Germany Proposes Legal Tender Status for Bitcoin
Exciting news in the crypto world as German MP Joana Cotar has put forward a proposal to establish Bitcoin as legal tender in Germany. This move aims to provide legal security for businesses and citizens, addressing concerns about money laundering and tax evasion associated with Bitcoin.
Bitcoin’s Record-Breaking Options Open Interest
Bitcoin’s options open interest has reached an all-time high, surpassing $16 billion. This indicates a highly liquid BTC futures market with a large number of participants and coincided with Bitcoin’s price recovery to $37,000 during the 15 November trading session.
Bitcoin’s Recent Price Movement
After consolidating its position in a narrow range, Bitcoin is currently trading at around $37,446, a level not seen since May 2022. The recent rally above $37,000 led to the liquidation of short positions worth $51 million, the second-highest value in the past 15 days.
Hot Take: Bitcoin’s Growing Influence in Germany
The proposed legal tender status for Bitcoin in Germany represents a significant step towards mainstream acceptance of cryptocurrencies. With its record-breaking options open interest and recent price movement, it’s clear that Bitcoin continues to gain momentum and influence in the global financial landscape.
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