Bitcoin News and Finance: What You Need to Know

Bitcoin-buying frenzy among major companies could hit Mexican firms soon, as interest keeps increasing across the country. An expert is expecting that local businesses will follow the same path as mainstream U.S.-based companies such as Tesla. Current Bitcoin Performance Could Make Companies Rethink Their Business Models During an interview with El Economista , Mauricio Hurtado, managing partner of Price Waterhouse Cooper Mexico, says Mexican companies’ current appetite to acquire cryptos like bitcoin ( BTC ) is seeing bullish steam. Despite the uncertainties that cryptos have, current crypto market performances create enough confidence to rethink the current business model, said the expert. Hurtado added on the matter: This occurs because there is a significant number of players who are seeing in these currencies a transaction mechanism that is reliable and therefore, businesses adjust to market realities to prevail and have an advantage over their competitors; then you see an i

Just recently, during Microstrategy’s “Bitcoin for Corporations” event, Stone Ridge Asset Management and New York Digital Investment Group (NYDIG) founder, Ross Stevens, explained that he sees a “wall of money” entering the bitcoin space. A week later after that statement, NYDIG has revealed that the company has filed for a bitcoin exchange-traded fund (ETF) and is hoping for regulatory approval. NYDIG Files for a Bitcoin Exchange-Traded Fund With Hopes to Trade on NYSE Arca Last week, when Ross Stevens told the Microstrategy CEO and bitcoin bull, Michael Saylor that he believes a lot of money was coming into bitcoin he probably had a pretty good inclination. Not too long afterward, Stevens’ firm NYDIG a subsidiary of Stone Ridge Asset Management revealed the company is aiming to launch an exchange-traded fund (ETF). The news follows the recent Purpose Bitcoin ETF approval , which will trade on the Toronto Stock Exchange. NYDIG also falls behind the bitcoin-based ETF filings

Following the Cream Iron Bank flash loan attack, preliminary findings of a probe have shown that contracts and markets still function normally. As a result, markets have now been re-enabled while the asset borrowing function has been paused. The Cream team also reveals that investigations are continuing. The Exploit After the exploit , the value of the Cream protocol token plummeted from just over $280 on February 12 to $186.48 24 hours later. At the time of writing, Messari data shows that the token had recovered although it has remained mostly under $230. Meanwhile, in his analysis of the exploit, researcher Igor Igamberdiev reveals that the attacker(s) had “used Alpha Homora for borrowing Synthetix stablecoin from Ironbank.” He adds that “each time they (would) borrow twice as much as in the previous one.” The attacker(s), did this through two transactions and whenever they lend the funds back into Ironbank they would receive Yearn Synthetix stablecoin. According to Igamberdi

Gradual warming to cryptocurrencies by financial companies combined with both retail investments and institutional interest has carved the way for litecoin’s renewed momentum in 2021. Litecoin is Riding the Bull Market to its Next Resistance Level Litecoin had a challenging start. In late 2017 its founder, Charlie Lee, allegedly sold his entire bag of LTC “to concentrate on the project’s development.” Lee, understandably, received a lot of criticism for his decision. The founder, that goes by the Twitter handle Satoshilite (a reference to bitcoin creator Satoshi Nakamoto) didn’t hold back, replaying a year later: I sold because holding LTC made it a situation where I may do something to pump the value short term. but is bad for the long term success of Litecoin. I didn't want that conflict. I've explained this many times. If all you still don't understand, I can't help you. Be gone. — Charlie Lee [ LTC ⚡] (@SatoshiLite) July 7, 2018 Interestingly though, L

The publicly listed company Microstrategy announced that it has plans to purchase more bitcoin after acquiring 71,079 bitcoin during the last six months. On Tuesday, Microstrategy revealed its plans to sell $600 million in convertible senior notes to qualified institutional buyers in order to use the funds for bitcoin. Selling Convertible Notes for Bitcoin At around 7:59 a.m. (EST) on Tuesday morning, Microstrategy (Nasdaq: MSTR) CEO, Michael Saylor tweeted about a new private sale his firm is committing to in order to sell $600 million in convertible senior notes. Microstrategy’s announcement says that the notes will be unsecured, senior obligations of Microstrategy, and will bear interest semi-annually to holders. The notes will mature on February 15, 2027, and Microstrategy says that the firm can redeem cash for all the notes sold. The announcement further reads: Microstrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoins. Micro

The price of bitcoin touched an all-time high surpassing the $50k handle on February 16, 2021. Cryptocurrency advocates celebrated the milestone as bitcoin has spiked more than 200% during the last 90 days and 400% against the U.S. dollar for the entire year. Bitcoin ( BTC ) has crossed the psychological $50,000 zone after fighting the region for more than 24 hours. The leading cryptocurrency, in terms of market capitalization, has gained more than 154% since the all-time high in December 2017. At around 7:37 a.m. (EST) bitcoin ( BTC ) hit $50,603 per unit on Tuesday. Bitcoin ( BTC ) touched an all-time high at $50,603 per unit on Tuesday, February 16, 2021. While BTC captures the $50k mark, the crypto asset’s dominance index is only 61% today. This is due to ethereum ( ETH ) commanding 13.81% of the overall crypto economy’s value and tether ( USDT ) capturing 2.21%. Meanwhile, cardano ( ADA ), polkadot (DOT), and binance coin ( BNB ) all have a touch less than 2%. BTC ’s ha

