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Last Notes

2024-06-28 08:02:34

Despite Fee Reduction, Bitcoin Network Faces Stubborn Transaction Backlog. Bitcoin transaction fees have stayed below $7 since Jun. 9, 2024, and have fallen under $3 in the last five days. Even with this decrease in fees, over 200,000 unconfirmed transactions have persisted in the backlog, as the queue has not come close to clearing since October 2023. Bitcoin’s Fee Market Struggles to Match Network’s Rising Demand. This week, transaction fees on the Bitcoin network have remained low, currently averaging 22.3 satoshis per virtual byte (sats/vB), or $2.67 per transaction. According to mempool. space on June 27, a high-priority transfer costs approximately 10 sats/vB, or about $0.86 per transaction. Fees have generally trended downward since April, although there was a brief increase in the fee market on June 7. https://yakihonne.s3.ap-east-1.amazonaws.com/6789a15735d4ac7cb13396ac59a0bdc813680111b9df4a7ff2497a364c869fb9/files/1719554454478-YAKIHONNES3.jpg

2024-06-28 07:49:47

BlackRock Global Allocation Fund Reveals Major Bitcoin ETF Stake With 43,000 Shares. In a recent filing with the US Securities and Exchange Commission (SEC), the BlackRock Global Allocation Fund disclosed its ownership of 43,000 shares of the asset manager’s Bitcoin ETF, iShares Bitcoin Trust, as of April 30. This announcement follows two previous filings by BlackRock on May 28, which disclosed the fund’s exposure to Bitcoin in its Strategic Global Bond Fund and Strategic Income Opportunities Portfolio
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2024-06-28 07:40:51

Bitcoin 'wholecoiners' hold above 1 million mark for 13 months. The number of Bitcoin wholecoiners tends to rise and fall with the crypto market’s ebbs and flows, but it has stayed above 1 million for over a year now. The number of Bitcoin ‘wholecoiners’ — a name given to addresses holding one or more BTC — has stayed above 1 million for the last 13 months.The one million “wholecoiner” milestone was first reached on May 13, 2023, when Bitcoin was trading for just $27,000, according to data from Glassnode. This number of wholecoiner wallet addresses reached an all-time high on Jan. 1 this year, with just over 1,024,000 wallets holding one or more Bitcoin, according to Glassnode. Today, despite Bitcoin’s price rocketing to double that in May 2023, the number of wallet addresses holding one Bitcoin or more stands at 1,010,800.
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2024-06-26 12:58:02

Nubank brings Bitcoin Lightning to its 100M Latin American customers. Lightspark will also integrate the Universal Money Address standard for Nubank, which gives an email-like address for users to send and receive money. Brazilian neobank Nubank has partnered with the payment platform Lightspark to offer the Bitcoin Lightning Network to its 100 million customers in Latin America. Lightspark said on June 25 that it is working with Nubank to start the Lightning “integration, mapping, and building potential products” and would have “more to share in the future.” Lightspark will also integrate the Universal Money Address standard, a payment system built on top of Lightning that gives users an email-like address to transfer money.Nubank Cripto’s executive director, Thomaz Fortes, said in a statement that the integration is part of the neobank’s plan to offer higher-speed, low-cost transfers via blockchain.https://yakihonne.s3.ap-east-1.amazonaws.com/6789a15735d4ac7cb13396ac59a0bdc813680111b9df4a7ff2497a364c869fb9/files/1719399385868-YAKIHONNES3.webp

2024-06-22 14:20:05

Digital Scarcity — Billionaire Michael Dell and Michael Saylor Exchange Dialogue on Bitcoin. This week, Michael Dell’s posts about bitcoin sparked a lively discussion among cryptocurrency enthusiasts. Since its establishment in 1984 by Michael Dell, the company has risen to become one of the largest personal computer vendors globally. On Thursday, Dell took to X, stating “Scarcity creates value,” to which Michael Saylor responded, “Bitcoin is Digital Scarcity.”Following Saylor’s comment, Dell re-shared the statement, amplifying the Microstrategy founder’s view on his X timeline. Subsequently, Dell also shared an image of the Cookie Monster from Sesame Street humorously depicted as consuming bitcoins, adding, “This is a great account to follow @MeCookieMonster. Very entertaining,” on his X post.
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2024-06-22 03:25:52

German Government’s Bitcoin Dump Surpasses $195M As Selling Spree Persists. The German government has recently begun selling millions of dollars worth of Bitcoin (BTC) from a confiscated wallet, further contributing to the lack of catalysts for a price recovery in the cryptocurrency market. The move comes as increased selling activity and unprecedented selling by long-term BTC whales have led to a sharp price correction, preventing Bitcoin from consolidating above $70,000 and retesting its previous all-time high. According to blockchain analysis platform Arkham, the German government has initiated the process of selling Bitcoin on cryptocurrency exchanges. During Thursday’s morning trading session, $65 million worth of BTC was sent to two likely exchange deposits, including Coinbase.
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2024-06-19 18:32:45

US Bitcoin ETFs See Fourth Day of Outflows, Totaling $152M. Another day of trading brought losses for spot bitcoin ETFs, with $152.42 million withdrawn on Tuesday according to data collected by sosovalue.xyz. Fidelity’s FBTC faced the largest outflow, shedding $83 million. The Fidelity Wise Origin Bitcoin fund (FBTC) now holds 170,151.83 BTC, valued at $11 billion in assets under management (AUM).Grayscale’s Bitcoin Trust (GBTC) followed with a $62 million reduction. GBTC’s AUM stands at around 280,321.81 BTC, worth $18.22 billion as of Wednesday. Additionally, Bitwise’s BITB saw a $7 million outflow during Tuesday’s sessions. These three funds were the only ones to record losses, while the others experienced neutral trading sessions with no inflows or outflows.
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2024-06-19 13:42:17

