FX168 Financial News (Asia Pacific) News On Wednesday (April 24), Bitcoin rebounded to $66,790, once again trying to break through the key resistance of $67,000. Tesla, led by billionaire Elon Musk (Elon Musk), did not sell any bitcoins in the first quarter. China and other BRICS member states agreed to launch stablecoins for international trade settlement and increase de-dollarization efforts.
Tesla revealed that there were no sales of its $7110,500,000 worth of bitcoin in the first quarter of 2024. According to reports, the company did not mention Bitcoin trading activity in its latest earnings report.
(Source: Twitter)
Watcher.Guru reports that before the earnings report was released, it was known that Tesla owned 9,720 bitcoins. This is the seventh consecutive quarter that Tesla's Bitcoin inventory has not been sold. Fortunately, their Bitcoin value has risen significantly over the past quarter, mostly thanks to the approval of the Bitcoin Spot ETF.
Furthermore, as asset prices rise in the coming weeks following the halving event, the value of Bitcoin held by Tesla is likely to rise further.
The company continues to hold on to its massive Bitcoin investments even as the price of the biggest cryptocurrency continues to rise. The last time it reduced its holdings was in the second quarter of 2022, when 75% of Bitcoin worth around $936 million was liquidated.
Following the announcement of its stablecoin plan on Tuesday, the BRICS Union is stepping up efforts to reduce its dependence on the US dollar. Given that the BRICS countries have been accumulating large amounts of gold, most people expect stablecoins to be backed by gold. #去美元化浪潮 #
The BRICS countries said they are considering developing a stablecoin for international trade. The idea was well expressed by Russian Deputy Foreign Minister Sergei Ryabkov (Sergei Ryabkov), who emphasized the benefits stablecoins can bring to this group. He reiterated the Union's need to unify the financial system, and stablecoins might be the only solution.
(Source: Twitter)
As the BRICS economies continue to rise, developing their own stablecoins may help their countries prosper. The move could also lead to the birth of the Eurozone's own national currency.
The BRICS countries plan to launch stablecoins and step up de-dollarization efforts. With the advent of BRICS stablecoins, a race to end the dependence of global trade on the US dollar may soon be upon us. This move is one of many initiatives promoting the concept of a “multipolar world” to end the dependence of international trade on the US dollar.
Considering that the BRICS countries hold large amounts of gold, it is speculated that this stablecoin will be backed by gold.
FXStreet quoted an XRP enthusiast as implying that the BRICS countries will utilize Ripple (XRP), the upcoming stablecoin. These claims suggest that the BRICS's move to create their own stablecoins may not be a coincidence, as Ripple (Ripple) also announced plans to release stablecoins on the XRP Ledger later this year.
Bitcoin Technical Analysis: Exploring Strong Resistance at $67,000
CMTrade said that Bitcoin's RSI is below 50 and the MACD is above the signal line and has a positive value.
The RSI broke through the 50 zone and will seek further upward movement.
Furthermore, the price is above the 20 and 50-period moving averages, which are $66,499 and $66542, respectively.
“Our pivot point is at $67,870, and our preference is to look for $63,600 as long as $67,870 is resistance.”
“Another scenario is that the upward move above $67,870 will test 69,480 and 70,440.” #比特日报 #
(Source: CMTrade)