### Bitcoin's Upward Momentum

Bitcoin has been on a **remarkable upward trajectory**, continuing its **bull run** and reaching an **all-time high** just under the **$100,000 mark**. 

This recent surge has captured the attention of investors and market analysts alike, leading many to speculate about the future of cryptocurrency. **What does this mean for potential investors?**

### Key Insights

- **Market Sentiment:** The current market sentiment surrounding Bitcoin is undoubtedly **bullish**, with many anticipating further growth.
- **Investment Strategies:** Investors are encouraged to consider their strategies carefully, as the volatility of cryptocurrency can lead to both significant gains and losses.
- **Future Predictions:** Experts are weighing in on what the next steps could be for Bitcoin and whether it can maintain this momentum or face corrections.

Stay tuned for more updates as we continue to monitor Bitcoin's performance in the market!

Bitcoin continued its upward momentum on Friday, reaching a new all-time high just under the $100,000 mark. Watch in for more details!

Bitcoin Soars to New Heights: What You Should Know About the $100,000 Milestone

Cryptocurrency’s newly minted **respectability** has come at the price of becoming just another **asset class**.

![Illustration of bitcoin](https://cdn.theatlantic.com/thumbor/32-4giFflYPHC_FV5VGwevsAwcs=/0x0:2000x1125/960x540/media/img/mt/2024/12/20241219_bitcoin_respectable/original.jpg)

**December 22, 2024, 8 AM ET**  
Until now, the phrase **crypto winter** meant that cryptocurrency traders were facing hard times: a period of tumbling and depressed prices that had to be weathered until the good times returned. Today, though, the cryptocurrency industry is enjoying an end-of-year season more akin to **“brat summer”**: This month, crypto prices hit previously unheard-of highs, with **bitcoin trading above $100,000**. In this new **Era of Good Feelings**—to borrow a phrase from early-19th-century American history—skeptics have become believers, and a digital-economic instrument designed to circumvent, if not replace, the traditional financial system is becoming more integrated into it.

The catalyst for this boom, of course, was last month’s **election of Donald Trump**. Bitcoin’s price fell this week, but it’s still up almost **40 percent since November 5**, and other major cryptocurrencies, such as **ethereum** and **ripple**, have seen similar spikes. It’s not hard to see why. Trump nominated **Cantor Fitzgerald CEO and crypto enthusiast Howard Lutnick** to be his secretary of commerce. He named **Paul Atkins**, also a crypto advocate, as the next head of the **Securities Exchange Commission**, replacing Gary Gensler, who became crypto’s **bête noire** for bringing lawsuits against the biggest crypto exchanges and numerous other players in the industry. And Trump recently repeated his campaign promise to set up a **Bitcoin Strategic Reserve**, which would require the Treasury Department to purchase billions of dollars’ worth of the cryptocurrency and hold it as a **permanent national asset**.

Cryptocurrency’s newly minted respectability has come at the price of becoming just another asset class.

Bitcoin's Transformation: From Wild West to Mainstream Asset

### A Shocking Scam in Richmond, Virginia

A **Richmond woman** recently became a victim of a **Bitcoin scam**, losing over **$30,000**. According to police reports, she was misled by a fraudulent email that appeared to be from **PayPal**.

### The Deceptive Email

The email warned her about a supposed purchase of malware and instructed her to call a specific number to resolve the issue. When she called, she fell prey to a skilled scammer who manipulated her emotions. 

### Emotional Manipulation

Detective Greg Wade shared that the scammer claimed, “You added too many zeroes,” and played on her sympathy by saying he would lose his job during the Christmas season. This emotional appeal led her to make a hasty decision.

### The Financial Loss

In a desperate attempt to rectify her mistake, the woman withdrew **$34,300** from two banks. Following the scammer's instructions, she loaded the cash into a **Bitcoin machine** on **Azalea Avenue**, taking her two hours and completing **873 separate transactions**.

### Recovery of Funds

Fortunately, Detective Wade acted swiftly by obtaining a search warrant, which allowed the police to shut down the Bitcoin machine. When they accessed it, they found her cash still intact. Although her money is currently being held as evidence, she is set to recover it all.

### The Scammer's Location

The investigation revealed that the scammer was traced to a location outside the United States. 

