Cryptopia Update: Victims of Hacked Bitcoin Exchange to Receive $100M Compensation

A Christchurch High Court has ruled that over 800,000 users of the now-defunct cryptocurrency exchange platform Cryptopia, are entitled to the digital assets held in their accounts before the hack occurred. Cryptopia Users Win $100M Crypto Assets Court Case According to the documents of a Christchurch High Court verdict published on Wednesday (April 8, 2020), liquidators from accounting firm giant Grant Thornton have been ordered to reimburse over 800,000 users of Cryptopia’s exchange platform. Previously, liquidators filed documents arguing that the remaining crypto assets held by the exchange should not…

New Wrapped Bitcoin Platform Allows You to Transact in BTC Using Tezos

On April 8, the Bitcoin Association Switzerland (BAS) announced the launch of a new wrapped bitcoin project called Tzbtc. The token will be used on the Tezos network and each token will be backed 1:1 with BTC. The project is now the fourth tokenized project that leverages BTC on another blockchain. Also read: The Bitcoin Cash Network’s Block Reward Officially Halved – Block 630,000 Mined Tokenized Wrapped Bitcoin Projects Are Trending There’s now a number of tokenized BTC projects that leverage tokens on an alternative network and claim to be…

Retail Bitcoin (BTC) Buying Up Despite Institutional Dump, Report Suggests

The number of wallet addresses with small Bitcoin (BTC) holdings has increased significantly since the crash of March 12, 2020 — ‘Black Thursday,’ when the price of BTC fell to $3,800. Retail Traders Bought the Dip During the Last Bitcoin Crash According to Coin Metric’s “State of the Network” report published on Tuesday (April 6, 2020), the mid-March Bitcoin price crash triggered retail investors to “buy the dip.” Data from the report shows a noticeable increase in the number of BTC wallet addresses holding small Bitcoin amounts — a usual…

Novogratz: We Have Money-Printing Orgy Going on, Amazing Environment to Buy Bitcoin

Galaxy Digital chairman Michael Novogratz said that bitcoin is his pick under the current financial situation, describing it as an “amazing environment” to buy bitcoin. With “global money printing orgy,” a possible another trillion-dollar stimulus package, and “money growing on trees,” Novogratz said this is the year for bitcoin. Also read: IMF Declares Global Recession, 80 Countries Request Help, Trillions of Dollars Needed Amazing Environment for Bitcoin Mike Novogratz, the chairman and CEO of Galaxy Digital, revealed his investment picks in an interview with CNBC on Tuesday, April 7. The…

Global Hedge Fund Expects Bitcoin to Hit $8K; Here's Why

Bitcoin rebounded by almost 94 percent after bottoming out below $4,000 in mid-March. And the cryptocurrency could extend its upside momentum, according to a prominent investment management firm. Coincident Capital said Tuesday that the bitcoin price could hit $8,000, taking cues from the recovery of global equities amidst an otherwise looming economic crisis. The Cayman Islands firm highlighted the growing correlation between bitcoin and traditional markets, noting that an impending recovery in stocks could help the cryptocurrency extend its uptrend. “Bullish on Bitcoin,” tweeted Coincident Capital. “Equities pulled back today…

The Bitcoin Cash Network's Block Reward Officially Halved – Block 630,000 Mined

On April 8, 2020, the Bitcoin Cash network’s block reward halved as of block 630,000 and BCH miners hashing away at the network will now capture only 6.25 coins per block going forward, instead of 12.5. The BCH halving is the first major SHA256 branch to halve its block reward, as BSV and BTC will halve as well within the next 30 days. Now that the BCH halving has slashed the current block reward, BCH proponents will be focused on the cryptocurrency’s price, hashrate, and the network’s difficulty. Also read:…

Bitcoin Cash (BCH) Poised to Undergo First Halving; Miners Hold Tight

The fifth-largest cryptocurrency by market cap, Bitcoin Cash (BCH) is set to undergo halving today, April 8, 2020, which means that the number of BCH coins created approximately every 10 minutes will fall from the current 12.5 to 6.25. Notably, this will be a milestone in BCH’s relatively short history, as typically – at least in case of Bitcoin (BTC) – halvings are preceded or succeeded by a dramatic price movement of the underlying cryptocurrency. BCH Set to Undergo Halving In a major milestone for the community, Bitcoin Cash is…

Virgin Galactic's Chamath Palihapitiya: Bitcoin Could Go to $1 Million, Everybody Should Own Some

Virgin Galactic Chairman Chamath Palihapitiya has shared his bitcoin investment strategy, predicting that bitcoin’s price could reach a million dollars. He further suggested that everybody should have 1% of their assets in bitcoin since it is “a fantastic hedge.” Also read: IMF Declares Global Recession, 80 Countries Request Help, Trillions of Dollars Needed Bitcoin’s Price Could Reach $1 Million Chamath Palihapitiya, the chairman of Virgin Galactic and founder of investment firm Social Capital, recently discussed bitcoin and how to invest during the current financial crisis. In a podcast interview published…

Hyperbitcoinization: Visions of Bitcoin Fueling the Post Covid-19 Shadow Economy

With the recent coronavirus spread and its overall effect on the global economy, some people believe the powers that be are preparing a financial reset. During these times, a number of bitcoiners think a bitcoin-induced form of fiat currency demonetization will take place, otherwise known as ‘hyperbitcoinization.’ However, a few speculators believe digital assets in the crypto economy are actually meant to further the underground shadow economy. In a world filled with overbearing politicians and malicious data-collecting corporations, the surveillance state could easily make cryptocurrencies far more valuable by fueling…

Tech Giant Microsoft Patents New Bitcoin (BTC) Mining System 

Tech giant Microsoft has patented a new crypto mining solution that uses human bodily activity data to reward people with digital currency when they perform certain tasks. The firm says the new system aims to reduce computational energy consumed during mining while also making the mining process faster, according to a report released April 6, Read MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News Original