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



Markets

Bitcoin's Wild Four Hours: New Record of $73K, Tumble to $69K, Rebound to $71K, $360M in Liquidations

Momentum behind bitcoin's rally has waned so expect a period of consolidation, Matrixport analysts noted.

Rollercoaster (Matt Bowden/Unsplash)

Policy

Craig Wright ‘Committed Perjury’ in U.K. Trial Over Satoshi Claims, COPA Says

The Crypto Open Patent Alliance said it will ask U.K. prosecutors to consider pursuing Wright for “perjury” over his defense of forgery allegations.

Craig Wright (Eamonn M. McCormack/Getty Images for London Blockchain Conference )

Markets

Jamie Dimon Defends Right to Buy Bitcoin Even Though He Never Will

The JPMorgan CEO has been a consistent critic of the cryptocurrency, though his latest comments suggest maybe a tiny bit of softening.

JPMorgan CEO Jamie Dimon (Win McNamee/Getty Images)

Finance

Rapper Drake Posts Michael Saylor's Bitcoin Video to His 146M Instagram Followers

Michael Saylor said that bitcoin will “eat gold” in an interview with CNBC on Monday.

Canadian rapper Drake on Tuesday shared a clip of Michael Saylor’s interview on CNBC on his Instagram account, reaching over 146 million followers. (Charito Yap/Flickr)

Policy

Sweden’s Central Bank Chief Wants 'as Little Bitcoin as Possible' in Country's Financial System: Bloomberg

“It’s an instrument that is impossible to value, and in practice it’s based on pure speculation," Riksbank Governor Erik Thedeen said.

Facade of the Swedish central bank facing Brunkebergstorg, Stockholm

Finance

U.S. CPI Unexpectedly Rises to 3.2% Annual Pace in February

Stubbornly high inflation so far in 2024 appears to be standing in the way of the Fed's willingness to begin cutting rates.

February inflation figures were released Tuesday (Frederick Warren/Unsplash)

Finance

El Salvador Is Sitting on $84M Profit From Its Bitcoin Holdings

President Nayib Bukele said in an X post that the Central American nation is earning bitcoin revenue from four different avenues.

El Salvadoran President Nayib Bukele. (Government of El Salvador, modified by CoinDesk)

Markets

This Bitcoin Bull Run Is Breeding Millionaire Whales at Slower Pace, Data Show

Currently, less than 2,000 millionaires, or wallets with $1 million worth of bitcoin, are created daily. That's significantly lower than the 2020-21 bull run.

Whales feeding (Shutterstock)

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