**Thanks to the efforts of the Richmond City Police Department, the victim will get her money back.**

A Richmond, Virginia, woman lost more than $30,000 after police say she fell victim to a scam.

Beware of Bitcoin Scams: How a Virginia Woman Lost Over $30,000

The performance of **Bitcoin (CRYPTO: BTC)** this year has been nothing short of extraordinary. It's now **up about 46%** since the election on Nov. 5, and **146% year to date**. Best of all, Bitcoin recently broke through the **$100,000 price level** to hit another all-time high just north of **$108,000**.

But what if I told you there is another top cryptocurrency that is **up more than 120%** since the election, and **430% year to date**? That cryptocurrency is **Sui (CRYPTO: SUI)**, which now ranks **14th among all cryptocurrencies** with a **$13 billion market cap**.

If you’ve never heard of Sui, that’s understandable. The cryptocurrency only launched in **May 2023**, just as the market was emerging from the **crypto winter of 2022**. Its launch flew under the radar of investors due to the aftermath of the collapse and scandal of crypto exchange **FTX** in November 2022.

Fast-forward to **August 2024**. That’s when **21Shares** — the company that partnered with **Cathie Wood's Ark Invest** on the launch of spot exchange-traded funds (ETFs) for Bitcoin and **Ethereum (CRYPTO: ETH)** — released a research report on Sui, detailing all of its unique characteristics. For example, it described how a new technical upgrade made Sui **faster than any other top blockchain** by a substantial margin. It pointed out how Sui was rapidly growing in terms of **total value locked (TVL)**, a key metric indicating the relative strength of a particular blockchain.

![Excited investor with mobile phone.](https://s.yimg.com/ny/api/res/1.2/BvUxhsKjZKwGR7DcaSEZQw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY2OTtjZj13ZWJw/https://media.zenfs.com/en/motleyfool.com/58570e13c1fcdf6000e71191b795508d)

The title of the report ("Is Sui a **Solana (CRYPTO: SOL)** Killer?") was provocative for crypto investors. It suggested that Sui had the technological chops to take on Solana, which now ranks as the **fifth-largest cryptocurrency**. For several years, Solana has been positioned as the next **Ethereum**, so Sui being seen as a potential **Solana killer** is significant. In fact, 21Shares suggested there might be a **$68 billion market opportunity** for Sui if it can compete with Solana successfully.

However, my primary concern with Sui is that it may be **overheating**. Like Bitcoin, it is smashing through all-time high after all-time high. Currently, Sui is trading at about **$4.50** after briefly testing the **$5 price level**. For crypto traders, $5 represents a psychological price barrier similar to the **$100,000** level for Bitcoin. It took Bitcoin a while to break through that level, so Sui may face challenges breaking through the **$5 price level** by the end of this year.

The performance of Bitcoin (CRYPTO: BTC) this year has been nothing short of extraordinary.  Best of all, Bitcoin recently broke through the $100,000 price level to hit another all-time high just north of $108,000.  The cryptocurrency only launched in May 2023, just as the market was emerging from the crypto winter of 2022.

Discover the Cryptocurrency That Could Outperform Bitcoin Right Now!

### Michael Saylor's Bitcoin Reserve Proposal

**Michael Saylor**, after four years of building **MicroStrategy's** Bitcoin reserves and profiting over **$15 billion**, is urging the United States to adopt **Bitcoin** as a **strategic national asset**. He believes that this could not only **bolster the dollar** but also address the **national debt** and unlock **trillions in economic value**.

> “A strategic digital asset policy can empower millions of businesses, drive growth, and create trillions in value,” Saylor stated.

### Key Components of the Proposal

Saylor's proposal includes:
- **Categorizing assets like Bitcoin as “digital commodities”**.
- Establishing clear **rights and responsibilities** for issuers, exchanges, and owners.

Currently, the **US holds over 207,000 Bitcoin**, seized from cases like the **Silk Road**, which is more than any other government in the world. While not mentioned in his proposal, Saylor envisions that a Bitcoin reserve could create between **$16 trillion to $81 trillion** in wealth for the US Treasury, helping to mitigate the national debt.

He predicts that the **digital asset market** could expand to **$280 trillion**, which is over **100 times its current size**, although he did not provide specific methods to support these projections.

