Coincorner247 The Latest Crypto News Over The World

Crypto News

Bitcoin Believer Balaji Srinivasan Holds Steady on $1M Bet Despite US Debt Woes

Former Coinbase executive Balaji Srinivasan is standing by his prediction that Bitcoin will hit $1 million on the back of a US economic crisis caused by failing banks and hyperinflation. He believes bank runs happen faster in a digital world and sees an exit from the US banking system towards Bitcoin. Despite some viewing his bet as a stunt, Srinivasan says he won't backtrack on his call, citing the rising likelihood of a US sovereign default. Despite the high uncertainty, he is committed to his bullish call on Bitcoin.

The Daily Hodl - 1211 ngày trước

Coinbase Takes on Global Markets with 5x Leverage Perps Exchange

Coinbase is launching the Coinbase International Exchange for international users to trade bitcoin and ether perpetual futures out of Bermuda. The exchange offers a robust trading experience with external market makers providing liquidity, and a liquidation framework that complies with standards. Coinbase plans to begin with bitcoin and ether derivatives, with more listings in the future. Initially, it offers 5x leverage. Perpetual futures account for nearly 75% of global crypto trading volume in 2022, providing high liquidity and additional trading strategies for traders., according to Coinbase.

theblock - 1212 ngày trước

MicroStrategy's Unwavering Bitcoin Investment Strategy Leads to Q1 Profit

MicroStrategy, the business intelligence platform founded by Michael Saylor, has reported a Q1 2023 profit of $94 million and reiterated its commitment to Bitcoin investment. The firm purchased 7,500 BTC in Q1 and now holds 140,000 BTC at an average cost of $29,803. CEO Phong Lee reaffirmed the firm's "strong" commitment to Bitcoin investment. MicroStrategy's chairman Michael Saylor attributed the profitable quarter to executing the firm's core business model and Bitcoin investment strategy, which he described as the "right strategy."

cointelegraph - 1212 ngày trước

Raoul Pal Says Crypto Will Outpace Traditional Assets Amid Currency Debasement

Raoul Pal, former Goldman Sachs executive and Real Vision founder, predicts that currency debasement will continue, which will negatively affect the majority of people. He believes that high-quality crypto and tech stocks are the only assets that can outrun this debasement, as they have the highest beta to global central bank balance sheets. Pal says that Bitcoin, which was invented for this purpose, and Ethereum are available to anyone and offer opportunities for profit.

The Daily Hodl - 1212 ngày trước

Bitcoin's Transactions Surge to an All-Time High

Bitcoin set a new record for daily transactions, with over 568,300 processed on Sunday, exceeding the previous high during the 2017 bull run by nearly 78,000. Over 307,000 transactions involved Ordinals, a feature introduced in January that allows users to attach data to individual Satoshis, the smallest unit of Bitcoin, creating a unique digital asset similar to NFTs. Ordinals constituted approximately 54% of Bitcoin's daily transactions at the peak. The high usage of Ordinals signals a significant change in Bitcoin mempools, according to Glassnode.

Blockworks - 1212 ngày trước

Jack Dorsey's Nano Bitcoin Mining Chip Prototype a Potential Game Changer

Block, owned by Jack Dorsey, has developed a prototype 5 nanometers (5nm) Bitcoin mining chip to decentralize the industry and reduce concentration in the hands of a few companies. Block aims to make the technology open source and will sell standalone ASICs and hardware components to promote innovation. The company has bought a large batch of ASIC chips from Intel to expedite the development of its proprietary 3nm chip, which it claims will be the most advanced chip to date.

cointelegraph - 1213 ngày trước

Bitcoin Whales Add 64,094 BTC to Their Stash Worth $1.8 Billion

Bitcoin whales have accumulated almost $2 billion worth of BTC during its latest price dip, with investors holding between 100 and 10,000 BTC adding over 64,000 BTC to their stashes since April 11th, according to Santiment. Meanwhile, IntoTheBlock reports that market participants have sent over $1B in BTC to centralized crypto exchanges in the past week, possibly for selling. Two previously dormant BTC whales have also recently emerged, with one moving $10 million and the other transferring over $60 million worth of Bitcoin.

The Daily Hodl - 1213 ngày trước

Bhutan Confirms It's Been Mining Bitcoin For a Long Time Using Renewable Energy

Bhutan's government-owned holding company, Druk Holding and Investments (DHI) has confirmed that it has been mining Bitcoin for several years as part of its diversified portfolio. DHI officials assured that the risks associated with cryptos are mitigated, and the investment pays for itself by selling Bitcoin to cater to mining operational costs. The mining operation is powered by Bhutan's renewable energy source, generated through hydro projects. The venture into crypto mining is part of Bhutan's efforts to spur economic growth, with technology viewed as a key element.

Finbold - 1213 ngày trước

Bitcoin Could See 68% Jump if US Defaults on Debt, Standard Chartered Says

Market analysts predict a potential rise in Bitcoin's value if the United States defaults on its debt. Standard Chartered's Geoff Kendrick believes Bitcoin could reach $49,000, a 68% growth from its current value, due to its reputation for performing well in times of stress. Kendrick suggests that Bitcoin's safe haven status makes it an optimal trade, unlike other cryptocurrencies that may trade like stocks and fall during a default. Despite expecting some volatility, Kendrick expresses his bullishness towards Bitcoin, predicting it could reach $100,000 by the end of 2024.

Finbold - 1214 ngày trước

Millennials Fueling Crypto Boom With 46% of Them Owning Cryptocurrencies

Bitget conducted a survey of 255,000 individuals from 26 countries on their cryptocurrency activities between July 2022 and January 2023. Millennials topped the chart for virtual assets participation, with 46% owning crypto, followed by Gen X (25%), Gen Z (21%), and baby boomers (8%). Additionally, 27% of Millennials and 36% of Gen Z respondents emphasized the importance of crypto regulations. Furthermore, a Charles Schwab survey in the US revealed that 46% of Gen Z and 45% of Millennials want virtual assets added to their retirement funds.

Bitcoinist.com - 1214 ngày trước

Crypto News

Bitcoin Open Interest Surges by $1.8 Billion as Price Breaks $27,000

Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.

newsbtc - 1072 ngày trước

Bitcoin Poised for Parabolic Rise with Institutional Capital Inflow, Says Morgan Creek Capital Founder

Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.

The Daily Hodl - 1072 ngày trước

Citigroup Leads the Way with Permissioned Blockchain for Institutions

Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.

Blockworks - 1072 ngày trước

Bitcoin Dominance Soars Above 50%, Emerging as the Crypto Safe Haven

Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.

U.Today - 1072 ngày trước

Animoca Game Studio Pioneers Bitcoin-Backed Metaverse Token, Ushering in Bitcoin's Next Phase

Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.

Bitcoin News - 1073 ngày trước