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Senate President’s Wife, Mrs. Unoma Godswill Akpabio, Files Fundamental Rights And Defamation Suits Against Senator Natasha Akpoti-Uduaghan
The wife of the Senate President of Nigeria, Mrs. Unoma Godswill Akpabio, has filed multiple lawsuits at the High Court of the Federal Capital Territory, Abuja, against Senator Natasha Akpoti-Uduaghan. The suits allege a breach of fundamental rights and defamation stemming from statements made by the senator on the Senate floor and during a televised interview on Arise News.
In the fundamental rights suit (Suit No: CV/814/25), brought under Section 34(1)(a) of the 1999 Constitution (as amended) and Article 4 & 5 of The African Charter on Human And Peoples Rights (Ratification And Enforcement Act) Cap. A9, Laws of the Federation of Nigeria, 2004, Mrs. Akpabio seeks:
- A DECLARATIONthat the allegations made by the Respondent on the floor of the Senate on the 20th of February 2025 and subsequent scandalous and salacious allegations Arise News TV by the Respondent, constitute a flagrant violation of the fundamental rights of the Applicant guaranteed under Section 34(1) (A) of The Constitution of the Federal Republic of Nigeria, 1999 (As Amended), Article 4 & 5 of The African Charter on Human And Peoples Rights (Ratification And Enforcement Act) Cap. A9, Laws of the Federation of Nigeria, 2004, and Section 14 of the Violence Against Persons (Prohibition) Act, 2015.
- AN ORDER OF PERPETUAL INJUNCTIONrestraining the Respondent from making further inciteful, scandalous, and spiteful statements that have caused the Applicant and her children emotional and psychological abuse and living under constant threat and fear of their lives.
- AN ORDER OF PERPETUAL INJUNCTIONrestraining the Respondent, whether by themselves, their agents, privies, or howsoever from further inciteful, scandalous, and spiteful statements that have caused the Applicant and her children emotional and psychological abuse and living under constant threat and fear of their lives or in any other manner infringing on their fundamental rights.
- AN ORDERawarding the sum of N250,000,000,000.00 (Two Hundred and Fifty Billion Naira only) as exemplary, punitive, aggravated and general damages against the Respondent for her infringement of the fundamental rights of the Applicant alongside.
- Such further or other Orders as this Honourable Court may deem fit to make in the circumstance.
Additionally, in a separate defamation lawsuit (Suit No: CV/816/25), Mrs. Akpabio seeks:
- A DECLARATION that the Defendant’s act of claiming on national television, that the Claimant’s husband, who is the President of the Senate of the Federal Republic of Nigeria made sexual advances at her, without any proof of same, has damaged the reputation of the Claimant and indeed her entire family, bringing them into disrepute and opprobrium.
- AN ORDER OF THIS HONOURABLE COURTmandating the Defendant to issue a formal written retraction of the defamatory words and tender an unconditional apology to the Claimant and her family, to be published in 2 (two) nationally-read newspapers to wit: The Guardian and This Day Newspapers.
- AN ORDER OF THIS HONOURABLE COURT compelling the Defendant to pay to the Claimant the sum of ₦1,000,000,000.00 (One Billion Naira only) as punitive and exemplary damages for the ruinous effect of the Defendant’s defamatory words on the Claimant’s family’s reputation.
- AN ORDER OF PERPETUAL INJUNCTION restraining the Defendant from further uttering any defamatory words or causing to be uttered or spread, any defamatory words against the reputation of the Claimant’s family.
- ANY FURTHER OR ANCILLARY ORDER or other Orders as this Honourable Court may deem fit to make in the circumstance.
Ramadan Fast: Katsina Closes All Schools, Hisbah Warns Private Schools Against Disobedience
The Katsina State Government under Governor Dikko Umar Radda has announced the closure of all schools in the state for the Ramadan fast.
Naija News reports that all primary, secondary and tertiary institutions in the state were affected by the announcement.
In a statement, the Katsina Hisbah Board, on Thursday, warned private schools in the state against contravening the government’s order.
