Jurrien Timmer showcased a profound misunderstanding of Bitcoin and its true potential on CNBC. Fidelity Investments director of global macro Jurrien Timmer appeared on CNBC today to discuss his bitcoin price prediction models, market outlook, and opinion on the current rally. Timmer shared a bearish prediction for BTC, bullish inclinations towards the dollar as the world’s reserve currency, and a profound misunderstanding of the relationship between Bitcoin and gold. Timmer said the over 30 percent rally that Bitcoin has experienced this month had not been fueled by momentum traders, indicating…
Read MoreDay: October 13, 2021
Evergrande, Credit Spreads And Bitcoin
Greg Foss discusses, Evergrande, China’s high-yield market and his valuation model for bitcoin. Watch This Episode On YouTube Listen To This Episode: Apple Spotify Google Libsyn Overcast In this episode of Bitcoin Magazine’s “Fed Watch” podcast, Christian Keroles and I welcomed back Greg Foss to the show to discuss the new articles he’s written on Bitcoin Magazine about Evergrande from a professional in the high-yield credit space. We get to know Foss a little better in this one and discuss, not only the facts of the matter on Evergrande and…
Read MoreDefi and Algorithmic Stablecoin Demand Grows in 2021 Despite Large Centralized Competitors
On Wednesday, October 13, 2021, the market capitalization of all the stablecoins in existence is around $134 billion, which is 5.60% of the entire $2.4 trillion crypto economy. While centralized stablecoin projects dominate the pack of dollar-pegged tokens, a great number of decentralized stablecoins have been moving in on these centralized competitors. Algorithmic or defi-styled stablecoin market caps have accrued billions of dollars this past year. While Tether and USD Coin Eclipse the Market, Algorithmic Defi Stablecoins Still Shine Tether (USDT) is one of the oldest and the largest stablecoins…
Read MoreDiscussing Bitcoin FOMO: “Take The Time You Can”
In a fireside chat with podcaster Dennis Porter, he covered discussing Bitcoin with those who don’t get it yet. Watch This Episode On YouTube Listen To This Episode: Spotify Google The tenth episode of “Bitcoin Bottom Line” consisted of a fireside chat between host C.J. WIlson and Bitcoiner and podcaster Dennis Porter. The episode kicked off with Porter’s story of how he discovered mining, which led him to be so obsessed with mining bitcoin that his girlfriend had to pull him away and force him to take a break. Wilson…
Read MoreGeographic Distribution Data Shows US Takes Leading Bitcoin Mining Position After China’s Crackdown
After China has reigned for a number of consecutive years as the dominant bitcoin mining epicenter of the world, the United States has “taken the leading position in bitcoin mining,” according to new data from Cambridge University. Data Shows US, Kazakhstan, Russian Federation Rule the Bitcoin Mining Roost In mid-July, researchers from the Cambridge Bitcoin Electricity Consumption Index (CBECI) project published new data from the website’s “Bitcoin Mining Map,” which had not been updated since April 2020. In that specific report, CBECI researchers noted that China’s hashrate dominance was much…
Read MoreBitcoin Miner Stronghold Launches Nasdaq IPO
The company will list over 5 million shares of common stock on the Nasdaq at an IPO price of between $16 and $18. Bitcoin miner Stronghold announced today the launch of its initial public offering (IPO) of 5,882,352 Class A common stock shares. The anticipated IPO price will be between $16 and $18 per share under an S-1 Form filed with the U.S. SEC, which has not yet become effective. The company plans to list its shares on the Nasdaq Global Market under the ticker “SDIG.” Stronghold Digital Assets has…
Read MoreCardano Slips to 5th-Largest Crypto Market Position — ADA Down 30% Since All-Time High Last Month
During the second week of October, bitcoin market values have maintained prices between $54K to $57K. Meanwhile, myriad alternative crypto assets have not yet seen the gains the leading crypto asset has enjoyed during the last two weeks. For instance, cardano used to be the third-largest crypto market in terms of valuation, but after losing 4.8% cardano has slid down to the fifth position this past week. Cardano Drops from 3rd-Largest Crypto Market Cap to 5th-Largest The digital currency cardano (ADA) has seen some decent gains during the last 12…
Read MoreMiami Mayor Says Plan Advancing To Pay City Employees In Bitcoin
Miami will issue a request for proposal this month to help create the BTC payment mechanism. Miami Mayor Francis Suarez told Bloomberg that paying government employees in bitcoin is a “major priority” for the city. “I want us to differentiate ourselves as a crypto capital of the United States or of the world,” Suarez said in an interview. A similar proposal was first pushed in February but has since stalled. Miami’s top priority at the moment is enabling bitcoin as a payment option for government employee salaries and citizens’ taxes…
Read MoreThe Quest For Digital Cash
How Satoshi Nakamoto’s Bitcoin project married the concepts of digital cash and digital gold and how pioneering cryptographer Adam Back continues the work of making it a better tool for freedom. One summer day in August 2008, Adam Back got an email from Satoshi Nakamoto. It was the first time Nakamoto had reached out to anyone about a new project that the pseudonymous programmer or group of programmers called Bitcoin. The email described a blueprint for what a group of privacy advocates known as the cypherpunks considered the Holy Grail:…
Read MoreLargest Canadian Bitcoin ETF Opens to Mutual Fund Investors
Purpose Investments, an institutional firm with more than $12 billion under management, on Wednesday announced the launch of mutual fund units for the world’s first ETF backed and settled by Bitcoin. Purpose Investments, an institutional firm with more than $12 billion under management, on Wednesday announced the launch of mutual fund units for the world’s first ETF backed and settled by Bitcoin. “We’re happy to provide another easy and secure way for Canadian investors to gain exposure to Bitcoin,” said CEO and founder Som Seif. Mutual funds that allow investors…
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