Kalam Cypto #138: $100K Bitcoin Milestone + The Bitcoin World Comes to Abu Dhabi

“Who can ban Bitcoin? Nobody?” Vladimir Putin

Ahlan wa sahlan, and welcome to the 138th edition of CoinMENA’s weekly newsletter, Kalam Crypto! This week, Bitcoin hits a historic milestone, surpassing $100,000 per coin. The U.S. Federal Reserve Chairman compares Bitcoin to gold as a store of value, Microsoft shareholders vote against a Bitcoin treasury proposal, and the Bitcoin MENA conference brings global attention to Abu Dhabi. All this and more in this week’s edition of Kalam Crypto!

Global News 🌍

Bitcoin Reaches $100K and a $2 Trillion Market Cap: For the first time in history, Bitcoin has hit the $100,000 milestone, marking a significant achievement and pushing its market capitalization past $2 trillion.

Federal Reserve Chairman: Bitcoin as Digital Gold: In a notable shift in narrative, Federal Reserve Chairman Jerome Powell, speaking at the New York Times DealBook Summit, described Bitcoin as "digital gold," highlighting its speculative nature and volatility. While acknowledging its status as a competitor to gold, Powell dismissed the idea that Bitcoin poses any competition to the U.S. dollar. This reflects a changing perspective—Bitcoin is no longer seen as merely speculative, but as a legitimate asset class akin to gold.

Microsoft Shareholders Reject Bitcoin Treasury Proposal: Microsoft shareholders voted down a proposal to consider adding Bitcoin to the company’s treasury holdings, as expected. The proposal, introduced by the National Center for Public Policy Research, was supported by MicroStrategy Executive Chairman Michael Saylor, who presented Bitcoin’s benefits to the board. This decision is reminiscent of Microsoft’s past hesitation, such as their ex CEO’s infamous dismissal of the iPhone as "the most expensive phone in the world" with limited business appeal. 

Bitcoin MENA Conference: The Bitcoin World Gathers in Abu Dhabi

This week, Abu Dhabi hosted the Bitcoin MENA Conference, drawing prominent figures from the Bitcoin space to discuss the future of Bitcoin adoption. Key attendees included Dr. Saifedean Ammous, author of the bestselling book The Bitcoin Standard, Jeff Booth, Prince Philip of Serbia, Max Keizer, and Eric Trump, son of incoming U.S. President Donald Trump. The conference featured inspiring talks centered on advancing Bitcoin adoption at the nation-state level.

Key Highlights and Quotes:

• Dr. Saifedean Ammous: "If you don’t have Bitcoin, you don’t really have money. You’ve got brownie points, behavior points, where you are rewarded for nice behavior like a kid in kindergarten—it’s not really money."

• Eric Trump: "I am confident that Bitcoin is going to hit $1 million."

• Jeff Booth: "Bitcoin moves us away from an extractive system to a productive system, and defunds the war machine."

• Prince Philip of Serbia: "Bitcoin strategic reserves are already happening behind closed doors."

The event underscored Bitcoin's growing role on the global stage, with thought leaders emphasizing its potential to reshape economies and governments alike.

Keep an Eye On 👀

Bitcoin adoption is good for emerging markets: Bloomberg reports that El Salvador’s bonds are among the top performers in emerging markets. As the first country to adopt Bitcoin as a strategic reserve and legal tender, El Salvador has seen its Bitcoin holdings double in value, now exceeding $600 million. This bold move has boosted the nation’s credit rating and bond prices—an achievement the IMF hasn’t managed to deliver in over 30 years.

Tweet Of The Week 🐥

CoinMENA News 🗞️

$1,000 Bitcoin GiveawayWe’re celebrating Bitcoin’s historic $100K milestone with a special prize! Trade anytime before the end of the month, and 5 users will each receive $200 worth of Bitcoin directly in their CoinMENA Wallet!

Quiz Corner ✅ 

Last week’s question: What is Bitcoin’s maximum supply limit? The Correct answer is B) 21 million

This week’s question is, Why are El Salvador’s bonds performing so well?

a) Bitcoin adoption boosted the value of its reserves.

b) The IMF provided massive financial aid.

c) They sold Bitcoin to pay off their national debt.

d) They launched a "Buy 1 Bond, Get 1 Satoshi Free!" campaign that nobody could resist.

See the answer in next week’s newsletter. Or check out our learning platform https://university.coinmena.com/