With the price of bitcoin increasing as of late there have been increasing amount of people coming out stating that it is a bubble; conversely there are enthusiasts who claim that people simply don't understand the cryptocurrency; the WSJ reflects on recent bitcoin news and shares the wide variety of perspectives from their readers. Source
Some of biggest bitcoin miners in China have reportedly been looking to set up operations in other Asian countries; there has been conflicting reports out of China is the last week as to what the country is doing when it comes to mining operations; the PBOC has not made official comments yet and the mining overall doesn’t look to slow down as other countries can fill the role of China. Source.
The macro and crypto economic thesis for 2021, building out the linkages between “Risk-On” assets, flows into and valuation of Bitcoin and Ethereum, and the interplay between value locked, the growth of decentralized application revenue, and the volumes around digital objects. We bring it all together.
Chinese regulators are investigating investment in the cryptocurrency bitcoin as its price is reporting high correlation with the value of the Chinese yuan; according to data from bitcoinity.org, yuan transactions have also accounted for 98% of bitcoin's trading in the past six months; regulators have met with bitcoin exchanges to monitor investment activity; they have also requested that the exchanges do not market the yuan's devaluation as an investment incentive; investors have reported that transaction volumes are limited to a few hundred thousand yuan. Source
This week, we look at:
Pipe’s $150 million raise at a $2 billion valuation to turn annualized revenue run-rate into a new peer-to-peer asset class
BitClout’s $200 million of Bitcoin contributions and its mechanisms to turn social media profiles into digital assets
How both projects trade future performance for current monetization
Celsius, one of the largest crypto lenders, shut its doors to the public over the weekend, citing the dangers of market volatility and defi scams.
Bitcoin was back above $10,000 for the first time in more than a year as the digital currency saw a...
Bitcoin Software Addition 'SegWit' Could Make Digital Currency Faster The Bitcoin community is ready to roll out an enhancement to the digital currency's code base; SegWit (which stands for "Segregated Witness") separates the encrypting of the transaction information from the currency miner's validation signature; currency miners need extensive computing resources and time to prove that a transaction is true and valid, therefore this step has traditionally slowed down the recording of transactions; done with testing, the new SegWit feature could be released as soon as November 15th; it is considered officially adopted once 95% of the Bitcoin software community deploys the code; this could take as little as a month or two, or significantly longer.
The SEC makes the decision to approve a spot Bitcoin ETF
Crypto lending startup BlockFi secured more than $52mn in funding from Mike Novogratz’s Galaxy Digital Ventures. The round will be split...