Bitcoin (**BTC-USD**) prices are experiencing a **decline**, recently falling below the **$57,000** mark during Wednesday's trading session. Morning Brief anchors **Brad Smith** and **Madison Mills** delve into the implications of this drop, particularly on **crypto miners**. The conversation highlights how fluctuations in cryptocurrency prices can significantly impact those involved in mining operations.

![Bitcoin Price Drop](https://s.yimg.com/os/creatr-uploaded-images/2024-09/3cc07750-6ac6-11ef-adfe-3e6971fea1b3)

For more insights and the latest market developments, tune in to the full episode of **Morning Brief**.

Bitcoin (BTC-USD) prices are on the decline, with the cryptocurrency falling below the $57,000 level in Wednesday's session. Morning Brief anchors Brad Smith and Madison Mills break down the details, discussing how the drop in cryptocurrency prices could impact crypto miners. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith

Bitcoin Dips Below $57K: What It Means for the Market

## The Hawk Tuah Girl Saga Continues

**Haliey Welch**, popularly known as **Hawk Tuah Girl**, finds herself embroiled in legal troubles following the controversial launch of her meme coin, **HAWK**. A group of investors has filed a lawsuit against the team behind HAWK, claiming they failed to properly register the cryptocurrency as a security.

![Hawk Tuah Girl](https://pyxis.nymag.com/v1/imgs/0e0/5fa/b247ce34f71031d94d8e32398896b9d9d8-hawktuah-lede.rsquare.w400.jpg)
*Photo: Tayfun Coskun/ Anadolu via Getty Images*

The investors, who saw the coin’s market cap surge to **$490 million** only to plummet by **90%** shortly after, are seeking damages exceeding **$151,000** from Clinton So, the founder of **overHere Ltd.**, the **Tuah the Moon Foundation**, and influencer **Alex Larson Schultz**. Though Welch is not named as a defendant, her involvement is heavily referenced in the lawsuit, with attorneys arguing that her participation misled investors into believing HAWK was a registered security.

The complaint highlights that many investors were new to cryptocurrency and were attracted to the project due to Welch’s influence. They claim the sudden decline in the token's value caused significant financial harm to those who relied on her participation and the project's promises.

In a recent statement on **X**, Welch expressed her concern for the affected investors, stating, “I take this situation extremely seriously. I am fully cooperating with and am committed to assisting the legal team representing those impacted.” She aims to uncover the truth and hold responsible parties accountable.

Meanwhile, a spokesperson for overHere maintains that they have acted transparently and done nothing wrong in the HAWK project. They assert their confidence in their legal standing concerning the lawsuit.

This ongoing saga serves as a cautionary tale for future viral celebrities in the crypto space: **consider sticking to podcasting instead!**

Haliey Welch, a.k.a. Hawk Tuah Girl, said that she is “fully cooperating” with the group of investors who have filed a lawsuit against the team behind her meme coin. 

The Hawk Tuah Girl Crypto Scandal: What You Need to Know!

### Latest Updates on Bitcoin and Crypto Markets

In the latest episode of **CNBC Crypto World**, viewers are presented with the most recent news and daily trading updates from the dynamic world of digital currencies. Today’s segment features **Kristin Smith** from the **Blockchain Association**, who delves into the anticipated **crypto regulations** that lawmakers are expected to prioritize in **2025**.

The show provides a comprehensive look at the ever-evolving landscape of cryptocurrencies, highlighting crucial interviews, explainers, and unique stories that shape the industry.

As Bitcoin experiences fluctuations, currently sitting at **$96,000**, the market's volatility draws significant attention. Investors are keen to understand the implications of these shifts and how they may affect future regulations and market strategies.

Stay tuned for more updates and insights as the crypto industry continues to unfold with new developments and regulatory discussions on the horizon.

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Kristin Smith of the Blockchain Association breaks down which crypto regulations she expects lawmakers to prioritize in 2025.

Bitcoin Dips to $96,000 Amidst Rising Volatility: Insights from CNBC Crypto World

### Key Takeaways
- President-elect Donald Trump is advocating for a **'Strategic National Bitcoin Stockpile'**, similar to the **Strategic Petroleum Reserve**.  
- A significant ownership of bitcoin by the U.S. could potentially allow the government to exert some control over the cryptocurrency market and discourage its use as an alternative to the dollar.  
- Economists warn that this proposal carries risks, including the potential need for taxpayers to bail out crypto investors if bitcoin prices fall.  

