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Welcome to the US Crypto News Morning Briefing

Your essential rundown of the most important developments in crypto for the day ahead.

Grab your coffee as we delve into the implications of Bitcoin (BTC) for Ireland—one of the countries confronting the impact of US President Donald Trump’s tariff increases. Amid escalating global economic uncertainty, Bitcoin’s reputation as a hedge is gaining traction, with traditional finance (TradFi) institutions, lawmakers, and even UFC icons rallying around it.

Crypto News of the Day: Ireland Should Invest $114 Billion Sovereign Fund in Bitcoin, According to Max Keiser

Conor McGregor has recently called upon the Irish government to establish a national Bitcoin strategic reserve, emphasizing the need to put monetary power back into the hands of the people.

“An Irish Bitcoin strategic reserve will give power to the people’s money,” McGregor tweeted.

As an Irish national and UFC superstar, McGregor is collaborating with influential figures like Max Keiser and El Salvadoran President Nayib Bukele in a bid to elevate Bitcoin’s status in Ireland.

“Max and Nayib send me a message and let’s organize a meeting,” McGregor expressed in a recent post.

Max Keiser has played a pivotal role in El Salvador’s historic adoption of Bitcoin, which is evident from his X (Twitter) account, where he shares insights alongside his wife Stacy Herbert and key figures like Michael Saylor and Nayib Bukele.

Now aligned with McGregor, Keiser is openly criticizing financial corruption in Ireland, following a revealing exposé earlier this year.

Against this backdrop, BeInCrypto reached out to Max Keiser, who reiterated his commitment to meet with McGregor and Bukele to discuss plans for financial reform in Ireland.

“Conor McGregor might be coming to El Salvador,” shared a proud Salvadoran voice on X.

The proposed meeting will center around Ireland’s financial strategies, advocating for a significant investment in Bitcoin. According to Keiser, Ireland’s nascent sovereign wealth fund, estimated to be around $114 billion, should be entirely allocated to Bitcoin.

“Ireland has a chance to avoid financial ruin by putting their entire 114 billion Euro windfall into an Irish Bitcoin Strategic Reserve Fund,” Keiser stated during the discussion with BeInCrypto.

The growing sentiment is that Ireland’s financial corruption could be effectively addressed through a strategic reserve focused on Bitcoin. With McGregor leading this charge, alongside Keiser and President Bukele, there is an aspiration to replicate El Salvador’s Bitcoin journey.

Much like McGregor, Keiser is advocating for the North Atlantic island to establish a Bitcoin strategic reserve to secure long-term economic autonomy.

“Holding anything else is 100%, mathematically guaranteed to lose purchasing power against Bitcoin. Ireland would therefore be guaranteed to lose relevance against all countries and companies that are now creating Bitcoin Strategic Reserve funds as the world shifts toward a Bitcoin standard,” Keiser asserted.

During his conversation with BeInCrypto, Keiser highlighted the risks of ignoring Bitcoin, cautioning that Ireland could quickly fall behind nations advancing in cryptocurrency adoption.

“It’s like gunpowder. If you don’t embrace the power of gunpowder, be prepared to be taken over by countries that do,” Keiser concluded.

Chart of the Day

El Salvador Bitcoin portfolio. Source: Arkham

The accompanying chart illustrates the El Salvador government’s Bitcoin portfolio, showcasing its holdings valued at approximately $642.18 million, which corresponds to 6,174 BTC, with Bitcoin pricing at $104,011 each.

Byte-Sized Alpha

Here’s a comprehensive summary of more key US crypto news to watch throughout the day:

• Bitcoin surged past $105,000 following a tariff relief announcement between the US and China, which ignited a market rally.

• The Pi Network’s price spiked nearly 50%, reaching over $1 for the first time since March, generating substantial short-term bullish momentum.

• The upcoming April CPI release on Tuesday may influence Federal Reserve rate cut predictions or solidify tighter policy, having direct consequences on Bitcoin’s trajectory.

• Analysts are debating if Sui’s recent price rally could impact Solana’s dominance; however, the consensus suggests it might take time.

• Despite Bitcoin exceeding $100,000 for the first time since February, Bitcoin ETF inflows declined by 67%, amounting to $600 million.

• The recent agreement between the US and China to temporarily reduce tariffs on each other’s goods for a period of 90 days, starting May 14, led Bitcoin to rise by 1.25%, hitting highs not seen since January 31.

• Caution is warranted regarding phishing scams utilizing Punycode domains that replicate legitimate crypto sites, deceiving even cautious users. Browser suggestions could inadvertently guide visitors to fraudulent sites, increasing the risk of theft.

Crypto Equities Pre-Market Overview

Crypto equities market open race: Finance.Yahoo

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Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent reporting. This news piece aims to deliver accurate, timely information, but readers are encouraged to independently verify facts and consult professionals before making decisions based on the presented content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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