Once considered an attractive country for Chinese Bitcoin miners after the country’s crackdown on any BTC mining activity, Kazakhstan now seems to be set to creating new taxes that will negatively impact the industry. On April 14, the Minister of National Economy, Alibek Kuantyrov, said in a government briefing that his team is working on...Read More
PlanB, the creator of the bitcoin Stock-to-Flow (S2F) model, implied that only a black-swan incident could drag the price of Bitcoin down to $24,500. The anonymous Twitter pseudonym in the past has missed Bitcoin’s price predictions on some occasions, but his bullishness on the asset still remains intact, asserting that it could reach $100K at...Read More
Cryptocurrency exchange Bitfinex, in collaboration with USDT issuer Tether, recently launched a digital asset fund and donated over $1 million in bitcoin to assist families in El Salvador affected by the ongoing gang violence in the country. Crypto Relief Fund Initiative is Bootstrapped With 25 BTC Bitfinex chief technology officer (CTO) Paolo Ardoino revealed that...Read More
Terra seems nowhere near concerned regarding the ongoing crypto dip. Instead, it topped up its bitcoin reserves with an additional purchase of $100 million worth of the asset. Earlier this year, Do Kwon – Founder and CEO of Terraform Labs – revealed the company’s intentions to introduce a stablecoin (UST), which will be backed by...Read More
According to research conducted by KuCoin, the growing number of Nigerians investing in crypto is propelled by the lack of proper fiat-based opportunities. The study revealed that over 30 million of Nigeria’s population had traded digital assets in the past six months. The Reasons Behind the Adoption KuCoin’s latest “Into the Cryptoverse Report” found out...Read More
According to a recent research conducted by Nasdaq, 72% out of 500 financial advisors will be more likely to invest client funds in digital assets if the US watchdog greenlights a spot ETF. Among those already part of the market, 86% said they will increase their exposure over the next 12 months. Spot Bitcoin ETF...Read More
The Luna Foundation Guard (LFG) pool has bought Bitcoin yet again. The pool currently holds almost 40,000 BTC, worth some $1.675 billion at the time of this writing. Luna’s LFG pool has added another batch of Bitcoin to its stash – over 4,000 BTC, to be precise, which is worth some $176 million at the...Read More
US Rep. Norma Torres (D-CA) introduced the Senate Accountability for Cryptocurrency in El Salvador Act (ACES) Monday. Rep. Rick Crawford (R-AR) co-sponsored the bill. Rep Torres averred: “El Salvador’s adoption of Bitcoin is not a thoughtful embrace of innovation, but a careless gamble that is destabilizing the country.” The bill instructs the State Department and...Read More
The United States could lose its preeminent financial and political influence in the world as other sovereign powers make haste to legalize and adopt Bitcoin as their reserve currency. The threat to America is not merely a matter of leaving an (increasingly plausibly) enormous amount of money on the table. Bitcoin is the largest ever...Read More
One of the most successful tennis players of all time – Serena Williams – teamed up with Block Inc’s money transfer service provider – Cash App – to provide women and people of color with further financial access to bitcoin. She praised the primary cryptocurrency as the leader in the industry, calling it a ”super-strong...Read More
Mikhail Mishustin – Russia’s Prime Minister – believes the Russian population collectively holds more than 10 trillion rubles ($130 billion) worth of cryptocurrencies. He assumed that most of those individuals were from the younger generations. 7% of Russians are HODLers Apart from being in the global spotlight due to its “special military operation” in Ukraine,...Read More
Ricardo Salinas Pliego – the third-wealthiest person in Mexico – revealed he had allocated 60% of his liquid portfolio to bitcoin and bitcoin equities. The billionaire is a strong opponent of fiat currencies and bonds, calling the latter a “terrible investment.” Salinas is Pro-Bitcoin and Anti-Fiat The Chairman of Grupo Elektra and the owner of...Read More
The autonomous region of Portugal – Madeira – and Prospera – a jurisdiction on Honduras’ Roatán island – will reportedly adopt bitcoin as an official payment method inside their borders. Residents from both territories won’t have to pay capital gains tax when buying or selling the primary cryptocurrency. Following El Salvador’s Path Bitcoin’s global popularity...Read More
Block, formerly named Square, and Blockstream team up to mine bitcoin off Tesla-supported solar power in Texas, as reported by CNBC. Bitcoin mining is seen as an activity that incentivizes the monetization of renewable power production. Tesla’s 3.8 megawatts solar PV array, along with 12 megawatt-hours Megapack, will power the bitcoin mining facility located in...Read More
Michael Saylor, the CEO of Microstrategy, and Cathie Wood, CEO of Arch Invest, held a panel at the Miami 2022 Bitcoin conference on Thursday. The two tech investors shared an optimistic vision for the largest cryptocurrency, setting ambitious price targets. “People ask me if I’m still bullish on Bitcoin. I am more bullish than ever...Read More