President-elect Donald Trump has been vocal about creating a **'Strategic National Bitcoin Stockpile'**, but the objectives of such a reserve are still uncertain. Recently, the price of **bitcoin (BTC)** hit an all-time high of over **$108,000**, coinciding with Trump's renewed call for the government to hold a stake in the cryptocurrency.

Despite a recent price drop following a Federal Reserve meeting, the concept of a strategic bitcoin reserve is gaining traction, though it faces skepticism from economists who question the rationale behind establishing a reserve for such a volatile asset.

Trump first pitched this idea during a bitcoin conference in Nashville last July, suggesting that the cryptocurrency seized during criminal investigations could form the basis of this stockpile, with the intention of never selling it. According to **BitcoinTreasuries**, the U.S. currently possesses **198,000 bitcoins**, valued at about **$21 billion**.

Bitcoin's supply is capped at **21 million**, with around **19.79 million** already mined.

### What Are Other Strategic Reserves that the US Holds?
This proposal echoes the establishment of the **Strategic Petroleum Reserve** in 1975, created in response to oil embargoes that led to significant economic disruptions. The U.S. currently stores up to **727 million barrels of oil** in underground facilities for emergency use, aiming to sell oil when prices are high and refill when prices are low.  

The idea of a government bitcoin stockpile has gained momentum as crypto investors increasingly influence Washington. In July, Senator **Cynthia Lummis** introduced a bill advocating for the government to purchase **1 million bitcoins** over five years as a hedge against economic instability, akin to gold reserves.

### The Case For a Strategic Bitcoin Reserve
**Tyler Cowen**, an economist at George Mason University, argues that U.S. investment in bitcoin could bolster the dollar's status as the world's reserve currency and reinforce U.S. dominance in the global financial landscape.  

**Padhraic Garvey**, head of research at ING, points out that controlling bitcoin supply could prevent it from falling into the hands of malicious actors and deter other nations from adopting bitcoin as a currency alternative.

### The Case Against A Strategic Bitcoin Reserve
Despite its potential advantages, the proposed reserve has met criticism from experts. Unlike oil, bitcoin is not essential for the economy and cannot be utilized in military operations during a national emergency. While government purchases of bitcoin might boost prices, the overall economic benefits remain ambiguous.  

Garvey states, "It’s not clear what a crypto reserve would serve, apart from ensuring there is enough U.S. influence over it." Establishing such a reserve could also involve economic risks, as it would obligate taxpayers to support bitcoin, a high-risk financial asset. **Ramaa Vasudevan**, an economics professor, expressed concerns that the fund would give bitcoin speculators a safety net, suggesting that the government would step in to rescue the asset during a crash.

President-elect Donald Trump has been promoting the idea of creating a ‘Strategic National Bitcoin Stockpile,’ but the purpose of such an institution remains unclear.

The Controversial Proposal for a 'Strategic Bitcoin Reserve': What Does It Mean for the Future?

# Craig Wright's Failed Lawsuit Against Bitcoin

In a recent ruling, a **UK judge** has dismissed **Craig Wright's** **$1.1 trillion lawsuit** claiming rights to Bitcoin. This lawsuit, which names a non-existent entity he refers to as **“BTC Core,”** alleges that this entity comprises **122 corporate entities** and **22 individuals** involved in Bitcoin development.

## The Court's Ruling
The court stated that **COPA** and others assert that **BTC Core** is merely a fabrication of Wright's, intended to implicate those involved in Bitcoin's evolution as part of a partnership that does not exist. The judge emphasized that it’s unnecessary to resolve the issue of whether such a partnership exists.

## Wright's Previous Claims
Wright's lawsuit seems to repeat his **dishonest claims** of being **Satoshi Nakamoto**, a point the judge did not overlook. Despite Wright's arguments to the contrary, the court found that his current claims still included references to his supposed identity as Bitcoin's creator. The judge remarked that Wright's new claims could not be maintained without asserting **intellectual property rights** that were previously barred by court order.

## Copyright Claims Under Scrutiny
The ruling also addressed Wright's copyright claims, stating that he could not assert these claims without proving ownership of the rights he alleged were infringed. The judge noted that without a license or assignment from the alleged copyright owner, Wright's claims were untenable.

This ruling marks another significant setback for Wright in his ongoing **legal battles** related to Bitcoin, further diminishing his credibility in the crypto community.

UK judge issues 1-year suspended prison sentence as Wright hides in Asia.

