Bitcoin tops $100,000 | French Govt Collapses | Opec Oil Production Delayed

Bitcoin tops $100,000 for the first time

Bitcoin catapulted above US$100,000 for the first time on Thursday.

Boosted by US president-elect Donald Trump’s nomination of pro-crypto Paul Atkins to run the Securities and Exchange Commission (SEC).

The total value of the cryptocurrency market has almost doubled over the year so far to hit a record just shy of US$3.8 trillion.

Bitcoin is up more than 50 per cent in the four weeks since Trump’s sweeping election victory, which also saw a slew of pro-crypto lawmakers being elected to Congress.

France’s government collapses after losing no-confidence vote in parliament

Prime Minister Michel Barnier was ousted in a no-confidence vote, leading to the collapse of the French government.

The collapse marks the first time France's government has fallen in a no-confidence vote since 1962.

Barnier's use of special powers to push through his budget without a vote triggered the no-confidence motion.

Barnier's budget included €60 billion in deficit reduction measures, which was deemed unacceptable by both the left-wing alliance and the far-right National Rally.

Opec+ delays revival of its oil production by three months

OPEC+ has delayed the revival of its oil production by three months due to a looming surplus and struggling crude prices.

The planned supply increase of 180,000 barrels a day, initially set for January, will now start in April. The delay in production increases is expected to keep gasoline prices lower for U.S. consumers, with prices around $3 a gallon

Oil demand has faltered in China, while supplies have increased from the US, Brazil, and Canada.

The delay is expected to help OPEC+ assess the impact of President-Elect Donald Trump’s return to the White House and his potential policies on crude exports from Iran.

Market Updates

• Powell says economic strength gives Fed ability to take time on rate cuts.

• Taiwan Semiconductor and Nvidia discuss production of AI chips at Arizona facility.

• Meta announces $10 billion data center in Louisiana.

• Disney boosts annual dividend by 33%.

Joke of the Day!

Why couldn't the bicycle stand up by itself?

Because it was two-tired!

Generative AI Photo of the Day!

Prompt: A paper craft art depicting a girl giving her cat a gentle hug. Both sit amidst potted plants, with the cat purring contentedly while the girl smiles. The scene is adorned with handcrafted paper flowers and leaves.