Bitcoin

Cathie Wood’s investment management firm Ark Invest released its monthly report analyzing various market dynamics surrounding Bitcoin on Tuesday. It listed a few reasons Bitcoin’s price may have reached its cyclical bottom – one of which is that miners supposedly finished capitulating.  The Mining Bomb Per the report’s words, Bitcoin’s hash rate “suggests that miners are no longer in capitulation mode.” “Miner capitulation began in June 2022 and appears to be complete—a dynamic historically correlated with a high-conviction bullish environment,”…

Popular gold bug and crypto-critic Peter Schiff called out Michael Saylor for his continual advocacy of Bitcoin on Monday.  He suggested that the executive chairman of MicroStrategy ought to face charges from the Securities and Exchange Commission (SEC) for his actions.  Pumping Crypto Securities Schiff’s comments were a response to the SEC’s reveal of charges against the American celebrity Kim Kardashian on Monday. Kardashian agreed to pay nearly $1.3 million for failing to disclose her paid promotion of the crypto…

Per a report from the Cambridge Center for Alternative Finance (CCAF), fossil fuels have been the primary energy source for BTC mining since the start of the year. The CCAF recently updated its Cambridge Bitcoin Electricity Consumption Index (CBECI).  Its study claims that 62% of all the energy the leading token has consumed so far consists of coal-based energy. BTC’s Energy-Intensive Mining Bitcoin employs the proof-of-work consensus mechanism to create new tokens and validate transactions on the blockchain. The PoW…

Strike – a Bitcoin payments company and digital wallet provider – has closed an $80 million funding round led by Ten31.  The funds will bolster the company’s efforts to “revolutionize payments” for the payment industry’s biggest players.  According to a press release, both Washington University in St. Louis and the University of Wyoming also partook in the raise.  The funding leader, Ten31, is a Bitcoin and lightning infrastructure provider that’s invested in numerous other Bitcoin native companies like Blockware, Swan,…

According to historical records detailing domain purchases under professional anonymity provider AnonymousSpeech, Bitcoin could have been Netcoin instead.  Nakamoto May Have Been Torn Between 2 Names The data revealed that on August 17, 2008, a day before Satoshi Nakamoto created Bitcoin.org, Netcoin.org came into existence. AnonymousSpeech is a Japanese service that allows users to purchase domain names anonymously. Twitter user @Orweinberger made a post on Friday to reveal the new findings. They reportedly discovered the information while going through all…

The Bitcoin bullish software company MicroStrategy is building Bitcoin lightning network wallets that can be deployed to enterprises.  The company’s executive chairman and former CEO Michael Saylor shared details on the tech in a recent interview. In an uncharacteristic fashion, he also offered some short/medium-term price predictions for Bitcoin. MicroStrategy Builds on Lightning As Saylor told MarketWatch in an interview on Wednesday, the company’s wallet software will let business owners distribute Bitcoin to thousands of employees in a single afternoon. …

Jamie Dimon – CEO of JP Morgan Chase – had more unkind words for the digital asset market on Wednesday.  The bank executive called cryptocurrencies such as Bitcoin “decentralized ponzi schemes,” and suggested that they aren’t currencies at all.  Banker VS Bitcoin During congressional testimony, the CEO reiterated his historically anti-crypto stance after it was mentioned by a lawmaker.  “I’m a major skeptic on crypto tokens, which you call currency, like Bitcoin,” said Dimon. “They are decentralized Ponzi schemes.” [caption…

Prolific Bitcoin supporter Michael Saylor says Bitcoin is a better investment option than any physical asset for commoners. According to the entrepreneur, only those who come from royalty can handle the numerous factors involved in owning physical property.  The former CEO of MicroStrategy outlined some setbacks involved in transferring property like stocks, equity, real estate, or gold. Speaking at the Australian Crypto Convention, Saylor contrasted these physical assets against Bitcoin. He opined that Bitcoin is a more adaptable asset to…

Leading investment firm Fidelity is set to offer its massive customer base the chance to trade Bitcoin through its online brokerage service. The news emerged via a report from Wall Street Journal which highlighted sources with ties to the company.  Speculation is Still Ongoing Fidelity manages roughly 34.4 million brokerage accounts, making it one of the biggest investment management firms globally. According to reports, the company is considering bringing BTC trading options to its retail investors. Such a move would…