Hisbah’s Commander-General said that private lessons are not allowed to be held during the Ramadan fast.
“In accordance with Katsina State Government’s directive, all private schools are required to close for the Ramadan period to allow pupils to fully observe the holy month. The directives include extra lesson please.
“The Hisbah Board urges all school proprietors to strictly comply with this directive. Non-compliance will not be tolerated.
“May Allah accept our fast and grant us His blessings,” it read.
Naija News reported that Governor Bala Mohammed of Bauchi State also closed all schools in the state for the Ramadan fast.
According to the State’s Ministry of Education Information Officer, Jalaludeen Maina, the school closure was to allow students to focus on the Ramadan fast.
“Yes, we are closing all our schools and this is included in our 2024-2025 approved calendar for the academic session that our students are not going to do the Ramadan fasting while in school.
“The five-week holiday is for Ramadan fasting and immediately after the fasting, they will resume and continue with their academics.”
[NaijaNews]
kpabio vs Natasha: Very unfortunate it’s now about ‘bed’ – Shehu Sani
Former lawmaker, Shehu Sani has described as unfortunate the issue between Senate President Godswill Akpabio and Senator Natasha Akpoti-Uduaghan.
Sani said it is unfortunate the issue has become about “bed”.
The statement comes after Akpoti-Uduaghan accused Akpabio of sexual harassment.
The Kogi born senator made the allegation on Friday while fielding questions on Arise Television Morning Show programme.
Akpoti-Uduaghan alleged that Akpabio blocked her motions from being heard on the floor of the red chamber because she rejected his advances.
However, Akpabio denied the allegation through his media consultant, Kenny Okulogbo.
Reacting to the development, Sani, in a post on his X handle on Friday called for caution and restraint.
“It’s unfortunate that the Senate issue was simply about seat and now about bed. Need for caution and restraint,” Sani said.
[DailyPost]
My security detail has not been restored – Speaker Meranda
Speaker of the Lagos State House of Assembly, Rt. Hon. Lasbat Mojisola Meranda, has dismissed claims by Lagos State Commissioner of Police, Moshood Jimoh, that her security detail has been fully restored.
Speaking to journalists after a court hearing regarding a case filed by former Speaker, Hon. Mudashiru Obasa—which has been adjourned to March 7—Meranda clarified that she still lacks adequate security.
“I have my people with me and God is with me,” she stated. “At the moment, I have only three or four policemen, whereas my normal security detail includes 12 policemen, four DSS officers, and two anti-bomb experts. As of this morning, I still don’t have them.”
Addressing Obasa’s controversial presence at the Assembly the previous day, Meranda acknowledged his right to visit but condemned his actions. “He is still a member of the House, so he has every right to come. But invading and breaking into my office? That is a serious issue.”
She also criticized the plenary session conducted by Obasa, describing it as a “show of shame.” “In our job, we require a quorum. If you are sitting with just three or four members, that is nothing more than theatrics.”
On whether disciplinary action would be taken against Obasa, she remarked, “When we get to that bridge, we will cross it.”
Meanwhile, the Assembly premises remained heavily guarded by policemen, civil defense personnel, and supporters of Obasa.
I rejected N500m offers during my mother’s burial – EFCC chair
The Chairman of the Economic and Financial Crimes Commission, Olanipekun Olukoyede, disclosed that he turned down offers of about N500m from various individuals during his mother’s funeral in 2019.
Olukoyede spoke at the 38th Anti-Corruption Situation Room in Abuja on Thursday with the theme: Ethics, Integrity, Corruption Risk Assessments and Anti-Corruption at National and Sub-National levels: Sustaining the fight against corruption in Nigeria.
The programme was organised by the Human and Environmental Development Agenda Resource Centre, Kano State Public Complaint and Anti-Corruption Commission, ICPC, and EFCC with the support of the MacArthur Foundation.
Olukoyede explained that the substantial gifts, which included cheques and drafts, were sent to him by ministers, permanent secretaries, directors, and other high-ranking officials.