Is Germany selling its BTC? Arkham-tagged wallet sparks curiosity. The German government-labeled wallet held 50,000 BTC since February and moved out 6,500 BTC on June 19. A crypto wallet labeled “German Government (BKA)” by the crypto onchain analytics firm Arkham started moving Bitcoin on June 19, sparking curiosity among the community. The wallet movements have led many to believe the German government is selling its BTC holdings. German government seized BTC from pirated movie platformAccording to Arkham data, the crypto wallet has held nearly 50,000 Bitcoin since February 2024, before moving nearly 6,500 BTC on June 19. The funds are believed to have been seized from the pirated movie website operator Movie2k.
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[source](Arkham)

2024-06-19 13:27:41

Bitmain's New S21 Bitcoin Mining Rigs Debut With up to 473 TH/s of Hashpower. Bitmain’s new Antminer S21 series mining rigs outperform market rivals in joules per terahash (J/T) efficiency. The first model, the S21 XP air-cooled unit, delivers 270 terahash per second (TH/s) with an efficiency rating of 13.5 J/T. As of now, with the hashprice at $0.0524 per TH/s per day, the S21 XP is projected to generate $10.84 in daily profits, assuming electricity costs $0.04 per kilowatt hour (kWh).Alongside the new air-cooled Antminer, Bitmain also unveiled the S21 XP Hydro ASIC mining rig. This hydro-cooled model offers a significantly higher hashrate and superior efficiency in joules per terahash. The Antminer S21 XP Hydro achieves an estimated 473 TH/s with an efficiency rating of 12.7 J/T. Given the current hashprice and $0.04 per kWh in operational costs, this machine is estimated to earn $21.48 per day.
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2024-06-18 22:06:42

The Bitcoin network has moved up a spot in the all-time non-fungible token (NFT) sales rankings, surpassing the Ronin blockchain, which previously held the third-highest record for all-time NFT sales. On June 18, NFT data tracker CryptoSlam showed that Bitcoin-based NFTs recorded an all-time sales volume of $4,271,928,280. This surpasses the Ronin blockchain’s record of $4,271,675,550, moving Bitcoin to the top three leading blockchain networks for NFT sales, after Solana and Ethereum. In the last 30 days, Bitcoin-based NFTs recorded a sales volume of $148 million. This puts them in the top two spots for the month, following Ethereum, which had a volume of $157 million. Solana followed closely with around $77 million.Despite the millions in sales recorded, NFTs experienced a downturn in volume, with the top three chains showing at least a 40% decline in 30-day sales, according to CryptoSlam.
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2024-06-18 21:58:29

Hashdex files with SEC for combined spot Bitcoin and Ether ETF. If approved, the crypto ETF would be the first of its kind, but probably not the last.Hashdex has proposed in a June 18 filing with the United States Securities and Exchange Commission (SEC) to create a combined spot Bitcoin (BTC) and Ether (ETH) exchange-traded fund (ETF) on the Nasdaq exchange. The proposed ETF would balance the crypto assets according to their market capitalizations, cited as 70.54% Bitcoin and 29.46% Ether on May 27. Its passive investment strategy would track the daily market movement on the Nasdaq Crypto US Settlement Price Index without trying to “beat” it.
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2024-06-18 10:32:28

Bitcoin Runes racks up over 2,500 BTC in fees under 2 monthsRunes-related transactions could extend a significant revenue boost for Bitcoin miners after the 2024 halving. Bitcoin Runes have amassed over 2,500 Bitcoin (BTC) worth of transaction fees in less than two months, signaling the growth of Bitcoin-native decentralized finance (DeFi).Runes, a new protocol for issuing fungible tokens on the Bitcoin network, has generated 2,513 Bitcoin BTCtickers down$65,650 in total fees since launch, worth over $163 million, according to Dune data.
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*Bitcoin runes total fees. source- Dune*

2024-06-17 13:19:50

Bitcoin Price Faces Pressure as Mt. Gox Begins $9.4B Repayment. Bitcoin (BTC), the world’s leading cryptocurrency has come under intense scrutiny as Mt.Gox commences a $9.4 billion repayment to investors. According to reports, 137,890 BTC coins were moved out of wallets belonging to Mt.Gox to creditors.The movement of the large amount of BTC raises concerns about a potential sell-off that could drive down the price of Bitcoin. As a reminder, Mt.Gox was one of the largest Bitcoin exchanges before it was hacked in 2014. Following reports from Crypto News Flash, the exchange processed 70% of all Bitcoin transactions worldwide at the time. Following the hack, it reported 840,000 BTC in stolen funds.
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2024-06-17 13:12:40

US spot Bitcoin ETFs saw $581 million in weekly outflows amid 'more hawkish-than-expected' FOMC meeting: CoinSharesU.S. spot Bitcoin BTC -0.98% exchange-traded funds witnessed a combined $580.6 million in net outflows last week for the first time in five weeks. Grayscale’s converted GBTC ETF led the outflows with $274.3 million exiting the higher-fee fund, followed by Ark Invest’s ARKB and Fidelity’s FBTC, which registered $149.7 million and $146.3 million in net outflows, respectively.BlackRock’s IBIT was the only fund to generate net inflows last week, attracting $41.6 million, while the remaining U.S. spot Bitcoin ETFs witnessed net outflows of zero flows for the week. Total net inflows into the ETFs since trading began in January now stand at $15.1 billion.
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2024-06-16 20:17:43