Craig Wright's $1.1 Trillion Bitcoin Lawsuit Dismissed by UK Judge: The Shocking Details

### Metaplanet's Bitcoin Strategy
Japanese investment firm **Metaplanet** has announced a plan to use **debt** to acquire more **Bitcoin**, emulating the strategy of American firm **MicroStrategy**, despite facing **pushback** from shareholders this week.

The company revealed on Friday that it would issue **5 billion yen** (approximately **$31.9 million**) in bonds specifically to boost its **Bitcoin** purchases. This recent bond issuance adds to an earlier announcement made just days prior, bringing the total funds raised for Bitcoin acquisition to nearly **$61 million**.

> *Metaplanet to issue 5.0 billion yen in Ordinary Bonds to Accelerate Bitcoin Purchases; Repayment to be made from Warrant Exercise Proceeds*  
> — Metaplanet Inc. (@Metaplanet_JP) December 20, 2024

### Shareholder Skepticism
Despite the ambitious Bitcoin strategy, Metaplanet's share price took a hit on Tuesday, indicating skepticism among investors regarding its Bitcoin-focused approach. The firm declared itself “officially a Bitcoin treasury company,” emphasizing its role as a pioneer in Japan's **Bitcoin ecosystem**.

As of now, Metaplanet's stock is trading at **$23 per share**, down nearly **3%** that day and over **12%** this week.

### Following in MicroStrategy's Footsteps
Metaplanet, which is publicly traded on the **Tokyo Stock Exchange**, aims to emulate MicroStrategy, the largest public holder of Bitcoin. Earlier this year, it made a significant purchase of **Bitcoin** valued at **1 billion yen**.

MicroStrategy currently holds **423,650 BTC**, worth over **$41 billion**, positioning Metaplanet as Asia's answer to this major player in the cryptocurrency market.

### Bitcoin's Price Fluctuations
Recently, **Bitcoin** reached a new all-time high of **$108,135**, as reported by **CoinGecko**, experiencing substantial growth over a week. However, following a more hawkish-than-expected speech by **Federal Reserve Chairman Jerome Powell** regarding interest rates, Bitcoin's price has since dropped to around **$96,846**, with fluctuations noted as low as **$92,245** early Friday.

*Edited by [Andrew Hayward](https://decrypt.co/author/andrew-hayward)*

Metaplanet, a Japanese investment firm, has issued more debt to buy Bitcoin despite apparent pushback from shareholders this week.

Metaplanet's Bold Move: $61 Million Debt for Bitcoin Acquisition in Japan

**MicroStrategy** has seen a **6.5% surge** today, reigniting investor confidence as **Bitcoin** stabilizes after a turbulent period. The company, led by **Michael Saylor**, is well-known for its strategy of converting its stock value into **Bitcoin**. This unique approach thrives on keeping a premium between its stock price and Bitcoin holdings, a balance that faced challenges during Bitcoin's recent downturn. Today's increase indicates that investors are not ready to dismiss Saylor's high-stakes strategy just yet.  

**Riot Platforms** also made waves with a **1% gain**, continuing its upward momentum. Unlike MicroStrategy, Riot focuses on **Bitcoin mining** and has strategically increased its reserves by purchasing more cryptocurrency. Over the past two weeks, Riot has added **over 6,000 Bitcoins** to its balance sheet, bolstered by a **$579 million debt raise**. Saylor has praised Riot's aggressive accumulation strategy, dubbing it as being on the **Bitcoin standard**. However, Riot's growing dependence on debt introduces potential risks that cautious investors should consider.  

For investors looking at these opportunities, the message is clear: **Bitcoin-linked stocks** like MicroStrategy and Riot Platforms present exciting yet volatile prospects. MicroStrategy's rebound indicates that its strategy is still in play, while Riot's consistent growth reflects increasing confidence in its long-term viability. Nevertheless, as both companies remain heavily influenced by Bitcoin's unpredictable nature, many investors may find direct investment in the cryptocurrency itself to be a simpler and more attractive option in the dynamic crypto landscape.

Two crypto giants make waves as Bitcoin steadies--are these stocks your next big opportunity?

Could Bitcoin's Stability Spark a New Crypto Boom? MicroStrategy and Riot Platforms Lead the Charge!

# The Rise of Cryptocurrency in Travel

As **cryptocurrency** gains popularity, it's making its way into various aspects of life, including **travel**. More travelers and businesses are adopting digital currencies for travel payments, providing several advantages that enhance the travel experience.