### Senator Lummis's Support

**Senator Cynthia Lummis** has endorsed Saylor's vision, proposing a framework for a Bitcoin reserve that involves:
- The **US Treasury purchasing 200,000 Bitcoin annually** for five years until it reaches **one million tokens**, which would represent about **5% of Bitcoin's total supply**.
- Funding these purchases through profits from **Federal Reserve bank deposits** and **gold holdings**, maintaining the reserve for a minimum of **20 years**.

Saylor warned that failure to act could result in the US falling behind countries like **China**, stating, “The United States has an opportunity to catalyze a **21st-century capital markets renaissance**, unleashing trillions of dollars in value creation.”

### Current Crypto Market Status
- **Bitcoin** is down **3%** over the past 24 hours to **$96,160**.
- **Ethereum** has decreased by **6.3%** to **$3,325**.

### Related News
- [Jump Trading crypto subsidiary hit with $123m fine over TerraUSD scandal](https://www.dlnews.com/articles/regulation/jump-trading-crypto-subsidiary-pays-123-million-for-terrausd/) — DL News
- [Ohio Republican Senator Bernie Moreno to Serve on Influential Senate Banking Committee](https://unchainedcrypto.com/ohio-republican-senator-bernie-moreno-to-serve-on-influential-senate-banking-committee/) — Unchained
- [Hex founder Richard Heart wanted by Interpol, Europol on charges of tax evasion and assault](https://www.theblock.co/post/332106/hex-founder-richard-heart-wanted-by-interpol-europol-on-charges-of-tax-evasion-and-assault) — The Block
- [Tether Takes $775M Stake in Video-Sharing Platform Rumble; RUM Shares Soar 41%](https://www.coindesk.com/business/2024/12/20/tether-takes-75-m-stake-in-video-sharing-platform-rumble) — CoinDesk
- [The Fed looms like Grinch over Bitcoin, Ethereum, and XRP](https://www.dlnews.com/articles/markets/fed-looms-like-grinch-over-bitcoin-ethereum-and-xrp/) — DL News

Kyle Baird is *DL News*’ Weekend Editor.

Michael Saylor proposes a Bitcoin reserve to create up to $81 trillion for the US Treasury. Lummis suggests buying 200,000 Bitcoin annually to build a strategic reserve. 

Michael Saylor's Bold Vision: An $81 Trillion Bitcoin Reserve for America

![Bitcoin Representation](https://newsimg.koreatimes.co.kr/2024/12/22/4eddd06e-8fac-4556-8254-f0e8c40a1d09.jpg)

A representation of **Bitcoin** and a price chart are seen in this October 2023 photo illustration. Reuters-Yonhap

South Korea and the **United States** are conducting joint research to strengthen protection against **cryptocurrency heist** attempts amid growing concerns of such attacks by **North Korea-linked hackers**, officials said Sunday.

Based on a recently signed technical annex between the South Korean government and the **U.S. Department of Homeland Security**, the two sides will jointly develop technologies to prevent **cryptocurrency-targeted attacks** and to track stolen assets, according to authorities and cybersecurity industry officials.

The **science ministry** plans to support such research through the **Institute of Information & Communications Technology Planning & Evaluation** until 2026.

This initiative comes as the price of **Bitcoin** recently surged to **$100,000** after the **U.S. presidential election**, raising concerns of increased attempts by hackers to steal virtual assets.

While the United States collaborates with other countries for cybersecurity research, it has notably chosen **South Korea** for research on **digital asset tracking technology** as North Korea is seen as a key culprit behind cryptocurrency heists.

Under the program, South Korean and U.S. researchers, including those from **Korea University** and the **RAND research institute**, will focus on technologies to prevent and track hackers when they steal assets from a cryptocurrency exchange.

They will also aim to understand how hackers convert or launder other financial assets they obtain into virtual assets through illegal **ransomware** or other methods.

**North Korea** is known as a major player in cryptocurrency heists, with hackers linked to the country estimated to have stolen **$1.34 billion** worth of cryptocurrency across **47 incidents** this year, according to **Chainalysis**, a blockchain analysis firm.