Bernstein Analysts Revise Bitcoin Target, $200,000 And $1 Million Become Main Focus. Bernstein analysts Gautam Chhugani and Mahika Sapra recently revised their price targets for Bitcoin in their latest market report, which also initiated coverage on MicroStrategy. These analysts also outlined factors that they believe could contribute to BTC’s exponential price surge. Chhugani and Sapra predicted in the report that BTC will rise to a cycle high of $200,000 by 2025 and that the flagship crypto will reach $1 million by 2033. Bernstein had previously predicted that Bitcoin would reach $150,000 by 2025. However, these analysts have now revised their targets and alluded to the institutional demand for BTC as one of the reasons they believe the flagship crypto can reach such heights.
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2024-06-14 21:53:54

Bitcoin Could Hit $1M Within 10 Years, Bernstein Says as It Initiates Coverage of MicroStrategyThe broker assigned the software company an outperform rating and a $2,890 price target.The price of bitcoin (BTC) is likely to hit $1 million by 2033 and reach a cycle-high of $200,000 by 2025, Bernstein said as it initiated coverage of software developer MicroStrategy, the biggest corporate owner of the largest cryptocurrency, with an outperform rating.MicroStrategy now owns 1.1% of the global supply of the world’s largest cryptocurrency, worth about $14.5 billion, having transformed itself from a small software company in the space of four years, the broker said in a research report on Thursday.
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2024-06-14 21:44:33

Drake on Brink of $1M Bitcoin Loss as NHL and NBA Bets SourA series of unfortunate sports losses have left Drake very close to losing $1 million worth of bitcoin bets. Canadian singer Drake is on the cusp of losing $1 million worth of crypto after he placed two individual $500,000 bets on the Edmonton Oilers and the Dallas Mavericks to win their respective Stanley Cup and NBA finals.The Oilers lost their third straight game against the Florida Panthers in the hockey championship on Thursday whilst the Mavericks are down 3-0 in the basketball tournament after losing in consecutive games against the Boston Celtics. Both contests are best-of-seven series.Drake indicated on June 6 that he had placed the bets on crypto casino Stake using bitcoin (BTC) by posting the betting slips on Instagram, accompanied by a message: "Dallas cause I'm a Texan. Oilers are self explanatory. Picks in are @stake."
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2024-06-13 10:48:33

Bitcoin whales scoop up $1.4B in 24 hours amid market correctionThe huge and sudden uptick in Bitcoin whale accumulation came as Bitcoin supply on exchanges fell to its lowest level since December 2021. Bitcoin whales took full advantage of the Bitcoin price slump on June 11, accumulating a combined 20,600 BTC worth $1.38 billion.According to blockchain analytics firm CryptoQuant, it was the largest inflow day for Bitcoin whales since Feb. 28, when spot Bitcoin BTCtickers down$67,556 exchange-traded funds (ETFs) were barely six weeks old and BTC approached a new all-time high.Inflows into Bitcoin whale accounts hovered between 1,300 and 2,200 Bitcoin per day as Bitcoin fell from $71,650 on June 7 to around $69,000. The price plummeted again days later, leading to a massive day with 20,600 Bitcoin flowing into whale accumulation addresses on June 11.
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2024-06-12 11:02:32

Bitcoin Runes outperforms BRC-20 in onchain activity. Since April 2024, Runes have led Bitcoin network activity, outpacing both Ordinals and BRC-20 in transaction share. While Bitcoin takes up the lion’s share of its blockchain network most days, a clear winner has emerged from the bandwidth war between the Bitcoin standards — Ordinals, BRC-20 and Runes.Onchain activity is a good indicator of real-time market demand and overall community interest. Since its launch on April 20, Runes, a standard for creating fungible tokens on Bitcoin (BTC), has dethroned the long-standing Ordinals and BRC-20 standards in terms of transaction share.
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*Share of transactions of different Bitcoin standards. Source: Dune Analytics*

2024-06-12 10:52:22

Former Coinbase Business Developer: 'There Wasn’t a Long-Term Case for Bitcoin Payments'. Former Coinbase Executive Explains How the Bitcoin Payments Use Case Languished. Nick Tomaino, former business developer and marketing lead at Coinbase between 2013 and 2016, explained how the bitcoin payments use case languished even when the exchange rode on the premise to raise funds in its early stages.Reacting to a post where the use of bitcoin and the Lighting Network, bitcoin’s expansion layer, is criticized due to its terrible user experience for small settlements, Tomaino revealed that Coinbase had already learned this when he was still employed at the company, circa 2014.
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2024-06-12 10:48:01

Trump wants Bitcoin ‘made in the USA’ after hosting mining industry headsThe presidential candidate showed his support for the crypto mining industry after executives pitched him on how they could strengthen the electrical grid and create new jobs.Donald Trump reiterated his support for the Bitcoin mining industry on Wednesday after hosting a meeting with several executives from United States crypto mining firms.In a June 11 post on the Trump-owned Truth Social, the presidential candidate said he wanted “all the remaining Bitcoin to be MADE IN THE USA!!! [sic]” and claimed it would help the country be “energy dominant.”He claimed Bitcoin BTCtickers down$67,370 was the country’s “last line of defense” against a central bank digital currency. Federal Reserve Chair Jerome Powell said in March the U.S. was “nowhere near recommending or let alone adopting a central bank digital currency in any form.”
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2024-06-11 22:06:47

