Despite the top publicly listed Bitcoin (BTC) mining firms operating at losses, their share prices have dramatically outperformed BTC over the past 12 months. Appearing on CNBC, Fundstrat’s vice president of digital asset strategy, Leeor Shimron, shared his analysis into the market performance of the four largest publicly traded mining firms: Marathon Digital Holdings, Riot Blockchain, Hive Blockchain and Hut 8 — each of which represents a market capitalization of more than $1 billion. Over the past 12 months, Shimron found the average return for shares in the mining firms to have been 5,000%, while BTC has gained 900% over …
With BTC again edging toward all-time highs, a large volume of money is flowing into the Bitcoin derivatives markets. According to crypto market data aggregator Glassnode, outstanding futures contracts pushed into new all-time highs on March 11, with open interest across exchanges approaching $20 billion. More capital is flowing into the derivatives markets, as the amount of outstanding #Bitcoin futures contracts reaches another ATH. Open interest across major exchanges is currently sitting at the verge of the $20B mark. Chart: https://t.co/ygoffzMSJW pic.twitter.com/BiJIpyTKDD — glassnode (@glassnode) March 11, 2021 Options have also surged to see record volumes in 2021, with Derebit …
After climbing to a price of more than $41,000 on Monday, Bitcoin’s market capitalization has surpassed that of the Russian ruble. According to data from CoinMarketCap, the market cap of Bitcoin (BTC) surged to roughly $780 billion on Monday amid the price rising to $41,391, a 5.7% increase over the last 24 hours. BTC’s market capitalization exceeds the money supply of the Russian ruble, which according to the Central Bank of Russia was 65.3 trillion rubles as of Feb. 1 — roughly $629 billion at the time of publication. The flippening likely occurred as the Russian ruble is undergoing inflation …
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% …
Happy white paper day, Bitcoin. It’s been 14 years since Satoshi Nakamoto first sent an email to the Cypherpunk mailing list with the subject line, “Bitcoin P2P e-cash Paper.” The email included a link to the white paper, an outline of what would soon become a one trillion-dollar market. The first sentence of the email has become iconic among the Bitcoin community: “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party.” Over the past 14 years, Bitcoin (BTC) has morphed from a hobbyist pastime into a globally recognized brand. Bitcoin has been …