Bitcoin Expected to Surge Post-Halving, Paraguay Considers Crypto Mining, Uniswap Gets SEC Notice
Summary:
Venture capitalist Tim Draper predicts a significant rise in Bitcoin's value post-halving, potentially up to $250,000 by year-end. Meanwhile, Paraguayan lawmakers are discussing selling surplus hydroelectric power to cryptocurrency miners rather than exporting it. In other news, Uniswap, a decentralized exchange platform, has been issued a Wells notice by the SEC.
Venture capitalist and Bitcoin enthusiast Tim Draper spoke with Cointelegraph, forecasting a significant increase in Bitcoin's value after the approaching halving event. Concurrently, Paraguay's legislators are considering selling surplus electricity from a hydroelectric plant to cryptocurrency miners. In other news, the U.S. Securities and Exchange Commission (SEC) has sent a Wells notice to the decentralized exchange, Uniswap.
Famed investor Tim Draper theorizes that the looming Bitcoin halving and the emergence of Bitcoin exchange-traded funds (ETFs) will lead to a hefty rise in Bitcoin's price. Speaking during the Paris Blockchain Week, Draper predicted a possible Bitcoin valuation of $250,000 by the year's end, pointing to the substantial inflows to spot ETFs and the halving event. The introduction of spot Bitcoin ETFs in the U.S. has ignited a new wave of interest from investors who might otherwise shy away from holding Bitcoin directly. These ETFs also offer protection against currency depreciation.
In Paraguay, plans to abolish Bitcoin mining have been put on hold. Senators are now entertaining the idea of selling to miners the excessive energy produced by the Itaipu Hydroelectric Dam, which currently exports to Brazil and Argentina. A public discussion concerning the pros and cons of Bitcoin mining is anticipated for April 23, according to Senator Lilian Samaniego. This comes in the wake of a proposed temporary ban on Bitcoin mining due to allegations of illegal power siphoning by cryptocurrency mines.
On a different note, the SEC has issued a Wells notice to Uniswap, a decentralized exchange platform. Uniswap Labs' Chief Legal Officer, Marvin Ammori, acknowledged receiving the regulatory notice, describing it as expected and disappointing. Last year, the SEC initiated an inquiry into Uniswap Labs. With increasing regulatory scrutiny, the company decided to delist some of its tokens.
Readers are urged to carry out their research before making investment and trading decisions due to inherent risk in the market. Further details about this news were provided by Geraint Price, Sam Bourgi, and Felix Ng.
Published At
4/11/2024 3:54:43 PM
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