CryptoCurrency
Mining Bitcoin In The Congo And Beyond: The Journey Of BigBlock Datacenter’s Sébastien Gouspillou
Listening to Sébastien Gouspillou share stories from the past eight years of his international life as a Bitcoin miner, it’s difficult to believe he’s telling the truth.
Each of his tales come across as works of fiction in which he, often compelled by little more than blind faith and a desire to utilize cheap energy for Bitcoin mining, comes out on top after struggling through soul-shaking trials and tribulations.
And what’s perhaps most mystifying is that he tells many of these stories while smiling from ear to ear, beaming with a certain radiance that comes from having an indefatigable spirit (except for when he tells parts of the stories where others are hurt, wronged or killed; at those points he grows somber).
To quickly provide an overview of his journey, since 2017, the 55-year-old citizen of France and co-founder of BigBlock Datacenter, a Bitcoin mining company, has traversed the planet. From former Soviet states to Africa to The Middle East to South America, he’s been in search of stranded energy for this company’s operations, witnessing both the best and worst of what humanity has to offer in the process.
Gouspillou has become most well known for helping to establish a Bitcoin mining facilities in Virunga National Park in the Democratic Republic of the Congo (DRC), where some of the operation’s proceeds have gone back to both the park for its conservation efforts as well as to bettering the the lives of those in communities that surround the facilities.
Gouspillou has also seen how Bitcoin mining is furthering efforts to electrify rural Africa. After what he’s seen on this front, he believes that we cannot live in a world without Bitcoin mining at this point because “it’s just too useful,” as he puts it.
But Gouspillou hasn’t always been a Bitcoin believer, nor a successful entrepreneur. Before finding Bitcoin, his professional life was more run-of-the-mill, as he held a number of salaried positions in a handful of fields that seemed notably less exciting than running Bitcoin mining operations in some of the most off-the-beaten-path regions of the world.
Gouspillou’s Life Before Bitcoin
Before falling down the proverbial Bitcoin rabbit hole in 2015, Gouspillou had a number of different jobs ranging from working for a real estate developer to working for a forestry company in Asia to importing dry cleaning machines for companies as big as Euro Disney.
“I’m not a scientist or an engineer,” Gouspillou told Bitcoin Magazine.
“I’m a businessman, and my training is in marketing and sales. It was hard for me to understand Bitcoin at first,” he added.
He first heard about Bitcoin in 2010 when his childhood friend and now co-founder of BigBlock Datacenter, Jean-François Augusti, began mining it.
Gouspillou dismissed his friend’s efforts back then; he felt Augusti was wasting his time mining bitcoin.
Five years later, though, Bitcoin piqued Gouspillou’s interest, and he spent most of 2015 researching it. Toward the latter part of that year, he approached Augusti with a new perspective on Bitcoin and proposed that they start mining together.
Shortly thereafter, the two set up amateur operations in a small industrial space they rented. And by June 2017, they had moved their operations to a former Alcatel (a former French telecommunications equipment company) factory Orvault, a small town outside of Gouspillou’s home town of Nantes.
The Early Days Of BigBlock Datacenter
At this point, Gouspillou and Augusti had formally incorporated BigBlock Datacenter and began receiving funding from outside investors.
The facility in Orvault was their first operation, while the second one was in Odessa, Ukraine. What the two locations had in common was access to cheap power.
In Odessa, Gouspillou and Augusti had a container with 200 S9 ASIC miners that they maintained on their own.
“The operation was very small compared to what we have now, but, at that moment, it was very big to us because we were alone to do the work,” recalled Gouspillou.
Aside from the technical challenges that came with learning how to operate a bitcoin mining farm, Gouspillou and his partner ran into other hurdles, as well.
“It was very difficult to work in Ukraine at that time, because people in Europe and in the banks used to say, ‘Are you crazy? It’s a terrorist state — there’s only mafia in this country,’” recalled Gouspillou.
As it turned out, the bad guys in the country didn’t just include members of the mafia but corrupt government officials, as well.
“We had big issues with the government, particularly the Secret Service, the SBU,” said Gouspillou.
“They came one day to seize our farm, and we got shut down for three months. We negotiated and gave them eight bitcoin. That was the price to let us work,” he added.
“Soon after we reconnected the ASICs, though, it was too late. The price of electricity had doubled. So, we left to go to Kazakhstan by 2018.”
Gouspillou and Augusti were two of the first foreigners to begin mining in Kazakhstan. They set up shop on the same lake as Valery Vavilov, founder and CEO of Bitfury, and his team and mined there before falling victim to another shakedown.
“We lost a lot of machines in Kazakhstan,” said Gouspillou.
“The mafia took the machines, and then they sequestered me overnight after a meeting and asked me to buy the machines back from them,” he added.
“Between this and the price of bitcoin crashing in 2018, I lost 20 kilograms in one year.”
Gouspillou and his partner left Kazakhstan soon after to set up a small operation in Siberia, Russia (which has become even smaller in recent years).
Gouspillou remembers well the toll that all of this took not only on him but on his family, as well.
“My wife said, ‘Why don’t you change your work? Why don’t you return to a normal job? Your fucking bitcoin is destroying us,’” he recalled.
“I was in my late 40s, not very young, and maybe it was not the right moment to be taking so many risks,” he added.
“But I didn’t want to stop. Jean-François and I continued to be very confident about the price of Bitcoin rising again one day.”
Opportunity In The Congo
By 2019, rise again it did, alleviating some of Gouspillou’s financial pain in the process.
“The price saved us because we had the capacity to pay back our investors for some ASICs we lost because of the mafia,” said Gouspillou.
Gouspillou and Augusti were able to buy a new fleet of ASICs while the price of the machines was very low, which helped to make their operations very profitable moving forward, especially as the 2020 bitcoin bull run accelerated.
And the winds of fate really shifted when Gouspillou first met Prince Emmanuel de Merode of Belgium, a conservationist and anthropologist who works to protect Virunga and establish peace in the DRC.
“In 2020, he asked me to create a mining farm in Virunga,” said Gouspillou.
“It was the best moment of the life of the company, because we became profitable on our facilities around the globe and well-known when we took this opportunity in Virunga,” he added.
