Monthly Archives: February 2021

Moment of truth? Tesla purchase is the moment Bitcoin has been waiting for

Despite some expected near-term volatility, Tesla’s exploration of the crypto realm will likely help the industry scale up to new heights. Even though Tesla has made its way into the crypto market recently, it generated an immense amount of publicity surrounding the announcement. On Feb. 8, the car manufacturer caught the crypto world off-guard by committing a cool $1.5 billion into Bitcoin (BTC), as well as announcing that the company will soon be looking to accept payments in crypto. As a result of the news, BTC shot […]

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Chainlink, Aave, Messari and others launch GoodFi crypto alliance

GoodFi claims to be the first cryptocurrency alliance focused on furthering education and research into decentralized finance. Some of DeFi’s biggest players have joined forces to launch a new alliance geared towards furthering the education, research and best practices of the nascent industry.  The GoodFi alliance includes crypto projects Chainlink, Aave, Radix and mStable, as well as digital analytics company Messari. An alliance representative told Cointelegraph that GoodFi “enables companies operating in the DeFi space to collectively work to solve the issues facing a wider base, starting […]

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Bitcoin has made the Naira almost useless, says Nigerian Senator

A cross-section of Nigerian senators have reacted to the recent Bitcoin ban enacted by the country’s central bank. As previously reported by Cointelegraph, the Central Bank of Nigeria issued a circular banning banks from servicing crypto exchanges. Reacting to the news during the Thursday plenary session, Senator Sani Musa of the Niger East Senatorial District remarked: “Cryptocurrency has become a worldwide transaction of which you cannot even identify who owns what. The technology is so strong that I don’t see the kind of regulation that we can do. […]

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Analysts Expect Flood of Companies to Follow Tesla and Hold Bitcoin —Twitter Already Considering

Following Tesla’s move to invest $1.5 billion in bitcoin, analysts are predicting that a flood of other companies will follow suit. Mad Money’s Jim Cramer thinks that all companies should put bitcoin in their balance sheets, and Twitter reveals that it is already looking into doing that. Other Companies Will Follow Tesla’s Bitcoin Example, Say Analysts Following the groundbreaking move by Elon Musk’s Tesla to put $1.5 billion of the company’s cash reserve into bitcoin, many people are expecting other companies to make a similar move. Mad […]

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Amazon job postings hint at digital payments project to launch in Mexico

Amazon has been silently working on a new digital currency project in Mexico, according to the company’s job postings. American e-commerce giant Amazon is developing a new service that will allow its customers to shop using digital currency, according to the company’s job postings. According to an official job application on Amazon, the company is now building a tech team to enable a new digital currency service. Currently known as a “Digital and Emerging Payments,” or DEP, project, the service will initially roll out in Mexico, allowing […]

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Dollar weakness meets alt season: Is Bitcoin price about to hit $50K?

The price of Bitcoin is getting closer to the next major psychological resistance. Bitcoin’s (BTC) price broke through the crucial level at $40,500 as news of Tesla adding $1.5 billion in Bitcoin to their balance sheet. This news event pushed the price to new all-time highs, putting the next major resistance level at $50,000.  What’s more, other cryptocurrencies are accelerating left and right as the landscape is ideal for altcoins to start moving. All-time highs are being established daily across many altcoins while Bitcoin is consolidating. But […]

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America’s oldest bank, BNY Mellon, will custody Bitcoin

The chief executive of the bank’s asset-servicing business says digital assets are becoming “part of the mainstream.” Bank of New York Mellon, America’s oldest bank, has announced plans to hold, transfer and issue Bitcoin (BTC) and other cryptocurrencies as an asset manager on behalf of its clients. The impetus for the decision reportedly came from institutional investors — the top brass of BNY Mellon’s clientele — amid the 2021 bull season for the asset class.  As the Wall Street Journal notes, BNY Mellon is hardly the first […]

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Tesla’s $1.5B Bitcoin buy throws the cat amongst institutional pigeons

Elon Musk is either the hero or the villian of the year after Tesla’s Bitcoin purchase polarized opinion among institutional investors. Not all analysts are convinced that Tesla’s recent acquisition of $1.5 billion worth of Bitcoin (BTC) will prove to be as beneficial for the tech giant as it was for the BTC coin price. Head of equity strategy at Saxo Bank, Peter Garnry, wrote in a research note that Elon Musk had exposed Tesla and its investors to “immense risk”, as reported by Reuters on Feb. […]

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AC Milan fans to use blockchain tokens to vote on soccer club motto

European football giant AC Milan debuts its ACM fan token with a vote on the club motto for the rest of the playing season. Italian football giant AC Milan has just launched its own fan token, enabling fans to vote on a club motto for the season. According to a Feb. 11 announcement, the club’s ACM fan token is now live on fan engagement Socios.com, which allows fans to purchase the token which gives access to club polls, VIP rewards, super-fan recognition, games and chat forums. The […]

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ECB’s Lagarde says central banks holding Bitcoin is ‘out of the question’

The ECB President gives the impression that central banks will avoided copying institutions in hoarding cryptocurrency. The head of the European Central Bank (ECB) thinks that central banks worldwide will not be holding Bitcoin (BTC) any time soon. In a conference call with The Economist on Feb. 10, Christine Lagarde showed herself to be firmly risk-off when it came to decentralized cryptocurrencies. “Out of the question” “It’s very unlikely — I would say it’s out of the question,” she responded when asked about central bank Bitcoin uptake. […]

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