Back at the beginning of 2010 Bitcoin was nothing more than an intrepid idea with a whole lot of mathematics and computing behind it.
The International Monetary Fund (IMF) has urged Salvadorean President Nayib Bukele to drop the use of bitcoin as legal tender in the country, on the grounds that there are “great risks associated” with this practice. Bukele officially adopted bitcoin last September.
Bitcoin, the world's most famous cryptocurrency, Wednesday set a new record as it breezed past the US $ 65,000 threshold at 9:43 a.m. Eastern time to ultimately reach the US $ 66,900 about an hour later, it was reported.
A regulatory decision Friday by The People’s Bank of China (PBOC) has led to a sharp fall in the price of cryptocurrencies such as Bitcoin and Ethereum, which have dropped over 6% and 10% respectively after bouncing back in previous weeks.
Paraguay is to receive large investments to install 500,000 Bitcoin miners, as at least eight Chinese economic groups have expressed their interest in relocating their operations to the South American country thanks to its favorable legislation.
Cryptocurrency investors could breathe again Tuesday after Bitcoin first fell below US $ 30,000 for the first time in five months, but eventually managed to rebound up to over US $ 32,000.
The Parliament of El Salvador has passed with 62 out of 84 votes a bill submitted by President Nayib Bukele to classify Bitcoin as legal tender, thus becoming the first country in the world to adopt a cryptocurrency. Its use as legal tender will go into law in 90 days.
Canadian bitcoin miner Bitfarms has announced its plans to start operations in Argentina in early 2022, with a total of 55,000 machines, it was reported. The country emerged as a logical choice due to its relative low expenses in local pesos with all profits in bitcoin, analysts said.
“Get on the train.” That was the response from investment expert Michael Novogratz when asked about his thoughts on Bitcoin (BTC). With the world’s economy in turmoil heading into the second half of 2020, the crypto advocate said now is the time to invest. According to his metrics, BTC is poised to break another resistance level and, thus, raise its baseline average. For investors, that’s a positive sign. However, the latest hype seems to have more substance this time around.
Big Oil is due for a disruption.