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▲ Bitcoin (BTC)/AI Generated Image
From the forecast of Bitcoin (BTC) reaching $1 million to the Trump family's $1 billion investment network and the US Department of Defense's experiments with Bitcoin, major issues in the weekend financial and technology markets revolved around cryptocurrencies. The trend of cryptocurrencies expanding beyond speculative assets into national strategy, policy legislation, and industrial investment areas was highlighted.
Benzinga, on May 10 (local time), summarized key financial and technology news for the weekend, covering Bitcoin's long-term value outlook, the US Department of Defense's Bitcoin experiments, the Trump family's investment network, the Senate stablecoin bill, and the reactions of GameStop and Dogecoin (DOGE) as core issues.
The first issue is the prediction of Bitcoin reaching $1 million. David Marcus, CEO of Lightspark, expressed confidence in Bitcoin's long-term trend despite its high volatility. He stated that Bitcoin could be worth over $1 million in the very long term. However, he did not specify a concrete timeline.
The second issue is the potential use of Bitcoin by the US Department of Defense. Pete Hegseth, the US Secretary of Defense, stated at a House Armed Services Committee hearing that the Department of Defense is considering using Bitcoin as a tool for power projection. He explained that related experiments are underway and classified. This indicates that Bitcoin is being considered not just as an investment asset but also in national security and strategic domains.
The third issue is the Trump family's large-scale investment network. Eric Trump and Donald Trump Jr. are backing a $1 billion investment network targeting the artificial intelligence (AI), drone, and cryptocurrency industries. This network, American Ventures, has raised over $1 billion through 21 investment vehicles.
The fourth issue is the US Senate's stablecoin bill. The Senate Banking Committee is pushing a major cryptocurrency market structure bill that could reshape the traditional deposit system. This bill has raised concerns in the banking sector and is scheduled for its first vote on May 14. Benzinga covered this bill as an issue that could affect not only the cryptocurrency market but also the traditional financial sector.
The final issue is GameStop CEO Ryan Cohen's remarks regarding his proposed acquisition of eBay and Dogecoin's reaction. After Cohen's interview, Dogecoin reacted by referencing the meme stock CEO's meme stock actions. Benzinga presented this as an example of technology, stock, and cryptocurrency cultures intertwining in the weekend market.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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