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 […]
The world watches on as El Salvador makes history with its first official Bitcoin (BTC) purchase. El Salvador President Nayib Bukele took to Twitter yesterday to announce the successful acquisition of the country’s first 200 coins. The President added that El Salvador would make more BTC purchases as the deadline approaches to confirm the Central […]
In an interview with Bloomberg last Thursday, Michael Gronager, co-founder of Kraken and CEO of Chainalysis, noted that Bitcoin (BTC) and the cryptocurrency market bull rally is far from over. Last month, Kraken CEO Jesse Powell opined that the current bull run is in its early stages. Commenting on his price prediction for Bitcoin, he […]
Bitcoin (BTC) re-emerged above the $50,000 barrier today as millions of dollars worth of short positions got liquidated. Data from TradingView showed that the benchmark cryptocurrency touched the $50,400 level, its highest mark since August 23. BTC/USD finally mustered the strength to leave its lower trading range of the past weeks following an overnight rally. […]
While Bitcoin (BTC) continues to struggle below the $50,000 mark, reports show that the network has recorded significant transaction volume. On-chain analytics provider Glassnode recently revealed that the weekly transaction volume on the BTC network has surged to a record high, while the number of token holders steadily recovers. According to the report, the average […]
Citizens of El Salvador took to the streets in protest last Friday over the legal adoption of Bitcoin in the country. This action comes just a few days before El Salvador legalizes the Bitcoin Law, which would allow the country to make BTC an official legal currency along with the USD. While El Salvador President […]
