Will Meta Start Buying Bitcoin Soon???
CryptosRUs
Market Overview
The market is looking positive, with Bitcoin rallying and many other cryptocurrencies following suit. The current price of Bitcoin is around $97,000.
Driving Factors
Several big news stories and rumors are driving the market, including:
- Meta (Facebook) potentially buying Bitcoin, with Mark Zuckerberg meeting with President Trump
- Inflation readings, with the PPI (Producer Price Index) showing a 0.2% increase in December, lower than expected
- Upcoming CPI (Consumer Price Index) reading, which could have a significant impact on the market
Economic Data
The PPI inflation reading is seen as positive, as it shows that inflation is under control. The CPI reading tomorrow is expected to be closely watched, and if it comes in lower than expected, it could lead to a rally in the markets.
Company News
- Meta has $72 billion in liquid assets and may consider investing in Bitcoin
- Microsoft and other tech giants have significant cash reserves, but may be hesitant to invest in Bitcoin
- Ripple's XRP is performing well, with 15 of the 25 largest banks piloting their tokenized asset project
Country Adoption
Several countries are embracing Bitcoin, including:
- Brazil
- Switzerland
- Germany
- Japan
- Venezuela
- Hong Kong
- Poland
- South Africa
- Thailand
Crypto News
- XRP is expected to break out and reach new highs
- Sony has launched its own blockchain, Sonium
- Hedera's TVL (Total Value Locked) is relatively low, but the company is working with the new administration and may benefit from a new digital ID system
Investment Advice
- Dips are seen as buying opportunities
- A portfolio makeup of 50% Bitcoin, 25% big caps, and 25% small caps is recommended
- XRP and BDC are considered good investments, but it's essential to do your own research and not put all your eggs in one basket.