In today’s crypto news, there’s some breaking news regarding Microsoft. According to its recent SEC filing, the tech giant has proposed a Bitcoin investment assessment, but there’s a catch—shareholders must vote on it. As a Microsoft shareholder myself, I plan on voting in favor because I believe it’s a smart move for Microsoft to invest in Bitcoin. However, the board of directors is urging shareholders to vote against the proposal, arguing that they are already considering a broad range of investable assets.
Meanwhile, there seems to be some internal conflict at Ripple between the CEO and the founder. The two are reportedly divided on political issues, which isn’t great for the company’s cohesion. The CEO has publicly criticized the Biden administration, claiming that its regulations have hurt the crypto industry, while the founder has taken a different stance, financially supporting Vice President Harris’s PAC. Personally, I side with the CEO—Biden’s policies have indeed been damaging to crypto, and if Harris takes over, we might see more of the same, including the potential for a tax on unrealized gains, which would be disastrous for the crypto market.
In other news, XRP has once again retested the $0.51 price point after hitting $0.56. This fluctuation is largely driven by developments in the ongoing Ripple vs. SEC case, which continues to influence the market. The issue doesn’t stem from the SEC itself but from Ripple’s co-founder, Chris Larsen, who hasn’t yet filed for his appearance in the case. Hopefully, this will be resolved soon. If Ripple wins, I expect XRP to break above the $1 mark. For now, I’m holding onto my XRP, which I bought at the $0.50 mark, and I’m in it for the long haul.
On another note, the SEC recently requested an extension in the case until January 2025. This delay could actually work in favor of the crypto community, especially if a new, more crypto-friendly administration takes office by then.
Before I wrap up, I want to remind all my readers to do your own research. The crypto space has its share of bad actors. A recent example is the Sharpei rug pull, a Solana meme coin that plummeted 96%. Always be cautious. Bitcoin, Dogecoin, and Shiba Inu currently have the longest HODL periods, which is why I continue to hold onto them. Remember, it’s all about having those diamond hands when necessary. But again, make sure you do your own research—I never give financial advice; I just share the news and what I personally invest in or trade.
Thanks for reading,
Crypto King
