Bitcoin News Today
Bitcoin (BTC) news covers all information on Bitcoin and other related cryptocurrencies. Bitcoin is a digital currency that was created in 2009 by anonymous founder Satoshi Nakamoto and has since gone on to lead the rise of other digital currencies like it, such as Ethereum (ETH), Ripple (XRP), Litecoin (LTC), EOS, Binance Coin (BNB), Monero (XMR), Bitcoin Cash (BCH) and Tether (USDT) among others. The cryptocurrency is decentralized and thus can be sent and transacted over its own peer to peer Blockchain network without a middleman verifying a transaction.
Bitcoin Adoption
Bitcoin (BTC) has grown in leaps over the decade and has had it’s worth multiply in hundreds and thousands since January 2009 when the first BTC block was mined. Bitcoin transactions are irreversible and pseudonymous amongst other properties. Confirmed transactions on the Bitcoin Blockchain network cannot be undone, which in its way also contributes to the strong security associated with BTC.
Over time the awareness that bitcoins like most crypto currencies operate outside the control or regulation of any third parties such as banks, financial institutions, or the government triggered a wakeup call directed to the risks investors may be exposed to when involved in this venture.
Venturing in Bitcoin
Apart from being trustless, the crypto coin is also permissionless, which sets it apart from traditional fiat currencies and government issued money. The cryptocurrency exchange is also important in bitcoin transactions and the overall ecosystem. You’ll need a cryptocurrency exchange to exchange fiat currencies or regular-coins for some BTC.
Bitcoin Mining
Bitcoin mining operations are done to issue new BTCs into the market, with the overall BTCs eligible for circulation set at 21 million. At present, Bitcoin now has more than 18 million coins in circulation and its next halving event, which would reduce its mining rewards by half for the third time, has been slated for May 2020. At present, Bitcoin has a total market capitalization higher than $110 billion and has hit records higher than 300 billion in the past. The next few years might see Bitcoin eclipse its previous records.
Despite the fall in BTC price, MicroStrategy CEO remains confident in the company’s constant acquisition of the digital currency.
Visa sees two classes of digital assets. New assets, like Bitcoin (BTC), are “digital gold.” Fiat-backed currencies, as well as stablecoins and central bank digital currencies, represent another class.
With hardware wallets, the developers don’t make money by charging you regular fees. Instead, they take fees for creating hardware wallets so that you never have to pay anything else.
Musk’s recent endorsement of Bitcoin came as a shock to many as he had previously criticized the digital coin in his tweets, interviews and podcasts.
In Q4 2020 MicroStrategy acquired about 32,220 Bitcoins at a gross purchase price of $700.0M with an average price of $21,726 per Bitcoin.
Mark Cuban believes that Bitcoin, Ethereum and some altcoins would be able to pull through just like big internet companies of today.
On Thursday, January 28th, Bitcoin (BTC) is slightly rising, trading at $31,213.
The Initial Public Offering for the Bitcoin Trust was completed for 230 million Canadian Dollars, equivalent to around 180 million USD.
Catherine Wood also praised the newly nominated head of SEC Gary Gensler is “very pro Bitcoin”.
Konstantin Anissimov, Executive Director at CEX.IO, shares his insights about the Bitcoin (BTC) and Ethereum (ETH) daily price movements, Jan 25, 21
Institutional investors are beginning to take more interest in Ethereum. This is very similar to the way they adopted Bitcoin enmasse in 2020.
The number of holders with at least 1,000 BTC in their portfolios or crypto wallets has increased by 11% this month according to Glassnode.
Bitcoin outpaced other digital assets as it saw 97% of the total inflows, notwithstanding the fact that it dominates the Assets Under Management (AUM) by 83%.
The Bank of Singapore said that crypto has all the technological prowess to be used as digital money. However, it has to address issues of extreme volatility and bring more legitimacy with institutional participation.
Whatever option for a Bitcoin wallet you choose, keep in mind its ease of use and security. Software wallets are prone to hacking attacks, and physical wallets are best used for long-term storage and one-off transactions.