BTC Daily Intelligence Bulletin (DIB)
Block: 830,287
DTG/ICOD: 0800EST 13Feb24
Precedence: Routine (RR)
Controls: Public Release
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BLUF: Senate Pass Foreign Arms Funding Bill, on to House / Church Shooter Formerly Man / BTC ETFs Hold $10B in AUM / BTC Adoption Growing in LATAM
Market Data: Price: 1 BTC= $49,854 USD, 24.59 oz Gold, .12 Median US House
24hr Hi: $50,358 / Lo: $47,897
Vol: $39B (Up 94%)
Mkt Cap: $979B (Up 4%)
HashRate: 538 EH/s
Avg Fees: 13,435 sats/tx (Down 7%)
Nodes: 18,420
---Reports---
-International Events-
1. Venezuela Issues Threatening Demand for Guyana to Stop ExxonMobil from Drilling in Its Waters: Venezuela’s socialist regime once again threatened neighboring Guyana on Sunday if American oil company ExxonMobil executed its plan to drill oil in the waters near the Essequibo contested territory. (Breitbart) (AC-Venezuela has recently (re)claimed the Essequibo area as it's own, though this is 2/3 of the land mass of Guyana. This situation has the hallmarks of a major territorial dispute and indications of military conflict.)
2. Australia to ban doxxing after pro-Palestinian activists publish personal info of hundreds of Jewish people:Attorney-General Mark Dreyfus, who is Jewish, said the proposed laws would involve issuing take-down notices to social media platforms and imposing fines. Pro-Palestinian activists distributed a nearly 900-page transcript leaked from a private WhatsApp group created last year by Jewish writers, artists, musicians and academics, Nine Entertainment reported. (Fox)
-US Events-
1. Senate passes $95 billion Ukraine, Israel aid package amid GOP divide: The bill passed 70 to 29, after 22 Republicans joined Democrats in approving the aid. But House Speaker Mike Johnson (R-La.) preemptively rejected the legislation on Monday night saying in a statement that the package’s failure to address U.S. border security makes it a nonstarter in the House. (WaPo)
2. Female Church Shooter Formerly Identified as ‘Jeffery’: The 'female' shooter who attacked Joel Osteen’s Lakewood Church has been identified as 36-year-old Genesse Moreno, who KHOU 11 noted “previously identified as Jeffery Escalante.” Someone — presumably Moreno — had also written “Free Palestine” on the gun she used in the attack, according to ABC News. (Breitbart) (AC-MSM is not reporting the details of this shooting even as police release the information. According to FBI statistics only 4 of 147 'mass shootings' in 2023 were committed by women, without regard to transgender identities. According to arrest data, Jeffery was born in El Salvador and not entered into any immigration database.)
-Regulatory and Legal-
1. US law enforcement accounted for nearly 30% of data requests in 2023, Kraken says: Kraken revealed in a blog post on Monday it had received a total of 4,923 data requests in 2023, with the U.S. issuing the highest number at 1,393, consistent with figures from 2022. Among U.S. agencies, the Federal Bureau of Investigation (FBI) emerged as the most active, accounting for over 33% of all requests. Coinbase, another major cryptocurrency exchange, reported receiving a total of 13,079 requests from law enforcement agencies between October 2022 and September 2023, marking a 6% increase from the previous year. However, Coinbase emphasized that its reported figures do not necessarily correspond to the number of requests fulfilled. (CryptoNews)
-Institutional Concerns-
1. Bitcoin ETFs Have Hit the $10 Billion Milestone: These numbers came after the first 20 trading sessions and one month after their approval. BlackRock’s iShares Bitcoin Trust leads the way with $4 billion, followed closely by Fidelity’s Wise Origin Bitcoin Fund at $3.4 billion. ARK 21Shares Bitcoin ETF recently crossed the $1 billion threshold. (CoinMarketCap)
2. Peter Thiel Made $200M Investment in BTC, ETH Before Bull Run: Reuters: Founders Fund started to purchase bitcoin when it was below $30,000 and acquired more BTC and ETH in the subsequent months. Founders Fund had previously sold most of its crypto holdings for $1.8 billion in March 2022, just before crypto winter began, the Financial Times reported last year. Founders Fund made a previous investment in bitcoin to the tune of $15 to $20 million during the 2017-2018 bull market. (CoinDesk)
-Central Bank Digital Currencies (CBDC)-
NSTR
-Economic Indicators-
1. US CPI data is due today.
-Technological Updates-'
1. Businesses Embrace Cloud-Based Generative AI for Strategic Advantages: Cloud-based genAI revolutionizes customer interactions, offering personalized communication at scale. Recommendation systems powered by genAI drive sales and enhance user engagement through targeted recommendations. Ethical considerations are paramount in the strategic implementation of genAI, requiring transparency and accountability. (Cryptopolitan)
-Security Incidents and Concerns-
NSTR
-Bitcoin Community-
1. Less than 10,000 blocks to the next Bitcoin halving: Why Grayscale says this one’s different: According to the firm, the recent introduction of Bitcoin Exchange-Traded Funds (ETFs) presents a stable demand outlet that could counteract the downward pressure from mining issuance.“While [BTC] has long been heralded as digital gold, recent developments suggest that [it] is evolving into something even more significant,” Grayscale concluded. (CryptoSlate)
2. Growing Adoption: Bitcoin Accounts For 53% Of Latin American Wallets: The recently published ‘Crypto Landscape in Latin America: Report 2H 2023’ by Bitso analyzed the trends in the crypto market of some of the Latin American countries with the highest crypto adoption, including Colombia, Argentina, Brazil, and Mexico. Notably, the youth took the lead in Latin America, with approximately 63% of users being younger than 34 years old. (Bitcoinist)
3. These Bitcoin Mining Stocks Hit Their Stride Ahead of 2024 Halving: Marathon Digital mined a record 1,853 BTC in December 2023, boosting its year-end Bitcoin holdings to 15,174. Riot's 2024 saw a volatile start, rebounding to $16 from a low below $10, despite rising operational costs impacting profitability. CleanSpark's aggressive expansion adds new mining facilities, doubling capacity amid increasing US scrutiny on Bitcoin mining. (BeInCrypto)
-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 79/100 (Up 9 pts)
Analyst Comments (AC): As the market cap of Bitcoin approaches the 1 Trillion dollar mark, the institutional interest in BTC is driving demand and familiarity with BTC much higher. Populations in need of a savings vehicle and peer-to-peer exchange are adopting at a higher rate than is more stable countries. Bitcoin seems to be fullfilling the needs of different populations but the big money, via institutions, are starting to pile in which will drive the deflationary nature of BTC. It will be very interesting to see how those using BTC as P2P will benefit comparatively to those who do not.
Follow us on NOSTR: @Bitcoin Veterans
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Analyst: BV2A
END REPORT
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*NSTR-Nothing Significant To Report
