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Bitcoin

Bitcoin is a new electronic payment system that removes the need for third party financial institutions. It speeds up transactions while reducing costs and minimizing the potential for fraud. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.

Bitcoin’s concept was first introduced in 2008 when a person going by the pseudonym Satoshi Nakamoto shared a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” In January 2009, the Bitcoin blockchain was launched. 

A new electronic payment system called Bitcoin removes the need for third-party financial institutions. It speeds up transactions while reducing costs and fraud-risk. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.   

Bitcoin has a finite supply of 21 million, which is expected to be reached by the year 2140. Currently, 18.8 million are circulating in the market. Note that Bitcoin represents the concept of the network, while bitcoin (lower-case ‘b’) represents the currency.

Bitcoin is one of the most well-known cryptos as it was the first decentralized currency. 

Currently, BTC’s dominance is above 40%. Bitcoin Dominance is a measure of how much of the total market cap of crypto is made up of Bitcoin. Bitcoin’s influence in the crypto ecosystem could be vulnerable to competition as alternative coins grow in popularity and utility.

Bitcoin's hashrate experienced an uptick this week, briefly surpassing 600 exahash per second (EH/s) and currently stabilizing at 598 EH/s. The hashprice, which represents the expected value of 1 petahash per second (PH/s) of hashing power per day, is about $57 per petahash.

Competitive Pressure Builds for Bitcoin Miners as Hashprice Swings

Many of Bitcoin's early adopters are now billionaires, among the wealthiest people in the world. But Satoshi Nakamoto's wealth could eclipse them all.

How Many Bitcoin Billionaires Are There?

Bitcoin miners help expand the use of renewable energy and balance energy networks, says Ryan Condron, co-founder of Lumerin.

Bitcoin Mining Stabilizes Power Grids Strained by AI Data Centers

The Biden administration recently re-introduced a proposed that would place a 30% tax on all “cryptocurrency miners” – a move that represents an ideological witch hunt against a rapidly growing industry (see my previous comments).

Biden's Proposed Nonsensical 30% Tax Would Kill Bitcoin Mining in the U.S.

A framework to analyze the nature and risk of different yield based products built on top of Bitcoin.

Can Bitcoin Be A Productive Asset?

Donald Trump says he wants all future bitcoin to be minted in the U.S.

Bitcoin miners at Donald Trump's closed-door event say he thinks bitcoin can help win AI arms race

Ethereum

Since the spot bitcoin and ethereum exchange-traded funds (ETFs) in Hong Kong began trading on April 30, they have accumulated $1.96 billion in bitcoin and $26.74 million in ethereum. Hong Kong's Spot Bitcoin and Ether ETFs See Modest Growth Hong Kong's spot bitcoin and ether ETFs have been active for 44 days since their launch.

Hong Kong Spot ETFs Secure $1.96B in Bitcoin, $26M in Ether

A macro analyst at the investment giant Fidelity thinks there needs to be a sustained spike in money supply to bolster the argument that Bitcoin (BTC) and gold are stores of value that hedge against government-induced inflation.

Fidelity Analyst Issues Warning, Says Massive Spike in Money Supply Needed for Bitcoin and Gold To Shine

The firm is already the single largest corporate holder of Bitcoin, with Bitcoin holdings that exceed 1% of the circulating supply of BTC.

MicroStrategy To Raise $500 Million Using Convertible Notes To Buy Bitcoin

MicroStrategy (NASDAQ:MSTR) on Thursday announced plans to issue $500 million in convertible senior notes due in 2032. What Happened: The proceeds from this offering will be used to acquire more Bitcoin (CRYPTO: BTC) and fund other corporate activities, the company stated.