“Before Virunga, we were mining. With Virunga, we implemented mining that was socially useful.” (More on how mining in Virunga is “socially useful” later in the piece.)
This isn’t to say that starting the farm in the Congo was easy, though.
Gouspillou described how there’s been fighting in this region long before he and Augusti brought their first container of ASICs there, and the fighting has only intensified since.
“I am supposed to go to Virunga next week, but I have to wait because there is a deep war in this region at the moment,” explained Gouspillou.
Despite the conflict, Gouspillou, Augusti and the two other team members that founded the Virunga farm have had notable success in the region. They started with two containers filled with 700 ASIC S9s. These machines have been powered by hydroelectric energy from a plant on the Luviro River, close to Ivingu, since that time.
Mining bitcoin with a low cost of electricity in the region quickly made the operation profitable, which not only made Gouspillou’s investors happy but Prince de Merode, as well.
Prince de Merode had invited Gouspillou and his team to Virunga to aid his work in preserving the park. The arrangement looked like this: Initially, Gouspillou and his team brought in two containers — one owned by BigBlock Datacenter and one owned by the park. BigBlock Datacenter paid the electricity costs for their container but managed both. (Now, there are 10 containers in the park, seven owned by BigBlock Datacenter and 3 owned by the park.)
The profits from the bitcoin mined by the park went/go to the park to help preserve it. The mining farm also began employing locals who would otherwise have to resort to burning trees in efforts to produce coal that they could sell.
The benefits of establishing this plant in the region are illustrated in a short documentary Gouspillou showed at Adopting Bitcoin El Salvador 2023 (1:29-7:05 in the following video):
More recently, Gouspillou and his team realized that they could use the heat produced from the mining to dry fruits as well as cocoa beans, which are used to make chocolate.
While the mining farm currently employs 15 people full time, the fruit and cocoa drying efforts have created another 50-60 part-time jobs for those living around the farm. Gouspillou sees the potential for these operations to scale up in the near future.
“With the fruits, we can imagine creating 100 to 300 jobs for people,” he said.
But in the breath after Gouspillou discussed the potential in the region, he also touched on the hardships, some of which have both been heartbreaking and have made scaling difficult.
Hardships
Since the onset of operations in the DRC, Gouspillou has lost a number of team members to both violence and acts of God.
One young man named Moise was killed and washed away in what Gouspillou described as “a rush of water that came down from the mountains.”
(Gouspillou and his team also had to repair the many ASICs that were damaged during this event, many of which were new S19s.)
Then, in another tragic event just six weeks later, members of his team were ambushed, resulting in five deaths.
He described the situation mournfully:
“When the team members leave the farm to go back home, one of their options is to take a plane from the park,” he began.
“But sometimes they don’t have enough gas or kerosene, so we have to take a car 30 kilometers to get to a small airport in the jungle, and the road we have to take is dangerous,” he added.
“One of our technicians, the wife of the cook at the farm and the three others in the car were killed by the Mai-Mai (a rebel group in the region).”
Gouspillou and his team took these deaths hard. The technician, a young man named Jones who was also a manager at the farm, had been with the team for four years.
“He started at the lowest level and in three years became the boss of the farm,” said Gouspillou.
“We were very close to him. I knew him very well since the beginning; I hired him,” he added.
What is more, Prince de Merode has lost upwards of 30 rangers from his team that protect the farm due to violence over the course of the four years the farm has been up and running (and 200 since Prince de Merode has been the head of the park).
The violence is something that never gets easy to deal with, according to Gouspillou.
“You have something like 300 different gangs in the region,” he said.
“When we started in 2020, Emmanuel told us it had gotten calmer as compared to previous years. However, since then, it’s gotten worse every year,” he added.
How Bitcoin Mining Transforms Regions In Africa
Despite the challenging circumstances, Gouspillou remains optimistic. He’s seen the positive effects Bitcoin mining has had not just in the DRC, but next door in the Republic of the Congo, where Gouspillou and his team now operate, as well.
BigBlock Datacenter has built one of their newest facilities in Liouesso, a town in the north of the country. In this region, there’s hardly any industry, in part due to a lack of electrification, but that’s changing due to the mining operations.
“When you give money to the producer of electricity, you change the life of a region,” Gouspillou explained.
“In the town, they have a 20 megawatt power plant, but they only use two to three megawatts to feed the town. So, we built a 12 megawatt farm there,” he added.
“For the electricity provider, this is very important. We are a big client for him. He can now pull the lines to bring electricity to some small village because he has some money.”
The effect that Gouspillou described is the same as what’s happening in Kenya, Botswana and Malawi, the countries in which Gridless, another Bitcoin mining company, operates. Like BigBlock Datacenter, Gridless purchases excess power from hydroelectric power plants in rural Africa, giving energy providers a new stream of revenue, allowing them to expand their operations further into the countryside. This process gives some African communities access to electricity for the first time.
Gouspillou described how it’s virtually a no-brainer to take advantage of this excess power, as many hydroelectric plants in Africa are built to produce more power than they’re capable of dispensing.
“You have so many big hydro power plants, and they don’t have the lines to distribute this electricity,” said Gouspillou.
“In Cameroon right now, a big dam built by EDF (Électricité de France, France’s national power company) produces 80% more electricity than it distributes,” he added.
“When you create a big power plant, it’s normally too big — wherever you build it — because there’s no benefit to building too small. Building a 200 megawatt plant costs doesn’t cost double what building a 100 megawatt plant costs.”
Gouspillou went on to describe how he advised Nemo Semret, the first Bitcoin miner in Ethiopia, who now helps oversee the country’s large-scale, state-sponsored mining operations.
“I gave him some advice on how to make mining containers four years ago, and now the country is mining with 600 megawatts,” Gouspillou said. “There’s huge potential for expansion there, too.”
Beyond furthering the electrification of rural Africa, Gouspillou’s mining efforts are having other notably positive impacts on their surrounding communities, as well.
Community Impact
BigBlock Datacenter’s new farm in Liouesso currently employs 15 full-time technicians and 10 service staff including cooks, assistants, laundry staff, cleaning and grounds maintenance staff and drivers. And it plans to launch operations for fruit drying in the second half of 2025.