Donald Trump Jr. Advocates for Father as Leading Bitcoin Proponent.
The eldest child of former U.S. President Donald Trump and his first wife Ivana Trump, Donald Trump Jr. made a comment about bitcoin on Tuesday and shared an opinion editorial that was published by Bitcoin Magazine. The American businessman stated “Trump is the best choice for bitcoin,” in all capital letters while sharing the headline of the op-ed.In the opinion editorial, former President Donald Trump is lauded by author Brian Morgenstern as a staunch defender of bitcoin, showcasing his commitment to ward off regulatory threats to cryptocurrencies. During a speech at the Libertarian National Convention, Trump denounced the current administration’s restrictive policies on crypto and pledged to safeguard bitcoin owners’ rights to self-custody and block the creation of a central bank digital currency (CBDC).
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2024-06-11 10:32:28

Russia Set to Recognize Bitcoin Mining as Economic Activity. According to Osman Kabaloev, the Deputy Director of the Financial Policy Department at Russia’s Ministry of Finance, the recognition of Bitcoin mining as an official economic activity is set to happen soon. Following the approval of a law regulating cryptocurrency mining, this activity would be assigned an OKVED code, which classifies company activities for licensing purposes.According to local sources, the Russian government is set to recognize bitcoin mining as an economic activity soon. Osman Kabaloev, deputy director at the Ministry of Finance’s financial policy department of Russia, stated that the ministry supported this decision and was prepared to assign an OKVED code to the mining activity. An OKVED code is assigned to companies depending on their specific economic activities and helps businesses get licenses from the state pertinent to that activity if required.
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2024-06-10 15:48:30

Rapid Fluctuations in Bitcoin Fees Cause Brief Spike in Hashprice. Bitcoin miners experienced a brief period of significantly higher values for the computational power they contribute to the Bitcoin network. The hashprice, indicating the daily expected value of 1 PH/s, peaked at $95 on June 8. However, by 2 a.m. EDT on June 9, the hashprice had decreased to $62 per petahash. Bitcoin.com News reported on the increasing fees on June 7, as an analyst attributed the rise to the crypto exchange Okx consolidating numerous transfers.
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2024-06-10 15:40:06

Bitcoin ETFs sucked up 2 months of BTC mining supply in first week of JuneIn the first full trading week of June, U.S. Bitcoin ETFs acquired almost as much Bitcoin as they did in the entire month of May. Spot Bitcoin exchange-traded funds (ETFs) in the United States acquired the equivalent of around two months’ worth of the cryptocurrency’s mining supply in the first week of June. With inflows of approximately $1.83 billion, the 11 ETFs bought 25,729 Bitcoin BTCtickers down$69,331 in the trading week between June 3 and 7 — around eight times more than the 3,150 new BTC mined over the same time, according to data from HODL15Capital.The amount of Bitcoin acquired in the week alone was almost as much as the entire of May, 29,592 BTC, per HODL15Capital’s count, and is the biggest week of buying since mid-March when Bitcoin hit its current all-time high of $73,679.
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2024-06-10 15:26:21

Trump Campaign Crypto Aide Announces Presidential Roundtable on Domestic Bitcoin Mining. Bitcoin is becoming an active part of the U.S. campaign of all candidates in the presidential dispute. David Bailey, CEO of Bitcoin Magazine and cryptocurrency aide of the Trump campaign, recently announced that Trump would participate in a future bitcoin mining event, which he called a “Presidential Roundtable on domestic bitcoin mining.”Bailey referred to the upcoming event as “history in the making” and explained that it would feature titans of the mining industry meeting with the “next president of the United States.” Nonetheless, Bailey failed to disclose which companies or individual miners are interested in being part of this future encounter.
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2024-06-09 16:15:35

Nigeria records N6.52 trn trade surplus in Q1’24Nigeria recorded a trade surplus of N6.52 trillion in the first quarter of 2024 (Q1’24). This represents a 79 percent quarter-on-quarter (QoQ) increase when compared to N3.64 trillion recorded in the fourth quarter of 2023 (Q4’23). The National Bureau of Statistics, NBS, disclosed this today in its Foreign Trade in Goods Statistics report for Q1’24.
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2024-06-09 15:51:25

Bitcoin Premium in South Korea Increases, Reflecting Strong Local DemandSouth Korea’s Bitcoin Premium Rebounds After Hitting Recent LowRecently, bitcoin (BTC) saw its infamous premium in South Korea drop below 1% after nearly hitting 10% in mid-April. Current data indicates that the premium in the country is rebounding. Metrics from cryptoquant.com reveal that after hitting a low of 0.62% on June 4, when global prices were almost identical, the premium climbed to 3.42% by June 6.Archived data from coinmarketcap.com on June 9, shows BTC traded globally at $69,288 per unit, while on Upbit it was priced 2.658% higher at $71,130 per BTC. Similar premiums are observed on Bithumb, Coinone, and Korbit. Ethereum (ETH) also shows a premium of 2.69%, with prices at $3,679 globally and $3,778 on Upbit and other platforms.
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2024-06-09 15:34:58

Bitname Introduces the First Full-Scale Name Service for the Bitcoin Ecosystem. Bitname, the first name service provider encompassing the entire Bitcoin ecosystem, is introducing a new protocol standard, SRC101, for Bitcoin Stamps. It allows permanent storage of domain assets on Bitcoin and supports the interconversion and resolution of all Bitcoin address types. It also supports Bitcoin Layer2 and sidechain address linking through unique features. It prioritizes the unification of native Bitcoin domain assets across different protocols, representing a step towards integrating the entire Bitcoin ecosystem.
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2024-06-08 17:43:56

