Bitcoin News and Finance: What You Need to Know

Fund manager Brian Kelly says that the market is mispricing bitcoin and “when bitcoin gets that mispriced it is the sign of the bottom.” He sees a string of “all positive things” that are reflected in the pricing of the cryptocurrency. Asset Manager Brian Kelly Says Market Is Mispricing Bitcoin Brian Kelly, the founder and CEO of digital currency investment firm BKCM LLC, was asked about where he sees the price of bitcoin heading in an interview with CNBC on Tuesday. Kelly manages the BKCM Digital Asset Fund and the REX BKCM Blockchain ETF (NYSE: BKC). He authored “The Bitcoin Big Bang – How Alternative Currencies Are About to Change the World.” In addition, he was previously a hedge fund manager at Shelter Harbor Capital, where he co-founded. He also co-founded MKM Partners, a brokerage firm catering to institutional investment managers. “For me, when you look at bitcoin, it’s all about network effect and address growth,” the asset manager said. “One of the key metrics I look at

Goldman Sachs’ head of commodities research says bitcoin is more like copper as a hedge against inflation than gold. He explained that they are both “risk-on” inflation hedges whereas gold is a “risk off” asset. Bitcoin Is More Like Copper Than Gold as Inflation Hedge The global head of commodities research at Goldman Sachs, Jeff Currie, said in an interview with CNBC on Tuesday that cryptocurrencies are an alternative to copper, not gold, when used as a hedge against inflation. He elaborated: You look at the correlation between bitcoin and copper, or a measure of risk appetite and bitcoin, and we’ve got 10 years of trading history on bitcoin — it is definitely a risk-on asset. He further emphasized that bitcoin and copper act as “risk-on” inflation hedges whereas gold is viewed as a safe haven or a “risk off” asset. The Goldman analyst explained: “There is good inflation and there is bad inflation. Good inflation is when demand pulls it, and that is what bitcoin hedges, that i

The mining rig manufacturer Canaan saw steady profits during the Q1 after reporting its unaudited first quarter 2021 financial results on Tuesday. Canaan noted that it expects to at least sustain current profits or rise above to roughly $150 to $250 million in revenue for Q2. Canaan Expects $250M in Revenue for Q2 – Company Recognizes It’s Hard to Predict With Current Bitcoin Volatility On Tuesday, the China-based ASIC mining rig maker Canaan (Nasdaq: CAN) published the firm’s unaudited first quarter 2021 financial results and the company did well this year. The amount of hashrate sold jumped by 122% compared to the same period of 2020. Additionally, Canaan saw a “larger volume of sales orders of bitcoin mining machines” during the first quarter. Total net revenue was around 402 million yuan or $61.5 million according to Canaan’s unaudited financial records. “Our financial performance improved significantly in the quarter, driven by the Bitcoin price rally, higher customer demand

PRESS RELEASE. Bitcoin.com Exchange is ecstatic to announce the listing of BOND, being available to trade on the 2nd June 2021 at 12:00PM UTC . BOND was created by the Bonded.Finance team, as the driver and receipt of value within their platform. BOND will start trading with BTC and USDT pairs. What is Bonded.Finance? With nearly 7000 trackable assets and some 700 exchanges in crypto, it is an understatement to say that liquidity is scattered and that early stage projects as tradable assets make for capricious token holders. Even the meteoric rise of DeFi has done little to change this as lending/borrowing protocols and the true earning potential of tokens are realized only by a select few cryptos. Bonded Finance sees a massive opportunity in this. With crypto maturing as an asset class, there are scores of well-capitalized projects with solid volume and price histories to go with deliverables, yet, they have not been afforded the opportunity to partake in the decentralized fina

The infamous Internet meme “Pepe the Frog” will be immortalized in non-fungible token (NFT) collectible form by the frog’s original creator Matt Furie. Of course, Pepe has been featured in blockchain art before and a series of cards were created via Counterparty in 2016. However, despite the number of NFT rare Pepes on the web, Furie says when it comes to his famous frog, “Everything else is a bootleg.” Feels Good Man “Nothing beats the real thing,” the creator of the notorious Pepe the Frog Internet meme told the Washington Post (WP) this week. Matt Furie is well known for creating Pepe the Frog back in 2005 in a comic called “Boys Club.” When the picture hit the web, it went viral on Myspace, Reddit, 4chan and Tumbler, and later was recognized as one of the most popular memes of the last decade . Now Furie is getting into the non-fungible token (NFT) collectibles game and he’s bringing Pepe with him. Furie has launched a web portal called pegz.fun and it features animated 2-D an