“There we have enormous drying capacity: enough to employ over 100 people,” Gouspillou noted.
More than providing community members with jobs, though, Gouspillou and his team have made other investments in the community.
A number of employees for the main farm in the DRC have children who attend a school in the region, which is five kilometers from the farm’s camp. BigBlock Datacenter has provided a Toyota bus to ensure school bus service since the first set up operations there.
The children and teachers once walked this distance every day.
To help lessen this burden, Gouspillou first lent the community members his car so that they could drive the distance instead of walking it. And, more recently, he’s brought in a bus to help transport the community’s residents to and from the school in larger numbers.
Furthermore, BigBlock Datacenter has also made improvements to the school itself.
“They did not have electricity in the classrooms, so we installed it,” said Gouspillou, who added that they’ve also financed the repainting of the school.
“These are very cheap investments and they make a big difference for the teachers and students,” he added.
Aujourd’hui, visite de l’école primaire.
y’a d’la joie. https://t.co/CIxiZw7BAJ pic.twitter.com/arUeBc5nji— Seb Gouspillou (@SebGouspillou) January 15, 2025
Translation: “Today, a visit to the primary school. There is joy.”
Gouspillou contextualized his contribution by sharing that other companies that have come to the region have made similar investments for selfish purposes, seemingly trying to downplay his contribution.
“Oil companies do it, too, because they have to compensate for the pollution they create by doing good deeds,” he explained.
The difference with BigBlock Datacenter is that it doesn’t burn gas or pollute the environment. It mines bitcoin using renewable energy. So, as I understand it, Gouspillou and his team are giving back because they think it’s the right thing to do.
It became clear to me that he’s developed deep bonds with the team members originally from the region as he shared a story about two of them who’ve done extraordinary work. Gouspillou refers to these two team members, Patrick Tsongo and Ernest Kyeya, as two of “the real heroes from Virunga.”
“Ernest has been the manager of the Virunga farm, and Patrick his second in command,” said Gouspillou.
“We employed them four years ago when they were 23 years old. Now they have the capacity to create a farm. They have the capacity to repair ASICs, which is valuable because even if our machines are under warranty, we can’t send them back because the chances they will get stolen in transit are high,” he added.
“They have the capacity to repair all kinds of issues. I think they are the best technicians in the mining world now.”
Ernest and Patrick are now launching the new farm in the Republic of the Congo, and they recently left the DRC for the first time in their lives to do so.
“Three months ago, we went to Pointe-Noire, a port by the sea in the Republic of the Congo, and it was the first time they saw the sea,” said Gouspillou. “They’re so grateful.”
Gouspillou also mentioned that they’ve become tried and true Bitcoiners, as BigBlock Datacenter has given them a bitcoin bonus each year, some of which they’ve held onto and used as it’s appreciated.
“At the beginning, they used to sell it,” said Gouspillou.
“However, they recently bought land with the bitcoin they’ve saved. So, now they’re crazy about Bitcoin. They love it,” he added.
The Future Of BigBlock Datacenter
Moving forward, Gouspillou and his team plan to continue to expand their operations globally.
They currently have mining projects in five African countries as well as others in Paraguay (where Gouspillou says it’s difficult to work because of the mafia presence in the country), Finland, Oman and the small one in Siberia they started years ago.
“We were the first miner in Oman, and I was the guy who convinced the government to start mining,” explained Gouspillou. “We started with two containers, and now the country has big miners with facilities that can mine with up to 300 megawatts.”
They also moved their headquarters to El Salvador six months ago, where they are incorporated as BigBlock El Salvador.
While Gouspillou and his team can likely expand anywhere from here, he shared that he prefers to focus on growing their operations in Africa, as he is most excited about what his team is working on in the Republic of the Congo right now.
Toward the end of my interview with Gouspillou, when I asked him how it feels to see his company grow to the point it has after starting the process in his late-40s, he chuckled before responding with the following:
“Maybe I was a little bit too old, but we had time to build something solid. Now, it’s only pleasure with this business.”
President Trump’s controversial memecoin took the crypto world by storm, but not everyone thinks it’s a good idea.
UNUS SED LEO is a cryptocurrency token that has gained attention for its unique features within the digital asset realm. Investors exploring the world of cryptocurrencies may find it worthwhile to understand the potential advantages offered by UNUS SED LEO.
By delving into the specifics of this token, individuals can gain insights into how it may influence their investment strategies.
Exploring the intricacies of UNUS SED LEO could provide a deeper understanding of its impact on financial endeavors, offering a more nuanced perspective on its utility and potential benefits.
Key Takeaways
- UNUS SED LEO is a utility token designed for Bitfinex users, offering fee reductions and various benefits within the iFinex ecosystem.
- The token’s value and benefits are supported by mechanisms like buyback and burn, aiming to maintain token value and provide potential value appreciation.
- Investors should carefully evaluate the advantages and drawbacks of LEO, considering factors such as market fluctuations, buyback strategy effectiveness, and economic uncertainties.
- Acquiring LEO tokens involves purchasing them on platforms like Bitfinex, unlocking discounts and services within the iFinex ecosystem, but users must also prioritize secure storage and beware of potential scams.
What is UNUS SED LEO?
UNUS SED LEO is a cryptocurrency token designed by iFinex, offering Bitfinex users discounts and benefits.
How LEO operates, its advantages, and potential drawbacks are crucial points to consider.
Understanding the history, functionality, benefits, and risks of UNUS SED LEO is essential before deciding to invest.
A brief history of UNUS SED LEO
UNUS SED LEO, also known as LEO, was introduced in 2019 by iFinex, the parent company of Bitfinex and Tether. The token was launched through a private sale that raised $1 billion, indicating strong support from initial investors.
LEO tokens were primarily created to offer benefits and discounts to users of the Bitfinex platform, such as reduced fees and access to lending and borrowing services. The history of UNUS SED LEO showcases a strategic approach to improving the trading environment and building a comprehensive ecosystem for token holders.
How does LEO work
LEO was created as a strategic utility token within the iFinex ecosystem, primarily for Bitfinex users. It offers practical benefits and fee reductions to token holders. These perks include savings on Bitfinex commissions, monthly discounts based on token holdings, and fee reductions on withdrawals and deposits.