Bitcoin network transaction fees temporarily soar to nearly $52The network is currently experiencing temporary congestion due to over 300,000 unconfirmed transactions waiting to be processed on Friday morning.
The Bitcoin network is currently experiencing a sharp increase in network fees driven by 332,000 unconfirmed transactions as of 12:05 pm Eastern Time on June 7.Network fees at the time hit 514 sats for high-priority transactions and 513 sats for low-priority transactions, with prices climbing to around 520 sats per transaction earlier in the day. In United States dollars, this represents $50–$52 in fees per transaction. Priority fees have since dropped to around $46 per transaction.
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*A snapshot of the high network fees on Friday morning. Source: Bitcoin Mempool block explorer*

2024-06-08 17:36:23

Miners continue reporting declines in Bitcoin production following halvingStronghold Digital Mining reported a 47.1% decline in its monthly Bitcoin mining output in May.
The firm mined 82 BTC during the first full month following the halving, compared to 155 BTC in April.Meanwhile, revenues for the month came in at $5.2 million, a 46% drop from the previous month.Stronghold explicitly attributed the drop to the halving. The firm said:“The primary driver of the decline was due to the first full month of post-halving operations.”The company also reported an average hash price of $0.052 per TH/s in May, down from 0.095 in April. It attributed the change to the halving and reduced block rewards, a 0.8% decline in Bitcoin’s price, and transaction fees falling to 7.4% in May from 25.3% in April.It observed a network hash rate of 1.2%, partially offsetting the trend.
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2024-06-08 17:31:43

Claims Against Collapsed South African Bitcoin Investment Firm Rise to $84.5 MillionClaims against Mirror Trading International (MTI) have reached over $84.5 million (ZAR1.6 billion), with more than 8,000 proven creditors as of the end of April. The MTI estate still holds around $33.7 million in its accounts. Legal action is underway in multiple countries to recover withdrawals made by those who profited from the scheme. MTI was the largest pyramid scheme ever operated in South Africa. Launched in 2019, MTI promised average monthly returns of 10% and allowed members to earn bonuses by recruiting others.In April 2023, the Western Cape High Court declared MTI a pyramid and Ponzi-type scheme. MTI attracted scammers and victims worldwide, with withdrawals documented in various countries. Liquidators are reportedly pursuing those who withdrew bitcoin from the scheme, issuing summonses and letters of demand.
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2024-06-08 17:24:42

Semler Scientific now holds 828 Bitcoin and has $150M plan to buy moreThe medical manufacturer now holds 828 BTC and says it will “continue to pursue our strategy of purchasing Bitcoins with cash.”Nasdaq-listed medical manufacturer Semler Scientific — which made headlines last month for adding Bitcoin (BTC) to its treasury — has bought another $17 million worth of the asset and may raise up to $150 million to buy more.The firm’s latest Bitcoin purchase was revealed in an S-3 filing to the United States securities regulator on June 6. After making its first 581 Bitcoin purchase on May 28, it now holds 828 Bitcoin, worth over $58.5 million."[It underscores] our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash. https://yakihonne.s3.ap-east-1.amazonaws.com/6789a15735d4ac7cb13396ac59a0bdc813680111b9df4a7ff2497a364c869fb9/files/1717860266067-YAKIHONNES3.webp

2024-06-08 17:19:39

BTC price dips 1.8% as Bitcoin tackles ‘schizophrenic’ new US jobs dataBitcoin resistance shifts higher as a snap reaction to unusual U.S. employment data delivers classic BTC price volatility.Data from Cointelegraph Markets Pro and TradingView showed a $1,300 BTC price dip within a single hourly candle before a rebound entered.Bitcoin joined a knee-jerk reaction to U.S. nonfarm payrolls data, which vastly beat expectations to suggest that the labor market was coping with tight fiscal policy better than forecast.This, in turn, pushed back the odds of the Federal Reserve lowering interest rates — a key prerequisite for a liquidity influx into risk assets and crypto.“It does close the door on July rate cut,” economist Mohamed El-Erian responded, quoted by Bloomberg.
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2024-06-08 17:06:57

Craig Wright Should Pay Plaintiffs' Legal Bill After Found Posing as Satoshi, COPA Says
The COPA vs Craig Wright trial made a resurgence on Friday to determine what costs and penalties Wright might suffer.
The Crypto Open Patent Alliance's (COPA) legal representatives on Friday asked Judge James Mellor to grant that Craig Wright pay 85% of the costs the group incurred in the legal proceedings.COPA took Wright to a U.K. court in February to find out, once and for all, if he was the pseudonymous creator of bitcoin, Satoshi Nakamoto, after Wright had taken members of the crypto community to court over the years under the premise that he was Nakamoto. The English court ruled in COPA's favor in March that Wright was not the creator of bitcoin and that he did not author the bitcoin whitepaper.
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2024-06-07 13:00:54

