Time for your weekly crypto news!

Hitting $100k was this mythical level for the OG Bitcoiners. For newer traders it's still a milestone, but for people around when it was sub $100, this is a real mind bender. Noelle Acheson sums it up;

“There’s more than a smidgen of pride: everyone working in crypto in some way helped it get there. Bitcoin has no executive leader and no marketing team other than all of us."

Now we’ve hit it. The next leg up starts, some are writing it as $0.1m $BTC… you get the point. There are people out there with charts saying we are just getting going. As always, do your own research.

Trump has chosen both the SEC chair he wants and the Crypto Czar, both are known to be crypto friendly, but the appointments are not confirmed yet. South Korea’s political storm caused a flash crash on their largest exchange and quite a few nations are putting forward crypto friendly tax policies.

MicroStrategy continued its relentless buying, and Amazon and Microsoft's shareholders are agitating to put $BTC on the balance sheet. Crypto ETFs did very well this week. Finally, yesterday, all the leverage in the system was flushed in quite an aggressive correction. 📉 🎢

To the details👇

🔘 Crypto ETFs had a bumper week of inflows, $3.8bn across the world.

🔘 Jerome Powell said that Bitcoin is like Digital Gold, in fact he said $BTC was a competitor for Gold…at least one central banker is starting to get it.

🔘 Tuesday was the crypto space's largest correction valued by liquidations since 2021. Apparently it was $1.7bn. Essentially all the leverage in the hot space got vaporised. Level heads are calling that a good thing.

🔘 The Czech republic has voted to remove capital gains tax on Bitcoin owned over 3 years. Dobrý den. Apparently there are 22 countries where this is the case. NZ are you watching?

🔘 Amazon shareholders are asking the company to investigate putting $BTC on the balance sheet. So is Microsoft.

🔘 Meanwhile, while others talk MicroStrategy bought another 21.5k BTC.

🔘 ASIC in Australia is consulting on digital assets. Normal coins won’t be considered financial products but things like wrapped coins and stablecoins are in the gun.

🔘 A huge shout out to our local Web3 and blockchain talent. The annual event run by Web3NZ and BlockchainNZ nominated individuals and companies across the entire ecosystem. Well done to all the winners - shameless self promotion, Easy Crypto and some of its wonderful leaders picked up 3 awards.

Other highlights:

🔘 The US government moved ~$2bn of SilkRoad Bitcoin to Coinbase.
🔘 One possible reason for the big blip in $XRP volume was a rumour that BlackRock would drop $9Tn into XRP. I’d emphasise the rumour part of that.
🔘 $XRP also removed the 10 $XRP account reserve limit (that pesky reason you always have 10 $XRP in your wallet.)
🔘 The Celsius founder and CEO pleaded guilty to Fraud.
🔘 And finally, Austrac, an Australian regulator is going after Crypto ATM’s.

Until next week✌️