The token operates on a buyback and burn mechanism, which adds a deflationary aspect by iFinex purchasing LEO tokens monthly using a significant portion of company profits. This mechanism aims to sustain the token’s value over time.
Benefits of UNUS SED LEO
UNUS SED LEO (LEO) offers practical benefits within the iFinex ecosystem by providing fee reductions and lending services on Bitfinex. Holding LEO tokens can lead to reduced trading fees, discounts on lending fees, and potentially lower withdrawal and deposit fees. Token holders may also access tiered benefits based on their LEO holdings.
The company actively repurchases LEO tokens, which could contribute to potential value appreciation over time. These benefits could be advantageous for both active traders seeking fee savings and long-term investors looking for potential returns within the iFinex ecosystem.
Drawbacks of UNUS SED LEO
Investors should exercise caution when considering UNUS SED LEO (LEO) as an investment due to its vulnerability to market fluctuations and the possibility of diminishing utility over time. While LEO’s buyback and burn strategy aims to enhance scarcity and value, it may not always insulate the token from the effects of financial crises.
Transparency in the execution of the buyback process is crucial to maintaining investor trust, as inconsistencies could raise concerns about the long-term viability of LEO.
Economic uncertainties could also expose investors to risks associated with the reliance on LEO tokens, as fluctuations in demand and supply may impact the token’s value.
What is the LEO token?
LEO tokens are the utility tokens within the iFinex ecosystem, offering discounts on Bitfinex commissions and other benefits to its holders.
Wondering about tokenomics and how to acquire LEO tokens? Let’s explore these points further to deepen your understanding of this crypto asset.
Tokenomics
The UNUS SED LEO (LEO) token functions as a utility token within the iFinex ecosystem, offering users various benefits. iFinex conducts token burns on LEO tokens, with at least 27% of the company’s profits allocated for this purpose on a monthly basis. This strategy aims to manage the token supply effectively and potentially enhance its value over time.
LEO holders receive perks such as reduced trading fees on Bitfinex, monthly discounts based on their token holdings, and cost savings on withdrawals.
The value of the LEO token is closely linked to the performance and profitability of Bitfinex, emphasizing the importance for users to monitor both the exchange’s activities and market dynamics to optimize their advantages as LEO holders.
How to buy LEO tokens?
To acquire LEO tokens, also known as UNUS SED LEO and issued by iFinex, individuals can purchase them on platforms such as Bitfinex. These tokens are compatible with Ethereum and EOS blockchains, offering benefits such as reduced fees and access to lending/borrowing services.
To buy LEO tokens, users need to register on Bitfinex, deposit funds, locate the LEO trading pair (e.g., LEO/USD) on the trading page, and place a buy order.
Once the tokens are bought, users can take advantage of the discounts and services offered within the iFinex ecosystem, enhancing their trading activities on platforms like Bitfinex and EOSfinex.
Is LEO token a good investment?
UNUS SED LEO (LEO) token presents an interesting investment opportunity due to its role as a utility token within the iFinex ecosystem. LEO offers benefits such as fee reductions and advantages for Bitfinex users, acting as a marketplace token for transactions on Bitfinex and EOSfinex.
Its compatibility with Ethereum and EOS blockchains further enhances its utility as a bridge between these platforms. Additionally, LEO’s deflationary mechanism, achieved through token burns, aims to create scarcity and potentially increase its value over time.
Investors considering LEO should take into account its benefits like fee reductions, dual blockchain compatibility, and security features such as the buy-back option.
However, it’s essential to be aware of potential risks associated with market volatility and the evolving nature of its utility. While UNUS SED LEO demonstrates promise with its unique features and positive market trends, a cautious evaluation of its long-term sustainability is advised before making an investment in the LEO token.
Frequently Asked Questions
What Is the Price Prediction for Unus Sed Leo?
Conduct thorough research, seek advice, and analyze trends before investing. Balance potential gains with market risks. Your diligence shapes your success in navigating crypto seas.
Unus Leo Is Current price?
The current price of UNUS SED LEO is $5.71 with +3,78% in the last 24 hours.
Where Does Unus Sed Leo Come From?
Originating from iFinex, the parent company of Bitfinex and Tether, UNUS SED LEO (LEO) tokenizes with benefits for Bitfinex users. With a name meaning ‘one, but a lion,’ LEO roars with discounts, lending services, and compatibility with Ethereum and EOS blockchains.
What Does Leo Crypto Do?
Leo crypto offers fee discounts and benefits to Bitfinex users. It’s compatible with Ethereum and EOS blockchains, providing unique features like fee reductions and lending services. Consider market risks and benefits before investing.
Conclusion
UNUS SED LEO (LEO) is a cryptocurrency token that operates within the Bitfinex trading platform. LEO tokens offer users benefits such as reduced trading fees and access to lending services on Bitfinex.
Investors may find potential growth opportunities and rewards by holding LEO tokens. By utilizing LEO, users can optimize their trading experience and potentially enhance their investment strategies.
It’s important for individuals considering LEO to conduct thorough research and assess the token’s utility within the Bitfinex ecosystem before making investment decisions.
Other Cryptocurrencies to check
Byte Crypto, Metacade Crypto, Galaxy Fox Crypto, Birdies Crypto and Coreum Crypto.
Angel Marinov is the Managing Editor at Coinlabz. With extensive knowledge of crypto payments and blockchain use cases, Angel is a trusted source of accurate and timely information
In this article, we will analyze why Trump’s victory might be the most significant event in cryptocurrency history.
Two weeks after surviving an assassination attempt, Trump addressed a Bitcoin conference, declaring the U.S. would become the world’s cryptocurrency and Bitcoin capital. He announced that the U.S. government would never sell a single Bitcoin, that pro-crypto regulations would be implemented, and most notably, that the U.S. would establish strategic Bitcoin reserves, modeled after existing gold and oil reserves.
Pro-crypto politics significantly contributed to Trump’s victory, especially given that the crypto community is younger, tech-savvy, urban, and, by definition, has historically leaned toward Democrats. Key figures in his administration, including Elon Musk, Vivek Ramaswamy, J.D. Vance, Scott Besant (Treasury Secretary), Paul Atkins (SEC Chair), and RFK Jr., are pro-business and pro-crypto.
