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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
First Mover Americas: Bitcoin Down as Market Braces for Fed's 50 Basis Point Rate Hike
The latest moves in crypto markets in context for April 29, 2022.
US Labor Department Has ‘Grave Concerns’ About Fidelity’s Plan for Bitcoin in 401(k) Retirement Plans, Wall Street Journal Reports
The Labor Department is scheduled to meet with Fidelity to express concerns.
First Mover Asia: Hong Kong Isn’t Sure if It Needs a CBDC
The issues that have prompted other countries to explore a central bank digital currency don’t exist to the same extent in Hong Kong; bitcoin continues its mini-upswing.
Hut8 CEO on Bitcoin Mining, ESG Concerns, Spot ETF
Hut8 CEO Jaime Leverton discusses her firm’s competitive edge in the crypto mining industry and addresses the environmental concerns of proof-of-work consensus mechanisms. Plus, what a spot bitcoin ETF could mean for U.S. markets.
Genesis CEO on Bank and Investor Sentiment Toward Bitcoin
Genesis CEO Michael Moro shares his bitcoin price analysis, noting a long-term bullish sentiment among investors despite a recent decrease in trading volume. Plus, his take on the Central African Republic’s decision to adopt bitcoin as legal tender and the attitude of major banks toward BTC.
BTC Swings Upward, Faces Resistance at $43K
Bitcoin turned upwards after five days of wayward performance, remaining in a tight trading range with support at $37,000 and initial resistance at $43,000. Plus, current market sentiment among buyers and analysts as “All About Bitcoin” host Christine Lee presents the “Chart of the Day.”
Goldman Sachs Makes Its First Bitcoin-Backed Loan
The global investment bank allowed a borrower to use the cryptocurrency as collateral for a cash loan.
Market Wrap: Cryptos Mixed as Bitcoin Trades Near $40K
BTC is on track for a 15% decline this month, compared with a 13% loss in ETH.
The Crypto Company Aiding El Salvador’s Bitcoin Adoption
Chicago-based Athena Bitcoin deployed bitcoin ATMs in El Salvador a week after the government legalized bitcoin as legal tender. Despite rollout problems, the company remains bullish on the project. This piece is part of CoinDesk's Payments Week.
