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Quick news synopsis from Wed 9th June 2021

0:00- El Salvador - so exciting
0:20 Pomp I literally can’t sleep. Absolutely unreal what is happening.

1:00 Residency Wars - 3BTC for El Salvador residency. 0.2BTC in Paraguay. BTC gives freedom options

2:00 What advice would you offer the citizens of Argentina during the past two decades as their currency collapsed? What advice would you offer the billions of people living in countries with collapsing currencies right now? #Bitcoin is a solution over the long term - fear is not. M Saylor

2:30 $SOL an ETH competitor is getting quite a bit of funding to go up against Ethereum. Solana Labs, a San Francisco-based blockchain company, raised $314.15 million (a nod to the mathematical ratio known as pi) in a token sale led by Andreessen Horowitz and Polychain Capital. ADA no longer a threat. World is big enough for both. I hold all 3

3:00 U.S. homeowners pulled 50BN in equity from their homes during the first quarter of this year per WSJ

4:00 Russia’s $186-billion sovereign wealth fund will reduce its dollar holdings from $40 billion to zero this month, finance minister Anton Siluanov announced last week at the International Economic Forum in St. Petersburg.

5:00 MSTR 1.6B upped from 400M to 500M tot oversubscribed. MSTR holds 92,079 Bitcoin which were acquired at an average price of around $24,450. With BTC trading at $35K at time of writing, $500 million would translate to about 15K Bitcoin. 

6:00 DK Tax Authorities going after Crypto traders from 2017... saying 2/3rd have not filed appropriately

6:30 Wei Zhou, the chief finance officer at Binance, has left the company, according to a spokesperson at the biggest crypto exchange by trading volume, after having worked there for nearly three years.

7:00 After El Salvador news BTC up nearly 10% changing hands near $36,500 at press time, having picked up from a bid near $31,000 late Tuesday.the biggest gain since May 24.

7:30 Inflation News - Data released by China early today showed the producer price index (PPI), also known as factory-gate inflation, rose 9% last month, highest since 2008. THIS fuels INFLATION worldwide - we are going to live with higher inflation globally, and China is the leading indicator

8:00 China’s Qinghai Province Has Ordered All Crypto Miners to Shut Down It follows other provinces, including Xinjiang and Inner Mongolia, in ordering miners to shut down.

8:20 El Salvador starts Volcano Mining

9:00 Bitcoin in backwardation points to a bear market - J.P. Morgan moving into backwardation, where the current price is higher than the futures price, is a reason to stay bearish on the crypto, J.P. Morgan says. It's a sign of weak institutional demand

10:00 Physics and law of thermodynamics guarantee BTC future. Bitcoin isn’t a perfect monetary system. It’s simply the best monetary system the world has ever seen. This is why, on a long enough time scale, the majority of the world’s monetary energy will be stored on the Bitcoin network. It’s simply the natural laws of the universe that make this inevitable.

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