Tuesday marks the official adoption of bitcoin by El Salvador. Both supporters and opponents alike will be closely watching to see if there are enough people willing to transact bitcoins. Nayib Bukele, President of the Bitcoin Foundation, has been tweeting about buying bitcoins first and then buying them later. El Salvador just purchased its 200th coin. Our […]
Why Bitcoin Is So Divisive
One of the strangest things about crypto is its divisive nature. Depending on who you talk to, crypto could be described as either “potentially revolutionizing the global economy” or “worse than tulip bulbs”. This is a rare asset class that generates such extremes. Some people like emerging markets and some people don’t, but no one threatens […]
Bitcoin ETF to open the door to six-figure prices, says crypto trader
According to one crypto trader, bitcoin is climbing the ladder to $50,000. One critical event in the space could open up the floodgates to institutional money. This would make bitcoin a potential six-figure asset. The approval of an ETF will be the most significant single event in bitcoin’s history. It would allow a large pool […]
SEC Chair Hints Bitcoin ETF Possible
After Tuesday’s speech by Gary Gensler, the Chair of the Securities and Exchange Commission, hopes for a U.S.-listed Bitcoin ETF increased. However, his strong remarks about the need for more regulation within the crypto space dampened the optimism. Bitcoin Futures ETF Favored Gensler’s most prominent comments regarding ETF investors were about the possibility of a […]
Bitcoin’s Corporate Diehards Face Earnings Reckoning After Slump
Bitcoin’s corporate champions need to be held accountable for the brutal cryptocurrency selloff. After the drop in price of Bitcoin in the second quarter, companies such as MicroStrategy Inc. and Tesla Inc. will need to report on their digital holdings next week. Square Inc. is one of few large companies that has added cryptocurrency to its […]
Former Heavyweight Boxing Champion Mike Tyson Asks Fans if They Prefer Bitcoin or Ethereum
Former professional boxer known as “Kid Dynamite” and “Iron Mike”, tweeted on Saturday about bitcoin and ethereum and asked his followers to choose their favorite crypto asset. Tyson is very familiar with bitcoin. On July 25, 2015, Tyson tweeted about an automated teller machine (ATM), that had his image. A website called miketysonbitcoin.com was also shared by Tyson. It […]
El Salvador Needs To Understand The Bitcoin Network
The mainstream media and Bitcoiners have been very interested in recent news about El Salvador. What will ordinary Salvadorans do with bitcoin? This is the most important question. Is it possible to secure bitcoin in less privileged communities? Lightning Onboarding It is clear that most people are not tech-savvy and don’t have the time or patience to […]
Are Bitcoin Prices Getting Ready To Break Free Of Their Current Malaise?
Bitcoin prices have traded in a fairly well-defined range recently, but could a multimonth low in the technical indicator’s value signal a breakout? According to coinDesk, the world’s most popular cryptocurrency has been trading between $30,000- $42,000 since May. Omkar Godbole , CoinDesk’s reporter, wrote earlier today about digital assets’ market conditions, emphasizing a specific technical indicator. He […]
Venezuela to Slash Six Zeros From Its Currency to Facilitate Payments
Venezuela’s government is currently studying a mathematical redenomination for its currency, the sovereign bolivar. This will make it easier to pay large companies. The redenomination would reduce six zeros to make it easier for companies to calculate high amounts of payments. Although there is no official announcement, Bloomberg reported that three people who are familiar with the subject commented. […]
Recent IRS Memorandum Reaffirms Bitcoin, Ether & Litecoin Exchanges Are Not Like-Kind
Tax legislation before January 1, 2018 let you defer capital gains taxes if you trade one house with another similar land (also referred to as a Like-Kind trade ). Determined by this tax legislation and also the murky crypto tax advice that originated before 2018, a few cryptocurrency holders employed like-kind exchange remedy to crypto-to-crypto […]