Google has announced an update to its financial products and services policy, which includes its policy on cryptocurrency advertising. The new rules will take effect in August and all prior crypto exchange certifications will be revoked. Advertisers must request new cryptocurrency exchanges and wallets certification with Google. Google Introduces New Crypto Ad Rules Google Inc. posted a notice Wednesday regarding its new crypto ad policy. “This policy will apply globally to all accounts that advertise these financial products,” the Internet giant wrote. The notice explains that Google will update its existing financial products and services policy in August “to clarify the scope and requirements to allow the advertisement of cryptocurrency related business and services.” The tech giant wrote: “Beginning August 3, advertisers offering cryptocurrency exchanges and wallets targeting the United States may advertise those products and services when they meet the following requirements

The U.S. government is expanding its cryptocurrency analysis in a strategy to find and pursue criminal transactions. This comes in the wake of a rising problem of ransomware involving cryptocurrency, such as bitcoin. “Combating ransomware is a priority for the administration,” said a spokesperson for the White House. US Government to Expand Cryptocurrency Analysis The Biden administration unveiled its strategy to combat cryptocurrency ransomware in a White House press briefing Tuesday. “Combating ransomware is a priority for the administration,” White House Principal Deputy Press Secretary Karine Jean-Pierre said. “President Biden has already launched a rapid strategic review to address the increased threat of ransomware to include four lines of effort.” Jean-Pierre described that one line of effort targets the “distribution of ransomware infrastructure and actors working closely with the private sector,” while another focuses on “building an international coalition to hold countr

Approximately 378 days ago, before the bitcoin bull market started to heat up, a unique block was spent stemming from a coinbase reward created 37 days after the Bitcoin network launched. It seems roughly ten coins from the block reward were sold to an exchange, but 40 bitcoin worth $1.4 million at today’s exchange rates sits unspent. As the Last Block Reward from 2009 Was Spent on May 20, 2020, Approximately 40 Bitcoins Remain Unspent Around this time last year, a curious block was spent that invoked a great amount of speculation. On May 20, 2020, an entity spent a coinbase reward that was minted on February 9, 2009. It was widely assumed it may have been related to Satoshi Nakamoto but this assumption has never been verified. What we do know is that it was block reward 3,654 and it was spent 627,404 blocks later, at block height 631,058. We also know that the only transaction associated with the mining of block 3,654 was the coinbase reward. The transfer that took place over a

Major banking corporation Standard Chartered is launching a cryptocurrency exchange and brokerage service, giving its clients access to cryptocurrencies, such as bitcoin and ether. Standard Chartered joins a growing list of major banks worldwide that have embraced cryptocurrency. Standard Chartered Bank Diving Into Crypto Standard Chartered PLC (STAN.L) said Wednesday that the bank’s innovation arm, SC Ventures, will establish a cryptocurrency brokerage and exchange platform. The new exchange will be a joint venture between SC Ventures and BC Technology Group (0863.HK), a Hong Kong-based investment company specializing in digital assets. BC Technology operates OSL, the first cryptocurrency exchange to be licensed by Hong Kong’s Securities and Futures Commission. Alex Manson, head of SC Ventures, commented: We have a strong conviction that digital assets are here to stay and will be adopted by the institutional market as a highly relevant asset class. “We are constructing the b

PRESS RELEASE. Tel Aviv – June 2, 2021 – Kirobo , a leading cryptocurrency solutions developer, has announced that its crypto transfer ‘undo button’ is now available for transactions involving UNI, Chainlink, BNB , USDT , Sushi coin, as well as its native utility token KIRO . This extends the reach of Kirobo’s solution to over 4.5 million holders of these coins. The ‘undo’ solution, which has so far only been deployable for BTC and ETH transactions, represents Kirobo’s first product, and allows users to reverse a crypto transfer sent in error — eliminating the myriad of human error risks inherent to the execution of crypto transactions. The company plans to integrate its solutions across several crypto exchanges over the course of 2021. Kirobo has already created logic layers over the Bitcoin and Ethereum network, and is rolling out advanced services and solutions on top of this layer. The logic layer functions by providing a unique transaction code that must be entered by the r

Hungary plans to be the first country in the world to erect a statue of Satoshi Nakamoto, as a life-size bronze bust of Bitcoin’s creator will be displayed in Budapest. The bronze bust design is being constructed by two sculptors, Tamás Gilly and Réka Gergely. A Reflective and Hooded Bronze Bust of Satoshi Nakamoto to be Erected in Budapest A statue of Satoshi Nakamoto is being created to be erected in Budapest, Hungary when the project is complete. The creators of the bronze bust, Tamás Gilly and Réka Gergely, have recently revealed design plans for the famous cryptocurrency inventor’s statue. Of course, not knowing who the anonymous Nakamoto is makes it very hard to sculpt an image of him, but that’s not stopping Gilly and Gergely. According to the initial design sketches, Satoshi Nakamoto will be a hooded figure that references both the unknown “people of the internet” and Bitcoin’s mysterious creator. The artists and the individual who came up with the idea believe Nak

