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Bitcoin
Bitcoin is the pioneer of blockchains and cryptocurrencies, introduced in a white paper released in 2008 by an apparently pseudonymous person or group of people known as Satoshi Nakamoto. The document described a peer-to-peer method of transferring money without the use of financial institutions. The cryptocurrency known as bitcoin or BTC debuted in 2009. Transactions are recorded on a public ledger (a blockchain) by entities known as miners who engage in process called proof-of-work. Miners are rewarded for doing that by getting newly minted bitcoin. Some proponents view BTC as an alternative to fiat currencies and a hedge against inflation. Bitcoin has inspired the creation of numerous other cryptocurrencies and blockchain projects.
DISCLOSURE: This text was written with the assistance of AI, then reviewed by a person
Bitcoin Faces Resistance Around $57K, Altcoins Recover From 7-Day Lows
Bitcoin is meeting the $57,000 resistance level during U.S. trading hours Wednesday as altcoins and other layer 1 tokens recovered from seven-day lows. New data on bitcoin dominance continued to signal a bias toward altcoin exposure. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
IMF: Bitcoin Should Not Be Legal Tender in El Salvador
The International Monetary Fund (IMF) stated bitcoin should not be used as legal tender in El Salvador, saying its plans to acquire more BTC will require a “very careful analysis” of implications for its financial stability. It also questioned President Nayib Bukele’s announcement of a $1 billion bitcoin-backed bond.
Bitcoin's Next Move After Dipping Below $56K
Greg King, Founder & CEO of crypto investment firm Osprey Funds, discusses his crypto markets analysis and outlook as bitcoin has tumbled below the $56,000 support level. Is there a potential threat we could be triggering liquidations in the short-term? Plus, insights into his firm launching NFT-focused investment vehicles by early next year.
El Salvador’s Ambassador to US on Central American Country’s Bitcoin Ambitions
Milena Mayorga, Ambassador of El Salvador to the U.S., discusses El Salvador’s bitcoin ambitions following President Nayib Bukele’s plans for the world’s first “Bitcoin City”– a low-tax, net-zero municipality financed primarily by a $1 billion bitcoin bond listed on Bitfinex.
El Salvador Wants to Build ‘Bitcoin City’ With Major Tax Incentives
El Salvador, the only country where bitcoin is a legal tender, is going to build an entire city based on the largest cryptocurrency by market value. “Bitcoin City” will have no income, property, capital gains or payroll taxes.
Is There a Bullish Breakout Ahead for Bitcoin?
Needham & Co. Vice President John Todaro discusses his positive assessment of the crypto markets despite continuing to see red over the past week. “We’re still in a bullish macro set up here for bitcoin and cryptocurrencies more broadly,” Todaro said. “We do have around $100K bitcoin [price target] in Q1 2022.”