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Why is Bitcoin Skyrocketing? The Cryptocurrency Hits 2023 Record High
Bitcoin recently saw a big price increase. The cryptocurrency reached $35,150, making it the highest price in 2023. Experts say this jump is partly because people think a new Bitcoin ETF will soon launch in the U.S. Right now, the price of Bitcoin is $34,702, up 13.38% in just one day, according to data from CoinMarketCap.
Since the start of this year, Bitcoin's value has nearly doubled. However, it's still much lower than its all-time high. That was $69,000 back in 2021. People are hopeful that a U.S.-based Bitcoin ETF could bring a lot of money into the market. NYDIG, a finance company, thinks it could be as much as $150 billion.
Lucas Josa, a market analyst, adds more information. He works for Mynt, which is part of BTG Pactual, a financial services company. Josa says the price went above $32,000 when news came out about a possible ETF from BlackRock. BlackRock is a big deal because it's the world's largest manager of assets like stocks and bonds.
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— 🇺🇸/🇮🇷 The upcoming Iran-U.S. deal, what details will I be looking for?
1. Lebanon & Iran’s Frozen Assets
The primary issue between both sides in the past few weeks has consisted of two things:
1. A ceasefire in Lebanon
2. A partial release of Iran’s frozen assets up front.
If these two terms are included in the agreement, the U.S. would have compromised on them—if not, then Iran has compromised on them.
It also depends on the specifics of these terms. For example, will it be a true ceasefire in Lebanon—or will Israel be allowed to carry out limited strikes like in 2024-2025? Will Iran’s money be released immediately and unconditionally, or will it be released upon Iran’s agreement to certain other things? Will Iran be allowed to use the money in any way it wishes, or will it be limited to ‘humanitarian purposes’? These things all matter.
2. Management of the Strait of Hormuz
According to Iran’s SNSC, and per instruction of Iran’s Supreme Leader, the Strait of Hormuz must come ...
🇺🇸🤝🇮🇷❗️ — URGENT: The signing of a deal between the United States and Iran appears to be imminent, following statements by Iranian, U.S. and Pakistani leaders.
🇮🇷💬 Iranian Foreign Minister Abbas Araghchi (later reposted by Trump on Truth Social):
"The Islamabad Memorandum of Understanding has never been closer. Pending its finalization, the media should refrain from entering speculation about its content.
In line with our responsible and transparent approach, all details will be shared with the public in due course."
🇺🇸💬 U.S. Vice-president JD Vance after Mehr News leaked details of the alleged deal:
"I'm seeing a lot of fake information about a potential deal to reopen the Strait and end Iran's nuclear weapons program.
First, the Iranians are not receiving any cash, and no funds are being released for simply signing a deal or attending a meeting.
The deal is structured to ensure that the US and its allies concerns are prioritized, and that if the ...
