Month: June 2021

We tracked down the original Bitcoin Lambo guy – Cointelegraph Magazine

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Jay is the Bitcoin OG who created a meme by buying a Lamborghini with the cryptocurrency. He went from a poverty-level existence to enjoying a well-off lifestyle in a gated community thanks to mining Bitcoin in the early days — but not without having to worry for his family’s safety. As BTC first broke the $1,000 milestone in December 2013, former Chair of the U.S. Federal Reserve Alan Greenspan suggested that Bitcoin could not actually be used to buy anything of value. That’s when Jay (not his real name), then…

Bitcoin “on Track to Hit Six Figures in 2021”: Bloomberg

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Key Takeaways Bloomberg’s latest crypto report claims that Bitcoin could hit six figures in 2021. The report also makes the case that Ethereum could overtake Bitcoin in market capitalization terms. It also highlighted Tether’s role in strengthening the “digitalization of money.” Share this article Bitcoin to six figures? Bloomberg thinks it’s likely to happen this year.  Bloomberg Shares Crypto Forecast  Bitcoin could break $100,000 this year, according to Bloomberg.  In a June crypto outlook report, strategists at Bloomberg Indices noted that crypto is currently in an upward trend. Highlighting Bitcoin’s…

CEOs of top Russian banks Sberbank and VTB blast Bitcoin

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Sberbank and VTB, the two biggest banks in Russia, are not willing to move into the cryptocurrency market in the near future as their CEOs believe that crypto is either too risky or fake money. Sberbank CEO Herman Gref said that cryptocurrencies like Bitcoin (BTC) are probably the riskiest type of investment alongside the equity market. In a Thursday interview with local TV channel NTV, Gref claimed that a banking deposit is the best investment option as it is associated with the least amount of risk despite low returns: “A…

‘Largest Bitcoin event in history’ Bitcoin 2021 kicks off in Miami

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Bitcoin 2021, the biggest Bitcoin event in history with a sold-out crowd of at least 12,000 attendees in Miami, is kicking off with some of the world’s biggest industry players. The conference will be one of the largest crypto gatherings to emerge following the COVID-19 pandemic, with organizers expecting more than 50,000 attendees. An unofficial part of the conference kicked off Thursday with a “Whale Day” featuring Galaxy CEO Mike Novogratz and BitGO CEO Mike Belshe. The event is positioned to be something “more like a music festival,” featuring multiple stages,…

Clean-water nonprofit launches celebrity-funded Bitcoin Water Trust

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Charity: water, a New York-based nonprofit with a mandate to bring clean and safe driving water to developing countries, has begun accepting Bitcoin (BTC) donations through a dedicated cryptocurrency fund — a move that could help the organization attract new donors towards its initiative.  The launch of the Bitcoin Water Trust allows charity: water to receive and hold Bitcoin donations to fund global water projects through 2025, the nonprofit announced Friday. The fund’s assets will be held entirely in Bitcoin, with the intended execution of water projects also to be…

Ghana gearing for central bank digital currency pilot

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The Bank of Ghana (BoG) is reportedly moving towards the introduction of a central bank digital currency (CBDC) experiment. Speaking during a news conference in Ghana’s capital, Accra, on Monday, Ernest Addison, governor of the country’s central bank revealed that the BoG was in the advanced stages of creating a CBDC. As part of his address, Addison said that the planned e-cedi will pass through developmental and evaluation phases before a decision will be made on a national rollout. According to the BoG governor, the final stage will involve a…

When will Elon Musk’s influence on Bitcoin end?

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Elon Musk’s tendency to sway the crypto space with devil-may-care tweets was on display again on Friday, as numerous coins lost between 10–18% in the wake of Musk’s latest Bitcoin (BTC) meme. The Tesla CEO’s tweet which showed a Bitcoin sign next to a broken heart emoji could have been interpreted as fairly cryptic, but within minutes the crypto market responded by plunging into a sea of red, as close to $100 billion departed the global market cap. Industry executives, while concerned with the influence Musk exerts on the crypto…

South Korean regulators parley with 20 crypto exchanges

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Small and medium-sized exchanges in South Korea had a chance to express some of their grievances with the government during a recent meeting with financial regulators. According to a report by South Korean news outlet D.Street, the Financial Services Commission (FSC) convened a closed-door meeting with 20 crypto exchanges on Thursday. Inside sources quoted by D.Street say the closed-door session was a parley between the FSC’s Financial Intelligence Unit (FIU) and the 20 crypto exchanges where the former expressed the government’s desire to implement its virtual asset service provider (VASP)…

Historically accurate Bitcoin metric nears the next ‘potential’ price peak

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Bitcoin (BTC) losing over 50% in a month may have a big silver lining as lower prices set up a classic bull flag. On Thursday, Philip Swift, creator of the Pi Cycle Top indicator, said that this year could still see a major Bitcoin price high. BTC price drop’s saving grace? Pi Cycle Top uses two moving averages — the 111-day and the 350-day multiplied by 2 — to determine likely market tops with an error range of just three days. It has proven extremely accurate, and current conditions are…

Bitcoin, Ethereum, DeFi Hit by Latest Musk Tweet

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Key Takeaways Crypto prices plummeted Thursday after Elon Musk posted a tweet suggesting he’d broken up with Bitcoin. Bitcoin, Ethereum, and various DeFi tokens are in the red. The crash liquidated $600 million worth of futures positions in the crypto derivates market. Share this article The cryptocurrency market slumped Friday morning after Elon Musk called an end to his love for Bitcoin.  Elon Musk Shakes Bitcoin Price  Bitcoin’s price dropped 7.6% from yesterday’s $39,250 closing to lows of $36,250 following a tweet from Elon Musk.  The Tesla and SpaceX founder,…