Monthly Archives: February 2021

Square Adds $170 Million More in Bitcoin to Balance Sheet — Company Now Holds 5% of Total Cash Reserves in BTC

Square has bought more bitcoin, adding $170 million worth of the cryptocurrency to its balance sheet. The company now holds 5% of its cash reserves in bitcoin. Its Cash App was used by more than three million customers to purchase or sell the cryptocurrency last year. $170 Million Bitcoin Purchase Square Inc. (NYSE: SQ) announced Tuesday its fourth quarter and full year 2020 results. The company also announced that it has purchased $170 million worth of bitcoin “as part of its ongoing commitment to the cryptocurrency.” This […]

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MicroStrategy Buys $1.026 Billion Of Bitcoin

After raising more than $1 billion dollars to buy bitcoin last Friday, MicroStrategy announced today that it has completed a purchase of approximately 19,452 BTC, purchased for an aggregate price of $52,765 per bitcoin. CEO Michael Saylor announced the monumental purchase via Twitter. MicroStrategy has purchased an additional ~19,452 bitcoins for ~$1.026 billion in cash at an average price of ~$52,765 per #bitcoin. As of 2/24/2021, we #hodl ~90,531 bitcoins acquired for ~$2.171 billion at an average price of ~$23,985 per bitcoin. $MSTRhttps://t.co/FbsRYhXEhn — Michael Saylor (@michael_saylor) […]

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As Bitcoin Surges, Investors Find Invictus Capital’s C10

This is a promoted article provided by Invictus Capital. As the bitcoin price finds its footing among all-time high levels, following a meteoric bull run that’s been ongoing for nearly a year, investors are increasingly looking for ways to get exposure to the asset. But many of these potential Bitcoiners are also interested in the broader cryptocurrency market, as well as mitigating the volatility that is so common in the space. Many within this group have found Crypto10 Hedged (C10), a unique index fund provided by Invictus […]

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Canadian bank plans to launch dollar-backed digital currency ‘in the coming months’

Stablecorp CEO Jean Desgagne said VersaBank’s digital currency was intended to provide an alternative to concerns over volatility and security in crypto markets. In an announcement on Wednesday, VersaBank said it plans to launch a digital currency called VCAD, which will reportedly be backed by Canadian dollars deposited with the bank. The Canadian bank claimed that VCAD would effectively be “the first digital currency to represent a fiat currency” issued and backed by a North American bank. VersaBank said it had partnered with Canada Stablecorp, a joint venture […]

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ETH mining still highly profitable despite upcoming Eth2 upgrade

Miners weigh in on lucrative ETH mining payouts as the blockchain eyes a transition away from its proof-of-work consensus in 2021. Ethereum miners continue to enjoy lucrative payouts for their efforts in 2021, while the smart contract blockchain platform edges closer to a move away from its proof-of-work consensus. The past few months have been phenomenal for much of the cryptocurrency space, as the likes of Bitcoin (BTC), Ether (ETH) and various other coins have seen monumental gains in value. The increased volume of transactions and users […]

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The Fed Is Carefully Examining Digital Dollar — Chairman Jerome Powell Says ‘Very High Priority Project for Us’

Federal Reserve Chairman Jerome Powell has provided an update on the progress of a digital dollar. He confirmed that it is a “very high priority project” for the Fed, and agrees with U.S. Treasury Secretary Janet Yellen on the benefits of issuing a digital dollar. The Fed Is Looking Carefully at a Digital Dollar Fed Chair Jerome Powell testified on Capitol Hill before the Senate Banking Committee Tuesday, the first of two days of congressional testimony. He is speaking before the House Financial Services Committee on Wednesday. […]

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LOT=true Or LOT=false? This Is The Last Hurdle Before Taproot Activation

The discussion on Taproot activation appears to have reached its final stage, with the remaining decision revolving around the activation parameter LOT. The code for Taproot, a proposed Bitcoin protocol upgrade for compact and privacy-preserving smart contracts, has been included in the most recent version of Bitcoin Core, currently the de-facto reference implementation for the Bitcoin protocol. The only remaining step is for the upgrade to activate on the Bitcoin network. But as a consensus system without central authority, Bitcoin protocol upgrades can be challenging. If one […]

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Chainlink rolls out OCR system upgrade, reducing gas costs tenfold

The Off-Chain Reporting upgrade changes how oracles aggregate data, easing the burden on the blockchains. Chainlink (LINK) has launched a major upgrade for its oracle network, dubbed Off-Chain Reporting, or OCR. The upgrade was announced on Wednesday, though the implementation has been live for some time already. OCR changes how data across multiple sources is joined together by the oracle network. Previously, the process of aggregating different readings of the same desired input, for example a token’s price, was done on-chain. Chainlink nodes would submit their individual […]

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Sam Bankman-Fried: The crypto whale who wants to give billions away

“The brutal or inspiring truth… is that the more you put in, the more you get out.” Like many people in crypto, Sam Bankman-Fried is in it for the money. As the founder of quant trading firm Alameda Research, exchange FTX and DeFi protocol Serum, the curly haired 28-year-old has amassed a $10 billion fortune in just three years in the industry. Unlike most people in crypto though, he’s building up a fortune in order to give half of it away. An effective altruist hes essentially robbing […]

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Total estimated crypto users worldwide tops 100 million, survey finds

Bitcoin’s runaway growth in January boosted the global crypto user base by close to 16%, according to an analysis from Crypto.com. Crypto exchange and debit card provider Crypto.com has published a new report estimating that the total number of crypto users globally rose from 66 million in May 2020 to 106 million by January. Given the complexity of mapping unique crypto wallet addresses onto the number of persons, Crypto.com’s methodology combines on-chain data with several blended parameters to calculate separate estimates for the two largest cryptocurrencies by […]

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