BitMEX co-founder and macro-market analyst Arthur Hayes is deploying his dry powder into Bitcoin sooner than previously planned, according to his latest blog post. Hayes argued that despite his fears of a future crypto market retracement, there is still an opportunity to profit now from the ongoing risk asset rally that began last month. The...Read More
The US-based cryptocurrency miner Riot Blockchain produced 740 BTC last month, a 62% increase compared to January 2022 and a new monthly all-time high for the company. The positive start of the year contrasts the disappointing production levels and shrinking revenue towards the end of 2022. Hitting an ATH Despite experiencing issues with its mining...Read More
Ordinals – a new and controversial Bitcoin-based protocol – is making its mark on-chain with a record number of Taproot-related transactions, according to the blockchain data provider Glassnode. Nevertheless, the debate is still hot within the Bitcoin community as to whether the technology should be celebrated or cursed. The Popularization of Ordinals Ordinals were designed...Read More
American business intelligence company MicroStrategy has recorded another quarterly loss after calculating the value of its Bitcoin portfolio. According to a Bloomberg report, MicroStrategy recorded a net loss of $249.7 million, narrowed down to $21.93 a share, in Q4 2022. The firm’s revenue declined by 1.5% to $132.6 million, going lower than the estimated drop....Read More
The crypto market has been on a roll lately as major cryptocurrencies like Bitcoin have witnessed significant price swings in the last few days. The Bitcoin price trend has been stuck in a choppy range as it swings sideways with 1% volatility, creating a blurred vision for long-term holders. The primary reason behind this intense...Read More
Bitcoin miners located in Texas reportedly suffered severe disruption of their operations due to a blizzard that battered the region. The extreme weather conditions prompted them to switch off their machines to preserve the local power grid. The Cold Winter in Texas Surprised Crypto Miners As reported by Bloomberg, the ice storm that hit “the Lone...Read More
A three-year low was reached in the market when FTX crashed, wiping away billions in client deposits. As a result of the FTX fiasco, Bitcoin fell to $15,500 and appeared to be headed considerably lower. Bitcoin has since recovered and posted considerable returns and is now hovering near the $23k mark. However, the market appears...Read More
Randall Crater – the Founder of the fraudulent cryptocurrency business “My Big Coin” – will spend 100 months in jail. Federal prosecutors previously insisted his punishment should have been 13 years. Crater Defrauded Investors With Over $7.5 Million U.S. District Judge Denise Casper in Boston ruled that Crater should stay in prison for more than eight years...Read More
As the crypto market brings a worrying situation by trading on the verge of a flip price range, investors are keeping a close eye on leading assets: Bitcoin and Ethereum. With the weekend approaching at a fast pace, several analysts are wondering if BTC and ETH prices will be able to make a bullish comeback...Read More
Marathon Digital Holdings – one of the leading bitcoin miners – mined 687 BTC in January 2023, a 45% increase compared to the last month of 2022. However, the company shifted from its non-selling strategy, parting with 1,500 BTC to cover operational expenses. Change of Plans Marathon started the year by producing 687 BTC in January, a...Read More
Tulip Trading – a Seychelles-based company founded by Craig Wright – has successfully brought its case against multiple Bitcoin developers to trial in the United Kingdom. Wright’s firm alleges that these developers owe “fiduciary duties,” or “duties of care” to police and control the Bitcoin network. The Duties of Bitcoin Developers The ruling, handed down...Read More
Charlie Munger, the Vice Chairman of Berkshire Hathaway and Warren Buffett’s right-hand man, reiterated his stance against Bitcoin and the entire crypto industry. This time, the American billionaire investor urged the United States government to ban all cryptocurrencies as they are bound to cause more harm than good. Munger Attacks Again In an opinion published...Read More
Ray Dalio – founder of Bridgewater Associates – doubts Bitcoin’s ability to work as money, and thinks it receives outsized attention compared to the size of its market cap. That said, the billionaire believes the existing monetary system is “in jeopardy,” due to excessive money printing by central banks globally. Bitcoin: Not Related to Anything...Read More
Lebanon is adopting a new official exchange rate, devaluing its local currency by nearly 90%. The new rate is set at 15,000 Lebanese pounds against the U.S. dollar, according to a January 31 report, which cited a statement from the country’s central bank governor, Riad Salameh. This marks a significant shift from the old rate...Read More
The crypto market is currently flashing a mixed signal where most of the large cap cryptocurrencies have turned red. However, the first two cryptocurrencies, Bitcoin and Ethereum, are still holding on to their crucial level of $23,000 and $1,500 area. At the time of writing, Bitcoin has dropped 0.15% and is now trading at $23,082. Meanwhile,...Read More
