Praises - Laughing Hyena

Turkish lira crashes against Bitcoin
Keiser stresses importance of upcoming 1-million BTC block

Max Keiser, a former financial journalist and commentator, who is currently a Bitcoin advisor to El Salvador’s president Nayib Bukele, has shared that Bitcoin has seen the first fiat currency crashing to zero against it over the past five years.

Turkish lira crashes against Bitcoin

This was Turkish Lira and Keiser retweeted an X post of another user with a screenshot of a chart to demonstrate it. Keiser made his frequent statement “Everything goes to zero against Bitcoin” but this time he added: “The Turkish Lira just got there faster.”

Unlike fiat currencies, Bitcoin is hard-capped at 21,000,000 coins and the majority of them (more than 19 million) have been mined out of the cyber space already. Scarcity is one of the features that makes Bitcoin unique and puts it above altcoins, which Keiser prefers to call as “s-coins.”

Meanwhile, Bitcoin has managed to reclaim the the $107,000 price level, adding roughly 2.26%, and jumping from the $105,430 zone. Cryptocurrency analyst and trader Ali Martinez tweeted earlier today that BTC had managed to break above the important resistance level at $106,900.

The trader now expects Bitcoin to reach $108,300 or even soar above $110,000.

Keiser stresses importance of upcoming 1-million BTC block

Earlier today, Max Keiser published a tweet, stating that the “block 1,000,000 will reveal the truth!”

As of June 8, Bitcoin miners have generated 900,394 blocks in the Bitcoin network, so the 1-millionth block is coming quite soon. What Keiser meant here was metaphorical and most likely he expects the global leading cryptocurrency to expand its impact around the world after that important milestone is behind.

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During an interview with futures trading veteran Anthony Crudele, CME Group’s Tim McCourt praised the utility of the Ripple-linked XRP token, claiming that it has “a really strong” use case.

“And when we also looked at XRP, it’s a similar story where it has a really strong use case,” McCourt said.

He has noted that the XRP Ledger is capable of processing 1,500 transactions per second.

Moreover, the XRP token is very actively traded in the spot market, according to McCourt.

As reported by U.Today, CME Group introduced XRP futures on May 19 after launching a similar product for Solana (SOL) earlier this year.

The products were launched in response to “clearly articulated customer demand,” McCourt said.

During the interview, he stressed that the crypto space is maturing, and CME aims to provide the necessary infrastructure for this evolution.

Notably, the Chicago-based derivatives giant launched both standard and micro XRP contracts.

“I think this might be the first time we’ve listed both flavors or both sizes of a contract at the same time,” McCourt added.

He has added that it speaks to a wide range of demand (among both institutional and retail investors).

With XRP futures, the derivatives giant has also offered various transactional handshakes and mechanisms that are already available for other ETFs.

Notably, CME Group expects the regulated futures to be critical infrastructure for exchange-traded products.

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