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Bitcoin (BTC) once again hit an all-time high today, with some predicting that it could surpass $120,000 before Donald Trump takes office. On the 15th (local time), the cryptocurrency analysis firm 10x Research projected through its official X (Twitter) account that "Bitcoin could reach $120,000 by January next year before Trump's inauguration." Regarding the basis for this, the report stated, "Last week, there was a massive outflow of Bitcoin from centralized exchanges, and MicroStrategy is expected to be included in the S&P 500 index following the Nasdaq 100 index. Additionally, the expansion of corporate Bitcoin adoption due to the application of the U.S. Financial Accounting Standards Board (FASB)'s fair value accounting standards for cryptocurrencies is also encouraging."

"The declaration of martial law and the military's entry into the National Assembly was a 'Black Swan' (an unexpected crisis) event. If political conflict, protests, and strikes prolong, it could lower Korea's growth rate forecast." Jon Pareliusson, the Korea-Sweden officer at the Organization for Economic Cooperation and Development (OECD), said in a written interview with the Korea Economic Daily on the 12th, "The economic impact of the martial law situation will depend on how quickly the political situation is resolved." Officer Pareliusson commented on President Yoon Suk-yeol's declaration of martial law on the 3rd, saying, "It made people and financial market participants reassess some fundamental assumptions they had about Korea," and "It is not surprising that there was an immediate reaction in the currency market." He continued, "Nevertheless, the parliamentary vote and the lifting of martial law, as stipulated in the constitution, greatly helped stabilize the situation and restore trust in Korea as an open democratic country with strong political checks and balances." He hinted that Korea's growth rate forecast could be adjusted downward depending on the duration of the aftermath of martial law. Earlier, the OECD presented Korea's economic growth rate for this year as 2.3%, down 0.2 percentage points from three months ago. Next year's growth rate was lowered by 0.1 percentage points to 2.1%. This forecast did not reflect the impact of martial law. Officer Pareliusson pointed out, "Ongoing political turmoil can negatively affect the economy in terms of uncertainty and credibility," and "If political conflict, protests, and strikes prolong, demand may shrink, and supply disruptions may occur, leading us to lower our growth rate forecast next." However, he added, "If the political situation is resolved quickly and with full respect for democratic institutions, trust will be restored, and the direct impact of public unrest will be limited." He explained, "When the candlelight protests in 2016-2017 led to the impeachment of President Park Geun-hye, demand was suppressed for a while, but it rebounded as the situation was resolved." Officer Pareliusson emphasized the need to respond swiftly to the rapidly changing domestic and international environment, such as the rise of protectionism. He advised, "Korea should actively work bilaterally and multilaterally to limit the impact of strengthened protectionism (due to Trump's re-election) while continuously securing and diversifying value chains." He also called for structural reforms to raise potential growth rates. He said, "Reforms to increase competition and make the labor market more inclusive and family-friendly will improve economic growth, welfare, and Korea's resilience to external shocks," adding, "This should be a top priority on the agenda of both parties." He also advised the political sphere. He said, "Polarized politics makes it difficult to address these tasks (structural reforms)," and "Both the ruling and opposition parties can benefit from better cooperation in the future."

"We should pay attention to the United Arab Emirates (UAE), a country where the digital and physical worlds can create synergy." Kim Seo-joon, CEO of Hashed (photo), stated this during a keynote speech at the Venture Stage of the Middle East's largest financial event, 'Abu Dhabi Finance Week (ADFW)', held in Abu Dhabi, UAE on the 11th. CEO Kim said, "Recently, people and companies are moving to countries with better regulatory environments to develop new technologies and finance," adding, "The UAE is a region where the government and the digital world are well harmonized, and it is the place where the most billionaires have gathered this year." He also saw that the government could create new synergies through blockchain. CEO Kim said, "Government, technology, and companies are the three important elements that make up society, but recently they have been in conflict rather than harmony," adding, "Blockchain technology, which is characterized by fairness and transparency, can solve this and create a better future." He explained that the UAE is a place where traditional and digital environments can harmonize, as it has a suitable environment for blockchain-related regulation and financial development. In particular, CEO Kim stated that as modern people spend more time in the digital world than in the physical world, the importance of blockchain technology is becoming more significant. He said, "Recently, money, IDs, content, and various property rights are being digitized," adding, "The number of users entering the digital world is much faster than in the physical world." He continued, "The problem is that a few large IT companies control users' data, which can threaten the fairness of much online data. AI development is also being developed by a few companies and countries, which can lead to bias," adding, "Decentralized technology will be the solution. Blockchain protocols cannot be arbitrarily changed and remain as they are," he emphasized. Meanwhile, Peter Abou Hachem, Head of Hub71, who took the stage for a panel discussion, introduced Abu Dhabi as a region that provides a unique environment where everyone can connect and collaborate. Hub71 is an accelerator under the Abu Dhabi government, collaborating with Hashed and supporting Korean Web3 companies. Peter said, "Abu Dhabi is interested not only in Web3 but also in the entire innovation industry," adding, "When innovative technology emerges, it provides the foundation to develop it. It creates an ecosystem necessary for startups, and this ecosystem plays a role in helping startups succeed." In particular, Abu Dhabi is explained to have a geographical advantage as it is located at the crossroads of the Middle East, Asia, and Africa, differentiating it from other tech hub regions. Peter said, "Abu Dhabi is a unique place where you can meet everyone you need with one or two meetings on a small island," adding, "Hub71 has attracted more than 200 startups and 100 partners so far and is helping startups focus on creating the right value through programs like 'Hub71+Digital Assets' and 'Hub71+AI' that support global Web3 companies." It was also predicted that blockchain technology, along with AI and quantum computing, will emerge as promising industry trends in Abu Dhabi within the next 3 to 5 years. Philippe Bekhazi, Founder of XBTO, who discussed with Peter, said, "Fields such as AI and quantum computing will be integrated into one, and as a result, many people will benefit greatly," adding, "Putting everything on the blockchain will be an important trend. Payment systems will eventually move to blockchain-based systems." He added, "I think Abu Dhabi is a great place to conduct in-depth technology experiments."  'ADFW 2024', held from December 9 to 12, was sponsored by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Executive Committee, with Abu Dhabi Development Holding Company (ADQ) participating as the main partner. The event was attended by over 20,000 leaders and senior executives from the financial services industry, managing assets worth over $42.5 trillion. It consisted of more than 60 events and 350 thematic sessions, featuring 600 influential speakers. The most notable speakers included Ray Dalio, Founder of Bridgewater Associates, and Larry Fink, Chairman of BlackRock. In addition, senior officials from the Abu Dhabi government, as well as heads of prominent financial institutions such as BlackRock, Morgan Stanley, HSBC, Citigroup, BNY, Lunait, First Abu Dhabi Bank (FAB), and Aldar, took the stage. Abu Dhabi, UAE = Yang Hanna, Bloomingbit Reporter