Netanyahu to address Congress on July 24Israeli Prime Minister Benjamin Netanyahu will address Congress on July 24, a person familiar with the plans, granted anonymity to discuss the matter, confirmed to POLITICO.The speech comes after the four top congressional leaders — Speaker Mike Johnson, Senate Majority Leader Chuck Schumer (D-N.Y.), Senate Minority Leader Mitch McConnell (R-Ky.) and House Minority Leader Hakeem Jeffries (D-N.Y.) — formally issued the long-awaited invite late last month.Locking down the July 24 date caps off weeks of behind-the-scenes talks on Capitol Hill, where the exact date had remained in flux even after leadership formally issued the invitation to Netanyahu last week. They initially looked at June 13 but that conflicted with a Jewish holiday and Johnson’s office stressed at the time that the date was not finalized and still being negotiated.
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2024-06-07 12:41:34

Bitcoin SV’s Twetch considers open-sourcing after shutdownWeb3 social media platform Twetch, a competitor of X running on the Bitcoin SV blockchain, shut down operations on June 6.
The social media platform Twetch —a Web3 competitor to X that operates on the Bitcoin SV (BSV) blockchain — unexpectedly shut down on June 6 without prior notice.Shortly thereafter, several crypto investors found themselves unable to redeem or cash out their nonfungible tokens (NFTs) and virtual collections. In response to one investor, the company stated: “We are working on it.”Twetch's website did not explain the reasons for its eventual shutdown.
However, as of this writing, users could still download the Twetch mobile application from the Apple and Google app stores.
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[source](twetch website)

2024-06-07 12:27:36

Rushing OP_CAT on Bitcoin could come at an immense security costOperation Concatenate (OP_CAT) could be a game-changer for Bitcoin.
But if its security risks are not diligently addressed, it could also undermine Bitcoin.There has been a storm of recent support for reenabling Bitcoin’s BTCtickers down$71,300 Operation Concatenate (OP_CAT), a code that Satoshi Nakamoto introduced in the original Bitcoin script that allows Bitcoin users to combine two data sets into a single transaction script.
Potential security concerns from overly large stack elements led Nakamoto to disable the code in 2010. Reintroducing OP_CAT could facilitate asset tokenization, building on the initial success of Ordinals. The proposed opcode addition would streamline manipulating asset metadata and advanced data structures within transaction scripts. However, rushing its implementation could topple Bitcoin’s reign as the most secure blockchain.
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2024-06-06 15:55:12

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Vietnamese investors are showing an increasing interest in gold. According to local reports, long lines of people interested in acquiring gold bullion were observed in different branches of banks in Hanoi and Ho Chi Minh. The investors, counted in the dozens, were hoping to take advantage of the direct sale of gold from four state banks in Vietnam, including the Saigon Jewelry Company (SJC), Agribank, Vietcombank, BIDV, and Vietinbank.The gold rush ensued as the central bank announced that it would sell gold directly to these banks to offer it to the general public. This move is expected to lower domestic gold prices that recently reached historic highs compared to foreign market prices. Prices for a tael (37.5g) of gold reached $3,620 last month in Vietnam, and since then, prices have come down to $3,107, with banks allowed to sell each tael with a 1.2% discount over market prices.

2024-06-06 15:49:09

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Bitcoin (BTC) miner Bitdeer has agreed to acquire Desiweminer, a designer of chips for ASIC mining machines, in an all-stock transaction worth $140 million.Bitdeer agreed to acquire all outstanding shares in Desiweminer for a consideration of 20 million Class A ordinary BTDR shares on June 3, according to an announcement on Thursday.The acquisition is subject to customary closing conditions.The Desiweminer team will join Bitdeer’s ASIC design team in Singapore, and products featuring the integrated technologies of the two entities are slated for immediate release.

2024-06-06 15:43:30

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Hyperscalers and artificial intelligence (AI) firms are exploring different alternatives to securing their energy needs, and this may make bitcoin (BTC) mining companies with attractive power contracts appealing acquisition targets, JPMorgan (JPM) said in a research report on Wednesday.A hyperscaler is a large-scale data center specializing in delivering huge amounts of computing power.Mergers and acquisitions are heating up in the mining sector, after the halving. On Tuesday, shares of Core Scientific (CORZ) surged higher after cloud computing firm CoreWeave signed a 200 megawatts (MW) artificial intelligence deal with the bitcoin miner, and was also reported to have made an offer to buy the company in an all-cash deal. Meanwhile, another large bitcoin miner, Riot Platforms (RIOT), made a hostile offer to buy out peer Bitfarms (BITF) last month.

2024-06-06 15:34:43

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Sam Means is bringing the DIY spirit of punk rock to Bitcoin.Means, co-founder of Wavlake, a music streaming platform that employs both Bitcoin’s Lightning Network and Nostr, has been innovating in the music industry since the early 2000s. From promoting local shows to helping manage his own band as it toured the world to running a major artist merchandise business, Means has put in the work and learned more than a handful of lessons along the way.Now, he’s taken those lessons and combined them with what he’s learned from his ten years of experience in the Bitcoin space to help create Wavlake, a music streaming platform that cuts out the middleman, allowing fans to stream sats to directly to their favorite musicians. Wavlake is a counter to Spotify, well-known for hardly paying many of the artists featured on its platform.

2024-06-06 15:30:06

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Renowned personal finance author Robert Kiyosaki has predicted Bitcoin will reach $350,000 by August 25, 2024. The Rich Dad, Poor Dad writer has long been a Bitcoin bull, touting Bitcoin as hard money alternatives.In a recent X post, Kiyosaki projected Bitcoin to hit $350,000 based on his lack of faith in U.S. leadership. He labelled President Biden, Treasury Secretary Janet Yellen, and Fed Chair Jerome Powell as "the 3 Stooges in real life" and said he was confident in their incompetence.Kiyosaki advised buying more Bitcoin to protect against poor economic stewardship. He has frequently criticized the U.S. government's stimulus spending and money-printing policies under Biden.