On June 1, Major League Baseball (MLB) reporter David Adler announced the MLB organization established a long-term deal with the digital collectible company Candy Digital. The oldest American professional baseball organization is stepping into the non-fungible token (NFT) collectibles world and will start by launching a Lou Gehrig NFT. MLB’s First NFT Will Feature ‘The Iron Horse’ Lou Gehrig MLB, the professional baseball organization launched in the U.S. in 1903, has announced a long-term NFT deal with the Galaxy Digital-backed firm Candy Digital. The agreement with digital collectible company Candy Digital was revealed on Tuesday by MLB reporter David Adler. In a little over a month on July 4th weekend, MLB will launch the first NFT featuring the New York Yankees’ first baseman Lou Gehrig. “The first NFT from MLB and Candy is a 1-of-1 NFT of Gehrig’s iconic ‘Luckiest Man’ speech that the Yankees legend delivered on July 4, 1939, at Yankee Stadium, after being diagnosed with ALS,

Argentina, the ailing South American country, is experiencing a cryptocurrency mining resurgence due to artificially low power rates maintained by subsidies from the national government. This fact, alongside exchange controls and the possibility of selling obtained assets at a higher exchange rate than the official one, is enticing more and more individuals to enter the mining business. Argentina Is Experiencing a Mining Boom Argentina is experiencing a mining boom, due to the highly subsidized power rates and exchange controls enabling miners to sell their mined bitcoins at a higher exchange rate than the official one established by the government. The surging interest in mining cryptocurrencies also has to do with the fact that Argentina is subject to capital controls that forbid citizens from exchanging more than 200 dollars for their local fiat currency, the peso; this, consequently, has also caused a rise in the demand of other convertible currency to safeguard their buying po

Southdown Dental, a clinic in Mississauga, Ontario, is introducing a new payment option. Patients will soon be able to pay with cryptocurrency for its services. The dental clinic says it will take digital money for any procedure, from regular checkups to children’s braces. Canadian Dental Clinic Meets Rising Demand for Crypto Acceptance The dental clinic is stepping into the crypto world to address a “growing positive sentiment towards cryptocurrency.” Its management noted the increased use of digital coins in Canada’s consumer and services industry. Cryptocurrency offers users autonomy, reduces transaction fees, and facilitates quick and easy payments, the clinic pointed out in a press release. Southdown Dental provides services to the residents of Mississauga in the Greater Toronto Area, in Canada’s most populous province, Ontario. The clinic, which was established in 1989, takes pride in being an “early adopter of innovations” in the dental field, utilizing the latest availabl

PRESS RELEASE. Toronto, Canada – June 1, 2021 – Created and rigorously tested by expert data scientists in cohort with expert traders, CryptoHawk.AI allows anyone to harness the power of artificial intelligence and machine learning for improved investment returns in crypto. With the software’s AI based predictions investors are able to remove stress, reduce risk, and save time all while taking advantage of volatility when investing in bitcoin and ethereum. How the solution works Cryptohawk’s data scientists have simulated human problem-solving and mental processing in a proprietary computerized model drawing the domain expertise of professional traders. CryptoHawk.AI’s algorithm analyzes millions of data points like volatility, variance, volume, sentiment, search, news, trends, and historical prices 24 hours a day. The algorithm synthesizes, evaluates and organizes data in-order to discover new patterns, anomalies, relationships and manipulates this data into real-time intelligence.

While it seems the big block vs. small block debate is over, it is still relevant in the cryptocurrency sphere and some users are still delving into the limits of big blocks. Mtrycz, a writer leveraging the read.cash blogging platform, claims to have mined 1 gigabyte (GB) block using a Raspberry Pi4 on the Bitcoin Cash scalenet, showing it is indeed possible to deal with these block sizes, albeit only in an experimental way for now. 1GB Block Mined With a Raspberry Pi4 Mtrycz, a writer who regularly posts experiments to the BCH-based blog platform read.cash , has achieved a mining breakthrough by mining a massive 1GB block with only the computing power of a Raspberry Pi4. Mtrycz claimed to have done this by using a new “light” template created last year by BCHN, the current leading Bitcoin Cash ( BCH ) full node implementation. However, this was no easy task. While the block did get mined, it took some time to get it done. According to his reports, the whole ordeal took more than

A British man has shared his story of how his cryptocurrency addiction has led to criminal charges and landed him in a hospital for addiction treatment. He lost more than a million dollars of other people’s money trying to duplicate his previous success in cryptocurrency trading. Crypto Addiction on the Rise, One Hospital Is Treating Over 100 Crypto Addicts A British man has shared his story of how his cryptocurrency addiction turned him into a criminal, the BBC reported . Referring to him as Jake, the publication noted Sunday that he is currently in treatment at one of the only hospitals in the U.K. that treats people obsessed with gambling on the value of cryptocurrencies. His identity is not disclosed due to him still being treated at the hospital. Jake lost millions of pounds trading cryptocurrencies. He first bought bitcoin in 2015 but his addiction problem only started a couple of years ago. “I can pinpoint the exact moment it became a problem,” he described. “I had been erod