The Scaramucci family has invested over $100 million in US President Trump's Bitcoin mining company. （Cointelegraph）

[Metaplanet CEO Says ETFs Will Not Undermine the Advantage of Bitcoin Treasury Companies] Metaplanet CEO Simon Gerovich posted on the X platform stating that ETFs rely on capital inflows for support; otherwise, the amount of Bitcoin held will not increase, whereas the amount of Bitcoin held by Bitcoin treasury companies remains constant. Gerovich believes ETFs are a 'static exposure,' different from the role of Bitcoin treasury companies, and will not undermine the advantage of Bitcoin treasury companies.

Michael Saylor stated that even if the price of Bitcoin falls to $1, they will not be liquidated and will continue to purchase Bitcoin to bring its price back up. （Bitcoin Archive）

[Fed Meeting Minutes to Reveal Rate Direction, Market Expectations Diverge] The Federal Reserve's October policy meeting minutes will be released next Thursday at dawn (UTC+8), as investor uncertainty over the U.S. interest rate path intensifies. Last month, the Fed lowered the benchmark interest rate to the 3.75%-4% range, but Chair Powell did not signal another rate cut in December. Previously, the market had priced in a 25 basis point rate cut in December, but Powell stated that further rate cuts by year-end are not a foregone conclusion, reshaping market expectations. Boston Fed President Collins questioned a rate cut next month, stating that the threshold for additional easing is relatively high. During the U.S. government shutdown, key economic data was not released, and Morgan Stanley analysts pointed out that the lack of data will leave the Fed facing an information gap in its December decision-making process.

[Japan Plans to Classify 105 Cryptocurrencies as Financial Products, Tax Rate Reduced to 20%] On November 16, Japan's Financial Services Agency plans to reclassify 105 crypto assets, including Bitcoin and Ethereum, as financial products and bring them under the regulatory framework of the Financial Instruments and Exchange Act. Currently, Japanese residents must report cryptocurrency earnings as 'miscellaneous income,' with a maximum tax rate of 55%. After reclassification, profits from token transactions will be taxed as capital gains, with the tax rate reduced to 20%, aligning with the tax rate for stock trading. According to reports, the proposal is expected to be included in the early 2026 budget plan.