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Bitcoin [BTC], the world’s largest crypto currency has garnered a lot of support over time. Several have been embracing the king coin after altering their perception of BTC. But a few others continue to find faults in the asset. Gold bug Peter Schiff has been a critic of BTC for quite some time. He still condemns the crypto currency even after it has evolved over the past few years. More recently, he suggested that Bitcoin is a “fraud.” Recent comments from MicroStrategy co-founder and Bitcoin bull Michael Saylor prompted Schiff to outrightly label BTC as a “fraud” and a “scam.” Saylor uploaded a short clip that contains points on how the financial system is poised to implode and how the US currency is losing purchasing value. In addition to this, it shifts into full-fledged evangelism, with Bitcoiners appropriating ideas from the religious realm. Tim Draper, a venture capitalist was also part of the video and compared the BTC market. to a decen...

The entire cryptocurrency market has been in a slump lately. Several assets have been struggling to record a decent surge. Bitcoin [BTC], the world’s largest cryptocurrency , was being pushed down by the bears too. Amidst this downtrend, several whales were seen buying the dip, while the others stayed cautious. A dormant Bitcoin miner wallet resurfaced and made news after 14 years. The wallet decided to re-enter the market by moving 50 BTC worth over $3 million to Binance. Lookonchain revealed this movement and noted that $3.05 million worth of Bitcoin was moved. It is said that this Bitcoin was mined on July 14, 2010. Block 67,254 was used to earn all 50 BTC. The block reward for mining the block was $3.05 million worth of Bitcoin. The block data further show that there were four transactions totaling 1,085.85 BTC with a difficulty of 45.38682234. A miner wallet woke up after being dormant for 14 years and deposited 50 $BTC($3.05M) to #Binance 7 hours ago. The miner earned 50 $B...

Notable economist and financial personality Peter Schiff is back with his eccentric comments concerning Bitcoin and the overall cryptocurrency market. Taking it up on X, Schiff dissected the Bitcoin narrative, adding how the rise of Bitcoin is overshadowing the gold and silver bullish phases. Also Read: What’s Happening Between The US Dollar And The Japanese Yen Today? Schiff Disses Bitcoin, Again Source: Entrepreneur Peter Schiff, a leading economist, has grabbed global attention by making his Bitcoin-centric views known to the world. The economist took to X to share another opinion, adding that the rise of Bitcoin to $78k is overshadowing the bullish momentum of the gold and silver rally. Schiff later dubbed the current price hike of Bitcoin as “insignificant,” adding how the current Bitcoin rally is suppressing the stellar price hikes documented in the sectors of gold and silver. The economist was later accused of BTC’s current price surge, reiterating...

Genesis Global gets court approval to repay $3 billion to customers. Judge Sean Lane overruled an objection from Genesis parent company Digital Currency Group. DCG argued payments to be in US value of assets as of bankruptcy filing in January 2023. Genesis Global has secured court approval to return $3 billion in cash and crypto to its creditors, details in a recent court filing show. The payouts will represent about 77% of customers’ claims. However, the payout doesn’t include Digital Currency Group (DCG), the parent company of Genesis Global. The development comes after US Bankruptcy Judge Sean Lane approved the Chapter 11 bankruptcy plan Genesis Global and its subsidiaries filed in January 2023. Genesis’ bankruptcy followed the collapse of Three Arrows Capital and FTX in 2022. Judge overrules DCG objection As noted above, the plan to return billions of dollars worth of crypto assets and cash to Genesis creditors has received a node ...

Cryptocurrency trading is a whirlwind of uncertainty where wealth can vanish or multiply instantly. One recent example is an anonymous investor, often called a “whale” in digital circles, who swiftly amassed $3 million in just four days through Bitcoin [BTC] trading. Their actions offer a glimpse into the rollercoaster ride that is digital asset investment. Four days ago, this particular whale spotted an opportunity at the market’s nadir, purchasing a hefty amount of BTC. With a sharp eye for market trends, they deposited an impressive 767 BTC, totaling a staggering $48.46 million, into the reputable exchange Binance. Little did onlookers know, this was merely the opening gambit of a high-stakes trading spree. Demonstrating impeccable timing, the investor swiftly withdrew the same 767 BTC from Binance a mere eight hours later, taking advantage of a brief surge in Bitcoin’s value. However, the plot thickened as the market took an unexpected turn, leading to a d...

Michael Saylor ’s MicroStrategy company is announcing a new private offering of $600 Convertible Senior Notes. According to a press release by the company, MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoin and for general corporate purposes. JUST IN: Michael Saylor 's MicroStratgey to raise $600 million to purchase more #Bitcoin. — Watcher.Guru (@WatcherGuru) March 4, 2024 In a statement, MicroStrategy says the notes will be unsecured, senior obligations of MicroStrategy. They will bear interest payable semi-annually in arrears on March 15 and September 15 of each year, beginning on September 15, 2024. MicroStrategy, led by Saylor, has been one of the biggest investors in Bitcoin over the past few years. Now, they are looking to buy even more with the help of their clients. In addition to the senior notes, MicroStrategy also expects to grant to the initial purchasers of the notes an option to purchase, within...

