A push by El Salvador’s president to embrace bitcoin as the country’s legal tender is not seen as having much of an impact on the $663 billion bitcoin market, even if it does inspire other countries to do the same. Investors, analysts and economists were assessing the potential price ramifications Monday after President Nayib Bukele said Saturday he will submit a bill this week to recognize bitcoin as the Central American nation’s legal tender. So far, the market isn’t giving much… Source link

Investors are parking bitcoin in places like decentralized finance (DeFi) while excitement in trading ether continues to be elevated. Bitcoin (BTC) trading around $35,679 as of 21:00 UTC (4 p.m. ET). Losing 0.25% over the previous 24 hours. Bitcoin’s 24-hour range: $35,335-$36,742 (CoinDesk 20) Ether (ETH) trading around $2,736 as of 21:00 UTC (4 p.m. ET). In the green 2% over the previous 24 hours. Ether’s 24-hour range: $2,677-$2,840 (CoinDesk 20) Remember when bitcoin was at $59,506?

Text size Microstrategy owns 92,079 Bitcoins. Dreamstime.com Bitcoin’s recent weakness may have scared some companies away from acquiring more, but one company seems more bullish than ever. The business-software firm Microstrategy (ticker: MSTR) said on Monday that it will sell $400… Source link

The writer is associate professor at the Research Institute of Industrial Economics The value of bitcoin and other cryptocurrencies has multiplied in the last decade. Non-existent returns on fixed-income securities and the fear of future inflation when central banks let the money printing press run at full tilt have led investors to seek alternatives. Many have invested in cryptocurrencies. There is also a superstition that they will take over as an international means of… Source link

Solana logo Solana Leading Ethereum challenger Solana could be making a big play to become the preferred blockchain for decentralized applications, such as DeFi and NFT offerings, if rumors of a funding round that could reach $450 million, prove to be true. We’ve heard from a Solana representative who didn’t confirm the rumors, but certainly didn’t deny them either.  “This information wasn’t shared by our team, we’ve asked decrypt to redact but they have… Source link

Litecoin is one of the most trusted cryptocurrencies in the industry. The code is a like-for-like copy of Bitcoin, so there wasn’t any argument on that. However, trust doesn’t necessarily mean staying relevant. It is a fact that over the past couple of years, other Altcoins have taken the space and established their stake as a better form of investment. Cardano has risen 10 times in the chart. Chainlink and Polkadot are bringing more functionality and innovation to space, and various… Source link

Topline  Former President Donald Trump—who has a historically combative relationship with cryptocurrency—launched a harsh round of attacks against Bitcoin on Monday, calling it a “scam against the dollar” that U.S. regulators should take action to monitor.  WASHINGTON, DC – JANUARY 12: U.S. President Donald Trump speaks to reporters on the South Lawn of … [+] the White House before boarding Marine One on January 12, 2021 in Washington, DC. Following last week’s deadly… Source link

getty getty So here we are with bitcoin: The current bitcoin chart Credit: ADVFN As even the biggest skeptic will agree, charts are great for predicting the past, and for me this means the following for bitcoin: The tw-year bitcoin chart shows insitutional FOMO Credit: ADVFN Institution acceptance has been the cry of the bulls for a long time. Institutions, it is believed, will adopt in droves and drive bitcoin to the moon in a straight ballistic rise. … Source link

Topline After bitcoin’s massive crash last month, business analytics company MicroStrategy, the cryptocurrency’s biggest corporate owner, warned Monday it expects to incur a loss of at least $284.5 million in the second quarter as a result of its bitcoin holdings, but the staunch bitcoin bull—helmed by billionaire CEO Michael Saylor—also announced it’s looking to raise more debt to double-down on its volatile bitcoin investment. At one point worth more than $5 billion,… Source link

2021 saw Monero climb by over 250% on the charts in just over 4 months. That’s an extraordinary hike, one comparable to the hikes noted by the rest of the market’s alts. In fact, such was the scale of Monero’s performance between January and the first week of May that XMR climbed to a 3-year high too. At the time of writing, however, it was a different story altogether. On the back of the wider market’s corrections, XMR lost almost 60% of its value between 10-19 May. While the… Source link