Monthly Archives: February 2021

Bitcoin ignores Lindsay Lohan’s ‘To the moon’ tweet as BTC price dips 7.6%

Words of encouragement from the star fail to get Bitcoin closer to $50,000, with BTC/USD erasing this week’s gains instead. Bitcoin (BTC) lost almost 8% on Feb. 10 as the first significant correction after Monday’s price pump set in. BTC price wobbles at $48,000 Data from Cointelegraph Markets and TradingView tracked BTC/USD as it fell from local highs of $47,360 to briefly touch $43,750 during trading on Wednesday. The pair had been on course to hit $50,000 after clocking new all-time highs earlier in the week thanks […]

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Bitcoin core non-profit gets approved for tax exemption, perks for donors

501(3)(c) status boosts the project’s legitimacy as well as its efficiency in using donations. A new non-profit aiming to fund Bitcoin development education and research has been approved for special tax status, conferring benefits on donors. Brink, which launched in the fall, has been approved as a 503(c)(3) organization according to a Feb. 10 blog post. The status both exempts Brink from federal taxes and provides some interesting benefits to donors, especially considering their use of Bitcoin.  Donations to 503(c)(3) organizations in the U.S. have always been […]

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Coincidence? Company stocks rise after they buy Bitcoin as a reserve

The market caps of most companies that bought Bitcoin have increased recently, but is that solely thanks to BTC? It seems to be the season of giving, and Bitcoin is doing just that, at least for its institutional backers, such as MicroStrategy, Galaxy Digital, Square and Marathon Patent Group, which got in somewhat early on the BTC gravy train. In this regard, PayPal revealed on Feb. 4 that its fourth-quarter profits for the year 2020 had increased by 200% as compared to the previous fiscal cycle, citing […]

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Antier Solutions Executes Transactions Worth $100 Million on Blockchain MLM Platforms

PRESS RELEASE. After transforming businesses across various industries, blockchain has combined with MLM (Multi-level Marketing) to bring profound, positive changes in the industry. India’s Antier Solutions has executed transactions worth a 100 million USD across its blockchain based MLM platforms. At the core of blockchain technology is a “shared distributed ledger” where the data and transactions are recorded. This distributed ledger is accessible to everyone on the network, thereby promoting transparency. Blockchain acts as a new type of database system that allows multiple parties to share access […]

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Haunted by Past Elon Musk Predictions, Gold Bug Peter Schiff Tears Into Tesla’s BTC Acquisition

After previously claiming that Elon Musk was too smart to buy bitcoin, Euro Pacific Capital CEO Peter Schiff is reacting angrily to reports that Tesla has acquired the cryptocurrency. In a series of tweets on February 8, Schiff now claims that Musk has no interest in bitcoin’s store of value credentials but is only interested in pumping the crypto. BTC Bias Allegations In its filing with the U.S. Securities and Exchange Commission (SEC), Tesla says it decided to acquire bitcoin because it fits with the company’s updated […]

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Baidu reportedly aims to address chip shortage plaguing gaming, crypto and cars

Baidu is reportedly planning to commercialize its chip technology by setting up a dedicated subsidiary backed by crypto-friendly venture capital firms. A global chip shortage is affecting various sectors of industry from gaming to automotive and cryptocurrency mining. Amid Bitcoin’s (BTC) ongoing bull run, the crypto mining industry became massively profitable. Many miners started aggressively stacking mining hardware —by sometimes unconventional methods— which led to shortages in other sectors. The COVID-19 fueled surge in gaming consoles, computers and TVs has even had knock-on effects for car manufacturers, who are […]

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Grayscale CEO: Firms race to buy Bitcoin as mood shifts from ‘why’ to ‘why not?’

Grayscale CEO Michael Sonnenshein told CNBC that more tech leaders and institutional investors could follow Elon Musk into Bitcoin after Tesla’s $1.5 billion purchase. Grayscale CEO Michael Sonnnenshein says institutional demand for Bitcoin (BTC) has only increased, moving into 2021, following a record-breaking year that saw Grayscale’s assets under management soar to new heights. Sonnenshein told CNBC’s Squawk Box on Feb. 10 that the record inflows witnessed last year have continued, and interpreted this as a sign that Bitcoin’s current upsurge could continue. Contrary to narratives emanating […]

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Bitcoin’s ‘Elon Musk pump’ rally to $48K was exclusively driven by whales

Bitcoin whales drove the rally to $48,000 and are aggressively buying, Binance exchange data shows. The price of Bitcoin (BTC) rallied to above $48,000 on Feb. 9, and has been consolidating since. Analysts from Material Indicators found that whales were the primary driver of the rally. This is largely considered a bullish sign. The probability of a Bitcoin top would increase when retail investors enter into the market en masse, as both the spot and derivatives markets get overheated. Why are whales driving the price of Bitcoin […]

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Indian Finance Minister Answers Questions on Cryptocurrency Plans and Ban Proposal

India’s Finance Minister Nirmala Sitharaman has answered some questions regarding cryptocurrency in Rajya Sabha, the upper house of India’s parliament. The questions include measures the government plans to impose on the crypto industry. Finance Minister Nirmala Sitharaman Answers Crypto Questions in Parliament The Indian finance minister answered four questions Tuesday in Rajya Sabha regarding the “trading in cryptocurrency,” including measures outlined in the crypto bill. Minister Sushil Kumar Modi asked the minister of finance whether “a ban was imposed on bitcoin trading in 2018,” which was later […]

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Total value locked in DeFi marks new all-time high close to $40B

Total value locked in decentralized finance has hit another milestone, but DeFi proponents would do well to look beyond the effects of the bull market on the gross metric. The total value locked in decentralized finance — a measure of the total value of assets committed to the DeFi ecosystem —has marked a new all-time high close to $40 billion. According to DeFi Pulse, the figure hit the $39.79 billion mark on the morning of Feb. 10.  TVL chart by DeFi Pulse While the bullish milestone is […]

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