Elon Musk Considers Using Bitcoin (BTC) on X
In addition to using BTC on X, Musk hinted at the possibility of using BTC as currency on Mars.
Blockstream has raised $21 million in a new funding round to continue developing the bitcoin’s blockchain protocol.
In addition to using BTC on X, Musk hinted at the possibility of using BTC as currency on Mars.
Anticipation is building for the approval of a spot Bitcoin ETF in January 2024. If it happens, it could bring a significant influx of at least $12 billion to $14 billion into the BTC market, potentially driving up the price.
Back’s optimism does not solely hinge on the halving. The Blockstream CEO is confident that Bitcoin will scale new heights even before the event.
Blockstream has over 500 Megawatts in its development pipeline to expand its Bitcoin mining facility for institutional investors.
Adam Back did not comment on the exact size of the offering and who the top backers are this time. However, he made it clear that the funds will be used to expand the company’s mining capabilities.
The thing is that the Hashcash system Adam Back was working on is similar to Bitcoin code, which means they were made on the same PC.
Of the $1 Bitcoin bonds from El Salvador, half of the amount will go towards buying Bitcoin and the remaining half towards developing the infrastructure for the Bitcoin City.
As a way to make its STO more accessible to investors all over the world, Blockstream said it plans to list the BMN token on Bitfinex Securities Ltd, a regulated new security token (STO) exchange.
Apart from being an investment partner, Macquarie will also help Blockstream in leveraging green energy renewable solutions at Blockstream’s Bitcoin mining facilities.
Blockstream said that it will use these funds to expanding its footprint in the Bitcoin mining sectors. Besides, it will help them to bring Bitcoin-focused innovative financial products in the market.