Trading Bitcoin in Africa Is a Way for Some to Escape Poverty

For years, Stephen Aluko lived “hand to mouth” in Nigeria, home to a big but struggling economy in Africa with a high unemployment rate. He worked odd jobs, from running cyber cafes to “soft media” and videography, constantly mulling in the back of his mind if he would be able to pay for his next meal. He was unemployed before hearing about bitcoin in 2017. At that point, his shoes hardly held together.  When Aluko decided to commit to trading bitcoin – buying and selling the cryptocurrency for profit –…

Bitcoin and Ether Market Update January 21, 2021

Total crypto market cap erased $52.4 billion from its value for the period since Monday morning and now stands at $938 billion. The top ten coins are mostly in red for the last 24 hours with PolkaDot (DOT) and Cardano (ADA) registering an 8.9 and 1.4 percent increase respectively while Bitcoin Cash (BCH) lost 5.6 percent. At the time of writing bitcoin (BTC) is trading at $31,700 on the Bitstamp daily chart, ether (ETH) dropped to $1,210. Ripple’s XRP is hovering around $0.278. BTC/USD Bitcoin closed the trading day on…

Grayscale Purchases 32,710 Bitcoin in 1 Week, 8,762 BTC in 24 Hrs

Quick take: Grayscale has accumulated 32,710 BTC in 1 week and 8,762 Bitcoin in 24 hours The accumulation is happening alongside a Bitcoin correction to the lower $30k levels Grayscale now owns 3% of the 21 million Bitcoin that will ever exist The idea of Bitcoin scarcity is growing with such purchases by big firms The Wall Street firm of Grayscale Investments has accumulated 32,710 Bitcoin in one week. Of this amount, 8,762 Bitcoin was accumulated in the last 24 hours. This translates to purchases of Bitcoin worth $285 million…

World's Largest Asset Manager Blackrock to Invest in Bitcoin Futures – Finance Bitcoin News

Blackrock, the world’s largest asset manager with $7.81 trillion under management, is getting into bitcoin. The firm has filed with the U.S. Securities and Exchange Commission (SEC) for two of its funds to invest in bitcoin futures. Blackrock Gets Into Bitcoin Blackrock filed two “statements of additional information” with the SEC on Wednesday. One was for Blackrock Funds V and the other was for Blackrock Global Allocation Fund Inc. Both filings state: Certain funds may engage in futures contracts based on bitcoin. The two filings further detail, “The only bitcoin…

Clothing the Naked Emperor – the Blockchain Potential Unleashed With Prasaga – Sponsored Bitcoin News

Prasaga is a Foundation-based organization and the creator the DataGrid Blockchain, a new native chain and coin project, embracing developers, miners, and token holders. DGB will be language agnostic, allowing developers to have full code reuse on a global scale, which will greatly reduce development time and complexity. The Emperor’s New Clothes In the much-beloved folktale “The Emperor’s New Clothes”, the author Hans Christian Andersen portrays a ruler, hoodwinked by weavers who play on his vanity, by saying that the suit he wears is visible only to those who are…

Bitcoin Option Traders Hedge Against Downside Risk as Price Dips to Near $32K

Amid another price downturn Thursday, bitcoin options traders appear to be becoming less bullish on the immediate prospects for the cryptocurrency. The one-week put-call skew, which measures the spread between prices of short-term puts and calls, has risen to a five-week high of 14%. The skew had bottomed out near an extremely bullish -33% just a week ago, according to data source Skew. One-, three-, and six-month skews have also climbed from recent lows, but are still in bullish territory. The shift is the result of increased demand for downside…

Bitcoin.org Rebuts Craig Wright's 'Meritless' Copyright Claim on Bitcoin White Paper

“We will continue hosting the Bitcoin whitepaper and won’t be silenced or intimidated. Others hosting the whitepaper should follow our lead in resisting these false allegations.” So said Bitcoin.org, an an independent open-source project that aims to support bitcoin development, in a response on Thursday to an attempt by nChain chief scientist Craig Wright to force the site to take down its copy of the bitcoin white paper. While bitcoin was created by the pseudonymous Satashi Nakamoto, who has yet to be identified, Wright has repeatedly made claims that he…

Dubai Financial Watchdog to Release Consultation Papers for a Crypto Regulatory Framework – Regulation Bitcoin News

The Dubai Financial Services Authority (DFSA) has unveiled its plans to create a regulatory framework for cryptocurrencies. The announcement was part of its 2021-2022 business agenda released this week. The Papers Will Be Released in the First Half of 2021 According to the watchdog, which regulates the Dubai International Financial Centre (DIFC), the upcoming crypto framework aims to expand on the existing rules. It includes the regulation of crypto issuers and trading platforms. The document, signed by DFSA Chairman Saeb Eigner, reads: We will build upon recent achievements in this…

Former US Treasury Secretary Larry Summers Says Bitcoin 'Is Here to Stay' – Economics Bitcoin News

Former U.S. Treasury Secretary and economist Larry Summers says bitcoin is here to stay despite the concerns by some that it may be a bubble. The former secretary asserts that bitcoin’s price fluctuations are in fact a sign of its resilience. In his latest comments about bitcoin, Summers, who in 2016 became a senior adviser to Digital Currency Group, reiterates his position about the crypto and its underlying technology. Before the new remarks, Summers previously predicted that the “financial industry will adopt the technology underpinning bitcoin.” Still, in his latest…

Fundstrat Global – Altcoins Bitcoin News

Fundstrat Global Advisors strategist David Grider predicts that the price of ethereum could rally to $10,500 per unit after the cryptocurrency set a new all-time high on Tuesday. The estimate implies a near 700% upside on the current ether price hanging above the $1,300 range. According to Grider, ether (ETH) – the second largest digital asset after bitcoin (BTC) – will continue to benefit from its relationship with decentralized finance (defi) applications, the majority of which are built on the Ethereum blockchain, and have seen massive growth in 2020. He…