Why Bitcoin?

Bitcoin Is On Fire

forbes

Bitcoin is once again climbing, making gains alongside broader markets—with the bitcoin price up 12% over the last week and powering into the second quarter. The bitcoin price is up almost 6% over the last 24-hour trading period, outperforming almost all major indexes despite stocks across Europe following Asia slightly higher.

Bitcoin is climbing once again

asiatimes

Bitcoin is once again climbing, making gains alongside broader markets – with the price up 12% over the last week and powering into the second quarter. The bitcoin price is up almost 6% over the last 24-hour trading period, outperforming almost all major indexes despite stocks across Europe following Asia slightly higher.

What Is Bitcoin, and How Does it Work?

howtogeek

Bitcoin, the digital currency, has been all over the news for years. But because it's entirely digital and doesn't necessarily correspond to any existing fiat currency, it's not easy to understand for the newcomer. Let's break down the basis of exactly what Bitcoin is, how it works, and its possible future in the global economy.

Bitcoin: What is it, where can you use it and is it worth investing?

independent

Bitcoin had an incredible 2017 after increasing in value more 20 times from below $1,000 dollars to a peak of just under $20,000. Such phenomenal returns have caused many to ask how they can get in on the action while others to suggest it’s a dangerous bubble waiting to burst. So what exactly is bitcoin and why is it attracting so much attention?

Bitcoin DeFi May Be Unstoppable: What Does It Look Like?

coindesk

Bitcoin veterans are about to join the decentralized finance (DeFi) bull run, and they are taking a very different approach than Ethereum fans.

Satoshi Nakaboto: ‘Kraken expects Bitcoin to rally up to 200% in the coming months’

thenextweb

Our robot colleague Satoshi Nakaboto writes about Bitcoin every fucking day. Welcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours. As Schopenhauer used to say: Intelligence is in the eye of the beholder!

Bitcoin’s S2F Model Is Still on Track: Targeting Price of $55,000

cryptopotato

Bitcoin has not been able to overcome resistance at the $12,000 level this weekend, but the stock to flow price prediction model is still on track as the latest red dot is printed for August. The stock-to-flow (S2F) model is the brainchild of crypto analyst going by the twitter handle ‘PlanB.’ It was initially published in March 2019 and examines the relationship between the production of supply and the current stock available, essentially calculating Bitcoin’s value through scarcity.

Bitcoin To ‘Ignite’ After Labor Day, Warns Former Prudential CEO In Surprise Crypto Flip

forbes

Bitcoin has made some serious headway into the traditional financial industry over the last six months or so—with some big-name investors giving it their backing. The bitcoin price, after a period of inactivity, has surged over the last month, giving bitcoin newcomers and long-term holders fresh confidence in the digital currency.

Former Prudential Financial CEO George Ball Says Now Time to Buy Bitcoin

bitcoin.com

Former Prudential Financial CEO George Ball is advising wealthy investors to acquire bitcoin because it is the only asset that cannot be undermined by the government. Ball made the comments while discussing adjustments that investors need to make to their portfolios.

Bitcoin investors’ ‘Now or Never’ attitude replaced by ‘Now and Always’

ambcrypto

How does one identify if a market is healthy or not? Well, that is a question with no right or even one answer. What can be expanded upon here, however, is the nature and attitude of the investor class – a crucial characteristic of a healthy market. How has that changed over the years and how has market maturity been affected?

Ex-Prudential Securities CEO Calls Bitcoin a ‘Safe Haven’

coindesk

George Ball, the former chief executive officer of Prudential Securities and now CEO of Sanders Morris Harris, suggested bitcoin or other cryptocurrencies could be “a safe haven” for investors and traders as an alternative investment.

Is Bitcoin really 'digital gold' – and should you own some?

telegraph

A growing number of professional investors are arguing that Bitcoin, the cryptocurrency, is “digital gold” and deserves a place in a diversified portfolio. Sceptics counter that Bitcoin has no intrinsic value as few people use it to buy things and that it is unproven as a 'safe haven' asset, whereas gold has been used for millennia as a store of value. Gold has been flying this year, rising by 30pc in value, but Bitcoin has done even better, gaining 65pc to almost £9,000 per coin

$217 Million Pour Into Grayscale's Crypto Funds Following Bitcoin TV Ad Campaign

bitcoin.com

Grayscale Investments announced that it has raked in record investments of $217 million the week its TV commercial campaign launched. The company’s crypto TV commercial kicked off on CNBC, MSNBC, FOX, and FOX Business. Following Grayscale, Michael Novogratz’s Galaxy Digital places a full-page ad in the Financial Times.