At the time, Olukoyede was serving as the Secretary of the EFCC.
He recounted that upon his return to his family home in Ekiti State, where the funeral took place, he discovered numerous cheques in a carton.
After reviewing the cheques, which amounted to nearly N500m, he decided to return them.
The EFCC chairman narrated, “I lost my mother in the year 2019 (in Ekiti State). We went for the funeral. I was the secretary of the EFCC then. People came. So I went to my place a day before the funeral service. By the time I got to my small compound, which I built several years ago before I joined the EFCC, I saw about 17 cows in my compound, including pregnant ones.
“When I got home, my gate man presented a box (carton) to me and inside it, I saw so many cheques and drafts from ministers, permanent secretaries, directors, DGs of agencies, etc.
“And so, I went in and showed it to my wife. She said, ‘Praise God’. I said, ‘Praise God for what?’ By the time we put all the cheques together, it counted close to N500m.”
Reflecting on the situation, Olukoyede expressed concern about the potential consequences if he had deposited the cheques into his account, particularly given his role in investigating the individuals who had sent them.
He explained that had the cheques been found in his bank account, it could have been used against him during investigations and cast doubt on his integrity.
He emphasised the importance of maintaining ethical conduct and transparency, especially in his position at the EFCC.
“I did the burial in September 2019. By July 2020, I was under investigation. Now, assuming all those cheques were paid into my account as traditional gifts and some of the MDAs that we were investigating in the EFCC, some of their directors and their DGs and their ministers sent cheques to me.
“Ordiarily, I mean for burial, some gave me one million, N20m and all of that. Even though that would not have influenced my decision if I was in a position to determine what would happen to their investigations, how would I have explained before a panel that they saw cheques paid into my account?
“So, assuming they found those cheques paid into my account, would it have been a good defence for me to say it was my mother’s burial when they were looking for me to roast? For me, that is what you call integrity. When you go beyond a level of expectation.”
Olukoyede also shared an example of rejecting bids from family members for auctioneering services during his tenure as EFCC Secretary.
He explained how both his brother-in-law, an international auctioneer, and his elder brother sought to participate in a government auction of forfeited assets. Despite the personal connections, Olukoyede insisted on adhering to conflict-of-interest rules, rejecting their applications.
He said, “My chairman then, we agreed that we should select a committee. So, we selected an assets forfeiture committee of about six directors, including myself as the chairman of the committee and a few other staff.
“We advertised for auctioneers. So, they applied. We were able to shortlist about 11 of them. My brother-in-law happens to be an international auctioneer. He applied. His application came to me. I saw it and I shredded it. So, my PA who knew him, called him and told him what I did, and for six months, he did not talk to me. So we did the auction.
“One of my elder brothers called me. ‘I heard you are doing an auction. I needed a truck for my business. I said, ‘Sir, go and read what we published.’ Conflict of interest. No staff of EFCC or immediate members of the family is allowed. He said no, they would use another name. I knew they could do that. I told him that I was not interested.
“After about eight months down the line, they set up a panel to investigate activities of the EFCC. My chairman and I were placed on suspension. They began to investigate what we did in the office. They investigated the particular auction I did in Port Harcourt. Now, assuming they found the name of my brother-in-law as one of the auctioneers. What would have been the result? Probably I may be in jail by now,” Olukoyede said.
[Punch]
Tinubu signs N54.99trn 2025 Budget into law
President Bola Tinubu has signed the 2025 Appropriation Bill of ₦54.99 trillion into law.
The signing ceremony took place on Friday at the Presidential Villa, Abuja, in the presence of the leadership of the National Assembly and other senior government officials.
The budget was passed by both chambers of the National Assembly on Thursday, February 13, after lawmakers increased it from the initial ₦49.7 trillion submitted by the President.
The 2025 Appropriation Act represents a 99.96% increase from the 2024 budget of ₦27.5 trillion.