South Korea and the United States are conducting joint research to strengthen protection against cryptocurrency heist attempts amid growing concerns of such attacks by North Korea-linked hackers, officials said Sunday. 

US and South Korea Unite to Combat North Korean Cryptocurrency Thefts

## **Let’s Talk Bitcoin: Engaging the Community**  
In North County, a **dynamic meetup group** is bringing together cryptocurrency enthusiasts to discuss the latest trends and innovations in the world of digital currencies. This initiative aims to create a vibrant community where both newcomers and seasoned investors can share insights and experiences.  
  
## **What to Expect**  
Participants can look forward to:  
- **Interactive Discussions**: Engage in lively debates about the future of Bitcoin and other cryptocurrencies.  
- **Networking Opportunities**: Connect with like-minded individuals, potential investors, and industry experts.  
- **Educational Insights**: Gain knowledge from presentations and discussions that cover various aspects of cryptocurrency, including market analysis and investment strategies.  
  
## **Join the Movement**  
As interest in cryptocurrency continues to grow, these meetups provide a crucial platform for education and networking. Whether you're looking to invest or just curious about the crypto space, this community welcomes everyone eager to learn more about the evolving world of Bitcoin and beyond.

Exploring the Cryptocurrency Community: North County's Engaging Meetup Group

The **S&P 500** market index has seen a **total return of 25% in 2024**, which is impressive, but it pales in comparison to the **crypto market**. As of the end of 2023, the total market value of all cryptocurrencies reached **$1.65 trillion**, and by December 19, this number doubled to **$3.30 trillion**.

**Bitcoin (CRYPTO: BTC)** has gained **138%** during this period, while **Solana (CRYPTO: SOL)**, known for its **smart contracts**, showed a **101% gain**. However, Solana's performance shines even brighter when looking back further; starting from the lows of December 2022, Solana has achieved a staggering **2,000% price gain**.

![Solana Price Chart](https://s.yimg.com/ny/api/res/1.2/t69g0WjrNkNHoahhD1sI6g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUzOTtjZj13ZWJw/https://media.zenfs.com/en/motleyfool.com/c37a09122fa597d1ef96e10b427f0dc1)

This recent surge in Solana's price comes after a drastic drop from **$259 to $10 per token** due to the collapse of **Sam Bankman-Fried's FTX crypto exchange**. While Bitcoin also suffered during this period, its decline was less severe. Therefore, Solana's impressive gains can be attributed, in part, to its low starting price.

On the upside, Solana continues to excel in executing smart contracts efficiently, making it ideal for automating financial transactions and managing decentralized applications under pressure. This capability positions Solana as a strong contender for widespread adoption in the future, particularly in sectors like mobile gaming and blockchain trading.

Given its return to the **top-10 list** of major cryptocurrencies, investing in Solana appears to be a sound strategy for 2024, as its applications are expected to expand significantly in real-world scenarios.

Is it time to swap Bitcoin for Solana? Here's what you need to know about these big crypto names and their long-term prospects.

Bitcoin Soars to New Heights: What You Should Know About the $100,000 Milestone

Summary:

Bitcoin's Upward Momentum

Key Insights

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Other Latest News

Bitcoin's Transformation: From Wild West to Mainstream Asset

Beware of Bitcoin Scams: How a Virginia Woman Lost Over $30,000

Discover the Cryptocurrency That Could Outperform Bitcoin Right Now!

Michael Saylor's Bold Vision: An $81 Trillion Bitcoin Reserve for America

US and South Korea Unite to Combat North Korean Cryptocurrency Thefts

Exploring the Cryptocurrency Community: North County's Engaging Meetup Group

Is Solana the New Bitcoin? Discover the Surprising Gains of 2024!

Other Latest News

Bitcoin's Transformation: From Wild West to Mainstream Asset

Beware of Bitcoin Scams: How a Virginia Woman Lost Over $30,000

Discover the Cryptocurrency That Could Outperform Bitcoin Right Now!

Michael Saylor's Bold Vision: An $81 Trillion Bitcoin Reserve for America

US and South Korea Unite to Combat North Korean Cryptocurrency Thefts

Exploring the Cryptocurrency Community: North County's Engaging Meetup Group

Is Solana the New Bitcoin? Discover the Surprising Gains of 2024!