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Sam Altman’s Worldcoin ($WLD) has lost about 98% of its value, turning a $100,000 investment at its peak into roughly $2,000.
The project’s “Orb” device, which scans irises in exchange for tokens, raising concerns about permanent biometric data collection and consent—echoed by Edward Snowden and researchers like MIT. It highlights regulatory pushback and bans across multiple countries. Some are pointing out that the project’s team of selling large amounts of tokens while supply increases, contributing to price decline, and portrays broader ethical and legal concerns around the project.
Bitcoin is breaking...
BTC is pushing higher. The long-standing downtrend line has broken, and price is now trading well above the 100-day by a margin not seen in a long time. A clean close here or higher, and things could get very squeezy for a largely forgotten BTC. Source: TME, LSEG
In case you missed it... Iran will demand that shipping companies pay tolls in cryptocurrency for oil tankers passing through the Strait of Hormuz
as it seeks to retain control over passage through the key waterway during the two-week ceasefire. Hamid Hosseini, a spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, told the FT on Wednesday that Iran wanted to collect tolling fees from any tanker passing and to assess each ship. He said that the tariff is $1 per barrel of hashtag#oil, adding that empty tankers can pass freely. “Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in hashtag#bitcoin, ensuring they can’t be traced or confiscated due to sanctions,” Hosseini added. So why does Iran want to be paid in hashtag#bitcoin? Bacause: - It is portable - It is divisible - It can be trusted - It is economically & politically neutral - It has immutable monetary policy - It has perfect property rights But also because it preserves long-term purchasing power from finite energy exports. Indeed, storing oil revenues in traditional assets like US Treasury bonds can erode value over time, especially as energy prices rise faster than returns. Historical examples suggest Iran would struggle to repurchase the same oil it once sold. In contrast, assets like gold—and more recently Bitcoin—have better preserved or increased purchasing power relative to energy. Bitcoin, in particular, has dramatically outperformed oil prices since 2013. The conclusion is that commodity exporters may increasingly shift reserves into assets like gold and crypto to avoid losing value.
Bitcoin & crypto markets have looked resilient in the face of the Middle East conflict, outperforming Gold and equity indices.
"Maybe it takes a physical conflict to realise Bitcoin remains the most portable (cross border), digital and liquid asset w/no counter-party risks," Bernstein analyst Gautam Chhugani wrote in a note. Key Implications of the Statement: ➡️ Cross-Border Portability: Bitcoin can be transferred anywhere in the world, bypassing traditional banking restrictions that may arise during conflicts. ➡️Digital Nature: Being entirely digital, it is not susceptible to physical seizure, unlike gold or fiat currency. ➡️No Counter-party Risk: Because Bitcoin is decentralized, it does not rely on a central bank or government to guarantee its value or facilitate transactions. ➡️Liquidity: The asset can be readily exchanged, providing a financial safety net when local banking systems are compromised. Chhugani has previously pointed to rising tensions as a catalyst for investors to reconsider Bitcoin as a "safe haven" asset that operates outside of traditional financial infrastructure. Source: Bloomberg, HolgerZ
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