2025 Budget breakdown:
Total Expenditure: ₦54.99 trillion
Statutory Transfers: ₦3.65 trillion
Recurrent (Non-Debt) Expenditure: ₦13.64 trillion
Capital Expenditure: ₦23.96 trillion
Debt Servicing: ₦14.32 trillion
Deficit-to-GDP Ratio: 1.52%
This budget marks a significant fiscal expansion, with increased allocations for capital projects and debt servicing.
[Vanguard]
[OPINION] Soludo’s Game-Changing Achievements In Anambra - Christian Aburime
![[OPINION] Soludo’s Game-Changing Achievements In Anambra - Christian Aburime](/media/k2/items/cache/daadddd319475116292cab68765a43bd_Generic.jpg)
If governance is a game, the skilled, brilliant ones know how to score goals that win the hearts of the people. Yet, true game-changers don’t play games. Today, Ndi Anambra has a worthy game-changer in Governor Chukwuma Charles Soludo, CFR, who has turned Anambra into a rocket blazing skyward, and he has done it in just two and a half years. With wallets thinner than a razor’s edge, he has avoided needless borrowing. Yet, over 739km of roads now slash across the state, 420km commissioned, gleaming with fresh asphalt, stonebased and cement stabilization. Flyovers rise like phoenixes, and the Zero Pothole crusade has banished ruts to memory. This is what good governance can engender; it is a revolution, debt-free and defiant.
Education is his holy grail. Governor Soludo has hired 8,115 teachers in an unprecedented manner in Nigeria, made public schools free, and spiked enrolment by 18.7%. Out-of-school kids? Down to a national low of 2.9%, with smart schools sprouting like digital oaks. Health is on the rise, too: five new hospitals, 326 upgraded health centres glowing with solar power, 1,000 medical professionals enlisted, and free antenatal care delivering zero maternal deaths. Anambra is now second only to Lagos in under-five survival.
Youth are Governor Soludo’s wildfire. The One Youth, Two Skills programme has produced 5,000 entrepreneurs, seed cash in hand, while 8,700 more train. The Solution Innovation District churns out 20,000 tech warriors, earning Anambra “Best State in Digital Technology” cheers. Security? Eight LGAs once choked by gunmen breathe free, and the newly launched ‘Agunechemba’ security offensive has driven kidnappers, ritual dealers, and cultists out of town Onitsha’s touts are now ghosts, with traders thriving free. Palm and coconut seedlings, 2 million to 130,000 households, revive an agro-empire, aiming to lift 500,000 families from poverty’s grip.
Fiscal wizardry seals the deal. BudgIT ranks Anambra tops in prudence, number one in southern ease of doing business, all without a borrowed kobo. His five-pillar agenda plan, security, infrastructure, human capital, governance, environment, isn’t a dream; it is a juggernaut, outpacing 33 years of state history. Water flows in cities again, a befitting Government House stands after 34 years jinx, and the Solution Fun City promises West Africa’s grandest entertainment world.
So, Governor Soludo is not here to play games but to change the game of governance for good. Anambra is now a massive construction site, a classroom, a clinic, a tech hub, and more, all at once. The man who once stacked $63 billion in reserves now stacks victories; proving lean times bow to bold minds. This is a legacy in overdrive, a governor who has turned scarcity into a supernova of progress. Indeed, the Solution is Here!
Bitcoin Sell-Off Could Be a Textbook 'Breakout and Retest' Play: Godbole
Remember the last time you went on vacation? After locking the door and heading toward your car, you likely turned back abruptly to ensure the lock was secure before continuing your journey.
Financial markets, led by a range of human emotions, exhibit similar behaviors. After a convincing move beyond a long-held resistance, assets typically return to confirm the validity of the breakout. That serves as a test of the strength of the former resistance-turned-support, following which bigger rallies unfold.
The "breakout and retest play" phenomenon is well-known across asset classes. Bitcoin's (BTC) ongoing sell-off might be just that – a healthy retest of the breakout point or the former resistance-turned-support of $73,757 breached in November.
In other words, the downward momentum could run out of steam at or closer to these levels, potentially setting the stage for a bigger run higher.
