“While sellers on the margin appear to be derisking, there has also been opportunistic buying between $60,000-62,000 levels,” Coinbase Institutional research analyst David Han said in a Friday report. “We think this directional uncertainty speaks to our thesis of bitcoin’s divergent roles both as a risk and a safe haven asset,” he added. Original
“Brokers must report proceeds from (and in some cases, basis for) digital asset dispositions to you and the IRS on Form 1099-DA,” according to the instructions included with the form, which shows a 2025 date. “You may be required to recognize gain from these dispositions of digital assets.” Source
Ultimately, the initial buzz about NFTs and blockchain’s expansion turned to fear during the 2022 crypto winter, although this wouldn’t be the end for NFTs. 2023 witnessed a revival in the blockchain enthusiasm, thanks in part to NFTs making a strong comeback, this time taking the form of Ordinals on Bitcoin. Similar to how DeFi Summer revealed new blockchain capabilities, Ordinals and BRC20 tokens showcased Bitcoin’s potential, sparking excitement about the future possibilities of blockchain technology. Source
After the overnight Israeli retaliatory strikes against Iran, gold prices have settled around $2,388 per ounce, having briefly touched the $2,400 mark right after the events. Over the last five days, gold has increased by 1.85%, while bitcoin has declined by 8% since the onset of the conflict last Saturday, April 13. Following last night’s […] Original
Interest in the term has steadily ramped up since the start of 2024, alongside search interest in the phrase “Bitcoin” (which is still below its 2017 peak in terms of search interest). The surge in interest this month is notable considering bitcoin’s (BTC) recent rally has stalled out, including turbulence this week, which saw it drop from a high around $70,000 last Friday to $63,000 today. Original
Grayscale’s spot Bitcoin ETF continued a five-day outflow sprint leading to the halving, a code change that occurs every four years to help maintain BTC scarcity. Data gathered by SoSoValue showed $89.9 million in Grayscale exits, bringing GBTC’s total net outflows to $1.6 billion since trading opened back in January. For all 10 spot Bitcoin (BTC) ETFs, cumulative outflows were recorded as $4.3 million, as Fidelity and BlackRock garnered demand to offset some of GBTC’s liquidations. Fidelity’s FBTC net inflows came in at $37.3 million, outpacing $18.7 million, boasted BlackRock’s…
BlockDrop Coin operates as a cutting-edge cryptocurrency that allocates mining rewards to token holders via weekly airdrops, simplifying access to the mining economy. Historically, the entry barriers to profitable Bitcoin mining have steadily increased, pushing individual miners and small operators to the periphery of the Bitcoin mining economy. This centralization of Bitcoin mining power raises […] Original
The winds of change are swirling around Ethereum (ETH), the world’s second-largest cryptocurrency. While the Ethereum network itself is buzzing with activity, the price of ETH has taken a tumble in recent days, leaving investors scratching their heads. A glimmer of hope emerged with Tether’s (USDT) recent movement. Tether, the issuer of the world’s most popular stablecoin pegged to the US dollar, transferred a whopping $318 million worth of USDT from its treasury wallet directly to exchanges on the Ethereum network. Source: X This outflow suggests potential anticipation of increased…
Federal Bureau of Investigation officials warn the public about the spread of Akira ransomware. According to an FBI statement, Akira Bitcoin (BTC) ransomware caused multi-million dollar losses to various companies and organizations in North America, Europe, and Australia. Malicious software gains access to enterprise infrastructure through a VPN, accessing software without multi-factor authentication. Akira then steals confidential data and essential information, blocking access to the system. Next, a message demanding a ransom is displayed on the screen. Hackers use Bitcoin as a payment method. As a result of the spread of…
Having said that, I’ve been humbled by my own business trip-ups trying to make a work-around to Bitcoin’s inbuilt limitations. After years of experimenting on Bitcoin and having to rewrite my core software due to an avalanche of tech debt trying to cross-compile with the whole Bitcoin C++ project, and many years of boom and bust, I’m finally shipping. And I’m shipping on Litecoin first. Because, hey, Litecoiners are nice people. They, like me, have been humbled by pain. Original