BTC breaks through the $98000 mark

According to Cointelegraph, six digital economy industry associations in the UK recently sent a joint letter to Prime Minister Keir Starmer's office, calling on the government to appoint a cryptocurrency envoy and develop a special plan for the development of digital assets. This letter, submitted on March 31st, was directly presented to Varun Chandra, the Prime Minister's Special Advisor on Business and Investment, emphasizing the urgent need for the UK to strengthen its strategic focus to promote investment, employment, and economic growth in the cryptocurrency sector. The members of the alliance include the UK Cryptocurrency Business Council, the Global Digital Finance Association, the Payment Association, the Digital Currency Governance Group, the Cryptocurrency Innovation Committee, and the Technology UK Association.

Odaily Planet Daily reported that six digital economy and trade organizations in the UK recently sent a letter to Varun Chandra, the Prime Minister's special advisor, calling on the government to appoint a special envoy for blockchain and cryptocurrency affairs and develop a dedicated action plan to promote investment, growth, and employment in the industry. The alliance pointed out that the United States has established a person in charge of cryptocurrency affairs under the Trump administration and increased investment in cryptocurrency policies. It suggested that the UK can seize global competitive opportunities and establish a leading position in the fields of digital assets and fintech by leveraging economic and trade agreements with the US in technology cooperation. In addition, the letter also suggests establishing a high-level coordination mechanism between government, industry, and academia, establishing exclusive guidance services to attract potential enterprises, and emphasizes that the government should attach importance to the collaborative potential between blockchain, quantum computing, and artificial intelligence technologies. The alliance believes that encryption and blockchain technology are expected to contribute £ 57 billion to the UK economy over the next decade and bring up to £ 1.39 trillion in global GDP growth. BitCompli co-founder Tom Griffiths stated on LinkedIn that despite the talent and planning of the Financial Conduct Authority (FCA) in the UK, the country is falling behind places like Dubai and Singapore. Now is a critical moment for FCA's actions to avoid missing out on the long-term development opportunities brought by digital assets. （Cointelegraph）

The current price of BTC is $84688.99, with a 1.98% increase in the past 24 hours. Among them, the total liquidation amount of contracts across the entire network in the past 24 hours was 191 million US dollars, with multiple main liquidation orders and a BTC liquidation of 37.2 million US dollars (19.38%). The data is for reference only.

According to BeInCrypto, Geoff Kendrick, head of digital asset research at Standard Chartered Bank, stated in an interview that the trend of Bitcoin as an inflation hedge tool is strengthening. Kendrick pointed out that Bitcoin is highly correlated with the Nasdaq index in the short term. He claimed that Bitcoin may not only be an inflation hedge tool, but more like a replacement for technology stocks: "Rather than seeing Bitcoin as a hedge against traditional financial (TradFi) problems, it is better to see it as a technology stock. If we create a hypothetical index that adds Bitcoin to the 'Big Seven' technology stocks and excludes Tesla, we will find that our 'Big Seven+Bitcoin' (Mag 7B) index not only has higher returns, but also lower volatility

According to Bitcoin.com, US Senator Ted Cruz recently announced the introduction of the FLARE Act, a federal proposal aimed at converting wasted energy into efficient use through targeted tax reform. This federal bill seeks to amend the 1986 Internal Revenue Code to provide for permanent full expending of property used to capture natural gas that would otherwise be burned or emitted and use it for value-added products. Cruz described this initiative as a strategic step to leverage the state's abundant energy supply and strengthen its leadership position in the digital asset sector. The congressman said, "I am committed to making Texas the preferred place for Bitcoin mining. The FLARE Act incentivizes entrepreneurs and cryptocurrency miners to use natural gas that would otherwise be stranded