With such monumental promises and even greater expectations, all the ingredients for a significant bull run in the cryptocurrency market seemed to be present. But when something appears too certain, is it always the case?
However, history teaches us that when market expectations are high, the actual outcome may not always meet those expectations. Many investors have already taken long positions, effectively betting on the anticipated outcome.
While short-term considerations like historical price movements and the time elapsed since the last Bitcoin halving are relevant, this analysis will explore a different perspective: that Trump’s victory ushered in a new era where existing market paradigms no longer fully apply.
1. Bitcoin ETFs
The approval of Bitcoin ETFs in January 2024 allowed Wall Street and institutional investors to enter the Bitcoin market, previously inaccessible. Bitcoin ETFs have become the fastest-growing ETFs in history. BlackRock’s Bitcoin ETF amassed more assets in less than a year than its Gold ETF did in two decades. Ethereum ETFs followed suit, and discussions regarding Solana and XRP ETFs gained traction.
2. Bitcoin in Corporate Treasury Strategies
An increasing number of companies are incorporating Bitcoin into their treasury strategies to preserve capital. These strategies aim to: Outpace inflation, measured by the Consumer Price Index (CPI). Outperform the S&P 500, which historically averages a 10% annual return. Bitcoin’s average annual growth of 100% over the past decade has made it a standout asset for capital preservation. No other asset has exhibited such rapid growth over this period.
3. Strategic Bitcoin Reserves
A key factor hinges on creating strategic Bitcoin reserves. Even after his election, Trump reiterated his commitment to this initiative. These reserves would serve two primary purposes for the U.S. government: To profit from Bitcoin’s value appreciation, driven by its capped supply and the increasing money supply.
Historically, the value of Bitcoin tends to rise with the decline in the value of the dollar. For the maintenance of U.S. global dominance into a future where the digital economy is dominated by cryptocurrencies and CBDCs, drawing a parallel to the Bretton Woods Agreement of 1944, wherein the U.S. amassed huge stores of gold reserves before establishing the dollar as a global reserve currency, Bitcoin reserves could be the way toward a new global financial order.
If the U.S. creates Bitcoin reserves, other countries will also have to follow suit in order not to be left behind in the new digital economy. Much as countries keep gold reserves today, the reason would be as a hedge.
4. Crypto Regulation
Then there’s the promise that the U.S. government is going to roll out friendly crypto regulation, particularly about stablecoins. While the broad EU Markets in Crypto Assets Directive has been an excessive drag, it prevents promising crypto projects. This leaves the door ajar for the U.S. to become the crypto capital of the world.
Conclusion
Trump’s victory likely catalyzed the largest bull run in cryptocurrency history. This marks a whole new era for the industry. Cryptocurrencies have become part of national strategic reserves, corporate treasury strategies, and a globally accepted asset class.
But the greater danger lies in Trump’s potential inability to deliver. He might deliver in a manner that the market did not expect. Even with anticipated delays or broken promises, the longer-term direction for cryptocurrencies seems firm. This trajectory appears independent of American leadership. Other countries, such as BRICS nations, might take leading roles in the evolving financial system.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
BitconeMine simplifies cryptocurrency mining with AI-driven cloud solutions, offering secure, hassle-free passive income opportunities.
Cryptocurrency mining is one of the most popular trends in 2025. BitconeMine simplifies the entire cumbersome mining process and adopts a mining package contract model to achieve mutual benefit and win-win for users. Unlike traditional mining, users do not need to invest in expensive equipment and professional technology to manage and operate mining machines in advance. They only need an electronic device to remotely control and participate in mining. BitconeMine provider provides a safe, reliable, and transparent simple platform that makes it easy for everyone to understand and focus more on returns.
Current cryptocurrency mining is usually costly and requires technology, expertise, advanced equipment, and high electricity consumption to support the operation of current mines. BitconeMine integrates ASIC mining equipment through an AI intelligent system to improve performance and efficiency, reduce hardware costs, and greatly improve output benefits. It lets each participant get more benefits from the system.
For those looking for ways to earn passive income from the cryptocurrency market and keep it stable, BitconeMine is a smart choice, with a fixed income of $700-30,000 per day
BitconeMine advantages
BitconeMine has changed the rules of the game. Participants only need to register as BitconeMine users to get $10 for free mining without any handling fees. BitconeMine has advanced algorithms and superb mining technology, which can guarantee profitability even in the volatile cryptocurrency market.
BitconeMine features
Before purchasing a mining contract, users can clearly see each contract cycle and income, such as:
Contract Price
Contract duration
Daily income
Total revenue
$100
2
$4.5
$100+$9
$500
5
$6.5
$500+$32.5
$1000
12
$14
$1000+$168
$3000
15
$45
$3000+$675
$5000
20
$77.5
$5000+$1550
BitconeMine does not charge any fees, administration fees, or operating expenses. Personal information is protected by SSL encryption, and all mining investments are covered by L&G insurance.
Why BitconeMine
BitconeMine shines thanks to its AI-driven cloud mining model, which operates in a hassle-free business manner and has attracted more than 3,000,000 active users worldwide.
“BitconeMine enables people to participate in the cryptocurrency revolution without any restrictions,” said John Smith, CTO of BitconeMine. “Our support is to enable users to maintain long-term stable returns in a simpler and more efficient way to make money.”
Transparency and security at the core
BitconeMine takes user security very seriously by employing a multi-layered identity authentication process and advanced encryption technology. The platform guarantees full transparency and precise terms of each mining contract. The real-time dashboard provides comprehensive insights into mining activities, payment schedules, and performance data, which users can easily access to increase confidence in every transaction.
In a nutshell
BitconeMine is committed to staying at the forefront of the cryptocurrency business as it continues to gain recognition as a mainstream asset class. With its low initial cost and huge profit potential, now is the best time to explore the world of cloud mining.
To start earning passive income with BitconeMine, visit the official website.
Users can also check out the 24×7 online customer service or send a mail to the company’s corporate email at [email protected].
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
TL;DR
- Analysts predict XRP could rise to a new all-time high if key support levels hold, with possible pullbacks to $2.80 or $2.50 seen as buying opportunities.