![Travel in Thailand](https://specials-images.forbesimg.com/imageserve/6764897e7c8f199481ca7810/THAILAND-ECONOMY-TOURISM/960x0.jpg?fit=scale)
*Tourists ride a longtail boat past Wat Arun temple along the Chao Praya river in Bangkok on December 19, 2024. (Photo by Lillian Suwanrumpha / AFP)*

## How Crypto-Backed Payments Work

Today’s technology allows users to retain **self-custody** of their digital assets, engage in **secure transactions**, and avoid costly currency conversion fees. An emerging trend is the use of **crypto-backed payment cards**, allowing clients to fund purchases directly with supported cryptocurrencies instead of converting local currency.

**WeFi** is a fintech platform at the forefront of this industry, offering spending accounts that enable individuals and businesses to pay with crypto using **Visa debit cards** with high limits. Users can connect personal digital wallets for instant transaction settlements, supporting multiple crypto tokens, including their native token, **WeFi (WFI)**, which offers cheaper fees and rewards.

## Using Cryptocurrency For Travel

In **crypto-friendly destinations**, an increasing number of travel providers and online booking sites accept cryptocurrency for payments. Crypto purchases can include:
- Booking flights, hotels, vacation rentals, and experiences
- Buying travel gift cards
- Earning loyalty rewards
- Paying tour guides and merchants
- Qualifying for exclusive crypto travel deals

Tech-savvy travelers prefer alternative currencies for flexibility and lower fees. Payments can be made directly with **Bitcoin**, **Ethereum**, **Ripple**, and more, often resulting in transaction discounts and lower fares.

## Payments Are Efficient And Secure

Cross-border payments are typically more expensive due to fraud risks and complexities. However, **blockchain technology** enhances efficiency and fosters a safer business environment. **WeFi**, co-founded by **Maksym Sakharov**, uses blockchain to address traditional financial system inefficiencies, employing **smart contracts** for near-instant transactions less prone to human error. 

## Lower Conversion Costs

A significant advantage of cryptocurrency payment methods is the lower transaction fees, ranging from **0% to 2%**, compared to traditional credit card fees of **1.5% to 6%**. This reduction increases spending ability and lowers travel costs, making it attractive for both travelers and vendors.

## Cryptocurrency For Travel Allows Self-Custody

Self-custody of crypto assets enhances security while traveling. Users can store balances in offline wallets and utilize **WeChain** technology for fast transactions. Partnerships with **Cosmos**, **Ledger**, and **Gemini** enable payments across networks, providing better control over finances.

## Pendulum Rewards

**WeFi** operates its **Pendulum rewards program** to ensure liquidity and efficiency. Users can convert cryptocurrencies into WeFi tokens, earning rewards that lower processing fees, while node operators generate tokens for liquidity. The WeFi engine can seamlessly convert tokens into local currency for transactions, making it easier for travelers.

## Final Thoughts

Modernizing payment options for international travel simplifies the experience and makes it more affordable, especially in crypto-friendly countries. Utilizing cryptocurrency for travel offers new ways to save money while maintaining financial control.

More travelers and businesses are adopting cryptocurrency for cross-border payments.

Bitcoin Dips Below $57K: What It Means for the Market

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Other Latest News

The Hawk Tuah Girl Crypto Scandal: What You Need to Know!

Bitcoin Dips to $96,000 Amidst Rising Volatility: Insights from CNBC Crypto World

The Controversial Proposal for a 'Strategic Bitcoin Reserve': What Does It Mean for the Future?

Craig Wright's $1.1 Trillion Bitcoin Lawsuit Dismissed by UK Judge: The Shocking Details

Metaplanet's Bold Move: $61 Million Debt for Bitcoin Acquisition in Japan

Could Bitcoin's Stability Spark a New Crypto Boom? MicroStrategy and Riot Platforms Lead the Charge!

Unlocking the Future of Travel: How Cryptocurrency is Changing the Way We Explore the World

Other Latest News

The Hawk Tuah Girl Crypto Scandal: What You Need to Know!

Bitcoin Dips to $96,000 Amidst Rising Volatility: Insights from CNBC Crypto World

The Controversial Proposal for a 'Strategic Bitcoin Reserve': What Does It Mean for the Future?

Craig Wright's $1.1 Trillion Bitcoin Lawsuit Dismissed by UK Judge: The Shocking Details

Metaplanet's Bold Move: $61 Million Debt for Bitcoin Acquisition in Japan

Could Bitcoin's Stability Spark a New Crypto Boom? MicroStrategy and Riot Platforms Lead the Charge!

Unlocking the Future of Travel: How Cryptocurrency is Changing the Way We Explore the World