Day: February 16, 2021

Blockchain Bites: Bitcoin Volatility Hasn’t Shaken Out Institutions

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Purpose Investments CEO Som Seif, speaking on CoinDesk TV, said there have been measurable improvements made to the infrastructure supporting the crypto economy. In fact, he thinks it would have been a mistake three years ago if regulators had approved a bitcoin exchange-traded fund when his firm first floated an application.  “So much work has been done in the backend of this, the plumbing, to effectively allow something like this. I think the regulators are comfortable,” Seif said. Purpose is the first North American firm to release a regulated crypto…

NYDIG files for US-based Bitcoin ETF, with Morgan Stanley on board

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New York Digital Investment Group, or NYDIG, has submitted paperwork with the United States Securities and Exchange Commission to launch a new Bitcoin exchange-traded fund.  NYDIG filed a Form S-1 registration statement for a Bitcoin ETF with the SEC on Tuesday. The submission lists NYDIG Trust Company LLC as the fund’s Bitcoin custodian and Morgan Stanley as an authorized participant. As an authorized participant, Morgan Stanley is expected to sell shares to the public at prices that reflect the fund’s assets, supply and demand, and underlying market conditions. The shares will…

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Litecoin Attempts to Redeem Charlie Lee’s ‘Original Sin’ as LTC Markets Gain Momentum – Altcoins Bitcoin News

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Gradual warming to cryptocurrencies by financial companies combined with both retail investments and institutional interest has carved the way for litecoin’s renewed momentum in 2021. Litecoin is Riding the Bull Market to its Next Resistance Level Litecoin had a challenging start. In late 2017 its founder, Charlie Lee, allegedly sold his entire bag of LTC “to concentrate on the project’s development.” Lee, understandably, received a lot of criticism for his decision. The founder, that goes by the Twitter handle Satoshilite (a reference to bitcoin creator Satoshi Nakamoto) didn’t hold back,…

After Breaching $50K, Bitcoin Gives Up Earlier Gains

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Bitcoin’s price saw a retracement of its earlier gains on Tuesday, but the market expects that it will soon resume its long-term bullish trend and push fresh new all-time highs. For a brief moment during early New York trading hours, bitcoin broke above $50,000 for the first time ever. However, at press time bitcoin’s price was trading at $48,249.23, down 0.29% in the past 24 hours, according to CoinDesk’s BPI. “It’s an impressive milestone for bitcoin [reaching above $50,000] that the crypto community has been waiting for,” Alessandro Andreotti, bitcoin…

People don’t want a ‘non-uniform currency’ like Bitcoin, says Fed president

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James Bullard, president of the Federal Reserve Bank of St. Louis, seemingly doesn’t understand why many are looking to cryptocurrency as a medium of exchange instead of a uniform currency like the U.S. dollar. In an interview with CNBC’s Squawk Box today, Bullard said the issue for making payments isn’t currencies that can be traded electronically, but rather privately-issued ones, as is the case for many cryptocurrencies. He referenced a time in the United States before the Civil War when there was confusion and a dislike for trading the “equivalent…

Bitcoin Mining Revenue Hits New All-Time-High of $354 Million 

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The weekly mining revenue of global bitcoin miners hit a new all-time-high of $354.4 million last week. Analysts say the new record is partly due to the surge in the price of the digital currency coupled with the skyrocketing network fees, according to reports on February 15, 2021. Weekly Bitcoin Mining Revenue Surpasses 2017 Highs  In spite of the significant increase in mining difficulty and the decrease in block rewards, it appears this year will be another excellent one for the entire cryptoverse, as the rising price of bitcoin (BTC),…

Popular Crypto App Has Ties to Data Trackers: Report

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Android versions of popular cryptocurrency app Bitcoin Ticker Widget and a seeming clone of Steemit, Steemit Earn Money, included software development kit (SDK) tools that extract extensive data on users in the past and are potentially linked to location tracking code from X-Mode a notorious data tracking company, according to a new report from Express VPN Digital Security Lab. Two other personal finance apps also have been found to contain these data trackers.   “We wanted to say to consumers: ‘This is a huge problem; you may not be aware of…

Is $50,000 BTC the Beginning of a Bitcoin Supercycle?

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As bitcoin reaches a new milestone all-time high, NLW asks whether we’ve broken out of a traditional halving-based market cycle to something bigger. This episode is sponsored by Nexo.io. Early this morning, bitcoin reached a new all-time high above $50,000. While the market quickly retraced, the psychological barrier was breached. On today’s episode, NLW explores what it means, including whether there is any technical value in the number and Michael Saylor and MicroStrategy’s new $600 million debt offering to buy more bitcoin. He also explores Dan Held’s concept of a…

Tesla’s Bitcoin Buy May Lead to Widespread Corporate Adoption – Eventually: Wedbush

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Wedbush Securities, a Los Angeles-based privately held investment firm, foresees the corporate world emulating the U.S. electric car maker Tesla’s decision to buy bitcoin, just not this year.  In a note on Monday, Wedbush analysts called Tesla’s bitcoin investment a “game-changer” for the top cryptocurrency and blockchain technology, adding that it could pave the way for more corporate ownership and adoption, according to Business Insider.  The firm added that payments companies such as PayPal and Square would benefit if Tesla begins accepting payments for its high-end cars in bitcoin and the crypto boom could…