In today’s cryptocurrency landscape, notable events have unfolded. Changpeng Zhao (CZ), the co-founder of Binance, appealed to Elon Musk to tackle automated bots on Platform X, while the US Strategic Bitcoin Reserve’s negative reception hints at unrealistic investor anticipations. In addition, Michael Saylor, a regulatory expert, suggested a potent US government strategy for Bitcoin accumulation.
On Platform X, CZ pleaded with Elon Musk to eliminate automated bots, an issue that has been troubling the cryptocurrency community for some time. “All bots on X should be banned. Here, I only wish to engage with humans and not ‘automated’ entities,” CZ expressed in a post dated March 9.
These bots magnify messages by liking, retweeting, or commenting on posts, often managed by individuals or groups operating bot farms. They frequently impersonate cryptocurrency influencers or industry executives to peddle counterfeit tokens, promote fraudulent airdrop scams, and circulate phishing links with the intention of defrauding unsuspecting users. A 2023 research by the Network Contagion Research Institute also revealed that these bots had been used to manipulate cryptocurrency prices.
The US Strategic Bitcoin Reserve’s backlash points to unrealistic industry expectations. The reserve, perceived as a significant stride towards Bitcoin adoption, has been met with broad disappointment, according to regulatory experts. President Donald Trump signed an executive order on March 7, utilizing Bitcoin seized from criminal cases instead of direct market purchases, causing Bitcoin’s price to drop over 6% from $90,400 to $84,979, as indicated by Cointelegraph Markets Pro data.
Strategy founder Michael Saylor has proposed an ambitious plan for the US government to acquire up to 25% of Bitcoin’s total supply over the next decade. Saylor’s strategy, titled “A Digital Assets Strategy to Dominate the 21st Century Global Economy,” advocates for a “never sell your Bitcoin” policy, projecting that by 2045, the Strategic Bitcoin Reserve could yield over $10 trillion annually, a “perpetual source of prosperity” for Americans.
