Bitcoin News and Finance: What You Need to Know

As the so-called ‘meme coin’ is actively making the headlines within the crypto sphere, a publicly-traded company is joining the dogecoin frenzy. Kronos Advanced Technology announced they’ll start accepting dogecoin as one of its payment methods. Kronos Also Accepts Other Cryptocurrencies Such as Bitcoin and Ether According to the announcement , the Los Angeles-based firm is adding dogecoin (DOGE) to its accepted payment form. In fact, customers will be able to purchase air purifiers, and personal protective equipment (PPE) supplies via the meme coin. Adopting dogecoin as a payment method was not as part as just of a crypto adoption-driven maneuver. The company praised the popularity of the token and its uniqueness within the industry. Also, Kronos pointed out that dogecoins transactions’ speed is a positive note for the Shiba Inu inspired meme token. So far, the company accepts several cryptos as payment methods, such as bitcoin ( BTC ), ethereum ( ETH ), litecoin ( LTC ), among

Following the Wallstreetbets saga last week, a great number of the popular shares being fueled by social media have started to tank in value. Gamestop shares dropped over 60% on Tuesday, while AMC dropped more than 49% shaking investors who bought into these stocks to the core. Meanwhile, a number of cryptocurrency advocates believe the only true way to stick it to the bankers and Wall Street is to leverage digital assets like bitcoin. Reddit’s Favorite Stocks Begin to Feel Pain Last week, news.Bitcoin.com published numerous reports on the fiasco that started on the Reddit forum r/wallstreetbets and then went viral across the internet. Redditors, meme lords, and retail investors attempted to short squeeze Gamestop (GME) shares and at first they were successful in shaking out billions from hedge funds. The trend also moved into a few other stocks like AMC theaters and the mobile company Nokia. However, after a few days of headlines, these stocks and even silver started to feel th

Michael Saylor, the ‘bitcoin slayer’ that needs no introduction, continues his attacks on everything non-bitcoin, this time unleashing his wrath on gold. It Feels Great, Says Saylor of Owning More Than 71K Bitcoins In an interview with Andrew Henderson of Nomad Capitalist, a legal finance advisory, Saylor, condemning gold as a “dying asset” and “dead money,” offered his view of the future of investment: gold is out, bitcoin is in. To recap Saylor’s ascent to bitcoin supremacy, his firm Microstrategy made headlines for its relentless bitcoin shopping spree during 2020, buying 29,646 coins in December alone. 2021 is no different, with Saylor announcing today another purchase of 295 bitcoins, bringing his total to 71,079. MicroStrategy has purchased approximately 295 bitcoins for $10.0 million in cash, at an average price of ~ $33,808 per #bitcoin . We now #hodl ~ 71,079 bitcoins acquired for $1.145 billion at average price of ~ $16,109 per bitcoin. https://t.co/lmj3QCgKbw — M

Spacex and Tesla CEO Elon Musk has been trying to get to the bottom of what happened with the popular trading app Robinhood when it stopped people from buying shares of hot stocks, like Gamestop. The shares of these stocks became popular due to the Wallstreetbets movement. Elon Musk Says People Want the Truth From Robinhood During an interview on The Good Time Show via the Clubhouse app Sunday night, Elon Musk grilled the CEO of trading app Robinhood, Vlad Tenev, over the company’s decision to restrict hot stocks last week, including Gamestop. On Friday, Robinhood also restricted crypto trading, citing “extraordinary market conditions.” “What happened last week? Why can’t people buy the Gamestop shares? The people demand an answer and they want to know the details and the truth,” Musk said. Tenev began by explaining the structure of his company. “Robinhood is actually a couple of companies,” he described. Robinhood Financial processes trades, Robinhood Securities clears and settle

PRESS RELEASE. Bitcoin.com Exchange is thrilled to announce the listing of BTCV on the 2nd of February 2021 at 14:00 UTC. BTCV, a cryptocurrency launched back in 2019, claims to have come up with a theft-proof security solution. According to its makers, Bitcoin Vault (BTCV) was developed as the ultimate coin for the crypto enthusiast, hodlers, and traders alike. BTCV will be listed with BTC as a trading pair on Bitcoin.com Exchange, with more trading pairs being introduced at a later stage. What Is Bitcoin Vault (BTCV)? Since decentralized blockchains are immutable, canceling transactions is not possible. So, if someone makes a mistake while transferring the funds or if there was an unauthorized transaction there is no way to revert the funds back into the wallet. BTCV is not a fork of Bitcoin, it is a new blockchain based on the code behind Bitcoin which uses the same hashing algorithm needed to mine new coins – SHA-256. Since its inception, the creators behind BTCV have contin

The Indian government has clarified its position on cryptocurrency and the country’s digital currency in answers provided by the Ministry of Finance in Rajya Sabha, the upper house of India’s parliament. The Indian crypto industry sees this clarification as positive news and that the government is unlikely to impose an outright ban on cryptocurrencies, including bitcoin. Indian Government Answers Questions About Cryptocurrency and Digital Rupee Rajya Sabha, the upper house of India’s parliament, published a list of questions and written answers on Feb. 2 that include the topic entitled the “Introduction of India’s own cryptocurrency.” Member of Parliament Sri Sanjay Raut asked the finance minister whether the Indian government is aware that many business companies are using cryptocurrency for international transactions during the last year and whether the government is considering the possibility of introducing India’s own cryptocurrency. The questions were answered by Minister of

