Bitcoin News and Finance: What You Need to Know

At 11:06 a.m. Eastern Time (ET) on April 29, 2023, at block height 787,500, the number of blocks left to discover until the next Bitcoin blockchain halving is now fewer than 52,500 blocks. This means the network has progressed 75% through the 210,000-block halving cycle, which will ultimately result in a reduction of the block reward from 6.25 bitcoins per block to 3.125 bitcoins per block. Bitcoin Halving Countdown: Fewer Than 52,500 Blocks Left to Discover On Saturday morning (ET), the Bitcoin network progressed 75% of the way toward the next block reward halving, with fewer than 52,500 blocks left to discover until the event occurs. This milestone marks another step in the ongoing evolution of the Bitcoin network as it progresses toward its eventual maximum supply of 21 million bitcoins. The Bitcoin blockchain halves its block reward every 210,000 blocks, which occurs roughly every four years. ▓▓▓▓▓▓▓▓▓▓▓▓░░░ 75% 365 days and 52503 blocks left $29385 per #bitcoin — Progress ...

U.S. Senator Rand Paul has warned that the U.S. dollar could lose its status as a global reserve currency. “For a variety of reasons, both foreign policy as well as fiscal irresponsibility, yes, the dollar is in a precarious position,” said the lawmaker. Senator Rand Paul on U.S. Dollar Losing Reserve Currency Status U.S. Senator Rand Paul (R-KY) shared his concerns about the growing de-dollarization trend and the USD losing its global reserve currency status in an interview with Fox Business Thursday. He was asked: “Is king dollar going to be tossed off of its throne because of bad fiscal and monetary policies? Is it going to lose its world reserve status in your judgment?” The senator from Kentucky replied: I am concerned about it. “I think our foreign policy has something to do with that … We’ve pushed all of our adversaries farther and farther away from us and closer and closer together. It’s not just Russia and China being pushed together by foreign policy and obviously, s...

Bridgewater Associates founder Ray Dalio has warned that the U.S. and China are “on the brink of war” and “are beyond the ability to talk.” The billionaire added that their relations “are getting so bad” that U.S.-China trade could collapse. He cautioned that the next 18 months “will be a very risky period.” U.S. and China on the Brink of War, Says Dalio Ray Dalio, the founder of the world’s largest asset manager, Bridgewater Associates, warned in a Linkedin post, published Wednesday, that the U.S. and China are on the brink of war. The billionaire, who has visited China for almost 40 years and has built close friendships there, shared his perspectives from his recent 13-day trips to China, as well as from meetings with Chinese citizens, experts on China residing outside the country, and policymakers in other countries, including the U.S. Regarding U.S.-China relations, Dalio stressed: The United States and China are on the brink of war and are beyond the ability to talk. He no...

Economist Stephen Jen, a former Morgan Stanley managing director, expects a shift “from a unipolar reserve currency world to a multipolar world,” with the Chinese yuan, the euro, and the U.S. dollar forming a “tripolar” reserve currency configuration. ‘A Multipolar World’ Economist Stephen Jen, the CEO of asset management firm Eurizon SLJ, expects multiple currencies will chip away at the U.S. dollar’s dominance. Jen was formerly a managing director at Morgan Stanley in London and a senior economist at the International Monetary Fund (IMF). After stating that the U.S. dollar is losing its world’s reserve currency status at “ an alarming pace ,” the former Morgan Stanley director told the Insider publication that the de-dollarization trend is likely to continue. However, he noted that it will “probably not to a point where a non-dollar currency commands a bigger market share than the dollar.” Jen described: More likely, we will evolve from a unipolar reserve currency world to a mu...

Scottish-Salvadoran driver Sebastian Melrose has made his debut in the Porsche Carrera Cup racing championship. The 25-year-old, who took part in a popular Netflix TV series last year, drives a Bitcoin-branded 911 that features the flag of crypto-friendly El Salvador on its rooftop. Bitcoin Racing Team Joins Porsche Carrera Cup With Netflix Celebrity in the Car British racing team Bitcoin Racing has joined the Porsche Carrera Cup together with Richardson Racing, not only to win prizes in one of the U.K.’s biggest racing championships but also to promote crypto. The tandem hired a newcomer to the series, Scottish-Salvadoran driver Sebastian Melrose, who debuted last weekend at the Donington Park circuit. Melrose, who owes a great deal of his fame to his participation in the “Too Hot to Handle” dating game show on Netflix, sat behind the wheel of a “Bitcoin Porsche,” a 500-horsepower 911 GT3 that is sporting the bitcoin logo on its door panels, and on its roof, the flag of El Salvado...

According to regulations published by the country’s treasury secretary, global crypto exchanges used by Kenya’s estimated 4 million users will start paying a 1.5% tax on revenues earned. Tax-Avoiding Digital Asset Platforms The Kenyan Treasury has said it will start levying taxes on revenues earned by cryptocurrency exchanges used by an estimated 4 million local residents. According to a report by Business Daily Africa, Kenyan authorities will rely on the 1.5% digital tax service that became effective on Jan.1, 2021. Initially proposed in 2020, the digital tax is the Kenyan government’s attempt to extract revenue from leading crypto exchanges and tax-avoiding digital asset platforms. As reported by Bitcoin.com News in early January 2021, the Kenya Revenue Authority (KRA) said it expected to get $45.5 million (5 billion Kenyan shillings) from the tax. Meanwhile, as shown in the 2023 regulations’ value added tax (electronic, internet and digital marketplace supply) published by Tr...