Tesla CEO Elon Musk believes that too many dogecoins are held by too few whales and has made them a huge offer. He will give his full support if they sell most of their coins, and will even pay actual money for them to destroy their coins in some provable fashion. Some believe that major dogecoin holders need to consider Musk’s offer for the long-term health of the meme cryptocurrency. Elon Musk’s Big Offer to Large Dogecoin Holders Elon Musk believes that dogecoin’s uneven concentration in the hands of a few holders is the only real issue with the meme cryptocurrency and has offered his help to solve the problem. The Spacex CEO tweeted Sunday: “If major dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo … I will literally pay actual $ if they just void their accounts.” At the time of writing, his original tweet got 24.7K comments and has been liked 297.9K times. His follow-up tweet got 6.4K comments and has be

In Mendoza, Argentina, law enforcement launched an investigation against a sports-related investment site for presumably being a bitcoin scam. Among the inquiries, authorities are investigating if they’re involved in money laundering and tax evasion. Platform Claims to Invest Customer’s Funds in Placing Soccer Bets According to Clarin , Javier Giaroli, the prosecutor from the Public Ministry of San Rafael, leads the inquiries against Ganancias Deportivas. Local authorities have been interviewing several alleged victims to determine whether it’s a Ponzi scam or not. Per the findings, Ganancias Deportivas attracted over 41,000 residents from the province of Mendoza, 30,000 of them living in the city of San Rafael. Allegedly based in Costa Rica, the platform offers investment packages that promise high yield returns of 20% monthly and 240% yearly. However, they ask for a one-time payment of 100 euros to join the site, and if each member can refer others to the platform, they can rec

Online censorship has taken front and center since the sweeping ban of former U.S. President Donald Trump from every social outlet he’s been a part of. Other high-profile censorship acts, like Amazon removing alt-right social network Parler from its servers and My Pillow CEO Michael Lindell being banned from Twitter have presented a new paradigm of online censorship. Decentralized database service Bluzelle has decided to fight back so to speak. It has announced a $500,000 grant for censorship-resistant applications in what seems like a direct response to recent acts of online censorship by Big Tech. Bluzelle CTO, Neeraj Murarka, has shared with news.Bitcoin.com his perspective on the ongoing debate surrounding online censorship and Bluzelle’s strong push against it. Bitcoin.com (BC): With major tech brands currently in hot water with the federal government around issues of censorship, what is the motivation behind Bluzelle getting involved in this issue right now? Neeraj Muraka:

A body representing cryptocurrency and blockchain stakeholders in Nigeria has joined other crypto industry players in assailing the recent Central Bank of Nigeria (CBN) directive to banks. The CBN order, which seeks snuff out crypto entities from the banking system, took effect on February 5, 2020. Not Just a Mere Reiteration In a statement , the body, known as the Blockchain Industry Coordinating Committee of Nigeria (BICCON), also dismisses the CBN’s assertion that the new directive is just a “mere reiteration” of what it said in January 2017. The latest directive effectively banned financial institutions from providing services to persons and/or entities transacting in cryptocurrency. Further, the BICCON castigates the CBN for failing to give “any adequate notice or court order of any court of competent jurisdiction.” Also highlighting the hastiness as well as the chaotic implementation of the order, the BICCON reveals how some crypto companies have been affected by this decisio

Cryptocurrency users are leveraging their new-found wealth to fly more often with private jets. This week the directional aviation company Privatefly revealed that close to 20% of the firm’s sales were paid in cryptocurrencies last month, and 13% out of that aggregate used bitcoin. On-Demand Private Flights and Crypto According to data from the company Privatefly , purchasing flights with digital assets has soared in recent times. For instance, the directional aviation company said a few years ago, the company pulled in 1-2% from crypto payments for flights. The numbers jumped significantly in December 2020 to 12%, and subsequently spiked to 13% during the first month of 2021. Out of the 13% in BTC payments, cryptocurrency settlement, in general, makes up 19% of Privatefly’s revenue. Adam Twidell, Privatefly’s CEO. The flight company says that Privatefly started accepting bitcoin early in 2014 and since then, it has expanded its cryptocurrency support. The company uses Bitpay f

Just recently the Mexican billionaire, Ricardo Salinas Pliego, joined Elon Musk and a number of high-profile people, by adding the bitcoin hashtag to his Twitter bio. Salinas is one of Mexico’s wealthiest individuals with a fortune of around $13.2 billion and 10% of the entrepreneur’s liquid portfolio is in bitcoin. Grupo Salinas Chairman Joins the Bitcoin Bio Twitter Trend Ricardo Salinas Pliego is the third-wealthiest individual in the nation-state of Mexico and back in 2013, he purchased BTC for $200. At the time he claimed , it was the “best investment ever.” “I want to sit around for another five or ten years”, he said during the interview in December 2020. Moreover, the Mexican billionaire recently told the public that 10% of his liquid portfolio is in bitcoin (BTC) . Salinas is also vocal about his love for bitcoin on Twitter and once tweeted that “[bitcoin] is inflationary expropriation. Now the chairman at conglomerate Grupo Salinas has put the bitcoin hashtag on his