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.
Tyler Winklevoss has called the new coronavirus stimulus package “another $900 billion advertisement for Bitcoin.”
The deployment for the newly purchased Antimers will start in May 2021. Riot Blockchain said that this purchase will help it attain a 65% jump in Bitcoin mining hash rate to over 3.8 EH/s.
Both Bitcoin and Tesla stock have benefitted from each other’s individual volatility to date with 2020 marking a historic year for both assets.
MicroStrategy’s latest Bitcoin purchase appears to have received the applause of its investors as it is showcased in the current share price.
The latest halt comes as the six-month lock-up period for selling the recently purchased shares of the Grayscale Bitcoin fund comes to an end. Also, it comes as Grayscle’s total assets under management (AUM) crossed $15.7 billion.
BTC recent reversal dragged most altcoins and the second most popular crypto Ethereum fell on Sunday as well.
The Bitcoin price correction witnessed in the second half of 2019 may be seen in the coming weeks if there is a major slowdown in the inflows recorded by the Grayscale Bitcoin Trust.
Ledger has indicated that the leaked database will not compromise the customers’ funds or even their personal hardware wallet.
Endorsing the DOGE cryptocurrency, Elon Musk also changed his Twitter bio to “Former CEO of Dogecoin”. Although his Bitcoin bashing hasn’t had much effect on the BTC price.
The surge in the price of Bitcoin is now a topic of discussion on social media platforms.
Bitcoin has also become a sudden hedge for investors to shield their investments against legitimate inflation as a result of numerous government’s effort to support economies and increase in spending due to the pandemic.
Bitcoin is poised to further growth, unlike the situation when it reached its previous all-time high in December 2017.
Guggenheim CIO Scott Minerd says that the rampant money printing by the Federal Reserve coupled with Bitcoin scarcity makes a favorable case for the BTC. Thus he expects BTC to skyrocket to $400,000 wherein it will be close to the global gold market cap.
The Mining City community shares a common goal – to unite their strength and take advantage of mining cryptocurrencies.
One River Digital, a new institutional-focused investment firm, under the backing of tycoon and hedge fund manager Alan Howard is eyeing a $1 billion investment in cryptocurrencies by early next year.