking to minimize its exposure to the Japanese yen.(CoinDesk)

3. Bitcoin ETF Frenzy Reaches China As Top Funds Apply For Approval In Hong Kong: China’s financial giants Harvest Fund and Southern Fund have recently filed applications to launch a new spot Bitcoin ETF, according to local media outlet Securities Times. (Bitcoinist)

-Central Bank Digital Currencies (CBDC)-
1. Swiss central bank sees no need for public CBDC as risks outweigh benefits: Switzerland is unlikely to introduce a public central bank digital currency (CBDC) in the near future, as risks associated with the technology still outweigh potential benefits, Reuters reports, citing Thomas Jordan, the head of the Swiss National Bank (SNB). (Reuters)

-Economic Indicators-
1. US Small Business Optimism Lowest since 2012: The NFIB Small Business Optimism Index in the US fell for a third consecutive month to 88.5 in March 2024, the lowest since December 2012 and well below forecasts of 90.2.(TradingEconomics)

2. Stablecoins Are Seeing Adoption as a Cross-Border Settlement Mechanism: The stablecoin market is growing and these cryptocurrencies are being adopted for cross-border settlements with payments firms, fintech companies and consumer platforms among the early users. There have been signs of stablecoin adoption by payments firms such as Paypal (PYPL) and Visa (V) and consumer fintech platforms such as Grab (GRAB) in Singapore and Mercado Libre (MELI) in Latin America. (CoinDesk)

-Security Incidents and Concerns-
1. New landmark federal privacy legislation years in the making would set the stage for a new era of privacy litigation in courts across the country. If enacted, the American Privacy Rights Act, unveiled April 7, would be the first comprehensive federal privacy law and usher in new privacy rights, including the ability to directly sue companies for alleged violations. The bill, which would also preempt comprehensive privacy laws enacted by states, could shake up enforcement dynamics, which under a patchwork of state laws have largely fallen to state attorneys general. The bill would largely leave the FTC’s privacy enforcement powers intact while introducing greater oversight. (BloombergLaw)

-Bitcoin Community-
NSTR

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 80/100 (Up 4 pts)

Analyst Comments (AC): It’s encouraging to see another firm following the bitcoin accumulation strategy of Microstrategy. The market reacted to the news by increasing the share price of the company over 90% in 2 days. Japan, in particular, could do well to adopt bitcoin-friendly strategies after decades of economic woes.

Follow us on NOSTR: @Bitcoin Veterans
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Analyst: BV2A
END REPORT
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*NSTR-Nothing Significant To Report