More institutional investors are betting big on bitcoin as the digital currency rallied. From gaining acceptance by corporations as a primary reserve asset, the cryptocurrency is now making its way to the portfolio of some of the world’s largest hedge funds. Last month, Bridgewater Associates founder and Ray Dalio called bitcoin an “amazing accomplishment” and...Read More
Cryptocurrency platform OKEx announced another crypto-promoting project –the Bitcoin Lightning Network. It will focus on downsizing transaction fees and reducing time for their execution. OKEx is Aiming at Low Transaction Costs and Promptitude OKEx, the leading cryptocurrency platform and derivatives exchange is to integrate the Bitcoin Lightning Network in the next quarter. The project represents...Read More
Jack Dorsey, a long-term bitcoin enthusiast and unarguably one of the most influential proponents of the digital currency and its underlying technology, is now actively contributing to the bitcoin network. After introducing Bitcoin to Cashapp and announcing plans to release an open, decentralized standard for social media, the Twitter CEO is bringing his admiration for...Read More
This week was undoubtedly an altcoin party. Even though Bitcoin is up quite a bit in the past seven days, it was altcoins that stole the show, charting major increases almost every single day. Let’s start with BTC, though. It began the week at around $34,000 and was rather indecisive in the first few days,...Read More
News emanating from Nigeria reveals that the country’s central bank has allegedly placed a ban on buying and selling cryptocurrencies. A circular disseminated by the Nigerian Central Bank has revealed the apex bank’s intention to clamp down on bitcoin buying and selling. The Central Bank issued a memo signed by its Director of Finance and...Read More
An Australian man, founder of two multi-million crypto funds in New York, pleaded guilty on a crypto scam charge. The Ponzi scheme used a trading algorithm, taking advantage of price differences for Bitcoin and other cryptocurrencies. Draining almost $90M From Investors According to a recent report, Stefan He Qin organized the fraud that stole about $90...Read More
A 49-year old U.S. individual has pleaded guilty to a scheme, defrauding hundreds of investors with millions of dollars via a scheme involving bitcoin and cash. In two and a half years, he managed to fraudulently exchange at least $13 million. Illegally Exchanging Tens of Millions of Dollars A 49-year-old man from L.A. pleaded guilty...Read More
Scammers are targeting Discord users on crypto-focused servers, through private messages that appear to come from fake exchanges that are giving away Bitcoin and Ether. A new report from Kaspersky stated that the perpetrators even went to great lengths to make the fake site appear as convincing as possible. The message contains a link that...Read More
Japanese giant SBI Group will include a new addition to its crypto lending service via its subsidiary VC Trade. Apart from the other options, Bitcoin (BTC) and Ethereum (ETH), the organization’s customers will be able to deposit XRP to earn interest as well. Adding XRP to the List of Bitcoin and Ethereum Lending Japanese giant...Read More
With Ethereum trading at a new all-time high, and PayPal enabling crypto payments for its 26 million merchants worldwide, this year has already been marked by significant events to signal crypto adoption. Bobby Ong, Co-founder of crypto data aggregator CoinGecko, recently shared his predictions for 2021. According to him, this will be the year that...Read More
Over the past year, portfolio diversification has been an ardent topic of discussion. The rise of Bitcoin led to various debates about its inclusion in present-day investment holdings. While many traditional analysts are skeptical of a massive allocation for the crypto, some Bitcoin proponents would come across as over-ambitious putting 100% of their capital in...Read More
Bitcoin is trading close to $38000, and the break from the rangebound price level came as a relief earlier this week. On Tuesday, the price hit $37000 and trading beyond $35000 allowed Bitcoin’s price rally to break away from the resistance. As traders gear up to predict the impact of the current price trend on...Read More
Bitcoin is not volatile when compared to fiat currencies, college education, or even real estate, commented the Executive Chairman of NYDIG, Ross Stevens. During an appearance on MicroStrategy’s Bitcoin Educational Conference, the executive also predicted that his organization could top $25B in BTC under management by the end of the year. Stevens: BTC Is Not...Read More
Bitcoin broke past the resistance at $35000 and is currently trading close to $38000. This break came with the standard reference and comparison with Gold, however, since GameStop’s nearly unstoppable price rally, #SilverSqueeze was breaking the internet. Following which there was a sizeable surge in interest and trading volume for silver, as traders expected the...Read More
Regardless of its volatility, and the criticism from prominent regulators, Bitcoin has garnered attention from the likes of Elon Musk and other mainstream influencers in the past few weeks. In the words of Marshall Hayner, CEO of Metal Pay, Bitcoin is on its “fourth wave” of adoption. The chief exec believed that the asset reached...Read More
