Day: February 10, 2021

Bitcoin is a ‘masterpiece of monetary engineering’ Michael Saylor tells Austin Davis

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The financial and economic narratives surrounding Bitcoin (BTC) barely scratch the surface of what makes the digital asset so unique, according to Michael Saylor, CEO of MicroStrategy.  In an exclusive interview with Austin Davis for Cointelegraph, Saylor calls Bitcoin “a masterpiece of monetary engineering,” and one that will likely go down in history as the world’s “first engineered monetary network.” “Once you understand money is monetary energy and you understand Bitcoin is a monetary energy network, then you start to appreciate the fact that it either does or does not…

Jack Dorsey commits $1M to Coin Center on top of Grayscale’s $2M donation

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2021 is shaping up to be a generous year for cryptocurrency donations. On Wednesday, Coin Center, the leading cryptocurrency nonprofit in Washington, D.C., announced that it had raised millions in additional funding from high-profile names in the crypto industry.  Jerry Brito, Coin Center’s executive director, tweeted that his organization had received enough donations to claim the $1 million in matched contributions from Grayscale Investments, the world’s largest crypto fund manager. Less than three weeks ago, Grayscale announced that it had donated $1 million to the advocacy group and pledged an…

XRP & Stellar Lumens HUGE News! Latest BIG Partnerships! Price Analysis & More!

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io In this video I go through a few big articles involving XRP & Stellar Lumens! how Big things are coming, Multiple partnerships, So far XRP & XLM have been on fire recently! but is the market heading towards a correction? We look at my reasons as to why I think they could be massive, we also look at a BIG articles involving XLM & XRP new PARTNERSHIPS! they could We also take a look at the biggest news for these crypto’s As…

Nigerian Bitcoin Traders Flock to P2P Exchanges Following Ban

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Nigerian bitcoin (BTC) traders have vowed to continue plying their trade on peer-to-peer (P2P) exchanges and other alternative channels in the wake of the blanket ban on digital currencies by the country’s apex, the Central Bank of Nigeria (CBN). Nigerian Bitcoiners Defiant  As reported by BTCManager, on February 5, 2021, the Central Bank of Nigeria issued a circular reminding all financial institutions under its purview that it is prohibited to facilitate transactions for bitcoin-linked businesses in the country.  Following the draconian directive, all Deposit Money Banks (DMBs), Non-Bank Financial Institutions…

More People HODLing Bitcoin Hurts Case for Buying, Selling With It, Says Morgan Stanley

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Bitcoin liquidity appears to be falling as the demand that has driven the recent bull market appears to be concentrated among a relatively small number of investors who are unwilling to sell, according to new research by Morgan Stanley. That lack of liquidity potentially hurts its use for transactions, the investment bank said. Addresses holding amounts of bitcoin worth more than $1 million are on the rise, with wallets holding over 100 bitcoin owning over 60% of all coins issued. Almost 30% are held in wallets that hold between 1,000…

Blockchain Bites: The US vs. Bitcoin?

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Three stories 1. Tesla caught a lucky break in announcing its $1.5 billion bitcoin purchase when it did. The auto giant is reportedly being investigated by Chinese authorities over safety and quality concerns, news that came to light the same day headlines were dominated by Tesla’s treasury, according to CoinDesk markets reporter Muyao Shen. Media gadflies, like NYU economics professor Nouriel Roubini, have criticized Tesla and bitcoin. Speaking on CoinDesk TV this morning, “Dr. Doom” raised questions about “market manipulation” – including CEO Elon Musk’s public comments on crypto and…

How BTCST Provides In-demand Exit Options for Bitcoin Miners

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The world is in search of yield. As central banks continue to print more and more fiat currency, people are being forced to look to alternative assets in the name of wealth preservation and growth. Nowhere is this more true than in the cryptocurrency space, where DeFi projects built on top of Ethereum have exploded in popularity since the summer. Finally, however, we are starting to see these assets come to the OG of digital value: Bitcoin. The Bitcoin Standard Hashrate Token, or BTCST, is one of the most appealing…

Twitter looking into Bitcoin payments for employees, says CFO

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Twitter may be the next major company to purchase Bitcoin, according to the tech firm’s chief financial officer. In an interview on CNBC’s Squawk Box today, Ned Segal, who has served as the CFO of Twitter since 2017, responded to questions about how Twitter would react to Tesla’s recent $1.5 billion Bitcoin (BTC) investment this week. Segal said the tech firm was watching other companies closely, and discussed potentially adding the crypto asset to its own books or using it for Twitter employees’ salaries. “We’ve done a lot of the…

Bitcoin Developer Fund Brink Is Granted Tax-Exempt Status

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Donations to the Brink open-source development fund are now tax exempt for U.S. donors. Founded and directed by Bitcoin Core contributor John Newbery, Brink provides grants to Bitcoin developers who work on its open-source tech stack. Now, it has secured 501(c)(3) status from the Internal Revenue Service, meaning any U.S. taxpayer donating to the fund can receive a tax break contributing to the fund. Donors who have already made contributions can retroactively apply the tax break as well, Brink’s blog post reads. “Brink was started with a simple mission: Strengthen…

COVID-19 has pushed Bank of Canada toward ‘digital loonie’

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The Bank of Canada is pushing ahead with digitizing its currency. In a speech today, BoC deputy governor Timothy Lane noted that the COVID-19 pandemic had accelerated the need to digitize cash. Lane said: “The pandemic may bring us to a decision point sooner than we had anticipated.” Lane was, however, careful to specify that “a digital currency is by no means a foregone conclusion.” In October, Lane that said central banks should stand by with digital tokens in the event that Libra, now Diem fell to regulators. Today, he noted…