- A favorable resolution in the Ripple v. SEC case and the potential approval of an XRP ETF in the U.S. could drive the asset’s price higher, with optimism fueled by the changes in the SEC leadership.
Is $10 Possible?
Ripple’s XRP has been flying high ever since Donald Trump’s victory in the US presidential elections. Prior to the vote, the asset’s price hovered around $0.50, but currently, it is worth $3.20 (per CoinGecko’s data). This represents a whopping 540% increase, with many analysts expecting further gains in the following months.
One of the people touching upon the matter is the popular X user Michael van de Poppe. He told his over 750,000 followers on the social media platform that a potential price plunge to $2.80 might serve as an optimal entry point. He also claimed that an eventual rise to $10 per coin is not out of the question.
EGRAG CRYPTO chipped in, too. The analyst envisioned a possible retest of $2.83 and a drop to $2.50, “which is normal.” In general, though, the trader remains bullish, predicting the price to reach new dimensions if it breaks above $3.40.
Recall that XRP almost hit that target on January 16. As CryptoPotato reported, it spiked to as high as $3.39, standing just 1% away from its all-time high registered at the beginning of 2018.
The Bulls Are Waiting for These Developments
One of the most important factors that could positively impact the price of XRP is the final resolution of the Ripple v. SEC lawsuit (assuming it benefits the firm). Just a few days ago, the agency’s former Chairman, Gary Gensler (considered a huge enemy of the digital asset sector), resigned and was succeeded by the pro-crypto Mark Uyeda.
This has infused enthusiasm across the XRP Army that the case might conclude with a favorable resolution for Ripple soon. The popular American lawyer John Deaton also shares that thesis.
He claimed there are three possible scenarios for the case after Gensler’s departure. The most likely includes dismissing the SEC’s appeal of the 2023 verdict set by Judge Analisa Torres. Back then, the magistrate ruled that XRP sales on public exchanges to retail investors did not constitute securities transactions.
However, Deaton thinks Ripple will have to pay the previously ordered $125 million penalty for violating certain rules. The fine shouldn’t be a problem for the company since some execs already promised to abide by the rules. It also represents just a fraction of the $2 billion the securities regulator initially requested.
The potential launch of an XRP ETF in the United States may also trigger upward pressure on the price of the underlying asset. A few weeks ago, Monica Long (Ripple’s president) said that such a product was “likely to be next in line.” According to Polymarket, there is a 64% chance that the investment vehicle will see the light of day before the end of 2025.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
The XRP price is in the spotlight again, as a crypto analyst has shared his short—to long-term prediction for the third-largest altcoin. While the asset has experienced a series of bullish events that have driven its price to its current level, the analyst strongly believes that the cryptocurrency can jump even higher to reach $20.
XRP Long To Short Term Price Prediction
According to a crypto analyst identified as ‘XRP Meesku’ on X (formerly Twitter), the XRP price is gearing up to skyrocket to a new long-term ATH target of $20. The analyst’s bullish outlook for the token stems from its innovative potential, as advanced developments and technological advancements tend to drive price surges in a cryptocurrency.
Related Reading
Notably, the analyst revealed that there has been ongoing speculation that XRP could be pivotal in national banking. He highlighted that many discussions have arisen suggesting that the altcoin could be used as a potential base layer for the United States (US) banking system. If this happens, it could fuel significant growth and adoption for XRP, potentially positioning it as a “global asset that is gaining traction.” Moreover, it could trigger a price increase of $20 ATH for the altcoin.
In the mid-term time frame, XRP Meeksu predicts that the altcoin could potentially hit $8 first before attempting to break past its cycle top. He reveals that his optimistic outlook for XRP was influenced by factors such as new financial products like futures and the ongoing legal challenges with the US Securities and Exchange Commission (SEC). Based on his analysis, the crypto expert suggests that resolving these issues could spark a price rally.
Finally, the analyst shared a short-term price forecast for XRP, highlighting that altcoin is expected to experience significant volatility, leading to price fluctuations. Due to its sharp growth potential, he predicts a surge to $3.6 or higher was possible. Moreover, the X market expert mentioned the increase in significant liquidation trends, underscoring that traders may take a long position after being forced to close due to market fluctuations.
Bullish Factors Driving The Price Surge
While the XRP Meeksu shares his long- to short-term bullish prediction for the XRP price, the analyst also outlines several bullish activities that could drive a potential surge in the cryptocurrency. According to the crypto expert, the XRP market has seen a lot of activity lately, with the price stabilizing despite spikes in whale activity.
Related Reading
Looking at the asset’s past performances, the analyst mentions a notable transfer of $62 million to various crypto exchanges — a movement that could potentially be seen as a sell signal for strategic whale repositioning. Moreover, the CME Group has hinted at launching XRP futures, paving the way for institutional adoption and engagement in the cryptocurrency.
Furthermore, the analyst delved deeper into the lawsuit between Ripple and the SEC, highlighting discussions about potential settlements and the conclusion of the almost four-year legal battle. Despite the lawsuit drama, the crypto expert disclosed that XRP’s overall sentiment remains bullish as analysts project more growth in the future.
He revealed that XRP is showing signs of a price recovery and could soon hit new ATHs. Moreover, its community remains vibrant and active, sharing updates about ongoing scam threats, key events, and more.
Featured image from Adobe Stock, chart from Tradingview.com
Many participants in industry hackathons are just looking to make some quick prize money and move on to the next contest — Dominic Kwok calls them “bounty hunters.”
But EasyA, the start-up for developers that he and his brother Phil started four years ago, is looking for a different type of competitor — those who are looking to build companies that can have a significant impact on Web3. It’s an approach that has proved fruitful, with the companies coming out of EasyA’s app community and monthly in-person hackathons having raised money at a collective valuation of over $3 billion from top VC firms such as a16z crypto and CMT Digital. And EasyA’s mobile app, which helps developers easily start building their own Web3 projects, has over a million users worldwide.
At the first EasyA Consensus hackathon in Austin last May, more than 700 participants launched 100 different crypto projects, and the Kwoks are expecting similar numbers for upcoming events at Consensus Hong Kong and Consensus Toronto (if you’d like to apply for the EasyA Hackathon at Consensus Hong Kong 2025, please go here).