2024-06-06 15:27:06

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Robinhood has agreed to acquire leading Bitcoin and crypto exchange Bitstamp for $200 million in cash, marking a major expansion of its Bitcoin and crypto business. The deal is expected to close in the first half of 2025.Founded in 2011, Bitstamp is one of the world's oldest and most established crypto exchanges. It operates across Europe, Asia and the U.S., with over 50 licenses globally. The acquisition will bring Bitstamp's institutional and retail customers under Robinhood's umbrella.Robinhood aims to leverage Bitstamp's reputation for resilience and trust to bolster its own Bitcoin and crypto offerings. Bitstamp underwent over a decade of market cycles and maintained high-security standards.

2024-06-06 14:39:32

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The Peoples Democratic Party (PDP), has denied speculations that it was engaged in merger talks with other political parties ahead of the 2027 general election.National Publicity Secretary of the Party, Hon. Debo Ologunagba issued the disclaimer in a statement, in Abuja, yesterday.He said, “National Working Committee (NWC) of the Peoples Democratic Party (PDP) after its 587th meeting in Abuja on Tuesday, June 4, 2024, restates for the umpteenth time that the PDP is not engaged in any merger, fusion or amalgamation talks with any other political Party or interest.

2024-06-06 14:28:34

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[source](farside investors)
United States-based spot Bitcoin exchange-traded funds (ETFs) saw collective inflows of $488.1 million on June 5, but Google data shows hardly anyone is searching for them compared to 2021’s bull run — a bullish sign that retail investors haven’t arrived yet. The ETFs recorded their second-best inflow day of $886.6 million on June 4. The next day achieved around half that number, with the Fidelity Wise Origin Bitcoin Fund accounting for the largest share of inflows at $220.6 million, Farside Investors data shows.BlackRock’s iShares Bitcoin Trust was second with $155.4 million, and even the Grayscale Bitcoin Trust — which has seen net outflows exceed $17.8 billion since January — saw $14.6 million in net inflows. Despite the strong inflows and a Bitcoin BTCtickers down$71,285 rally past $71,000, Google Trends data shows that, compared to 2021, hardly any Americans are conducting searches related to Bitcoin, Bitcoin ETFs, its price or crypto in general.

2024-06-06 14:21:41

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Marathon Digital, the largest Bitcoin miner, revealed in its monthly report on Wednesday that it sold 63% of the total Bitcoin it mined in May.The firm sold 390 out of the 616 BTC it mined in the month. Some community members have speculated that Bitcoin ETFs may be the buyers at the receiving end of Marathon's transactions.
Bloomberg analyst Eric Balchunas had earlier highlighted that Bitcoin's consolidation over the past few weeks was largely due to Bitcoin ETFs soaking up the selling pressure from profit-taking investors. Marathon Digital may be among these sellers, with the company's report also hinting at more future sell-offs for "general corporate purposes." Several mining companies have come under pressure after speculation that the Bitcoin halving on April 19 will significantly impact their earnings.

2024-06-05 18:57:34

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Today, the Human Rights Foundation (HRF) announced its most recent round of Bitcoin Development Fund grants at the Oslo Freedom Forum, per a press release sent to Bitcoin Magazine.10 bitcoin, currently worth $704,740 at the time of writing, is being granted across 13 different projects around the world. The funds will be used to advance education for people living under authoritarian regimes, privacy and Lightning Network development, decentralized communications, and providing nonprofits and human rights groups with easier onramps to financial freedom tools, according to the release.
The HRF's main areas of focus with this round of grants is countries and regions in Latin America, the Middle East, Asia, and Africa.

2024-06-05 18:41:54

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Ricardo Salinas Pliego, a Mexican billionaire reacted to the news of the Nigerian naira now becoming worth less than 1 Satoshi, urging his followers to buy more Bitcoin as a hedge against falling fiat currencies.Ricardo Salinas who is worth $12.7 billion according to Forbes reacted to the news on X where he reaffirmed his Pro Bitcoin stance and how it can be used to avoid the depreciating value of a country’s local currency.Ricardo Salinas commented on an X post which revealed that 1 Nigerian Naira (N1) is now worth less than one Satoshi (0.00000001 BTC), the smallest unit of Bitcoin.

2024-06-05 18:30:55

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According to DMM Bitcoin’s website, all clients who held Bitcoin (BTC) during the hack will be guaranteed a refund from what is described as “group companies.” “As initially reported, we will guarantee all of the Bitcoin (BTC) held by customers by obtaining support from group companies to replace the amount of Bitcoin (BTC) that was leaked,” the website read.DMM Bitcoin obtained a 5 billion yen loan on June 3 and is set to raise an additional 48 billion yen on June 7 through a “capital increase.” Details of this “increase” were not disclosed on the website. Additionally, the company plans to add 2 billion yen through subordinated loans on June 10, as stated in the announcement.

2024-06-05 04:57:22

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Under the name of ONE Bitcoin ETF Fund of Funds Unhedged, the new fund was planned to be distributed between 31 May and 6 June 2024.Securities and Exchange Commission (SEC) of Thailand has approved One Asset Management (ONEAM) to launch the first spot Bitcoin exchange-traded fund (ETF) of the country. As per reports, the new fund would be distributed between 31 May 2024 and 6 June 2024 under the name ONE Bitcoin ETF Fund of Funds Unhedged and not for Retail Investors (ONE-BTCETFOF-UI), according to a recent report from Bangkok Post. However, the investment will only be available to wealthy and institutional investors, due to volatility. As per reports, ONEAM recommended investors allocate 5% of their portfolio to Bitcoin, expecting an annual return of 8.90%. Although it may increase overall portfolio volatility, the allocation is expected to improve expected returns and Sharpe ratio, a measure of risk-adjusted returns.