BTC has dropped over 15% to under $80,000 this month, exposing the former resistance-turned-support at $73,757. Prices broke above that level in early November, ending months-long consolidation after pro-crypto Donald Trump won the U.S. Presidential election.
The tendency of markets to retrace or revisit the breakout point before staging more enormous rallies has its roots in the behavioral aspects of investing.
People are generally risk averse when it comes to securing gains. So, when facing profits, traders quickly book those instead of allowing the winning trade to run wild. The so-called prospect theory explains why post-breakout rallies abruptly run out of steam, often leading to a retest of the breakout point. BTC holders have been taking profits around the $100K mark since December.
Now, as prices turn lower and near the breakout point, in this case, $73,757, market participants who missed the initial rally jump in, ensuring the level holds. The resulting bounce from the former resistance-turned-support draws in more and more buyers, potentially yielding a bigger rally.
That's precisely what happened in the third quarter of 2023 and August-September 2020.
On both occasions, the breakout and retest produced bigger rallies to new record highs. Traders, however, need to note that a failed retest or a lack of a meaningful bounce indicates underlying weakness that can evolve into a full blown downtrend.
Over the years, I have seen numerous examples of retests of breakouts/breakdowns leading to bigger moves in traditional markets.
Consider the yield on the 10-year Japanese government bond. It triggered a double-bottom breakout in January 2024 and revisited the breakout level multiple times before rising to multi-year highs.
The AUD/USD pair dived out of a major support trendline in December, hinting at a deeper slide. The pair bounced to the trendline resistance early this month only to see sharp losses this week.
[CoinDesk]
[OPINION] Should You Buy Dogecoin After Its Recent 55% Drop? - Anthony Di Pizio
![[OPINION] Should You Buy Dogecoin After Its Recent 55% Drop? - Anthony Di Pizio](/media/k2/items/cache/d9d559dd7e0f3ed78b5268799a940286_Generic.jpg)
Dogecoin (CRYPTO: DOGE) was the cryptocurrency industry's original meme-token. It was created as a joke by two friends in 2013, who were inspired by the "Doge" meme that was spreading across the internet like wildfire at the time.
Dogecoin has become a vessel for speculative investors because it has very little utility in the real world. Nevertheless, it managed to outperform most major cryptocurrencies in 2024 including Bitcoin, Ethereum, and XRP (Ripple):
Per the above chart, most of those gains came after Nov. 5, which is when Donald Trump won the presidential election after campaigning on a series of crypto-friendly policies. Dogecoin investors received a special cherry on top thanks to Elon Musk, which I'll discuss further in a moment.
However, the meme-token has plunged by 55% from its post-election peak. Could it be the ultimate buying opportunity, or a sign to run for the hills? Let's find out.
The Elon Musk effect
Elon Musk has supported Dogecoin since 2019. He often posts memes relating to the cryptocurrency on social media, partakes in friendly banter with other enthusiasts, and his electric vehicle company, Tesla, accepts it as payment for some merchandise.
On May 8, 2021, Musk even participated in a Dogecoin-themed skit on Saturday Night Live. The token soared to a record high of $0.73 during the show, at which point it was sitting on an eye-popping 15,769% gain for the year. However, it also happened to mark the peak -- it proceeded to lose more than 90% of its value in the months that followed.
That shouldn't be surprising given Dogecoin's highly speculative nature, and the token remained mostly dormant during 2023 and for most of 2024. But the presidential election last November ignited a fire under cryptocurrencies broadly, as Trump promised to make America the crypto capital of the world. The U.S. Securities and Exchange Commission has even started pausing some of its legal cases against crypto companies, suggesting the industry will have more regulatory freedom to invent new use cases to create value for investors.
Shortly after Trump won the election, he also announced that Musk will run an external agency called the Department of Government Efficiency, or DOGE for short. Its goal is to help the administration cut government spending in order to balance the budget. It has no role in the crypto industry whatsoever, but investors interpreted the name of the agency as a clear reference to Musk's favorite cryptocurrency, Dogecoin, which sent the token soaring.