An Ontario man based in San Bernardino County of the U.S. has agreed to plead guilty to federal charges of illegally operating a bitcoin to cash exchange business. According to the U.S. Department of Justice (DOJ), the man, Hugo Sergio Mejia, 49, operated the unregistered exchange business between May 2018 and September 2020. Accordingly, Mejia now faces “a statutory maximum sentence of 25 years in federal prison” once he pleads guilty. In a statement announcing the charges, the DOJ says Mejia had, as part of his plea agreement, admitted that he had not “registered his business with the FinCEN.” The DOJ explains in the statement that during the “nearly 2½-year period” Mejia had managed to exchange at least $13 million. However, as part of efforts to conceal his true activity, Mejia also admits that he created companies specifically for this purpose. Further, the DOJ statement adds: Mejia advertised his business online and was referred to customers by word of mouth, communicating

The Wall Street Bets saga, an incredibly ridiculous story about a group of amateur Reddit investors who beat career Wall Street hedge funds at their own game, is to be made into a movie. According to a report by online news site Deadline on Jan. 31, Metro Goldwyn-Mayer (MGM) won the rights to produce the film in a bidding war involving major Hollywood movie houses. The movie is to be based on a book proposed by author Ben Mezrich. Mezrich’s previous work, “The Accidental Billionaires: The Founding Of Facebook, a Tale Of Sex, Money, Genius and Betrayal,” was adapted into the motion picture “The Social Network.” The title to his planned latest book offering is called “The Antisocial Network ,” said the report, quoting sources familiar with the development. The book is expected to go out to publishers later this February, it said. However, it is not yet clear what shape or structure the movie will take. MGM’s Michael DeLuca will produce the film. DeLuca also produced the Academy-Aw

Alongside the cryptocurrency’s meteoric climb over the back half of 2020 and early 2021, a curious phenomenon has unfolded; heightened profit-taking and conversion to fiat currencies. Data collected by Simplex, a fiat-crypto gateway, underscores this seemingly paradoxical development. A Curious Race to Convert Crypto to Fiat Has Accompanied Bitcoin’s Latest Drive Higher Sharing exclusive data with Bitcoin.com, Simplex cofounder and chief analytics officer Netanel Kabala says: While the international press coverage of Bitcoin’s rally has caused a swathe of new users to flock to the industry and buy-in, outflows have been equally significant. Of the total amount of cryptocurrency sold in the last six months, 43% was off ramped in December alone. A quick look at Google Trends for the term ‘Bitcoin’ echoes these developments, especially now that new equity instruments like Grayscale Bitcoin Trust and big-name funds like Blackrock are adding exposure and raising crypto awareness

The U.S. Federal Reserve (Fed) has posted a job advertisement that seeks to hire a role related to stablecoins and central bank digital currencies (CBDC). The Fed is looking for a research manager to join its team to assess the “benefits and risks” of digital assets. The Role Is Part of the Fed’s Digital Innovation Policy Per the Linkedin job posting , the Federal Reserve Board expects the selected candidate to manage the “Digital Innovation Policy Program.” The department oversees “all aspects of a program focused on emerging issues at the intersection of technology and payments.” The Fed highlights in the post, the “changing nature” of payment platforms in a digital environment. However, the role is not limited to doing in-depth research on how digital assets could benefit the economy. In fact, the U.S. Federal Reserve is aiming with the research manager of the Digital Innovation Policy Program to address “regulatory framework for emerging payments platforms” issues. The job ad

This past week, another social media trend started on the Reddit forum r/wallstreetbets, which aims to initiate a large silver short squeeze in order to push the price of the precious metal to $1,000 per ounce. However, the silver squeeze trend comes with controversy, as numerous wallstreetbets supporters believe hedge funds like Melvin Capital and Citadel are behind the silver push. The Controversial ‘Silver Squeeze’ During the last week, news.Bitcoin.com reported on the wallstreetbets (WSB) saga taking place on social media forums and the infamous subreddit r/wallstreetbets. Since the mega short squeeze on the Gamestop (GME) shares, the squeeze maneuver has also spilled into a number of other stocks. This week, shares from the Russell 3000 Index (RUA) were targeted including tickers like NOK, GOGO, AMCX, and FIZZ. But the trend didn’t stop there, as one post, in particular, had called for a “silver squeeze.” The WSB Reddit post called for the silver squeeze to push the price of

As dogecoin’s frenzy keeps making the headlines in the crypto sphere, some people are not happy with it. Billy Markus, Dogecoin’s cofounder, has been a target of long-lasting online harassment, which still doesn’t end, he claims. Markus Sold All His Doge in 2015 The so-called meme coin, DOGE skyrocketed well over 325% in a single day, specifically on January 29, 2021. The dynamic was the similar one followed by the Gamestop/Wallstreetbets saga. In this case, a Reddit group called Satoshistreetbets was allegedly behind the recent dogecoin’s pump. However, Markus, also known in the crypto industry as “Shibetoshi Nakamoto,” published some tweets, clarifying publicly that he sold all his DOGE in 2015 after “getting laid off and freaking out about money.” In fact, he pointed out that money was enough to buy a used Honda Civic car. Dogecoin’s cofounder also claimed that he left the Dogecoin project seven years ago due to harassment from the community. However, Dogecoin’s cofounder say

BitGesell represents a deflationary cryptocurrency that closely resembles bitcoin, but comes along with a few design changes. Its value proposition stems from Silvio Gesell’s financial market philosophy, who imagined monetary units that lose their value over time through demurrage. To keep things simple, BitGesell achieves scarcity through the means of accelerated block reward halvings and transaction fee burns. The Dawn of the Crypto Age & Replacing Outdated Fiat Over the last few years, the worldwide financial system has continuously lost its legitimacy, thereby positioning itself on the path to collapse. The key reason behind this downfall consists of monetary devaluation fueled by soaring levels of public debt. Instead of employing viable strategies for debt management, some governments prefer to keep themselves solvable via shameless money printing. In doing so, inflation rises so fiat money loses its purchasing power. Luckily, this is the onset of a new era – the cryptoc