While many environmentalists worry over the energy consumption rate of Bitcoin (BTC), new reports reveal that the network has consumed more power this year than the whole of 2020. The new, report curated by Bloomberg, noted that “the network reportedly consumed about 67TWh of electricity in 2020, and its total consumption has already surpassed this […]
President of El Salvador Nayib Bukele recently revealed that the country is exploring ways to mine Bitcoin using energy from its volcanoes. The charismatic leader announced via Twitter on Wednesday, noting that: “I’ve just instructed the president of La Geo (our state-owned geothermal electric company) to put up a plan to offer facilities for bitcoin […]
Michal first heard about bitcoin in 2014. He had $4,000 in his savings account. Inspired by his programmer friend, a rabid bitcoiner, he went all-in. “At the time,” he wrote on his Medium page, “I invested my $4k, the price of a bitcoin was about $600. I got 6.55 BTC. I will never forget that […]
On-chain analytics provider Santiment has warned Bitcoin (BTC) retailers that millionaire-tier whales could be pushing them out of the market. The analytics firm revealed that whale addresses holding between 100 to 10,000 BTC dumped their holdings around September 6-7. Santiment noted that after retailers booked profits following the recent 15% crash, these whales acquired BTC […]
Behemoth digital assets manager MicroStrategy has reportedly acquired 5,050 more BTCs, bringing its total Bitcoin holdings to a jaw-dropping 114,042 coins. The company announced the new development on Monday. MicroStrategy CEO Michael Saylor tweeted that: “Microstrategy has purchased an additional 5,050 bitcoins for ~$242.9 million in cash at an average price of ~$48,099 per bitcoin. […]
To incentivize foreign cryptocurrency investment into the country, the government of El Salvador has announced that foreign investors will receive immunity on Bitcoin (BTC) profits taxation. The announcement came from a government adviser last Friday. In an interview with Agence France-Presse (AFP), the legal advisor to President Nayib Bukele, Javier Argueta, noted that: “If a […]
Reports show that Bitcoin (BTC) has shared a remarkable correlation with the stock market for about over a month now. Bitcoin currently trades around the $46,000 area, down by about 8% over the last seven days. This price decline comes amid several positive factors in the industry. Just last week, El Salvador officially kicked off […]
One of the largest Bitcoin (BTC) whales appears to be making the most out of the recent market crash. Reports show that the third-largest BTC wallet added close to 500 BTC to its holding. The anonymous wallet purchased 490 BTC when the cryptocurrency traded at $46,800 with a transaction value of $23 million. Whale activity […]
Several cryptocurrency exchanges in the US suffered operational issues today amid the sharp crypto market crash sponsored by an intense rejection of Bitcoin. Not surprisingly, this correction comes on the same day El Salvador officially kicked off its Bitcoin Law. Top exchanges like Coinbase, Kraken, Gemini, and others reported that their users experienced difficulties using […]