Dogecoin lacks real-world utility
The key to creating value for any currency is adoption. Businesses need to accept it as payment for goods and services, because that gives consumers a reason to buy it and hold it. Unfortunately, only 2,025 businesses accept Dogecoin worldwide, and many of them are obscure providers of internet and crypto services, and even gambling websites. It's a drop in the bucket considering there are more than 350 million registered companies globally.
With well-grounded fears of a trade war swirling and causing volatility in the traditional financial sector as well as in cryptocurrencies, you don't have to be a particularly skittish investor to be concerned about your portfolio at the moment. Even quality assets like XRP (CRYPTO: XRP) and Bitcoin (CRYPTO: BTC) are showing some shakiness.
But between those two, if a full-on trade war actually does break out as a result of the Trump administration's policies, which one has a better chance of holding up, or perhaps even climbing? Let's analyze the argument for each, starting with XRP.
The setup looks bearish here
For XRP to gain in value, at least two things need to happen. First, banks and financial institutions need to buy and hold the coin, and they need to believe that doing so will help them avoid currency exchange fees as well as international money transfer fees; they need to see that using the crypto is a better option than legacy money-transfer technologies.
Second, those banks need to transact with one another regularly across international borders, thereby generating usage fees, which are paid back to the XRP network.
If there is a trade war, the incentives for the first scenario to continue occurring will remain the same, and there could be some positive effects for XRP. The actual size of each transfer may even increase, if parties need to include the costs of tariffs in their transfers. That won't necessarily generate much more in fees, though, as XRP only charges a fraction of a penny per transaction.
The problem here is that extensive tariffs may reduce the volume of goods exchanged as a result of buyers facing higher prices. With fewer goods exchanged, fewer international money transfers need to happen. And that means XRP will almost certainly generate less in fees if there's a trade war.
There's no rule that says the price of the coin needs to drop if that happens. But if trading volumes drop, it isn't good news for investors, which detracts from the argument for buying XRP if the trade situation worsens.
Is this coin a real safe harbor?
Bitcoin's price hasn't changed much at all over the last three months, which suggests that the market is ambivalent about its value holding up in a trade war.
And it's hard to articulate precisely how the coin's value would decrease if the barriers to trade became higher for the U.S., aside from a generalized retreat from risk assets that it might cause as investors give in to fear. It isn't used extensively as a medium of exchange for trade payments, or for much else. Nor would its core value-generation mechanisms -- scarcity and mining difficulty -- change whatsoever.
It's faintly possible to conceive of a deep recession in the U.S. driven by a trade war causing investors to dump their coins to help pay their daily expenses. But that isn't very likely, at least not at the moment.
What's more likely is that rising costs stemming from worse trade terms would reduce the capital that institutional investors would be willing to allocate to Bitcoin.
It's also entirely possible that investors would be more interested in buying the crypto as a result of any inflationary pressure caused by a trade war. If inflation becomes a major concern again, it might even send the coin significantly higher, since it's considered a hedge. Still, compared to harder assets like gold or other commodities, it's not clear that this coin will preserve its value very well in truly turbulent economic times.
Nonetheless, compared to XRP, Bitcoin has fewer risk surfaces if the trade situation continues to deteriorate for the U.S. So, if there's a big dip prompted by panic, it's probably smarter to be buying it than selling it. Investors should also keep in mind that trade wars end eventually, and that there isn't really anything about a trade war that detracts from the investment thesis for this coin.
2 Top Cryptocurrencies to Buy Before They Soar 120% and 190%, According to Certain Wall Street Experts
The overall cryptocurrency market has climbed 24% since the presidential election in November. Donald Trump embraced digital assets during his campaign and, while upward momentum has stalled in recent weeks, some Wall Street experts still anticipate big gains in XRP (CRYPTO: XRP) and Bitcoin (CRYPTO: BTC).
Dom Kwok, former Goldman Sachs employee and co-founder of blockchain education company EasyA, earlier this year said XRP had a good shot at replacing Ethereum as the second most valuable cryptocurrency. As of Feb. 27, Ethereum has a market value of $282 billion, while XRP has a market value of $128 billion. So, Kwok's prediction currently implies at least 120% upside in XRP.
