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Bitcoin is at Tipping Point, Says Fidelity Digital Assets’ Head

A few months after questioning bitcoin’s store of value status, Tom Jessop, the head of Fidelity Digital Assets, stated that BTC and the entire industry are at a “tipping point” in terms of maturation and global adoption. He breached the COVID-19 pandemic and the “ultralow” interest rates as the most significant reasons behind crypto’s rise. Tipping Point for Bitcoin Adoption Fidelity Investments has been among the most receptive institutions when it comes down to the cryptocurrency industry for years through its crypto arm – Fidelity Digital Assets. The branch’s President, Tom Jessop, gave somewhat surprising for some comments in late…

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Fidelity Says Bitcoin Adoption Will Keep Accelerating — ‘We’ve Reached a Tipping Point’

Fidelity’s head of digital assets says that bitcoin adoption will continue “at an accelerated pace,” noting that “we’ve reached a tipping point.” He explained that investors are increasingly drawn to bitcoin “Particularly, in an environment where we’ve seen unprecedented monetary and fiscal stimulus from central banks and governments in response to the pandemic.” The Tipping Point of Bitcoin Adoption Tom Jessop, president of Fidelity Digital Assets at Fidelity Investments, talked about bitcoin adoption Wednesday during an interview at Marketwatch and Barron’s “Investing in Crypto” event. Jessop is also head of Corporate Business Development for Fidelity Investments. The Fidelity executive says…

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U.S. Real Estate Giant Caruso Properties Adopts Bitcoin (BTC) 

Caruso properties have announced that it’s now accepting bitcoin (BTC) for rent on all its properties. Just like MicroStrategy and several other companies across the globe, Caruso has allocated a portion of its balance sheet to bitcoin, according to a report on April 7, 2021. Caruso Properties Joins the Bitcoin Movement  Caruso, one of the Read More

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PayPal CEO Says Bitcoin Could Be a Chinese Financial Weapon Against the U.S.

PayPal CEO Peter Thiel loves Bitcoin but hates it when China mines or uses it. In a virtual event organized by the Richard Nixon Foundation, Peter Thiel explained that Bitcoin could be used by China as a weapon in the non-conventional war against the United States, taking advantage of its characteristics to counteract the hegemonic power of the dollar. “Even though I’m sort of a pro-crypto, pro-Bitcoin maximalist person, I do wonder whether at this point Bitcoin should also be thought in part of as a Chinese financial weapon against the U.S.” The World vs The United States Peter Thiel…

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Music Company Founded by Dr. Luke Enables Bitcoin Payments for Songwriters and Producers

Bitcoin mainstream adoption is not limited to celebrities endorsing the cryptocurrency via social media or interviews on TV. The music industry is also interested in joining the bandwagon, with an independent publishing company recently enabling bitcoin payments. Bitcoin Adoption Comes in Response to the Requests of Prescription Songs Creators According to Variety, Prescription Songs, founded by Dr. Luke (Lukasz Sebastián Gottwald), is now offering its roster of producers and songwriters the option to send payments in bitcoin (BTC). The feature is possible thanks to a partnership signed with crypto payments provider Bitpay. Dr. Luke is a well-known hitmaker in the…

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Coinbase handled trades and custody for Meitu’s $90M crypto investment

Meitu chief financial officer Gary Ngan said the firm would have faced difficulties acquiring crypto on its own as a listed company. Crypto exchange Coinbase's institutional custody platform helped execute the purchase and custodying of roughly $90 million of Bitcoin and Ether for Chinese tech company Meitu. In a blog from Coinbase today, the United States-based crypto exchange said Meitu used its services to execute up to $90 million worth of crypto transactions “across multiple marketplaces with minimal market impact.” This month, the tech firm purchased 379 Bitcoin (BTC) for roughly $17.9 million and 15,000 Ether (ETH) for $22.1 million,…

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Open Interest on Bitmex Drops 16%: Investors Withdraw 37,000 BTC in Less Than 24 Hours

Data from Arcane Research shows that open interest on Bitmex’s bitcoin derivatives market touched a new low of 45,122 BTC on October 1. The figure represents a 16% drop since the CFTC announced charges against Bitmex and its executives for allegedly operating an unregistered trading platform. According to Arcane Research’s post on Twitter, “the former yearly low was painted on the 30th of April when the open interest bottomed at 61,975 BTC.” The post adds that in the wake of the act CFTC, traders are “definitely closing their positions on Bitmex.” Open interest (OI) is the total number of outstanding…

