Sign Up on MEXC
While you might be continuing to think that your money is safe with the banks, but in reality, it’s neither safe with the U.S. Treasury as well. On the evening of December 13, the U.S Government acknowledged reports that the U.S. Treasury and the agency linked to the Commerce Department have been breached by foreign elements with accusations pointing towards Russia.
This is a massive breach of the U.S. cybersecurity and a serious matter. The National Security Council had to call for an emergency meeting at the White House on Saturday. John Ullyot, the spokesperson of the National Security Council said:
“The United States government is aware of these reports and we are taking all necessary steps to identify and remedy any possible issues related to this situation”.
The report from Reuters notes that the hackers used professionals tools and could break-through the NTIA’s office software, Microsoft’s Office 365. It also notes that the hackers were monitoring staff emails at the agency, for months together.
Also, the report comes just in a few days of U.S. cybersecurity firm FireEye disclosing a similar breach last week. FireEye has been working for the last many years with the FBI, the U.S. Federal Agencies, and the U.S. National security. People close with the matter have suspected the hand of Russian intelligence in the latest hack.
Bitcoin (BTC) Can Garner More Trust
Well, such big hacks is surely going to push people to reconsider their trust on regulators for handling their money. While the regulators have been calling out crypto exchanges for poor security measures, it seems the top agencies are themselves not so secure. If anything, this might further increase people’s trust in Bitcoin (BTC) and other cryptocurrencies. Michael Saylor, the CEO of MicroStrategy says:
“Bitcoin is a bank in cyberspace, run by incorruptible software, offering a global, affordable, simple, & secure savings account to billions of people that don’t have the option or desire to run their own hedge fund.”
The recent adoption of Bitcoin by institutions hint at a growing acceptance of crypto and it gives people more freedom and control over their money. Over the last few weeks, institutions have poured several-hundred-million-dollars in BTC and the race gets stronger every single day.
On Saturday, MicroStrategy completed the conversion of $650 million worth of Convertible Notes and plans to use the proceeds for Bitcoin investment. The company has so far invested over $1 billion in BTC in 2020.
Every investor is in danger of losing their wealth due to the great monetary inflation. We all need a Store of Value that is not based on fiat. #Bitcoin is The Solution – an investment grade, safe haven, treasury reserve asset. #BTC is our best https://t.co/Rvf2JvyHMb.
— Michael Saylor (@michael_saylor) December 11, 2020
- Bitcoin Treasuries Add Nearly $1B BTC This Week as Holdings Cross 1M BTC
- Peter Schiff Criticizes Bitcoin’s Performance Following Gold’s Rally To New ATH
- Arkham Uncovers $5 Billion in Untouched Bitcoin From Germany’s Movie2K Seizure
- Ethereum Spot ETFs Record $447 Million in Outflows Amid Crypto Market Decline
- World Liberty Financial Discloses Reason for Blacklisting 272 Wallets
- HBAR Price Forecast: Analyst Targets 123% Rally as ETF Approval Odds Hit 90%
- Solana Price Prediction: Will Solana Hit $320 as SOL Strategies Gains Nasdaq Approval?
- XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025
- Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
- Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
