Bitcoin

Apple reportedly plans to reduce its reliance on outside financial companies by building out new services in-house. Apparently, one of the developing services is related to payment processing technology. Could this technology involve the Bitcoin network? Recent behavior from Jack Mallers – CEO of Strike – hints that his company may play a role. Apple’s New Services As reported by Bloomberg, insiders say that Apple’s effort is focused on new products rather than current ones. They include everything from payment…

Michael Saylor – CEO of MicroStrategy – recently expanded on his company’s newly established, Bitcoin collateralized loan with Silvergate bank. He suggested that the loan was his company’s next best option besides Bitcoin-backed bonds. However, he doesn’t believe financial markets are ready yet for such a product. The Loan vs. the Bond MicroStrategy is the largest individual holder of circulating Bitcoin in the world (with the possible exception of one mystery whale). On Friday, the company resumed its efforts to…

Terra – the fiat-pegged stablecoin protocol – purchased another $135 million in Bitcoin on Monday to add to its reserves. This coincides with Bitcoin’s push to $48,000, breaking through the $45,000 that Bitcoin has been under since early January. Terra’s purchase is part of its effort to build a $10 billion Bitcoin reserve to back its US dollar stablecoin, TerraUSD (UST). UST is currently backed by LUNA. However, it is pivoting to Bitcoin to avoid risks of a future debt…

Pierre Poilievre – Canadian MP and front-runner for Conservative leadership – is showing support for Bitcoin. This is part of his campaign to combat growing inflation in Canada. On Monday, the politician visited a Shawarma shop in London, Ontario to purchase a meal using the cryptocurrency and promised to make Canada the “blockchain capital of the world.” Addressing Inflation With Bitcoin Inflation is a focal point of Poilievre’s campaign. He frequently notes the record CPI increases experienced by Canada in…

Bitcoin underwent a sudden surge this week, and looks ready to break the $45k resistance that has kept the crypto market quiet for months. Strangely enough, an altcoin protocol appears the likely cause of the price action. Terra recently decided to fundamentally change the nature of its UST stablecoin’s price support – by backing it with Bitcoin. As such, they’ve recently begun their plan to absorb as much as $10 billion in Bitcoin off the market. Understanding Terra Terra is…

Bitcoin is inevitable – but we all come to terms with it at a different pace. Here’s how that reconciliation process will probably look for you. (Article inspired by a tweet from @skwp) There are two types of people: those who love Bitcoin, and those who are irrationally frustrated with and baffled by its success. There are also plenty of people that don’t spend much time thinking about Bitcoin at all – but they won’t last for long. With both…

With inflation skyrocketing, many people are debating what to do to protect their assets. In particular, investors and regular people alike are debating whether or not cryptos like Bitcoin are a good hedge against inflation. This includes tech billionaires like Elon Musk and Michael Saylor. Inflation in the US has reached the highest level since 1982. In February, consumer prices rocketed up 7.9% on a yearly basis. The trend is a result of the Fed’s unprecedented pandemic stimulus, which could soon…

A half-ancient Bitcoin address – created while Satoshi was still active – abruptly spent all of its coins yesterday night. Its once 489 Bitcoin balance has been reduced to zero, having been moved elsewhere. The transaction marks the first time the wallet saw any activity since last June and the first time that any coins have ever been spent from the address. The first time the wallet received coins was in October of 2010, when a whopping 489 Bitcoin was…

The US Bureau of Labor Statistics just released the nation’s price statistics for February 2022 – and they don’t look good. The all-items Consumer Price Index (CPI) is running at 7.9% over the last 12 months – the hottest in over 40 years. More Record-Breaking Inflation The bureau releases its monthly inflation report at 8:30 am EST approximately 10 days into each following month. The CPI tracks the average prices for a basket of commonly purchased consumer goods including food,…