Bitcoin

The Bermuda Stock Exchange approves Bitcoin ETF.

The Bermuda Stock Exchange (BSX) announced last week that it had approved the Hashdex Nasdaq Crypto Index ETF on its trading platform. This Bitcoin ETF is a joint venture with Hashdex, a Brazil-based fund manager, and the American stock...

Abkhazia’s government blames crypto mining for the rising energy crisis in the region – a report by Saumil Kohli.

According to the Jam News report, government's year-old ban on crypto mining has not been respected nor enforced by the local authorities, with crypto miners continuing to take advantage of the area's low energy costs. The director of operational...

Bitcoin ATMs increase around the world by 87% in 2020 – a report by Saumil Kohli.

According to Norwegian financial services company AksjeBloggen, the number of Bitcoin ATMs has jumped 87% in 2020, from the 5336 recorded in September 2019. In 2020 alone, nearly 3,900 new bitcoin ATMs were added. Monitoring resource CoinATMRadar shows there are currently...

Jihan Wu gains the legal upper hand in the ongoing power struggle for Bitmain – a report by Saumil Kohli.

The co-founders of crypto mining machine manufacturer giant, Bitmain, have been locked in a battle for control over the past few months. Co-founders Jihan Wu and Micree Zhan have been in disagreement since October last year when Wu ousted...

Energy consumption by bitcoin is now comparable to the Czech Republic.

Bitcoin's estimated energy consumption and environmental impact has increased quite significantly. The energy consumption grew due to the heavy power demands of mining rigs until May's halving event, at which point it fell off a cliff as mining rewards...

Twitter CEO Jack Dorsey believes bitcoin could be the native currency of the Internet.

In a chat with Reuters, Twitter, and Square CEO Jack Dorsey, further showed his commitment and trust in the leading cryptocurrency Bitcoin (BTC), naming it as the strongest contender to become the "native currency of the internet." Over the...

Chinese Bitcoin mining company Canaan spends $10 million to buy back shares – a report by Saumil Kohli.

In 2019, Canaan, the Chinese company that makes computer chips and other hardware for Bitcoin mining rigs, priced its shares at $9 on the Nasdaq stock exchange as part of a $90 million initial public offering (IPO). Now, with...

Gold advocate Peter Schiff admits he was wrong about bitcoin.

The bitcoin critic and gold advocate Peter Schiff maybe admitting that there's at least some flaw in his predictions after acknowledging the coin did not "collapse" as gold rose to a new all-time high last month. In a Twitter...

Swiss canton Zug will now accept Bitcoin and Ether for Tax payment – a report by Sahil Kohli.

The canton of Zug administration announced the news on Thursday, saying that beginning February 2021, companies and individuals will be able to pay their taxes in the two major cryptocurrencies, bitcoin and ether of up to CHF 100,000 ($110,000). The Zug...

Kazakhstan is looking to attract $700 million worth investment for the crypto mining sector – a report by Sahil Kohli.

According to the Reuters report, Kazakhstan is in talks to attract investments worth 300 billion tenge ($714 million) into the cryptocurrency sector, Digital Development Minister Bagdat Mussin. The Asian country claims to account for 6% of global cryptocurrency mining. Kazakhstan...

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US Banks can now hold reserves in stablecoins.

The U.S. regulators have given banks and financial institutions the authorization to hold reserves in stablecoins, opening up new...