Bitcoin

Last week, Western Union, the world's largest money transfer service, announced it would be suspending its U.S. dollar transfer service to Cuba following the Trump Administration's latest sanctions.  Fresh reports today revealed that the remittance giant has finally closed its 407 locations across Cuba after more than 20 years of operation. This means U.S. customers can no longer send money to Cuba, and Cuban users will no longer receive funds.  According to Reuters, the remittance market is Cuba's third-largest revenue…

Ripple (XRP) has joined the bullish run that has engulfed the crypto market since October. The popular altcoin peaked today at $0.53, its highest price since 2019. It is also the best performing major crypto asset of the week, with a price rise of 83% during this period. Ripple Experiencing A Renaissance The recent bullish trend for Ripple has been remarkable and shows that the coin is gaining relevance among traders. Ripple began the past week, struggling within the $0.3…

Popular American retired rapper, songwriter, and author, Sir Robert Bryson Hall II, professionally known as Logic, bought bitcoins worth several millions of dollars last month. According to the reports, the rapper revealed his BTC investment in an Instagram Live video, saying that he "bought $6million in Bitcoin last month. Fuck it, YOLO." Logic's Investment Paying Off The bullish move now places the rapper in at least $1 million profit, depending on what time he bought the assets in October.  In a…

Having money to buy Bitcoin is one thing, but understanding it is another. Although Bitcoin's concept comes easy to some, others like billionaire Masayoshi Son still struggle to comprehend the idea even after investing millions in the cryptocurrency.  Masayoshi Son, the CEO of Japanese conglomerate SoftBank, revealed yesterday that he "doesn't understand" Bitcoin. But surprisingly, Son once invested $200 million in the digital asset.  The Price Checking Habit Speaking at the New York Times DealBook conference, the billionaire noted that…

Bitcoin was first introduced in the financial world in 2009 by Satoshi Nakamoto. Over the years, the platform has been growing and advancing into mainstream adoption, attracting millions of daily users and transactions. It has hit a market capitalization of 337  billion US dollars at the time of writing. Many business moguls, celebrities, and movers and shakers of the global economy have contributed positively to making bitcoin great. Some use their institutions to invest in bitcoin or implant bitcoin as their…

Is Bitcoin a financial haven in times of crisis? In times of disasters or financial crises, stock prices fall, interest rates decline, and debt amounts. Investors often scramble to safety by looking up to "safe haven" assets such as gold to hedge their portfolios' value. Cryptocurrency investors view Bitcoin as the digital gold providing a reliable fallback in times of crisis.  As the COVID-19 continues ravishing the world's economy, many economists believe that a recession is imminent. Several economists believe…

The push toward the mass adoption of cryptos continues to gain momentum. Governments and prominent business leaders who had reservations about their adoption are warming up to the industry now. It's easy to see why these developments cause so much excitement. These stakeholders influence significant populations in their areas of operation. Consequently, their endorsement of crypto transactions is a massive shot in the arm for the efforts geared toward their mainstreaming. PayPal is the latest major player in the crypto…

Bitcoin is currently the largest and the most trusted digital currency, garnering a market capitalization of over 325 billion US dollars. Various billionaires and celebrities have endorsed bitcoin in the past, showering it with the praises of being a dependable investment prospect. The coin is mostly common for its volatile nature, which creates opportunities for investors to earn supernormal amounts over time. Its price has also plunged every end of the year in the past few years.  But what causes…

Bitcoin’s rise in the past few weeks has been an exciting ride for traders and investors who have been able to rack in profits. However, the recent developments in the last 24 hours show the thin line between profits and losses. $805 million Liquidated Bitcoin made quick gains in the early hours of the day, surging past the $18,000 barrier to set a new yearly high of $18,472.  Soon after achieving this milestone, Bitcoin suffered a flash crash within minutes,…