Day: February 17, 2021

Bitcoin’s Dominance Exceeding 63% Could Put a Dent on Alt-Season

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Quick take: Bitcoin’s dominance has fallen consistently since the beginning of 2021 BTC’s dominance fell from 73% to 59% allowing alt-coins to thrive Bitcoin’s dominance is now battling to regain the crucial 63% that could see BTC back in full control of the crypto markets Bitcoin is at the cusp of confidently breaking $50k and pushing harder to $60k The King of Crypto, als0 known as Bitcoin, has broken the $50k price ceiling with gusto and looks set to once again print new all-time highs on its path to $60k.…

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Dubai Government Licensing Entity Now Accepts Bitcoin for Payments – Fintech Bitcoin News

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A government-owned entity in Dubai has started accepting bitcoin, ether and tether as payment for its services, according to local media reports. Kiklabb is a free trade zone that helps companies set up shop in Dubai, a wealthy city and emirate in the United Arab Emirates (UAE). Kiklabb issues trade and other licenses as well as processes visas. The entity also leases office space to its customers on-board the Queen Elizabeth 2 cruise liner anchored at Port Rashid in Dubai. Payments for these and other services can now be made…

German cannabis company hedges with Bitcoin in case euro crashes

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SynBiotic SE, a German cannabis company, has announced that it is following the lead of companies like MicroStrategy and Tesla in shifting part of its liquid cash holdings into Bitcoin (BTC). In a Feb. 16 update on its website, the company stated that the move was spurred by “legitimate concern about a massive devaluation of fiat money,” due to an “excessive increase” in both euro and U.S. dollar money supply. CEO Lars Müller went further, stressing that the decision was not driven by recent price appreciation, but that, “we have…

Christie’s Adopts NFTs to Auction Digital Artwork by Mike ‘Beeple’ Winkelmann

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The 250-year-old auction house will be auctioning an NFT of one of the most popular digital artists Beeple. For this, Christie’s has partnered with the digital marketplace MakersPlace.  Non-fungible tokens (NFTs) have seen significant growth and growing adoption over the last few years. The 255-year-old auction house Christie’s announced that it will soon auction a digital artwork by Mike “Beeple” Winkelmann using NFTs. For this, Christie’s has also partnered with digital marketplace MakersPlace. The auction will happen between February 25 to March 11. This is for the first time that…

Head of St Louis Fed Says Bitcoin Not a Challenge to US Dollar’s Global Dominance

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The head of the St. Louis Federal Reserve believes bitcoin does not pose a threat to the U.S. dollar’s status as the global reserve currency. In an interview with CNBC on Tuesday, James Bullard said the Fed’s policy focus will remain fixed on a global dollar economy “as far as the eye could see.” “Whether the gold price goes up or down or the bitcoin price goes up or down doesn’t really affect that,” said Bullard. Instead, the Fed’s president flagged “privately issued” cryptocurrencies, not sanctioned by the government, as…

Wedbush Securities Says Tesla Sparked Corporate Adoption with $1.5B Bitcoin Investment

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Wedbush noted the probability of less than 5% that public companies will adopt BTC over the coming 12 to 18 months. Privately-held investment firm Wedbush Securities said that there would be a rise in corporate adoption of Bitcoin fueled by the decision by Tesla Inc (NASDAQ: TSLA) to invest in BTC. In a note released on the 15th of February, Wedbush Securities noted its opinion on Tesla’s BTC investment and its impact on the corporate world. Tesla Bitcoin Investment to Boost Further Corporate Adoption Tesla revealed its Bitcoin investment in…

GPU hardware firm riles gaming community by flirting with crypto miners

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Computing hardware manufacturer Zotac angered a customer base of loyal gamers on Feb. 16 after it posted a tweet apparently marketing its new Nvidia 30 series graphics cards to cryptocurrency miners. Zotac’s post showed a stack of what looks to be GeForce RTX 3070 White Edition GPUs, along with the caption, “An army of ZOTAC GAMING GPUs hungry for coin!” An army of #ZOTACGAMING GPU’s hungry for coin! IG: @pc.lad#ZOTAC #PcGaming #Gaming #Gamers #Tech #PcHardware #PcComponents #PCMR #PcMasterRace #RTX pic.twitter.com/8vFtgPZvP4 — ZOTAC USA (@ZOTAC_USA) February 16, 2021 The availability of…

Microsoft has no plans to make Tesla-like move into Bitcoin, says president

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Microsoft, the second-largest company in the United States, does not apparently have any short-term plans to put Bitcoin (BTC) on its balance sheet, according to the firm’s president Brad Smith. In a Feb. 16 interview with CNN’s Julia Chatterley, Smith still hinted that Microsoft could still change its mind about a Bitcoin investment. When asked whether Microsoft is discussing any cryptocurrency diversification plans following Tesla’s $1.5 billion investment in Bitcoin, the Microsoft president said that he is not aware of such discussions: “I haven’t heard any new conversation about Bitcoin.…