Bitcoin

While large institutions are adding Bitcoin to their company’s balance sheet, cities are not left out. In a tweet, the Mayor of Miami, F Suarez, expressed appreciation to the Miami authorities for supporting his resolution to add Bitcoin to the city’s balance sheet. Bitcoin For Salaries and Taxes He said, “I wanna thank the city of Miami commissioners for supporting my resolution which directs the city manager after analysis to procure a vendor to be able to offer our employees…

Sandeep Biswas, CEO of Newcrest Mining, one of the world's largest gold mining companies,  suggested that crypto investors should consider buying gold to hedge against the crypto market's high price volatility. In an interview today, Biswas told Bloomberg that part of the reason crypto investors should acquire the popular bullion is that its value is more stable. According to the CEO, owning gold will be in the best interest of cryptocurrency investors. Hedging Against Price Volatility Biswas’ comment comes on the…

BNY Mellon, the oldest bank in America, has revealed that it would be moving into cryptocurrencies. This Move is a major one for the crypto industry as it continues the rapid adoption of crypto-assets by traditional financial institutions.  Crypto custodial services The custodial bank revealed on Thursday that it would be launching a crypto-based custodial service. This service will help hold, transfer, and issue crypto-assets, including bitcoins, on behalf of its institutional clients.  BNY Mellon will also enable the transfer…

Twitter CFO Ned Segal has hinted that the Social Media giant could add bitcoin to its balance sheets. This comes on the back of increasing demand for bitcoins from institutions in recent weeks.  Twitter could join Bitcoin Train Segal revealed this stance in an interview with CNBC on February 10, 2021, when quizzed about cryptocurrencies. The Twitter chief stated that the tech giant might consider bitcoin depending on a few factors.  Segal explained that if Twitter employees and clients request…

English football club Southampton has entered an agreement with cryptocurrency betting firm Sportsbet.io. The partnership will expose Southampton fans to cryptocurrency and create an engaging experience during matchdays.  Fans Based Partnership Sportsbet.io intends to take advantage of the partnership by leveraging the Premier League club's popularity. The betting firm wants to redefine fans' experience using virtual reality technology and blockchain technology.  The Covid-19 pandemic has affected Southampton fans since they cannot attend home games due to the fear of contracting…

Tesla’s groundbreaking $1.5 billion investment in Bitcoin has reignited Miami Mayor Francis Suarez’s plans to add the world’s largest cryptocurrency to the city’s balance sheet. Suarez tweeted yesterday that the plan of delving into the asset class will be deliberated at the city’s commission meeting scheduled for Thursday.  “@elonmusk’s announcement was beneficial...now all we need is for @amazon to adopt and then,” Suarez added.  The mayor made this known in response to a tweet made by famous Bitcoin proponent Anthony…

Tesla's $1.5 billion purchase of Bitcoin (BTC) on Monday blew the leading cryptocurrency price. The FOMO is in full swing, to the point that the big exchanges are struggling to meet up with the demand for bitcoins.  Bitcoin Price Surges to $48,000 Tesla's purchase of bitcoins yesterday surprised the entire market as it was unexpected. However, its effect on the market was expected as the price of bitcoin began an upward rise. Within a few hours, Bitcoin had blown past its…

Less than a week after Elon Musk pumped bitcoin's price via a Twitter bio update, fresh reports revealed that Tesla has purchased a whopping $1.5 billion worth of bitcoin.  According to an official SEC filing published today, the Elon Musk-led company stated that it had acquired the digital currency after updating its investment policy to provide it with "more flexibility to diversify further and maximize returns." Tesla also added that it has the option of allocating some of its funds…

Christine Lagarde, President of the European Central Bank (ECB), has given her opinion on bitcoin (BTC). Lagarde believes that Bitcoin is a speculative asset and not worth the current hype surrounding its use. Volatile And Speculative Asset  Lagarde expressed her views on Sunday, February 7, on local french station BFM TV where she spoke on different financial topics. The ECB chief revealed that she considers bitcoin a superficial but highly speculative asset that robs investors. She further added that the leading coin…