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Today's selection:
- 🖋️ Microsoft Strategic Move
- 🇦🇷 Argentina's Bitcoin Victory
- 📰 Bite-Sized News
- 👌 Meme of The Day
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Bitcoin's Price Jumps Following Javier Milei's Victory in Argentina.
Last night, Bitcoin's value soared past the $37,000 mark, briefly topping $37,500 before undergoing a correction.
Currently, its trend remains uncertain.
This surge has also led to an increase in trading volumes, now approximately ten percent higher than last week.
Tech
Microsoft Hires Sam Altman, after OpenAI rejects his return.
Backstory: OpenAI's board caused a stir last Friday by unexpectedly firing CEO Sam Altman. Even their major investor, Microsoft, which poured $13 billion into the ChatGPT developer, was kept in the dark.
The aftermath saw President Greg Brockman resigning in protest, leading to turmoil within this influential tech company.
The tech community's response was swift and supportive of Altman and Brockman by saying that OpenAI is nothing without its people.
The drama unfolded further when Microsoft, a key OpenAI investor, attempted to reverse the decision over the weekend but to no avail.
As a temporary move, OpenAI appointed Emmett Shear, former CEO of Twitch, to replace Altman.
The root of the dispute seemed to center on disagreements regarding Altman's aggressive expansion plans for ChatGPT, which unsettled some board members who favored a more cautious approach to AI development.
In a surprising twist, Satya Nadella, Microsoft's chairman and CEO, announced today that the company has hired Altman and Brockman to spearhead an advanced research lab.
This decision by Microsoft CEO Satya Nadella is viewed as a strategic triumph, transforming a challenging situation into a significant opportunity.
This way, Microsoft enhances its position in the AI sector.Bill Gates has won again? 🧐
News
Javier Milei, Bitcoin Advocate, Secures Argentine Presidency
Key points:
- Javier Milei won Argentina's presidential run-off with over 55% of the votes.
- Milei criticizes the central bank and endorses Bitcoin, while Massa had plans for a CBDC.
Javier Milei, known for his pro-Bitcoin stance, secured a significant victory in Argentina's presidential run-off election on November 19, defeating Sergio Massa.
Milei garnered over 55% of the votes, establishing a lead of nearly 3 million votes with 99% of ballots counted, as per Bloomberg.
His opponent, Economy Minister Sergio Massa, conceded defeat even before the final results were announced. Milei is set to assume office on December 10.
The election comes amid Argentina's persistent inflation crisis, with the peso experiencing a 140% annual inflation rate over the past year.
Milei, a vocal critic of the country's central bank, has condemned it as a fraudulent entity that facilitates inflationary tax by politicians.
Contrasting this, Milei champions Bitcoin as a return to private sector-controlled money, safeguarding against political misuse of inflation.
In contrast, if elected, Massa had proposed launching a central bank digital currency (CBDC) to address inflation.
This stance was markedly different from Milei's views on finance and cryptocurrency.
Takeaways:
- Milei's victory could signify a shift towards more cryptocurrency-friendly policies in Argentina.
- The election highlights the growing importance of digital currency and monetary policy in national politics.
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