After purchasing over $1 billion worth of bitcoin in weeks, Terra has turned its sights to other cryptocurrencies. Both Terraform Labs and the Luna Foundation Guard announced plans to execute in total two token swaps worth $200 million with Avalanche. CryptoPotato reported the frequent BTC purchases from Terra, as the team wants to build up...Read More
Kevin O’Leary spoke at the Bitcoin 2022 Conference, voicing support for bitcoin and renewable proof-of-work mining. He believed regulations introduced by Bipartisan lawmakers could remove the uncertainty investors have felt towards the sector. Regulations on Cryptocurrency Incentivize Capital Inflow Kevin O’Leary, the famed investor and media personality nicknamed “Mr.Wonderful,” touted his support of renewable crypto...Read More
The president of El Salvador – Nayib Bukele – canceled his appearance at the Miami Bitcoin conference. The leader explained that “unforeseen circumstances” in his home country require his presence. State of Emergency in El Salvador The ongoing Miami Bitcoin Conference will not see the presence of one of the biggest proponents of the leading...Read More
The Ultimate Fighting Championship (UFC) announced it will distribute new bonuses for athletes that will be paid in bitcoin. The crypto awards will go to the top three fighters fans have voted for. Fight Night Bonuses in Bitcoin The UFC continues to engage further with the cryptocurrency industry. It disclosed new “Fan Bonus of the Night,”...Read More
PayMaya – one of the leading digital financial services platforms in the Philippines – rolled out a cryptocurrency feature on its app, allowing customers to deal with bitcoin and altcoins. The initiative aims to educate locals about the merits of the asset class and grant them access to it. PayMaya Enters the World of Crypto...Read More
With Bitcoin exchange balances at multi-year lows and whale-sized purchases by MacroStrategy and Luna Foundation Guard, this week’s BTC fundamentals are positively bullish signals. Bitcoin Exchange Outflows at Historic Levels Outflows from Bitcoin exchanges this week reached historic levels for the world’s oldest and most sought-after cryptocurrency. In a weekly blockchain insights newsletter Tuesday, on-chain...Read More
The newly developed processor for the proof-of-work algorithm can deliver up to 580 GH/s hash rate and can operate up to 26 J/TH power efficiency. The tech giant believes the new processing chip, Blockscale ASIC, will be a gamechanger that empowers blockchain applications to maintain decentralization via proof-of-work while asserting the principle of environmental sustainability....Read More
Frankfurt’s Central Office for Combating Cybercrime (ZIT) and the Federal Criminal Police Office (BKA) conducted a joint operation against the Russian Darknet Marketplace “Hydra Market.” The authorities shut down its server infrastructure and seized over $25 million worth of bitcoin. ‘Hydra Market’ is Down According to a federal police statement, German law enforcement agents “secured...Read More
The California Macintosh and iPhone maker is in the process of ramping up its proprietary financial services technology and increasing Apple’s lending to iPhone users of Apple Pay. This is according to a Bloomberg report from earlier this week. The Cupertino high-tech giant sounds serious about the project, dubbing the effort “Breakout” and seeking to...Read More
According to the global investment manager Van Eck, the prices of bitcoin and gold could skyrocket to record highs if fiat currencies lose their dominance. Specifically, BTC could start trading between $1,300,000 and $4,800,000, while the yellow metal could tap $31,000 per ounce. Bitcoin’s Price if it Replaces Fiat It is safe to say that...Read More
Michael Saylor, CEO of business intelligence firm MicroStrategy, believes that the financial market is not ready to have a Bitcoin-backed bond. Meanwhile, El Salvador has postponed the launch of its BTC-backed volcano bonds. Now is Not the Time for a Bitcoin-Backed Bond In a recent interview with Bloomberg, the MicroStrategy CEO, while not generally opposed...Read More
Bengal Energy – a Canadian-based oil and gas company – will reportedly deploy energy from “stranded” gas wells into bitcoin mining operations. The firm also intends to set up 70 BTC mining rigs inside a portable building (known as “donga”) near the Cooper Basin. Bengal Energy Jumps Into BTC Mining Cryptocurrency mining has been a...Read More
One of the largest derivatives trading platforms has indeed proceeded with releasing options on Micro Bitcoin and Micro Ether futures, as promised earlier this month. The company outlined the growing investor demand for such products as the main reason behind the launch. CryptoPotato reported earlier in March CME Group’s intentions to launch options on Micro...Read More
The lack of knowledge among common investors about cryptocurrencies and how to safely invest in them is resulting in a growing number of frauds. In a recent example, the Crime Investigation Department (CID) of Ahmedabad Police in India’s Gujarat province registered a case where the victim was duped of Indian Rupees (Rs.) 22 lakh (approximately...Read More
There’s been a lot of discussion surrounding EU’s proposed MiCA regulations, especially the text that was aimed at outlawing proof-of-work cryptocurrencies like Bitcoin. Now, the law is moving forward but without these clauses. A Relief for Bitcoin in EU The European Union’s (EU) proposed Markets in Crypto Assets (MiCA) regulatory package has decided not to...Read More
