Quote from: rdbase on January 14, 2025, 03:22:37 PM

For those who were watching their bitcoin and cryptocurrency portfolios drop significantly yesterday probably wondered what caused such a downward spiral then sudden rise of nearly $8,000 in less than a 24 hour time period.

This is the reason why I believe caused it to come out of the ashes of misery yesterday:
Meta Advised to Bet on Bitcoin for Inflation Hedge - a proposal has been presented to Meta’s board. It suggests the company allocate a portion of its $72 billion in liquid assets into Bitcoin.

Although it has a relationship to the occurrence of a bitcoin downturn in the near future, I see the process happening naturally as usual and also influenced by other events that affect the decline in the price of bitcoin. In relation to the increasing adoption value, trust in bitcoin is growing and basic considerations related to hedging that are often discussed by most people and Meta itself may start to consider it. A majority of the Meta board needs to vote to smooth the move and maybe the testing phase will occur after that is agreed upon carefully.

That's a good decision because even though there is debate to reach a full vote, it requires approval from the Meta board itself. $ 72 billion is a large amount and requires approval that may not be easy to implement directly and allocating it in full at one time may be something that needs to be thought through carefully.