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Bitcoin's Hash Rate Has Grown 61% in the Last Month, Breaks Above 100 EH/s

China: Bitcoin Hashrate Drops After Rainstorms Hit Sichuan Province

August 18, 2020 by Shaurya Malwa at Bitcoin

Bitcoin mining pools in China, including large and mid-sized operations, are seeing their daily hashrate drops by “10 to 20 percent” following monsoons in Sichuan, reported Coindesk on Tuesday. Rain Spoils the Day The Sichuan province is said to control over 50% (even 60%) of Bitcoin’s total hashrate. It is...

Bitcoin Tokenized on Ethereum Is Exceeding Mined BTC

August 17, 2020 by Shaurya Malwa at Bitcoin

The Ethereum-led DeFi token bullrun has created a situation where Bitcoin tokenized on the platform exceeds actual Bitcoin mined, according to on-chain analytics firm Dune Analytics. Bitcoin on Ethereum a Hit Over 1,100 more Bitcoin was represented on the Ethereum blockchain as of August 17, data on Dune Analytics shows....

Bitcoin Is the Second Most Viewed Asset in the U.S.

August 17, 2020 by Anthonia Isichei at Bitcoin

Bitcoin continues to gain popularity among U.S. investors, following reports that the flagship cryptocurrency was the second-highest viewed asset after Tesla. Bitcoin Visibility is on the Rise According to data from stock charts platform TradingView, Bitcoin saw increased interest among U.S. investors and traders in the month of July. The...

US Feds Just Realized Bitcoin Is “Different” Than Fiat Money

August 14, 2020 by Shaurya Malwa at Adoption, Bitcoin

The US Federal Reserve in New York said the framework for discussing digital currencies is flawed, in a blog post yesterday. They stated that Bitcoin had “changed” how society thinks of money. Distinctions on currencies made Bitcoin has changed things and the definition of money said the New York Federal...

Nigerians Using Bitcoin for International Trade Despite Regulatory Uncertainties

August 13, 2020 by Ogwu Osaemezu Emmanuel at Bitcoin

Bitcoin (BTC), the world’s flagship cryptocurrency is rapidly gaining traction around the world as a tool for international trade and commerce. Several forward-thinking businessmen in Nigeria are now using the blockchain-based digital currency to scale the hurdles of foreign exchange in the region, according to a report on August 13,...

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Ways To Make Your Bitcoin Work For You During Lockdown

August 13, 2020 by Guest Post at Bitcoin

Over 214,000 new cases were added to the confirmed list of COVID-19 on August 12. Many countries, including some European ones that had begun to restore a semblance of normalcy, are forced to impose lockdown measures on various degrees. It seems that a full recovery is still far far away. ...

Tax Evasion with Cryptocurrencies Could rise due to De Minimis Exemption

Coinbase to Introduce Lending Feature with Bitcoin as Collateral

August 13, 2020 by Anthonia Isichei at Bitcoin

Coinbase and Square become the latest platforms to venture into the ever-growing crypto lending space. Coinbase revealed a new loan feature that would enable users to borrow cash with Bitcoin as collateral. Coinbase Cash Loans with Bitcoin Collateral In a blog post published on Wednesday (August 13, 2020), Coinbase, a...

MicroStrategy Becomes First Listed Company to Hold Bitcoin as Reserve Asset

August 11, 2020 by Osato Avan-Nomayo at Bitcoin

The “Bitcoin (BTC) as a hard asset” narrative is spreading beyond retail investors to the corporate world as MicroStrategy purchases 21,454 BTC worth over $250 million. Nasdaq-listed MicroStrategy Buys $250M in BTC The Nasdaq-listed MicroStrategy announced the news of Bitcoin treasury allocation via a press release issued on Tuesday (August...

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Stocks of Riot Blockchain and Marathon Patent Surge Amidst Bitcoin’s Bullish Movement

August 11, 2020 by Ogwu Osaemezu Emmanuel at Bitcoin

Riot Blockchain (NASDAQ: RIOT) and Marathon Patent Group (NASDAQ: MARA), two of the very few crypto mining firms listed on the Nasdaq stock exchange are experiencing a significant surge in their share prices as the price of bitcoin (BTC) continues to rally, according to reports on August 10, 2020. Nasdaq-Listed...

Another Wall Street Giant Prepares to Join the Crypto Bandwagon

August 10, 2020 by Ogwu Osaemezu Emmanuel at Bitcoin

Goldman Sachs (NYSE: GS), a Wall Street investment banking heavyweight has revealed plans to launch its own distributed ledger technology (DLT) based cryptocurrency just like Jamie Dimon’s JPMorgan, reports Forbes on August 9, 2020. Institutional Investors Betting Big on Cryptos and DLT As bitcoin (BTC) keeps gaining popularity around the...

Bitcoin-Hating Federal Reserve Official Is Suggesting More Inflation Ahead

August 10, 2020 by Shaurya Malwa at Bitcoin

Neel Kaskari, a cryptocurrency critic and President of the Federal Reserve Bank of Minneapolis, called for another strict lockdown in the United States last week while speaking favorably about supporting inflation, he wrote in a New York Times op-ed. Bitcoin is “Garbage,” but Fed Prints Money Kashkari’s calls for another...

Grayscale Launches TV campaign for Bitcoin, Ethereum

Grayscale Set to Launch Crypto Ad Campaign on CNBC, MSNBC, FOX, and FOX Business

August 9, 2020 by Aisshwarya Tiwari at Bitcoin

Grayscale Investment, the world’s largest crypto asset fund manager is bringing bitcoin (BTC), ether (ETH) to people’s television. A Well-Timed Campaign? In a recent tweet, Barry Silbert, the founder and CEO of Digital Currency Group, the parent firm of Grayscale Investment, Genesis Trading, and crypto publication Coindesk stated that Grayscale is...

U.S. Public Company is Moving $250 Million into Bitcoin, Gold to Protect Against Inflation

August 6, 2020 by Shaurya Malwa at Bitcoin

An American public company is choosing alternative assets like Bitcoin and gold to battle the rising threat of overinflation, per an announcement on August 5. Moving into Bitcoin MicroStrategy, a publicly-traded company on the NASDAQ worth over $1.2 billion at press time, told shareholders last week that it plans to...

Bitcoin Is for the Young and Gold for the Old, Says JPMorgan

August 5, 2020 by Osato Avan-Nomayo at Bitcoin

Bitcoin (BTC) and gold appear to be the popular asset choices for investors depending on their age group. Haven assets are seeing significant price increases as worry mounts over the future of global economies amid the ongoing coronavirus epidemic. COVID-19 Fears Pushing Investors to Bitcoin and Gold According to Bloomberg...

Over 50 Percent of Square Merchants Ready to Accept Bitcoin, Survey Shows

Square’s Cash App Reports $17 Million Bitcoin Gross Profit in Q2 2020

August 5, 2020 by Ogwu Osaemezu Emmanuel at Bitcoin

Jack Dorsey’s Square has announced on August 4, 2020, that it generated a massive $875 million in bitcoin (BTC) revenue via its Cash App platform in the second quarter of 2020. The firm’s report shows that over 30 million people used Cash App in June, with more than seven million...

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