Bitcoin (finally) Hits $100K

Cyber Snack

Read time: 2 min 39 sec

It’s like Christmas came early - with Bitcoin hitting $100K, OpenAI unveiling its Pro model, and David Sacks stepping into Crypto and AI Czar, there’s a lot of exciting gifts to unwrap this week! 🎁

Let’s dive in.

Top Story

*approaches podium shuffles paper, clears throat*

*ladies and gentlemen……..it happened*

Bitcoin Finally Hit $100K.

*Wipes away single tear, whispering “God dammit man, you promised yourself you wouldn’t cry”*

What's Happening? Bitcoin has crossed the $100,000 threshold, driven by institutional adoption, political support for crypto, and the aftermath of its halving event. Despite initial volatility with significant liquidations following the peak, the market sentiment leans towards recovery and further growth.

Meaning? The $100,000 milestone for Bitcoin signifies its growing acceptance as a legitimate asset class, potentially acting as an inflation hedge. It reflects increased mainstream interest, although the price might face corrections as the market adjusts to this new level.

Tech Pulse

OpenAI’s o1 goes Pro

What's Happening? OpenAI has launched ChatGPT Pro, a new subscription tier priced at $200 per month, introducing unlimited access to advanced models like the full version of o1, along with o1 pro mode, which uses more computing power for enhanced reasoning capabilities.

Meaning? This move by OpenAI indicates a shift towards monetizing advanced AI capabilities, aiming at users like researchers and developers who require robust AI tools. The introduction of o1 pro mode signifies OpenAI's commitment to improving AI reasoning, offering more reliable and complex problem-solving, potentially setting a new standard in AI service offerings.

Policy & Power

David Sacks get’s New Job and More.

Sacks becomes Crypto and AI Czar: President-elect Donald Trump has appointed David Sacks as the White House AI and Crypto Czar to spearhead policy development for AI and cryptocurrency, aiming to enhance U.S. competitiveness. Sacks, with experience from PayPal and Yammer, will focus on fostering innovation and providing regulatory clarity. His leadership in tech policy could significantly impact these sectors.

DOGE starts work: Elon Musk and Vivek Ramaswamy met with Capitol Hill lawmakers to discuss President-elect Trump's government efficiency initiative, focusing on cutting federal spending and reducing regulations. Musk teased creating a "naughty and nice" list for Congress. DOGE, despite its name, is merely an advisory panel, sparking debates on transparency and its influence.

Russia's Conditions for Peace: In an interview with Tucker Carlson, Sergey Lavrov listed Russia's peace terms: Ukraine out of NATO, no foreign military presence, and the recognition of annexed regions as Russian. He also called for the repeal of Ukraine's Russophobic laws to protect ethnic Russians, starkly contrasting with Ukraine's and the West's stance for the preservation of its 1991 borders.

Other Headlines

👀 Trump meets Pharmacists: President-elect Trump hosted a dinner with executives from Pfizer, Eli Lilly, and PhRMA at Mar-a-Lago, focusing on potential collaborations for cancer research.

🧠 Jeff’s Judgment: Jeff Bezos wants to be judged by how rich he’s made investors.

💸 More Money: Number of 401(k) ‘millionaires’ just jumped by 9.5%.

🧑‍💼 Meta Investing Big: Meta will invest $10B in building a Louisiana data center.

🗡️ Trump’s deregulation begins: How Trump could kill tough bank rules.

👍 Citigroup Level Up: Citigroup promotes 344 executives to managing directors.

🦾 XAI: xAI has secured $6 billion in Series B funding to expand its AI capabilities, potentially positioning Memphis as a tech hub.

🎯 Musk takes Aim at American Healthcare: Musk questions the value of health care coverage Americans receive.

🤝 Powell gives Crypto a Hand: How Powell may have aided bitcoin’s rally to $100,000.

Thanks for reading.

Until next time!

Thomas & the ONUE team 🚀