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- #Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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FED Member Provides Interest Good News! Will Bitcoin (BTC) and Altcoins See a Summer Rally?
Bitcoin (BTC) and altcoins are expected to rally as the FED is anticipated to resume interest rate rebates that it has paused since January, while FED member Christopher Waller has provided good news regarding interest rates.
Speaking on CNBC's Squawk Box program, Christopher Waller stated that he does not expect tariffs to significantly increase inflation, and therefore policymakers should consider lowering interest rates as early as next month.
We May Start Interest Rebates in July!
Waller stated that he believes he and his colleagues should move slowly regarding interest rate cuts. In contrast, he noted that inflation is no longer a significant economic threat to interest rates and that they should start to ease.
Waller's comments on the interest rate rebate came two days after the FOMC voted to keep the interest rate steady for the fourth time in June following its last interest rate cut in December.
Waller added in his statement that he believes the FED should implement a rate cut to prevent a possible slowdown in the labor market.
"We are seeing other signs that indicate a decrease in job creation and a weakening labor market. If you have started to worry about the risk of a downward movement in the labor market, do not wait.
Because I do not want to wait for the job market to collapse before lowering interest rates.
The labor market is in good shape, but it is not as strong as in 2022.
The FED should start the interest rate rebate process slowly, but it should proceed cautiously to avoid any surprises. The FED can pause the interest rate rebate whenever it wants.
Because we have sufficient reason to lower interest rates, we can then monitor inflation again.
FED Chairman Jerome Powell stated in a press conference on Wednesday following the interest rate decision that inflation continues to remain slightly above target levels and that they would proceed with a bit more caution regarding interest rate cuts due to concerns stemming from tariffs.