MicroStrategy To Raise $500M To Boost Bitcoin Holdings

U.S. spot bitcoin exchange-traded funds (ETFs) experienced inflows on Wednesday, following two consecutive days of outflows. The 11 ETFs trading in the United States amassed $100.9 million, with Fidelity's FBTC leading the way. Fidelity's FBTC Tops Bitcoin ETF Inflows With $51M On Wednesday, spot bitcoin ETFs reversed their two-day outflow trend. The group secured $100.

US Spot Bitcoin ETFs Reverse Outflows With $100M Inflows

06/13 update below. This post was originally published on June 11

Leak Reveals Joe Biden Could Be Planning A Crypto Coup Amid Bitcoin, Ethereum And XRP Price Swings

Curve DAO Token

The latest price moves in bitcoin (BTC) and crypto markets in context for June 13, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin Holds $67K, CRV Slides

MicroStrategy plans to raise $500 million through a convertible senior notes offering, with proceeds going primarily toward acquiring more Bitcoin for its corporate treasury.

Michael Saylor's MicroStrategy To Raise $500M To Buy More Bitcoin

The firm, which already holds 214,400 BTC, also announced the redemption of $650 million of its 2025 convertible senior notes.

MicroStrategy proposes $500 million convertible note offering to acquire more bitcoin

A widely followed cryptocurrency analyst and trader believes that Bitcoin (BTC) could reach a six-figure price over the short to medium term.

Bitcoin Primed To Skyrocket by Over 45%, According to Crypto Trader – Here's the Timeline

Bitcoin (CRYPTO: BTC) has failed to break above its record highs hit earlier in March, with sharp corrections and sideways action becoming the order of the day. As of this writing, Bitcoin was exchanging hands at $67,530.53, nearly 8% off from its peak of $73,000, according to data from Benzinga Pro.

EXCLUSIVE: What Investors Need To Know About Bitcoin's Rangebound Behavior And Market Corrections — Experts Have Their Say

Microstrategy has announced its intention to offer $500 million of convertible senior notes due 2032 in a private offering, subject to market conditions. The company also expects to grant the initial purchasers an option to purchase up to an additional $75 million of the notes within a 13-day period from the issue date.

Microstrategy Proposes $500M Convertible Senior Notes Offering to Acquire Additional Bitcoin

Bitcoin spot ETFs on June 12 experienced a remarkable net inflow of $101 million, reflecting growing investor confidence and interest in the leading cryptocurrency. What Happened: This surge in inflows highlights a renewed optimism in the digital asset market, despite recent market pressures and ambiguous signals from the Federal Reserve.

Bitcoin Crosses $67,500 As Spot ETFs Record $101M Inflow

Biden Campaign Reportedly Exploring Bitcoin and Crypto Donations

Nasdaq-listed business intelligence firm and bitcoin holder MicroStrategy (MSTR) announced Thursday that it intends to offer $500 million aggregate principal amount of convertible senior notes due 2032, proceeds of which will be used to acquire additional bitcoin and on other corporate affairs.

MicroStrategy Proposes $500M Convertible Notes to Boost Bitcoin Stash

A 21Shares researcher says FDIC data about $517B in unrealized losses might "influence the Federal Reserve to cut rates soon."

Bitcoin Settles After Wild Inflation and Interest Rate Roller Coaster

The Electric Reliability Council of Texas' CEO said in Senate testimony that the state's grid capacity will need to double in the next decade to handle demand, while the Lieutenant Governor of Texas says more scrutiny is coming for this industry.

ERCOT CEO: Texas' Power Grid Needs Larger Increase Than Expected to Handle AI, Bitcoin Mining

ETF inflows resumed Wednesday as U.S. inflation came in lower-than-expected.

Stick With Bitcoin, Avoid Ether, 10x Research Says After Fed Predicts Just One Rate Cut For 2024

Analyst and trader Nicholas Merten is expressing bearish sentiment on Bitcoin (BTC) amid the flagship crypto asset's failure to rise above a key resistance level. In a new video, Merten tells his 509,000 YouTube subscribers that a correction for Bitcoin is imminent.

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