As bitcoin meets resistance, hash rate soars

asiatimes

Bitcoin is still struggling to break through strong resistance at $12,000, but the good news is that its hash rate has hit a new all-time high. Historically, the crypto’s price has followed its hash rate, which is an estimate of the amount of computing power being devoted to processing transactions on the blockchain.

Bitcoin Mining Can Be Profitable, If You Generate The Power

forbes

The New York Finger Lake Region is known for its wine and glacial formed waterways. It is a beautiful place. And it now hosts one of the largest Bitcoin mining facilities in the U.S. Greenidge Generation is a former coal-fired electrical power plant that has converted to natural gas. They supply electrical power to New York State's residents. Every day Greenidge has to bid in a competitive power market – sometimes, they make a profit when energy demand is higher.

Nasdaq-Listed Firm Marathon Buys 10,500 Next-Gen Bitcoin Miners

bitcoin.com

One of the earliest Nasdaq-listed cryptocurrency mining companies, Marathon Patent Group, announced a new agreement contract with the ASIC mining manufacturer Bitmain. According to the public company, Marathon has agreed to purchase 10,500 next-generation Antminer S-19 Pro models for $23 million.

Mike Novogratz and Dave Portnoy Say Buy Bitcoin and Not Gold

bloombergquint

(Bloomberg) -- Michael Novogratz is a veteran Wall Street fund manager and cryptocurrency maven who readily acknowledges when he earns a “black eye,” while Dave Portnoy is the brash founder of a media empire who only recently began touting stocks and has disparaged Warren Buffett. Their backgrounds and personalities may be vastly different, but both are now offering the same investment recommendation: Bitcoin is a better long-term bet than gold.

Billion Dollar Public Company Microstrategy Moves $250 Million Into BTC, Says Bitcoin 'Superior to Cash'

bitcoin.com

Nasdaq-listed company Microstrategy Inc. is bullish on bitcoin, saying that it is a “dependable store of value” that is “superior to cash.” The billion-dollar company has purchased $250 million in bitcoin, adopting the cryptocurrency as its primary treasury reserve.

As Bitcoin tops $11,000 level, investor interest in India on the rise

livemint

Bitcoin prices surged past the $11,000 level on Tuesday, marking a steep recovery from its recent lows of around $5,000 in March 2020. The cryptocurrency was trading at around $10,972 at the time of writing this report on Wednesday. The covid-19 crisis had battered financial assets across the world in March, including cryptocurrencies. Along with the rebound in prices, interest in cryptocurrency in India has also staged a recovery, say experts. A Supreme Court of India ruling in March, striking down the Reserve Bank of India’s (RBI) ban on crypto payments imposed in 2018 has also acted as a tailwind for the cryptocurrency investment.

4 of South Korea's Largest Banks to Provide Cryptocurrency Services

bitcoin.com

Four of the top five South Korean banks have reportedly announced their plans to provide cryptocurrency services. The announcements came ahead of the crypto regulation that will soon go into effect in South Korea. South Korea’s largest banks have reportedly revealed that they will be providing cryptocurrency services. With the country’s crypto regulation going into effect next year, cryptocurrency has been attracting the attention of traditional financial institutions, particularly for custody services.

Bitcoin was the second most popular asset on TradingView after Tesla stock last month

yahoo

Bitcoin was the second most viewed asset on TradingView after Tesla stock in July. The charting platform revealed the data point on Friday, saying that Tesla was the most viewed stock in 31 U.S. states, while bitcoin was particularly popular in California, Washington, and Oregon states. 'The west coast loves crypto the most,' said TradingView.Both bitcoin and Tesla stock have jumped in price this year. Tesla has almost tripled from around $430 in January to about $1,650 currently. Meanwhile, bitcoin is up 60% year-to-date.

MicroStrategy Just Sent Green Light To Corporate America On Bitcoin

forbes

Earlier this week, bitcoin received a boost from an unexpected source —MicroStrategy a Nasdaq NDAQ listed business intelligence company, made it public that they have purchased 21,454 bitcoin. Per the CEO, Michael J. Saylor, “Our investment in Bitcoin is part of our new capital allocation strategy, which seeks to maximize long-term value for our shareholders.”