The anonymous Bitcoin founder Satoshi Nakamoto launched BTC in January 2009 months after the 2008 financial crash. Bitcoin was launched to protect investors from the global banks, markets, and various other financial institutions that cause harm to day-to-day investors. Since its launch in 2009, the mainstream media and leading financial experts have declared Bitcoin dead several times. The narrative does not end and the BTC obituary numbers keep piling up every year in the media. Also Read: 59% Americans Believe US Economy Is in Recession: White House Says No However, despite being declared dead multiple times, Bitcoin beat expectations and spiked in price throughout. BTC has been delivering profits to investors for a decade and several people have even turned millionaires. Nonetheless, the same cannot be said for the stock markets as returns have been negligible in the last few years. In this article, we will highlight how many times Bitcoin (BTC) was declared dead in the y...

BTC HODLers Multiply According to Glassnode, the il liquid supply of Bitcoin is steadily increasing at a rate of +119K BTC per month. This indicates that coins are increasingly accumulating in wallets with minimal transaction history, reinforcing the notion that HODL ing remains the prevailing market dynamic. advertisement This trend suggests that a significant portion of BTC holders are choosing to retain their coins rather than actively trading or selling them. In parallel, Bitcoin dominance has been climbing, currently standing at 47.6%, representing a year-to-date increase of 7.6%. This upward trajectory indicates a consistent rotation of capital from altcoins to major cryptocurrencies. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read ...

- Advertisement - The market is witnessing a massive flow of funds from stablecoins into Bitcoin. - Advertisement - Bitcoin (BTC) recaptured the $26,900 price point today for the first time since June 2022. Despite facing rejection at the lofty position, the asset’s rally persists, driven by a mirage of bullish factors, including a massive inflow of funds squeezed out of stablecoins by investors. Investors Abandon Stablecoins Crypto-focused data analyst James Straten called attention to this growing pattern today, citing data from Glassnode. A Glassnode chart reveals that $7 billion has been drained from stablecoins and sent to BTC in the past 30 days, with up to $16 billion drained in the past 4 months. The story of 2023 is stablecoins being drained for #Bitcoin. $7B of stablecoin outflows in the past 30 days ($16B in the past 4 months). pic.twitter.com/Cq4q0fbcvL — James V. Straten (@jimmyvs24) March 17, 2023   This pattern has been triggered by the growing issu...

Despite being in the midst of a banking crisis, Bitcoin has been able to fare well and gradually rise up on its charts. In fact, the largest crypto’s dominance as a percent of the total crypto market cap has risen from the end of February’s 43.9% to 47.7% at the end of March. Reasoning out why, a recent Coinbase research Analysis noted, “ Part of the reason is that the stress in the banking system reinforced bitcoin ’s “store-of-value” properties. That is, because bitcoin largely exists outside of the traditional financial system, it offers a hedge against current conditions. “ Alongside, it should be noted that the U.S. Dollar Index continues to be on a macro-downtrend, despite the brief recovery noted from early February to early March. Bitcoin, on the other hand, had quite a fruitful Q1 and has been gradually inclining. In fact, the U.S. Dollar Index ’s 2023 high nearly coincided with Bitcoin’s 2023 low. Thus, the converse trends clearly bring to light to the inverse co...

In a recent tweet, Haider Rafique, the CMO of the prominent crypto exchange, OKX, highlighted the possibility of Bitcoin reaching a high of $500K. While this seems like a far-fetched prediction, he also explained why and how the asset could reach this level. According to Rafique in the next five years, the BTC network is expected to entail more than 2 billion wallets. Currently, there are about 45,264,498 addresses in the network. Several firms across the globe have begun embracing Bitcoin through thick and thin. The king coin is found in the treasury of several firms. But Rafique believes that in five years, hundreds of publicly traded platforms will entail BTC in their treasury. The third point is focused on Bitcoin’s market cap. At press time, the market cap of the king coin is around $534 billion. Back in 2021, the market value of BTC soared to a high of $1.2 trillion. Despite the dip, the crypto currency surpassed several prominent entities like Meta and Visa. It currently sta...

Bitcoin (BTC), the original cryptocurrency, has surpassed the $27k mark for the first time since June 2022. The largest digital asset has made gains of up to 8.6% in the daily charts and 32.9% in the weekly charts. BREAKING: #Bitcoin surpasses $27,000 for the first time since June, 2022. — Watcher.Guru (@WatcherGuru) March 17, 2023 Over the last seven days, the overall market capitalization of cryptocurrencies increased by $217.83 billion, rising from $918.17 billion to $1.19 trillion. Now, Bitcoin’s latest rally comes amid a banking crisis that has gripped the United States. Three banks collapsed within the span of just a few days, sending shockwaves through the finance industry. It is possible that the crisis in the banking industry has pushed investors to pour their money into cryptocurrencies. There is a lot of uncertainty in the American banking sector, although authorities have assured customers that the industry is in a stable condition. BTC is currently facing r...

Bitcoin has forever been under scrutiny for its proof-of-work consensus. The BTC mining process was considered to be an energy-consuming process, which was even debated as being harmful to the environment. It was also said to have a negative impact on energy resources. Even though several Bitcoin mining firms have turned to various renewable sources of energy, like hydropower and solar, the mining industry is still looked down upon. Now, according to the details from the recent press release, TeraWulf announces the launch of a 100% nuclear-powered Bitcoin mining facility in the US. Also read: Amazon is Reportedly Planning to Launch its NFT Marketplace Next Month JUST IN: 🇺🇸 100% nuclear-powered #Bitcoin mining facility launches in Pennsylvania . — Watcher.Guru (@WatcherGuru) March 6, 2023 Pennsylvania is home to first behind-the-meter BTC mining facility powered by nuclear energy Owner and operator of domestic Bitcoin mining facilities powered by ...