Congressman Warren Davidson Introduces Bitcoin For America Act, Proposes Federal Tax Free Payments in Bitcoin

JPMorgan has indicated that Michael Saylor's strategy could lead to significant outflows, estimated between $2.8 billion and $8.8 billion, if MSCI excludes MicroStrategy (MSTR) from its major equity indices. This potential exclusion is set to be decided on January 15, raising concerns about the viability of Saylor's bitcoin-leveraged strategy.

Billionaire investor Ray Dalio has reiterated his skepticism towards Bitcoin, maintaining that he has only allocated about 1% of his portfolio to the cryptocurrency for several years. He cites structural challenges as a barrier to Bitcoin's viability in the long term.

Bitcoin's price has dropped to $86,610, marking a decline of over 1% in the past 24 hours. This significant downturn occurs amidst a backdrop of extreme fear in the market, reflecting ongoing volatility and uncertainty in the cryptocurrency sector.

The Abu Dhabi Investment Council significantly increased its investment in Bitcoin during the third quarter, tripling its stake in BlackRock’s iShares Bitcoin Trust to nearly 8 million shares. This move reflects the council's view of Bitcoin as a long-term digital asset akin to gold.

VanEck analysts report that the recent selloff of Bitcoin is primarily driven by mid-cycle traders, while long-term investors, referred to as whales, continue to hold their positions. This trend indicates a divergence in market behavior, with short-term holders reacting to price fluctuations while long-term holders remain steadfast in their investment strategy.

Bitcoin's price has dropped to $88,890, nearing a seven-month low, reflecting a 4% decline on the day. The cryptocurrency market continues to experience significant downturns, with Bitcoin trading close to the bottom of its weekly range. This slump follows a broader trend of declining values across crypto stocks.

Brink has funded the first external security audit of Bitcoin Core, conducted by Quarkslab. The audit revealed no critical or severe security issues, indicating a positive assessment of Bitcoin Core's security framework.

Kraken has confidentially filed for an initial public offering (IPO) in the U.S. through Payward, Inc. following a successful $800 million fundraising round that has valued the cryptocurrency exchange at $20 billion.