Monthly Archives: August 2021

Bitcoin Is The Societal Foundation For Truth

As we progress into the future, the necessity for Truth remains the requisite base upon which all else must be built. Truth, Goodness, Beauty. The ancient Greeks identified these three transcendental virtues as the requisite underpinning for individual fulfillment and broader societal flourishing. They also believed that all humans have innate capacities that correspond to each of these values. Logos (reason) allows access to truth, ethos (morality) to goodness, and pathos (emotion) to beauty. I believe each one of us resonates most strongly with one of these […]

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How Much Bitcoin Will Coinbase Buy In New Reserve Policy?

We can make estimates on the size of the bitcoin allocation that will be made by Coinbase following announcement of its new reserve policy. The below is from a recent edition of the Deep Dive, Bitcoin Magazine‘s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. “We have committed to invest $500 million of our cash and cash equivalents into a diverse portfolio of crypto assets. Going forward, we will also allocate […]

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Here’s what traders expect now that Bitcoin price rallied back to $50K

Bitcoin is “back in bull market territory” but traders warn that a retest of underlying support levels is bound to occur soon. There was widespread celebration across the crypto ecosystem on Aug. 23 after the sight of Bitcoin (BTC) back above $50,000 triggered a resurgence of calls for the top cryptocurrency to reach $100,000 before the end of 2021.  Data from Cointelegraph Markets Pro and TradingView shows that the early morning bullish momentum that lifted the price of BTC to an intraday high at $50,514 began to […]

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Binance denies allegations of market manipulation

The exchange hinted of legal action against “FUD-peddlers and individuals with malicious intent” threatening its business interests. Major cryptocurrency exchange Binance is pushing back against allegations of market manipulation and working against the interest of its users. In a Monday Twitter thread, Binance seemingly laid the blame for any claims of manipulating the crypto market on publications spreading fear, uncertainty, and doubt as well as certain individuals impersonating employees at the exchange. The firm said it “reserves the right to take legal action to protect its interests,” […]

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Michael Saylor: We Custody Our Bitcoin And Do Not Lend It Out

MicroStrategy CEO explained in a recent interview why people, companies, and governments worldwide should buy and hold bitcoin. In a recent interview at ETF Think Tank, Michael Saylor explained why his company purchases bitcoin directly, custody it themselves, and doesn’t lend it out. The CEO of software intelligence company MicroStrategy also said that people underestimate bitcoin and overestimate everything else in the blockchain and cryptocurrency industries. Saylor is known for his clear-cut approach to bitcoin – buy and hold. However, considering the uprising of many platforms offering […]

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Pro traders are mildly skeptical about Bitcoin’s recent return to $50K

Bitcoin’s price finally recaptured the $50,000 level, but data shows that pro traders are somewhat skeptical for a variety of reasons. The price of Bitcoin (BTC) is back at the $50,000 level, and there’s little doubt that the 47% positive rally over the past 30 days has been fueled by whale accumulation, institutional adoption and positive remarks from regulators regarding a possible exchange-traded fund (EFT) approval. Despite the positive newsflow, the top traders at crypto exchanges and derivatives data appear unmoved by the recent rally to the […]

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DeFi protocol BENQI hits $1B TVL days after launching

Total value locked across DeFi is fast approaching record highs again, suggesting that crypto is in the second leg of its bull market. Liquidity market protocol BENQI has reached $1 billion in total value locked, or TVL, less than a week after launching on the Avalanche (AVAX) network, a major milestone that highlights the explosive growth of DeFi lending services.  Benqi Finance announced the milestone on Twitter late Sunday, where it thanked its community for the overwhelming support. Absolutely speechless… Thank you everyone for the overwhelming support. […]

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Bitcoin Price Breaks 50,000, Bitcoiners Brace For New All Time Highs

Around midnight on Sunday the Bitcoin price broke $50,000, the highest price seen since Bitcoin’s correction in May. Around midnight on Sunday the Bitcoin price broke $50,000, the highest price seen since Bitcoin’s correction in May. After the dip, the Bitcoin price hovered between 30-40k for most of the summer. Although it’s impossible to say for certain, many are projecting the price to significantly appreciate from here to close out the year. Recall that just one year ago today, the Bitcoin price was sitting at around $11,650. […]

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Price analysis 8/23: BTC, ETH, ADA, BNB, XRP, DOGE, DOT, SOL, UNI, BCH

Select altcoins are likely to move higher even as Bitcoin price takes a breather after hitting $50,000 for the first time in months. Bitcoin (BTC) rallied above the psychological hurdle at $50,000 today for the first time since May 15. The sharp rally of the past few days has turned the sentiment bullish with many expecting the resumption of the bull run. Morgan Creek Digital co-founder Anthony Pompliano told CNBC on Monday that Bitcoin could make a blow-off top, similar to the one seen in 2017 when […]

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CFTC commissioner says agency has broad enforcement authority on crypto derivatives

“A trading platform that offers derivatives on digital assets to U.S. persons without registering, or in violation of CFTC trading rules, is subject to the CFTC’s enforcement authority,” said Dawn Stump. Dawn Stump, one of four commissioners currently serving at the Commodity Futures Trading Commission, or CFTC, has released a statement clarifying the agency’s authority with respect to digital assets.  In a Monday statement, Stump said the CFTC is empowered with both regulatory and enforcement authority for commodities. She did not specifically say that digital assets were cash-like […]

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