Bitcoin

El Salvador is buying more Bitcoin - this time, for the meme. Nayib Bukele, President of El Salvador, said that the country is buying 21 BTC - to mark a special occasion. In particular, Tuesday marked the 21st day of the 21st year of the 21st century. https://twitter.com/nayibbukele/status/1473489844521385985 The Bitcoin transaction in question happened on 21/21/2021 at 9 PM and amounted to 21 Bitcoin. The eccentric president also pointed out that El Salvador's size is 21,000 km2. Coincidence? I don’t…

Texas continues to establish itself as the world’s new premier Bitcoin mining hub. The City of Albine recently announced a partnership with Lancium – a Houston-based energy infrastructure company – to build a $2.4B data centre. The centre will also host Bitcoin mining, among “other energy-intensive applications”. More Mining in Texas As reported by KTXS12 News, the data centre is to be the largest Albine city project to date. The project – titled “Project Artemis” – will begin at 200…

Jack Dorsey, the CEO of Block, thinks Bitcoin will replace the dollar. The tech entrepreneur, and the founder and former CEO of Twitter, replied to the question by the rapper Cardi B. The rapper and songwriter asked if crypto would replace the U.S. dollar. Dorsey, a known Bitcoin maximalist, said that it will. Specifically, he believes the crypto that will replace the dollar will be Bitcoin. https://twitter.com/jack/status/1473089482576564225 The reply prompted some 800 comments and got 13k likes. Other crypto enthusiasts…

Just as Bitcoin’s hash rate recovers to new all-time highs, the network may be in for another massive security boost. Paraguay’s Senate has passed a bill permitting Bitcoin mining within the country. This may allow the nation to put its massive energy surplus to work, both securing the network and earning Bitcoin. Mining in Paraguay Senator Fernando Silva – co-author of the bill “That Regulates Industry and Commercialization of Cryptocurrencies” – announced its passing on Thursday. The legislation should recognize…

The world’s most significant hedge fund founder wasn’t always keen on crypto, but he now believes it has earned its keep. Ray Dalio recently told Market Watch that a blockchain revolution would happen, given everything Bitcoin has survived already. This was part of a broader conversation about the perilous state of inflation and the Federal Reserve’s lack of solutions. Bitcoin Is The New Gold Dalio touched on crypto Thursday while covering its evolution into a “political statement” against irresponsible monetary…

As expected, massive inflation prompted the Fed to turn hawkish on inflation. On Wednesday, the Federal Reserve stated that it would speed up the removal of monetary policy support. This includes tapering its $90 billion monthly bond purchases and hiking interest rates. Interest rates are currently at historic lows of 0.25%. What influenced the decision is likely the steep rise in inflation numbers. November CPI, a measure of consumer prices, rose 6.8% compared to the same period last year. Moreover,…

Despite underwhelming Bitcoin prices this December, Kraken CEO Jesse Powell remains bullish on its appreciation long-term. In a recent interview, he stated that the dollar is “is going to zero.” Also, he added that seeing Bitcoin under $40k would simply be a buying opportunity. His comments respond to the out of control US inflation, which the Fed has promised to stop asap. Buy The Dip Powell made his bold prediction in an interview with Emily Chang of Bloomberg Technology on…

Though Bitcoin remains in a price slump since last week’s crash, institutional adoption still looks bullish for long-term holders. Most recently, Idaho Central Credit Union (ICCU) partnered with NYDIG and Alkami Technology to implement Bitcoin buying and selling services. ICCU is rapidly growing, with 480 000 members in 44 locations across the state. Another Credit Union Adopts Bitcoin Alkami Technology – the involved cloud-based digital banking services provider – announced the news on Wednesday. The company provides banking companies with…

The Twitter account of Indian Prime Minister Narendra Modi was a target of a hacker attack on Sunday. Hackers gained access to the history and posted a tweet about Bitcoin: India has officially adopted bitcoin as legal tender. The government has officially bought 500 BTC and is distributing them to all residents of the country The tweet came amid a debate on crypto regulation in India. Just a few months ago, it seemed that India was about to ban crypto.…