For much of 2020, it wasn’t exactly a hard year to be a cheerleader for cryptocurrency. Emerging from a brutal macro bear market, the space once again proved doubters wrong and attracted a new batch of converts as money-printing efforts across the globe turned savers and traders onto the power of hard currency. After a coronavirus-related dip, prices have surged across the board, new verticals like decentralized finance are in a state of parabolic growth, and even institutions are finally getting in on the fun. Yet, in a year where portfolio values have risen and longtime proponents got to take …
Bitcoin (BTC) has officially beaten a new record as BTC/USD trades above $10,000 for 100 days, and major gains should come next. As voting in the United States’ presidential election ended on Nov. 3, Bitcoin saw a landmark moment of its own — 100 days straight trading in five figures. Bitcoin sees record stretch above $10,000 The achievement is not just impressive as a record for $10,000-plus prices. According to previous data, once Bitcoin trades above these significant price levels for 100 days, BTC/USD swiftly increases by an order of magnitude. As Cointelegraph reported last week, the length of time …
Block, the pro-Bitcoin (BTC) umbrella company that hosts Cash App, Square and Afterpay, continues its growth in 2022. According to its Shareholder letter, in the first quarter of 2022, gross profits are “up 34% year over year.” In total, the group netted $1.29 billion in gross profits. However, operating costs were also up “$1.52 billion in the first quarter of 2022, up 70% year over year.” The group explains that the acquisition of Afterpay, a buy now pay later service, could explain the increasing costs. In total net Block’s revenues reached $3.96 billion from January to March 2022, down 22% …
The emergence of forty-year high inflation readings and the increasingly dire-looking global economy has prompted many financial analysts to recommend investing in gold to protect against volatility and a possible decline in the value of the United States dollar. For years, crypto traders have referred to Bitcoin (BTC) as “digital gold,” but is it actually a better investment than gold? Let’s take a look at some of the conventional arguments investors cite when praising gold as an investment and why Bitcoin might be an even better long-term option. Value retention One of the most common reasons to buy both gold …
El Salvador, the small Central American nation that made history just over a year ago when it made Bitcoin (BTC), recently marked its first year of BTC adoption. The Salvadoran government touted BTC as a tool to attract foreign investment, create new jobs and cut reliance on the United States dollar in the country’s economy at the time of adoption. Many BTC proponents and the libertarian community rallied behind the small nation despite mounting pressure from global organizations such as the World Bank and International Monetary Fund (IMF) to remove BTC as a legal tender. A lot has changed over …