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MyEtherWallet’s founder used to pay his rent by mining Bitcoin

His big takeaway? Mining rigs give off a lot of heat. Kosala Hemachandra, founder and CEO of crypto asset storage platform, MyEtherWallet, mined Bitcoin as a way to pay his Los Angeles rent between 2014-2015. When it came time to pay his bills, he would convert his coins into cash to facilitate the actual transaction. In conversation with Cointelegraph, Hemachandra reminisced about purchasing Bitcoin mining equipment in college while renting a room at his friend's home. "I bought a Bitcoin miner and then I had it in my room," he told Cointelegraph in an interview. "I was mining it and…

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‘No coiner’ TikTok star launches finance podcast with Bitcoin bull Pomp

‘I do believe crypto is its own asset class and one worth exploring,’ said the TikTok star. A 21-year-old social media star famous for his TikTok videos is entering the crypto space, guided by Bitcoin bull Anthony ‘Pomp’ Pompliano. Bryce Hall has launched a finance podcast with Pompliano called “Capital University”. Unlike Pomp’s regular podcast, which is focused on business, investing, and promoting Bitcoin (BTC), the joint venture will cross the generational divide, as the 32-year-old Pomp learns how social media influencers are making money, while Hall learns tips about building generational wealth through investment strategies. “I just want to…

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Venezuela sees its first Blockstream Bitcoin satellite node

"Users can’t afford to be cut off from the Bitcoin network." A Bitcoin services startup based in South America has just launched the first Bitcoin node connected to the Blockstream satellite network within Venezuela. According to a Sept. 25 blog post from startup Cryptobuyer, the launch of the node will keep the Bitcoin (BTC) blockchain updated for Venezuela users without being dependent on a local internet connection. Crypto training course provider AnibalCripto deployed the node while CryptoBuyer provided financial and logistical support.  “Having a 24/7 always-available digital money system independent of local internet infrastructure is now a reality,” said AnibalCripto…

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Grayscale Investments now controls 2.4% of the current BTC supply

The investment firm purchased 17,100 BTC in the last week. Crypto fund manager Grayscale Investments has increased the assets under management in its Bitcoin Trust by more than $180 million over the past week. According to data from information platform Bybt, Grayscale added 17,100 Bitcoin (BTC) to the firm’s Bitcoin Trust in the last seven days. The company now has 449,900 total coins under management — worth roughly $4.9 billion with the crypto asset at $10,890, closing above $10,000 every day for the last 63 days. This effectively means Grayscale controls roughly 2.4% of total coin supply — currently at…

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Square CEO Jack Dorsey says Bitcoin holds the keys to security

He also took the time to discuss how content saved via Blockchains becomes effectively immutable. The Oslo Freedom Forum, an event-based entity under the wing of the Human Rights Foundation, or HRF, digitally hosted Square CEO Jack Dorsey for a quick interview on YouTube. During the engagement, the CEO spoke positively of crypto's largest asset, Bitcoin (BTC).  "The whole spirit of Bitcoin, for instance, is to provide a trusted system in a distrusted environment, which is the internet," Dorsey told host and HRF president Thor Halvorssen in an interview, published on Sept. 25.  Dorsey's comment came in the midst of…

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Could holding 0.28 BTC could put you in the 1% wealth bracket?

The numbers line up, but do the facts? A large portion of Bitcoin's (BTC) value lies within its limited 21 million coin supply, which means ownership of a small portion could lead to significant wealth — if mass global adoption occurs.  "There is only 0.0027 BTC for the current 7 billion people," trader, Bitcoin evangelist, and Twitter personality Davincij15 said in a Sept. 22 tweet, noting the worlds total population in relation to Bitcoin's total supply. Davincij15 is known for his early Bitcoin commentary, which harkens back to the asset's early days in 2011. "If you HODL 0.28 BTC, and Bitcoin is…

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Are we dumb? Financial illiterates ‘twice as likely to own crypto’