Strike – a Bitcoin payment company and wallet provider – has expanded its “Send Globally” feature to the Philippines, allowing locals to receive lightning-based remittances directly to their bank account. This marks the second-wave rollout for Send Globally after its initial release to Africa in December. Fixing the Remittance System In a press release published...Read More
Digital-asset products saw inflows totaling $117 million last week, according to the crypto investment firm CoinShares. This marks the largest inflow recorded since July 2022. Subsequently, the total asset under management (AuM) increased to $28 billion, recovering by 43% since the lows of November. Bitcoin-tied investment funds alone recorded $116 million in inflows last week....Read More
The popular Bitcoin price analyst Plan B has outlined a scenario that he predicts could propel Bitcoin’s price up to $1 million in the year 2025. At a minimum, he expects the asset to rise above $100,000 that year – over 300% above its current price. Return to the Bull Market In a video published...Read More
The price of bitcoin (BTC) in Nigeria has significantly increased beyond the global market valuation amid growing demand for the asset among citizens in the West African country. At the time of writing, BTC was trading at 17.5 million naira (approx. $38,005) on the leading Nigerian cryptocurrency exchange NairaEX. This means that Nigerians have to...Read More
As the last year made heart-stopping dips and now the stunning recoveries in the price chart, many investors are left questioning the future trend of the market. However, the bullish reversal in the market’s sentiment has once again sparked rays of hope of a potential comeback from its bottom price range. These Coins May Bring...Read More
Bitcoin prices have held onto recent gains this weekend, lifting to a new high for the year during the Monday morning Asian trading session. The move has placed another cohort of BTC buyers into the profit zone. According to Glassnode, those that bought Bitcoin in 2019 are back in the green again. The average withdrawal...Read More
Senior United States District Judge William Fremming Nielsen sentenced the 56-year-old American Ronald Craig Ilg to eight years in federal prison. The latter hired hitmen on the Dark Web to kidnap his wife and beat his former colleague, and paid them over $60,000 worth of bitcoin. Maximum Penalty for the Doctor The US Department of...Read More
The LOOP Design Awards reportedly recognized the Bitcoin City of El Salvador’s government as one of the most outstanding projects in interior design and architecture. When completed, the metropolis will use the energy released from the Conchagua volcano to power itself and BTC as its currency. Bukele’s Dream City Gets an Award According to recent coverage,...Read More
Bitcoin payment and wallet company Strike has partnered with fintech giant Fiserv to integrate Bitcoin’s lightning network with the point-of-sale terminal provider, Clover. This will allow certain Clover merchants to accept lightning payments, expanding Bitcoin’s use case as a medium of exchange. Dollars Over Lightning As explained by Strike CEO Jack Mallers over Twitter on...Read More
US Bitcoin Corp – a North American Bitcoin mining firm – has been ordered to cease operations by a State Supreme Court Justice, or face penalties of $10,000 per day. If the miner continues to operate through the end of January, the fine will increase to $25,000 per day. US Bitcoin Under Fire As reported...Read More
It was just yesterday that Bitcoin was pulled back below its crucial resistance of $23K. However, the flagship currency started the day above $23K before making a slight drop around $22,900. The similar pattern is followed by Ethereum, BNB, Cardano, Solana, XRP and other altcoins which are trying their best to hold on to their...Read More
Tesla, the electric car company led by Elon Musk, did not sell the remaining of its Bitcoin stash, as it was supposed to do during the 4th quarter of 2022, according to a filing published by the Securities and Exchange Commission (SEC). Tesla’s BTC holdings should be priced at around $245 million, which would be...Read More
El Salvador, the first country to use Bitcoin as a legal tender, earlier this month passed another legislation to establish a legal framework for a Bitcoin-backed bond known as Volcano Bond. Through this bond El Salvador plans to pay its sovereign debt, sponsor the Bitcoin city construction and create Bitcoin mining infrastructure. Today, the country’s...Read More
Certain Bitcoin investors are selling while they can after the primary cryptocurrency reclaimed $23,000 earlier this month, according to Glassnode. The blockchain intelligence provider’s latest report reviews recent on-chain behavioral patterns exhibited by both short and long-term holders. Exiting While They Can The newsletter, posted on Monday, begins by examining Bitcoin’s price, which have reclaimed...Read More
Nayib Bukele – the President of El Salvador – revealed that the government repaid its $800 million bond plus interest the same day it was set to mature. Settling the bond comes despite the pessimistic views that the nation will experience financial challenges due to its bitcoin forays. ‘We Just Paid in Full’ El Salvador’s...Read More