2024-06-05 04:54:05

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The U.S.-based spot bitcoin ETFs yesterday made it 15-consecutive sessions of net inflows, with the latest rush of money combing with a rally in the price of (BTC) to send BlackRock's iShares Bitcoin Fund (IBIT) to more than $20 billion in assets under management for the first time.According to Bloomberg Intelligence senior ETF analyst Eric Balchunas, the ETFs pulled in roughly $2.4 billion in fresh money over the past month. That would be the third-largest amount of net inflows across the entire ETF market.

2024-06-04 12:56:16

Australia's Monochrome Asset Management launched its Monochrome Bitcoin ETF (IBTC) on the Cboe Australia exchange starting
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[source](shutterstock)
Tuesday, June 4, 2024.Monochrome Asset Management stated that IBTC is Australia's first and only ETF to hold Bitcoin directly. The announcement highlighted that prior to IBTC, Australian investors were limited to ETFs with indirect Bitcoin exposure or offshore Bitcoin products, neither of which offered the investor protections provided by the directly held crypto asset Australian Financial Services Licensing (AFSL) regime.Monochrome Asset Management initially filed for its IBTC ETF in April, capitalising on the growing global interest in spot Bitcoin ETFs. After receiving approval in August 2022, the fund will now provide investors with direct exposure to Bitcoin, Ethereum, and other crypto assets.

2024-06-03 23:14:09

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The University of Austin, which is admitting its first class of students this fall, has partnered with cryptocurrency platform Unchained to raise $5 million in Bitcoin for its long-term fund. Known as UATX, the school bills itself as being dedicated to free speech and intellectual risk-taking. “Bitcoin provides a unique opportunity for advancing UATX’s commitment to cultivating future generations of leaders and innovators," Thomas Hogan, an incoming associate professor at the university, said in a statement. The university is planning to bring in 100 students this fall and has said it will provide free tuition for that first cohort. UATX’s backers include Larry Summers, a former US treasury secretary and Harvard University president, as well as historian Niall Ferguson and venture capitalist Joe Lonsdale. Journalist Bari Weiss, who is among the founders, revealed plans for the school in 2021.

2024-06-03 23:07:17

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Paraguay continues to crack down on illegal mining activities that siphon power from the country’s electric grid. In an operation executed in Saltos de Guaira on May 28, the Paraguayan National Power Administration (ANDE) and local prosecutors detected and pulled the plug on a giant bitcoin mining farm hosting 2,738 bitcoin miners.While many of these machines were disconnected, the farm had bypassed the connection to the electric meter, obtaining the energy for the operation without being accounted by ANDE. In addition to the bitcoin miners, authorities confiscated five electric transformers with a total installed capacity of 7,150 kilo-volt-amperes.The detection of this farm was possible due to the implementation of several techniques, including supervisory and control systems (SCADA) and artificial intelligence (AI) software to monitor the load current peaks.

2024-06-03 22:32:41

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[source](casa president)
El Salvador's pro-Bitcoin President Nayib Bukele began a new five-year term, with the crypto industry applauding his leadership as he positions the country as a "world leader."El Salvador’s pro-Bitcoin
President Nayib Bukele has been sworn in for another five-year presidential term after a landslide victory in February — an event that has generated much excitement in the crypto industry due to his positive stance on Bitcoin.
“Bukele is Proof of Work— Cheers to 5 more years. God bless El Salvador,” crypto commentator Cory Bates declared in a June 1 X post.
“Exactly 5 years ago today, Nayib Bukele took the Oath of Office, becoming President of El Salvador. Ever since, the country has been a world leader – a beacon of freedom, safety, and innovation. The 1st Bitcoin President” crypto media guru Pete Rizzo added.

2024-06-03 10:02:55

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[source](https://nostr.how/en/clients)
Yesterday, Nostr users from around the US came together at New York City’s premiere Bitcoin bar PubKey for Nostr Village, a mini-conference focused on the open protocol that enables global, censorship-resistant social media and more.The name of the conference included a nod to the neighborhood in which PubKey is located, New York’s historic Greenwich Village. It was also a play on Nostrville, the name of a 2023 Nostr conference that took place in Nashville, TN, which Daniel Modell, Head of Marketing at PubKey and organizer for Nostr Village, attended.“Nostr is something that I was involved with prior to being part of PubKey, and I wanted to bring it to more people,” Modell told Bitcoin Magazine at the event.
“We’re still very early in the Nostr adoption curve and so we have to be the ones to spread the word, just like with Bitcoin in the earlier days,” he added.

2024-06-03 09:39:39

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[source](https://www.flickr.com/photos/gageskidmore/53067465609)
In a historic move, Donald Trump has become the first American President to accept Bitcoin Lightning Network payments for campaign donations. The announcement marks a significant step in the integration of Bitcoin into mainstream politics, highlighting Trump's commitment to advancing the future of Bitcoin in the United States.
Trump's campaign has partnered with OpenNode, a leading Bitcoin and Lightning Network infrastructure provider, to facilitate these donations. Supporters can now contribute to Trump's 2024 presidential campaign using Bitcoin via the Lightning Network, a technology designed to enable fast and low-cost transactions.