Monthly Archives: February 2021

Major exchanges struggle as Bitcoin pumps on $1.5B Tesla investment

As usual, when Bitcoin pumps and traders need stable exchanges more than ever, some are almost guaranteed to go down. Service outages have been reported at major cryptocurrency exchanges on Feb. 8, following the news that Tesla invested $1.5 billion in Bitcoin (BTC). As Cointelegraph reported earlier, news of Tesla’s sizeable investment broke after the discovery of a filing with the U.S. Securities and Exchange Commission. This caused Bitcoin price to jump $3,000 in a matter of minutes, eventually claiming a newall-time high of $44,850. Problems were reported […]

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DeFi snowball will turn into a Web 3.0 avalanche

We are at a pivotal moment in the history of the internet. And DeFi is a symptom of the real shift from centralized services to decentralized. Decentralized finance has exploded over the past 12 months. The swapping, staking and yield farming successes have been well touted. The DeFi market cap has reached $45 billion, and there’s over $28 billion total value locked in DeFi today. That’s up from $600 million in January 2020 — a 4,300% increase. As with all nascent technology, new money flowing into a […]

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Bitcoin goes into ludicrous mode as it briefly flippens Tesla

The crypto asset overtook Tesla Motors in market capitalization following an announcement that the car manufacturer had invested in Bitcoin. Earlier this morning, Tesla Motors announced that it had allocated part of its balance sheet to Bitcoin. Not even two hours have passed, and the crypto asset’s market cap briefly exceeded that of the car manufacturer itself. For a short time today, Bitcoin (BTC) held a market cap of $807,869,728,188 according to data from AssetDash, surpassing Tesla’s at $807,829,441,685. Bitcoin held the 7th spot on the list […]

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It’s Happening: Tesla Buys $1.5 Billion Of Bitcoin

Elon Musk’s multi-billion dollar company, Tesla, has purchased an aggregate $1.5 billion of BTC and will begin to accept the cryptocurrency as payment, per a financial performance report filing with the U.S. Securities and Exchange Commission for the fiscal year ended on December 31, 2020. Per the filing, in January 2021 the company updated its investment policy to “provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity.” This update was officially approved by […]

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Tesla Has $1.5 Billion Worth of Bitcoin on Its Balance Sheet, Plans to Accept BTC for Products

The publicly listed firm Tesla has announced in a Securities and Exchange Commission (SEC) Form 10-k filing that the company has purchased $1.5 billion worth of bitcoin. When the news broke, the price of the leading crypto asset jumped well over 15%, touching a new all-time price high at $44,899 per coin. Tesla, the American electric vehicle and clean energy company based in Palo Alto, California has revealed the company has invested in bitcoin (BTC). This is following the great number of dogecoin (DOGE) tweets stemming from […]

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A turn for the worse? India’s crypto plan unsettling to local industry

The Indian crypto industry sees a brief panic over the government’s plans to ban “private cryptocurrencies” and explore the need for a CBDC. The Indian Crypto community has been involved in discussions with the government about how it should perceive cryptocurrencies and blockchain technology before finding ways to regulate the industry ever since the government placed a now-defunct blanket ban on banks servicing crypto firms in April 2018.  In the latest update, on Jan. 29, the government revealed its plans to introduce The Cryptocurrency and Regulation of […]

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Tesla expects to begin accepting Bitcoin for payment

Tesla is now able to hold Bitcoin in reserves, thus accepting Bitcoin as payment for its cars without necessarily converting it. Elon Musk’s Tesla Motors is following in the footsteps of MicroStrategy and other companies by allocating part of its balance sheet to Bitcoin (BTC). In Monday’s filing with the Securities and Exchange Commission, the company announced it had purchased an aggregate of $1.5 billion in Bitcoin, to be held as an investment and store of value for its excess cash. It is currently unknown what is […]

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Bitcoin hits $43K all-time high as Tesla invests $1.5 billion in BTC

A filing with U.S. regulators confirms that Tesla is on board for Bitcoin payments in future. Bitcoin (BTC) jumped by almost $3,000 in minutes on Feb. 8 as reported emerged that Tesla had bought $1.5 billion worth of BTC. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview BTC price soars above $43,000 Data from Cointelegraph Markets and TradingView tracked BTC/USD as a sudden spike to over $41,000 appeared as news of Tesla’s plans trickled in. A filing with United States regulator the Securities and Exchange Comission (SEC) shows […]

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Bitcoin Cash no longer a top-10 cryptocurrency after being hounded out by Dogecoin

Together with Stellar, Dogecoin passes Bitcoin Cash by market cap and leaves the struggling altcoin in 12th place. The fortunes of beleaguered Bitcoin (BTC) spin-off Bitcoin Cash (BCH) took a turn for the worse on Feb. 8 as it was chased out of the top ten cryptocurrencies — by Dogecoin (DOGE). Data from Cointelegraph Markets and CoinMarketCap showed BCH now occupying 12th place after being passed by both DOGE and Stellar (XLM). BCH kicked out of the top ten The latest embarrassment for the altcoin, which last […]

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Coinsquare launches Quick Trade mobile app with instant funding

One of Canada’s largest crypto exchanges has launched a new mobile application designed to streamline the buying and selling of Bitcoin and Ethereum. Coinsquare, the Toronto-based digital currency platform, has announced a new mobile trading application designed to simplify the buying and selling of cryptocurrencies in Canada.  Quick Trade was officially unveiled Monday, allowing commission-free transactions of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BTC). A total of 15 trading pairs are available at launch, with “many more digital assets to be onboarded over the […]

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