Why Finland is auctioning Bitcoin worth €75 million

Finland will donate "tens of millions" of euros earned through selling confiscated Bitcoin to Ukraine, the country's finance minister announced on Wednesday. Finland currently holds 1,981 Bitcoin worth nearly €75 million at current rates, which were seized by Customs officials during criminal investigations. "The government will donate tens of millions to help Ukraine thanks to … Continue reading Why Finland is auctioning Bitcoin worth €75 million

Central African Republic has declared Bitcoin an official currency

Photo by Asiama Junior on Pexels.com The Central African Republic has adopted Bitcoin as a legal currency, becoming only the second country to do so after El Salvador. Lawmakers from the central African country unanimously adopted a bill to make Bitcoin legal tender alongside its CFA franc and legalised the use of cryptocurrencies. President Faustin … Continue reading Central African Republic has declared Bitcoin an official currency

Is Bitcoin about to become a reserve currency?

Photo by David McBee on Pexels.com A crypto platform's pledge to amass $10 billion (€9.2 billion) worth of Bitcoin to back its own "stablecoin" is firing up the market. It's part of a wider movement to crown Bitcoin as the reserve currency of a new age. Seoul-based Terraform Labs has so far built up nearly … Continue reading Is Bitcoin about to become a reserve currency?

CRYPTOCURRENCIES: Bill Gates warns fans of Elon Musk to watch out for this

BILL Gates has issued a stark warning to fans of Elon Musk about the dangers posed by investing in cryptocurrencies. In an interview, the 66-year-old Microsoft founder said that the crypto market was a huge risk for anyone with less cash than Musk. That's just about everyone when you consider that the SpaceX and Tesla … Continue reading CRYPTOCURRENCIES: Bill Gates warns fans of Elon Musk to watch out for this

Why China banned Bitcoin mining

Despite a crackdown on Bitcoin in China last year, mining the largest cryptocurrency actually got much dirtier and emits around the same amount of CO2 annually as a country the size of Greece, a new study shows. The joint study, titled Revisiting Bitcoin's Carbon Footprint, showed that the share of renewable electricity sources that fuel … Continue reading Why China banned Bitcoin mining

Zuckerberg ‘kills’ dream of a Meta-backed cryptocurrency

A once-ambitious but now faltering Facebook-backed digital currency project known as Diem is dead, its assets sold to bank holding company Silvergate Capital. Photo by David McBee on Pexels.com Silvergate and the Diem Association announced the sale on Tuesday. Meta, which owns Facebook, did not have a comment. A Facebook spokesperson, however, pointed to tweets … Continue reading Zuckerberg ‘kills’ dream of a Meta-backed cryptocurrency

Will El Salvador heed IMF advice and remove Bitcoin as legal tender?

The International Monetary Fund (IMF) has urged El Salvador to reverse its decision to make Bitcoin legal tender. Photo by David McBee on Pexels.com In September, El Salvador became the first country to allow consumers to use the cryptocurrency in all transactions, alongside the US dollar. The decision led to large-scale protests over fears it … Continue reading Will El Salvador heed IMF advice and remove Bitcoin as legal tender?

Crypto creator wins $50bn lawsuit

Craig Wright, a computer scientist who claims to be the inventor of Bitcoin, prevailed in a civil trial verdict earlier this week against the family of a deceased business partner that claimed it was owed half of a cryptocurrency fortune worth tens of billions. Dr. Craig Wright arrives at the Federal Courthouse, Tuesday, Nov. 16, … Continue reading Crypto creator wins $50bn lawsuit

Value of crypto sharing name with Omicron soars 900%, outperforming Bitcoin

Cryptocurrencies such as Bitcoin and Ethereum and global markets were sent into a tailspin following the emergence of the fast-spreading Omicron COVID-19 variant. Photo by David McBee on Pexels.com But one relatively new crypto named Omicron has seen a massive spike. Bn Monday, the token OMIC surged by 945 per cent since Saturday to reach … Continue reading Value of crypto sharing name with Omicron soars 900%, outperforming Bitcoin

Global Bitcoin price drops amid fears of new Omicron variant

Bitcoin tumbled almost 8 per cent on Friday after the discovery of a new, potentially vaccine-resistant coronavirus variant now called Omicron by the World Health Organization (WHO). Photo by Anna Shvets on Pexels.com Bitcoin, the largest cryptocurrency, fell as much as 7.8 per cent to $54,377 (about €48,000), its lowest since October 12. It was … Continue reading Global Bitcoin price drops amid fears of new Omicron variant

Why Bitcoin and other cryptos are slumping after record highs

Bitcoin and other cryptocurrencies have fallen sharply after seeing record-highs just last week. Photo by David McBee on Pexels.com Bitcoin’s price plunged to $58,400 (€51,000) on Tuesday and hovered just under the $60,000 (€53,000) threshold on Wednesday as the crypto market is again becoming a sea of red. It marks a 12 per cent drop … Continue reading Why Bitcoin and other cryptos are slumping after record highs

Why Bitcoin and Ether prices are rising

The price of Bitcoin hit a new all time high on Tuesday to reach $68,025 (€58,000) and the second-biggest digital coin, Ether by Ethereum surged by over 1 per cent from the previous day to $4814.80 (€4,153). Photo by David McBee on Pexels.com Bitcoin rose over 3 per cent in the last 24 hours, according … Continue reading Why Bitcoin and Ether prices are rising