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On December 12th, the General Office of the Ministry of Industry and Information Technology released the "Implementation Plan for the Civil Explosives Industry to Implement the National Intelligent Manufacturing Standard System Construction Guidelines." The plan proposes that by 2030, a total of 30 intelligent manufacturing standards for the civil explosives industry will be formulated or revised, establishing a relatively complete intelligent manufacturing standard set for the industry. Combining the development trends of intelligent manufacturing technology with the practical foundation of the civil explosives industry, the plan promotes the exploration of typical application scenarios of advanced intelligent manufacturing technologies in the industry, adhering to the principle of "overall planning and prioritizing urgent needs," and orderly advancing the development of industry standards.December 12 – Indonesia is expected to reach a trade agreement with the United States by the end of the year, with both sides facing increasing pressure to resolve differences that could jeopardize bilateral relations. Jakartas Coordinating Minister for Economic Affairs, Airlangga Hattato, stated on Friday that Indonesia will send a delegation to Washington next week for consultations. This comes after senior officials from both sides "agreed to finalize the consensus reached by the two leaders on July 22." In July, the US and Indonesia reached a trade framework agreement; however, US officials subsequently claimed Indonesia had broken its promises, while Indonesia rejected US demands, fearing they would undermine its independence, particularly in key mineral and energy sectors. Previous reports indicated that Indonesia particularly opposed a clause in the agreement that would allow the US to cancel the agreement if Indonesia signed it in a way deemed detrimental to US interests.December 12th - It was learned today from the State Administration for Market Regulation that in the first three quarters of this year, market regulators organized special campaigns such as intellectual property law enforcement to further strengthen governance in key areas, key commodities, and key markets, and actively leverage the deterrent power of administrative law enforcement. In the first three quarters, these special campaigns investigated and handled nearly 390,000 related cases, including 27,000 cases of trademark infringement and patent counterfeiting. Approximately 54,000 enforcement actions were carried out against key entities where infringement and counterfeiting are frequent.HSBC lowered its target price for Oracle (ORCL.N) from $382 to $364.Hungarian Prime Minister Viktor Orbán: Hungary protests the EUs "illegal" move to freeze Russian assets indefinitely, which was passed by a majority vote.

El Salvador Buys The Dip With 80 More BTC

Jimmy Khan

Jul 01, 2022 14:15

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El Salvador's mysterious president Nayib Bukele tweeted on July 1 that his nation has purchased a further 80 BTC for almost $19,000 apiece before concluding, "Bitcoin is the future." The transaction would have cost around $1.52 million in total.


The Central American nation now has a total of 2,381 bitcoins, which lowers the dollar cost average price.


Early in May, Nayib made the prior acquisition of 500 BTC for $15 million. But back then, the asset was valued at around $32,000.


Beginning in September 2021, when it acquired 200 BTC, Holdings in The Red El Salvador started contributing Bitcoin to its treasury. However, the item was suddenly trading for more over $50,000. The next seven transactions that year, along with one in January, totaled an additional 410 BTC for an average cost of around $36,500.


The entire amount of El Salvador's Bitcoin holdings is presently $46.7 million, but the Nayib tracker (which hasn't yet included this most recent purchase) shows that the nation has lost around 55% of its investment capital. If sold, it would suffer a loss of around $58 million. Given that he just strengthened his stance on the asset, it is obvious that Nayib Bukele has no intention of selling.


Alejandro Zelaya, El Salvador's minister of finance, said in May that the amount of BTC the nation had at the time was less than 0.5 percent of its yearly budget. It created a "very minor" danger to the nation's financial situation, he said.


Economic growth in El Salvador has decreased, according to a CNBC piece published last week. The nation's debt-to-GDP ratio, which measures how much a country owes compared to how much it produces, will reach 87 percent this year, and its deficit continues to be large.


The boost in tourism, which has increased by 30% since Bitcoin was approved in September, is one benefit of Bukele's Bitcoin experiment. Additionally, Bukele's popularity ratings have increased to just around 85%. He is up for reelection in 2024, and if Bitcoin markets are still bullish by then, his position is all but secured.


El Salvador has followed software company MicroStrategy, which this week also added 480 BTC to its stockpile by purchasing additional Bitcoin.

BTC Falls under $19K

During the Friday morning Asian trading session, bitcoin prices fell to an intraday low of $18,782. But it rapidly bounced back, reaching $20,280 at the time of writing.


Although the asset has been range-bound for the previous two weeks, it has lost more than 36% of its value in that time. Since reaching an all-time high of $69,000 in November 2021, the price of bitcoin has decreased by 70%.


As the bears continue to control the markets, the fear and greed index is buried in the "severe fear" zone.

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