Here they discuss why their unique approach to hackathons, how they expect Consensus Hong Kong will differ from hackathons in other parts of the world and how Donald Trump’s election could affect the types of projects crypto developers focus on.
This series is brought to you by Consensus Hong Kong. Come and experience the most influential event in Web3 and Digital Assets, Feb.18-20. Register today and save 15% with the code CoinDesk15.
This interview has been condensed and lightly edited for clarity.
How did EasyA get started?
Dominic: So we originally launched EasyA about four years ago as the go to place for anyone to learn about the world’s best blockchains. Anyone can use the EasyA app on iOS and Android to learn about the top Layer Ones out there, like Solana, Polkadot, Stellar and Ripple’s XRP Ledger. And people can learn how to not only develop, but also launch their own projects. We also host a lot of big hackathons in person all around the world, in which hundreds of people come in person and launch projects on our blockchain partners. And the goal is to get these people not just launching, but then also founding and building startups that go on to get funded by the ecosystem and VCs.
How do you approach hackathons differently than other companies that run these?
Dominic: Two things. The first is that EasyA is very focused on founders who want to start their own companies, versus hackathon “bounty hunters.” We really want to make sure that our participants actually stick around and build their projects because that’s where we see the future of Web3 really being built from. And the second thing is most of our hackathons are single chain, so participants focus on one piece of tech and they actually launch on that one, as opposed to focusing on 50 different chains. We want to put people in front of the best ecosystems that have the most support for developers.
How do you think the Consensus hackathon in Hong Kong will be different from those you hold in other parts of the world?
Dominic: The scale is just going to be super big. We’ve already had a record number of people apply for the seats in the arena. We’ll obviously have people from Hong Kong, but then also from other Asian countries like India, Indonesia, Vietnam, Malaysia, Singapore and China. And we’re also seeing huge numbers of people from the West want to come. For many of those people, it’ll be the first time they’ve actually been to Asia.
Do you expect there to be differences in the types of projects that developers in Asia pursue, as opposed to those in other parts of the world?
Phil: There’s a geographical element and then there’s also a thematic one. A huge theme that we’ve seen come up over the past couple of weeks is AI x Web3, and a lot of developers are excited about that intersection. We’ve also seen protocols like virtuals really kick off and become very successful, so I think we’ll see a lot of that. Geographically, in Asia there are obviously so many different currencies, and we’re seeing that developers there actually understand those cross-border use cases a lot better. If you’re a U.S.-based developer, you don’t necessarily see those friction points a ton. So I think that we’re going to see a lot more of the cross border payment solutions start to flesh themselves out.
How do you think Donald Trump’s presidency will affect the kinds of projects you see at your hackathons?
Phil: Obviously DeFi has always been one of the biggest areas of product market fit in crypto — arguably one of the few that actually has that fit. But so far because of, frankly, how scared a lot of developers were in the States, a lot of people just weren’t building nor launching in the U.S. And so you’d often go on to a decentralized app and it’ll say “Oh, you’re in the States, you can’t use this.” So that’s a very visible area where we’re going to start seeing changes. Another area where you can’t participate if you’re from the U.S. is airdrops. So if you are an end user, you couldn’t really access a lot of crypto. And if you wanted to target this demographic, which of course is the wealthiest in the world, you couldn’t. So I think DeFi is really going to explode, especially in the States.
Both of you are also speakers at Consensus Hong Kong. What will you be talking about?
Dominic: Our keynote will be about why it’s so hard right now for Web3 ecosystems to attract developers now. And we’re going to be giving some of our tips on how they can attract developers more easily and at a bigger scale. Right now, Web3 firms are competing over the same developers, and the growth of Web3 devs has pretty much stagnated. And obviously at EasyA, our whole mission is actually to bring way more developers into the space. That starts with making it easy. But we’re also making several big tech upgrades that will allow developers to build much more easily on-chain. And we’re going to be revealing those on stage.
The crypto market keeps shaping up for various possibilities in the first few weeks of the year. Some top coins are rediscovering form, while others are moving sideways due to market resistance. Pepe Coin (PEPE) has experienced both in the past month.
Meanwhile, 1Fuel has weathered the storm during its ongoing presale. With a new milestone of raising over $1.4 million, 1Fuel shines through the market and is attracting PEPE traders. Let’s find out why.
PEPE investors are worried after its recent performance
While the broader crypto market has been recovering from the initial dip for some weeks, PEPE has been shifting across the green and red zones. Initially, the PEPE price shot up to around $0.000021 at the start of the month. However, the PEPE price is now down to $0.000014 after almost an 18% price decline.
The PEPE price is sliding below key levels because the bears are back in control of the market. Technical indicators show a bearish sentiment among PEPE investors, and traders are now scratching their heads as their previous gains get eroded. However, some traders within the PEPE ecosystem are now switching to 1Fuel to salvage what’s left of their investments.
1Fuel presale reaches a new milestone
The 1Fuel presale has been causing waves in the crypto market as investors seek low-capcryptos with potential. The presale recently hit a new milestone of crossing $1.4 million with over 148 million tokens sold. The fast pace and strong success have caused some to tip it as the best crypto presale of the year.
Early 1Fuel investors are already winning as the presale progresses because of its guaranteed price increase. For instance, in the second presale stage, 1Fuel was worth $0.012, but the token’s price has now increased to $0.017. That’s about 40% gains in no distant time.
This has caused an optimistic feeling among investors, especially PEPE traders seeking opportunities to diversify their crypto portfolios and recoup some of their losses. With subsequent presale price increases, such investors can benefit from 1Fuel’s guaranteed short-term gains or take advantage of its long-term post-launch possibilities.
The 1Fuel Exchange will drive the project’s explosion
Besides its ongoing presale, which has been successful so far, 1Fuel has a solid roadmap that highlights its goals. The project’s major goal is to revolutionize the decentralized finance (DeFi) space with its top features.
One of these features is the 1Fuel Exchange, which brings complete decentralization to how people execute transactions. With the crypto exchange, traders can send digital assets across various blockchains without having to create multiple wallets.
For instance, you can send assets across Ethereum and Solana blockchains without having a wallet for both. That’s because of the cross-chain asset transfer that 1Fuel offers. The exchange executes the transaction at the backend, so you can enjoy quicker and cheaper transactions.
