The Mayor of Cool Valley, a city in Missouri, is planning to distribute bitcoin worth up to $1,000 to the inhabitants. However, there is a condition attached to such a plan. Five-Year HODL Condition According to a report by local news outlet KSDK on Thursday (August 19, 2021), Jayson Stewart has revealed intentions to give...Read More
This week was entirely positive in the cryptocurrency market as almost everything is trading well in the green. It wasn’t without its hurdles, so let’s jump straight to it. Bitcoin managed to push towards $48K last Friday, but the week was filled with choppy price action and a somewhat expected downturn. By Thursday, BTC’s price...Read More
Australian detectives from the Criminal Proceeds Squad have seized a record-breaking haul of bitcoin worth nearly A$8.5 million (more than $6 million) in Victoria. Local media reported Friday that the seizure was the largest amount of cryptocurrency ever confiscated by police in Australia and was part of an investigation into online drug trafficking on the...Read More
BlackRock, a $9 trillion multinational investment behemoth, has purchased considerable stakes in two BTC mining firms – Marathon Digital Holdings (MARA) and Riot Blockchain (RIOT). The institution, which has previously shown an appetite for the crypto industry, has put approximately $383M in both. Citing a mandatory filing with the Securities and Exchange Commission, Forbes reported...Read More
A few months after dabbling with the idea of getting on the cryptocurrency bandwagon, Wells Fargo has filed documents with the US Securities and Exchange Commission to launch a designated Bitcoin fund. According to the filing with the Commission, the US financial institution has partnered with FS Investments and New York Digital Investment Group (NYDIG)...Read More
The number of cryptocurrency-related companies aiming to go public continues to increase, with the latest example being Iris Energy Pty. The firm, focused on green Bitcoin mining, has filed with US regulators for a direct listing on Nasdaq this year. Based in Sydney, Australia, Iris Energy is a Bitcoin mining firm that “owns and operates...Read More
According to ‘PlanB’, the brainchild behind the highly debated Bitcoin stock-to-flow model, the bull market is not over yet. In a tweet on August 18, the analyst posed an update of the model showing that target white line and on-chain pricing signals indicate that we are still in the middle of this cycle. The target...Read More
After filing with the SEC to receive approval for a Bitcoin ETF in April this year, Galaxy Digital has reportedly tried again – this time, under a different section. Novogratz’s company wants to launch a Bitcoin futures-only exchange-traded fund. Bloomberg’s senior analyst, Eric Balchunas, took it to Twitter to highlight Galaxy Digital’s latest attempt to...Read More
El Salvador’s decision to adopt BTC as a legal tender has rattled the cages in Central and South America. Argentina’s president was the latest to showcase support to some extent in a recent interview. Speaking to the local media outlet Caja Negra, Alberto Fernandez touched on the topic of digitalization and where the country stands...Read More
A $400 billion investment management firm, Neuberger Berman, recently announced adding exposure to Bitcoin and Ether derivatives and investment vehicles as part of the firm’s fund strategy. Another Hedge Fund to Join Crypto The SEC filing outlines that the asset manager will receive exposure to cryptocurrency via a subsidiary firm —with a minimum investment of...Read More
The Massachusetts Mutual Life Insurance Company has doubled down on its BTC endeavors through a partnership with New York Digital Investment Group. Both parties aim to enable institutional clients of the insurance behemoth to receive BTC exposure. According to the announcement dated August 11th, the insurance broker, founded a decade and a half ago, has...Read More
The global investment management company VanEck has filed again for a Bitcoin Strategy exchange-traded fund (ETF). The US firm has tried several times in the past few years but the SEC is yet to approve a single BTC ETF. New York-based investment firm VanEck submitted an application to the SEC to roll out a BTC...Read More
The large US movie theatre chain, AMC Theatres, will add bitcoin as a payment option by the end of the year, said the organization’s CEO Adam Aron. Thus, the number of global brands adopting BTC keeps growing after the recent announcements from Philipp Plein, Sheetz, Quiznos, and more. Founded in 1920, AMC Entertainment Holdings is...Read More
A few hours ago during early trading in Asia, Bitcoin prices tapped $47,200 according to Tradingview. It is the highest the asset has changed hands for since May 15. The move has built upon the momentum that began in late July when BTC broke out of its range-bound channel to the upside. At the time...Read More
A recent survey informed that nearly 60% of the participants are willing to employ digital assets as a payment method for goods and services. Furthermore, two-thirds entered the cryptocurrency market with plans to use the tokens for transactions. Payments: Crypto Better Than Credit Cards The interactive platform for financial services – PYMNTS.com – and the...Read More
