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

Spot Bitcoin ETF Approval Will Trigger 'Selling Pressure' on CME Futures Market: K33

Bitcoin futures' open interest on the Chicago Mercantile Exchange surged to an all-time high Tuesday as institutions piled into the asset, speculating on a spot bitcoin ETF approval.

By Krisztian SandorJan 9, 2024

CME bitcoin futures open interest in USD value (CoinGlass)

Tech

Bitcoin Developer's Proposal to Stop 'Spam' NFTs Gets Shut Down

Luke Dashjr's technical proposal sounded innocuous enough: to make the popular Bitcoin Core software "effective with newer datacarrying styles." In reality, the effort represented a sophisticated but controversial plan to block the suddenly popular "inscriptions" known as "NFTs on Bitcoin."

By Bradley KeounJan 9, 2024

Image of some of Luke Dashjr's proposed code changes, from pull request #28408. (GitHub, modified by CoinDesk)

Markets

Bitcoin ETFs Could See Up to $100B in Inflows If SEC Approves: Standard Chartered

Analysts from Standard Chartered, Galaxy and Corestone predict that a spot bitcoin ETF could see over $1 billion in inflows over just the first quarter.

By Lyllah LedesmaJan 9, 2024