Schiff’s Advice to Biden, Dogecoin’s Potential Surge, Microsoft’s Bitcoin Proposal, and More: This Week in Cryptocurrency – Grayscale Bitcoin Mini Trust (BTC) Common Units of Fractional Indivisible Beneficial Interest (ARCA: BTC)

The cryptocurrency world has been on a roller coaster ride this week. from Peter Schiff’s President Biden Suggested to Sell All US-Owned Bitcoin for Bears Bitcoin Bitcoin/USD, Ethereum Ethereum/USDand Dogecoin Dogecoin/USD There’s no shortage of action in the market and the potential surge in Dogecoin’s value. Let’s take a closer look at these stories.

Peter Schiff’s advice to Biden

Renowned economist Peter Schiff has urged President Joe Biden to sell all Bitcoin owned in the United States before the end of his term. Schiff believes the move could help reduce the country’s growing budget deficit. He shared his advice via a post, calling it “one good thing” Biden could do before making way for a potential President Donald Trump.

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Bitcoin, Ethereum, Dogecoin Turn Bearish

Cryptocurrency markets were lower on Monday despite U.S. Bitcoin ETF inflows approaching $10 billion. These include Bitcoin, Ethereum, and Dogecoin, all of which turned red.

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Dogecoin’s potential surges

Popular cryptocurrency trader and analyst Ari Martinez is optimistic about the future of Dogecoin. Martinez plans to buy more meme coins after Dogecoin’s decline in value, saying it’s still early in the Dogecoin bull cycle. He predicted that if things go “crazy,” Dogecoin could reach $18.

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Microsoft’s Bitcoin Proposal

Ripple’s Stablecoin Approval
Ripple Labs’ RLUSD stablecoin received approval from the NYDFS, marking an important milestone in its market expansion. The new USD-pegged stablecoin is part of Ripple’s strategy to capitalize on the growing demand for stablecoins.

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Bitcoin’s next move

Bitcoin has fallen after surging in 2024, driven by multiple catalysts including a Bitcoin ETF and more companies acquiring the cryptocurrency. As speculation continues to grow about its next move, more than 60% of Benzinga readers predict a new all-time high will follow, while others predict a further drop to $85,000.

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Photo credit: Shutterstock

This story was generated using Benzinga Neuro and edited by Anan Ashraf.