Bitcoin

In this issue Valkyrie: Riding high Sam Bankman-Fried: Time to lay low? Chinese NFTs: On display From the editor’s desk Dear Reader, One of the greatest gifts Bitcoin gave the world was its underlying technology: blockchain. It has birthed a financial revolution, channeled capital to parts of the globe that need it, and untethered the power to transact from the few to the many. And now, as we see, in Bitcoin’s strong start to 2023, those long-awaited beams of sunlight have come out to shine on… Source link

Tesla has revealed that its bitcoin holdings lost $204 million of value last year In a new regulatory filing, which was partially offset by gains of $64 million from converting the digital currency into fiat. Overall, it suggests the company’s bitcoin investment resulted in a net loss of $140 million throughout the course of 2022, TechCrunch reports. That’s a lot of money, but it’s small in comparison to Tesla’s initial bitcoin investment announced in February 2021, when it said it… Source link

Join the most important conversation in crypto and web3! Secure your seat today Despite a severe downturn, public blockchains continue to foster multiple revolutions; one of them is Bitcoin, says ARK Invest in its 2023 “Big Ideas” research report. That’s why the bitcoin (BTC) currency, in the eyes of ARK, is still predicted to close the decade at $1 million because its fundamentals are sound – despite a turbulent 2022. “Contagion caused by centralized counterparties has elevated Bitcoin’s… Source link

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their… Source link

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their… Source link

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their… Source link

Troubled U.S.-based Bitcoin mining firm Greenidge Generation Holdings Inc. has restructured more of its debt to investment management service provider NYDIG and investment bank B. Riley Commercial Capital, the company announced on Tuesday. See related article: U.S. crypto miner Core Scientific files for Chapter 11 bankruptcy, continues to mine Bitcoin Fast facts Nasdaq-listed Greenidge said it has reduced its debt to NYDIG by about 78% to US$17 million from US$76 million through various… Source link

Bitcoin prices broke back above US$23,000 in Wednesday morning trading in Asia. Ether and most other top 10 non-stablecoin cryptocurrencies also bounced back from yesterday’s losses amid strong gains in U.S. equities for January and optimism the U.S. economy is heading for a soft landing. Top memecoin Dogecoin led the pack, still gaining from reports on Monday that long-time advocate and Twitter Inc. boss Elon Musk is looking to bring payment systems to the social media platform. See… Source link

Tesla recorded a $204 million impairment loss in 2022 on its bitcoin holdings, according to regulatory filings. The loss was offset by $64 million in profits from bitcoin trading, leaving the automaker with a net loss of $140 million. Tesla had invested $1.5 billion in bitcoin during the first quarter of 2021, stating that it believed in the longevity of the cryptocurrency. At the time, the company said bitcoin was a great place to store cash and still access it… Source link

With a gain of 39.4% this month, Bitcoin is closing out its best month since a 40% rally in October 2021 and its best January since 2013. Currently changing hands at $22,910, bitcoin (BTC-USD) has been trading over the past week at its highest level since August of last year. The largest cryptocurrency hasn’t given holders such an uplifting January in a decade. “We started January off with some explosive price action the week of December’s CPI print,” said Christopher Newhouse, options… Source link