Under the leadership of CEO Michael Saylor, MicroStrategy, which is a leading Bitcoin investor has been lauded for driving mainstream BTC adoption. It appears that the firm has been navigating Bitcoin markets using its own strategies. Almost every time Bitcoin dipped in price, the firm took advantage of market conditions and increased the value of...Read More
Over the past couple of months, there has been a lot of discussion around how the Bitcoin rally is currently being driven by whale traders and institutions. The inclusion of long-term hodlers also comes into the picture, but from the perspective of long-term growth, widespread adoption remains vital. Amidst the current rally, keeping track of...Read More
MicroStrategy has been buying consistently throughout Bitcoin’s journey to $40,000 and beyond. What’s different this time, however, is that as of 31 January, cumulative treasury holdings captured a total of 5.85 percent of Bitcoin’s supply. So, how will this influence the current market cycle and the next? Source: Ecoinometrics Before adding Bitcoin to its balance...Read More
Over the past year, institutional investment is what many believe drove Bitcoin’s price to reach new ATHs. Moreover, new research found that the asset’s price surges seem to be driven less by hype and have instead gained more trust, based on data from 2017. Among its many conclusions, ARK Invest stated in its “Bitcoin: Preparing...Read More
Indecisiveness is the current market sentiment for Bitcoin. While some metrics indicate that a 2nd bullish rally might be incoming, other factors are suggestive of further corrections. With Bitcoin continuing to consolidate in the mid-$30k range, the reset of certain metrics and accumulation activity might project a potential change in the crypto’s price. Grayscale is...Read More
Most discussions on the subject of Bitcoin’s institutional involvement always hint at the common objective of these institutions. These organizations are clubbed together under one idea, that they believe in the assets, and they want to attain exposure into crypto through Bitcoin. It is not a false narrative, but over the past few months, most...Read More
Bitcoin’s second attempt at making it past $40,000 failed last week, with all eyes now on the cryptocurrency’s next big move. Interestingly, while BTC was trading at $34,855 at press time, outflows from spot exchanges were up too. In fact, 15,000 BTCs have flown out of Coinbase at the $32,400-price level. Such significant Bitcoin outflows...Read More
A month after crypto fund manager Bitwise surpassed $500 million in assets under management (AUM), the asset manager now filed for regulatory approval to list its Bitcoin fund on OTC markets. If the fund gets the green light, it plans to offer Bitcoin exposure to investors at lower-cost with an expense ratio that is 0.50%...Read More
Dealing with market volatility is common in the case of Bitcoin and the current narrative is heading in a similar direction. While the market is still in a considerably bullish bracket, the likelihood of a reversal keeps floating about in the space. Now, according to recent data, a major change may be afoot, one that...Read More
Business intelligence firm MicroStrategy acquired additional Bitcoin worth about $10 million in cash on 2 February. The company made the purchase at an average price of approximately $33,810 per Bitcoin. The development follows MicroStrategy’s earlier purchase made on 22 January 2021. According to its last announcement, MicroStrategy acquired $10 million worth of Bitcoin, paying roughly $31,808...Read More
Grayscale has been at the head of a lot of Bitcoin-related developments over the past few months. It is in the news again today after its GBTC premium turned negative for the first time after its launch in 2013. The aforementioned premium represents an “overpayment” on behalf of mostly institutional buyers that seek Bitcoin exposure,...Read More
The upcoming Bitcoin Educational Conference organized by Michael Saylor’s MicroStrategy has seen massive interest from CEOs and other executives. Saylor informed that all attendees would benefit from MicroStrategy’s playbook on how to utilize the BTC Monetary Network. CEOs Interested In MicroStrategy’s BTC Educational Campaign CryptoPotato reported in mid-January MicroStrategy’s latest pro-Bitcoin initiative, which aims to...Read More
According to the United States Department of Justice (DoJ), a man from Ontario, California, has agreed to plead guilty to federal charges of illegally operating a crypto exchange. On 29 January, the DoJ release stated that the accused, 49-year-old Hugo Sergio Mejia was also pleading guilty to money laundering offenses in United States District Court....Read More
Gold and Bitcoin supporters are likely to keep arguing with each other as both gold advocates and Bitcoin maximalist stick to their own school of thought. Recently, MicroStrategy CEO, Michael Saylor predicted that in the future, investors are more likely to opt for Bitcoin over the yellow metal. In an interview with Andrew Henderson of Nomad...Read More
Cryptocurrencies ranging from Bitcoin to joke, token Doge, have seen much mainstream support in the past week. After Elon Musk said “he was a supporter of Bitcoin” and OnlyFans star Mia Khalifa bought Doge, another new celebrity has shown support for the coins. This time it was Gene Simmons, from the rock and roll band...Read More