There’s also a peer-to-peer trading feature on the 1Fuel Exchange for those who want to trade assets directly with other people. This eliminates middlemen and their associated fees that make transactions more expensive. It also provides an extra layer of security, as traders can execute transactions privately.
Conclusion
While PEPE struggles with market resistance and bearish sentiments among its traders, 1Fuel promises both short and long-term gains to investors. If the early presale success is anything to go by, 1Fuel is poised to explode in the coming months.
If you missed the initial 1Fuel presale stages, there’s a limited-time opportunity to buy 1Fuel at $0.017 before the price increases in the next presale stage.
To Find Out More About The 1Fuel Presale Use The Links Below:
Website: https://1fuel.io/
Telegram: https://t.me/Portal_1Fuel
Twitter / X – https://x.com/1Fuel_
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
According to data from RWA.xyz, tokenized real-world assets (RWAs) currently have a market capitalization of over $16.6 billion.
With rising costs and Government policies adding pressure, retailers and consumers throughout Britain brace for a challenging start to 2025.
Consumer confidence in Britain has fallen sharply to -34 in January, down from -27 in December, as economic concerns deepen across the nation, new research has shown.
The downturn comes as major retailers face unprecedented challenges, with the UK potentially already entering a recession, according to a warning from Shore Capital.
They suggest the economy could be shrinking due to policies from Labour that have hurt growth. Consumer confidence has also dropped to its lowest point in a year, with people fearing job losses after the recent Budget.
Clive Black from Shore Capital said the UK might be in a “technical recession,” which happens when GDP shrinks for two consecutive quarters.
He added: “The Prime Minister and the Chancellor of the Exchequer have notably damaged the momentum of the UK economy since they came to power through their flawed messaging and policy announcements.
“The relief that the rotten Tories ‘went’ in 2024 has been replaced by a sense of extended agony, which is especially draining for participants in the UK economy.”
Consumer confidence in the economy is dropping
GETTY
Consumer confidence in Britain has fallen sharply to -34 in January, down from -27 in December, especially as unemployment rates have risen.
Retailers are facing an estimated £7billion surge in operational costs due to Budget changes including higher employer national insurance contributions and a new packaging levy.
Many businesses are now considering implementing price increases and potential job reductions in response to these rising costs.
As a result of this, the unemployment rate increased to 4.4 per cent in the three months to November, up from 4.3 per cent in the three months to October. The number of workers on payrolls dropped by the most since the peak of the pandemic, too – according to the ONS.
According to Robinhood UK analyst Dan Lane: “There’s a real worry that slowing growth in UK disposable incomes could have an outsized impact on lower-income households.”
The financial strain comes at a particularly challenging time, with retailers already grappling with reduced consumer spending due to high inflation and increased monthly budgets.
These mounting costs are putting pressure on already tight margins across the retail sector as Britons have less money to spend and save.
Consumer confidence is dropping, especially in stores that sell non-food items, which are facing lower spending and bad weather. Primark’s parent company, Associated British Foods, has lowered its sales growth prediction for 2025 after seeing a four per cent drop in UK sales from mid-September to January 4.
In the UK and Ireland, which make up 45 per cent of Primark’s total sales, sales fell by 6.4 per cent whereas US sales were up by 17 per cent and growth in parts of Europe.
Although sales were a bit better in December, the fall season was weak due to mild weather and low consumer confidence, ABF said.
LATEST DEVELOPMENTS:
Britain is also projected to face more frequent recessions in the coming years, with downturns potentially occurring every five years instead of the historical eight-year pattern.
Bloomberg Economics’ analysis reveals the UK’s trend growth rate has halved from 2.5 per cent to just 1.2 per cent, making the economy more vulnerable to shocks.
Dan Hanson, the chief UK economist said: “There are good reasons to think technical recessions will be more frequent in coming years than in the past.”
However, Hanson noted these more frequent technical recessions are unlikely to result in major economic downturns with surging unemployment.
GfK’s Consumer Confidence Index fell by five points to minus 22 in January, with all measures that make up the overall score down on last month.
UK economy faces threat of ‘stagflation’ after bumpy 2024GETTY
Neil Bellamy, consumer insights director at GfK, said: “These figures underline that consumers are losing confidence in the UK’s economic prospects.”
She warned the sharp increase is “unwelcome because it’s another sign that people see dark days ahead and are therefore thinking of putting money aside for safety.”
Helen Dickinson, BRC Chief Executive noted the public mood, stating: “As the Government warns of tough times ahead, it is little surprise that the public has caught the January blues.”
The pessimism is most pronounced among older generations, with two-thirds of Boomers (ages 60-78) expecting an economic downturn.
Labour Chancellor Rachel Reeves, speaking at Davos, emphasised the need to “turbocharge the economy” through infrastructure projects and planning decisions.
Reeves highlighted historical issues, noting: “That’s been the problem in Britain for a long time. That when there was a choice between something that would grow the economy and sort of anything else, anything else always won.”
Crypto czar David Sacks likens Trump’s memecoin to a ‘baseball card’
Guehi shares The Traitors tips before final
It’s still Trump’s first week in office, and Elon Musk’s DOGE has already lost two key players
-
Fashion8 years agoThese ’90s fashion trends are making a comeback in 2025
-
Entertainment8 years agoThe Season 9 ‘ Game of Thrones’ is here.
-
Fashion8 years ago9 spring/summer 2025 fashion trends to know for next season
-
Entertainment8 years agoThe old and New Edition cast comes together to perform You’re Not My Kind of Girl.
-
Sports8 years agoEthical Hacker: “I’ll Show You Why Google Has Just Shut Down Their Quantum Chip”
-
Business8 years ago
Uber and Lyft are finally available in all of New York State
-
Entertainment8 years ago
Disney’s live-action Aladdin finally finds its stars
-
Sports8 years ago
Steph Curry finally got the contract he deserves from the Warriors
-
Entertainment8 years ago
Mod turns ‘Counter-Strike’ into a ‘Tekken’ clone with fighting chickens
-
Fashion8 years ago
Your comprehensive guide to this fall’s biggest trends
You must be logged in to post a comment Login