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Share to Twitter Share to Linkedin Michael Saylor’s new job looks a lot like his old job: adding bitcoin to the balance sheet of his business-software company with religious fervor. “I'm a bitcoin maximalist, I happen to believe that bitcoin is an instrument of economic empowerment, it'll be beneficial to eight billion people,” Saylor told Forbes in an interview. “I also happen to believe that bitcoin is unique,” he continues, because of “the Immaculate Conception, decentralization, and its commodity status. All of these things make it the superior asset in the space.” The Immaculate Conception he means is the founding of bitcoin, as explained in a 2008 white paper by one or more people using the name Satoshi Nakamoto. Saylor stated that bitcoin is the only crypto asset which is truly decentralized and without an issuer. He backs bitcoin as a corporate investment in part because he believes there is regulatory agreement among U.S. regulators that bitcoin … [Read more...] about Bitcoin ‘Maximalist’ Saylor Makes Crypto His Only Job

Share to Twitter Share to Linkedin Today in Geneva, concurrent with the Watches & Wonders Geneva 2023 exhibition, Jacob & Co. unveiled its $20 million Billionaire Timeless Treasure Yellow Diamond watch that is a complex tourbillon timepiece totally ensconced in 425 Asscher-Cut Fancy Yellow and Intense Yellow diamonds. The feat of simply collecting and cutting all of the highest color and quality of matching diamonds alone was three-and-a-half years. This is not the first Billionaire watch the brand has built. In fact, in 2015 it released its first Billionaire watch bedecked with 260 carats of white diamonds. Three years later, in 2018, F loyd Mayweather bought a Billionaire watch (only 21 have been made since 2015, with all of them selling except for one) for $18 million. The brand then unveiled, also in 2018, its $ 6 million yellow diamond Millionaire watch with 127 carats of intense yellow diamonds. But that wasn’t enough for this … [Read more...] about Jacob & Co. Unveils $20 Million Billionaire Timeless Treasure Yellow Diamond Watch

Share to Twitter Share to Linkedin MicroStrategy added $150 million worth of bitcoin to its stash at an average price per coin of $23,238 in February and March, generating an 18% gain over the past few weeks. The Tysons Corner, Virginia-based company sold equity to pay for the crypto and also to extinguish debt to Silvergate Bank. The business-software maker and bitcoin investor also freed up 34,619 bitcoins (BTC) of collateral used to back a $161 million term loan, according to a filing with the U.S. Securities and Exchange Commission, by repaying Silvergate, the crypto-focused bank based in La Jolla, California that is winding up its business after a run on deposits. The floating-rate loan was scheduled to mature in March 2025 and bore interest at a rate of 8.27% a year as of Friday, when the payoff was executed. The most recent purchases of 6,455 bitcoins brought MicroStrategy’s holdings to about 138,955 BTC, worth $4.14 billion and acquired at an … [Read more...] about MicroStrategy’s $150 Million Of Bitcoin Purchases Catch Rally, Jump 18%

Divya Karyza, Wahyoe Boediwardhana, Suherdjoko (The Jakarta Post) PREMIUM Jakarta   ● Tue, March 28 2023 The government has decided to import 2 million tonnes of rice in 2023 to replenish diminishing government rice reserves (CBP) needed to stabilize prices at the consumer level, with 500,000 tonnes to be delivered “as soon as possible”. The move has sparked a backlash from smallholders in producing regions, fearing the import would bring down farmgate prices and hurt local farmers. The amount marks the largest CBP import during President Joko “Jokowi” Widodo's 10-year tenure after a 2017 decision that brought in 1.8 million tonnes of rice. to Read Full Story SUBSCRIBE NOW Starting from IDR 55,500/month Unlimited access to our web and app content e-Post daily digital newspaper No advertisements, no interruptions Privileged access to our events and programs Subscription to our newsletters We accept Register to read 3 … [Read more...] about Two million tonne rice import plan puts govt on tightrope

The Federal Deposit Insurance Corporation (FDIC) announced Sunday night that First Citizens BancShares made a deal to acquire Silicon Valley Bank (SVB), the recently failed tech lender. On March 10, the federal regulator took over SVB following a bank run that caused it to collapse . The FDIC then sought a buyer for the bank, either as a whole or in segments, and found one in First Citizens in a transaction including $72 billion in assets — a discount of $16.5 billion, according to the FDIC statement . About $90 billion in SVB’s securities and other assets were not part of the acquisition and will stay in the ownership of the FDIC, according to the statement. The FDIC also will get equity appreciation rights tied to the stock of First Citizens, which may be worth up to $500 million, according to the statement. (RELATED: After Collecting Millions From Wall Street, Janet Yellen Now Helps Decide Which Banks Get Bailouts) Federal Reserve Board Chair Jerome Powell speaks … [Read more...] about First Citizens To Acquire Collapsed Silicon Valley Bank In Major Deal