Tom Lee, managing partner and head of research at Fundstrat Global Advisors, late last year said Bitcoin could exceed $250,000 in 2025 as spot Bitcoin exchange-traded funds (ETFs) and the incoming presidential administration help legitimize the cryptocurrency. As of Feb. 27, Bitcoin trades at $86,000, so his prediction implies 190% upside.
XRP: 120% implied upside
XRP is the native cryptocurrency on the Ripple blockchain, a platform built for cross-border payments and foreign currency exchanges. Most international payments are currently routed through the SWIFT (Society for Worldwide Interbank Financial Telecommunications) system, but the process often involves intermediaries that make transactions costly and time consuming.
Ripple designed what it believes is a better system. Its blockchain uses the XRP token as a bridge currency to enable faster, less expensive payments. While fewer than 200 financial institutions currently use the platform, adoption could increase when the lawsuit with the Securities and Exchange Commission (SEC) has been completely resolved.
To elaborate, the SEC sued Ripple in 2020, alleging it sold XRP as an unregistered security. In August 2023, a U.S. district judge issued a split decision, ruling certain transactions were exempt but others should have complied with securities laws. The result was a $125 million fine for Ripple, far less than the $2 billion the SEC wanted. But the SEC has since appealed the decision.
Importantly, Ripple recently introduced a stablecoin called Ripple USD (RLUSD). Its value is tied to the U.S. dollar, providing enterprises with a less volatile means of transacting on the Ripple blockchain. However, the stablecoin should still boost demand for XRP because the native cryptocurrency will be used to pay fees on RLUSD transactions.
Finally, several asset managers have submitted applications to the SEC to create spot XRP ETFs. Those funds would offer XRP exposure without the hassle and high fees associated with cryptocurrency exchanges. Bitcoin has gained more than 80% since the SEC approved spot Bitcoin ETFs in January 2024, and XRP could generate similar returns.
Here is the bottom line: I think XRP could double in 2025 but only if Ripple resolves its legal issues with the SEC and spot XRP ETFs win approval. Additionally, the Bank of Japan recently adopted XRP for cross-border payments, which should further legitimize its role in the financial system. Investors comfortable with risk and volatility should consider buying a very small position today.
Bitcoin: 190% implied upside
Bitcoin's market capitalization of $1.7 trillion make it the most valuable cryptocurrency by a wide margin. And it has become increasingly popular with retail investors and institutional investors since the SEC approved spot Bitcoin ETFs last year. Those funds attracted $37 billion in net inflows in 2024, and the iShares Bitcoin Trust from BlackRock was the most successful ETF launch in history, according to The Wall Street Journal.
Matt Hougan, chief investment officer at Bitwise, noted last year that institutional investors were adopting spot Bitcoin ETFs at "the fastest rate of any ETF in history." Indeed, recently filed Forms 13F indicate more than 1,100 asset managers held positions in the iShares Bitcoin Trust as of the fourth quarter, up from 600 in Q2.
That trend is particularly important because institutional investors have about $120 trillion in assets under management (AUM). Even a small fraction of that sum allocated to Bitcoin could drive its price much higher. BlackRock CEO Larry Fink recently said Bitcoin could hit $700,000 if more asset managers invested 2% to 5% of their AUM in the cryptocurrency.
Importantly, Tom Lee in November 2024 predicted Bitcoin could top $250,000 within 12 months. However, he also said the cryptocurrency may dip to $65,000 before soaring back toward $250,000. The first half of his forecast seems to be playing out in the market right now. Bitcoin earlier this year reached a record high of $109,000 but has since tumbled 21% to $86,000.
Here is the bottom line: I am skeptical about Bitcoin reaching $250,000 in 2025, but I do believe it will be worth more in the future. Patient investors comfortable with volatility and risk can buy a small position today. An allocation ranging from 2% to 5% of a portfolio is sensible.
[The Motley Fool ]