Search Results for: Environmental

Square Says It Has No Plans of Purchasing More Bitcoin After $20 Million Loss

Square has revealed that it has no plans of adding more Bitcoin to its balance sheet for the time being – after losing $20 million on its $220 million Bitcoin investment in the first quarter of 2021. Amrita Ahuja, the Chief Financial Officer at Square Inc., said that the California-based financial services and digital payment … Continue reading Square Says It Has No Plans of Purchasing More Bitcoin After $20 Million Loss

Bitcoin Is Still the Cryptocurrency to Own Despite Current Struggles, says SkyBridge Capital Founder

After hitting an all-time high above $64,500 in mid-April, Bitcoin (BTC) has been struggling to breach the $60k price level as corrections have been imminent. The leading cryptocurrency recently nosedived to lows of $46K as Tesla Inc. announced that the company would shun BTC transactions due to negative environmental factors.  Nevertheless, SkyBridge Capital founder Anthony … Continue reading Bitcoin Is Still the Cryptocurrency to Own Despite Current Struggles, says SkyBridge Capital Founder

Bitcoin Has Spent 3 Months Bouncing Between $45,000 and $60,000

Bitcoin’s upward momentum has dried up because it has spent three months bouncing between $45k and $60k, as alluded to by market analyst Lark Davis. BTC hit a new all-time high (ATH) above $64,500 in mid-April, but a correction to the $46-48k area has been imminent. This has been triggered by speculations that the American administration … Continue reading Bitcoin Has Spent 3 Months Bouncing Between $45,000 and $60,000

Did Elon Musk Inadvertently Promote Ripple (XRP) When He Dropped The Bitcoin Bomb?

Ever since Tesla CEO Elon Musk announced that the automaking company will be dropping Bitcoin payments, Bitcoin (BTC) has plunged dramatically on the crypto market, shedding more than $10,000 of its value. Currently, the cryptocurrency is trading at $43,307.17, down 10% in the last 24 hours. Last week, Musk announced via Twitter that Tesla was … Continue reading Did Elon Musk Inadvertently Promote Ripple (XRP) When He Dropped The Bitcoin Bomb?

Elon Musk Criticizes Bitcoin Mining for Being Highly Centralized in China, Hinting that Tesla May Dump Bitcoin

Elon Musk’s tweets have served to create headwind for Bitcoin, sending the cryptocurrency on a steep plunge. Recently, Musk implied that Tesla may sell off its Bitcoin holdings. He also slammed BTC mining operations, which are highly concentrated in China. Reuters reported on Monday that Musk raised concerns about Bitcoin’s mining operations while responding to a … Continue reading Elon Musk Criticizes Bitcoin Mining for Being Highly Centralized in China, Hinting that Tesla May Dump Bitcoin

Long-Term Bitcoin Holders are Accumulating Coins After Trimming Their Positions in the Early Bull Run

Bitcoin (BTC) price experienced another bumpy transaction date, leading the price of BTC to drop to the lows of $42k and gained some momentum back at $45,181 at the time of writing, according to CoinMarketCap. BTC was confronting headwinds triggered by Elon Musk’s tweets recently about Tesla abandoning BTC payments citing environmental concerns.  However, Bitcoin long-term investors considered … Continue reading Long-Term Bitcoin Holders are Accumulating Coins After Trimming Their Positions in the Early Bull Run

Tron's Justin Sun Acquires 4145 BTC for $152.8M

Justin Sun, the Tron (TRX) founder, revealed that he is holding the forte as the global cryptocurrency strives toward recovery after a week-long plunge. Sun revealed on Twitter that he had purchased as much as 4145 Bitcoins with $152,818,183 at an average price of $36,868. The market crash, caused by Tesla’s unprecedented U-turn on accepting … Continue reading Tron's Justin Sun Acquires 4145 BTC for $152.8M

Elon Musk: Lightning Network Needed to Fix Scalability Problem in Bitcoin Network

Elon Musk, the founder and CEO of Tesla Inc., sparked on Twitter Saturday, suggesting that the layer-2 payments Lightning Network are required for now to scale Bitcoin (BTC) transaction. The billionaire said that the Bitcoin network could meet increasing demand if its users adopted the Lightning Network, a payment that makes Bitcoins transactions cheaper and … Continue reading Elon Musk: Lightning Network Needed to Fix Scalability Problem in Bitcoin Network

Bitcoin Drops Down Nearly 50% from its Peak-Where is the Key Support Level?

The largest mainstream cryptocurrency Bitcoin continues another round of sell-off after a roller-coaster week trading. On Sunday, Bitcoin’s biggest drop reached to 18% and fell to the lowest  $31,111. This price was almost half of the $64,854 Bitcoin hit its All-Time High (ATH) on April 14 this year. Following a series of tweets last week by billionaire … Continue reading Bitcoin Drops Down Nearly 50% from its Peak-Where is the Key Support Level?

Number of Ethereum Whales on the Decline as Market Sees a Massive Correction

The ongoing market correction is stirring the attainment of new records in the crypto industry, albeit on the bearish side. Ethereum (ETH), the world’s second-largest digital currency by market capitalization, has seen its meteoric rise to a new all-time high (ATH) truncated with on-chain metrics spiraling downwards. According to Glassnode analytics, the number of Ethereum … Continue reading Number of Ethereum Whales on the Decline as Market Sees a Massive Correction

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