Asset management firm Vaneck released a report projecting bitcoin could reach $2.9 million per coin by 2050, becoming a global medium of exchange and reserve currency. The report suggests bitcoin could settle 10% of global international trade and 5% of domestic trade, with central banks holding 2.5% of their assets in BTC. Scalability challenges are […] Original
Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active…
U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has promised significant bitcoin-related changes if elected. On day one of his presidency, he plans to transfer 200,000 bitcoins to the U.S. Treasury and mandate the government to purchase 550 bitcoins daily until a strategic reserve of 4 million bitcoins is reached. He also pledged to […] Source CryptoX Portal
Bitcoin mining behemoth, Marathon Digital has made headlines by investing a staggering $100 million in BTC. This substantial investment comes despite BTC’s previous price drops, underscoring the mining giant’s confidence in the long term potential of the pioneer cryptocurrency. MARA Buys $100 Million Worth Of BTC In a press release published on Thursday, July 25, MARA, (recently rebranded from Marathon Digital) announced that it has purchased an additional $100 million worth of BTC. This substantial Bitcoin investment marks a significant increase in MARA’s already impressive Bitcoin holdings. Related Reading MARA’s…
Over the past week, non-fungible token (NFT) sales experienced a 7.59% rise, with $108.59 million in transactions finalized during the last seven days. Ethereum topped NFT sales for the week, generating $32.59 million, a 5.95% increase. NFT Market Gains Modest Momentum This Week Solana followed as the second leading blockchain, with NFT sales totaling $27.33 […] Source CryptoX Portal
The approval of Bitcoin ETFs by the US Securities and Exchange Commission (SEC) in January 2023 has opened the floodgates for significant institutional investment in the newly approved market. However, US states are also rushing to capitalize on the success of these ETFs by allocating a portion of their pension funds to reap profits and diversify their investments. Wisconsin, Jersey City, Michigan Allocate Millions To Bitcoin ETFs The first state to take the plunge was Wisconsin, which in May 2023 allocated approximately $98.6 million, or 2% of its pension fund, to…
American investment management firm VanEck has set an astonishing price target for Bitcoin (BTC), the world’s largest cryptocurrency. This forecast, which seems almost inconceivably high compared to most market predictions, has garnered significant attention. Despite the ambitious forecast, VanEck’s research team has presented a comprehensive rationale explaining why they believe such a substantial price increase is attainable. VanEck Predicts Bitcoin Valuation For 2050 On July 24, VanEck published a report, outlining the teams’ assumptions for a bull scenario in which BTC could potentially rise to $52.38 million by 2050. Notably,…
Former President Donald Trump is set to deliver a keynote address at the 2024 Bitcoin Conference in Nashville, Tennessee, this weekend, amid growing speculation that Trump may announce Bitcoin as a strategic reserve asset for the United States. This move could have a significant impact on the entire cryptocurrency industry. Bitcoin Contributions Support Trump and Vance’s Platform According to a CNBC report, Trump has raised over $4 million in campaign contributions from a variety of digital assets, including Bitcoin, Ethereum (ETH), XRP, Circle’s USDC stablecoin, and various memecoins, ahead of…
In a new report dated July 24, 2024, from VanEck, the investment firm’s digital assets research team, headed by Matthew Sigel and Patrick Bush, sets forth an exceptional prediction: Bitcoin could soar to a value of $52.38 million per coin by 2050 in their most bullish scenario. The analysis, titled “Bitcoin 2050 Valuation Scenarios: Global Medium of Exchange and Reserve Asset,” paints a picture of Bitcoin transforming into a cornerstone of the global monetary framework, functioning as both a major international medium of exchange and a reserve currency. How Bitcoin…
Proton, known for its privacy-focused services including the popular Proton Mail with over 100 million users, has launched Proton Wallet, a new self-custodial bitcoin wallet. “If you are one of the millions of people who have a Proton Mail email address, you can now automatically receive bitcoins with your email address,” said Proton’s CEO, adding […] Original