Those with less financial knowledge may be twice as likely to invest in crypto. A report from Canada’s central bank shows that while most Canadians are knowledgeable about basic finance and Bitcoin, few actually hold any crypto assets. According to the results of Bank of Canada’s 2019 Cash Alternative Survey published in August 2020, financial literacy is positively associated with the awareness of cryptocurrencies but negatively associated with ownership. The bank considers financial literacy as a basic understanding of investing and saving for retirement, with 47% of respondents from August to September 2019 estimated to have a high level of…

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MicroStrategy CEO could ‘liquidate $200M in Bitcoin on a Saturday’

‘We can liquidate it any day of the week, any hour of the day,’ said Michael Saylor. Michael Saylor has said that all $400 million of business intelligence firm MicroStrategy’s Bitcoin reserve holdings could be liquidated at any time. In a Sept. 22 interview, Saylor told Bloomberg that although “volatility isn’t really a reason to sell,” he would not hesitate to dump MicroStrategy’s 38,250 Bitcoin (BTC) at a moment’s notice if an alternative asset’s yields were to jump. Selling such a large amount of the crypto asset could easily cause a significant price drop, as happened in June when whales…

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Bitcoin is a better gold than gold itself, Tyler Winklevoss says

Bitcoin may never escape its ongoing comparisons to gold. According to Tyler Winklevoss, co-founder of the Gemini crypto exchange, Bitcoin beats gold at its own game.  "Bitcoin is better at being gold than gold — and not just incrementally, but by an order of magnitude or 10X better," Winklevoss said in a Sept. 21 tweet.   Over the last decade or so, Bitcoin has risen dramatically in price, surpassing numerous landmark price comparisons along the way. For many, it is now seen more as a store of value than a transactional currency, and the public often compares the digital coin against gold; a…

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Nigeria SEC Says It’s Well Equipped To Regulate Cryptocurrencies

According to new reports today, the Commission has further explained that the move was part of its effort to protect investors, and it is well equipped to provide the required regulations. Last week, the Securities and Exchange Commission, Nigeria (SEC Nigeria), published a proposed set of regulations for the cryptocurrency and blockchain space, given the increasing importance of regulation. Making The Crypto Space Comfortable Commenting on the development, Emomotimi Agama, Head, Registration, Exchanges, Market Infrastructure, and Innovation at SEC Nigeria explained that the regulator is determined to provide a safe investment environment comfortable for all market participants in the sector.…

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DeFi right now is like ‘trying to fly to the moon in a cardboard box’ — Diginex CEO

DeFi is almost certainly the future, but that future may not be today. The decentralized finance, or DeFi, sector of the crypto industry has been bursting with exuberance, innovation, and speculation in recent months. The niche is still very much in its infancy, however, according to Richard Byworth, CEO of digital finance company Diginex. "I do believe that DeFi is the future potentially down the road," Byworth said in an interview with Morgan Creek Digital co-founder Anthony Pompliano, posted on Sept. 18. "But it's very early," he added, elaborating: "It's like trying to fly to the moon in a cardboard box —…

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Early Bitcoiner got into the space due to his lack of Blackjack skills

Bitcoin losses hurt more as the price goes up. Joel Birch, co-founder of automated crypto investment platform Stacked, detailed his initial dive into Bitcoin (BTC) as a way of gambling on the internet.  "I bought my first Bitcoin because I was playing Blackjack online," Birch told Cointelegraph in an interview. "Bitcoin was about $250 a piece, and so, back in 2015, I lost what would be the equivalent of hundreds of thousands of dollars today, playing Blackjack." Between 2015 and 2017, Bitcoin rose from $200, all the way to $20,000 on some exchanges, meaning Birch's early Blackjack losses turned out…

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Bitcoin ATMs surge by 87% in past year to surpass 10,000 globally

2020 has witnessed a surge in the number of ATMs supporting digital coins. The total number of Bitcoin ATMs has now passed 10,000 worldwide. According to Norwegian financial services company AksjeBloggen, the number of Bitcoin ATMs (BTMs) has jumped 87% in the past year, from the 5336 recorded in September 2019. In 2020 alone, nearly 3,900 new ATMs were added. Monitoring resource CoinATMRadar shows there are currently 10,014 ATMs in 71 countries allowing users to buy and sell Bitcoin (BTC) and altcoins for cash.  “2020 has witnessed a surge in the number of ATMs supporting digital coins,” stated the AksjeBloggen…

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