BTC Daily Intelligence Bulletin (DIB)
Block: 831,534
DTG/ICOD: 0800EST 22Feb24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: Yemeni Houthis Launch More Missiles at Ships, Israel / Russia Gains Offensive in Ukraine / Biden Forgives Some Debts / NVDIA Pumps US Stocks / Nigerians Use VPNs to Access Crypto
Market Data: Price: 1 BTC= $51,512, 25.39 oz Gold, .12 Median US House
24hr Hi: $51,980 / Lo: $50,671
Vol: $27B (Down 21%)
Mkt Cap: $1.01T (Flat)
HashRate: 543 EH/s
Avg Fees: 5,965 sats/tx (Down 18%)
Nodes: 17,978
---Reports---
-International Events-
1. Israel’s Arrow intercepts apparent Houthi ballistic missile headed for Eilat: Israel’s long-range Arrow air defense system shot down a ballistic missile over the Red Sea early Thursday morning. Meanwhile, US conducts four 'self-defense strikes' against Houthi weapons preparing to launch(TimesOfIsrael/Fox)
2. Julian Assange's US extradition hearing wraps up in London, decision not expected until at least next month (Fox)
3. Ex-CIA director says Russia has broken the stalemate in Ukraine and is 'on the offensive' along the 600-mile war front: The Russians are no longer on the back foot in Ukraine, says former CIA chief Robert Gates. "A lot of people are referring to the war at this point as a stalemate," Gates told The Washington Post in an interview on Wednesday. "I'm afraid I believe that, at this point, it's actually not so much a stalemate, but that the Russians have regained momentum." "It's not breakthrough kind of momentum, but it is the sense that they are now the ones pressing the offensive," he continued. (BusinessInsider)
-US Events-
1. Oregon Fentanyl Overdoses Increase by 1,530%, Largest Spike in the Nation: A new FOX12 report using data obtained from the U.S. Centers for Disease Control (CDC) exposed the shocking statistics, revealing that 1,268 deaths occurred as a result of the fatal drug between September 2019 and September 2023. (Fox)
2. Biden Transferring Student Debt from 153,000 Borrowers, Notifies Them in Emails: Politico reported that on Wednesday, the Biden administration was set to blast out emails to some 153,000 loan borrowers, who will see $1.2 billion transferred out of their collective debts under his Saving on a Valuable Education (SAVE) plan.(Breitbart)
-Regulatory and Legal-
1. Bitcoin ETF Approval Comparable to 'Naked Emperor’s New Clothes,’ ECB Officials Say: The U.S. SEC’s approval of multiple spot ETFs and the billions of dollars that have poured in since don't make Bitcoin a good investment or a better means of payment, the central bankers said in a blog post. (CoinDesk)
-Institutional Concerns-
1. Most Bitcoin ETFs Keep All Their Eggs In One Basket. Is That Risky? Cryptocurrency custody is divided into two camps — custody from a technology perspective and qualified custodians, according to Kyle DaCruz, Director of Digital Assets Products at VanEck. VanEck launched its spot bitcoin ETF, the VanEck Bitcoin Trust (HODL) on Jan. 11. VanEck recorded more than $86.9 million in inflows since launch and has $187.6 million in assets under management as of Feb. 14, according to BitMEX Research. (IBD)
-Central Bank Digital Currencies (CBDC)-
NSTR
-Economic Indicators-
1. US Futures Rally after Nvidia Results Beat: Stocks futures in the US rallied on Thursday, with contracts on the S&P 500 futures soaring 1.1% to hover at record levels, while the Nasdaq 100 jumped 2.2% and the Dow Jones futures added about 160 points after Nvidia's results topped forecasts. (TradingEconomics)
-Technological Updates-'
NSTR
-Security Incidents and Concerns-
1. A cache of leaked Chinese hacking documents just confirmed experts' warnings about how compromised the US could be: Over 570 files and documents were posted to the developer platform GitHub last week, per The Washington Post. The documents, which track hacking activity across multiple countries, belong to iSoon, a private security contractor with ties to China's Ministry of Public Security, according to the Post's report on Wednesday. (BusinessInsider)
2. Nigerians turn to VPN as government blocks access to Binance, Coinbase, others: The Nigerian government barred access to crypto platforms because of their alleged roles in the country's fiat currency struggles. (CryptoSlate)
-Bitcoin Community-
NSTR
-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 74/100 (Down 4 pts)
Analyst Comments (AC): The Investors Business Daily (IBD) article referenced above is an indicator of mainstream financial media beginning to address the need for Bitcoin education. Though this article focuses on how the ETFs 'custody' the Bitcoin, it teaches readers how Bitcoin is different than other assets, giving investors a primer on the value inherent in it. As more economic value begins to chase the limited supply of Bitcoin, this kind of education will be necessary for responsible investing and eventually a transition to a Bitcoin Standard.
Follow us on NOSTR:
@Bitcoin Veterans
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Analyst: BV2A
END REPORT
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*NSTR-Nothing Significant To Report