Bitcoin is retreating from its recent peaks and approaching the weekend with caution. This occurs as Michael Saylor takes center stage by attending an event at JP Morgan, where the Strategy team is facing pressure related to real index concerns.
Simultaneously, today marks the 15-year anniversary of Satoshi Nakamoto’s last public engagement before disappearing, leaving Bitcoin to thrive without any known founder, CEO, or public representative.
Additionally, Shiba Inu continues to see robust trading activity, even as some industry leaders claim that meme coins are no longer relevant. This wraps up the week in the cryptocurrency space.
Summary
- Saylor visits JP Morgan amid potential exclusion from MSCI indices.
- Fifteen years since Satoshi Nakamoto’s final public Bitcoin statement.
- While meme coins are declared obsolete, SHIB’s activity suggests otherwise.
Michael Saylor’s Engagement at JP Morgan
Michael Saylor, whose company Strategy holds 660,624 BTC valued at approximately $61.1 billion, has made a notable appearance at JP Morgan’s headquarters.
This visit encompasses more than just networking; Strategy is currently under review for potential removal from the MSCI USA and MSCI World indices, with a decision anticipated by January 15. JP Morgan estimates that this could trigger up to $8.8 billion in passive fund outflows.
Saylor acknowledged this significant figure, stating that Strategy is involved in the review process, although he questions the realism of the predicted outflows. This situation is critical as the company heavily relies on increasing its Bitcoin investments.
Fifteen Years Since Satoshi’s Departure
December 12 marks the 15th anniversary of Satoshi Nakamoto’s last public announcement, where he shared a technical post on BitcoinTalk regarding denial-of-service attack vectors.
Post that communication, Satoshi exchanged private messages with a select group of developers before ultimately ceasing contact by early 2011. From that point forward, Bitcoin has operated under the direction of its user community.
This absence of a guiding figure has been more beneficial than anyone could have anticipated. Without a centralized authority, Bitcoin has grown independently, highlighting a stark contrast in today’s landscape filled with industry personalities and corporate influences.
Meme Coins: A Counterargument from Shiba Inu
CryptoQuant CEO Ki Young Ju recently proclaimed that meme coin markets are effectively no more. This statement quickly gained traction, eliciting mixed responses, from agreement to skepticism. Nevertheless, Shiba Inu coin statistics suggest otherwise.
SHIB experienced an intraday price uptick alongside increased buying activity. Contrary to fading interest, trading volume increased, and this occurred without a broader market rally. The market cap hovered around $4.95 billion, indicating stable supply metrics and consistent holder numbers.
Responses to Ju’s comment reflected a divide in opinion. Some perceived the statement as a spark for contrarian views, while others cited stablecoin movements and on-chain data as evidence against a clean exit from the meme coin sector.
Crypto Market Outlook
This week hasn’t significantly altered overarching trends but has clarified vulnerabilities within the crypto environment. Saylor’s JP Morgan appearance indicates that Bitcoin exposure is now being evaluated at the index level. Meanwhile, the 15-year anniversary of Satoshi’s silence stands as a reminder of Bitcoin’s unique structure, contrasting with the dependency of other assets on committees and regulations. Even amid claims of irrelevance, SHIB continues to demonstrate real market interest.
Bitcoin (BTC): Currently trading near $92,500 with resistance around $95,000 and a coveted target of $100,000.
Shiba Inu (SHIB): Currently at $0.00000845, with initial resistance at $0.0000092. A rise to $0.00001 would signify a significant shift.