Share to Twitter Share to Linkedin Paul is President of Quantum Computing at ColdQuanta , where he leads the team building the world’s most useful quantum computer. So much of modern life relies on GPS that it has been estimated that an outage would cost the U.S. economy over $1 billion per day. Such an outage isn’t too far-fetched. We have seen recent examples of GPS being blocked in conflict zones, spoofed for nefarious purposes and disrupted by solar storms. At its heart, GPS is a timing system. To understand how timing relates to navigation, and how quantum technology will enable us to overcome the limitations of GPS, we need to go back in history a few hundred years. Dava Sobel’s book Longitude recounts the tale of John Harrison’s mechanical clock that revolutionized maritime navigation and global trade. In the same way that Harrison’s clock accelerated economic growth through the 18th and 19th centuries, optical clocks are … [Read more...] about A Quantum Leap In Timing

Share to Twitter Share to Linkedin Experts attribute that the fascination with Japanese food in the U.S. started in New York City back in 1964 when wrestler turned restaurateur Hiroake “Rocky” Aoki launched Benihana. Its hibachi steak was prepared right in front of guests on a grill at the table and created quite the stir. In fact, Benihana is still going strong with about 75 eateries in about 25 states. Since then, a slew of Japanese restaurant chains such as Jinya Ramen Bar and Kura Sushi, regaled for its serving sushi on its revolving conveyor belt, have flourished in the U.S. But the Japanese restaurant chain that has been most adept at expanding has been Teriyaki Madness, based in Denver, Co. It has grown due to the power of franchising since 129 of its 130 restaurants are franchised. For example, in 2022 it expanded by 29 locations; every one of which was franchised. Of those 130 locations, 126 of them are based in the U.S., spanning 26 states. … [Read more...] about Teriyaki Madness: Building A Japanese Restaurant Powerhouse Through Franchising

More voters appear to be dissatisfied than content with Transportation Secretary Pete Buttigieg’s response to an Ohio train derailment that exposed a small town to toxic chemicals in early February, according to a Harvard CAPS/Harris poll released Friday. A Norfolk Southern train derailed in East Palestine, Ohio, on Feb. 3 and a controlled burn conducted on Feb. 6 to alleviate pressure within the cars released harmful chemicals including vinyl chloride into the environment. Buttigieg caught flack for failing to respond to the derailment until ten days later, and for not visiting the derailment site until three weeks after the initial crash. (RELATED: ‘Superman’s Not Coming’: Ohioans Brace For Tough Road Ahead After Toxic Train Derailment) Thirty-one percent of polled voters said that Buttigieg’s response to the derailment was “poor,” while 30% said that it was “fair,” according to the results. Conversely, 29% said that the response was “good,” but only 9% said it was … [Read more...] about Majority Of Voters Believe Buttigieg’s Response To Toxic Train Derailment Was ‘Fair’ Or ‘Poor’: POLL

Share to Twitter Share to Linkedin MicroStrategy MSTR , the business-software company that has a thing for bitcoin still loves the cryptocurrency even though it sold some for tax purposes last month, employing a tactic that could help other long-term fans ease the pain from the asset’s months-long slide. As part of a flurry of late-year transactions, MicroStrategy sold about 704 bitcoins at an average price of $16,776 on December 22, the first time the company had divested any holdings of the leading cryptocurrency. But that followed purchases of about 2,395 tokens for about $17,871 each from November 1-December 21. The company said in an SEC filing that it planned to use losses generated by the sale to diminish previous capital gains, which could result in tax benefits. It also said it turned around and bought 810 bitcoins on December 22 at about $16,485 each, meaning MicroStrategy had a net increase of about 2,501 in its bitcoin hoard since the … [Read more...] about MicroStrategy Sticks With Long-Term Bitcoin Strategy But Uses Short-Term Sale For Tax Benefit

Share to Twitter Share to Linkedin What Happened It has been a rough 2022 for cryptocurrency holders who had to face the collapse of luna and its associated stablecoin terraUSD, the meltdown of several digital-asset exchanges, and a brutal financial winter that cut the market value of all coins and tokens to $800 million from the January high of $2.4 trillion. With the year coming to an end, U.S. investors–most of whom are likely to be sitting on losses – have some room to optimize their tax situations and get ready for the upcoming filing season. Anyone following crypto knows how volatile the market can be. Forbes CryptoAsset & Blockchain Advisor looks at the universe of viable crypto assets with proprietary analysis and insider crypto knowledge to guide you to the best choices. Key Concepts Below are some strategies and best practices you can follow before the end of the year to save on taxes and have a smoother filing experience in … [Read more...] about Year-End Tax Tips After Crypto’s Dismal 2022