With new regulation and taxation on the cryptocurrency industry coming from the U.S., the situation just took another turn as President Joe Biden openly supported the highly unfavorable amendment proposed earlier by Senators Mark Warner and Rob Portman. Biden’s backing seems to target proof-of-stake assets, while mining appears untouched. Sitrep: Taxation and Regulation on Crypto...Read More
It was an exciting week in the cryptocurrency market with a lot of developments – both in terms of price and otherwise. Bitcoin went through a correction but managed to recover, while Ethereum’s long-anticipated London hard fork went live officially. Starting off with BTC’s price, the week was rather intense. Last weekend, we saw the...Read More
Customers of the German fashion company Philipp Plein International AG will get the chance to buy products in digital assets instead of fiat money. The supported virtual currencies will be 15 and will include the leading ones – Bitcoin and Ethereum. ‘Cryptocurrencies Are The Future’ In a recent Instagram post, the fashion group Philipp Plein...Read More
The cryptocurrency platform Bitbns intends to open a systematic investment plan (SIP) in digital assets for Indian athletes who win medals at the ongoing Tokyo Olympics. The exchange will reportedly grant around $2,700 in crypto for gold medal winners. ‘Faster, Higher, Stronger’ And Earn Crypto The Economic Times reported that Indian athletes at the Olympic...Read More
A Russian court ordered Sberbank to restore access for a customer involved in Bitcoin trading. The authorities added that the largest bank in Russia should not have blocked the account as the client had provided all the necessary information about his cryptocurrency operations. Sberbank Had No Right to Ban The Account The Sverdlovsk Regional Court...Read More
There has been a fair bit of profit-taking since Bitcoin prices topped $42K over the weekend. The asset has declined 9% since then, and on-chain behavior can be analyzed to get a better outlook on overall market sentiment. Analytics provider Glassnode has been doing just that in its latest on-chain report. The key question is...Read More
Though the Justice Department declined to comment for the article, Bloomberg was able to report last week that the DOJ is investigating U.S. banks and the backers of popular stablecoin USDT. There is some ongoing speculation about how this might affect bitcoin’s price. What’s Supposedly Going on With Tether and the DOJ? The Justice Department...Read More
The financial institution Wealthfront announced it would expand its menu of digital asset investments by including Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE). Additionally, the company would provide more solutions to its customers with cryptocurrencies different than BTC and ETH. Wealthfront Customers Can Now Invest in GBTC and ETHE The California-based investment provider...Read More
Bitcoin has initiated another leg up, resulting in charting a new two-month high of just over $42,000. Apart from Chainlink, most alternative coins trail behind, and BTC’s market dominance has increased to well above 48%. Bitcoin Taps a 2-Month High As reported earlier this week, bitcoin went on a tear after dabbling with the $33,000...Read More
GoldenTree Asset Management, a US asset management giant with $45B in AUM, has reportedly purchased portions of the primary cryptocurrency. The move aims to diversify some of the organization’s already existing strategies. Founded over two decades ago, GoldenTree is an asset manager headquartered in New York City with offices in numerous other important financial cities...Read More
Going through the recent week and touching the $40K mark, there are some promising signs in on-chain data that could lead to a further price recovery in the market. However, some metrics still make an immediate rally back to the all-time high a questionable probability. Let’s explore the bull and the bear case for Bitcoin’s...Read More
After weeks of prolonged consolidation and choppy sideways action in a very squeezed and narrow range, Bitcoin finally broke out. Fortunately, it was to the upside. Over the past week, BTC is up by a considerable 20%. At the time of this writing, it’s trading at around $39K, having pulled back slightly from the psychological...Read More
The NASDAQ-listed software giant MicroStrategy has seen a total impairment loss of nearly $700 million in Q2 2021 from its massive bitcoin investments. As this is only on paper, though, the company pledged to double down on its BTC strategy and continue to accumulate more. MicroStrategy’s Q2 BTC Impairment Loss Michael Saylor’s brainchild has become...Read More
Bitcoin Bitcoin saw an impressive 20% price hike this week as it reached the $40K resistance level. The cryptocurrency penetrated above a descending wedge formation last Thursday and continued above the 20-day MA level last Friday. Since breaking the wedge, BTC surged higher inside an ascending price channel as it broke the 50-day MA level...Read More
BTC’s recent 9 daily candle streak to the upside has been very impressive. We have been tracking the third-largest BTC whale wallet and found interesting activity and signals. The whale entity, at one point, held over 116,841 BTC. Its current total BTC holdings stand at 113,841. The recent sales from this address since April 2021...Read More
