Amid the negative price rally of Bitcoin in the past two days, Square Inc. has revealed that it purchased $170 million worth of the digital asset. Combined with the firm’s earlier $50 million Bitcoin purchase, Square now holds approximately five percent of its total cash in Bitcoin as of
MicroStrategy’s CEO Michael Saylor has remained one of the most vocal evangelists of Bitcoin. He is not ashamed to preach about the digital asset at every opportunity. In his latest price prediction, Saylor revealed that Bitcoin’s market cap could eventually surpass $100 trillion. While speaking on CNBC’s
A report from crypto market data aggregator, Glassnode, reveals that whales offloaded a massive stash of their Bitcoin holding in February, after a prolonged period of accumulation. According to Glassnode, big-money players have sold 140,000 Bitcoin, equivalent to $6.72 billion since the start of the month. The crypto
Crypto Forecast, an analytics firm that employs Neural Network to provide state-of-the-art crypto price predictions has released a major upgrade to its mobile app. In addition to several fixes and improvements, the app integrated BTC PEERS as another news source. Consequently, users will have more news options to help them
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A South Korean public blockchain platform, Bosagora, unveiled the blueprint of ‘T-Fi’ on February 17 with it’s launch slated to be on February 22. Investors will be able to participate in T-Fi lending through T-Fi Labs starting on the 22nd. 'T-Fi’, short for True Finance, is a DeFi
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A year into the pandemic, Covid-19 has visibly put the world out of order, incurring a total loss of $28 trillion in production output. Now, the central question that concerns all policymakers around the world is how we can pick up the threads of the fallen economy and restore the
According to data compiled by Finbold, the number of Bitcoin millionaires currently sits at over 100,000. Out of 109,952 wallets that hold over $1 million worth of Bitcoin, about 9,200 addresses each have about $10 million. Despite experiencing a major correction, Bitcoin has continued to attract a
Lee Ju-yeol, the Bank of Korea Governor has voiced his skepticism over digital assets like Bitcoin. While disclosing that his bank was working on a digital currency project, the head of South Korea’s central bank opined that Bitcoin had no intrinsic value. As reported by local news agency Yonhap
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MoneyGram appears to be late to the Ripple-dumping party. The global money transfer service revealed in its quarterly outlook that it was suspending trading on Ripple’s platform, citing the ongoing lawsuit with the U.S. Securities and Exchange Commission. MoneyGram’s decision is coming about two months after several
The South Korean government does not want to wait until 2023 to begin taxing Bitcoin and other cryptocurrencies. According to a new revelation from the country’s Ministry of Economy and Finance, the crypto tax policy would take effect on January 1, 2022. Local news outlet Arirang reported on Monday
After months of continued hype and Bull Runs, the cryptocurrency market is finally faced with the reality that things could go south quickly. In the past 24 hours, the total crypto market cap has slipped from $1.7 trillion to $1.3 trillion, losing about $400 billion in a single
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The narrative that digital assets are the future of finance is becoming increasingly popular. From the mass exodus of institutional investors into the industry to the rollout of crypto services from traditional payment processors like Visa and PayPal, the sector has gained a lot of traction in recent times. Apparently,
The Nigerian government is rethinking its earlier decision to ban cryptocurrencies. Officials opined that banning Bitcoin was akin to staying static while the rest of the world was moving forward. Whilst speaking at the Association of Capital Market Academics of Nigeria (ACMAN), Kevin Amugo, Director for Financial Policy at the
Treasury Secretary Janet Yellen has continued to highlight everything bad about Bitcoin. In her recent criticism of the digital asset, she called it “extremely inefficient.” The recently-appointed Secretary reiterated her belief that Bitcoin is primarily used for illicit transactions. She went further to state that it is an inefficient form
In the past 24 hours, collections from Ethereum-based digital art app CryptoPunks, have dominated the NFT marketplace. According to a tweet from Larva Labs, CryptoPunks did around $15 million in trading volume within 24 hours. Apart from DeFi, the non-fungible token (NFT) market has gained a lot of traction in
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Analysts from JPMorgan have argued that Bitcoin’s rising illiquidity could be bad for the digital asset. Their statement comes amid Bitcoin’s sharp drop to below $50,000 after hitting a new all-time high of $58,000 over the weekend. Although the consensus is that scarcity could drive prices